**COMPANY REGISTRATION NUMBER: 07498784 CHARITY REGISTRATION NUMBER: 1140467** 

# **Wallsend Memorial Hall & People's Centre Company Limited by Guarantee** 

# **Unaudited Financial Statements 31 March 2022** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Financial Statements** 

## **Year ended 31 March 2022** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**7**|
|Statement of financial activities (including income and||
|expenditure account)|**8**|
|Statement of financial position|**9**|
|Notes to the financial statements|**11**|
|**The following pages do not form part of the financial statements**||
|Detailed statement of financial activities|**24**|





## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** 

## **Year ended 31 March 2022** 

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022. 

## **Reference and administrative details** 

**Registered charity name** Wallsend Memorial Hall & People's Centre **Charity registration number** 1140467 **Company registration number** 07498784 **Principal office and registered** 10 Frank Street **office** Wallsend Tyne & Wear NE28 6RN **The trustees** L Spillard M Madden N Barker J Hunter (Resigned 23 February 2022) Dr J Matthews M Lisle M Riley B Topping M Levy (Resigned 24 November 2021) **Independent examiner** JFS Torbitt Chartered Certified Accountants 58 Durham Road Birtley Co Durham DH3 2QJ 

**1** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **Structure, governance and management** 

Legal Structure of the charity 

The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation. 

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. 

By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation. 

The trustees are all individuals. The trustee body comprises a minimum of 3 trustees. At the Annual General Meeting, trustees may be subject to a cycle of review or retirement at the discretion of the trustees. 

Our trustee enrolment procedures are in line with charity guidelines. An induction pack is issued and the chair of the trustees meets with new trustees to ensure training needs or support is available. 

## **Objectives and activities** 

The purposes of the charity are set out in its governing documents 

The purpose of the charity is the furtherance of any charitable purpose for the persons living in Wallsend and the neighbouring areas. 

In addition the charity, is the trustee of the Wallsend Memorial Hall Trust charity and has responsibility for maintaining the building as an object of the charity. 

## **Strategic Objectives** 

Building upon our relationship with our strategic partner, Social Investment Business, we entered into a partnership arrangement with the purpose of pooling resources, skills, knowledge and experience to review options for the preservation, sustainability and viable future of the charity for the benefit of the residents of Wallsend and neighbouring areas. The work had clear aims and objectives which were to: 

Maintain the centre and its activities for which there was evidence of growing need to which the charity has responded. This was evidenced further by extended reach and social impact reports, safeguarding our unique heritage building for community use and ownership. 

Inform partners’ decision making with regards priorities, options and actions required to meet ongoing and future proposals. 

Like most proactive partnership arrangements, our combined focus has resulted in an emerging strategic plan with clear tasks to underpin the organisation’s progress. 

As we move to implementation, we would like to take this opportunity to thank Social Investment Business for its support and we look forward to the continuance of our proactive partnership. 

**2** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

Implementation of the strategic plan will mitigate risks identified in our newly developed risk register. 

## **The main activities undertaken in relation to those purposes during the year** 

Wallsend Memorial Hall and Peoples Centre is a community hub serving the residents of Wallsend town and neighbouring areas, improving the quality of life of local residents who are affected by social isolation, poverty and disadvantage which is structural and generational in nature. We are concerned with addressing inequality and taking a rights-based approach whilst responding to the identified needs and aspiration of the local community. 

Last year we learnt how to adapt, this year we have had to adjust to change, and respond to the continuing challenge of the COVID pandemic. We returned activities to the centre as soon as government guidance allowed us to whilst embedding the required risk assessments for all activity. 

Our community hub is a multipurpose centre that hosts a range of services and spaces to the local community, with the potential to develop new services in response to changing community needs. As well as our own services we facilitate and support other partners to deliver to their targeted community of geography or interest and identity. This means the community benefits with services delivered on their doorstop increasing their life chances and improving their wellbeing. 

