Company Registration Number 7304473 Charity Registration Number 1142076 Jubilee Centre (Cambridge) Company Limited by Guarantee Unaudited Financial statements 31 March 2024
Jubilee cent (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2024 CONTENTS Pages Trustees, Report Independent exarninerfs report Statement of Financial Actlvities Balance Sheet Statement of Cash flow Notes to the Accounts io 11 13 14-21
Jubilee Centre {Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 The Trustees present thelr report and unaudited accounts for the year ended 31 March 2024. Trustees who seThed during the year and to the date of this report Dr Paul Mills Kim Pearson Catherine Hammond (Resigned 17 September 2024) Dr Michael Schluter (Resigned 15 April 2024) Matthew Ferguson (Appointed 15 April 20241 lan Stackhouse (Appointed IS April 2024) Chair Dr Michael Schluter {Resigned 15 April 2024} Dr Paul Mills (Appointed 15 April 2024) Reglstered Offlce Allia Future Business Centre. King's Hedges Road, Cambridge. CB4 2HY Independent Examiner Keith Haddow 24 Mingle Lane, Stapleford, Cambrldgeshire
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2024 Trusteeg Report The financial statements complywiththe CharitiesACt2011, the Companles Acr 2006, the Memorandum and Articles of Association. and Accounting and Reporting of Charities: Statements 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) (effective l January 2019). Objectlves and Actlvltles The main objertive of the Jubilee Centre {Cambridge} as stated in the Memorandum and Articles of Association is the promotion of the Christian religion and the advancement of education by: Carrying Out research into what the Bible teaches about social, political and economic institutions and policyand whatthe Bible says aboutsuch institutions and how policy can be used to provide insight into the problems of contemporary societies. Publishin8 the findings of such research Into the general publlc and in partlcular to Christian churches and Christians throu8h teachin& preachin8 and writing. Publlc Beneflt Statement The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on Public Benefit, Charities and Public Benefit. All of the Chariws activities are intended to contribute towards the realisation of the vision-promoting the social, economic, environmental and spiritual welfare of all of society. Achlevements and performance The year of 2023124 was one of consolidation and recovery under God's gracious providence in the face of several trials, including limited financial resources. The Centre returned to its original focus of applying the Bible to public policy with a special emphasis on the quality of relationships. The Centre published 17 blog and feature articles during the year on topics ranging from demographic decline and peacebuilding in Ukraine to the future of money and
Jubilee Centre (Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 the health benefits of close relationshlps. Flve feature articles became the bases for webinars for sUPPOrters to hear from, and question, the authors. The Centre's podcast series was also initiated during the year as the Centre's Social media presence was curated on Facebook, Twitter/X and Linkedln. Plans for the future During 2024125, the Centre has been able to employ Ruben Alarcon on a more permanent basis and has developed its partnership with Sallux (the European Christlan Political Movement) in a number of joint webinars. In addition to blogs, articles and webinars the Centre hopes to expand Its podcast series and develop plans for a residential training course for supporters in 2025. Should resources permit, the Centre would consider restarting original research in applying different aspects of the relational model to societv. Flnanclal Review 2023124 Income Income for 2023124 amounted to £71.233 {2023: £67,498) an Increase of £3,735 on last year. Expenditure Charitable expenditure 2023/24 amounted to £23,689 (2023: £99,136) a decrease of £75,447 from the prior reported period. Reserves All reserves held by the charity were unrestricted reserves as of 31 March 2024: £47,572 from reserves as at 31 March 2023: £28. Please refer to Page 8 for the Reserves policy.
Jubilee Centre (Cambridge) Trustees. Report and Unaudlted Accounts For the Year Ended 31 March 2024 Structure. Governance and Management The Charity is a company limited by guarantee, governed by a Memorandum and Articles of Association. The CompanV5 objects and Articles of Association as submitted to the Charity Commission and Companies House follow that: The chariVs Board is the ultimate decision-making body to manage the organisation on a day-to-day basis. Board members will also be known as directors for the purposes of company law. The number of Trustees is subject to a maximum of ten but shall never be less than three. A Trustee's term of office shall be five years from the date of appointment, there is no limit on the number of times a Trustee'5 term of office may be extended. The Trustee5 may appoint a person who is willin8 to act as a Director. A Trustee shall cease to hold office if he or she is absent without the permission of the Directors from three consecutive meetings and the Directors resolve that his or her office be vacated. Statement of Trusteg Responsibilitles The Trustees (who are also Oirertors of the Jubilee Centre (Cambridge) for the purposes of company lawl are responsible for preparingthe Trustees, Report and the financlal statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year. In Preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP 2019 {FRS 1021. Make judgements and estimates that are reasonable and prudent.
