COMPANY REGISTRATION NUMBER 08555227 REGISTERED CHARITY NUMBER 1152861 bELLJ PRIMROSE COMMUNITY ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 31ST MARCH 2024 BELL TINDLE WILLIAMSON LLP Chartered Accountants & Registered Auditors The Old Post otyice 63 Saville Street North Shields TJTr¢ and Wear NE30 IAY
PIUMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE YEAR ENDED 31ST MARCH 2024 coiYrEiYfs PAGE Report of the Trustees i- io Independent Examiners, Report to the Trustees Statement of Financial Activities 12 Balance Sbeet 13 Notes to the Financial Statements 14-22
Page I PIUMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31ST MARCH 2024 The tSte¢S are pleased to present their annual directors, report together with the fmancial statements of the charity for the year ending 3 1st March 2024 which are also prepared to meet the requirements for a directors report and financial Stateellts for Companies Act putposes. The funCIal statements comply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association, and the charities Statement of Recommended Praclice (applicable to charities preparing their financial sthiemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. FRS 102) issued in October 2019. Our Pur oses and ActiTrities Purpose The objects of the charity are specifically $trIcted to the following: (l) To pmmote the benefit of the inhabitants of the Borough of South Tjneside and the neighbourbood without disiinction of sex or political, religious or other opinions by associating the local authoritie5, volunlary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for creatiOn and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. (2) To establish or to secure the establishment of a community centre and to maintain and manage, or to co- operate with the South T¢Side MetropolÈtan Borough Council in the maintenance and n]anagement of such a centre for activities promoted by the Association and its constituent bodies in furtherance of tbe above objectives. (3) The Association shall have power to affdiate to other organisations with similar charitable objects and shall be non-party in politics and non-sectsrian in religion. In pursuance of these objectives the trnstees shall be responsible for the management of the community centre and administration of the Community Asso¢iaiion in accordance with the provision of its Articles of Association. Vision Siatemenl Primrose Community Association serves the Deeds of the local conununity, takes up stewardship on their behalf and confidently and ¢ompeiently keeps pace with the changes in our society. How We Mei Our Charilable Objeclives Charity trustees have a duty of public benefit and this is demonstrated at Primrose Community Association through the management of the community centre delivering a programme of activities which meet the needs of the local comn]unity. The board of irustees have a strong pedigree of integrity, an ability to balance the books, in maintaining solvency and in euring the efficiency of the charity. The first priority of the trustees is to support the ¢l]aritable objectives of Primrose Community Association. In doing so we regularly check lo make sure that Primrose Community Association complies with Charity LAW, that no breaches occur in any of the requirements set out in our governing document and that we remain true to our charitable Purposes and objects. The trustees fully recognise their legal responsibility for the affairs of the charity and uphold their explicit duty to scrntinise key issues and decisions. take independent advice and report as necessary.
Page 2 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Ensuring Our Work Delivers Our Aims The trustees review our aims, objectives and activities each year consider what has been achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits that they have brought to those groups of people we are sei up io help. The review also helps us to ensure that our ain]s. objectives and activiiies have remained focused on our stated purposes. The trustees have referred to guidance contained in the Charitys Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular. the trustees consider how planned activities will contribute to the aims and objectives they have seL The Foeus of Our Work The purposes and objects of the charity are noted above. The main focus of our work is.. Offering membership of the Association at a reasonable price to enable the local community to access tbe facilities on offer. The management of a welcoming and safe community centre that meets the needs of the local community. The provision of regular aciivities groups for the local community which PToInote health and well-being. Currently thts includes a toddler and baby group, squash, inth)or bowls, sci fi, XYW. music and crafts. The provision of rooms for hire by activity groups cutrently Bede of JaOW U3A, Dancetastic Children's Dance School. Jarrow Model Railway Club, Yog4 Keep Fit. Karate and Jujitsu classes. and Weightwatchers. Facilities for family functions: parties, celebrations. and funerals. Meeting rooms for Irdining courses, group meeting and functions. Providing a coffee bar and other facilities to encourage social integration with the aim of avoiding isolation and loneliness. Facilities for the local community, family functions. funerals and celebrations including a licenced Lounge Bar. mauaged by our subsidiary. Primrose Community Enterprises Ltd. Hoiv Our Activities Deliver Public Benefit The trustees remain fully focused on providing a Community hub for social collaboration, inclusion and well being. ensuring our work reflects our membership profile. supporting children and young people. delivering adult education- facilitating sports and leisure activities and tackling health inequalities. All these activities are undertaken to further our charitable purposes for the public benefit. Who Used and Benefirtedfroffi Our Services7 Membership is open lo anyone tn the community. Members of our user groups tsking part in interest, social and sporting activities. Users of the activity groups hiring our facilities. Local residents attending family and social events. Attendees of meeiings and training courses using our facilities.
