COMPANY REGISTRATION NUMBER 08555227 REGISTERED CHARITY NUMBER 1152861 bEw PIUMROSE CONIMUNITY ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 31ST MARCH 2025 BELL TINDLE MfILLIAMSON LLP Chartered Accountants & Registered Auditors The Old Post Office 63 Saville Street North Shields Tync and Wear NE30 IAY
PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUAIL4NTEE YEAR ENDED 31ST MARCH 2025 CONTENTS PAGE Report of the Trustees i- io Independent Examiners, Report to the Trustees Stateinent of Financial Activities 12 Balance Sheet 13 Notes to the Financial Sialemenls 14-22
Page I PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The tru8tees are pleased lo present their annual directors, report together with the financial statements of the charity for the year ending 31 sl March 20?5 which are also prepared to meet the requireinents for a directors report and financial statements for Companies Act purposes. The financial statements comply with the Cliaritie5 Act 2011, the Companies Act 2006, the Memorandum and Articles ot. A4%ociation, and the charities Sialemenl of Recommended Practice (applicable lo charitie% preparing their financial slalemenls in accordance wilh the Financial Reporting Standard applicable in the UK and RepubliL of Ireland; FRS 10?) issued in October 2019. Our Pur oses and Activities Purpose The objects of the charity are specifically restricted lo the following.. { l ) To promote the beiiefit of the inliabitants of tlie Borough of Soutli Tyneside and the neighbourhood without distinction of %ex or political, religious or other opinions by associating the local authorities, voluntary and other organisalions in a conunon effort to advance education and io provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the ¢ondition8 of life for the said inhabitants. (?) To establish or lo secure the eslablislllnenl of a con]muiuty celltre aiid to maintain and manage, or to co- operate willi the Sollth Tyneside fvletropolilan Borough Council in the maintenance and manaoemenl of such a cenlre for aclLvilies promoted by the Association and ils consliluenl bodies in furtherance of the above objectives. (3) The Associa(ion shall have power lo affiliate to other organisalions with similar charitable objects and shall be llon-party in politics and non-seelarian in religion. In pursuance of these objectives the trustees shall be responsible foT the maiiagement of the community centre and adminislralion of the Con]munily Association in accordance with the provision of its Articles of Association. Vision Statement Primrose Comrnunity Association serves the needs of the local community, takes up stewardship on their behalf and confidently and competently keeps pace with the changes in our society. How We Met Our Chariluble Objectives Cliarity Iruslees have a duty of public benefit and this 18 demonstrated at Primrose Community Association through the management of the community centre delivering a prograrnme of activitie5 which n]eet the needs of the local community. The board of trustees have a strong pedigree ot inlegrily, an ability to balance the book5., in maintaining solvency and in ensuring the efficiency of d]e charity. The first priority of the Iruslees is lo support Ibe chariiable objectives of Prin)rose Community Association. In doing so we regularly check to make sure that Primrose Community Association complies with Charity Law, thai no breaches occur in any of the requirements set out in our governing document and that we remain true to our ClrItable purposes and objects. The trustees fully recognise their legal responsibility for the affairs of the charity and uphold their explicit duly lo scrulitlise key issues and decisions, lake independent advice and report as necessary.
Page 2 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Ensuring Our Work Delivers Our Aims The trustees review our aims, objectives and activities each year and 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 sel up lo help. The review also helps us lo ensure that our airns. objectives and activities have remained focused on our stated purpose8. The Irusiee5 have referred lo guidance contained in the Charity's Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trublees onsider how planned activities will contribute to the aims and objectives they bave set. The Focus 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 al a reasonable price to enable the local community lo acce5S the facilities on ofter. The management of a welcoming and safe community centre that meets the needs of the local commlln(ty. The provision of regular activities groups for the local community which promote health and well-being. Currently Illl"s includes a toddler and baby group, squash, sci fi, XYW, camera club, music and two craft groups. The provi%ion of rooms for hire by activity groups currently Bede of Jarrow U3A, Dancetastic Children's Dance School, Jarrow Model Railway Club, Forniidable Per%onal Trainer, Can Do Pilates, Karate, Jujilsu, Tai Chi classes, Guide Dogs, Slimmevs 4 All, Meditation and Spiritualist Development. FacililÉes for family nctiOns.. parties, celebrations, and nerals. Meeting rooms for training courses, group meeting and functions. Providing a coffee bar and other facilities to encourage soc?al integration with the aim of avoiding isolation and loneliness. Facilities for the local community, family functions, funerals and celebration5 including a licenced Lounge Bar, managed by our subsidiary, Primrose Con]munity Enterprises Ltd. How Our Aetivities Deliver Public Benefit The trustees remain fiLlly focused on providing a community hub for social collaboration, tnclusion and well being; ensuring our work reflecls our Jnembership profile. supporting children and young people,. delivering adult education. facililaling sports and leisure activities and tackling health inequalities. All these activities are undertaken lo further our Charitable purposes for the public benefit. Who Used und Benefittedfroni Our Services. Membership is open to anyone in tbe community. Members of our user groups taking part in interest, social and sporting activities. Users of the activity groups hiring our facilities. Local residents attending family and social events. Attendees of meetings and training course5 using our facilities.