Jubilee Centre {Cambridge) Trustees. Report and Unaudited Accounts Forthe Year Ended 31 March 2024 State whether applicable UK Accounting Standards have been followed, subjert to any material departures di%losed and explained in the financial Statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in operation. The Trustees are responsible for keepin8 adequate accounting records that disclose with reasonable accuracy at anytime the financial position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularities. The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Charitable Companls website. Le8islation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions. Trustee indurtlon and tralnlng Once new Trustees have been appointed, they 80 through an intemal induction process where they are invited to meet key Trustees. During their induction, new Trustees are briefed on their legal obligations under charity and company law. Organlsatlon The governing body of the Charlty is the Board of Trustees, which met approximately every three months during the financial year 2023124. Four trustees, including the Chair, served throughout 2023124. Rlsk and Internal Control The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. Trustees are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities providing reassurance that: The Charity complies with relevant laws and regulations. Its assets are safeguarded against unauthorised use or disposition.
Jubilee Centre (Cambridge) Trustees. Report and Unaudlted Accounts For the Year Ended 31 March 2024 Proper records are maintained, and financial information used within the Charity or for publication 15 reliable. The principal risks facing the Charity are financial in ensuring that sufficient monies are available to ensure the continuity of ongoing activities of the Charity. The Charity is looking to mitigate this risk by reviewing diverse and sustainable sources of income to achieve its strategic objectives. There are no plans to employ staff. Reserve5 Policy Jubilee Centre (Cambridge) employs one member of staff12024-25: 30 hours a weekl and therefore the Trustee5 are aware of the need to reserve fund5 to cover outstanding staff costs. Mr Kim Pear50n Treasurer Date: 10 December 2024
Jubllee Centre (Cambrldge) Trustees. Report and Unaudited Ac¢ourts For the Year Ended 31 March 2024 Independent Examlnerfs Report to the Trustees of Jubllee Centre {Cambrldge) For the year ended 31 March 2024 I report to the Trusteeson myexaminatron of thefinancial ststements ofjubilee Centre (Cambridge} "the tharitf for the yeèr ended 31 Marth 2024. Responsiljilltles and basls of report As the chariws trustees of the Company land also rts dIrtOrS for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 20061.the 21X)6 ACV). Havlng satlsfied Myself thatthe accounts of the Company are not required to be audlted under Part 16 of the 2(K16 Act and are eligible for independent examination, I report in respect of mv examination of your charW5 occounts as carrled out under 5ertion 145 of the Charities Art 2011 {'the 2011 ACYI. In carryltYA out my examination I have followed the Directions given by the Charity Commi55ion under settion 145151 Ibl of the 2011 Act. Independ•nt examlnerfs stst•m•nt I have completed my examination. I conflrm that no matters have come to my attentlon In connection with the examination 8lvln8 rne cause to believe: l. accountin8 records were not kept in respect of the Company as required by sectlon 386 of the 2LK)6 Act: or 2. the accounts do not accord wlth those records; or 3. the accounts do not comply with the ac¢ounting requlrements of sertlon 396 of the 2CK)6 Act other than any requirement that the accounts glve a 'true and falr vlew which 15 not matter considered as part of an independent examlnation. or 4. the account5 have not been prepared in accordan wlth the methods and princlples of the Statement of Recommended Practice for accountlng and reporting by charltles preparing thelr accounts in accordance with the Financial ReportiThg Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no COnrn5 and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Keith Haddow FCA Independent Examiner
Jubilee Centre {Cambridge} Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 Statement of Financlal Artlvltles Including Income and Expendlture Account For The Year Ended 31 March 2024 Total Total Unrestrlcted Funds Notes 2024 2023 Income Donations and le8acies Income from charitable activitles Other income 68.313 68,313 54,394 12,394 710 2.920 2.920 Total Incoming resources 71,233 71,233 67,498 Ex endlture Expenditure on charitable activities 123.689) (23,689) (99,136) Total expenditure (23,689) (23,689) (99,136> Net movement In funds 47,544 47.544 131,638) Reconciliation of Funds Fund Balance at l April 2023 31,666 Total funds carried foThvard 47,572 47.572 28 All of the artivities of the Charitable Company are classified as continuing. The notes on pages 14-21 form part of these financial Statements. 10