Page 3 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Achievements and Performance Prin]rose Comtnunity Association h&s undertaken the management and maintenance of the Community Centre. Membership of the Association was 232 at the end of the financial year, an increase of 54 members. The Association had 9 activity sections during the year.. craft. indoor bowls, music, sci-fi, squash, toddlers, XYW. and 2 new groups" camera club, and sewing bee. Sadly the indoor bowls section closed part way through the year. Attendance at our activity sections increased through the year with an average of 500 attendances a week Squash is the largest section with around 100 members enjoying their high quality courts. There are internal leagues and 4 teams play in the Northumbria Squash League. The men's f$£ and second team play in league one, with a third team in league two. The Ladies play in the Ladies League. The toddler group attrdcts around 20 children with parentslcarers per session enjoying crafts and fijn activities. There were two teddy bear picnics funded by the Jarrow Festival and two Christmas parties with Santa. During the year the number of groups that weekly hire the facilities for their activities have increased. Karate and Jujilsu both teach martial arts skills to both adults and young people and hold regular gradings. Meditation introduces mentsl and physical teclmiques to focus and clear the mind. Dancetaslic Dance School develops dance and perforniance skills in young people, holding regular examinations and an annual show. Guide Dogs work to support visually impaired children and their families to develop life Age Concern Tyneside South (Acts) support individuals and families with benefit and other issues. Slimming 4 All supports people to improve their diet and loose weight. Jarrow Model Railway Club have adult and junior members enjoying their interest and hold two exhibitions. Yoga introduces and practices physical. mental and spiritual skills to improve overall health. Pilales introduces and practices exercises that improve muscle tone. Bede of Jarrow U3A hold their monthly meetings. coffee mornings, art group, drama group and social events in the cenlre. The centre has also been hired by an increasing number of organisations to host their training, conferences. and activities. Duke of Edinburgh Award Scheme. Tyne River TrusL Castleview. hearing frsts for veterans regularly hire the centre. During the year the bowling green was changed to a fitness and exercise Gym renting the space to Fomidable Personal Training which delivers fitness activities to groups and individuals, including diversionary activities for young people for the youth service and Valley View School.
Page 4 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Achievemellts and Perforjnanee (continmed) The traditional Christmas Switch On and Christmas FayTe was held in late November and was well supported by Centre users, Valley View School and families from the Primrose Estate. The school choir enlertained with CkLristmas Carols. The Association organised afiernoon teas, Halloween and Christmas lunch and parties for users and local residents. The Association successfully applied for grants from Jam)w Festival Committee and Chuter Ede CA, using the funds to deliver activittes and carry out some building improvements. The cenire is a popular venue for family celebraiions with 168 family functions taking place during the year. The trustees continued to engaged with South Tyneside Council to resolve the outstanding issues relaled to the lease of the premises. A solicitor has been engaged to 1St with the legal aspects of this issue. PrinLrose Community Association is blessed wkth 8 regular volunteers who support our weekly activities and events. Without their commitment to the centr¢ it would not function. Financial Revieiv The charity with the aid of sound financial managemenL reports an unrestricted deficit of £28,336 for the year to 3 1st March 2024. This includes £14.000 donated by Prinwose Community Enterprises Ltd. Our subsidiary, Primrose Community Enterprises Ltd, reports a loss of £6.067 for the year to 31 st March 2024, after accounting for its £14,000 donation to the knfjociation. Principal Fundirtg Sourcés The funding of the charity comes from a rdnge of sources and the principal funding sources are as follows: Association Membership fees. Income from the Association'5 sections. In the current and prior year the squash group contributed the most income from activity groups. Income from the hire of facilities by local activity groups and training providers. Income from the coffee bar. External grants and donations. A donation from Primrose Community Enterprises Ltd. Cosi Analysif Staff salaries, heating and lighting, and cleaning & refi costs are the largest expenditure of the Charity. Gas, eleetrieily and water charges are direct costs lo the charity through contracts with Dr&K. Avanti and Wave. Business rates are subject to the 800/0 mandatory reduction for charities. Inveslmeni Powers and Policy Under the Articles of Association. the charity has the power to invest funds in the same manner and subje¢l to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.
