CHARITY NUMBER: 1151344
WARKWORTH HARBOUR COMMISSIONERS
ACCOUNTS
2022
WARKWORTH HARBOUR COMMISSIONERS
Charity No: 1151344
REPORT AND FINANCIAL STATEMENTS
for the year ended 30 November 2022
NICKALLS ACCOUNTANTS LTD
4 Bridge Street Amble Northumberland
WARKWORTH HARBOUR COMMISSIONERS
CONTENTS
Page
| 1 | Legal and Administrative Information | ||
|---|---|---|---|
| 2 | - | 4 | Report of the Trustees |
| 5 | Independent Accountant’s Report | ||
| 6 | Statement of Financial Activities | ||
| 7 | - | 8 | Balance Sheet |
| 9 | - | 13 | Notes to the Accounts |
WARKWORTH HARBOUR COMMISSIONERS
LEGAL AND ADMINISTRATIVE INFORMATION
The organisation was originally formed under the Harbour Act 1837. It became a charity on 22 March 2013 with a Charity Registered number of 1151344.
INCORPORATION: TRUSTEES: M Burnett (Chairman) A March D Gray J Watson (Treasurer) P Morrison J Johnstone J Hoskin B Douglas REGISTERED OFFICE: Quayside Amble Morpeth Northumberland NE65 0AP ACCOUNTANTS: Nickalls Accountants Ltd. 4, Bridge Street Amble Northumberland NE65 0DR
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WARKWORTH HARBOUR COMMISSIONERS
REPORT OF THE TRUSTEES
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2022
The management Trustees their annual report and financial statements for the year ended 30 November 2022.
Structure Governance and Management
Governing Document
The trustees have adopted provisions of the Statement of Recommended Practice, Accounting and Reporting by preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)and with the Charities Act 2011.
Recruitment and Appointment of Management Committee
The organisation’s main areas of interest are balanced and reflected in the diversity of the trustees. Where particular skills are required to complement existing trustees skills, individuals are approached to offer themselves for election to the board of Trustees. Currently there is a full Board of Trustees.
Trustees Induction and Training
Trustees partake in an informal induction covering roles and responsibilities of existing trustees and themselves, the structure of the organisation and key partners.
Charity Commission documents issued to the trustees include Useful Guidelines – Trustees Responsibilities and the Essential Trustee – what you need to know.
Risk Management
The Trustees need to conduct a review of the major risks to which the charity is exposed and establish a risk register to be updated annually.
The trustees continue to review all policies and procedures on an annual basis.
Organisation Structure
Warkworth Harbour Commissioners operates with a board of 9 trustees, who meet on a bi-monthly basis. At present there is a full complement of members from a variety of backgrounds relevant to the work of the charity.
There is a facility to co-opt further trustees if the remaining trustees determine that it would be in the interests of the charity to do so.
Related Parties
In so far as it is complimentary to the Charity’s objects, the charity is guided by local, regional and national policy, together with any undertakings associated with the Harbours Act
Objectives and Activities
The object of the charity is the construction, improvement and maintenance of piers and harbour of Amble, Northumberland.
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WARKWORTH HARBOUR COMMISSIONERS
REPORT OF THE TRUSTEES
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2022
Financial Review
Against the current backdrop of limited resources and insecurities over funding, it has continued to be difficult to plan or develop services. Nevertheless, with the aid of sound financial management, the charity has been able to support its enterprises and other projects throughout the year.
Reserves Policy
The Management Committee has examined the charity’s requirements for reserves in light of the main risks to the organisation. An unrestricted fund is required of at least 6 months expenditure. The reserves are needed to meet the working capital of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The strategy is to continue to build reserves through planned operational surpluses, and this will be kept under review by the Management Committee through its regular meetings. In the short term the Management Committee has also considered the extent to which existing activities could be curtailed, should the circumstance arise.
Reserves Policy cont.
The movement for the year has been allocated to reserves as follows:
| Unrestricted funds Restricted funds |
169,931 - _ 169,931 |
|---|---|
Total reserves carried forward at 30 November 2022 are:
| Unrestricted funds | Designated funds | 455,955 | |
|---|---|---|---|
| Undesignated funds | 1,431,785 | ||
| _ | |||
| 1,898,740 | |||
| Restricted funds | - | ||
| _ | |||
| 1,898,740 _ |
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WARKWORTH HARBOUR COMMISSIONERS
REPORT OF THE TRUSTEES
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2022
Responsibilities of the Trustees
Charity law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the Management Committee should follow best practice and:
-
Select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on …………………………… and signed on its behalf by:
…………………………………
J WATSON
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED
FINANCIAL STATEMENTS OF WARKWORTH HARBOUR COMMISSIONERS
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
examine the financial statements under section 145 of the Charities Act;
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
to state whether particular matters have come to my attention
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a “true and fair view” and the report is limited to those matters set out in the statement below
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare financial statements which accord with the accounting records, comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
…………………………………….