In fact partnerships have been our focus this year and have resulted in key project delivery such as: 

## COVID Vaccination Centre 

Holiday and Food work for children in receipt of means tested free school meals - this work was a result of our developing relationship with North Tyneside Council and enabled us to build upon the previous year's work and extended the reach of the charity to children, young people and their extended families. 

Our lunch clubs continue to thrive offering a much-needed opportunity for older residents and those with special needs who were disproportionately affected by COVID, where fears remained regardless of vaccination status. 

Hosting the Peoples Advice Service who offer benefits advice, particularly disability rights advice. 

Our Victor Mann Tea dance continues to grow and thrive with additional volunteers recruited and income generating events developed, adding value for the benefit of our beautiful and unique ballroom and its sustainability. 

Our CCG funded project, Dancing for the Brain, had more of a stop and start return because of the uniqueness, needs and challenges faced by the client group during the COVID pandemic. Whilst numbers attending were not as high as hoped for, the project produced some good results against the outcomes framework. Beneficiaries, including Carers, reported improved mobility, reduced social isolation, making new friends and having fun. 

We have continued hosting social enterprise activity based around dance, with a focus on children and young people enabling enrichment activities for them to be delivered locally at low cost. We continue to offer these groups our support due to the challenging economic climate, but we recognise that this is a balancing act. 

Food distribution has continued in response to demand with relationships developed with other agencies once again extending our reach. 

**3** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

We are active members of food networks where practice and resources are shared. 

We increased room rental and hosted other training organisations who have delivered formal and informal training for the benefit of local residents, including ESOL. 

We developed a working relationship with The Wallsend Children's Community and Wallsend Action for Youth, collaborating and supporting evidence based development, contributing to their offer improving outcomes for local children and young people. This area of work continues to grow. 

Mental Health charity Anxious Minds now have a base in our building delivering support and counselling services. We are discussing partnership working and development of potential projects for the benefit of our community. 

Despite challenging economic times we have been able to commit resources to capital repairs and building maintenance as a result of improved income generation and charitable trading. in spite of challenging economic times and increased cost pressures for this type of work. 

## **The contributions of volunteers during the year** 

Without those who volunteer at the Memorial Hall and People's Centre we would be unable to continue offering our services and activities which are highly valued in the local community.  The Trustees acknowledge and are thankful for the outstanding loyalty and commitment of each and every one of our volunteers. They go above and beyond in their support of the charity, adding to the vibrance, sustainability and homely feel of our centre. 

## **Achievements and performance** 

The operating environment has continued to be challenging, however work has reaped rewards and partnership and collaboration have been key to this success. 

We continue to work with H.C. Horizons CIC who support the board with strategic planning, grant funding applications, commissions and contracts, project development and governance. They have expanded our networks and collaborative work and demonstrated to stakeholders our contribution to strategic objectives for the borough and wider impact. 

The Board would like to record a special thanks for their work and recognise their instrumental role in the work with our strategic partner SIB. 

Revenue generated by charitable activities and investments has increased this year which has helped cover increasing utility costs, overheads and repairs.  By sustaining room rental income we can also invest in activities, services and building repairs. 

We also are particularly proud of the following: 

Increasing use of the Ballroom by dance schools across the area and region for competitions and events. 

Our continued engagement of men in activities, including those with complex needs and our continued food related work post COVID. 

Our reach to communities of interest and identity continues to grow and we are seen by stakeholders as a key player in the sector. 

**4** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2022** 

**The difference the charity's performance during the year has made to the beneficiaries of the charity.** 

Beneficiaries report through our monitoring and evaluation processes: 

- residents feel more connected and supported 

- children and young people stated they learnt new skills and made new friends 

- residents reported improved health and wellbeing and less loneliness 

- residents were able to take up work opportunities and become economically active 

- residents gained additional income, supporting the local economy 

- community enterprises could continue to deliver in challenging circumstances offering enrichment activities and opportunities 

- door step services enable beneficiaries to participate in opportunities 

- welfare rights advice and advocacy continue to provide crucial support to an increasing number of vulnerable people, many with complex needs and at crisis point 

- our IT Suite provided a valuable resource to the community 

- we provide volunteering opportunities for all, a number of our volunteers have gone into employment. 

