Charity reghtralkbn number 1165434 Company reglslratlon nurnbor 06373460 IEngland and Wal•sl THE HEART OF THE CITY PARTNERSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE HEART OF THE CITY PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Tntst•g8 Mr GM Black MF J Grunty Mr P WLy)d Mr E Jubb Ot RM Pears Reverend P Dobson Miss E Mrobert Miss K Mountain Ms M Wlliams Mr lan Ayns MrAdam Serfotn (Appointed 22 March 20231 {inted 21 June 20231 Charlty number 1165434 Company number 373460 Regl8t•rod offlc• Feinwrx)d Hi)usa FernW) Road Je$mj Ne03t$a L¢on Tyne Unrted Kingd(Mn NE2 1TJ Auditor Rob Laijerknountants LIed Jesm{d N*¥caslle w)on Tyne Tyne IAÈ¥ ErylaThJ NE2 1TJ Bank•rs Hale$banke Ead Grey Fknuse 75-85 Grey Sireet Nale Tyno NE2 1TJ Virgin meY 5 Cattle Mark Hetham NE46 1 NJ
THE HEART OF THE CITY PARTNERSHIP CONTENTS Page TTUStees' rewt IrKJeperNJent aLKJiloT'5 reFh)rt 10-12 Stslement of finarKK41 activrt*s 13.14 Balan¢0 shaft 15 Notes lo the financkgl statements 18-23
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees. are also directors of dwnty ts tre kxKp)ses of the Companies AL# 2006, preseni thar report with the finclaI slalemenls of ihe charity for the yeaf ernled 31 December 2023. The trustees have adcw Ihe syovtsMS ofAc£wnting •J Reporting ty Charities.. Stalemenl of RecommeTrJed Practice applicable to charities prepar¢ng thr accounts in accrAdte v411h Ihe Financigl Repting Standard 8pplicable In the UK and RebI ol Irdand IFRS 1021 leffeckn"¥e 1 jUary 20151. ObJ¢ctive$ and activities The charity aims to Pfomole a¢fvancement of edLthiion and learning in relation to the history and heritage of the area around Newcastle Calhedfal. In partscular Ne4CaStte Casye. in Nèwcastle Upon Tyne. In addition, il seeks lo promote the advancemenl of culture and heritage by the erent of the )¢ communty, arKI v15ilors lo the City, io appreaale enjoy the histwi and fatC of Ise builth"ThJs. It endeavours to preserye protect Newcastle Castle as a btjildry ol historic interest and puuic Thnportance and speu"ficaMy the (>ad8 1 Listed Builthngs and Sduled Anc1 McThJments known 8S t Gate arnl Casts Ke8P. Background lo Current Acfjvities The Heart ol the City Partnership IHOCP} leases NeKasUe Castle from NevrasUe CFty Counctl at a pepper¢ rent and operates the henlage asset as a predominantly paNJ-lor visitor attracti By followng a 4-year rolling stfalegic plan. financial wot¢xols and stn.ct bu($3et management safeguarding the ftrtwe of Noweaslle Castle is bèsl aGhieved through enSurg the txjiktrngs remain in use aThl th"r spjnificance. cultural arKI wdar c(xnmèreial kneffts foi the city are urnr3tlKJ and appiecialeo by the Fxjblic as well as ioeal businesses. In 2023, Newcastle Castle offered itself prpallY as a paid-fof V¢t attrathon. open 7 days per weèk between Apnl and Octor and 5 days outsKle of these Opening IM)urs were r¥)rmaUy 10arn to 5pm and in any given year full closure of the attraction on a norma opening day is onty pem)itted a rnaximum 0110 days through the year this being lo laalitate all4ay venue hif¢S e.g. Ve(IL"rvJs. as they bul balar U putAic benefit derived from beiro open as a place to visil. Newcastle Caslle is aware Ihal &Jmi5sion tees can exckth peo vith low disposable oMeS and is keen to ensure access lo this heTrtage asset is pOte aW. Our admiswon chargirrtJ Structure lows dBEcAJnts for certain pnorilies e.g. nag, families. disat4ed. sefit atszens, amd foices, NHS ètc... Admission fees are benchmarked against similar attractr'ons in the regitin. COVfrD-19 Impact Due 10 the Coronavirus COVID-19 pandem. HOCP temporarily closed Newcastle Castle opwatsons pnor lo lockdown 10. Newcasue Casle re.opened lo Ihe 24th JY 2020. A reasc)aEYe rale rf customer felurn was experience(I vergus eXpert8n howèver numbers were significantty down on 2019. Newcaslle Castle has. since then, been operating on a pre-COVID tjasis wilh free-flw Visit expt)ration rein51ated and w8lk-In admissions being encouraged During 2022 hp increased our cpeniry hcwrs from that of 2021, 8ThJ tn 21123 we increased Itss lurther mo¥ing to 7 day per week oFeraliMs Irixn Awl- OOber. Our cww)t funding locus is on generating w¢)Jecl-spe(xfic grant funthro lor cornmunity stcrytelling lo enhance the viwior eXperIee and trA)Islw value for mLMey and enp3ement whilsl a longef-lerm funding plan Is being drawn Icpjelher. This is imprnI to fijlhef resi1e Inlo HCP and operatic$ through ow Tolling 4-Year Strat8gic Plan.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Statistical Highlights Average of 22 51aff members 15 vclunleers regularty deliveriNJ educat#Thl worksh4)s and free lamily actNits 10 r&enactment vdLtnteer$ 13 schoc4 Irk placements A¥wage of 40 volunteers 8 volun1S helFNng deliver events 16 SteI w)r plaMentS 129 schoc48 using ollsile educational PYDvision 73 kxlpils with special educats.onal needs arvj disabilities attendin9 43% 01 S5 worked with in lop X)% mofe dewNed areas in UK Id8ale8 1, 2 831 19 talks and leclufes 9 wcwkslmws. tratre or music 26% Increase in events income 4293 school pupils taking part in e(kKal1 wotkshops and tours 21 wlreach Visits engagin9 935 Sctr1 pupls 103 oul-of-hours events 3 medieval lavefn nights 44 walkiThJ tours from Medieval NwKastle to Twilight Castle Tours 27.4% creaSe in payirKJ vistr ajmissions numbers against 2022 Visitor numbers recovered post-COWD and reflecting 4% increase on 2019 Vi%1 numbers E-newsletter subscriber gr¢r of 24.2% since Dec 2022 36023 paying y110r ajmissions Opn lo visitors for 314 days versus 296 in 2022 21 e-rwslettefS sent out wlh average open rale of 43.S% and clKk-throu9h rateof 137% . 