2024-03-31-accounts

COMPANY REGISTRATION NUMBER: 07498784 CHARITY REGISTRATION NUMBER: 1140467

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

Unaudited Financial Statements 31 March 2024

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2024

	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 2024

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 2024.

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 Dr J Matthews M Lisle M Riley B Topping 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 2024

Structure, governance and management

Legal Structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Act. 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 and also members of the charity.

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. The Trustee board comprises of 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.

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 area.

In addition the charity, is the trustee of the Wallsend Memorial Hall Trust charity and has responsibility for maintaining the building as a priority object of the charity, in other words its primary purpose.

Strategic Objectives

The continued support of our strategic partner Social Investment Business has been a catalyst for change.

Our combined focus resulted in an interim plan which provides the foundation for moving the organisation forward.

As we move through implementation we would like to take this opportunity to thank Social Investment Business for their continued support and we look forward to the continuance of our relationship.

Implementation, whilst very challenging in the economic climate, goes some way in mitigating risks identified in our risk register.

Work and strategy has resulted in increased partnership working which as well as aiding financial stability is bringing new services and opportunities for residents, increasing footfall through the building.

2

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

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

Wallsend Memorial Hall and Peoples Centre is a community hub whose purpose is 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 aspirations of the local community.

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.

Our lunch clubs, tea dance and food bank have continued.

As well as our own services we facilitate and support other partners and many specialist providers, to deliver where they can reach or gain access to their targeted community of geography or interest and identity.

This means the community benefits with services delivered locally increasing their life chances and improving their wellbeing.

We give thanks to all those who contribute to our social purpose by hiring space which adds value to their work and ours.

We also thank our donors most of whom wish to remain anonymous.

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, who go above and beyond, adding to the vibrance, sustainability and homely feel of our Centre.

The Trustees wish to acknowledge a very particular contribution made to the Centre by a volunteer who sadly died suddenly in the Autumn of 2023. Keith Mather was an extraordinary individual and his loss has been felt not just by Trustees and staff but users, stakeholder organisations and fellow volunteers.

He provided leadership to the volunteer core group, providing care and support but most importantly laughs and smiles from which we all benefitted.

Achievements and performance

The main achievements and performance of the charity during the year

The operating environment has continued to be challenging, however work has reaped rewards where partnership and collaboration have been key. It's important to note that this is the start of a new era, and as we for example move to the employment of staff, we dealt with the challenge of shop rentals income that underpins our financial strategy effectively.

3

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

We continue to work with H.C. Horizons CIC who support the board with planning, strategy, grant funding applications, commissions and contracts, project development and governance and have played a significant role in the work with Social Investment Business.

They have increased our networks and collaborative work and demonstrated to stakeholders our contribution to strategic objectives for the borough and our wider impact.

We are also particularly proud of the following:

• our continued engagement of residents in services including those with complex needs and in crisis

• our work to improve practice and be responsive and knowledgeable to meet community need and aspirations

• our reach to communities of interest and identity continues to grow as well as the community of geography

• being seen by stakeholders as a key player in the third sector in North Tyneside contributing to place based working

• our measures to improve financial management

• the work of our asset manager to "sweat" space and facility management to gain income to deliver social impact work

• we have income from a range of sources and are not grant dependent

• our partnership with Anxious Minds with regards food work and supplementary services for those who are in need alongside the Veterans Community Kitchen.

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

Beneficiaries and stakeholders report through our monitoring and evaluation processes. They tell us :

• residents feel more connected and supported

• residents report improved health and wellbeing

• 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 participation and reach has increased

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

• we provide volunteering opportunities for all

4

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

• residents feel less isolated and know where they might go for help and support

We estimate some weeks in excess of 1000 residents benefit from our Centre and its services.

The degree to which the achievements and performance during the year have benefited wider society

We are pursuing aims which contribute to the regeneration of the community focusing on the economic, social and cultural needs. We will continue to generate income through trading activity as well as grant funding 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 2024 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:
	2024	2023
	£	£
Net income	(55,682)	1,152,148
Unrestricted Revenue Funds available for the general purposes of
the charity	371,018	419,971
Restricted Revenue Funds	410	2,942
Restricted Fixed Asset Funds	373,528	377,725
	────────────	─────────
	689,274	1,952,786
Total Funds	1,901,972	1,957,654

The trustees consider the financial performance of the charity during the year to have been satisfactory.