**The degree to which the achievements and performance during the year have benefitted wider society.** 

We are pursuing aims which contribute to the regeneration of our community focusing on the economic, social and cultural needs. We will continue to generate income through trading activity and rents as well as grant support, where possible, to support our social purpose delivering services and products to meet community need and aspirations. 

## **Financial review** 

The financial position of the charity at 31 March 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows: 

|detailed in the accounts, can be summarised as follows:|||
|---|---|---|
||2022|2021|
||**£**|£|
|Net income/(deficit)|(19,661)|55,840|
|Unrestricted Revenue Funds available for the general purposes of|||
|the charity|413,738|426,988|
|Restricted Revenue Funds|9,847|12,060|
|Restricted Fixed Asset Funds|381,921|386,119|
||─────────|─────────|
||391,768|398,179|
|Total Funds|805,506|825,167|



**5** 



Wallsend Memorial Hall & People's Centre
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) fcontsnuedj
Year ended 31 March 2022
The Charity has benefited from various covid grant assistance during these drfficuk timès. The
trustees consider the financial perf0rrnan￿ of the charity during the year to have been satisfactory.
The charity defined available reserves al 31st March 2022 are calculated as follows..
2022
Unrestricted Reserves
Less". Net fixed assets..
413,738
Fixed Assets
Restricted fixed asset
Secured bank loan
1,875,357
1381.9211
1 157016
336 420
Charity defined available reserves
The Charity has achieved the level of available reserves ne￿SSary to comply with the poI￿Y on
reserves slated below.
The charity continues lo be dependent upon the support of ils major lender the Social Investment
Business whiGh, in the spirit of true partnership, continues lo play 8 P051tive role supporting the charity.
So¢ial Investment Business has further extended the full loan repayment holiday, with a OOA interest
rate, enabling the charity to continue lo progress, explo￿ other opportunities and lesl viability.
Policies on reserves
Unreslricled Revenue Funds available for the general purposes of the charity The current airn of the
charity is to provide a funding buffer of 3 months dirgct ¢harilable expenditure within the available
reserves as defined by the charity. The charity defines available reserve5 a5 unre51rKted reserves less
fixed assets after deduction of secured borrowings and reslri¢ted fixed asset fund.
Availability and adequa¢y of assets of each of the funds
The board of trustees is satisfied that the ¢harill5 assets in each fund are available and adequate lo
fulfil its obligations in respect of each fund.
Small company provi$lon$
This report has been prepared in accordance with the provIs￿nS applicable to companies entitled to
the small companies exempbon.
The truslees, annual report was approved on 30th November 2022 and signed on behalf of the board
of Iruslees by..
M Madden
Trustee

Wallsend Memorial Hall & People's Centre
Company Limited by Guarantee
Independent Examinerfs Report to the Trustees of Wallsend Memorial Hall &
People's Centre
Year ended 31 March 2022
I report lo the trustees on my examination of the financial statements of Wallsend Memorial Hall &
People's Centre I'lhe charty'} for the year ended 31 March 2022.
Responslbllities and basis of report
As the trustees of the company land also ils directors for the puiposes of company law) you are
responsible for the preparation of the financial statements in accordance with the requirements of the
Companies Act 2008 I'lhe 2006 Act'i.
Having satisfied myself that the accounts of the company are not required lo be audited under Part 16
of the 2006 Act and are eligible for independent examination. I report in respect of my examination of
the charity's a¢¢ounts as cartied out under section 145 of the Charities Ad 2011 I'the 2011 AGt'I. In
carrying out my examination I have followed the Directions given by the Charity Commission under
section 14515){bl of the 2011 Act.
Independent examinerf$ statement
I have ¢ompleted my examination. I confirm that no matters hw come to my attention in connection
with the examination giving me cause lo believe..
accounting records were not kept in respect of the charity as required by section 386 of the
2006 Act., or
th$ financial slalements do not accord with those records.. or
the financial slalemenls do not comply with the accounting requirements of section 396 of
the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which
15 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 Slalemenl of Recommended Practice for accounting and reporting by
charities applicable to charities preparing their accounts in accordanca with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
I have no COn￿rn5 and have come across no other matters in ¢onne¢lion 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.
C M Spurrell
FCCA
Independent Examlner
58 Durham Road
Birtley
Co Durham
DH3 2QJ
30th Novembet 2022

## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Statement of Financial Activities (including income and expenditure account)** 

## **Year ended 31 March 2022** 

||||**2022**||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**6**|29,510|31,235|60,745|114,662|
|Other charitable activities|**7**|60,980|–|60,980|53,449|
|Investment income|**8**|96,509|–|96,509|55,050|
|||─────────|────────|─────────|─────────|
|**Total income**||186,999|31,235|218,234|223,161|
|||═════════|════════|═════════|═════════|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising charitable||||||
|activities|**9**|202,046|33,449|235,495|164,921|
|Governance costs|**10**|2,400|–|2,400|2,400|
|||─────────|────────|─────────|─────────|
|**Total expenditure**||204,446|33,449|237,895|167,321|
|||═════════|════════|═════════|═════════|
|||─────────|────────|─────────|─────────|
|**Net (expenditure)/income and net**||||||
|**movement in funds**||(17,447)|(2,214)|(19,661)|55,840|
|**Transfer between funds**||4,197|(4,197)|–|–|
|||─────────|─────────|─────────|─────────|
|||(13,250)|(6,411)|(19,661)|55,840|
|||═════════|════════|═════════|═════════|
|**Reconciliation of funds**||||||
|Total funds brought forward||426,988|398,179|825,167|769,327|
|||─────────|─────────|─────────|─────────|
|**Total funds carried forward**||413,738|391,768|805,506|825,167|
|||═════════|═════════|═════════|═════════|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 11 to 22 form part of these financial statements.** 

**8** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Statement of Financial Position** 

## **31 March 2022** 

|||**2022**|2021|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**15**|1,500,357|1,513,724|
|Investments|**16**|375,000|375,000|
|||────────────|────────────|
|||1,875,357|1,888,724|
|**Current assets**||||
|Debtors|**17**|21,224|14,432|
|Cash at bank and in hand||98,724|95,979|
|||─────────|─────────|
|||119,948|110,411|
|**Creditors: amounts falling due within one year**|**18**|(32,783)|(16,952)|
|||─────────|─────────|
|**Net current assets**||87,165|93,459|
|||────────────|────────────|
|**Total assets less current liabilities**||1,962,522|1,982,183|
|**Creditors: amounts falling due after more than one year**|**19**|(1,157,016)|(1,157,016)|
|||────────────|────────────|
|**Net assets**||805,506|825,167|
|||════════════|════════════|
|**Funds of the charity**||||
|Restricted funds - Revenue||9,847|12,060|
|Restricted funds - Fixed Asset Funds||381,921|386,119|
|||────────────|────────────|
|||391,768|398,179|
|Unrestricted funds||413,738|426,988|
|||─────────|─────────|
|**Total charity funds**|**22**|805,506<br>═════════|825,167<br>═════════|



For the year ending 31 March 2022 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 company to obtain an audit of its financial statements for the year in question in accordance with section 476; 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. 

## The statement of financial position continues on the following page. 

**The notes on pages 11 to 22 form part of these financial statements.** 

**9** 



Wallsend Memorial Hall & People's Centre
Company Limited by Guarantee
statement of Financial Position (conlinuedj
31 March 2022
These financial ststemen15 were approved by the board of trustees and aulh0ri5ed for issue on 30th
November 2022, and are signed on behalf of the board by..
LCL &pLLLtsd
L Spillard
Trustee
The notes on pages 11 to 22 form part of these financial statements.
10

## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2022** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 10 Frank Street, Wallsend, Tyne & Wear, NE28 6RN. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

The charity continues to be dependent on continuing support of Social Investment Business and as a consequence the going concern is dependent on this support. Social Investment Business has again extended the full loan repayment holiday and 0% interest. The Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern. 