13300 Facebc)k trne$S p4e folk)wer8 654°h increase on 2022 website unique vitOr number5 4503 x.com (Fomwrty Twittwl subscn'bers 596 TikTok fiSlowers 10702 Google My Business 1x.neSS listir#J interactions 4.5 stars t of 5 on Goog 4402 Instagr followers 405 kn.nkln followers 2741 Goo reM8ws si9 2015 6th out of 857 Th"ngs to Do In Nebvcastle on Tnpadvisor . 1ty)7 Tnpath"8or revièws 4 5 out of 5 on Tripadwsor stOMer ratsr#Js 91% 01 reviewers M Tnpalfvisor would recommend us Prfnclpal Souices of Fundlng HOCP'S principal sources of funding are admissi fee$ and Gift " Ah)r¥Js1de this venue hire and out of hours events generate &litional Income. re approwate, non-primary trading sources of income 98nerate revenu¢ that 1$ used In future t)udget years lo offset Ihe costs of delivering primary purpose lLJnctiS such as i)ur educatK)n and outreach programmes. as well as investing In slaff and unproving wsitor offef and experience Beeen 2016 and 2019 HOCP worked toward5 financ1 self-SLthaency 2019 saw HOCP generate a Small surplus, Dne year ahead of plan, which, when measured against prewou5 years ir)dicaled HOCP was on a path lo a stable self- suslairning operational nTrJdel, equally bolsiered by the sn(ran1 putAic benefrt from ils cole activities thrgh admissions, events. learrmng and Ixrtrea¢h The COVILk19 pandemic in 2020 and 2021 hil principal sources of funding hard. Over the last lew years. we have seen a steady recovery and the Tesults from 2023 are on par with 2019 with similar wsrtor lmissions numbers. educabon KrkIng to current operatKsnal capacity and generated income able 10 8USt8in operthons for 2023 wrth a small sufplus. Notsble Items from the Accounts HOCP ended 2023 wlh a sm1 yJrFAus and a reasonable cash balarKe. HOCP retaifd a decent level of unreserved fuTrls at the end 012023 and wrth wudenl and cauts.ous budget and strategy mèasures In pbce for 2024 HOCP remains posiljve regarding the opportunities for further grry*th Attrath"ng grant fuThJing lo strengthen and mainlain Ihal positi will be an areg of Icw for 2024 aTrJ beyL.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Our Staff & Volunteers HOCP currently has 22 staff mtErS. Staff rc4e$ cover w)ior management. supervisory managem8nl, evenl programming. maikebng. venue retal display and pur¢hasry. learnir¥J. Inform lèaming. ouireach, finance and Ironl•of-hwse The TrAht4e team is supt*¥ied by strorg adershiP through management who are in turn supported by the ly)ard of trijslees and a sufTrcommittee of the trtjard. the 8uwne5s Management Committee IBMCI. Stafl aro further supported by our team ol volunteers. Tr volteer-b8Se reduced In size ¢JuriryJ and after the COVID-19 pandemic however It has now retutned lo fijll Stn9th wlh 40 vdunteers helpng with things across Ihe spectrum of deliverables ¥cwnd 15 beFng very regulaty &b¥e. espeo.ally in thè delivery of educatson and event5. The vc4unteer5 were invdved in severa aspects of rumsng of the Castle includin9 delivering. Lèamlng - arrAJnd 15 vcAunleer$ camo in regulwty to dèh¥er lour$ lo sctrM)015. asslsl in work$p5 and carry wl FREE family activit. Events- We have a small po of ariyJ¥J 8 volunteers assisting the delivery of wr events program. Re-enactment- have a small gioJp ol aTound 10 volunleefs called the Newcastle Array who provide live hislorical inlelpretsli te at ts Casue Keep. Work Placements In 2022 we rèstarted the pr1r of taking on StLentS on work placements. In lotsl we had 16 StJents complete 8 wortt placemenl al New¢aslle Castle. Including 3 k)rvJ lem aceMentS fr( universrties. In 2023 we hosted a total of 13 Scho work placements ranging frryn one day per 7heek for a young Ferson from Educath)n and Swices lor PeOe wth Autism. mlIple one week school eMentS and 3 longer term uThv¢rty F4acements.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Publlc Benefft The Iruslees confifm that Ihey have referred to ihe Charity Ciynmiwn's guidwe putAic benefit wh8n rewawing the Tru#l's ams and obJ"ècts"ves and in planThryJ fulure xts"vibes. Referring to OUT obiectwes arvj activrtie5, athiewng and MataIrj IndepeThJenl financol suslaingbilily i8 CO to preserving arKJ PToleciing the buildg$ ¥Ye oprale Keeping the Lwiloings In the hearts and mind$ ol local communities and Ih¢)se from fijrther ar0 is a key er¥Jagemenl t•. Our formal IschooL8 and groups) edu&N)n rKoVi, infmal leamin9 loutreach eady-years provisionl and informal Iilelong leamillg linlerpretaliL¥). events. lks. leCtUS elcl is at the heart of delivering our aljlity lo preserve and piolecl Newcast Castle. by nurturing and loslenng urvJerstwKJin9 of tt b1th9 s hist(ital gnifi¢an¢e. as well as promoting the advancement of eullufe and heritsge. In 2023 we welcomed a tolal of 4293 pupi15 to the Castl8 as part of form edu¢ala group$, vèrsus 3667 2022. We have seen an increase in groups Coming just IN haw-day visrts this yeai. They account for 24% of all formal educaiional group8 Full-day visits account for 61Vo and self-guide4 15%. 