Page 5 PIUMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Reserves Policy and Going Concern The charity regularly assesses and reviews its reserves policy in line with fmancial performance, risk and the external environment. It is good practice for a Charity to reserve funds for future planned activity and contingencies These are designated as follows.. Restricted Funds Section funds Unreslricled Funds Staffmg and redundancy fund. Equipmenl replacement contingency fLmd. Six months running costs of the Association. Limited liability contingency fund. Specific grants and donations The amount of reserved funds is included in each month's managetneni accounts and is reviewed regularly to ensure that the charity can meet its fJnan¢ial commitments. Plans for Future Periods The Trustees will seek to fmalise negotiations with South Tyneside Council in relation to the lease of the con]munity centre, which will complete the asset transfer. A survey of the premises will be undertaken to ensure that any major building issues are identified and assurances sought to ensure the Association is not at risk. A solicitor is engaged to act on behalf of the Charity. The Trusiees will work with Council Officers towards a satisfactory resolution of outstanding issues. The trustees are aware that the projected expendtbjre is greater Il)an the current income. The prices will be reviewed against the local market of community facilities. Budgets and cash flows will be closely monitored to ensure the Association can meet its financial responsibilities. The trustees will bring the cleaning in house to reduce costs and improve the cleanliness of the centre. The trustees will seek grants to develop new activities and keep the centre in good repair. The Association's website will be redesigned to promote the centre and it's activities. The trustees will investigate introducing Holiday Activities and Food activities into the centre in school holidays. A programme of soctal events will be developed and advertised to celebrate traditional festivals which bring together members. users and the local community. Primrose Community Association will continue to connect people to the services they need across healtty economy and social programmes making the best use of partnerships between Statory, voluntary, faith and business conununities. The trustees will work with officers of the council to redesign the layout of the shared car park.
Page 6 PRIMROSE COMMUNITY ASSOCIATION A COTrIPAIYY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Referenee and Administrative Details Charity Name." Primrose Community Association Charity Registration Number.. 1152861 Company Registralion Number." 08555227 Registered Office & Operational Address.. Lambton Terrace Jarrow Tyne and Wear NE32 5QY Bankers: Barclays Bank pl¢ 64 - 66 King Street South Shields Te and Wear NE33 IHZ Independent Examiner.. E. J. Hartshorne-Ferguson BA FCA Bell Tindle Williamson LLP The Old Post Office 63 Saville Streel North Shields NE30 IAY Association Treasurer." S. P. Chilton Directors and Trustees The directors of the charitable company (the charity) are ils trustees for the purpose of charity law. The trustees who served during the year and since Ihe year end were as follows: Key management personnel PrInOSe Community Association: Trustees, and Directors Elected Trustees." P. J. Milburn R.W. Lydon S. P. Chilton H. Sprouting A. J. Young C. Goss V. A. Mccaffery T. Orr D. Kennedy (Cbair) (Chair) (Treasurer) (Resigned 12. 12.24) (Appointed J2.12.24) (Resigned 01.10.23) (Resigned 20.06.23) Structure Governance and Mana ement Governing Documen¢ Primrose Community Association i¥ a registered charity (registered number 1152861) and a company limited by guarantee established and governed under its Articles of Association dated 4th June 2013 which slates the objects and powers of the charitable company.
Page 7 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Structure Governance and Trlana ement (conlinued) Governing Documenl The trustees confm that if the charity is wound up whilst they are a lntee or rf it is wound up within one year of them ceasing to be a trustee, they would be required to contribute an amounL not exceeding £1, towards the payment of the debts and liabilities of the charity. Appoin¢ment of Truylees Trustees are recrnited to meet specific needs in the Organisation for specialist expertise, business skills and professional standing within relevant fields. Without prejudice, to any provision in the Articles of Association, the trustees holding office at any time may include the lollowing.. (l ) One person nominated by each of the Sections recognised by the trustees: {2) Up to four people elected by and from the membership {or prior to) the Amiual General Meeting. (3) Up to two people nominated by Valley View Primary School. and {4) Up to three people co-opted by the trustees for the skills or experience they will bring to running the A&sociation. Under the requirements of the Articles of Associatioo the tnteeS shall from time to time deterniine procedures for the election of Iruslees. which may include elections held at the Annual General Meeting, or a postal ballot of the members conducted prior to the Amiual General Meeting, or any other method considered to be effective and democratic. Elected tNslees shall lake olrice at the conclusion of that meeting and shall serve until the conclusion of the next Annual General Meeting. A retiring trustee shall be eltgible to be re-elecied. All of the tSteeS give their time voluntarily and receive no benefits from the charity. Trusteé Selection The tntees, who served the charity during the year are detailed on page 6. Eleven trusiees served the charity during the year. Should the charity wish to appoint further trustees, it would do so using the criterion noted above. Truslee Induetioft and Training New trnstees are likely to know the background of the work thai the charity does before joining the board but wtll still attend a series of short training sessions lo fully learn about the clwity. The main documents which set out the operational framework of the charity, including the Articles of Association will be discussed with any new trustees. New trustees will also be briefed on the current fmancial position of the charity with the aid of the most recent set of financial statements. Finally, the CUTrenl resources, grant funding and other revenue streams will be discussed with new tteeS as well as the futyre plans of the charity.