## **Disclosure exemptions** 

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: 

(a) No cash flow statement has been presented for the company. 

(b) Disclosures in respect of financial instruments have not been presented. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 

There are no designated funds. 

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law. 

There are no endowment funds. 

**11** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- legacy income is recognised when receipt is probable and entitlement is established. 

- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless 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. 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Operating leases** 

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 

**12** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

|Freehold premises|-|1% straight line|
|---|---|---|
|Fixtures & equipment|-|10% straight line|
|Computer equipment|-|33.33% straight line|



## **Investments** 

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 

## **Investment property** 

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. 

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure. 

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

**13** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Deferred income and income received in advance** 

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met. 

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met. 

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met. 

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned, and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred. 

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable. 

## **Volunteers** 

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements. The charity depends on the support of its volunteers for the smooth running of the hall and the trustees value the significant contribution made to the activities of the charity by unpaid volunteers. 

**14** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Government grants** 

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants 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 income 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 liability. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

## **4. Limited by guarantee** 

The charity is under the control of its legal members. Every member of the charity is obliged to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. 

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity. 

## **5.   Liability to taxation** 

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities. 

**15** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **6. Donations and legacies** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|**Donations**||||
|Small donations|1,395|–|1,395|
|Unite T-EE & E Branch|1,400|–|1,400|
|Tokyo IND 2 - Patrick Topping|7,915|–|7,915|
|**Grants**||||
|Victor Mann - Lunch Club|300|–|300|
|Project Dancing for the Brain|–|9,375|9,375|
|North Tyneside Holiday Activity Fund|–|18,860|18,860|
|Community Foundation - Music Project|–|3,000|3,000|
|Victor Mann - Tea Dance xmas grant|500|–|500|
|Covid Business rates relief|18,000|–|18,000|
||────────|────────|────────|
||29,510|31,235|60,745|
||════════|════════|════════|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|**Donations**||||
|Small donations|1,135|–|1,135|
|Unite T-EE & E Branch|1,300|–|1,300|
|**Grants**||||
|Victor Mann - Lunch Club|300|–|300|
|Woodward Trust|500|–|500|
|Karbon Homes|3,000|–|3,000|
|Project Dancing for the Brain|–|5,021|5,021|
|Community Foundation|–|18,000|18,000|
|National Lottery Covid 19 Response|–|41,384|41,384|
|Covid Business rates relief|44,022|–|44,022|
||────────|────────|─────────|
||50,257|64,405|114,662|
||════════|════════|═════════|



## **7. Other charitable activities** 

||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Cafe income|2,689|2,689|35,750|35,750|
|Event Room Hire|35,361|35,361|3,577|3,577|
|Luncheon club/Tea Dance/Winter|||||
|pressures/census|21,096|21,096|12,587|12,587|
|Miscellaneous income|1,834|1,834|1,534|1,534|
||────────|────────|────────|────────|
||60,980|60,980|53,448|53,448|
||════════|════════|════════|════════|



**16** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **8. Investment income** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Property rental income|96,509|96,509|55,051|55,051|
|||════════|════════|════════|════════|
|**9.**|**Costs of raising charitable activities**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Event expenses||1,058|–|1,058|
||Cafe expenses||3,102|5,959|9,061|
||Luncheon Club/Tea Dance expenses||8,436|2,550|10,986|
||Legal and professional fees||46,927|1,530|48,457|
||Bad debts||525|–|525|
||Volunteers' expenses||10,274|1,290|11,564|
||Room hire||–|10,360|10,360|
||Rates and water charges||2,724|–|2,724|
||Light, heat and power||37,556|216|37,772|
||Cleaning and waste management||1,534|–|1,534|
||Premises repairs, renewals and maintenance||40,180|–|40,180|
||Property insurance||19,436|–|19,436|
||Telephone, fax and internet||2,920|–|2,920|
||Postage, stationery and printing||–|592|592|
||Sundry expenses||1,844|57|1,901|
||IT Support||5,125|–|5,125|
||Census support service costs||675|–|675|
||Project costs||–|10,895|10,895|
||Bank charges||195|–|195|
||Depreciation & Amortisation charge||19,535|–|19,535|
||||────────|────────|────────|
||||202,046|33,449|235,495|
||||═════════|════════|═════════|