329h of our educational w%lors are in Key Stage 1 (yea15 7 and 2 of so this is Still an area of focus. Ixjl thefe 1$ otherwise a fairfy even spread ol different age wps Vigts werè led by our leaming stsff and vdunteers. n9 our vlorkshops and resources, including the Harbottk Suite. We also saw an 1ncrease In schoc4s bookirrtj Outreach visits from Ihe Castle irnlo their elassr¢)oms. wlh 3 lolal of 21 Outreach ¥iwls Ixoked 2023. The Outreach Officer was also inlegral to the events prograrn. delivering further Medieval Newcast Walkirg Twrs we are continuiro and expanding In availability in 2024. In acldilion to Ihe primary offer. lo ensure that ose not enwJed acb.vdy in wsits.ng herilage attracbons are InclLsded and drawn into the fold. we normaHy offer a farrfJe of immersive. interactive exFeriences and events. such as film nigttts. talks. lectures. theatre show3 and 7•K)fkshops on carefully selected day3 and evenings These are usualty aimed at children, families and wjults arvj tOYfdrd5 attractiry arvj Involwng drffwenl audiences lo just the 'herilage conwmers In 2020 and 2021 tr¥"s income stream was lafgety dormant, In 2022 we recruted a part bme Events Programming Aswslant for 2 days Fer week to testart ¢r events program This events program brought in jLJSt over £33,000 in IrMe 2022. In 2023 we built C this success tuming ovef £4J.500.00 through Tavern Nights and Walking Tour5, talks. film nhts. theatre and olher events. Venue hire I prr¥ale hwe offers people a way to engage and Inlerxt wth Ihwr heritage wthilsl providlng an $drtk)naI inGome 51ream lo suppcrt the suslainabilrty of New¢aslle Caslle the delivery of the ¢harItab cl)jects. Some bookings which were due lo Pl In 2023, ere moved Into 2024 due to ccthnued Impact Covid -19 had on clients. finances Our retail offer prowded further edwBlpJnal resources (b$. toys et¢) lats'n9 to the Castse and rt¥ th're¢t surroundings. By having local supie15 and CTaftefs such as The Craty Bag, PhotL¥Jtaphy North ar Tum11 Up sdl Iheir yoducls Via the retail store. Newcaslk Castle invcAved Ial WrnlI$ and thsplayeij Iheir culture to locals and people from alar. alike. Equally. money made from the retsil offer stspported the overall sustainability of Newcastle Castje and the delNery of Ihe HOCP chariWJle (W. We continue to eXe avenues ol partnershp wn>rking NeaStIe Cathedral and some of the arS of current discussion include pint ticketi. closer cr05S-marketsng and streIl[*d booking 15elling. Staff resourryng and 8 joint learning offer
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and perfomHn¢• EngagirKJ with school groups Is a fvndamenlal part ol the w(Kk do at NeKasUe Castle In 2023 we engaged wlh a total of 129 schools, toialling 4.293 pupils 01 this. 73 wpils recorded as haviThJ special educats.onal needs and disabililies11 70hl. We klieve in ensuring that every irKItVKlual has $$ 1¢ the oller at Ne3st18 Castlt and were able to faulrtale pupils Y•lh SEND ac¢wdingly. We also •m engage wlh bxated n dewved areas, m 2023 approximately 43% of 8choc48 Ihgt worked wilh were in the top 30% more deprived areas in the UK (deci 1, 2. or 31 In 2023 we hosted 18 sludenl placements. aVer1j in educati(y)al level from Sr¥Y school lo tniversity degrees, to vocational qualificthons These ptments are deswned as a first slep towards th8 in(hvidu81's careei and differ depeIng course iequirements le.g. twnsm. herrtage. art and design). n 2023. we made thè decision lo move lo annual passes. taking a vK%rtor-kKused approach and enabling people, espeaally local people. greater ae£ess io the sile This has Increased wsrtor numbers but ha$ not had an impaGI c income generated as the nrtial tK4(et price includes free relum. In 2023 visitor numbefs Ipaying admissnts) iweased from 28279 in 2022 19 36023 representy.ng a 27.4% irKrea8e and a reium lo pre-COVID wgior admiss$( levels. 2019 fKJLres totslling at 34655. We opened our doors for 314 days. 86%, of 2023 as opposed to 296 days. 81% 012022. an Iwease of The inciease in visitor numbers vetsus the increase in days open clearty sws an excdlent boost to tr811 visltats.. The graphs below rfIu5trate Ihe abe figures. Visitor Numbers Feb •CUrrYe¥ •21)23 •1022 •20ll •2019
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING CHRECTORS, REPORT) ICONTINIJEDI FOR THE YEAR ENDED 31 DECEM8ER 2023 Visltor Numbers - 1023 xjii 2019 At fftè èrtd of Dèe 20T2 Ouf g•Mrnl ••new0et. is s•nl oui Ihrne wee#s. hay 3333 subscrlbefs. At thÈ end 91 2023 Ihe subsc¥)eT-ba5e hao lo 4140 This esentS afi organt of 24 V%. Genwally. Sub3ellbeF$ #rv•r Ic be person$ ar• his. N•wcasl• Castle. Ncasttè Casoè's t-01-rnk hours PTografflme of events, tslks. lectu rkn Iwls and tr Ske We Seni 21 g•wr•l +.neetlern an •¥wage op•n r•i• of43.WA 1 (ck.trW f of 13.7%. uniq wstors lo the bErta In 2023 IrKFgawl ty 854% from 21722 1 •AsthYs lotalkng 581.0( wlth 208.OC¥) pagENWS. up 31% on the ¢VIOuS yg¥f. 13.615 4.402 h'ii.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUEDI FOR THE YEAR ENDED J1 DECEAIBER 2023 Auoss year Joaal ftla eJagernenf ccrsi8twl 01 13.31JJ f fjcebook busw paoe ftIow8r8 lo ol hAI UIMJer 11Y)O fiom pti)r ygarl. 49)J X CL1 Ipr¥¥i(wly ",wiMer lollowersl. a fi5? of S3 on priLW yeai and 4402 In$tsgi&n loHowefs. J of $25 th) PfK¢r year. We also ouf iok Unkedln ac¢xnmts, 88¢h l)oMg ltslthving of lup 353 Lyb pi501 ygafl 1405 (vp 199 on prior yearl roWsvg1¥ Thig Is tne¢Ing we are looking lo ano uldise rne ¢nlo 2024. (Ilso Clinett to G(wlg My BuwJ tsh 23. In fvst quwter o1202A Iiad 10.71Yl Iw$m•$s mleTadi0Tr3 Iirfera¢o(ts Jro when pwbo cam. nssa9e. me bo(thln9s. fof d1[.