Page 8 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Trustee Induclion and Training {conliuHed) L tnAslees are familiar with the practical WO of the charity and have also been encouraged to Consult the various Charity Commission publications signposted through the Cotrunission's guide "The EssenlÉal Tntee, and the information sheets provided on the con1milon'S website. In the forthcoming year, the current trnstees will seek to ensure appropriate training is provided for them and that proposals are brought forward to enhance the potential pool of ttees. Organisalion The board of tnjstees administer the charity and set the strategic direction. On an annual basis they agree the stralegy and set the objectives which are incoTporated into the straiegic plan. They meet bi-monthly to receive an update from the treasurer and agree actions lo move the business plan forward. The trustees oversee governance of the charity. Primrose Community Association is led by the chair and officers of a board of trustees and executive tntee8 have been granted a range of delegated authorities by the trustees in order to nm the organisation efficiently. Rela¢ed Parlies Primrose Community Enterprises Ltd is a wholly ovmed subsidiary of the Association. During the year surplus fimds amounting to £14,000 (2023.. £8,000) were donated to the Association. In addition, £998 (2023: £944) of insurance costs, borne by Primrose Community A&sociation have been recharged to PrinoSe Community Entetprises Ltd. £6,998 (2023.. £8,944) was outstanding at the year end and is included within debtors. H. Sprouting, who is a director and trustee of Primrose Community Association, is also a director of Primrose Con)munily Enterprises Ltd. Pay Polieyfor Senior Staff The board of directors, who are the charity's trustees, give of their time freely and no director received remuneration in the year. Primrose Community Associaiion employs a Centre Co-ordinator in a senior position. The pay of senior staff is reviewed annually. Senior staff salaries are considered in line with the organisation's size, the complexity of the roles and the responsibilities that the sthff carry. When recruiting to new senior management roles, salaries are benctllnarked against similar roles and responsibilities and we also consider the market and availability of skills in setting salaries. Risk Management The trustees have conducted a review of the major risks to which the cl]arity AS exposed. As part of the risk management process, the trustees have implemented a risk managetnent stralegy which comprises.. (l ) An annual review of the risks that the charity may face: (2) Detailed action plans to mitigate those risks ideniifjed. and (3) Implementation procedures designed to mtnirnse any potential impaci on the charity should any of these risks materialise.
Page 9 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Risk Management (continued) The biggest risk the charity currently faces is the potential impact of the cost of living Crisis with the potenlial reduction in usage and therefore income to the Association, the significant rise in the minimum wage, utilittes, and purchases essential to the running of the centre. The trustees will regularly monitor the impact on its budgets and the cash flow, seeking to reduce expenditure wherever possible and develop new activities and user groups. They will also seek ndS through appropriate grants for Core costs and development of new activities and replacement of equipment and furni'ture. Corporate Governance Internal controls over all forn of commitment and expenditure continue to be refined to improve efficiency. Processes are in place to ensure that performance is monitored and that appropriate managemeni infonnation is prepared and reviewed regularly by the trustees. Trustees, Res onsibitities in Relation to the Financial Statements The charity trustees (who are also the directors of Primrose Community Association for the purposes of company law) are responsible for preparing a tnlets, annual report and fmancial statements in accordance with appli¢able law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Irustees to prepare financial stalements for each year which give a tNe and fair view of the state of affairs of the ¢harÈiable company and of the incoming SOurceS and application of resources, including the income and expenditure for that period. In preparing the fllwicial statements. the tnteeS are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and pNdenL state whether applicable UK Accounting Standards have been followed, subject to any material departures di5¢1osed and explained in the financial statements. prepare the financial sthtements on the going concem basis unless it is inappropriate to presume that the charity will Continue in business. The trustees are responsible for keeping proper accounting records whicb dis¢lose viith reasonable accuracy at any lime the fmaneial position of the charity and to enable them to ensure that the fmancial statements comply witb the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking ieasonable steps for the prevention and detection of fraud and other irregularities. The trnslees are responsible for the maintenance and integrity of the cotporate and fmancial infonnation included on the charitable compangs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from Eegislation in other jurisdictions.
