Company registration number: 06857630 Charity registration number: 1134308
Trenance Cottages Newquay
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 December 2025
Trenance Cottages Newquay
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 20 |
Trenance Cottages Newquay
Reference and Administrative Details
Charity Registration Number
1134308
Company Registration Number
06857630
Registered Office
25 Lusty Glaze Road Newquay Cornwall TR7 3AE
Trustees
David Salter Jill Willmott Ronald Fullwood Mavis Warman Gillian Moore Fiona Rick Valerie Collinson Simon Fernley Vanessa Bragg, From 1 June 2025 Sandie Watkins, From 30 June 2025 Andy Hannan, From 30 June 2025 Emma Hackett, From 11 February 2026
Secretary
Vanessa Bragg, From 1 June 2025
Independent Examiner
Mr N Hallam FCCA Crane & Johnston 30-32 Trebarwith Crescent Newquay Cornwall TR7 1DX
Bankers
Lloyds Bank 7 Boscawen Street TRURO Cornwall TR1 2QT
Page 1
Trenance Cottages Newquay
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2025.
Objectives and activities
Objects and aims
The charitable company's objects and principal activities are to:
a) promote for the benefit of the public the preservation, protection and improvement of Trenance Cottages, Newquay. The cottages are a group of late eighteenth and early nineteenth century, Grade II listed buildings.
b) to advance the education of the public, in particular but not exclusively, in the heritage of the area and the arts.
c) be a community hub and contribute towards improving social capital through volunteering.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Trenance Cottages Newquay
Trustees' Report
Achievements and performance
During 2025 the trustees and volunteers of Trenance Cottages were active in both fundraising and community events. We tried again to maintain affordable prices for local families. Our new website increased our level of PR and marketing. A volunteer also started Instagram and Tik Tok accounts to enable us to access a younger demographic.
In March the annual Cinema event was jointly organised with the NSPCC; again it was held at The Lighthouse Cinema. The film was Grease. The food, wine and film were sponsored so all the proceeds went to both charities. On Easter Sunday we held the Easter Bunny Trail with craft and games for children. In June we organised our Summer Fun Day around the gardens with stalls, games, entertainment, duck races and roundabouts. This was another local community success and a good fundraiser for the charity.
In September we celebrated our 10 years of opening. We organised Proms in the Park on the Friday evening and The Ritzy Belles and a magician on the Sunday afternoon. Our grand raffle raised over £2,000.
As usual we held our Halloween, pumpkin hunt with spooky games and craft. For the second time we had a pumpkin race in the stream, lots of fun and over 120 children attended.
For a second year, the town Lantern Parade was held around the gardens, finishing at the cottages for entertainment. The lights around the cottages and the tree were again amazing. All the entertainment was sponsored and around 2,000 people turned up. This was a great success and was staged in partnership with Blystra Arts, Newquay BID and Newquay Lions Club.
Our Christmas Grotto was another great success with all slots booked for seeing Santa, visiting Santa’s Workshop, doing craft and receiving toys. For the second time we used online booking through our website. Volunteers designed, constructed and ran the grotto. Costs were kept as low as possible, whilst providing good quality toys.
Our function room hosted nine weddings throughout the year, led by our wedding coordinator and a band of volunteers. All the couples were extremely happy with our cottages as the venue for their special day.
We appointed three new trustees.
Jill Willmott - Chair
Financial review
The charity achieved a surplus of £710 for the financial year ending 31st December 2025. The surplus on unrestricted funds was £4,697. At the year-end the charity held reserves of £780,479, of which £92,801 are unrestricted in nature.
Further details can be found in note 15 of the financial statements.
Page 3
Trenance Cottages Newquay
Trustees' Report
Policy on reserves
The trustees have considered the level of reserves of the charity.
They consider that the unrestricted funds at the year end of £92,801 are required to help sustain the operations of the charity in the future.
The trustees have ringfenced £60,000 of these reserves as a contingency fund in a separate interest earning bank account.
Structure, governance and management
Nature of governing document
The organisation is a charitable company limited by guarantee, incorporated on 25 March 2009 and registered as a charity on 15 February 2010. The charitable 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. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1.
The accounts comply with current statutory requirements and the charity's governing documents.
Recruitment and appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as members of the Board of Directors. Under the requirements of the Memorandum and Articles of Association, three members of the board of directors stand down annually, in order of when they were 1st elected. After which, they must be re-elected at the Annual General Meeting. Nominated members serve at the discretion of the nominating body.