( and rrK)ro fvotn yuui BurieS5 Piolile OTr G(ty} ha 2741 GD)gkn IOTl8ws an ovéia61 st¥ fabng of4 5 oul 015, Ounng Ihe lasl quartei 012023 wo appe4red kn 93,938 seaths I53,c our bUnesS wofle. We CLI8n1 rwk8d 61h out 01657 lo do in Newcasts on a nse of S pLaces on prlor ye4r. th ov&r1 rèling 014.5 sts from 1)7 revws we w• Ti4Wi•s( by 91 % ot Lra¥dots IlhLs Is pe(¥Jle whD bbbIrated 4 #nd S ttht48$1. Our C8sfje podcast was relèasat ID 2011 an19d woximatety subscdb•r8 IA were unaN¢ lry rna101n a rewl•r prKl¢ast In 2022 due resourcry V•b anlicap8t• ron(lg this in 2025, $ubl&t to Jrylin9 11)al wll 3e rèqutyèd stsft rÈs(xxc8 We bdiove that altefftabve. rwl.ofthcrtKs ¢r¢I 4gnt pr(¥wwnwo can attr1 a di¥gr59 11ere and InlFtsJtLe ihem lo Ihg I?i$tory I114• of the sile In 2023 we h0518d 28 film niyhls, 19 talks and ctUres, 3 m•thev•l wwein nwts, 9 wo$ l theAe I and 1a6fjed 44 wakn9 t¥9 ol dill•Ang naiwo: tsom tours of medayal Ne4castlo lo Gast knurs. Fo¢u$ for 2024 A$ ¢nVWonmrt has changed dfa1n4b(3 duo to thg ¢oionams f)Utbrvak artd po-knck4Jwn I)uswS spheie Is vwy diver•, we be k)okmg 10 lootss c} the 2024 Growth ol our rtbaln swrto ol tAa tthi"ssions lcketsftg V ¥rf ¢thar value lor Ihrou adjdrtional errfJagemenl. w19re18 inleivgrfiT)Trs. digwrts f(x pass I18 4nd trw14k¥. Mlr reverxje frorn ic(me stre3 and grait tn9. Playwnise value Iof M¢eV thijgh 5ff engageffnt on.yle. FL¥thei develop the wenue he olfef esp•c48ly ft¥ c(rfpor•le Iw• qno wralo 5ponscrtiip. Adively seek core 9j ¢ommunty eln lunding. Longgr.l•m Aftd (tsnrw. A5 wilh m8rny wsllor arrt$. C•slbe rèhas prgd¢)minanltyf an adrnis5tons to nd operaL¥)Iis and other areas ol bfrt. In 2022 we tsc31ed r¥cov lTrwds nthar 2019 le¥els no earlipr khan end 012023. The r8suYi s of the fvwoal aMrt $FKYAT a sn)al growiii in 2023 on lolal payiru a(Im15610113 111 trtmi)8rsyori 10 2019. thus roundiNJ off rerowi Irom cov119 Impac atKI settinq HQCP a ph io ¢Jev)p, engage and enhwc• lo Ihe pubk befft and delN8ry cl k#XP'$ 3 LJecls. Flnancial miew Tho re$Lihs IOT year shtrn 81atonI ol Fin•nc41 Aclivthe¥. rèstywc4s Id8lSed L488,154 2(122. £389,508) of £484.934 ij ¢¢n%dwed io be unrestr¢1 Iq naluie Rescmjices exrendod 1frt9ld £464,(t4 Q022.. £418.7421 stth Ihal ove1 Iho thanty aCryu a surVus 01 f.22 011512022 I,234 defv.ll Al 31 t}Mbar 2023. tht ¢&rlly has tknsry Feser¥es lolallin9 r234 6fj7 12022. £212.582101 which £232.167 12022 £210 158) are le1cled. Free re8•rm, ufire61wKtod roselves le$8 that lied up In fi'xed assels. stoj at £2YJ,970 12022" £202.5911. R•SètW WKI In¥esb7Rnt Polky The ISIe5 havfj aknays that IW wil endwaNoui lo ke monlhi costs of HOCP lo be hdd in i•ser¥¢, re11Y avalabte. They have atso •ge(lI0 8fide8wyo to g[8 a SUa"VL3bli, rlsk retsjm through veslmenls wrtli acceMdbl¥ 18vd ol nsk. Suth fetums lo bg drawr to Iho Iiadry account al tng thsef¥llon CI BAIC or of Inistves. fjund w(xedings.
THE HEART OF THE CITY PARTNERSHIP
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
8trueturo. gov•m•n¢• ond m•n•ll•m•nt
Goveining t)D¢ument
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Poficy Notes
r xi.Ilill
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Sl•t•m9nt ot trust498' rMpon•lbllltl•s Tl)e I(u0(5 Iwl)o ale also Ihe diraeiors ol HOCP lor the pufjThes of compary lvrtl fEspon9tle lor prepa9 the ReKvrt of Ihe Trvyl•¥¥ Il Ina1 5talenwls cThdarKe ith applcaFAe law WKI s<ingdom Accoutiiiiu siandaids IUNled Kingdom G•nerBll¥ A¢d Praclwl. FinClaI Rpportirtg stlard 102'The FID8ng41 R•pMthJ Sknjard apr4c#)le In lh• UK Repubkc af Irelarf. Company th Qll1[e$ the trustèès lo wepare financ aMentS loi taeh fiftanca yar whth v# 4 tru¥ far vw of tho $iale ol affalrs ol Ihe charrtJlo company of Ihe irKomry cesourcao oiid aPkIaON ol resources. Intknthng Ihe I)rre an(J expwditure. ol the (4Trarnat4e c4)mpgny lor In prepartw lho fr1)dI1 sialomerfs. the IN6100• 4r• ics . select sutabl CoUntI9 KM)Ikies aThl then 4)pty 111om c()n•.' okHeNe thè metrtyjs and prmeiples m Ilie ChIlY SORP. make judgemonis and ostknbles that alè rèasonabl& and prudoni. ¢pai& lh¢ fin?n¢i81 slalement& an the orTr ba3 nIe$S it is iwropbl8t8 to wesume thtl thè haritaLqe CLYnp In t4Minès8. The trUee$ aTe res)sth for keepirvJ wp¢r ac0nog d$ whrth réasonab awwacy al lim• the financial ?8$bo ol thè tharitaN2 CA)mpany and to Mablè Ihem 10 ere that the fiilandal Statements comrly Wlth the Cpan$ Ad 2CQ6. Tlxy or• cewble fof 5alegL¢&Ydlng the assets of the ¢haiilalJle (y)rrwiy ièasonaDlè steps lor th¢ w•vwlttl d?tedty Ot frawj aThJ Irve9{lI1¢s Thls iepoll has prepa1 in xeAydartè ¥Alh Iha •pvJal Pfoiiirms of Pwl 15 of Ihw Compaia 21X)6 felatirg Ir& smam wnp4ns. Audltor TIR 8udlttys. Rob60n L8¥Jky ALX(w4arts LinAle¢l bg prwsqd lor IP[ntM at lh• hrit¢Mning Ajmual General Meeling. Dlsclosufe of intorntiOn to auditor Each of Ihe trustees ha5 Onfirmed that there is no lthJrn)aOM of whth ihey w• •w•r wlwth 1$ fdevart kn th• akmld. but of the audllov Is w)8ware They hè tuflhef ¢onfrn)od Iiial Ihey havè taken apwty¥¢alg IiorA to identhfy r8levanl *ilormAt and lo eslabtssh Ihat Iha audi1 is aware o15uth iTrlr)rmalion. rhe tsuwee¥ was approd by the Board ol Trttste•s. MtGM 8 Date,. 4.1.7oa+