The charity defined available reserves at 31st March 2024 are calculated as follows:

			2024
		£	£
Unrestricted Reserves			371,018
Less: Net fixed assets:
	Fixed Assets	1,837,109
	Restricted fixed asset	373,528
	Designated fund	1,157,016	306,565
Charity defined available reserves			64,453

Following their review at the end of April 2022, Social Investment Business made the decision to write off their loan on 30th November 2022 on the condition that the Charity does not enter formal insolvency or seek to affect a voluntary sale of the property within 7 years of the date of write off.

Social Investment Business will retain its charge over the property for a matching period of 7 year, to be realised in the event of failure of the organisation or sale of the property within the period, and if not so triggered to be released on expiry of the 7-year period.

5

Wallsend Memorial Hall & People's Centre Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) {conkn¢Kd) Year ended 31 Ma￿h 2024 Pollcles on resgrves Unreslricted Revenue Funds availablè for the general purposes of the charity The Current aim of the charity is to provpJe a funding buffer of 6 months direct charitable expenditure within the available reserves as defined by the charity. As at 318t Ma￿h 2024 the buffer of available reserves was 3.6 months. The tharfty is working hard to achieve the target in the foreseeable future. The charity defines available reserves as unre$lricted reserves le5$ fLxed assets after deduction of designated fijnd and Teslllcted fixed a5sel fund. Availability and adequacy of ass•ts of each of th• funds The board of trustees is satisfied that the charity's assets in each fund are available and adequate lo fulfil its obligations in respect of oa¢h fvnd. Small company pr￿l$lOn8 Thi$ report has been prepared in accordance w￿￿ the provisi¢)n8 applicable to companies anlitled to th8 small companies, exemption. The trustee$, annual report was approved on ....... ....... ....... trustees by.. . and slgned on behall of the boarf of M Madden Trustee

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Wallsend Memorial Hall & People's Centre

Year ended 31 March 2024

I report to the trustees on my examination of the financial statements of Wallsend Memorial Hall & People's Centre ('the charity') for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their 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.

Jane Freeman FCCA Independent Examiner 58 Durham Road Birtley Co Durham DH3 2QJ

30/10/2024

7

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2024

			2024		2023
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	6	9,122	3,000	12,122	34,807
Other trading activities	7	54,579	–	54,579	73,916
Investment income	8	91,788	–	91,788	96,973
		─────────	───────	─────────	────────────
Total income		155,489	3,000	158,489	205,696
		═════════	═══════	═════════	════════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	9	196,738	5,532	202,270	207,264
Expenditure on charitable activities	10	11,901	–	11,901	3,300
		─────────	───────	─────────	────────────
Total expenditure		208,639	5,532	214,171	210,564
		═════════	═══════	═════════	════════════
		─────────	───────	─────────	────────────
Net (expenditure)/income		(53,150)	(2,532)	(55,682)	(4,868)
		═════════	═══════	═════════	════════════
Exceptional Income	19		–	–	1,157,016
Transfers between funds		4,197	(4,197)	–	–
		─────────	───────	─────────	────────────
Net movement in funds		(48,953)	(6,729)	(55,682)	1,152,148
Reconciliation of funds
Total funds brought forward		1,576,987	380,667	1,957,654	805,506
		────────────	─────────	────────────	────────────
Total funds carried forward		1,528,034	373,938	1,901,972	1,957,654
		════════════	═════════	════════════	════════════

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 23 form part of these financial statements.

8

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Statement of Financial Position

Year ended 31 March 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	15	1,462,109	1,483,762
Investments	16	375,000	375,000
		────────────	────────────
		1,837,109	1,858,762
Current assets
Debtors	17	15,294	15,724
Cash at bank and in hand		74,771	102,860
		────────	─────────
		90,065	118,584
Creditors: amounts falling due within one year	18	(25,202)	(19,692)
		────────	─────────
Net current assets		64,863	98,892
		────────────	────────────
Total assets less current liabilities		1,901,972	1,957,654
		────────────	────────────
Net assets		1,901,972	1,957,654
		════════════	════════════
Funds of the charity
Restricted funds - Revenue		410	2,942
Restricted funds - Fixed Asset Funds		373,528	377,725
		────────────	────────────
		373,938	380,667
Unrestricted funds		371,018	419,971
Designated funds		1,157,016	1,157,016
		────────────	────────────
		1,528,034	1,576,987
		────────────	────────────
Total charity funds	21	1,901,972 ════════════	1,957,654 ════════════

For the year ending 31 March 2024 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 23 form part of these financial statements.