All members will be circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM.
New trustees are provided with a pack containing information covering the following:
-
the content of the memorandum and articles of association
-
set of recent board papers and minutes and dates of next meetings
-
annual reports from the previous year.
Organisational structure
The trustees meet monthly and are responsible for the strategic direction and policy of the charity. Currently there are 12 trustees, the board of trustees are responsible for the day to day running of the charity.
Page 4
Trenance Cottages Newquay
Trustees' Report
Major risks and management of those risks
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate our exposure to the major risks.
Statement of trustees' responsibilities
The trustees (who are also the directors of Trenance Cottages Newquay for the purposes 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 Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 16 June 2026 and signed on its behalf by:
Page 5
Trenance Cottages Newquay
Independent Examiner's Report to the trustees of Trenance Cottages Newquay ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s 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:
-
accounting records were not kept in respect of Trenance Cottages Newquay as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 to be reached.
...................................... Neil Hallam FCCA Crane & Johnston Chartered Certified Accountants
30-32 Trebarwith Crescent Newquay Cornwall TR7 1DX
19 June 2026
Page 6
Trenance Cottages Newquay
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
|---|---|
| Unrestricted Restricted Total 2025 Total 2024 |
|
| Note £ £ £ £ |
|
| Income and Endowments from: | |
| Donations and legacies 3 |
7,693 - 7,693 6,279 |
| Charitable activities 4 |
24,235 - 24,235 37,182 |
| Other trading activities 5 |
18,434 - 18,434 18,675 |
| Investment income 6 |
2,424 - 2,424 2,913 |
| Total income | |
| 52,786 - 52,786 65,049 |
|
| Expenditure on: | |
| Charitable activities 7 |
(48,089) (3,987) (52,076) (49,790) |
| Total expenditure | |
| (48,089) (3,987) (52,076) (49,790) |
|
| Net income/(expenditure) | |
| 4,697 (3,987) 710 15,259 |
|
| Net movement in funds | |
| 4,697 (3,987) 710 15,259 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 88,104 691,665 779,769 764,510 |
|
| Total funds carried forward 15 |
|
| 92,801 687,678 780,479 779,769 |
The notes on pages 11 to 20 form an integral part of these financial statements. Page 7
Trenance Cottages Newquay
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
|---|---|
| Unrestricted funds Restricted funds Total 2024 |
|
| Note £ £ £ |
|
| Income and Endowments from: | |
| Donations and legacies 3 |
6,279 - 6,279 |
| Charitable activities 4 |
22,182 15,000 37,182 |
| Other trading activities 5 |
18,675 - 18,675 |
| Investment income 6 |
2,913 - 2,913 |
| Total income | |
| 50,049 15,000 65,049 |
|
| Expenditure on: | |
| Charitable activities 7 |
(45,807) (3,983) (49,790) |
| Total expenditure | |
| (45,807) (3,983) (49,790) |
|
| Net income | |
| 4,242 11,017 15,259 |
|
| Net movement in funds | |
| 4,242 11,017 15,259 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 83,862 680,648 764,510 |
|
| Total funds carried forward 15 |
|
| 88,104 691,665 779,769 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 is shown in note 15.
The notes on pages 11 to 20 form an integral part of these financial statements. Page 8
Trenance Cottages Newquay
(Registration number: 06857630) Balance Sheet as at 31 December 2025
| (Registration number: 06857630) Balance Sheet as at 31 December 2025 |
(Registration number: 06857630) Balance Sheet as at 31 December 2025 |
|---|---|
| 2025 2024 |
|
| Note £ £ |
|
| Fixed assets | |
| Tangible assets 12 |
693,325 696,453 |
| Current assets | |
| Stocks | 3,400 4,800 |
| Debtors 13 |
1,576 3,451 |
| Cash at bank and in hand | 90,559 84,543 |
| 95,535 92,794 |
|
| Creditors: Amounts falling due within oneyear 14 |
|
| (8,381) (9,478) |
|
| Net current assets | |
| 87,154 83,316 |
|
| Net assets | |
| 780,479 779,769 |
|
| Funds of the charity: | |
| Restricted income funds | |
| Restricted funds | 687,678 691,665 |
| Unrestricted income funds | |
| Unrestricted funds | 92,801 88,104 |
| Total funds 15 |
|
| 780,479 779,769 |
The notes on pages 11 to 20 form an integral part of these financial statements. Page 9
Trenance Cottages Newquay
(Registration number: 06857630) Balance Sheet as at 31 December 2025
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 7 to 20 were approved by the trustees, and authorised for issue on 16 June 2026 and signed on their behalf by:
The notes on pages 11 to 20 form an integral part of these financial statements. Page 10
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets and liabilities of the charity in the event of liquidation.