Mrs P Grahamslaw ACA Nickalls Accountants Ltd 4 Bridge Street Amble NE65 0DR
Date: …………………………….
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WARKWORTH HARBOUR COMMISSIONERS
STATEMENT OF FINANCIAL ACTIVITIES
(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2022
| NOTES Unrestricted Restricted Funds Funds £ £ INCOMING RESOURCES Incoming Resources From Generated Funds Grant income 2 13,457 - Voluntary income 2 6,550 - Activities For Generating Funds Trading operations 2 162,957 - Rental income 2 193,046 - Other income 2 43,783 - _ _ TOTAL INCOMING RESOURCES 419,793 - _ _ RESOURCES EXPENDED Cost of generating funds 3 243,273 - Cost of charitable activities 3 - - Governance costs 3 6,589 - _ _ TOTAL RESOURCES EXPENDED 249,862 - _ _ NET MOVEMENT FOR THE YEAR 169,931 - |
Total 2022 £ 13,457 6,550 162,957 193,046 43,783 _ 419,793 _ 243,273 - 6,589 _ 249,862 _ 169,931 |
Total 2021 £ 9,764 495 129,048 142,489 26,428 _ 323,224 _ 176,141 - 2,581 _ 178,722 _ 144,502 |
|---|---|---|
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WARKWORTH HARBOUR COMMISSIONERS
BALANCE SHEET AS AT 30 NOVEMBER 2022
| NOTES | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| FIXED ASSETS | 5 | 1,583,867 | - | 1,583,867 | 1,356,636 |
| _ | _ | _ | _ | ||
| CURRENT ASSETS | |||||
| Debtors | 6 | 99,853 | - | 99,853 | 111,926 |
| Investments | 2 | - | 2 | 2 | |
| Cash at bank | 281,274 | - | 281,274 | 358,279 | |
| _ | _ | _ | _ | ||
| 381,129 | - | 381,129 | 470,207 | ||
| _ | _ | _ | _ | ||
| DEDUCT: Creditors due within one year | |||||
| Creditors | 7 | - | - | - | - |
| Accrued charges | 7 | (11,222) | - | (11,222) | (29,336) |
| _ | _ | _ | _ | ||
| (11,222) | - | (11,222) | (29,336) | ||
| _ | _ | _ | _ | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,953,774 | - | 1,953,774 | 1,797,507 | |
| DEDUCT: Creditors due after more than | |||||
| one year | 8 | (55,034) | - | (55,034) | (68,697) |
| __ | _ | _ | _ | ||
| NET ASSETS | 1,898,740 | - | 1,898,740 | 1,728,809 | |
| _ | _ | _ | _ |
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
| NOTES | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| RESERVES | ||||
| Brought forward | 1,728,809 | - | 1,728,809 | 1,584,307 |
| Net movement in the year | 169,931 | - | 169,931 | 144,502 |
| _ | _ | _ | _ | |
| TOTAL RESERVES CARRIED FORWARD 9 | 1,898,740 | - | 1,898,740 | 1,728,809 |
| _ | _ | _ | _ |
These accounts have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
Signed on behalf of the management committee on ……………………………………
………………………….
J WATSON
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
Basis of Accounting
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income
Trading activities income is recognised when the goods are sold and or the service is provided.
Grant income is credited in the year to which it relates with the exception of grants which were originally given to erect the Centre itself. These grants are amortised at the same rate as the Centre and will always reflect the remaining unamortized balance attributed to the Centre.
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable
Investment income is included when receivable
Resources expended
Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognized as goods or services are supplied. Other grant payments are recognized when a constructive obligation arises that result in the payment being unavoidable.
Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating office property costs by floor areas, management and human resources costs by the number of staff, and finance and IT costs by work done.