Page 3 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Achievemellt5 and Performance Prin]rose Coinmunity Association has undertaken the management and Maintenance of the Community Centre. Membership ol the Association was ?37 al the end of the financial year. The As8ocialion had 8 activity sections during the year.. two craft groups, camera club, music, sci-fi, squash, toddlers, XYW. Attendance at our activity sections increased ihrough the year with an average of i50 attendances a week. Squash is the largest section with around 90 members enjoying their high quality courts. There are internal leagues and 3 men's and a ladies team playing in the Northun]bria Squash Leagues. The squash section organise the annual Derek Brown Toumamenl for their members. The toddler group attracts around 20 children with parents/carers per session enjoying crafts and fun activities. There were two teddy bear picnics funded by the Jarrow Festival and two Christmas parties with Santa. During the year the i)umber of groups that weekly hire the facilities for their activities have increased. Karate and Jujilsu both leach martial arts ski115 to both adults and young people and hold regular gradings. Meditation introduces meiital and physical techniques to focus and clear the mind. Dancetaslic Dance School develops dance and performance 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 skills. Age Concern Tyneside South (ACTS) support individuals and lamilies with benefit and other issues. Slimming 4 All supports people to irnprove their diet and loose weight. Jarrow fvlodel Railway Club have adult and junior members enjoying their interest and held two exhibitions. Pilate5 introduces and practices exercises that improve muscle tone. Bede of Jarrow U3A hold their monthly meetings, coffee momings. art group, drama group and social events in the centre. The centre has algo been hired by an increasing number of organisations to host their training, conferences, and aclivities. Duke of Edinburgh Award Scheme, Tyne River Trust, Castleview, hearing tests for velerans regularly hire the cenlre. Forn]idable Personal Training now hire the old indoor bowls hall and delivers fitness activities lo groups and ind1.1dua]%, including diversionary activities for young people for the youtli %ervice and Valley View and Jarrow School. During the year there were I I I children's parties, 21 evening nCtionS . 22 funerals and 6 baby showers held al the cenlre.
Page 4 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST IWIARCH 2025 Achievements and Performance (coiiliiiiled) The traditional Christmas Switch On and Chrtstmas Fayre w2s held in late November and was well supported by Centre u4ers, Valley View School and families from the Primrose Estate. The School choir entertained with Christmas carols. The Aqsociation organised aftemoon lea8. Halloween Party, and reintroduced a highly successful New Years Eve Party for users and local residents which was sold out. The Association success11Y applied for a grant fron] Jarrow Festival Con]millee for activities in May, The centre is a popular venue for family celebrations with 162 family functions taking place during the year. The trustees continued lo engage with South Tyneside Council to resolve the outstanding issues related to the lease of the premises. The lease was eventually signed in April 25 and the promised roof repairs were conipleled. Primro8e Community Association is blessed with 8 regular volunteers who support our weekly activities and event5. Without their commitment to the centre il would not function. Financial Review The charity with the aid of sound financial management, reports an unrestricted deficit of £18,729 for the year to 31 st March 2025. This iiiclude5 £6,000 donated by Prinirose Comn]uiiity Enterprises Ltd. Our subsidiary, Primrose Community Enterprises Lid, reports a loss of £4 for the year to 31st March 2025, after accounting for ils £6,000 donalion to the Association. Principal Funding Sources The funding of the charity comes from a range of sources and the principal funding source8 are as follows.. Association Membership fees. Income from the Association's 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 Con]munity Enterprises Ltd. Cost Analysis Staff salaries, heating and lighting, and cleaning & refuse costs are the largest expenditure of the Charity. Gas, electrictty and water char(Fe% are direct costs to the charity through contracts with Drax. SEFE and Wave. Business rates are subject lo the 80 % mandatory reduction tor charities. Inveslmeni Powers and Polic'y Under the Articles of Association. the charity ha% ihe power to invest funds in the same manner and subject to the same conditions as the trustees of a trust are pern]illed to do by the Trustee Act ?000.