Page 10 PIUMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Stalement as lo disclosure lo our independenl mInerS In so far as the trustees are aware at the time of approving our ttees, annual report.. there 15 no relevant inforniatioo being infornialion needed by the independent examiner in connection with preparing their report, of which the company's independent examiner is unaware. and the trustees, havtng made enquiries of fellow directors that they ought to have individually taken. have each taken all the steps that helshe is obliged to take as a director in order lo make themselves aware of any relevant infom]alion and lo establish that the charity's independent examiner is aware of that information. Inde endent Examiner E. J. Hartshorne-Ferguson BA FCA of Bell Tindle Williamson LLP will continue in office as independent examiner for the ensuing year. This report was approved by the InteeS on 12th December 2024 and signed on their bebalf by.. S. P. CHILTON TrnsteelDirector
Pagell PRIMROSE COMMUNITY ASSOCIATION A COMPAIYY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PIUMROSE COMMUNITY ASSOCIATION FOR THE YEAR ENDED 31ST MARCH 2024 I report on tbe fllwicial statements of the charity for the year ended 31 March 2024. whicb are set out on pages 12 to 22. RESPECTIVE RESPONSIBILITIES OF TRbSTEES AND ELITrIINER The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial siatements. The ¢haritgs trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 201 l Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examinatio it is my responsibility to: examine the fanCIal statements under section 145 of the 2011 Act. follow the procedures laid down in the General Directions given by tbe Clwity Commission under section 145(5){b) of the 201 l ACL and state whether particular matters have come to my attention. BASIS OF llYDEPENDENT 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 flllancial staternents presented with those records. It also includes consideration of any unusual items or disclosures in the fllwicial statements. and the seeking of explanations from you. as Tnlee$, concerning any such matters. The procedures undertaken do not provide all of the evidence that would be required in an audit and, consequently, no opinion is given as to whetber the fmancial statements present a 'true and fair view. and the report is limited to those matters set out in the slatement below. INDEPENDENT EXAMINER'S STATEMENT In comiection with my examination. no matter has come to my attention: which gives me reasonable cause to believe that. in any material respect. the requirements.. {a) to keep accounting records in accordance with section 386 of the Companies Acl 2006, and (b) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006. (c) to prepare fmancial statements in accordance with the methods and principles of the Statement of Recommended Pra¢ti¢e for a¢counling and reporting by charities. have not been met. or to whic14 in my opinion, attention should be drawn in order io enable a pioper understanding of the fmancial statements to be reached. Bell Tindle Williamson LLP Chartered Accountants The Old Post Office 63 Saville Street North Shields Tyne & Wear NE30 IAY E. J. Hartshorne-Ferguson BA FCA Independent Examiner CFtARTERED ACCOUNTANTS AND REGISTERED AUDITORS 12th December 2024
Page 12 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE STATEIENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted Funds Restricted Funds 2024 2023 Note INCOME: Donations and Legacies 15.750 1.500 17,250 23,960 Income from Charitable Activities 63.806 5.084 68.890 61,895 Investment Income Interest on Cash Deposits 721 721 91 Ineomefrom Other Trading Activities Coffee Bar 35.490 35,490 29.942 Sundry Income 268 268 371 TOTAL INCOIMING RESOURCES 116.035 6.584 122,619 116,259 EXPENDITURE: Costs of Raising Funds Cost of Goods Sold and Other Costs 14.464 14,464 11.006 Expenditure on Charitable Activities 129.907 11.781 141,688 105,963 TOTAL RESOURCES EXPENDED 144,371 11,781 156,152 116.969 NET MOVEMENT IN FUNDS (28.336) {5,197) (33,533) (710) RECONCILIATION OF FUNDS Total Funds Brought Fon¥ard 85,267 14,903 100,170 100.880 TOT AL FUNDS CARRIED FORIVARD 56,931 9,706 66,637 100,170 The Statement of Financial Activities includes all gains and losses in the year and therefore a statemeni of iotal recognised gains and losses has not been prepared. All incoming resources and resources expended derive from continuing activities The noles onpqges 14 to 22form part ofthesefinancial s¢atemen¢&
