Company registration number: CE000323 Charity registr*ion number: I151498 The Meridian Centre Withernsea CIO (A ¢umpany limited by shore capitsl) Annual Report and liinancial Statement5 for the Year Ended 31 March 2025 The Mcridian C¢lltr¢ Witbernsea CIO Contents Reference and Administrative D¢tai15 Truslees, Report 2to4 Independent F.xamIne￿S Report Slatcment of Financial Aclivities Balance Sheet Notes to the Financial Statements 8t019 The Meridian Centre Witherllsea CIO Reference and Administrative Details Ch*trman KSLythe Trnstees V McFaul, Treasurer J MrFaul D England S Walker PMPike KSLythe D Walker L Wilson Setrtlary J McFaul Chlrlty Reglstration Number 1151498 Company Reglstr4tlon Number CE000323 Regigttred Offlc• 201 Queen Street Wilhcrnsea East Yorkyhire IIU192HH Independent Examiner Larsens Accountants Limited Bridge House 41 Wincolmlee Hull IIU2 8AG Page I The Meridian Centre Witbernsea CIO Trusleesl Report Th¢ truste¢s, who ar¢ d1￿CtorS for th¢ purposcs of company law. present the annual rcport togeth¢r with the rinancial statements and auditors, report of the charitable company for the year ended 31 MaTch 2025. Objectives 4Dd Wctivltle Objects and alms A summary of the objects of the charity as set out in its governing document To promote the benefit of ihe inhabitanls of Withernsea and South l.lolderness without distinction of sex, sexual orientation, age, disability, nationality, race or of political religious or other opinions, by ￿sOCIatIng together Ihc said inhabitants and Ihe slatutory authorities, voluniary and other organisations in a common effort lo advance education and to provide facilities in the interests of social welfare for recreation and leisure.time oGcupalion with the object ofimproving the ¢ondilions ol'lile for the said inhabilavbts. Publlc beneJl¢ In planning our activities for the year we kept in mind the Charity CommÉssions guidAnce on public bcnefil at our tru5tcc mcctin8S. The focus of our a¢tivitics remains the developmcnl of a community building fur all groups in th¢ area of Withernsea and Souih Holderness, with the provision of a programm¢ oL'¢v¢nts for everyone In the ¢ommunity. We welcome everyone to all events regordless of personal ba¢kground, faith, gender or personal ¢ir¢umstance5. The trnslees confirni th&l Ih¢y have complied with the requirements of scction 17 of Ihe Charities Act 2011 to have due regard to the public benefit guidan¢e published by the Charity Comrni5sion for England and Wales. Trn8tees and offlcers The trnstees and officers serving during the year and since the year end were ￿ lollows.. I'rustees: V M¢faul, Treasurer J M¢Faul D England S Walker {appoinied 25 September 2024) PMPike KsL￿}e D Walker (appointed 25 September 2024) L Wilson (appointed 25 September 2024) Chairman: KSLythe Se¢Rtary: J McFaul Page 2 The Meridian Centre Wlthernsea CIO Trustees, Reporl Strutthr4 govtrnance and management Nqlmre of8overnin8 document The organisation is a charilable incoryorated organisation. The organisation was eslabliyh¢d undcr a constitution which established the obje¢ts and powcrs of the charitable incorporat¢d organisation. Recrultment ond oppolnlment oltruslees The members of the charity may at any time decide lo appoint a new t￿￿tee, whether in the pla¢¢ of a charity trustee who has relired or been removed or a5 an additional trustee. TnL8tees appointed by the charity trustees will retire at ihc conclusion of the nexl annual gcncrdl mccting. Ai every annuai general meeting one third of the charity trustees shall retire from office by rotation. They WAII eligible for re-election. Fln8DtIAI Instruments Objecilvei alldptsll¢les 'rhe charity's activilics expo.8e it to a number of financial risks including crcdil risk, cath flow ri.8k and Ilquidlty risk. The use ol £inancial derivatives is governed by the ¢harity'3 policies approvcd by the board of tru8tee whi¢h provide WTitten principles on the ￿￿e of financial derivalives to manage these risks. Thc charity docs not use derivative financial instrument5 for speculative purposes. CashflfPW rlsk The charity's actLVitie8 expose it primarily io the financial risks of changes in foreign curren¢y exchange rates and interest ralcs. The charity use5 foreign exchange forward contracts and interes1 rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of¢o8h llows, Credli rlsk Thc charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity'8 crcdit risk is primarily attributable lo its trade