THE HEART OF THE CITY PARTNERSHIP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HEART OF THE CITY PARTNERSHIP Oplnlon Vve have audited the fillanoal slatements of The Heat of the Crty Ptnership Ilhe 'chwily'l for the year ended 31 December 2023 whieh compnse the stslemenl ol finarKJaJ thi"b"es. balance sheet and notes lo the finan&81 Stalemenls, Includi significani accwnling Wicies Tr financiaj reportir#J framework that has been applied in their preparatson Is applicable law ard United Kingdom Accwnting Slandaros. including Financial RepNts'ng Standard 102 rhe Fnancial Reporting Standard applKable in Ihe UK afid RepublK ol Ilnd (United Kingdom GenerallyAccepled Accounti Prt£). In our oplnion, the financial stemerts". give a true and lair view ol the stale ol the charitable company's affws a5 at 31 December 2023 aThJ ol rts incoming fesources WKI 8ppii¢ion of resources, indudirvJ its and expwMlitiJe. for the year then ended, have property prepared in accordarKe with Unrted GenelY Accepted Accounth'ng Prxlict., and have been prepared in accordarKe the Tequirefnenis of the Compans Act 2(K6. 8a5is for opinion We conducted our audrt in wthrdance ith International Standards Cyb Auth"ts"ng IUKI IISAS IUKII an¢J apph"cable 18w. Our resp)nsibililies under Ih)se standards are fijrther descnbed in the Audrtols SPonSibl11eS lor Iha .gudil ol tho linaiicial sloleme)nls section of our reF<Srt. We ¥e iThJependent of the charity in accord8nce with the ethical requirements that are relevant to our au(Jit of finanrAal slatemenl$ in the UK, induding the FRC'S Ethical Stsndard, arvj we have fulfilled our other eth4 reSnsibIl.eS in accordance wlth thesé requirements. Vve tslieve that the audit evidence we have obtained is sufficient aK4)ropriale to prov#le a basis for our opnion. Concluslons relating to going concern Irtr auditing Ihe financi41 statements, we have Ihal the truslees, use of the ping concem basis ol accountirg in preparabon of th8 ffinaal statements Is appfopnate. Based on the work have perloffned. we have not Idefitrfd any matenal uncertaints'es relats'ng lo events or conditions that. individually or collectNely. may cast significant dbt on Ihe charity's akn'lity lo continue as a going concem foi a riod ol al least twelve months from when the financial ststemenls are aulhorised for Issue. responsibilities and responsit4"lity"es of the Irustees wrth Fect to g(xng concem we describèd in the relevant sectsons of this rewt. Olher infomtion The other infomiats.on comprises the Inforniat wLled In the anrvJal rewt other than the finala1 statements and our audiior's report Iherecr The trustees are responsible for the other information contailled bwlhin the annual report. Our Lynion cfj the financial slalemenls thxs not Cover the other inf0mtion and, exp1 to the extent otherwise explicrfy 5ts1ed in our iewt. we ¢ks not express any fr)mi of as$uTan¢e ¢McluOn Ihereon Our responsibility Is to read the other infomiatson aThJ. in ¢Jiry so ¢Sler whethef the other inf0mat is materially inconsistenl wlh ihe linancial slalemenls crf ow knov4ted9e obtained in the course of the audrt. or otherwise appears lo be materially misstated. If we Klentify such material Ineonsislencies apparent material misstatements. we are quired lo tsterm whether this gives rise to a matellal misstatement In the financial slalemenls themselves. If, based on the Wofk we have performed. we cry)dude that there is a matenal misstatement of t'S other Irftjmalion. E are requir lo report that fact We have nothing lo report in tts"s fegard Oplnlons on other matters prescribed ty the Companies Act 2006 In wr opnion. based on ts w(yk undwkken in the r5e of our audit. the infcymaliw gNen in the Iruslees, report for the finanaal year IDr vthich the fin8ncaal statements are prepared. 1¢h includes the th'rectors. pOrt prepared lor purposes ol company law. is C£$1$1enI with the financBI 51alements". an¢J the difeclors. rew1 include(I the trustees, rewJrt has been pfepared in accordance wrth appIable leg8¢ requirements. 10-
THE HEART OF THE CITY PARTNERSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HEART OF THE CITY PARTNERSHIP tters on Twhich we aro roqulr•d to report ty exceptlon In ihe light of the knowle&3e and understaIng ol Ihe charity a1 rts enwronment obtain&l in the course ol the audit. we have not thntth'ed matenal mi551atemeMs In the th"re(ors' repNI InclUdj wrthin the trustees, report. We have nothing lo report in res1 of fdlwng matters in fab to which the CoMpanS Act 2006 raquires us to feport lo you rf. in r opinion". adequate xcountirvy iecords have rnt been kept. c tnS aO4uale fof Ouf audit have not been receNed from branches not visited by us". or the financ1 statements are rK)t In a9reemenl vAth ihe xcounlrrg record5 and retums". or certain disdo$ures of Iruslees. reMtffieratn swfied ty law are not made.. or we have not receNed all the infixmabon and explanabLS we require lor our audit". or the trustèes were not enliUe(1 to rxepare the finarKsa slaleffnt8 in accNdance wrth the small Gompan fegime take advantage of the smal companies. exemptsons in preparin9 the Ifuslees, rewrt and fro the requirement to prepare a strategK rEWt. R•8pon¥lbllltles ol trustees As exFaIned more lully in the slalemenl ol Iruslees, reSpS111t1e$, the trustees. are also the di[lOr5 of the charity lor the purpose ol cornpany law. are responsilme fcrf the prepafatson of the financ4al slalen)enis and lor beng sali81ied that they give a true aryj fair view, arKI such Internal Cont[ as the Iruslees determine is