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REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR PEAREY HOUSE
PEAREY HOUSE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Statement of Assets and Liabilities | 8 |
| Notes to the Financial Statements | 9 |
PEAREY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees have pleasure in submitting their annual report and financial statements account for the year to 31[st] March 2025.
OBJECTIVES AND ACTIVITIES
Objectives and activities
The object of the CIO is to relieve the needs of blind and partially sighted people, resident within the borough of North Tyneside particularly but not exclusively by providing, or assisting in, the provision of services, facilities, advice and support designed to relieve the needs of such persons.
Public benefit statement
The trustees have had regard to the Charities Commission’s guidance on their legal duty on public benefit, and are satisfied that the CIO delivers public benefit, and due regard is paid to the guidance on public benefit when deciding on what new projects the CIO should undertake.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
It was another busy year for Pearey House centre for visually impaired with some important changes including a new cook and the sad closure of Iris community hub.
There was no movement of tenants in the residential flats or at Osborne Gardens this year. After a lot of deliberation, it was decided to rent our commercial property on Queen Alexandra Road which now brings in a rental income.
Fund raising events included a bingo and karaoke night, Christmas and Summer Fair and also a silent disco which were all well attended and enjoyed.
We are extremely grateful for the continued support and dedication of individual volunteers. We also have a great network of business volunteers which last year included EE, IPS Adhesives, Equans, Renolit and Newcastle Building Society.
Everyone enjoyed a Christmas party at the Grand Hotel, Gosforth Park. 16 people went to Nidd Hall in Harrogate for a 2 night break. The groups also enjoyed 10 pin bowling with fish and chips. People attended the walking, film and gourmet clubs.
We are extremely grateful to North Tyneside Council for their continued support of the contract and to funders which this year included Hadrian Trust, Bernard Sunley Foundation, Cloth workers and Co-op. Our investments were stable throughout the year. Maintenance work was started on the gutters and fascia’s at Pearey House and the roof of the flats were cleaned.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was incorporated as a Charitable Incorporated Organisation (CIO) as Pearey House Day Centre for Visually Impaired on 19[th] January 2015 and took over the assets and liabilities of the Tynemouth Blind Welfare Society (registered charity number 223996) on that date.
The CIO is set up under a constitution which sets out the objectives and purposes of the charity.
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PEAREY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Membership
The members of the CIO shall be its charity trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else.
Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO.
Trustees
The CIO must have at least three trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee.
Apart from the first charity trustee, who appointed for terms of varying lengths, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Nominated trustees
North Tyneside Council (“the appointing body”) may appoint four charity trustees. Any appointment must be made at a meeting held according to the ordinary practice of the appointing body and each appointment must be for a term of three years.
A trustee appointed by the appointing body has the same duty as the other charity trustees to act in the way he or she decided in good faith would be most likely to further the purposes of the CIO.
If the CIO is wound up, each member of the CIO is liable to contribute to the assets of the CIO such amount (but not more than £1) as may be required for the payment of the debts and liabilities of the CIO contracted before that person ceases to be a member, for the payment of the costs, charges and expenses of winding up, and for adjustment of the rights of contributing members among themselves.
The members of the CIO have no liability to contribute to its assets if it is wound up, and accordingly have no personal responsibility for the settlement of its debts and liabilities beyond the amount they are liable to contribute.
FINANCIAL REVIEW
Financial position
Incoming resources in the year were £363,933 of this £27,135 related to project restricted activities.
There was a surplus of £85,073 in the year. At 31 March 2025 total reserves were £243,404 which represented unrestricted funds.
Pearey House Centre for visually impaired reserves policy
This reserves policy explains to existing and potential funders, donors, beneficiaries and other stakeholders why we are holding a particular number of reserves. It gives confidence to stakeholders that our finances are being properly managed and will also provide an indicator of future funding needs and our resilience.
Once a reserves policy is a living document, so describes the process we will follow in creating it. The amount held in reserves will be monitored during the course of the year as part of our budgetary process and financial monitoring.
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PEAREY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Reserves policy
Are that part of our unrestricted funds that is freely available to spend on any of our purposes. The items excluded from reserves are:
-
tangible fixed assets used to carry out the charity’s activities, such as land and buildings.