re¢eivablcs. The amounls pre.8ented in the balance sheet are net of allowances for doubt￿1 receAvabl¢8. An allowance for impainncnl is made where there is an iden¢ified Ios5 event which, based on previous experience, is evidence ol"a r¢du¢lion in the reGoveTability of the ash tlows. The credit risk on liquid fundB and derivative financial instruments is lirnited because the ¢ounleTP4rti¢5 are banks wlth high credit-raling5 assigned by internalional credit-rating agencies. The charity has no significant concentration of credit risk. with exposure spread over a large number of counterparties and customers. Uquldlty rtsk In order to maintaÉn liquidity to ensure that sufficient funds are available for ongoing opcrntions and futurc developments, the charity uses a mixlure of long-tcrni and short-tem debt finance. Further detsils rcgarding liquidity risk can be found in the Statement of accounting poli¢ies in the financial statements. Page 3 The Meridian Centre Withernjea CIO Trustees, Report ststtmtnt of trustees, responslbllldt8 Th¢ trust¢es (who are also the directors of Th¢ Meridian Centr¢ Withernsea CIO for the Purposes of company law) are responsible for preparing ihe trustees, report and ihe financial statements in accordance with applicable law and United Kingdom Accounting Statmlards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reportin8 Siandard applicable in the UK and Republic of Ircland" Company law requires ihe Irustecs to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unle*% they are satisfied that they give a true and fair view of the state of affairs of the charitable Company and of the in¢omAng resources and application of resources, including its income and exp¢nditure, of ihe charilablc company for that pcriod. In prcparing these financial statementy, thc tnjslees are rcquircd to: select suitable a¢¢ountin8 polici¢$ and apply them consistently. observ¢ the methods and principles in the Charities SORP; make judgemcn15 and cstimate5 thal arc rcasonable and prudent; stst¢ whether applicable a¢rountin8 Standards. comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial 5tatcments; and prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the charitable company will Continue in business. The trustees are resp(Trn$ible for keeping proper ￿￿oUni1Thg records Ihal ¢an disclose with reasonable accuracy at any Ilme the financial posi1ion of the charitable company and enable them to ensure that 1he financial stat¢m¢nts comply with the Companies Act 2006. They ar¢ also responsible for safeguarding th¢ assets of the ¢haritabl¢ ¢ompany and hence for tsklng re8sonable steps for ihe prevention and detection of fraud and other irregularitie8. The twstees are re8pon5ibl¢ for the mainlenance and int¢grity of the ¢orporate and financial information included on ihe charitable company's website. Legislation governing the preparation and di55eminalion of financial statements may difftr from legislation in other jurisdictions. The annual report was approvcd by the trustees of the charity on d signed on its bchdlf by.. JJ>l J McFaul Company secretary and trustee Page 4 The Meridian Centre WitherDsea CIO Independent Examiner's Report to the trnstees of The Meridlan Centre Withernsea CIO ('the Company,) I rcport to the rharity trustees on my ¢xaminalion ofihc acrounts of the Lompmy for the year ended 31 March 2025. Re$ponslbllitles #nd b4Jis of report As the charily's truslees of th¢ Company (and also 11$ directors for the purp05cs of company law) you are responsibl¢ for the preparation of the a¢rvunt5 in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having sat15fied myself Ihat the accounts of ihe Company are not required to be audited undcr Part 16 of the 2006 Act and are eligiblc for independent examination, I rcport in respect of my examination of your charlty's accounls &8 carried out under Section 145 of ihe Charities Act 2011 ('the 2011 Act,). In caTrying out my ¢xaminGiliun I have followed th¢ Directions given by the Charity Commission under section 145{5)(b) ol Ihc 2011 Acl. Independent ex#mlner's stAtement I have complded my examination. I confirni that no matters havc come to my attention in ¢onn¢clion wilh the examination giving me Cause to believc: a¢¢ounling records were not kepl in rcspect of The Meridian Cenlre Withernsca CIO As required by section 386 of the 2006 Act; i)r 2. th¢ accounts do not a¢¢ord with ih08e r￿ords,. or 3. the ac¢ounts do not comply with the