neceSry to eable the preparath)n of finanoal stslements lh are free from material misslalemenl ether due lo fraud or error In prepafing th8 financial stalemenls, the Injstees arè r8SPCrnlt4e Icrf assessing the charty's ability to conltnue as a going concern, disclosing, as appIaOle. matlers related to going concem and using the going concern basis ol aCtIng urdess the Iruslees erther inteThd lo IiqLAdale the charrtable comwy or lo cease operations. or have no realistic aternatNe but to do 50. Audltorfs iesponslbllliies for the audll of the flnanelal statements Our oective5 are lo obtain reasonable assurwce aboLrt lthether the fin8n¢¢ statements as a Who are free frc material misslatemenl. wheltter due lo tra# or error. and to issue an auditorfs repxt that includes our cptnion. Rezsonable assurance Is a hi level of assur9 bLtt is rol a guarantee that an a(xJil coTrJucle¢l In accordance with ISAS (UK) wll always detect a maten.al misstatement when il exists Misstatements can arise from fraud or error and are considered malerial if. indivthally or in the agwate, they coukl reasonably be expected to iTffluence the economic dec1510n5 of uws taken on the l)ag's of these finanual slatemenls. The extent to whb ow wocethjres are capable of deteth.ry ryLlanbes, wKluding fraJ. ffj detailed tdow. The risk of material misslaiement ¢Jue 10 err¢y N fraud has bw assessed in conjunction wlh internal conlro15 may miligale any stjch fisk. These controls are revwe(J as part of the audit by performin9 systems w8lkthroughs io ensure they are wraling effecbvety. Analyb'cal review and subslanlive lesting is also performed on all material balance5 and thefelofe any instarKes ol non<0MlanCe Should enti or COndered a5 Insignificant. In identifying arKI as5es51ng nsks of malefial mis$lalemenl in of Irregulanties. including fr&d. the audit engagement team". oblained an understanding of the n8ture of the induslry and sector. indudiThJ ltte legal and regulatory framewcxk, in wtsch the company operates and Ihe compary wth that legal and regatory fr8mewo Inquired wlh management and those charged wth gOVernar èbjut Ihwr own idenlificatt'on and as5essmenl of the nsks of rro3ularities. including any know actual. suspèctèd 0¢ alleged instances ol IraLJd discussed with management and th¢Jse eharget1 Trmth governance any r-cOMpliance thlh laws and regulations and how fraud muht oc£w Indtsjing assessments of how and kn the financial slalements may be susceplitrje to fra The rtsk of management override of (#)ntrc4s w¥s also eongdefed an area of F#)tenlial mi$$lalemenl thje lo fraud. Audit procedures performed included lesbng ol manual purnal enth.es and other adjustments and evaluaiing the bustness rationale in relan lo gnIfi unwal Iransactths and I[sa¢¢*S entered Into outside the normal Coufse of business
THE HEART OF THE CITY PARTNERSHIP INDEPENDENT AUDITOR'S REPORT IcoKfiNUED) TO THE TRUSTEES OF THE HEART OF THE CITY PARTNERSHIP There are inherert Imrfaik)ns kn the aud rwthffes e$ty1 ab04 anEI the FOnary r&spMgrtAIty lor the ¥veiiliun i¢J thiitrclloii OF iirowd4iritMJs 1rKknJY Iraud r•sls wtli iiuriau•ri11. A$ wtth iltiy I¢jA. Iliere feniained a rKsk ol n-deled) regukribes. a5 trese in¥0 (Illus. [wry. oinissws. A futher descrip1 of Qui resp)nslbiktM is aValab on lh8 FInal Repcrt"ng Coun&s websila al htw'.11 t Ife iihlgrvrn8PBtsN1Ie1 ThN dexriptyw Icffjis pwl ol 8udil(¢i rnpyl. UJ• ol Ouf rep¢)rt This ipFNyl r4adp gn191y tr the ¢har#able ccffipHnlg mernbws. a? a body in a¢dance ¥¥rth r,liaplwr 3 01 Pt 16 01 Ihe LompdTheS Act 20Q6. Oui audrt work hos baen Lmd8rtdken w thal mmjht stale io the th#ntst4e ¢cMnpany'8 mb8r% Ihos? martflrg wp 4Te rpqijwprt to slatp to theni ir) 8urtrt(s rw olh&r piJipoe fo Ihe fullest exiÈiil perfftrt1 by law. we do njx attept ¢y assume responsiblrty 10 anyone olher Ihan the chartsble conipanrf and rknlable compan15 mwer3 as a botty. lor our work Iw this f•PLKt, L¥ lof OFdnwJi)I we have formthj. fr41chol• Cunrilnghm FCCA IS•nh)r Sl•lutory Audltorl for ind on behall Of Robson Laldler Accountsnts Umlted 8tsbJtory Audllor Hou¥ Ferrtrt¢>x Ro1 Josmond uwjfi Tyne lyne )d Weaf Fngland NE2 ITJ 12-
THE HEART OF THE CITY PARTNERSHIP
STATEMENT OF FINANCIAL ACTMTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEA18ER 2023
Cunpnt fiD•nrial y•r
Unr•$trktsd R•8trlct•d
lund•
ruDds
2023
2023
Totsl
Totsl
3023
2022
lrtome and endo
Donalii?iis atHJ legaLs
4,451
5,661
20.653
rithei Sdkn8
328,356
629
151,618
240, 129
291
12&435
529
1SI,618
Othttr Ir•iJkng act10$
Tolal kncoffl•
484.9S4
1,21JO
486.154
389.606
Rol9 lunds
63.163
84289
49.701
Charilth &t4vlts
399 977
399.977
369,041
Total 1•gourc•• •Mp•n¢l•d
4163 140
484.28fj
418.742
N•t Incom•ll•xpendbtUf•l lh• y•atl
N•t mov•nnt In lun
THE HEART OF THE CITY PARTNERSHIP STATEMENT OF FINANCIAL ACTMTIES ICONTINUED INCLUOING INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Pilof niiwicial year Unr••tri£t•d R••tricted fvnds fvnds 2012 2022 Total 20Z2 Not•• Income and èndo Donalions and Chan Tibkel sJalo5 vestments Othbr pfoLrtg a¢vths ént 10.770 9.883 20 V63 240,129 291 128.4 240 129 291 128.435 Total Incom 379.825 g r4)8 R918g fwos 39,81 49.701 Charrtae athvlle5 9041 g.041 Total r•goiirew *xP0TP 408 859 418,742 N8t Incomdlèxp•ndityrnl for the yearf Wet mov•m•ntln nd f29 2341 Q9.2341 FI 41 l January 2ff22 2,426 241,816 Fuiid balances al 31 December 2022 210.156 2,426 212.682 14.