Page 5 PRIMROSE COMMUNITY ASSOCIATION A COMPAINY LIlITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Re.%¥rve.f Policy Going Concern The charity regularly as$e55es and reviews its reserves policy in line with financial perfomance. risk and the external environment. It is good practice for a charity to reserve ndS for tUre planned activity and contingencies These are degignaled as follows: Restricted Flind5 Section funds UnrestYicÈed Fiinds Stafting and redundancy fund. Equipment replacement contingency fund. Two 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 management accounts and is reviewed regularly to ensure that the charity can meet it4 financial commitments. Plans for Future Periods The charity will seek to recruit additional trustees lo support the development of the centre and ils activities. The trustees are aware that the projected expenditure is greater than the current income. The prices will be reviewed against the local market of conununily facilities. Budgets and cash flows will be closely monitored to ensure the Association can meet its financial responsibilities. Tbe trustees will continue lo keep 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 Genlre in good repair. The charity's website will be redesigned to promote the centre and it's activities. A progran]me of social events will be developed and advertised to celebrate traditional festivals which bring together members, users and the local community. Primrose Community Association will continue lo connect people to the service5 they need across health, economy and social programmes making the best use OF partnerships between statutory. volunlary. faith and business communities.
Page 6 PRIMROSE COMIIqUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Reference and Administrative Details Charity Name.. Prin]rose Community Association Charity Registration Number." 1152861 Company Registralion Nuiiiber.. 08555?27 Registered Offiee & OperaÉioitalAddress." Lambton Terrace Jarrow Tyne and Wear NE32 5QY Bankvr5 '. Barclays Bank plc 64 - 66 King Street South Shield5 Tyne and Wear NE33 IHZ Independeni E.Yaminer.' E. J. Hart%horne-Ferguson BA FCA Bell Tindle Williamson LLP The Old Post Office 63 Saville Street 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 erved during the year and since the year end were as follows- Key management personnel Primrose Community Association: Trustees, and Directors Elected Truslees.. P. J. Milburn R.W. Lydon S. P. Chilton H. Sprouting A. J. Young C. Goss D. Kennedy S. Southern (Chair) (Chair) (Treasurer) (Resigned l ? 1 ? 24) (Appointed J ? l ? ?4) (Resigned 1.12. ?5) (Appoinied l. J2. ?5) Structure Governance and Mana ement Governing Documgnt Primrose Community Association 1% a registered charity (registered nurnber 115?861} and a company limited by guarantee e%tablished and governed under its Articles of Association dated 4th June 2013 which states the objects and powers of the charitable COTnpany.
Page 7 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Structure Governance and Mana ement fL(>lltiiiiiÉd) Governing DvLuinent The trustees confimi that if the Lharily is wound up whilst Iliey are a trustee or if il is wound up within oi)e year of them ceasing to be a Iruslee, they would be required lo contribute an an]ounl, not exceeding £1, towards tbe pawienl of the debi% and liabilities of the charity. AppoiAtiiient of Truslees Trustees are recruited io meet qpecific needs in the organisalion for specialist expertise, business skills and professional standing within relevant fields. Without prejudice. lo any provision in the Articleg of Association, the tru8tees holding office at any lime may include the following.. { l ) One person noniinated by each of the Sections recognised by the trustees. (2) Up to four people elected by and froTn the tnen]ber5hip (or prior to) the Annual General Meeting. (3) Up to two people nominated by Valley View Primary School; and {4) Up lo three people co-opted by Ihe trnslees for Ihe skills or experience they will bring 10 running the Association. Under the requirements of the Articles of Association, the trustees shall from time to lime delennine procedures for Ibe election of trustees, which niay include elections held al the Annual General Meeting, or a p051al ballot of the menibers coiiducted prior lo Ibe Annual General Meeting, or any other method considered to be effective and democratic. Elected trustees shall lake otTice at the conclusion of that meeting and shall serve until the Conclusion of the next Annual General Meeting. A retiring trustee shall be eligible lo be re-elected. All of the trustees give Ilieir time voluntarily and receive no benefits from the charity. Trusiee Selection The tru%tees. who served the charity during the year are detailed on page 6. Eleven irustees served the charity during Ibe year. Should the charity wish lo appoint further trustees, it would do so using the criterion noted above. Truslee Induction and Traiiiing New trustees are likely to know the background of the work that the charity does before joining the board but will still attend a series of short training sessions lo fully learn about the charity. The main documents which set out the operational framework of the charity, including the Articles of Association will be discltssed with any new trustees. New trustees will also be briefed on the cuent financial position of the charity with the aid of the mosl recent set of financial %lalenienls. Finally, Ihe current resources, grant funding and other revenue streams will be discussed witli new trustees as well as the future plans of the charity.