Page 13 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31ST MARCH 2024 Note 2024 2023 FIXED ASSETS Tangible assets 13 7.237 12,986 CURREINT ASSETS Stocks Debtors Cash at BaTLk and in Hand 14 15 397 6.998 72,985 198 9.294 87.199 TOTAL CURRENT ASSETS 80,380 96,691 CREDITORS - AMOUNTS DUE WITHIN ONE YEAR 16 20,980 9.507 NET CURRENT ASSETS 59,400 87,184 TOTAL ASSETS LESS CURRENT LIABILITIES 66,637 100,170 FUNDS OF THE CHARITY Unrestricted Funds Restricted Funds - Other Restricted Funds - Section Accounts 17 17 17 56.931 85,267 5,000 9,903 9,706 TOTAL CHARITY FUNDS 66,637 100,170 These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland,. For the year ending 31 sl March 2024 the company was entitled io exemption fron] audit under section 477 of the Companies Act 2006 relating to Srnall COTnpanies. Directors, responsibilities- The members have not required the charitable company to obtain an audit of its fmancial 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 fmancial statements were approved by the board of directots and authorised for issue oll 12th December 2024 and are signed on their behalf by.. S. P. CHILTON TrusteelDirector Registration Nurnber.. 08555227 The noles on pages 14 to 22form part of thesefinancial stoteménts.
Page 14 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES The principal accounting policies adopte(L judgements and key sources of eStIntIon uncertainty in the preparation of the financial stalements are as follows: a) Basis of Pre aration The flllancial statements have been prepared under the historical cost convention, and in accordance with the Charities- Statement of Recommended Practice (applicable to charities Preparing their accounts in accordance with the Ftnancial Reporting Sthndard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Primrose Community Association meets the defmilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised ai historical cost or transaction value unless otherwise stated in the relevant accounting policy note. aration of the Financial Statements oll a Coin Concern Basis The tnteeS consider that there are no material uncertainties about the Charitys ability to continue as a going concern. There are no significant judgements or key sources of estinMtton uncertainty that affect the fmancial statements. c) Cash Floiv Statement The tnistees have taken advantage of the exemption from including a cash flow statement in the fmancial ststemenls on the grounds that the clwity is small. d) Income All tncome is recognised once the cllarity has entitlement to the income. it is probable that the income will be received and the amounl of incollse receivable can be measured reliably. The following specific policies are applied to particular categories of income.. Donations and grants are recognÉsed when the charity has been notified in writing of both the amount and settleTneni date. In the event that a donation is subject to conditions that require a level of perfonnance before tbe charity is entitled to the funds, the income is deferred and not r¢cognised until either those conditions are fi]Ily met, or the lfIlment of those conditions is wholly within the Control of the charity and it is probable that those conditions will be lfilled in the reporting period. Income from aclivity groups is recognised when monies are receivable for taking part in the relevant activity. Income from charitable fundraising events is recognised when it becomes receivable. Income from trading activilies is recognised when goods are sold. Sundry income is included when receivable.
Page 15 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES (colllinued) e) Fund Accountin Unrestricted funds COTnprise those fimds which the tfttees are frec to use for any purpose in furtherance of the charitable objects. UnrestrRcted fidS include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. Restricted funds comprise donatio$ which the donor has specified are to be solely used for parttcular areas of the chariws work or for special projects being undertaken by the charity, and designated Section funds. enditure and Irreeoverable VAT Expendithre 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 reliably. Expenditure is Classified under the following activity headings.. Costs of raising fimds comprise the costs of commercial trading including the coffee bar. Expenditure on charÈtable activities includes the costs of perfornwices, events and other activities undertaken to fiuther the puryses of the charity and their associated support costs. Governance costs include those costs &ssociated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity. Irrecoverable VAT is Charged as a cost against the activity for which the expenditure was incurred. ort Costs Support costs are those fimctions that assist in the work of the charity but do not directly undertake Charitable activities. Support costs include office costs, flllance. payroll and governance costs which support the charitys activities. These costs have been included within expenditure on charitable activities. ible Fixed Assets Tangible fLKed assets are staled at cost less depreciation. Depreciation is calculated to write off the cost of fixed asseis over the expected useful lives of the assets ¢oncemed. The principal annual rates for this puq)ose. which are consistent with those of the previous year, are:_ Asset Category Annual Rate Equiplnent Coffee Bar io% i) Stock Stock is included at the lower of cost and net realisable value.