THE HEART OF THE CITY PARTNERSHIP BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Flxed •Aset Tawknl¥ as$8ts 1.197 7,565 Current a¥w 5.185 8.952 16,218 X)2.784 Debt$ al b• hd 12 288,718 727,954 Cr•thtorY'. mounts l•llng due wtlhln on• yO¥T 13 33.44S 22.937 Nel rrent assets 2x1,273 206,017 Yotsl ets less ¢wrent Ilab¥lllèfy 234.470 212.2 Th• ofth• ¢harlty R$tntted Incom8 fiinds Unrostriued IAS 14 2.426 210.1 $6 231.970 234.470 212.582 The finow stalnerts were awoved by tt InJ8t••8 on . fvlr 8lack C<)mpany Nmlyr 370 IEnr¥J ¥TrJ V+alwJl 15
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 Accountlng poll¢les Charlty Inlormatlon Tle Heart ol the Crty Partnerstryp is a private company Iwmted by gUntee incorpor8bJ wi Engfand and Wales. The gIstered office is Fernwoc¥J Fk)Ltse, Femwcth Road. JesmcrfKI, Newcastle won Tyne. NE2 1TJ. Unf(ed Kingdcffl. 1.1 Accounting conventloft The finanual statements have been prepared in ac¢ordan¢e wth the Companies Acl 20c. FRS 102 "Th8 Finanual Reporting s18rd applicable in the UK arKI RepU1C of Ireiar. I-FRS 102.1 aTrl the CharItS SORP "Actnting Reporting by CharIts.. Statement ol Recommended praCte applicable to charities prepanng their accounts In accordance wlh Financ1 Reporting Standard ap1¢able in the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. The chonty is a Public Benefit Entsty as defined by FRS 102. The charity ha8 iakon adv1)e of the provisi$ in Ihe SORP hif charihes r1 lo prepare a Slglwnenl of Cash Flows. The financi81 slalements are prepared in stedirvJ, which Is the functKJnal CLfftrty of the chanty. Monetary amounts In Ihese financial slalennls are rounded lo ltrse nearest £ Heart of the City Partnership meets the definilton ot a public benefil Èntrty enlry under FRS 102. Assets and liatrA'lities are initially reco9nised ai histoneal cost N IransaclK)n value wless otherwse stated In the relevant aCntIng policy notelsl. 1.2 Going concern Al the lime of approving the financial statements. the trustees have a reasonable expectation that the Charity has adequate resoLtrces to continue In weralKyfkil estenCe for the foreseeaLqe fulufe. Thus the IrLt$lees conhnue to adopt the gory concem basis of xcounlir¥J in prepanThJ the finanual statements 1.3 Charltable funds Unreslncted funds are avaik9t4e for LL%e al ts th'scretion ol the trustee5 in furthera8 of their charilatye objeclives Restricted fijnds are suty'ect lo speu.fic cldrtS by ¢S)n(¥s or wantcffs as 10 how they may be used. The purposes and uses of the reri¢ted lunds are set txrt in Ihe leS lo Ihe finanoal $latemènt$. 1.4 Income Income Is recogrthsed when the charrty Is legally enlttled to it after Y perfomance conditions have been met. the amounts can be measured rd"ably, aThJ it probable Ihal con wll reca¥ed. Cash donabons a cOgnised on receipt Other donations we reecyjnised once the charity has been notified of Ihe d¢J)o1icffi, Lmless pwforniance require delerral of the amouni. Income lax recoverable In relation to drThtson$ rec*ved Lrtler Gift Aid or deeds of covenant 15 recognised at the bme ol Ihe donal#Jn Grants. where entsllement is not C¢)nal M the delivery of a spKific pertormance by the charity. are recognised when the Charity becLYnes rria1IY entslsed lo granl. Incomlng resources from gfants. where related lo perfomiance arKJ speo.fic deliverables. are accounted foi a$ the charity eams the right lo cortsK1erab.( by rts rfrmanCe. 16.
THE HEART OF THE CITY PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Icontlnued}
1.6 Expenditure
All expenditure is Aeeounted for on an Ual$ bas¢s aTrJ has been das5ffied er headngs that agegate
all costs related to the category lthere eosis c8nno¢ be ¢Jireclly attributed lo partular headings they have
been allocated lo activities on a ba5 consi51errt wth use ol resources. Expej11uTe Irude5 VAT
bthich cannot be fuly rewvefgj, and is rep(xted as part of the eypendrtufe to whth il rdai&s.'
- Costs of generabng fwKls comwtse lh8 costs assedated wth attrtIng voluntory inc(Hne.
Charitable expenditure ccfflprises those cosls irwrgj by the charrty iri the ddivery of its actiwlies and
services lor rts beneficiarFes 11 indude5 costs that can allocaled directly lo such aclivlies and those
costs of an iTrJ¥ect n8ture rK%e$5ary lo sup¥)(Kt th.
1.6 Tangible fixed assets
TaNJible fixed assets ¥e iThlially measured at cost sthequentty at o)$1 or valuati£, nel ol
depreaation and any imp8imienl108ses.