**17** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **9. Costs of raising charitable activities** _**(continued)**_ 

|**Costs of raising charitable activities** **_(continued)_**||||
|---|---|---|---|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Event expenses|295|–|295|
|Cafe expenses|8,640|9,029|17,669|
|Luncheon Club/Tea Dance expenses|1,673|–|1,673|
|Marketing and advertising of primary purpose trading|–|1,000|1,000|
|Legal and professional fees|4,447|30,450|34,897|
|Bad debts|278|–|278|
|Volunteers' expenses|2,368|3,655|6,023|
|Rates and water charges|1,376|–|1,376|
|Light, heat and power|10,931|8,440|19,371|
|Cleaning and waste management|1,181|–|1,181|
|Premises repairs, renewals and maintenance|28,886|–|28,886|
|Property insurance|10,028|8,400|18,428|
|Telephone, fax and internet|3,355|–|3,355|
|Postage, stationery and printing|478|190|668|
|Sundry expenses|1,416|1,205|2,621|
|IT Support|8,391|–|8,391|
|Bank charges|198|–|198|
|Depreciation & Amortisation charge|18,611|–|18,611|
||────────|────────|────────|
||102,552|62,369|164,921|
||═════════|════════|═════════|



## **10. Expenditure on charitable activities by fund type** 

||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Governance costs|2,400|2,400|2,400|2,400|
||═══════|═══════|═══════|═══════|



## **11. Net (expenditure)/income** 

||Net (expenditure)/income is stated after charging/(crediting):|||
|---|---|---|---|
|||**2022**|2021|
|||**£**|£|
||Depreciation of tangible fixed assets|19,535|18,611|
|||════════|════════|
|**12.**|**Independent examination fees**|||
|||**2022**|2021|
|||**£**|£|
||Fees payable to the independent examiner for:|||
||Independent examination of the financial statements|2,400<br>═══════|2,400<br>═══════|



**18** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **13. Staff costs** 

The average head count of employees during the year was Nil (2021: Nil). 

No employee received employee benefits of more than £60,000 during the year (2021: Nil). 

## **14. Trustee remuneration and expenses** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 

## **15. Tangible fixed assets** 

||Freehold|Plant and||
|---|---|---|---|
||property|machinery|**Total**|
||£|£|**£**|
|**Cost**||||
|At 1 April 2021|1,641,603|41,023|1,682,626|
|Additions|–|6,167|6,167|
||────────────|────────|────────────|
|**At 31 March 2022**|1,641,603|47,190|1,688,793|
||════════════|════════|════════════|
|**Depreciation**||||
|At 1 April 2021|140,760|28,142|168,902|
|Charge for the year|16,416|3,118|19,534|
||────────────|────────|────────────|
|**At 31 March 2022**|157,176|31,260|188,436|
||════════════|════════|════════════|
|**Carrying amount**||||
|**At 31 March 2022**|1,484,427|15,930|1,500,357|
||════════════|════════|════════════|
|At 31 March 2021|1,500,843|12,881|1,513,724|
||════════════|════════|════════════|



## **16. Investments** 

||**Investment**|
|---|---|
||**properties**|
||**£**|
|**Cost or valuation**||
|**At 1 April 2021 and 31 March 2022**|375,000|
||═════════|
|**Impairment**||
|**At 1 April 2021 and 31 March 2022**||
|**Carrying amount**||
|**At 31 March 2022**|375,000|
||═════════|
|At 31 March 2021|375,000|
||═════════|



All investments shown above are held at valuation. 