9

Wallsend Memorial Hall & People's Contre Company Lbmitsd by Guarantee Statement of Financial Posltion Year ended 31 March 2024 These financial statements were approvgd by the board of trusteès and authorised for issue on nd are signed on bahaff of the bogrd by.. LQ epw L Spillard Trustee Th• not08 on pag86 11 to 23 forni part of these finanelal 8tst•ments. 10

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements

31 March 2024

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

There are no material uncertainties about the charity's ability to continue.

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.

Designated funds are ringfenced by the Charity for potential future events.

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)

31 March 2024

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

Year ended 31 March 2024

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 property	-	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 2024

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.

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.

14

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

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.

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.

6. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
Small donations	4,222	–	4,222
Unite T-EE & E Branch	1,300	–	1,300
Quality Fast Facades	1,800	–	1,800
Foxton NE - topping	1,000	–	1,000
Grants
Victor Mann - Tea Dance Xmas grant	500	–	500
Victor Mann - Lunch club	300	–	300
North Tyneside Council - Foodbank Funding	–	3,000	3,000
	───────	───────	────────
	9,122	3,000	12,122
	═══════	═══════	════════

15

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

6. Donations and legacies (continued)

Donations and legacies(continued)
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Small donations	1,415	–	1,415
Unite T-EE & E Branch	1,300	–	1,300
Northern Community Power	1,500	–	1,500
Donated assets	3,794	–	3,794
Grants
Project Dancing for the Brain	–	4,688	4,688
North Tyneside Holiday Activity Fund	–	10,260	10,260
Victor Mann - Tea Dance Xmas grant	300	–	300
Victor Mann - Lunch club	300	–	300
Neighbourly Food Bank	–	1,000	1,000
Community Foundation - cafe	–	2,000	2,000
North Tyneside VODA	4,750	–	4,750
Victor Mann - Jubilee Party	3,500	–	3,500
	────────	────────	────────
	16,859	17,948	34,807
	════════	════════	════════

7. Other trading activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Room Hire	39,248	39,248	46,221	46,221
Project income	9,029	9,029	23,176	23,176
Miscellaneous income	1,033	1,033	1,016	1,016
Event income	5,269	5,269	3,503	3,503
	────────	────────	────────	────────
	54,579	54,579	73,916	73,916
	════════	════════	════════	════════

8. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Income from investment properties	91,788	91,788	96,973	96,973
	────────	────────	─────────	─────────
	91,788	91,788	96,973	96,973
	════════	════════	═════════	═════════

16

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

9. Costs of raising charitable activities

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Event expenses	3,529	–	3,529
Catering expenses	1,707	–	1,707
Luncheon Club/Tea Dance expenses	6,349	–	6,349
Legal and professional fees	42,965	–	42,965
Caretaker costs	1,180	493	1,673
Volunteer's expenses	9,798	–	9,798
Room hire	–	–	–
Rates and water charges	2,790	–	2,790
Light, heat and power	33,239	–	33,239
Cleaning and waste management	2,773	–	2,773
Premises repairs, renewals and maintenance	24,957	1,127	26,084
Property insurance	22,547	–	22,547
Telephone, fax and internet	1,546	–	1,546
Postage, stationery and printing	663	–	663
Sundry expenses	3,382	66	3,448
IT Support	4,215	–	4,215
Wages	9,745	–	9,745
Project costs	3,362	3,846	7,208
PAYE interest	4	–	4
Donation	32	–	32
Bank charges	302	–	302
Depreciation & amortisation charge	21,653	–	21,653
	────────	────────	────────
	196,738	5,532	202,270
	═════════	════════	═════════

17

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

9. Costs of raising charitable activities (continued)

	Unrestricted	Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
Event expenses		3,002	150	3,152
Cateringfe expenses		3,626	1,150	4,776
Luncheon Club/Tea Dance expenses		10,519	2,701	13,220
Legal and professional fees		43,110	6,911	50,021
Caretaker costs		204	–	204
Volunteer's expenses		11,907	368	12,275
Room hire		–	8,190	8,190
Rates and water charges		1,733	–	1,733
Light, heat and power		38,837	–	38,837
Cleaning and waste management		2,337	–	2,337
Premises repairs, renewals and maintenance		18,490	–	18,490
Property insurance		21,179	–	21,179
Telephone, fax and internet		638	–	638
Postage, stationery and printing		650	–	650
Sundry expenses		1,959	–	1,959
IT Support		3,561	–	3,561
Census support service costs		–	–	–
Project costs		–	5,382	5,382
Bank charges		271	–	271
Depreciation & amortisation charge		20,389	–	20,389
		────────	────────	────────
		182,412	24,852	207,264
		═════════	════════	═════════
10. Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Governance costs	11,901	11,901	3,300	3,300
	════════	════════	═══════	═══════
11. Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting):