Page 8 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Trustee Induction und Training (coittt*iiigd) All trnslees are familiar with the practical work of the charity and have also been encouraged lo consult the various Charity Cominissioii publications signposted ihrough the Commission's guide "The Essential Trustee" and the infomiation sheets provided on the Cominission's website. In the forthcoming year, the current trustees will seek lo ensure appropriate training is provided for them and that proposals are brought forward lo enhance the potential pool of tru%tee5. Organi5ation The board of Iruslees administer the charity and set the 8trategic direction. On an aEmual basis they agree the strategy and sel the objeLtives which are incorporated into the strategic plan. They meet bi-monthly lo receive an update from the treasurer and agree actions lo move the buqine$5 plan forward. The Iruslees oversee governance of the charity. Primrose Community Association is led by the cliair and officers of a board of trnstees and executive trustee5 have been granted a range of delegated authorities by the Iruslees in order to run the organisation efficiently. Related Parties Primrose Community Enterprise5 Ltd is a wholly owned subsidiary of the Association. During the year surplus funds amounting lo £6,000 (?024.. £14,000) were donated lo the A%%ociation. In addition, £961 {2024.. £998) of insurance costs. borne by Primrose Community Association have been recharged lo Primrose Community Enterprises Ltd. £6.000 (20?4'. £6,998) wa% outstanding at the year end and is included within debtors. H. Sprouting, who is a direcior and tru.%tee of Primrose Community Association, is also a director of PrimTose Comrnunity Enterprises Ltd. Pay PDlieyfor Senior Staff The board of directors. who are the charity's InLStees, give of their lime freely and no director received remuneration in the year. Primro4e Comtnunity Association employ8 a Centre Co-ordinator in a senior position. The pay ol senior staff is reviewed annually. Senior staff yalaries are considered in line with tbe organi5ation's size, the cojnplexity of the roles and the responsibilities that the staff carry. When recnLiling to new senior management roles, salaries are benchmarked against similar roles and res.pon.sibilities and we also consideT the market and availability of skills in setting salaries. Risk Mqnagepnent The trustees have conducted a review of the major risks to which the uharity is exposed. As part of the risk management process, the trustees have implemented a risk managenient 5lrategy which comprises.. { I l An annual review of the risks that the charity may face; (2) Detailed action plans lo mitigate those risks identified; and (3) Itnplen]entation procedures designed to minimise any potential iinpact on the charity should any of thege risks materialise.
Page 9 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Risk Munagement fcottriiiiiéd) The biggest risk the charity currently faces is the poienlial impact of the cost of living crisis with the potential reduction in usage and therefore income to the charity, the significant rise in the minimum wage, utilities, and purchases essential to the running of the cenlre. The trustee% will regularly monitor the impact on its budgets and the cash tlow, seeking lo reduce expeiiditure wherever possible and develop new activitie.8 and user groups. They will also seek funds througli appropriate grants for core costs aiid development of new activities and replacttment of equipment and thmiture. Corporate Governance Internal controls over all fornis of commitment and expeiiditure continue to be refmed lo impTove eiciency. Processes are in place lo ensure that performance is monitored and that appropriate management infonnalion is prepared and reviewed regularly by the trustees. Trustees, Res onsibilities in Relation to the Financial Statements The charity truglees (who are also the directors of Prin]rose Community Association for the purposes of company law) are responsible for preparing a trustee8' annual report and financial statements in accordance with applicAble law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees lo prepare financial statements for each year which give a true and fair view of the state of affairs of the Lharilable company and of the incoming resources and application of resources, including the income and expenditure for that period. In preparing the 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- ake judgments and eslimales that are reasonable and prudent; 81ale wliether applicable UK Accounting Standards Ive been followed, subject to any material departures disclosed and explained in rhe financial %latementS,' prepare the financial statements on the going concern basis unles5 It is inappropriate to presume that the charity will Lontinue in business. The trustees are re%ponsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of Ibe charity and to enable them to ensure that the financial slalements comply with the Coinpanie.% Aci ?006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the preveniion and detection of fraud and other irregularities. The Iruslees are responsible for the maintenance and integrity of the corporate and financial inforn]ation tncluded on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ frorn legislation in other jurisdictions.