Deprecvath'on is rewni5ed so as lo write off the cost Qr vuaibM of assets less Uir resi¢knl vaues over their
useful th¥es C the fr1
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and l¢ga¢ks Unrestrlcted Reslri¢ted funds funds g•neral 2023 Totsl unfestn.cled fvnds general 2022 Restricted funds Total 2023 2023 2022 2022 Donatity)s and gilts Granis 351 4,100 351 329 10.441 329 20.324 1.200 9.883 4.451 1.200 5.651 10.770 9,883 20.653 other Income Unrgstrktod Unr8strlcted funds funds 2023 2022 Other inctjne Event inCLe Venue incom8 Retail 27.224 49.134 28.738 46.522 20.861 39,445 34,904 33,225 1S1.618 128,435 Ral¥lng funds Unrestricted Restricted funds funds general 2023 Tot•1 Unrestncted lunds general 2022 Reslricled fijnds Total 2023 2023 2022 2022 Operating charity shcps Other trading acb"vilies 23,921 39.242 23.921 40.368 15.224 24.594 15,224 34,477 1.128 9.883 63,163 1.126 64.289 39.818 9.883 49,701 18-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 Exp•ndlturo on charltable activities Charitsble actlvlt65 2023 Charltsble actlvites 2022 Olrect costs Staff costs DepTeuatxJn and palMient Rates and w8t8r lrnsurance 302,903 7.028 1,358 6.962 268.256 7.750 1.379 6.605 E li L vJht and heat Telephone Postsge and statvjnery Matheifftg arKI publK?ty Sundries Travelling Training Repai Card machine chaf9es 12.262 2.217 1,094 18.603 2.284 357 723 27.068 8,641 9,651 2.CQ3 1,038 29.415 3,008 289 1,575 23.842 7.160 391,500 361.971 Shar• of support and go¥emaTrc• costs (sw nolo 61 Suppcyt Governance 4,601 3,876 3.470 3.600 399,977 369.041 Analysls by fund ithre8tficle(I funds 399,977 369.041 Support costs •lloc•tod to 4ctlvftl•s 2023 2022 Payrol fees Professional fees G)vernance cosls 2.348 2.255 3.876 1.570 1.900 3.600 8.477 7,070 Analy5ed b¢tNYeen: Chafitsble actsvites 8,477 7,070 19.
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Trustee5' remunerdtion and beneflis None of the trustees ior ary FrsMs with trmI rec•¥ed any remunwath'cffj Of benefits from the charity during the year. There were no Iruslee's exFenses paid for Ihe yew ended 31 Decembei 2023 nor for the year ended 31 December 2022. Employe08 The average monthly number of emF4oyees iknn9 the 4Yas'. 2023 Number 2022 Number Management and &lminislratKx) 23 20 Employment costs 2023 2022 Wages and salaries Social security costs 011r FensK)n costs 280,723 12,533 9.847 247,556 12,133 8.7 302.903 268.256 Key managerneni remureral1c totaled £49.31612022.. £46.S81 There wre rKJ empbyees Ose annu reMUTreratK was £60.0. Taxatlon The chwrty 15 exempt Irom lax'¢M C tis activrt$ bause all 11$ IrKome 1$ aWd lor ch3rilat4e purposes.
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Tangible fixed assets Cost At 1 January 2023 Additions Disposals 35,116 660 11.7401 At 31 December 2023 34.036 Oepreciation and impairment At l January 2023 Depreciation chafged in the year Eliminated In respect ol disposals 27.551 7.028 11.7401 At 31 DeClber 2023 32.839 Carrylng amount At 31 December 2023 1,197 Al 31 De¢ber 2022 7,585 11 Stocks 2023 2022 Finished 9xd8 *7d gwjs resale 5.185 8,952 12 Debtors 2023 2022 Amounts falling duo withln one yèar: Trade debt0¥5 Other deblofs Prepayments and accrued income 2.418 683 8.389 2.186 1.184 12.848 11.490 16.218 13 Crodltors.. amounts lalllthg due wfjthln one year 2023 2022 Other taXatn arhj Cial securty Trade credit$ Olhei credrtCY5 Accrtjals and deferred income 2,609 7,613 5,039 18,184 3,914 474 3,139 15,410 33,445 22,937 21
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Restricted funds The resthcled ftjnds of the charty comprise the unexpended balances of 01)n$ aTrJ grants hekl on tfust subiect lo specific clY1.0nS by don(5 as ¢0 how IY may be used lknvement In fund$ 8alarK• at InCOnng R880urc•8 Bala0 at l J•Kwy 2023 rvJOUr expend•d 31 t>ecemb•r 2023 CCTV Defibrillator EXOre¥S Costumes A hnedieval Tavem Experie 218 1,644 430 218 1,644 14301 11341 15821 1.200 638 2,426 1.2OJ {1,126) 2.500 CCTV The charty received a grant of £1,(XJO In 2018 Wm Webster Tnjsl and a grant of £4.000 in 2020 from Newcasfje City Council lor lh6 $taIlab"cffl of a CCTV system. Deflbrillator The chwly ¢Ved a grant of £1.644 in 2019 from MLunI IAtsrd Commrttee Ic< the m8talalion ( defibrillator in the castle and cathedral area. Explorers Road The challty 15 woTking to become part ol a mulli-slop Iring route thr¢xJgh Ihe cultural and hislorFcal heart of EThJland by Visit Bnlain and received a grant of £595 from NGI. Costumes for Live Interprètadons The charity received a grant ol £1,243 from C(>OP to ¢ostumès for live interrAetab"ons and revant events, A medVal Tavern Experience The charity received a grani from The Swal Enlefprise Ac&Yemy as part of Ihwr Steps lo Sustainability funding for the ereation of a medieval tavern nTrghl. lo help genefale Income through paid events, and corporate venue hire 15 Analysrd of net assets bet¥en lunds Unreslricted fijnds 2023 Restricted funds 2023 Total 2023 Fund balances at 31 Decembor 2023 arn repTrsontod by: Tangible assets Cwrenl assetsllliabililtesl 1.197 230.773 1.197 233.273 2.500 231.970 2.500 234.470
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Analysls of net assols b¢twffi8n fund$ Icontinuedl Unr•strlcted funds 2022 Restricted nds 2022 Total 2022 Fund balances at 31 December 2022 •r• r•presented by: Tangible assets Current asse1111abIIiIieS1 7,565 202,591 7,565 205.017 2.426 210.156 2.426 212.582 16 R•latod party transactions There were disdosabte related trarns¥ticS dwing ts year12022- nCe).