Charity registration number.. 1164096 The Core Annual Report and Flnancial Statements for the Year Ended 31 March 2024 WESTCOTTS e￿A￿TERIo ACCOUNTAMr# 4 gU$IME55 ADVISqHS The Core Contents (continued) Trustees. Report 2to3 Independent Examinerfs Report ststement of Financial Activities Balance Sheet Notes lo the Financial Slalemènts 71014 The Core Reforenc• and Administrative Details Trustèes Mr B Austin Mr M Northfield Ms K D Dickson 1164096 Charty Regiltrntion Numb8r Prlnclpil Offlce Comwall College Site Church Road S8Ka8h Comwall PL12 4AE Indep•ndent Ex8mlner Weslcotts ISW) LLP Plym House 3 Longbridge Road Marsh Mi118 Plymouth PL6 8LT Page 1 The Core Trustees. Report The trustees present the annual report together with the financial stalemenl8 of the charity for the year ended 31 March 2024. Objectivgs and Activitios. The Core youth & Community CenlTe, continues lo provide 8tru¢tured 8nd open accoss youth projects delivered by a 10om of dedicated part-time staff. sessional workers & volunteers. We aim to provide PQs11ive aGlivilies and professional youth work for the young people of Saltash aged 12 10 18 with opportunities and activities cenlred within thè Core's pernanenl facilities. Thg centre continues to financially support it's restricted youthwork funtJing by the hire of facilitie8 to a wide variety of local community groups, cl8sse8 and organi8ation8. Investment in our young peopb, team and facilities has continued lo go from strength lo strength in this financial year with th8 SUPPOrt of funders and our local Community. We are rapidly approaching our 10th year 88 a eharily and have grown far beyond our original objectives and expeclalion8. This year we have been proaclwe In reevaluating our objectwes as a result of les8on8 leaml during the challenging post pandemlc recovery time. We are a¢1￿& In seeking 81r8tegie8 to future proof the charty and the p08itive work that il ¢Jelivers. Achlevements and Perfomiance We continue lo focu8 on the buildSng of seif-confidence and 8elf-esl6em of young people by empowering thom lo have a positive impact in the community. 11 is leslamenl lo the reputation of The Core that we consislenlly attract in excess of 250 young peop￿ regularly allending sessions throughout the ye8r and 8CC888ing our youth work provision. Our young people conttnue to be actively Involved in community initiatives Such as the Sallash Youth Network and even18 such as Sallash May Fair in which they a8818t in running the Youth Village. Each y8ar our 'apprentice' position is easily filled by a young person who has turned 16 and wishes to continue their active parti¢ipalion with the project and gain exp8ri•n¢e and Skills for their future and employability. This y¢ar hos s¢on us exlend our engagernenl wf(hin the youth community with local schDoIs 8nd educational 8UPPOrt. Four work experienc& students came lo th8 project in July and spgnt a week with us allgnding community netsvorking $o8$ion$ such as the Safer Saltash Group and a Q&A session wilh our Trustees. The initial trial of an Al8rnative Provision projeel18d by the Groundworks project, o hire office space within the cent￿, was a success. The trial look pl8¢e over one academic term with fwe 5tudenl$ excluded from gehools in Sallash and Callinglon. The students attended sessions in English, M8ths, CV and job application preparation. 5rfe skllls such as meal prepar81ion and aclivo health focussed wellbeing. The Irgil a success and a longer 18-monlh Ifial wll commence in early 2024. Our maturing and ever-growing g8rdon is a much-ulilised 8re8 of the facblitles, it is available for u¥e by our hirers with rt's own dedicated ar8a for our youth groups. This comer of the garden complete with covered are8 was compl8ted this year by the addition of 8 fir• pil for chillier evenings. Vegetable beds have produced ingredien18 for our ever-popular Grub Club who continue to host end of term afternoon teas. The highlight being five pumpkins transformed into a delicious soup served al our Christmas 8fternoon lea attended by invited ext¢mal stakeholders including the Mayor of Sallash and local councillorg. Summer youth activitie5 We￿ as popular as always wllh subsidised visrts lo local attraction5 such as Adrenaline Quarry, Tamar Trails and Woodlands plus weekly in house activi(ie8 al The Core. These aclivf(ie5 are a￿ayS oversubscribed and this year was no exception wrth a lolal of 135 young people attending. Our team of staff, sessional workers and volunteers a￿ committed to the project and it is 18$tsmgnl to their dedication and hard work that this year we have been recognised and commended by organisalions such as Comwall Communty Foundation, 'Posilive Change for One and All,. 