The address of its registered office is: 25 Lusty Glaze Road Newquay Cornwall TR7 3AE
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Trenance Cottages Newquay meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
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 and endowments
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.
Page 11
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All 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. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 12
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Property | not considered necessary as buildings have an infinite life |
| Plant and machinery | 20% per annum on a straight line basis |
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 13
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
3 Income from donations and legacies
| 3 Income from donations and legacies |
|
|---|---|
| Unrestricted | |
| funds Total |
|
| General funds |
|
| £ £ |
|
| Donations and fundraising | 7,693 7,693 |
| Total for 2025 | |
| 7,693 7,693 |
|
| Total for 2024 | |
| 6,279 6,279 |
Page 14
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
4 Income from charitable activities
| 4 Income from charitable activities |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Restricted | Total | |
| General | funds | funds | |
| £ | £ | £ | |
| Grants receivable | 550 | - | 550 |
| Function room hire and weddings | 8,125 | - | 8,125 |
| Rental income | 15,527 | - | 15,527 |
| Other income | 33 | - | 33 |
| Total for 2025 | 24,235 | - | 24,235 |
| Total for 2024 | 22,182 | 15,000 | 37,182 |
5 Income from other trading activities
| 5 Income from other trading activities |
|
|---|---|
| Unrestricted | |
| funds Total |
|
| General funds |
|
| £ £ |
|
| Sales | 18,434 18,434 |
| Total for 2025 | |
| 18,434 18,434 |
|
| Total for 2024 | |
| 18,675 18,675 |
|
| 6 Investment income |
|
| Unrestricted | |
| funds Total |
|
| General funds |
|
| £ £ |
|
| Interest receivable and similar income; | |
| Interest receivable on bank deposits | 2,424 2,424 |
| Total for 2025 | |
| 2,424 2,424 |
|
| Total for 2024 | |
| 2,913 2,913 |
Page 15
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
7 Expenditure on charitable activities
| Unrestricted | |
|---|---|
| funds Restricted Total |
|
| General funds funds |
|
| Note | £ £ £ |
| Items purchased | 6,048 - 6,048 |
| Licences | 1,015 - 1,015 |
| Fundraising expenses | 2,950 - 2,950 |
| Insurance | 2,911 - 2,911 |
| Cleaning | 1,205 - 1,205 |
| Light and heat | 8,522 - 8,522 |
| Repairs and maintenance | 8,088 - 8,088 |
| Rates | 1,294 - 1,294 |
| Rent | 1,560 - 1,560 |
| Telephone | 682 - 682 |
| Advertising | 1,321 - 1,321 |
| Depreciation | 987 3,987 4,974 |
| Wages | 9,360 - 9,360 |
| Sundry | 268 - 268 |
| Bank charges | 14 - 14 |
| Governance costs 8 |
1,750 - 1,750 |
| Stationeryandprinting | 114 - 114 |
| Total for 2025 | |
| 48,089 3,987 52,076 |
|
| Total for 2024 | |
| 45,807 3,983 49,790 |
8 Analysis of governance and support costs
| 8 Analysis of governance and support costs |
|
|---|---|
| Unrestricted | |
| funds Total |
|
| General funds |
|
| £ £ |
|
| Independent examiners fee | 1,750 1,750 |
| Total for 2025 | |
| 1,750 1,750 |
|
| Total for 2024 | |
| 1,328 1,328 |
Page 16
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
9 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
10 Staff costs
The aggregate payroll costs were as follows:
| 10 Staff costs The aggregate payroll costs were as follows: |
|||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Note | £ | £ | |||
| Staff wages | 9,360 | 9,321 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2025 2024 |
|
|---|---|
| No No |
|
| Operation of charity | 2 3 |
No employee received emoluments of more than £60,000 during the year.