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
| 2. INCOMING RESOURCES Unrestricted Restricted Funds Funds £ £ Grant income Charitable foundations - - Other organisations 13,457 - _ _ 13,457 - _ _ Voluntary income Donations 6,550 - _ _ 6,550 - _ _ Trading operations Harbour dues 32,847 - Fish Landing dues 64,556 - Parking fee 50,554 - Management fees 15,000 - _ _ 162,957 - _ _ Rental income Rents 193,046 - _ _ 193,046 - _ _ Miscellaneous income General income 1,343 - Insurance claim 15,610 - Gift Aid 26,438 - Bank interest receivable 392 - _ _ 43,783 - |
Total 2022 £ - 13,457 _ 13,457 _ 6,550 _ 6,550 _ 32,847 64,556 50,554 15,000 _ 162,957 _ 193,046 _ 193,046 _ 1,343 15,610 26,438 392 _ 43,783 |
Total 2021 £ - 9,764 _ 9,764 _ 495 _ 495 _ 30,755 61,075 37,218 15,000 _ 144,048 _ 142,489 _ 142,489 _ 1,341 - 24,053 1,034 _ 26,428 |
|---|---|---|
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
3. RESOURCES EXPENDED
| Unrestricted Restricted Funds Funds £ £ Cost of generating funds Direct costs 15,451 - Staffing costs 107,119 - Light and heat 31,389 - Rates and water rates 2,269 - Insurances 11,009 - Postage and stationery 1,009 - Repairs and renewals 42,439 - Legal & professional fees 11,117 Sundry expenses 12,846 - Depreciation 8,625 - _ _ 243,273 - _ _ Cost of charitable activities Direct costs - - _ _ - - _ _ Governance costs Bank charges 826 - Bank interest paid 3,963 - Professional fees – Accountancy 1,800 - _ _ 6,589 - |
Total 2022 £ 15,451 107,119 31,389 2,269 11,009 1,009 42,439 11,117 12,846 8,625 _ 243,273 _ - _ - _ 826 3,965 1,800 _ 6,589 |
Total 2021 £ 2,993 81,041 23,716 1,509 16,617 832 28,771 2,145 7,536 10,981 _ 176,141 _ - _ - _ 781 - 1,800 _ 2,581 |
|---|---|---|
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
4. STAFF COSTS AND NUMBERS
During the financial year the company’s salary costs included.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Salary and pension costs | 105,869 | 79,961 |
| Trustees remuneration | 1,250 | 1,080 |
| ______ | _ | |
| 107,119 | 81,041 |
No employee received emoluments of more than £60,000 (2021: Nil)
5. FIXED ASSETS
| ETS | ||||
|---|---|---|---|---|
| Land and | Plant and | Equipment and | ||
| Buildings | Machinery | Fixtures | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1December 2021 | 1,311,218 | 72,059 | 79,662 | 1,462,939 |
| Additions in the year | 226,517 | - | 9,340 | 235,857 |
| _ | _ | _ | _ | |
| As at 30 November 2022 | 1,537,735 | 72,059 | 89,002 | 1,698,796 |
| _ | _ | _ | _ | |
| Depreciation | ||||
| As at 1December 2021 | - | 42,835 | 63,468 | 106,303 |
| Charge for the year | - | 4,384 | 4,242 | 8,626 |
| On disposal | - | - | - | - |
| _ | _ | _ | _ | |
| As at 30 November 2022 | - | 47,219 | 67,710 | 114,929 |
| _ | ______ | _ | _ | |
| Net book value | ||||
| As at 30 November 2022 | 1,537,735 | 24,840 | 21,292 | 1,583,867 |
| _ | _ | _ | _ | |
| Net book value | ||||
| As at 31 November 2021 | 1,311,218 | 29,224 | 16,194 | 1,356,636 |
| _ | _ | _ | _ |
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WARKWORTH HARBOUR COMMISSIONERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
| 6. DEBTORS Trade debtors Other debtors VAT recoverable 7. CREDITORS: Amounts falling due within one year Trade creditors, taxation and social security PAYE Accrued charges Mortgage 8. CREDITORS: Amounts falling more than one year Mortgage 9. STATEMENT OF FUNDS At 1 Dec 2021 UNRESTRICTED FUNDS General reserve 1,117,352 Designated reserve 466,955 _ TOTAL UNRESTRICED FUNDS 1,728,809 |
Income Expenditure 419,793 249,862 - - _ _ 419,793 249,862 |
_ |
2022 2021 £ £ 7,407 24,672 85,754 58,747 6,692 28,505 __ _ 99,853 111,926 _ _ - - 347 - 1,875 20,336 9,000 9,000 _ 11,222 29,336 _ 55,034 68,697 Transfer At 30 Nov. 2022 - 1,431,785 - 466,955 _ ____ - 1,898,740 |
|---|---|---|---|
| _ |
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