Page 10 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Stalenient as to disc105ure to our independent exuminers In so far as the Iruslees are aware at the lime of approving our trustees, annual report- there is no relevant infornMtion, being information needed by the independent examiner in connection with preparing their report, of whicli the company's independent examiner is unaware; and the iruslees, having made enqutries of fellow directors that they ought to have individually taken, hav¢ each taken all the steps that he/she is obliged to take as a director in order lo make themselves aware of any relevant inforn]alion and to establish that the charity's independent examiner is aware of that infonnation. Inde endent ETaminer E. J. Hartshorne-Ferguson BA FCA of Bell Tindle Williamson LLP will continue in office as independent examiner for the eiisuing year. This report was approved by the trustees on 17th December 20?5 and signed on their behalf by.. R.W. LYDON Tru51eelDirector
Page 11 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRIIWIROSE COMMUNITY ASSOCIATION FOR THE YEAR ENDED 31ST MARCH 2025 I report on the financial statements of th¢ charÉty for the year ended 31 March 2025, which aTe set out on pages 12 REsPEcTE RESPONStBILITIES OF TRUSTEES AND EXAMINER The trustees (who are also the directors of the cotnpany for the purposes of company law) are responsible for the preparation of the fmancial sialements. The charity's Iruslee5 consider tbal an audit is not required for this year under section 144{2) of the Charities Act 201 I (the ?0 I l Act) and that an independent examination is needed. Having satisfied myself that the charity 1% not Subject lo audit under Part 16 of the Companies Act 2006 and is eligible for independent exarninalion, it is my responsibility to.. examine the financial statements under section 145 of the 2011 Act- follow the procedures laid do1 in the General Directions given by the Charity Commission under section 145{5)(b) of the 201 l Act, and state whether particular matters have come lo my attention. BASIS OF INDEPENDETr4T EXALWIINER'S REPORT My examination was carried out iii accordance with the General Directions given by the Charity Comn]i5sion. An examinalioll includes a review of the accoLLnling records kept by the Charity and a comparison of the fllLqncial Slalemenls presented with tho.8e records. It also includes consideration of any unusual items or disclosures in the financial staternents, and the seeking of explanations from you, as Trustees, concerniiig 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 whether the financial statements present a 'lrue and fair view. and the report is lin]ited to Ihose matters sel out in the statement below. INDEPENDENI T EXAMINER'S STATEMENT Ln connection 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 Act 2006, and Ib} to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006. Ic) to prepare financial statements in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. have not been met. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial 51atemenls to be reached. Bell Tindle Williamson LLP Chartered Accountants The Old Po%1 Otlice 63 Saville Sireel North Shields Tyne & Wear NE30 IAY tJlkLK /_ E. J. Hart%horne-Ferguson BA FCA Independent Examiner CHARTERED ACCOUNTAwfs AND REGISTERED AUDITORS 17th Deceinber ?025
Page 12 PRIMROSE COMMUNITY ASSOCIATION A COMPAINY LIMITED BY GUARANTEE STATEfvIEINT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 Unrestrieted Funds Restricted Funds 2025 2024 Note INCOME: Donations and Legacies 6,085 2,250 8,335 17,250 Income from Charitable Activities 67,340 2,722 70,062 68,890 Investiiieni Ineoiiie Interest on Casli Deposits 669 669 721 Inconiefrom Other Trading.4etivities Coffee Bar 37.834 37,834 35,490 Sundry Income 1,267 1,267 268 TOTAL INCOMING RESOURCES 113,195 4,972 118,167 1??,619 EXPEL¥DITURE: C(Trsls of Raising Funds Cost of Goods Sold and Other C08tS 14,333 14,333 14,464 Expenditure on Charitable Activities 117,591 3,580 121,171 141,688 TOTAL RESOL'RCES EXPENDED 131,9?4 3,580 135,504 156,152 NET LWIOVEMENT IIY FUNDS (18,729) 1,392 (17,337) {33,533} RECONCILIATION OF FUNDS Transfer Between Funds Total Fuiids Brought Fonvard 500 56,931 (500) 9,706 66,637 100,170 TOTAL FUNDS CARRIED FORWARD 38.70• 10,598 49,300 66.637 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All incoming resources and resources expended derive from continuing activities The notes page3 14 to 22form part of thesefinancial statements.