	Net (expenditure)/income is stated after charging/(crediting):
		2024	2023
		£	£
	Depreciation of tangible fixed assets	21,653	20,389
		════════	════════
12.	Independent examination fees
		2024	2023
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	2,640	3,300
		═══════	═══════

18

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2024	2023
	£	£
Wages and salaries	9,745 ═══════	– ════

The average head count of employees during the year was 1 (2023: Nil).

No employee received employee benefits of more than £60,000 during the year (2023: 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 asset

Tangible fixed asset
	Freehold	Plant and
	property	machinery	Total
	£	£	£
Cost
At 1 April 2023 and 31 March 2024	1,641,603	50,984	1,692,587
	════════════	════════	════════════
Depreciation
At 1 April 2023	173,592	35,233	208,825
Charge for the year	16,416	5,237	21,653
	────────────	────────	────────────
At 31 March 2024	190,008	40,470	230,478
	════════════	════════	════════════
Carrying amount
At 31 March 2024	1,451,595	10,514	1,462,109
	════════════	════════	════════════
At 31 March 2023	1,468,011	15,751	1,483,762
	════════════	════════	════════════

16. Investments

	Investment
	properties
	£
Cost or valuation
At 1 April 2023 and 31 March 2024	375,000
	═════════
Impairment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024	375,000
	═════════
At 31 March 2023	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 2024

17. Debtors

	2024	2023
	£	£
Trade debtors	11,753	10,647
Prepayments and accrued income	3,541	5,077
	────────	────────
	15,294	15,724
	════════	════════
Creditors: amounts falling due within one year
	2024	2023
	£	£
Trade creditors	2,465	3,916
Accruals and deferred income	22,570	15,776
Social security and other taxes	167	–
	────────	────────
	25,202	19,692
	════════	════════

18. Creditors: amounts falling due within one year

19. Contingencies

The Social Investment Business loan was written off on 30th November 2022 on condition that the Charity does not enter formal insolvency or seek to affect a voluntary sale of the property within 7 years of the date of write off.

Social Investment Business will retain its charge over the property for a matching period of 7 years, to be realised in the event of failure of the organisation or sale of the property within the period, and if not so triggered to be released on expiry of the 7 year period.

20. Related parties

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.

This arrangement began in March 2019.
	2024	2023
	£	£
Amount due to the related party in year	22,610	19,793

£1,980 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 2024

21. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
						At
	At 1 April 2023	Income	Expenditure	Transfers		31 March 2024
	£	£	£			£
General funds	419,971	155,489	(208,639)	4,197		371,018
Designated fund	1,157,016	–	–			1,157,016
	────────────	─────────	─────────	─────────		────────────
	1,576,987	155,489	(208,639)	4,197		1,528,034
	════════════	═════════	═════════	═════════		════════════
		Income &
		Exceptional				At
	At 1 April 2022	Income	Expenditure	Transfers		31 March 2023
	£	£	£	£		£
General funds	413,738	187,748	(185,712)	4,197		419,971
Designated fund	–	1,157,016	–	–		1,157,016
	────────────	────────────	─────────	─────────		────────────
	413,738	1,344,764	(185,712)	4,197		1,576,987
	════════════	════════════	═════════	═════════		════════════
Restricted funds
						At
	At 1 April 2023	Income Expenditure		Transfers	31 March 2024
	£	£	£	£		£
Restricted Fixed Assets Funds	377,725	–	–	(4,197)		373,528
Community Foundation - Cafe	2,000	–	(2,000)	–		–
Neighbourly Food Bank	942	–	(942)	–		–
North Tyneside Council -
Foodbank Funding	–	3,000	(2,590)	–		410
	─────────	────────	─────────	─────────		─────────
	380,667	3,000	(5,532)	(4,197)		373.938
	═════════	════════	═════════	════════		═════════
						At
	At 1 April 2022	Income Expenditure		Transfers	31 March 2023
	£	£	£	£		£
Restricted Fixed Assets Funds	381,922	–	–	(4,197)		377,725
NHS CCG - Dancing for the
Brain	6,846	4,688	(11,534)	–		–
Community Foundation - Music
Project	3,000		(3,000)	–		–
Community Foundation - Cafe	–	2,000	–	–		2,000
North Tyneside Holiday Activity
Fund	–	10,260	(10,260)	–		–
Neighbourly Food Bank	–	1,000	(58)	–		942
	─────────	─────────	─────────	─────────		─────────
	391,768	17,948	(24,852)	(4,197)		380,667
	═════════	════════	═════════	════════		═════════