Jubllee Centre {Cambridge) Trustees. Report and Unaudited Accounts Forthe Year Ended 31 March 2024 Balance Sheet as at 31 March 2024 Company Number: 7304473 2024 2023 Note5 Current Assets Debtors 12 2.328 Cash at bank and in hand 46,866 49,194 2,452 2,452 Credltors: amounts falllng due within one year 13 (1,622) (2.4241 Total assets less current Ilabllltles 47,572 28 Net assets 47,572 28 The funds of the Charlty Unrestricted funds 47,572 28 47.572 28 For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 related to small cornpanies. The members have not required the company to obtain an audit in accordance with section 476 of the Companles Att 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts, ensuring that they give 3 true and fair view of the state of affairs of the charitable company as at 31 March 2024 and of its surplus forthe yearthen ended in accordance wlth the requirements of Section 396 and which otherwise comply with the requirements of the Act relating to the financial statements as far as applicable to the Charitable company. These financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006. 11
Jubllee Centre (Cambridge) Trustee< Report and Unaudited Accounts For the Year Ended 31 March 2024 The notes on pages 14-21 form part of these financial statements. Approved by the Board of Trustees 10 December 2024 and signed on its behalf by: Mr Kim Pearson Treasurer 12
Jubilee Centre (Cambridge) Trustee< Report and Unaudited Accounts For the Year Ended 31 March 2024 Statement of Cash Flow As at 31 March 2024 2024 2023 Income for the reportlng periods (as per the statement of flnanclal actMtle5) Adjustments for: {Gain}/Loss on disposal of tangible fixed assets 47,544 {31,638} {1501 Changes In: Trade and other debtors Trade and other creditors Net cash flow from operatlng artivitles {2.328) 8,163 18021 11,2531 44,414 124,8781 Cash flows from Investlng actlvlt5es: Proceeds from sales of tangible asset5 Net cash flow from Investlng activities 150 150 Cash flows from flnanclng actlvftles: Repayment of borrowing Net cash flow from financing artivities {12,0001 {12,0001 Net Increase/ldecrease) In cash 44.414 (36,7281 Cash and cash equlvalents at l Aprll 2023 1452 39,180 Cash and cash equivalents at 31 March 2024 46.866 2,452 Cash and cash equivalents consists of: Cash at bank and in hand 46.866 46,866 2,452 2,452 13
Jubilee Centre (Cambridge) Tru5tee< Report and Unaudited Accounts For the Year Ended 31 March 2024 Notes fornilng part of the Financial Statements for the year ended 31 March 2024 Accounting Poliues The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: {a) Basls of Preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffectlve January 2015} (Charities SORP 20191 and the Companie5 Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s}. They are prepared in sterling whlch is the functional currencyof the Charitable Company and rounded to the nearest £1. {bl Preparatlon of the accounts on a goln8 concern basls The Trustees have considered the financial sustainability of the charity for both existing and future funding streams. The Charity received a substantial legacy In April 2023 that has provided the funding to finance and grow future activities. The trustees are confident that both the c05t management measures in place as well as the decision to gradually increase the hour5 of staff in Sine with income will ensure the continuity of the Charity over the new two years. On this basis the assessment of the trustees is that the charity is a going concern. (cl Fund Accountlng Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Such funds may be held to finance both workin8 capital and capital investment. 14
Jubllee Centre {Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 Idl Income All incoming resources are included in the statement of financial activities when the Charty is entitled to the income, there is sufficient certainty of receipt, and the amount can be quantified with reasonable accuracy. The followlng specific policies are applied to categories of income. Grant income is included when the related conditions to the 8rant have been met. Donations and legacies income is received by way of donations and glfts and is included in full in the Statement of Financial Activities when receivable. All other income is accounted for on a receivable basis. (e) Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured rellably. The accounts are prepared on the accrua15 basis, liabilities are recognised as resources expended as soon as there Is a legal or constructive obligation commlttlng the Charity to expenditure. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Expenditure on raisingfunds consists of all those expensesthat are incurred by trading for a fundraising purpose in either donated or brought-in-goods or in providing non-charitable services to generate income, as well as the costs associated with attracting voluntary income. Expenditure on charitable activities comprise all the resources applied by the Charity in undertaking its work to meet its charitable objectives as we51 as the cost of raising the funds to finance these activities and governance costs. Charitable activities are all the resources expended by the Charity in the delivery of goods and services, including its programme and projett 15