Page 13 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31ST MARCH 2025 Note 2025 2024 FIXED ASSETS Tangible a55etS 13 4.60? 7,237 CURRENT ASSETS Stocks Debiors Cash al Bank and in Hand 14 15 463 6,635 46,393 397 6,998 72,985 TOTAL CURRENT ASSETS 53,491 80,380 CREDITORS- ANL IOUNTS DUE WITHIN ONE YEAR 16 8,793 20,980 NET CURRENT ASSETS 44,698 59.400 TOTAL ASSETS LESS CURRENT LIABILITIES 49,300 66,637 FUNDS OF THE CHARITY Unrestricted Funds Restricted Funds - Other Restricted Funds - Section Accounts 17 17 17 38,702 168 10,430 56,93 I 9,706 TOTAL CHARITY FUNDS 49.300 66,637 These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject lo the small companies, regime and in accordance witb FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. For the year ending 31st March ?025 the company was entitled to exemption from audit under section 477 of the Companies Act ?006 relating to small companies. Directors, responsibilities-. The metnbers have not required the charitable coinpany to obtain an audit of its financial statements for the year in question in accordance with section 476. The directors aeknowledge their responsibilities for complying with tbe requireme]Its of the Act with respect to accounting records and the preparalkon of financial statements. These financial statements were approved by the board of directors and authorised for issue on 17ib December 2025 lld are signed on their behalf by.. R.W. LYDON TsteeireCt0r Registration Number= 08555227 The notes on pages 14 to 22forin part of thesefinancial 5ÉateHients.
Page 14 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES The principal accounting policies adopted. judgements and key sources of esiimalion uncertainty in the preparation of the financial slatenient5 are as follow5.. a) Basi5 of Pre aration The finaiicial staternents have been prepared under the historical cost convention, and in accordance with the Charities.. Sialenienl of Recomn]ended Practice (applicable lo charities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021) (issued in Ociober 20191 (Charities SORP {FRS I O?)), the FinanLial Reporting Staiidard applicable in the UK and Republic of Ireland {FRS 10?) and the Companies Act 2006. Priiiirose Cominunity Association meets the definition of a public benefit entity under FRS 102. As%ets and liabilities are initially recognised at historical cost or transaction value unle55 olhenvise stated in the relevant accounting policy note. b) Pre aration of the Financial Statements on a Goin Concern Basis The Irusiees consider that there are no material uncertainties about the Charity's ability to continue a5 a going concern. There are no significant judgemen15 or key sources of estimation uncertainty that affect the financial statements. c) Cash Flow Statement The trustees have taken advaniage of the exeniption frotn including a cash flow statement in the financial slatenients on the grounds that the charity is small. d) Income All income is recognised once the charity ha% entitlement to Ibe income, it IS Probable that the income will be receTved and the amount of income receivable can be measured reliably. The following specific policies are applied to particular categories of income.. Donations and grants are recognised when the charity has been notified in writing of both the amount and settlement dale. In the event that a donation is subject lo conditions that require a level of perfonnance before the charity is entitled lo the fund8, the income is deferred and not recognised until either those conditions are llY met, or the lfIlMent of those conditions ib wholly within the control of the charity and it is probable that those conditioiis will be fiLlfilled in the reporting period. Income from activity groups is recognised when monies are receivable for taking part in the relevant activity. Income from charitable fundraising events is recognised when il becomes receivable. Income from trading activities 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 FINAINCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTif4G POLICIES (coiitiiiu¥d) e) Fund Accountin UnreslriLted funds comprise those funds whicb the INstees are free to use for any purpose in furtl)erance of the charitable objects. Unrestricted fund5 include designated funds where the Iruslees, at their discretion, have Lrealed & fund for a specific purpose. Restricted funds comprise donations which the donor has specified are lo be solely used for particular areas of the charity's work or lor special projects being undertaken by the charity, and designated Section fund4. enditure and Irrecoverable VAT Expenditure is recognised once there is a legal or conslNclive obligation to make a payrnenl to a third party, il is probable that settlement will be required and the an]oullt of the obligation can be measured reliably. Expenditure is classified under the following activity headings- Costs of raising funds comprise the costs of COnercIal trading including the coffee bar. Expenditure on charitable activities includes the costs of perfonnances, event.8 and other activities undertaken to Further tbe purposes of the charity and their associated support costs. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination lees and costb linked lo the slralegtc management ot the charity. Irrecoverable VAT is charged as a cost against Ibe activity for which Ibe expenditure was ineurred. ort Costs Support costs are those nCtIonS that assist in the work of the charkly but do not directly undertake charitable activities. Support costs include office costs, finance, payoll and governance c05t% which support the charitys activities. These costs have been included within expenditUTe on charitable aclivilies. ible Fixed Assets Tangible fixed a5set5 are stated at cost less depreciation. Depreciation is calculated to write off the cost of fixed assets over the expected useful lives of the assets concerned. The principal annual rates for this purpose, which are consislenl with those of the previous year, are'.- Asset Category Annual Rate Equipment Coffee Bar 20/0 io/. i) Stock Stock is included at the lower of cost and nel realisable value.