Page 17
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
| 11 Taxation The charity is a registered charity and is therefore exempt from taxation. |
11 Taxation The charity is a registered charity and is therefore exempt from taxation. |
|---|---|
| 12 Tangible fixed assets |
|
| Land and buildings Plant and machinery Total |
|
£ £ £ |
|
| Cost | |
| At 1 January 2025 681,353 60,604 741,957 |
|
| Additions - 1,846 1,846 |
|
| At 31 December 2025 681,353 62,450 743,803 |
|
| Depreciation | |
| At 1 January 2025 - 45,504 45,504 |
|
| Charge for theyear - 4,974 4,974 |
|
| At 31 December 2025 - 50,478 50,478 |
|
| Net book value | |
| At 31 December 2025 681,353 11,972 693,325 |
|
| At 31 December 2024 681,353 15,100 696,453 |
|
| 13 Debtors |
|
| 2025 2024 |
|
| £ £ |
|
| Prepayments | 1,343 826 |
| Other debtors | 233 2,625 |
| 1,576 3,451 |
|
| 14 Creditors: amounts falling due within one year |
|
| 2025 2024 |
|
| £ £ |
|
| Trade creditors | 4,631 5,888 |
| VAT | 967 543 |
| Accruals and deferred income | 2,783 3,047 |
| 8,381 9,478 |
Page 18
Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
| Notes to the Financial Statements for the Year Ended 31 December 2025 | Notes to the Financial Statements for the Year Ended 31 December 2025 |
|---|---|
| 15 Funds |
|
| Balance at 1 January 2025 Incoming resources Resources expended Balance at 31 December 2025 |
|
£ £ £ £ |
|
| Unrestricted funds | |
| General 88,104 52,786 (48,089) 92,801 |
|
| Total unrestricted funds 88,104 52,786 (48,089) 92,801 |
|
| Renovation of cottages 678,678 - - 678,678 |
|
| Making Trenance Heritage Cottages Sustainable developing |
|
| New Uses 987 - (987) - |
|
| Cornwall Council - Experience | |
| Newquay 12,000 - (3,000) 9,000 |
|
| Restricted funds 691,665 - (3,987) 687,678 |
|
| Total funds 779,769 52,786 (52,076) 780,479 |
|
| Balance at 1 January 2024 Incoming resources Resources expended Balance at 31 December 2024 |
|
£ £ £ £ |
|
| Unrestricted funds | |
| General 83,862 50,049 (45,807) 88,104 |
|
| Total unrestricted funds 83,862 50,049 (45,807) 88,104 |
|
| Renovation of cottages 678,678 - - 678,678 |
|
| Making Trenance Heritage Cottages Sustainable developing |
|
| New Uses | 1,970 - (983) 987 |
| Cornwall Council - Experience | |
| Newquay | - 15,000 (3,000) 12,000 |
| Restricted funds | |
| 680,648 15,000 (3,983) 691,665 |
|
| Total funds | |
| 764,510 65,049 (49,790) 779,769 |
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Trenance Cottages Newquay
Notes to the Financial Statements for the Year Ended 31 December 2025
The specific purposes for which the funds are to be applied are as follows:
Renovation of cottages - various grants have been received towards the repairing & restoring of Trenance Cottages as a community meeting space & heritage centre. The main funders were Heritage Lottery Fund and SITA.
Making Trenance Heritage Cottages Sustainable Developing New Uses - this project is being funded by the Heritage Lottery fund. The funding will enable the charity to recruit staff to manage the cottages and focus on the future developments of the organisation. This project ceased on 31/12/21 and the balance on this fund represents the NBV of the assets which will be depreciated over future years.
Cornwall Council (Experience Newquay) - funding received to enable the purchase of lighting for use at the cottages.
16 Analysis of net assets between funds
Current year
| 16 Analysis of net assets between funds Current year |
|
|---|---|
| Unrestricted Total funds at |
|
| funds Restricted 31 December |
|
| General funds 2025 |
|
| £ £ £ |
|
| Tangible fixed assets | 5,647 687,678 693,325 |
| Current assets | 95,535 - 95,535 |
| Current liabilities | (8,381) - (8,381) |
| Total net assets | |
| 92,801 687,678 780,479 |
Prior year
| Prior year | |
|---|---|
| Unrestricted Total funds at |
|
| funds Restricted 31 December |
|
| General funds 2024 |
|
| £ £ £ |
|
| Tangible fixed assets | 7,038 689,415 696,453 |
| Current assets | 90,544 2,250 92,794 |
| Current liabilities | (9,478) - (9,478) |
| Total net assets | |
| 88,104 691,665 779,769 |
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