2024-03-31-accounts

Charity Registration No. 1161236

Sherburn Hill Community Hub Unaudited Financial Statements For the period ending 31st March 2024

Sherburn Hill Community Hub For the period ending 31st March 2024

Legal and administrative information

Trustees K Poulton A Scott W Martin S Hayton D Hall Charity number 1161236 Registered office 30 Church Vale High Pittington Durham DH6 1AH Trading Address Sherburn Hill Community Hub Front Street Sherburn Hill Durham DH6 1PA

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Sherburn Hill Community Hub For the period ending 31st March 2024

Contents

Trustees report - 4

Statement of financial activities - 5

Balance sheet - 6

Notes to the financial statements - 8

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Sherburn Hill Community Hub For the period ending 31st March 2024

Trustees report

Trustees report attached separately

Trustees

K Poulton

A Scott W Martin S Hayton D Hall

The trustees’ report was approved by the Board of Trustees:

Signed:

Trustee: Date:

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Sherburn Hill Community Hub For the period ending 31st March 2024

Statement of financial activities

Income and expenditure account

Notes Income from: Donations 2 Charitable activities 3 Total Income Expenditure on: Charitable activities 4 Total resources expended Net income for year/ Net movement in funds Fund balances at start of year Fund balances at end of year	2024 £ 3,258 206,338 209,596 224,829 224,829 (15,233) 136,897 121,664	2023 £ 1,524 142,124
		143,648
		116,755
		116,755
		26,893 110,004
		136,897

The statement of financial activities includes activities all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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Sherburn Hill Community Hub For the period ending 31st March 2024

Balance Sheet

Notes Fixed assets Tangible fixed assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets Income funds Retained funding Surplus/(Deficit)	2024 £ 3,417 69,025	£ 50,508 71,156	2023 £ 3,186 89,617	£ 50,617 86,280
	72,442 (1,286)		92,803 (6,523)
		121,664 -		136,897 -
		121,664		136,897
		136,897 (15,233)		110,004 26,893
		121,664		136,897

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Sherburn Hill Community Hub

For the period ending 31st March 2024

Balance Sheet (continued)

The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company’s regime.

The financial statements were approved by the Trustees on .........................

.............................

Trustee:

Chairty No. 1161236

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Sherburn Hill Community Hub For the period ending 31st March 2024

Notes to the financial statements

1 Accounting policies

Company information

Sherburn Hill Community Hub is a Charity Incorporated Organisation incorporated in England and Wales. The registered office is 30 Church Vale, High Pittington, Durham, DH6 1AH. The trading address is Sherburn Hill Community Hub, Front Street, Sherburn Hill, DH6 1PA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

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Sherburn Hill Community Hub For the period ending 31st March 2024

Notes to the financial statements (continued)

1.4 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% reducing balance Outdoor Equipment 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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Sherburn Hill Community Hub For the period ending 31st March 2024

Notes to the financial statements (continued)

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

The charity is exempt from corporation tax on its charitable activities.

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Sherburn Hill Community Hub

For the period ending 31st March 2024

Notes to the financial statements (continued)

2 Donations and Legacies

Donations	2024 £ 3,258 3,258	2023 £ 1,524
		1,524

3 Charitable activities: Income

Bingo Room Hire Café Catering Income Café Sales Event Income Grants Received Fundraising Raffle Management income Other Income	1,046 47,834 3,640 45,124 1,464 97,864 262 41 8,008 1,056 206,338	2023 £ 63 45,843 1,336 26,467 - 65,643 - - - 2,772 142,124

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Sherburn Hill Community Hub For the period ending 31st March 2024

Notes to the financial statements (continued)

4 Charitable activities: Expenses

Accountancy Advertising Cleaning Computer Costs Depreciation Events General Maintenance Grounds Maintenance HR Services Insurances Legal and Professional Fees Licensing Office and Admin Expenses Pension Printing, Postage and Stationery Purchases Raising Funds Recruitment Repairs and Renewals Software Subscriptions Sundries Telephone Training Uniform Utilities Wages Waste	Charitable Activities 2024 £ 2,436 2,653 2,399 619 16,703 884 38,560 1,115 2,249 1,452 320 384 5,459 1,113 90 31,916 333 - 250 - 173 397 114 133 138 32,049 82,374 515 224,829	Charitable Activities 2023 £ 1,056 563 5,327 2,260 14,787 - 12,493 312 2,950 1,330 1,332 162 642 495 212 17,160 660 68 9,892 60 301 752 65 224 - 3,024 48,788 1,850
		116,755

5 Employees

Average number of employees: 2024: 6 2023: 7

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Sherburn Hill Community Hub For the period ending 31st March 2024

Notes to the financial statements (continued)

6 Tangible Assets

Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charged during year At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023	Outdoor Equipment £ - 1,596 1,596 - 299 299 897 -	Fixtures & Fittings £ 79,651 14,999 94,650 29,034 16,404 45,438 49,211 50,617	Total £ 79,651 16,594
			96,245
			29,034 16,703
			45,737
			50,508
			50,617

7 Debtors

Amounts due within 1 year Trade debtors	2024 £ 3,417 3,417	2023 £ 3,186
		3,186

8 Creditors: amounts falling due within 1 year

Amounts due within 1 year Trade creditors Other creditors Other taxation and social security	2024 £ - 849 436 1,285	2023 £ 2,379 859 3,285
		6,523

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