Page 16 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES (coniillued) j) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. k) Cash at Bank and ill Hand Cash at bank and in hand comprises petty cash and funds held in the charity PayPal a¢¢ouni, bank current and deposit accounts. l) Creditors and Provisions Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the trallsfer of fLmds to a third party and the allUllt due to settle the obligation can be measured or estimated reliably. Creditors are nornially COgniSed at their settlement amount after allowing for any trade discounts due. m) Financial Instruments The charity only has fancial assets and fmancial liabilities of a kind that qualify as basic fmancial instruments. Basic financial instnllnents are inittally recognised at transaction value and subsequently measured al their settlement value. LEGAL STATUS Prin]rose Community Association is a company limited by guarantee and as such has no share capital. In the event of the charitable company being wound up. the members would be required to contribute an amount not exceeding £1.
Page 17 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATETrIENTS FOR THE YEAR ENDED 31ST MARCH 2024 DONATIONS AND LEGACIES Unrestricted Restricted 2024 2023 Grants South Tyneside Council National Lottery Chuter Ede Community Association Jarrow Festival Comrnittee 5,000 10.000 750 750 1,500 1,500 650 Donations Primrose Community EnteTprises Ltd General 14,000 1,000 14,000 1,000 8,000 310 15,750 1,500 17.250 23,960 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted 2024 2023 Events Facilities Section Receipts Activity Groups Membership Indoor Bowls U3A Bowls Squash Toddlers xyw Aloria S¢i-Fi Music Camera Club SewÈng Bee Craft Class 1.820 36,389 1.820 36.389 5,084 863 28,607 3.097 5.084 1,652 507 24 13,934 3,399 1.302 792 339 1.400 1.052 1.196 1,652 507 24 13,934 3,399 1,302 792 339 1,400 1,052 1,196 1,459 5,832 14,541 4,725 1,226 705 353 487 63,806 5,084 68,890 61,895
Page 18 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 COSTS OF 1141STNG FUNDS Unrestricted Restricted 2024 2023 Cost of Goods Sold and Other Costs Coffee Bar 14.464 14,464 11,006 EXPENDITURE OLN CHARITABLE ACTIVITIES Unrestricted Restricted 2024 2023 Events Section Expenditure Wages and Salaries Pensions Stationery and Postage Telephone and Internet Heat and Light Water Rates Insurances and Licences Building and Equipment Maintenan¢e Cleaning, Laundry and Rese Professional Fees Independent Examiners Fees General Expenses Donations Loss on Disposal of Fixed A&sets Depreciation of Equipment Depreciation of Coffee Bar 862 943 5,281 5,557 1.805 5,281 52.011 1,244 1,363 1,400 26,292 10.976 1.171 9.720 3,185 14.533 3,244 2.070 644 1,000 1,186 1,578 42,252 176 1.385 3,007 24,054 3,083 2,150 2,793 2,603 10,821 1,513 2,130 639 46.454 1.244 1,363 1,400 26,292 10.976 1,171 9,720 3,185 14,533 3.244 2.070 1,000 70 4,005 2,518 3,231 2.518 3,231 2,518 129,907 11,781 141,688 105,963 NET INCOTrIEI EXPENDITURE FOR THE YEAR 2024 2023 Thls is stated after charging: Independent Examinees Fees Loss on Disposal of Fixed Asseis Depreciation 2,070 2.130 70 6,523 5,749
Page 19 PIUMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ANALYSIS OF STAFF COSTS TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MAL¥AGEMENT PERSONNEL Unrestricted Restricted 2024 2023 Wages and Salaries Pensions 46.454 1.244 5,557 52,011 1,244 42,252 176 47,698 5,557 53.255 42,428 No employees had employee benefits in excess 01£60,000 during the year (2023: £nil). The charity trustees were not paid or received any other benefits from employment with the charÈty in the year (2023.. £nil) neither were they retmbursed expenses during the year (2023.. £nil). No chartty tntee received paymeni for professional or other services supplied to the charity (2023.. £nil). The key management personnel of the charity comprise the InteeS and the Centre co-ordinator. The total employee benefits of the key managemeni personnel of the charity were £10.845 (2023.. £5,422). STAFF NUMBERS The average monthly head ¢ount was as follows: 2024 Number 2023 Number