Page 16 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES (coiitiniied) j) Debtors Trade and other debtors are recoonised al the seiilemenl amount due after any trade discount offered. Prepayments are valued ai the amount prepaid net ol aiiy trade discounts due. k) Cash at Bank and in Hand Cash at bank and in hand comprises petty cash and fiJnds lield in the charity PayPal account, bank current and deposit accounts. l) Creditors and Provisions Creditors are recognised where the charity has a present obligation resulting fron] & past event that will probably result iii tlie transfer of funds to a third party and the amount due lo settle the obligation can be mea4ured or estimated reliably. Creditors &re norn]ally reLognised al their settlement amount after allowing for any trade discounts due. m) Financial Instruments The charity only has financial a%.%els and financial liabilities of a kind that qualify as basic financial inslrunienls. Basic fiiiancial instruments are initially recognised at transaction value and subsequeiitly measured at their settlemeiil value. LEGAL STATUS Primrose Con]munity Association is a company limited by guarantee and as such has no share capital. In the event of the charitable company being wound up, Ibe members would be required to contribute an arnount not exceeding £1.
Page 17 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 DONATIOINS AND LEGACIES Unrestricted Restricted 2025 2024 Grants Chuler Ede Community Association Jarrow Festival Committee 750 1,500 1,750 1,750 Donati0115 Prin]r05e Community Enterprises Lid Molson Coors General 6,000 6,000 500 85 14,000 500 85 1,000 6.085 2.250 8,335 INCOME FROM CHARIT ABLE ACTIVITIES Unrestricted Restricted 2025 2024 Events Facilities Section ReLeipl.4 Activity Groups Menibership Indoor Bowls U3A Bowls Squash Toddlers xyw Atoria Sci-Fi Music Camera Club Sewing Bee Craft Cla%s 2,359 39,840 2,359 39,840 ?,7?2 1,8?0 36,389 5,084 2,722 1,593 1,593 1,652 507 24 13.934 3,399 15,281 ?,093 1,200 835 507 2,093 1,200 835 507 1,258 1,2?3 1,151 792 339 1,400 1,05? 1,196 1,223 67,340 ?,7?? 70,062 68,890
Page 18 PRIMROSE COMNIUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 COSTS OF RAISING FUNDS Unrestricted Restricted 2025 2024 Cost of Goods Sold and Other Costs Coffee Bar 14,333 14.333 14.464 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Restricted 2025 2024 Events Section Expenditure Wages and Salarie5 Pensions Stationery and Postage Telephone and Iiiternet Heal and Light Water Rates Insurances and Liceiices Building and EquipTnent Maintellance Cleaning, Laundry and Refuse Profes8ional Fees Independent Examiners Fees General Expenses Donations Loss on Disposal of Fixed Assets Depreciation of Equipment Depreciation of Coffee Bar 441 344 1,998 1,238 785 1,998 56,871 664 1,805 5,281 52,754 501 1,363 1,400 26,29? 10,976 55,633 664 1,221 2,181 32.156 3,640 2,181 3,640 1,141 1,481 2,780 8,678 49? 2,100 832 1,481 2.780 8,678 492 2,100 832 9,7?0 3,185 14,533 3,244 2,070 644 1,000 59 2,296 1,796 59 2.296 1,796 3,231 2,518 I17,591 3,580 1?1 171 141,688 NET tNCOMEI EXPENDITURE FOR THE YEAR 2025 2024 Tbis is stated after eharging: Independent Examinels Fees Loss on Disposal of Fixed Assets Depreciation 2,100 59 2,070 5,749
Page 19 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31ST MARCH 2025 ANALYSIS OF STAFF COSTS TRUSTEE REfvIUNEIL4TION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL Unrestricted Restricted 2024 2024 Wage5 and Salaries Pensions 55,633 664 56.871 664 52,754 501 56,?97 57,535 No employees had ernployee benefits in excess of £60,000 durinu the year (?024'. £nill. The charity trustees ivere not paid or received any other benefits from employment with the Charity in the year (?0?4.' £nil) neither were they reimbursed expenses during the year {?0?4'. £nil). No charity Iru%lee received payment tor professional or other services supplied lo tbe charily12024.. £nil). The key management personnel of the charity comprise the Iruslees and the Centre co-ordinator. The total employee benefits of the key management personnel of the charity were £1 1,940 (?024.' £10,845). STAFF NUMBERS The average n]onthly head count was as follows.. 2025 Number 2024 Iyumber Centre support workers 10. RELATED PARTY TRANSACTIOP4S Primro¥e CoTnmunily Enterprises Ltd is a wholly owned subsidiary of the Association. During the year surplus funds amounlin(T lo £6.000 (20?4: £14.0001 were donated lo the Association and are included in noie 3 10 the financial statements. In addition, £961 (20?4.. £9981 of insurance costs. borne by Primrose Community Association have been recharged to Primrose Conllnunity Enterprises Ltd. £6,000 (2074.. £6,988) was outstanding at the year end and is included withiii debtors. H. Sprouting. who is a director and trustee of Primrose Community Asqociaiion, is also a director of Primrose Cotnn]unity Enterprises Ltd. No rther transactions with related parties were undertaken such as are required lo be disclosed under FRS 102. 11. INDEPENDENT ELUIINERS FEE The independent examination work conducted during the year constituted a fee of £2,100. 12. TAXATION As a charity, Primrose Community Association is exempl from lax on income and gains lalling within Section 505 of tbe Ta.xes Act 1988 or section ?52 of the Taxation of Chargeable Gains Act 1992 10 the extent Ibai these are applied to Lts charitable objects.