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programme-related investments those held solely to further the charity’s purposes.
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designated funds set aside to meet essential future spending, such as funding a project that could not be met from future income.
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commitments that have not been provided for as a liability in the accounts.
Restricted Funds.
Fall outside the definition of reserves, but the nature and amount of such funds may impact on a charity’s reserves policy. Where significant amounts are held as restricted funds the nature of the restriction should be considered, as such funds may reduce the need for reserves in particular areas of the charity’s work.
Monitoring of Reserves
We will keep our reserves policy and the level of reserves held under review, monitor the level of reserves held throughout the year to establish the reason for any significant difference with the target level set. If reserves during the year are below target or exceed target, we will consider whether this is due to a shortterm situation or a longer-term issue, and take any appropriate action.
Annual Reporting
We will include in our annual report our policy on reserves, stating the level of reserves held and why these are held. If material funds have been designated, the reserves policy statement will quantify and explain the purposes of these designations and, where set aside for future expenditure, the likely timing of the expenditure.
We will ensure that our reporting of our reserves policy meets the requirements of the Charities Statement of Recommended Practice (SORP) (FRS 102) and the requirements of the Regulations .
Investing Reserves
When significant resources are held in reserves from year to year, the trustees should consider whether some or all of the reserves can be invested to obtain a financial return for the charity. In making the investment decision, the trustees should consider when the reserves might be needed and the acceptable level of investment risk.
Levels of Reserves
Our target level of reserves may be expressed as a target figure or a target range and will be informed by:
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Our forecasts for levels of income for the current and future years, taking into account the reliability of each source of income and the prospects for developing new income sources
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Our forecasts for expenditure for the current and future years on the basis of planned activity
This policy will be reviewed by the Board annually, as part of our financial planning cycle.
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PEAREY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
| Version No |
Approved By | Approval Date | Main Changes | Review Period |
|
|---|---|---|---|---|---|
| 1.0 | Board | July 25 | Initial draft approved |
Annually | |
Developing Our Policy
There is no single method or approach to setting a reserves policy and the right approach depends on the size, complexity of activities, legal structure and the nature of funds received and held by our charity. The process we use involves:
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Consideration of the nature of the funds received and held by the charity.
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Are the funds unrestricted or restricted income?
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The risk of an unforeseen expenditure eg an unexpected large bill.
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Covering unforeseen day to day operational costs eg temporary staff.
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A source of income not been renewed ie NTC grant.
Including future budgets and future projects or spending plans that cannot be met from the income of a single year, and uncertainties we may face in the future, such as the need to hold some reserves to meet an unexpected call on funds or opportunities that may present themselves.
We will use the above process to identify why reserves might need to be held and to decide the amount of reserves needed to operate effectively. We use the Charity Commission guidance on reserves.
Trustees responsibilities
The Charities Act 2011 requires the trustees to keep proper books of account with respect of the affairs of the CIO, and to prepare statements of account for each accounting year consisting of a Receipts and Payments Account and a Statement of Assets & Liabilities. The trustees are also responsible for safeguarding the charity’s assets, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.
In preparing the accounts the trustees are expected to:
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Follow the recommendations of the Charity Commission and of the accounting profession with regard to form and content of the accounts or to disclose and explain any departures therefrom; and
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Consider the charity commission’s guidance on public benefit.
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PEAREY HOUSE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1160007
Address
Preston Park North Shields Tyne & Wear NE29 9JR
Trustees
Mr T Crane Chair Mrs C Wandless Treasurer Mrs J Thew Mr K Graham Mr A Wigmore Fiona Nicholson
Manager
Mrs H C Farrow
Independent Examiner
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
Approved by order of the board of trustees on 9 July 2025 and signed on its behalf by:
Mrs. C Wandless - Treasurer
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEAREY HOUSE
Independent examiner's report to the trustees of Pearey House
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 March 2025.
