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
2
**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
3
**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:
4
**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.
5
**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|
6
**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**
7
**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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