Jubilee Centre {Cambridge} Trustee Report and Unaudited Accounts For the Year Ended 31 March 2024 work that is directed at the achievement of its charitable aims and objectives. These costs include direct costs of the charitable activities together with those support costs incurred that enable these activities to be undertaken. as well as governance costs which relate to the general running of the Charity as opposed to the direct management functions inherent in generating funds. seniice delivery and programme of project work. These activities provide the governance infrastructure which allows the Charity to operate and to generate the information required for public accountability and Include the strategic planning purposes that contribute to future development of the Charity. Governance costs include such items as external audit, legal advice for Trustees and costs associated with the constitutional and statutory requirements of the Charity. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. If) Tangible Assets Tangible assets are defined as those that have a greater value than £1,000. They 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 impairment losses. An increase in the carrying amount of the assets as a result of a revaluation Is recognised in other recognised gains and losses, unless it reverses a charge for impainnent that has previously been recognised as expenditure within the SOFA. 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 1055 15 shown within other recognised gains and losses on the SOFA. Depreciation is calculated to write off the cost or valuation of an assets, less its residual value, over the usefvl economic life of that asset as follows: 16
Jubilee Centre {Cambridge) Trustee< Report and Unaudited Accounts For the Year Ended 31 March 2024 Fixture and Fittings IO% straight-line on a full month basis Equipment Iooh straight-line on a full month basis {g) Heritage assets The Jubilee Centre (Cambrid8e) mana8ed the production of five sculptures previously displayed publicly in Cambridge up to 20 January 2020. Four of the sculptures were disposed of during 2022-23. The remaining sculpture was fully depreciated in 2021-22. It is currently on loan to a like-minded Christian charity. 2 Legal status of the Trust The Charity is a company limited by guarantee and has no share capitsl. In the event of the charity being wound up, the liability In respect of the guarantee is limited to £1 per member of the charity. 3 Income Unrestrlrted Total Funds 2024 Unre5trirted Total Funds 2023 2024 2023 Donatlons 11.0 11,0 54.394 54,394 Legacies 57.296 57,296 Income frorn charltable actlvllles Grants 12,394 12,394 Other Incom¢ Gain on dlsposal of tangible fixed assets held for charity's own use 150 150 Sales of publlcatlons 2.254 510 510 Other income 50 50 Total 71.233 71233 67.498 67,498 17
Jubilee Centre {Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2024 4 Total Expendlture The Statement of Financial Artlvities provides an analysis of the resources expended by the charity by the nature of activities undertaken by the charity. Expendlture on charltable actlvltles 2024 2023 Total Total Accountancy Advertising & Marketing Consultancy Events 4,106 2.534 12,550 4,106 2.534 12,550 4,839 490 1,861 80 Fees 758 Governance Costs Insurance ioi 356 554 2.116 607 3,683 83,380 80 150 IT costs 461 174 461 174 Office costs Other Prlntin8 and postage Salaries and wa8es stationery Subscrlptlons Travel Total Resources Expended 1.5(Ki 1,500 150 150 210 210 81 23,689 99,136 Expendlture in 2024 and 2023 was all unrestritted. 5 Net (expenditure)fincome Net (expenditure)/income Is stated after tharglng/(credltlng): 2024 2023 Loss/(Gain} on disposal of tangible fixed assets 11501 18
Jubilee Centre (Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 6 Independent examination fee5 2024 2023 Independent examination fees 7 Staff costs The total staff and employee beneftts for the period are analysed as follows: 2024 2023 Wages and salaries Social Security costs Employer contributions to pension plans 75,779 2,570 5,030 83,379 The average head count of employees during the period was 012023.3). No employee received employee benefits of more than £60,000 durlng the year {2023: Trustees One of the Trustees (Paul Mills} received remuneration {honorarium for writing) during the year of £500 (2023: nill. Green Caterpillar Consulting Ltd, a company of which a trustee {Mr Kim Pearson) is a dirertor, provided accountancy services to the charity Costing £3600 {2023: nil). There are no other related party transactions. 9 Taxation The Company is a registered Charity. and no provision is considered necessary for taxation to the extent that income and gains are applied to its charitable objects. 19
Jubilee Centre (Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2024 10 Heritsge A55ets Sculptures Totsl Costs As 01 April 2023 22,151 22,151 As at 31 Mah 2024 22,151 22,151 Depreclatlon As 01 April 2023 22,151 22,151 As at 31 March 2024 22,151 22,151 Net Book Value 31 March 2024 Net Book Value 31 March 2024 11 Debtor5 2024 2023 Trade debtor5 Prepayments and accrued income 328 Total 2,328 12 Credltors Creditors: amount falling due within one year 2024 2023 Trade creditors Other creditors 1.622 2,264 160 Total 1.622 2,424 20
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts Forthe Year Ended 31 March 2024 13 Analy515 of Fund Movements Balance at 0110412023 28 Movement in funds Income Expenditure 71.233 (23.689) 71,233 123,689) Balance at 3110312024 47.572 47,572 Unrestrlcted Funds Total Funds 28 14 Analy51s of Net Assets Between Funds Unrestrfcted funds Total Fund balances at 31 Mar 2024 are represented by: Current Assets Credltors: amounts falling due within one year 49,194 (1,622} 49,194 (1,622) Total 47,572 47,572 Fund balances at 31 Mar 2023 are represented bv: Current Assets Creditors: amounts falling due within one year 2,452 (2,424} 2,452 (2,424) Total 28 28 21