a¢couniin¥ rcquirements of section 396 of ihL 2006 Acl other than any requirement that the accounts give a 'true and fair view which is noi a matter considered as part of an independent examination,, or 4. the a¢¢oun15 have not been prepared in aciordancc with the method5 and principles of the Statement of Recommended PraLtice for accounting and reporting by Charities lapplicable to ¢haritLC5 prcparing their accounts in accordtmce with the financlal Reporting Standard applicable in the UK and Republic of Ireland (TrRS 102)1. I have no concerns and have come &cross no othcr matters in Connection with the examin&tion to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Bridge House 41 Wincolmle¢ Hull HU2 8AG Page 5 Th¢ Meridian Celltre Withernsea CIO Statement of Financial Aclivities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains And Losses) UDrestrlcted funds Totsl 2025 Note Intomt and EDdowm¢nt$ from: Donations and Icgacics Charilablc activilics Invc5tmcnt income 5.857 14.983 38 5.857 14,983 38 Total income 20.878 20,878 Expendlture on: Charitabl¥ aGliviti¢s 23,011) 23,011) Total expcnditurc Net ¢xpenditure 23,011 23,011 133 Nct movemenl in funds (2.133) (1133) Reeonclllatlon of funds Total funds brought forward Total funds ca￿led forward 46,384 46,384 17 44,251 Tol•l 2024 UDre5trlct¢d funds Note Income and Endowments from: Donations and legaci¢$ Charitsble aclivilies 6,083 15,613 6,083 15,613 Total income 21,696 Expellditure on: Charilable activtties 24,835 24,835 Total expenditurc (24,835 24,835) Net expenditure (3.139) {3,139) Net movement in fund5 (3,139) {3,139) Reeonclliatlon offunds I'otal funds brought forward 49,523 49,523 Tothl funds ¢arried fonvard 17 46,384 46,384 All of the charity's activities derive from ¢ontAnuing operntions during the &bove two periods. Th¢ fjjnds breakdow] for 2024 is Showm in note 17. The notes on pages 8 to 19 forni an integral part of thesc financial statements. Pag¢ 6 The M¢ridian Centre With¢rnsea CIO (RegAStration number: CE1100323) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed #x$tts Tangible 45scts Investments 12 13 5.570 loo 8,559 loo 5,670 8,659 Current AJJ¢ts Debtors Cosh at bank and in hand 14 15 7,112 34,288 5,785 35,207 41,400 40,992 Credltors: Amounts fal]Ing dut Ivlthln ODe year Ntt eurrenl •ssets 16 2,819 3.267 38,581 Net 44,251 46.384 Fundi of the cbarlty: Unr￿triCted In¢ome fun Unrestricted fijnds Total fundi 17 The financial statements on pa8e$ 6 to 19 were approveij by the trustees, and authorised for issuc on %4and signed on IhLir behalf by. V McFaul Trustee The notes on pages 8 to 19 forni an integral part of these financial statements. Page 7 The M¢rldlan Centre Withernsea CIO Notes to the Finaneial Statements for the Yegr Ended 31 March 2025 I Chirtty status The charity is limited by share capital, incoryorated In . The address of its registered office ts: 201 Queen Stre¢t wIthen￿e￿ East Yorkshire HU19 2HH 2 Attountlng pollel Sllmmxry of ilgnlllegnt Attollndni polltlei Aod key aeCOUDtIDg tjtlmat The principal accounting policies applied in the preparalion of these financial statements ar¢ set oui b¢low. These policies have been consistently applied to all the years presented, unless othenvise stated. Stwtement of tompuin The financial statements have been prep￿ed in accordance with Ac¢ounting and Reporting by ChaTitiC3: Stsiement of Recommended Practice (applicable to Charltles preparing their accounts in Accordance with the Finan¢ial Reporting Standord appli¢abl¢ in th¢ UK and Republic of Ireland (FRS 102)) (issued in O¢tob¢r 2019) - {Charltle8 SORP (FRS 102)), the Flnan¢lal Reporting Standard applicable in the UK and Republic of IRland (FRS 102) and the Companies Act 2006. B￿11 of preparatlon The Meridian Centre Withernsea CIO meets the definition of a public benefit entity under FRS 102. A58ets and liabilities 8re initially recognised at historical wst or traw#ctlon value unless otheThvls¢ stated in th¢ relevant accountln8 poliey notes. Golnz ¢on¢erM The Iruslees consider thal there are no m&teTial uncatsinties abou¢ th¢ ¢harity's ability to cOntiM￿ aj a going concern nor any Significant areas of uncertainty that affert the carryln8 value of assets held by the charily. Ineorne and endowment8 All in¢om¢ is recognlsed once the charity has entitlement to the income. it i8 probable that the in¢ome will received and the amount of the income receivable can be measured reliably. DonailoHs lezaeles Donations are recognised