8 highly eornmended certrfieatlon from the Eden Project's Coronation Communities and we achieved The Surfers against Sewage Plastic free Champion award. Page 2 The Core Trustees. Report {continuod) Funding & Investment. We continug to be supported by our funders despite the difficult financial landscape. Financial support awarded by Sallash Town Council for the delivery of professional youth work, grants facililaled by Cornwall Community Foundation and awards from fvnding such as the Heakh Improvement fund have allowed us to continue our youth work, project activities and support services. Our eVer-inC￿a8[ng overheads coupled with a continuing cost of Imng cri8is have made this period parti¢ularfy un¢ertaln. Despite the fi'nancial challenges we have continued lo invest in our facilities and people. 11 should be noted that Increasing overheads have resulted in us, reluctanlty, having lo raise the hire prices for The Core's facilrties. A difficuk decision as we are aw8re that th8 communrty using our facilitie¥ ar¢ 81$0 facing economic challenges. Despite the in¢reases we did not lose any of our hirers and this is down to the deserved reputalion that we have within our kjcal community. Group 8clivilies, classes, and clubs of all ages enable us lo remain a busy flourishing community Centre which is pLgnning and daveloping prwects. Investment has beon mode in our main hall by replacing all the floor crash mats integral lo the use ol our climblng wall facilities. In line with our commitments to community and the environment the old m8ls were donated lo a children's project in Ukraine. The new mal8 were christened in September wrth a fundraiser organi5ed in conjunction wrth a local group who raise money for MND. A Three Peaks Challenge was issued and for four hour8 all ages ancl abilities climbed over 3000m continuously including four of our local fire 8eNice who climbed in their lire fighting gear, The Managèment Commrtlee and Trustees of The Core recognise that investment in our team is critical lo the succes8 of the project. We have selected and appointed a HR eonsuKant to 8alegu8rd our teams employmanl rights. We have provided training Such as Food Hygiene and First Aid. Soci81 galh8rings with a summer BBQ and Christmas party for staff members and volunteers. We also committed to achieving the financi81 resources lo award a cost of living pay rise to our team. The Core h05 recently invested in the transport and 8it1ng of a donated port8cabin that will be the home of a new self-fvnded Community Shed project opening later in 2024. Modelled on the 'Man Shed, concept the portacabin will be Iransfomied into an equipped work shed giving the opportunity for inleigeneralional skill 6h8ring and comMun￿Y well-being, further developing The Core's facilit￿S lo new community demographic. Whilst our positive imp8ci and reputation Gonlinues to expand within the local community, we are commSlled to maintsining the qu81ity of the services and experioncè we deliver lo Sallash's young pgople and our extended communty. We would not be able to achieve this without the continuing SUPPOrt of our funders, lo￿1 authority and 'Frfend8 of The Core,, We understand thot tho UK, continuing financial crisis will havo a significant impact on Comwall in particular, valu8 for money and Services will become increasingly important. Therefore, doing what we do well will continue to be our USP and the qualty of The Core team and community will moke that goal achievable. The annual report wa¥ approved by the trustees of the charity on l £?. Iql..Fand signed on ils behalf by.. Mr B Austin Trustee Page 3 The Core Independont Examinarfs Report to the trustees of Tho Core I report lo the trustee8 on my examination of the accounts of The Core for the year ended 31 March 2024. Responolbllltl88 and ba818 of rnport As the charity Iruslees of The Core you are responsible for the preparation of the account$ In accordance with the rgquiremenls of the Charities Act 2011 I'lhe Acl'l. I report in respect of my éxamination of the The Core's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed a15 the applicable Directions given by the Charity Commission und8r section 14515llbl of the Act. Ind•p•nd•nt •urnln•rf• 8tat•m•nt I havè completed my examination. I confim that no material matters have come lo my attent￿n in connectlon with the examinalKJn giving me cause to bèligve that in any material re5pecl'. accounting records were not kept in respect of The Core as required by Bection 130 of tha A¢t', or 2. the accounts do not accord with those records., or 3. the accounts do not compty with the accounting requiremen18 concerning the form and content of accounts sel out in the Charf(ies IAecoun18 and Reports) Regulations 2008 other than any quiremenl th81 the accounts give a 'lrue and falr view whl¢h is not a matter wn$ldered a8 part of an independent examination. I