Centre support workers 10. RELATED PARTY TRANSACTIONS Primrose Community Enterprises Lid is a wholly owned subsidiary of the Association. During the year surplus fiu]ds amounting to £14,000 (2023: £8,000) were donated to dle Association and are included in note 3 to the fmancial sialements. In addition, £998 (2023: £944) of insurance cosis, borne by Primrose Conmiunity Association have been recharged to Primrose Community EnteriseS Ltd. £6.998 (2023: £8,944} was outstanding at the year end and is included within debtors. H. Sprouting, who is a director and tnlee of Primrose Community A&sociation. is also a dire¢¢or of Primrose Community Enterprises Ltd. No fiffther transactions with related parties were undertaken such as are required to be disclosed under FRS 102. 11. INDEPENDENT EXAIIIINERS FEE The independent examination work conducted during the year constituted a fee of £2,070. 12. T AXATION As a Charity. Prinwose Community Association is exenwt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Page 20 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 13. TANGIBLE FIXED ASSETS Coffee Bar ui Total COST At 1st April 2023 Additions Disposals At 31st March 2024 25.178 42.870 68,048 25,178 4?,870 68,048 DEPRECIATION At 1st April 2023 Charge for Year Disposals At 31st March 2024 20.984 2,518 34,078 3,231 55,062 5,749 23,502 37.309 60,811 NET BOOK VALUE At 31st March 2024 1,676 5,561 7,237 At 31st March 2023 4,194 8.792 l2,986 14. STOCK 2024 2023 Coffee Bar Slock 397 198 15. DEBTORS 2024 2023 Trade Debtors Pritnrose Community Enterprises Ltd 350 8,944 6,998 6,998 9,294 16. CREDITORS 2024 2023 Amounts due ivithin one year:_ Accruals 20,980 9,507
Page21 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 17. STATEMENT OF FUNDS At 1st A ril 2023 Incomin Resources Resources ended At 31st March 2024 Unrestricted Funds 85.267 116,035 (144,371) 56,931 Restricted Funds National Lottery Jarrow Festival Committee 5,000 (5,000) {1,500) 1,500 5.000 1.500 (6.500) Restrieted Funds Section Accounts Indoor Bowls Squash Maintenance Residents Association Toddlers Camera Club xyw Bar Social Fund 2,892 3.700 1,228 407 45 1.828 2,937 2,890 1,228 606 450 (2.638) 435 450 (236) 63 1,613 (63) (2.344) 2.326 1.595 9.903 5,084 (5,281) 9,706 Total Funds 100,170 122,619 (156,152) 66,637 Unrestricted Funds - General These funds can be used in anyway by the tnteeS in accordance wtth the objectives of the charity. Unrestricted Funds - Desiguated These funds have been reserved for future planned activity and contingencies. The unrestricted funds held are summrrised as follows:_ 2024 2023 General 3,431 24,767 Designaled Staffmg and redundancy Equipment replacement contingency Six months running cosls of the Association Limited liability contingency 10,000 15.000 2.000 43.000 500 43,000 500 56,931 85,267
Page 22 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 17. STATEIVIENT OF FUNDS Iconliuugd) Restricted Funds These represent fijnds received which are restricted for a specific purpose. Amounts are released from these funds when the expenditure to which they relaie is incurred by the charity. The restricted funds received are sumnwised as follows:_ NaÈtonal Loiiery This wa5 a grant, restricted for salary support for a new Centre Coordinator. JapTOlV Festlval Committee This was a grant. restricted for the purpose of delivering events for the Jarrow Festival. Restricted Funds - Section Accounts These funds represent Section fijnds held within the charity. 18. ANALYSIS OF LIET ASSETS Restricted Funds Other Restricted Funds Seetion Accs Unrestricted FuNds TOTAL Fixed Assets cuellt Assets Current Liabilities 7,237 70,674 (20,980) 7,237 80,380 (20,980) 9,706 Net Assets at 3 1st March 2024 56,931 9.706 66,637 Restricted Funds Other Restricted Funds Section Accs Unrestricted Fuuds TOTAL Fixed knels Current Assets Current Liabilities 12.986 81,788 (9.507) 12,986 96,691 (9,507) 5,000 9,903 Nel Assets at 31 st March 2023 85,267 5.000 9.903 100,170 19. ULTIMATE CONTROLLILNG PARTY In the opinion of the tnte¢s. there is no ultimate controlling pary of the charity other than the board itself.