when the ¢harAty has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforni8nce by the charity before the ¢harity is entitled to the fimds, Ihe income is deferred and nol reco8nised unlil either those conditions are fully met, or the fuifibnent of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Page 8 The Meridian Centre WitherDsea CIO Notes to the Financial Slatenlents for the Year Ended 31 March 2025 GrAnts recelvoble Grants are recognised when the charity has an entitlemenl to ih¢ funds and any conditions linked to the grants have been met. Where perforn)ance cunditions are attached to the grant and are yct to be met. the income is reCogni￿d as a liability and included on thc balance Sheet as deferred incom¢ tu be released. InwexÉMenl Income Dividends are re¢ognised once the dividend has been d¢¢larcd and notification has been received of the dividend Expendlture All expenditure is re¢ognised once thcrc is a legal or constructive obligation to that expenditure. it ts probable setil¢m¢nl is required and the amount can be measured reliably. All ¢05ts are allocated to the applieable expendilure heading that aggregate similar costs to th￿ category. Where costs cannot bc dircctly aitributed to partieular h¢￿ingS they have been allocaled on a bosis consistent with the use of rcsourccs, with central stsff ¢ost5 allocalcd on Ihe basis of time spenl. and dcpreciaiion chargcs allocaled on tho portion of the asset's use. Other support custs are allocated based on the spread of staff Costs. Chorlthble ocilvldes Charitable expendi￿re comprises Ihvsc Costs incurred by the charily in the dclivcry of its activities and services ror its bcneficiaries. It in¢lud¢s both coyts that can be a]located dir¢¢ily to such &ctlvities and iho5e costs of an indire¢¢ nalurc ncccssary to support them. Support Costs Support costs include central functions and have bccn allocated to activity ¢08t calegories on a basis consisteni with the use of rcsources, for example. alloGalin¥ property costs by floor areas, or per capila, slaff costs by the time spenl and oih¢r ¢osts by their usage. Gov¢rn*D¢t eosts These Include the cosls attributable to the ¢harity's cornplianc¢ with constitutional and sta￿tOry requircments, including audit, strategic management and trustses meetings and reimbursed expenses. T4xAtlon The chv4rity is Considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Acl 2010 and therefore it meets the definition of a charitable company for UK colporation tax putposes. A¢¢ordingly, the charity is potentially exempt from t￿atIOn in respect of income or cppital gains received within categories covcrcd by Chapter 3 Part I l of the Corporation Tax Act 2010 or Seclion 256 of the T&xation of Chargeable Gains Act 1992, to the extent that such income or gains are appli¢d exclusively to charitable putposes. TAnglblt r￿ed Assets Individu41 fixed assets costing £0.00 or more arc initially Kcorded at cost, less any 5ubsequ¢nt accumulated depreciation and sub5cquent ac¢umulated impairn)ent losse& D¢preci•tioD And Y4morti5ation Dep￿latIOn is providcd on tangible fixed assets 50 as to write off the c05t or valuation, less any ¢slimat residual value, ov¢r theiT expected useful economic life as follows: Asset class Fixtures and fittings Depretlatlon method and rat¢ 10 years straight line Page 9 The Merldlan Centre Wlthernsea CIO Notes to the Financial Statements for tbe Year Ended 31 March 2025 Computer software and equipment 3 years straight line Buslness eomblnadons Business combinations are accounted for under the purchase metho 1,057 5,958 75 50 5,857 6,083 Chdrltsble actMIlt$ Othcr incomc Primary purpose trading 46 14,937 15.6]3 14,983 15,613 Invtsthient Income Inierest on cash deposits 38 38 ChArltsble acllvllles Cost of licences Rent Rates, water and service charges l.ight and heat Insurance Premi8e8 repairs and renewals Telephon¢ and fax Printin& postage and stationery Subscriptions Sundry expense5 Cl¢anin8 Accountancy Other interest payable D¢preciatian of assets used for charitable purposes Salaries Independent examinews fee Depreciation of assets used for governan¢e (44) (35) (i) (1,585) (2,665) {823) (3,734) (806) (188) (325) (80) (1,940) (163) (1,676) (3,628) {389) {2,133) (953) (129) (50) {40) {1,564) (163) (4) (1,204} (8,350) (660) 2,024 (1,204) (8,632} (660) (1,994) (23,011 (24,835) This page does not ft)nn part of the statutory financial stsiements. 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