## **Investment properties** 

The investment property was revalued in February 2016 by Bilfinger GVA assuming vacant possession. 

**19** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **17. Debtors** 

|||**2022**|2021|
|---|---|---|---|
|||**£**|£|
||Trade debtors|19,791|13,370|
||Prepayments and accrued income|1,433|1,062|
|||────────|────────|
|||21,224|14,432|
|||════════|════════|
|**18.**|**Creditors:** **amounts falling due within one year**|||
|||**2022**|2021|
|||**£**|£|
||Trade creditors|5,485|2,474|
||Accruals|12,450|5,585|
||Deferred income - Unrestricted funds|14,848|8,893|
|||────────|────────|
|||32,783|16,952|
|||════════|════════|
|**19.**|**Creditors:** **amounts falling due after more than one year**|||
|||**2022**|2021|
|||**£**|£|
||Bank loans and overdrafts|1,157,016|1,157,016|
|||════════════|════════════|



The Social Investment Business loan is secured by a legal charge over the charity's freehold property and assets. The original loan repayment term was 20 years however, this has been extended by the lender via the granting of repayment holidays. 

## **20. Government grants** 

The amounts recognised in the financial statements for government grants are as follows: 

|||**2022**|2021|
|---|---|---|---|
|||**£**|£|
||Recognised in income from donations and legacies:|||
||Covid Business rates relief grants|18,000|44,022|
|||════════|════════|
|**21.**|**Related party transactions**|||
|||**2022**|2021|
|||**£**|£|
||**G Madden**|||
||G Madden is the son of M Madden – trustee of Wallsend Memorial|||
||Hall & People’s Centre.|||
||G Madden is engaged by the charity via a service level agreement|||
||to supply management services. This arrangement began in March|||
||2019.|||
||Amount due to the related party for year|21,022|16,162|
|||════════|════════|
||£3,892 is outstanding at the year end and is included in accruals.|||



**20** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **22. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||At||||**At**|
||1 April 2021|Income|Expenditure|Transfers|**31 March 2022**|
||£|£|£|£|£|
|General funds|426,988|186,999|(204,446)|4,197|413,738|
||═════════|═════════|═════════|═════════|═════════|
||At||||At|
||1 April 2020|Income|Expenditure|Transfers|31 March 2021|
||£|£||£|£|
|General funds|370,582|158,756|(104,952)|2,602|426,988|
||═════════|═════════|═════════|═════════|═════════|
|**Restricted funds**||||||
||At||||**At**|
||1 April 2021|Income|Expenditure|Transfers|**31 March 2022**|
||£|£||£|£|
|Restricted Fixed Asset Funds|386,119|–|–|(4,197)|381,922|
|National Lottery Community Fund||||||
|Awards for All|5,739|–|(5,739)|–||
|NHS CCG - Dancing for the Brain|6,321|9,375|(8,850)|–|6,846|
|North Tyneside Holiday Activity||||||
|Fund|–|18,860|(18,860)|–|–|
|Community Foundation - Music||||||
|Project|–|3,000|–|–|3,000|
||────────|────────|────────|────────|────────|
||398,179|31,235|(33,449)|(4,197)|391,768|
||═════════|════════|════════|════════|═════════|
||At||||At|
||1 April 2020|Income|Expenditure|Transfers|31 March 2021|
||£|£||£|£|
|Restricted Fixed Asset Funds|390,316|–|–|(4,197)|386,119|
|National Lottery Community Fund||||||
|Awards for All|7,129|–|(1,390)|–|5,739|
|NHS CCG - Dancing for the Brain|1,300|5,021||–|6,321|
|National Lottery Community Fund -||||||
|Covid Response|–|–|(1,595)|1,595|–|
||────────|────────|────────|────────|────────|
||398,745|5,021|(2,985)|(2,602)|398,179|
||═════════|════════|════════|════════|═════════|