have no concern8 and have coma across no other matters In connectlon with the examlnallon to which attention should be drawn in this report in order to enabb 8 proper understanding of the accounts to be reached. Matthew Keane AC Weslcotts ISWI LLP Ptym House 3 Longbridge Road Marsh Mills Ptymouth PL6 8LT Dale.. .i..o..1...9.1.2.4.. Page 4 Tho Core Statoment of Financial Activiti98 for the Year Ended 31 March 2024 Unre8tri¢tod lund8 Re5trlcted funds Total 2024 Total 2023 Note Incomg and Endowments from: Donations and legacie5 Charitable activilies Othèr income 1.837 22.054 32.703 57.490 59,327 22,054 32,703 51,426 21,054 25,290 Total income 57,490 114,084 Expondlturo on: Charilobl¢ act￿ltieS 53,881 61.230 115.111 93.808 Total oxp6nditure 53,881 61.230 115,111 93.808 Net incomellexpgnditurel Net movement in fund5 3,740 1,027 3,962 2,713 13.7401 11,027} 3,962 R•conclllatlon of fund• Total funds brought fO￿ard Tot81 fund8 C8rried forward 13 54,185 27,499 81,684 77,722 56 898 23,759 81,684 All of th8 chafity'8 activities derive from Gontinuing operations during the above p•riods. The funds breakdown for 2023 18 shown in note 13. The notes on pages 7 to 14 fom an Integral part ol these financial slatemenl8. Page 5 The Cor• (Registration number: 1164096) Balance Sheet as at 31 March 2024 2024 2023 Flxed assets Tangible assets 10 8,926 10,408 Current assets Debtors Cash at bank and in hand 2,776 73,850 78.626 2,854 73,577 76,431 Credltorn: Amounts falllng duo wlthln on• y8•r Not ¢urrent as•ets 12 4,895 5.155 71.731 71,276 N•t •￿018 80.657 81,684 Fund• of th• ¢harlty: Re8trl¢t¢d In¢ome fund• Re$lrl¢led fvn¢J6 23,759 27.501 Unrestrfcted income fund8 Vnre61ricted funds 56,898 80,657 54,183 81,684 Total funds 13 The financial slalemenls on pages 5 10 14 were approved by the trustees, and aulhori8ed for rnsue on I,oJ.9.1.2I., and signed on their behalf by.. Mr Tru51e8 The notes on pages 7 to 14 fomi an integral part of these financial $tatemenl8. Page 6 The Core Notes to the Financial Statements for the Year Ended 31 ljjarch 2024 1 Accountlng pollcies Statoment of complianco The financial statements have been prepared in accordance with the second edition of the Chgritigs Sl8temenl of Recommanded Practice issued in October 2019, the Financial Reporting Standard opplicable in the United Kingdom and Republic of Ireland IFRS 10218nd thè Ch8rilies Act 2011. 8a519 of preparatlon The Core meets the definition Df a public benefit entity under FRS 102. The accounts Itinancial stslemenlsl have been prepared undef the hisloiical cost convention with items recognised al cost or transaction value unless olheMis8 slated in the relevant nolelsl lo Ihe8e accounts. Golng concern The trustees consider that there ar8 no material uncertaintie8 81)oul the charlty's abllily to continua as going con¢¢rn. Judgoments The prep8ration of the financial slalernenls requires management lo make judgemen18, è51irnales and assumptions that affect the amounts reported, Th868 eslimales and judgements are conlinually reviewed and are based on experience and other factors, including expeclalion8 of fulure events that are believed lo be reasonab￿ under the circumstance8. Incomg and endowments All incoming r$xJurGe$ ore Includ￿ in the 8tatoment of financial aclivili8s when 8ntillemenl h88 P05sod lo the charity., il is probabl? that the economic bgnefils associated wrth the transaction will flow lo the ch8rily and the amount can be reliably measured. The following specific policies are applied lo P8rticular categories of income.. income from donalvjns or grants is rgcognised when thore 1$ •vid8nc• of enlltlamenl to the. gift, receipt is probable and its amount can be measured reliably. legacy income is recogni8ed when receipt 18 probable and entillemenl is establi8hed. income from donated good8 is measured al the fair value of the goods unlgS5 this 15 impractiC8110 measure reliably, in which case Ihe value is derived from the cost lo the donor or the 85timated resale Value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of gEneral volunteers, income from contracts for the supply of 58rvice8 18 recognised with the dellvery of the contracted service. Thi8 18 classified as unreslricled fund8 unless there is a conlraclual requirement for il lo be spent on a particuLgr purpose and returned if unspent, in which case il may be regarded as restricted. Page 7 The Core Notes to tha Financial Statements for the Year Ended 31 March 2024 (contlnued) Exp&ndltur• Expenditure is recognised on an accruals basis as a liability 1$ in¢urr¢d. Expendiiure include8 any VAT which cannot be fully recovered, and is classified under headings of the stslemenl of financial activitk?S to which it relates.. expendrture on raising funds includes the costs of all fundraising aclIMI￿s, events, non