Page ?0 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 13. TANGIBLE FIXED ASSETS Coffee Bar ui Total COST Ai 1st April 2024 Additions Disposals At 31st March 2025 25,178 1,446 4?,870 70 (ioo) 68.048 1,516 (ioo) 69,464 26,624 DEPRECIATION Ai 1st April 20?4 Charge for Year Disposal% At 31st Mareh 2025 23,502 1,796 37,309 60,811 4,092 (41) 64,862 (41} 39,564 NET BOOK VALUE At Jlst Mareh 2025 1,326 3,276 4,602 At 31st March 20?4 1,676 5,561 7,237 14. STOCK 2025 2024 Coffee Bar Stock 463 397 15. DEBTORS 2025 2024 Trade Debtors Primrose Community Enterprises Ltd 635 6,000 6,998 6,635 6,998 16. CREDITORS 2025 2024 Amounts due within one year:. Accruals PAYE & Ntc 8,207 586 20,980 8,793 20,980
Page21 PRIMROSE COMMUNITY ASSOCIATION A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 17. STATELWIENT OF FUNDS At 1st A ril 2024 Jncomin Resources Resources elided At 31st March 2025 Transfers Unrestricted Fund5 56,931 113,195 {131,9?4} 500 38,702 Restricted Funds Molston Coors Jarrow Festival Committee 500 1,750 {500) (1,582) 168 2,250 (1,58?) (500) 168 Restricted Funds Section Accoiints Indoor Bowls Squash Maintenance Residents Association Toddlers Camera Club Bar Social Fund 2,937 2,937 3.717 1,228 562 761 1,225 1,897 (1,070) 1,228 606 450 1,595 (44) (155) (729) 466 359 9,706 2,722 (1,998) 10,430 Total Funds 66.637 118,167 ( I35.504) 49,300 Unrestricted Funds - General These funds can be used in anyway by the trustees in accordance with the objective% of the charity. Unrestricted Fuiids - Desigiiated These funds have been reserved for future planned activity and contingencies. The unrestricted tunds held are summarised as follows'.- 2025 2024 General 5,702 3,431 De5ignatEd Staffing and redundancy Two months running costs of the Association LiTniled liability contingency 10,000 22,500 500 10,000 43,000 500 38,70? 56.931
Page 22 PRIMROSE COMTrIUNITY ASSOCIATION A COfvIPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 17. STATEMEF4T OF FUNDS (¢oiiliiitied) Restricted Funds These represent funds received which are restricted for a specific purpose. Amoun15 are released from these funds when Ibe expenditure lo which they relate 15 incurred by the charity. The restricted funds received are summarised as follows'.- Mols(on Coors This was a donation, restricted for Ibe purchase of a display fridge for the coffee bar. Jari'oK, Festival Committee Tliis was a grant, restricted t.or the purpose of delivering events for the Jarrow Festival. Restricted Funds - Section Accounts These funds represent Section fiLnds held within the charity. Transfer Between Funds £500 of reslricled reserves has been spent on capital expenditure during the year and a transfer has been made to LUestrIcted reserves as the restriction no longer applies. 18. ANALYSIS OF NET ASSETS Restricted Funds Other Restrieted Fuiid5 Section Accs Unrestricted Funds TOTAL Fixed Assets Current Assets Current Liabilities 4,602 42,893 (8,793) 4,602 53.491 (8,793} l68 10,430 Net Assets at 31 st March 20?5 168 10,430 49,300 Restricted Funds Other Restricted Fund5 Seetloll Acc5 Unrestricted Funds TOTAL Fixed Assets Current Assets Current Liabililkes 7,237 70,674 {20,980} 9.706 80,380 (20,980) Net Assets al 3 1st March 2024 56,931 9,706 66,637 19. ULTIMATE CONTROLLING PARTY In tlie opinion of the trustees, there is no ultimate controlling party of the charity other than the board il5elf.