21

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

22. Analysis of net assets between funds

	Unrestricted	Restricted	Designated	Total Funds
	Funds	Funds	Funds	2024
	£	£	£	£
Tangible fixed assets	–	373,528	1,088,581	1,462,109
Investments	375,000	–	–	375,000
Current assets	21,220	410	68,435	90,065
Creditors less than 1 year	(25,202)	–	–	(25,202)
	─────────	─────────	────────────	────────────
Net assets	371,018	373,938	1,157,016	1,901,972
	═════════	═════════	════════════	════════════
	Unrestricted	Restricted	Designated	Total Funds
	Funds	Funds	Funds	2023
	£	£	£	£
Tangible fixed assets	–	377,725	1,106,037	1,483,762
Investments	375,000	–	–	375,000
Current assets	64,663	2,942	50,979	118,584
Creditors less than 1 year	(19,692)	–	–	(19,692)
	─────────	─────────	────────────	────────────
Net assets	419,971	380,667	1,157,016	1,957,654
	═════════	═════════	════════════	════════════

22

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Management Information

Year ended 31 March 2024

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 2024

	2024	2023
	£	£
Income and endowments
Donations and legacies
Small donations	4,222	1,415
Unite T-EE & E Branch	1,300	1,300
Northern Community Power	–	1,500
Quality Fast Facades	1,800	–
Foxton NE - topping	1,000	–
Project Dancing for the Brain	–	4,688
North Tyneside Holiday Activity Fund	–	10,260
Victor Mann - Tea Dance Xmas grant	500	300
Neighbourly Food Bank	–	1,000
Victor Mann – Lunch club	300	300
Community Foundation - Cafe	–	2,000
North Tyneside VODA	–	4,750
Victor Mann - Jubilee	–	3,500
Donated assets	–	3,794
North Tyneside Council - Foodbank Funding	3,000	–
	────────	────────
	12,122	34,807
	────────	────────
Other trading activities
Room hire	39,248	46,221
Project income	9,029	23,176
Miscellaneous income	1,033	1,016
Event income	5,269	3,503
	────────	────────
	54,579	73,916
	────────	────────
Investment income
Income from investment properties	91,788	96,973
	────────	─────────
	91,788	96,973
	────────	────────
	─────────	────────────
Total income	158,489	205,696
	═════════	════════════

24

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Detailed Statement of Financial Activities (continued)

Year ended 31 March 2024

	2024	2023
	£	£
Expenditure
Costs of raising charitable activities
Wages and salaries	9,745	–
Volunteers' expenses	9,798	12,275
Room hire	–	8,190
Cleaning and waste management	2,773	2,337
Rates and water charges	2,790	1,733
Light, heat and power	33,239	38,837
Premises repairs, renewals and maintenance	26,084	18,490
Property Insurance	22,547	21,179
Bank charges	302	271
IT Support	4,215	3,561
Sundry expenses	3,448	1,959
Legal and professional fees	42,965	50,021
Telephone, fax and internet	1,546	638
Postage, stationery and printing	663	650
Depreciation and amortisation charge	21,653	20,389
PAYE interest	4	–
Event expenses	3,529	3,152
Catering expenses	1,707	4,776
Luncheon club/tea dance expenses	6,349	13,220
Donation	32	–
Caretaker costs	1,673	204
Project costs	7,208	5,382
	─────────	────────────
	202,270	207,264
	─────────	────────────
Expenditure on charitable activities
Bookkeeping	9,261	–
Accountancy	2,640	3,300
	────────	───────
	11,901	3,300
	────────	───────
	─────────	─────────
Total expenditure	214,171	210,564
	═════════	═════════
	─────────	────────────
Net (expenditure)/income	(55,682)	(4,868)
Exceptional income - loan write off	–	1,157,016
	────────	────────────
Net movement in funds	(55,682) ────────	1,152,148 ────────────

25

Wallsend Memorial Hall & People's Centre

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2024

28