**21** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2022** 

## **23. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|Tangible fixed assets|1,118,436|381,921|1,500,357|
|Investments|375,000|–|375,000|
|Current assets|110,101|9,847|119,948|
|Creditors less than 1 year|(32,783)|–|(32,783)|
|Creditors greater than 1 year|(1,157,016)|–|(1,157,016)|
||────────────|─────────|────────────|
|**Net assets**|413,738|391,768|805,506|
||════════════|═════════|════════════|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Tangible fixed assets|1,127,605|386,119|1,513,724|
|Investments|375,000|–|375,000|
|Current assets|98,351|12,060|110,411|
|Creditors less than 1 year|(16,952)|–|(16,952)|
|Creditors greater than 1 year|(1,157,016)|–|(1,157,016)|
||────────────|─────────|────────────|
|**Net assets**|426,988|398,179|825,167|
||════════════|═════════|════════════|



**22** 



**Wallsend Memorial Hall & People's Centre** 

**Company Limited by Guarantee** 

## **Management Information** 

## **Year ended 31 March 2022** 

**The following pages do not form part of the financial statements.** 

**23** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Detailed Statement of Financial Activities** 

## **Year ended 31 March 2022** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|Small donations|1,395|1,135|
|Unite T-EE & E Branch|1,400|1,300|
|Tokyo IND 2 – Patrick Topping|7,915|–|
|Victor Mann – lunch club|300|300|
|Woodward Trust|–|500|
|Karbon Homes|–|3,000|
|Project Dancing for the Brain|9,375|5,021|
|Community Foundation|–|18,000|
|National Lottery Covid 19 response|–|41,384|
|North Tyneside Holiday Activity Fund|18,860|–|
|Community Foundation – Music Project|3,000|–|
|Victor Mann – Tea Dance xmas grant|500|–|
|Covid Business rates relief|18,000|44,022|
||────────|─────────|
||60,745|114,662|
||────────|─────────|
|**Other charitable activities**|||
|Cafe income|–|35,750|
|Room hire|35,361|3,578|
|Project income|21,096|12,587|
|Miscellaneous income|1,834|1,534|
|Event income|2,689|–|
||────────|────────|
||60,980|53,449|
||────────|────────|
|**Investment income**|||
|Income from investment properties|96,509|55,050|
||────────|────────|
||─────────|─────────|
|**Total income**|218,234|223,161|
||═════════|═════════|



**24** 



## **Wallsend Memorial Hall & People's Centre** 

## **Company Limited by Guarantee** 

## **Detailed Statement of Financial Activities** _**(continued)**_ 

## **Year ended 31 March 2022** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|**Expenditure**|||
|**Costs of raising charitable activities**|||
|Census support services costs|675|–|
|Volunteers’ expenses|11,564|6,023|
|Room hire|10,360|–|
|Cleaning and waste management|1,534|1,181|
|Rates and water charges|2,724|1,376|
|Light, heat and power|37,772|19,371|
|Premises repairs, renewals and maintenance|40,180|28,886|
|Property Insurance|19,436|18,428|
|Bank charges|195|198|
|IT Support|5,125|8,391|
|Sundry expenses|1,901|2,620|
|Legal and professional fees|48,457|34,897|
|Telephone, fax and internet|2,920|3,355|
|Postage, stationery and printing|592|668|
|Depreciation and Amortisation charge|19,535|18,611|
|Event expenses|1,058|295|
|Café expenses|9,061|17,670|
|Luncheon club/ tea dance expenses|10,986|1,673|
|Marketing and advertising of primary purpose trading|–|1,000|
|Bad debts|525|278|
|Project costs|10,895|–|
||─────────|─────────|
||235,495|164,921|
||─────────|─────────|
|**Expenditure on charitable activities**|||
|Independent examiner fees|2,400|2,400|
||───────|───────|
||─────────|─────────|
|**Total expenditure**|237,895|167,321|
||═════════|═════════|
||─────────|─────────|
|**Net (expenditure)/income**|(19,661)|55,840|
||═════════|═════════|



**25**