Respective responsibilities of the executive committee and examiner
As the charity's trustees of the CIO you are responsible for the preparation of the accounts. The Charity’s Executive Committee considers that an audit is not required for the year (under Section 144 (2) of the Charities Act 2011) (“the 2011 Act”) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General directions given by the Charity Commissioners (under section 145(5)(b) of the Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
I have examined the accounts in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the CIO and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as the committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives us reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Nicholas Liley, FCA The Institute of Chartered Accountants in England and Wales Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
Date: 14 July 2025
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PEAREY HOUSE Receipts and Payments Account Year Ended 31 March 2025
| Receipts Social Sales & Services Rental Income Investment Income Donations Fetes & Fayres Contract Income Legacies Payments Social & Services Property Expenses Vehicle Expenses General Expenses Net Receipts Fixed Assets Acquired Capital Transactions Surplus/(Deficit) for the Year Transfer towards minibus purchase Opening Funds Closing Funds |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2025 2024 £ £ £ £ £ 46,677 - - 46,677 51,613 1,184 - - 1,184 1,536 77,972 - - 77,972 74,102 18,911 - - 18,911 18,168 18,022 11,135 - 29,157 15,871 6,939 - - 6,939 2,352 27,975 16,000 - 43,975 37,732 139,118 - - 139,118 5,736 |
|---|---|
| 336,798 27,135 - 363,933 207,110 |
|
| 72,648 - - 72,648 33,619 171,857 - - 171,857 156,381 2,867 3,698 - 6,565 8,255 2,458 - - 2,458 3,563 |
|
| 249,830 3,698 - 253,528 201,818 |
|
| 86,968 23,437 - 110,405 5,292 (25,332) - - (25,332) (25,332) - - - - 26,237 |
|
| 61,636 23,437 - 85,073 6,197 |
|
| 27,371 (27,371) - - 154,397 3,934 - 158,331 152,134 |
|
| 243,404 - - 243,404 158,331 |
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PEAREY HOUSE Statement of Assets and Liabilities As at 31 March 2025
| Unrestricted | Restricted | Designated | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| Cash Funds | |||||
| Co-operative Account | 50,054 | 27,371 | - | 77,425 | 64,778 |
| Hampshire Building Society | 20,000 | - | - | 20,000 | 20,000 |
| United Trust | 60,000 | - | - | 60,000 | 62,583 |
| Monmouthshire BS | 85,960 | - | - | 85,960 | 10,846 |
| Cash in Hand | 19 | - | - | 19 | 124 |
| 216,033 | 27,371 | - | 243,404 | 158,331 | |
| Investment Assets | |||||
| Shareholdings (Value) | 435,902 | - | - | 435,902 | 404,188 |
| 435,902 | - | - | 435,902 | 404,188 | |
| Assets Retained for Charity Use | |||||
| Flats | 349,179 | - | - | 349,179 | 349,179 |
| Pearey House | 5,000 | - | - | 5,000 | 5,000 |
| Garage | 639 | - | - | 639 | 639 |
| Heating System | 21,906 | - | - | 21,906 | 21,906 |
| Conservatory | 66,000 | - | - | 66,000 | 66,000 |
| 1 Osborne Gardens | 193,186 | - | - | 193,186 | 193,186 |
| Fixtures and Fittings | 17,126 | - | - | 17,126 | 17,126 |
| Motor Vehicles | 61,864 | - | - | 61,864 | 36,532 |
| Plant and Machinery | 35,668 | - | - | 35,668 | 35,668 |
| 750,568 | - | - | 750,568 | 725,236 | |
| Liabilities | |||||
| Building Fund | 73,328 | - | - | 73,328 | 73,328 |
| 73,328 | - | - | 73,328 | 73,328 |
Signed on Behalf of the Committee by:
Mrs C Wandless - Treasurer
9 July 2025
Date
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PEAREY HOUSE
Notes to the Financial Statements Year Ended 31 March 2025
1) Restricted Funds
| ed Funds | |
|---|---|
| Minibus Fund New Minibus Fund |
Opening Incoming Resources Closing Balance Resources Expended Transfers Balance £ £ £ £ - 3,698 3,698 - 3,934 23,437 - (27,371) - |
| 3,934 27,135 3,698 (27,371) - |
Purpose of each fund
Donations received into the minibus fund were in respect of motor vehicle expenses and have been expended accordingly.
The new minibus fund represents donations and grants received and monies from fundraising events to raise money to purchase a new minibus.
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