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 M￿robert
Miss K Mountain
Ms M Wlliams
Mr lan Ayns
MrAdam Serfo￿t￿n
(Appointed 22 March 20231
{￿inted 21 June 20231
Charlty number
1165434
Company number
373460
Regl8t•rod offlc•
Feinwrx)d Hi)usa
FernW￿)￿ Road
Je$m￿j
Ne￿￿03t$a L¢on Tyne
Unrted Kingd(Mn
NE2 1TJ
Auditor
Rob￿ Laijerknountants LI￿￿ed
Jesm{￿d
N*¥caslle w)on Tyne
Tyne ￿ IAÈ¥
ErylaThJ
NE2 1TJ
Bank•rs
Ha￿le$banke￿
Ead Grey Fknuse
75-85 Grey Sireet
N￿￿a￿le Tyno
NE2 1TJ
Virgin m￿eY
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 fin￿claI slalemenls of ihe charity for the yeaf ernled 31 December 2023.
The trustees have adcw Ihe syovtsM￿S ofAc£wnting •J Reporting ty Charities.. Stalemenl of RecommeTrJed
Practice applicable to charities prepar¢ng th￿r accounts in accrAd￿te v411h Ihe Financigl Rep￿ting Standard
8pplicable In the UK and Re￿bI￿ ol Irdand IFRS 1021 leffeckn"¥e 1 j￿Uary 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 Ne*4CaStte Casye. in Nèwcastle Upon Tyne. In addition, il seeks lo
promote the advancemenl of culture and heritage by the e￿￿r￿ent of the ￿)¢￿ communty, arKI v15ilors lo the
City, io appreaale enjoy the histwi and fat￿C of I￿se 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 S￿￿duled Anc￿1 McThJments known 8S t￿ Gate arnl Casts Ke8P.
Background lo Current Acfjvities
The Heart ol the City Partnership IHOCP} leases NeKasUe Castle from Nev*rasUe 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 enSur￿g the txjiktrngs remain in use aThl th*"r spjnificance. cultural arKI wdar c(xnmèreial kneffts
foi the city are urn*r3tlK*J and appiecialeo by the Fxjblic as well as ioeal businesses.
In 2023, Newcastle Castle offered itself p￿r￿pallY as a paid-fof V¢￿t￿ attrathon. open 7 days per weèk between
Apnl and Octo￿r 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. V*e(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 pO￿t￿e aW. Our admiswon chargirrtJ Structure *lows dBEcAJnts for certain
pnorilies e.g. ￿n￿ag￿, families. disat4ed. sefit￿ atszens, am*d 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 J￿Y 2020. A reasc*)aEYe rale rf customer felurn
was experience(I vergus eXpert8￿n 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- O￿Ober.
Our cww)t funding locus is on generating w¢)Jecl-spe(xfic grant funthro lor cornmunity stcrytelling lo enhance the
viwior eXperIe￿e and trA)Islw value for mLMey and enp3ement whilsl a longef-lerm funding plan Is being
drawn Icpjelher. This is impr￿￿nI to fijlhef resi1￿e Inlo HC￿P 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 actNit*s
10 r&enactment vdLtnteer$
13 schoc4 I￿rk placements
A¥wage of 40 volunteers
8 volun1￿S helFNng deliver events
16 St￿e￿I w￿)r￿ pla￿MentS
129 schoc48 using ollsile educational
PYDvision
73 kxlpils with special educats.onal needs
arvj disabilities attendin9
43% 01 S￿￿￿5 worked with in lop X)%
mofe dewNed areas in UK Id8ale8 1, 2
831
19 talks and leclufes
9 wcwkslmws. tr￿atre or music
26% Increase in events income
4293 school pupils taking part in e(kKal￿1
wotkshops and tours
21 wlreach Visits engagin9 935 Sctr￿1 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 y1￿10r ajmissions
Opn lo visitors for 314 days versus 296
in 2022
21 e-r*wslettefS sent out wlh average
open rale of 43.S% and clKk-throu9h
rateof 137%
. 13300 Facebc*)k tr￿￿ne$S p4e folk)wer8
654°h increase on 2022 website unique vi￿tOr
number5
4503 x.com (Fomwrty Twittwl subscn'bers
596 TikTok fiSlowers
10702 Google My Business 1x￿.neSS listir#J
interactions
4.5 stars ￿t of 5 on Goog
4402 Instagr￿ followers
405 kn.nk￿ln followers
2741 Goo* reM8ws si￿9 2015
6th out of 857 Th"ngs to Do In Nebvcastle
on Tnpadvisor
. 1ty)7 Tnpath"8or revièws
4 5 out of 5 on Tripadwsor ￿stOMer ratsr#Js
91% 01 reviewers M Tnpalfvisor would
recommend us
Prfnclpal Souices of Fundlng
HOCP'S principal sources of funding are admissi￿ fee$ 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 lLJncti￿S such as i)ur educatK)n
and outreach programmes. as well as investing In slaff and unproving wsitor offef and experience Be￿een 2016
and 2019 HOCP worked toward5 financ￿1 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 s￿n(r￿an1 putAic benefrt from ils cole activities thr￿gh
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 K￿rkIng 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 sm*1 yJrFAus and a reasonable cash balarKe. HOCP retaif*d 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 m￿tErS. 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 vol￿teer-b8Se reduced In size ¢JuriryJ and after
the COVID-19 pandemic however It has now retutned lo fijll St￿n9th 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 pr￿1r￿ of taking on StL￿entS on work placements. In lotsl we had 16 St￿Jents 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
PeO￿e wth Autism. m￿lIple one week school ￿￿eMentS and 3 longer term uThv¢r￿ty 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 Ma￿taI￿r￿j IndepeThJenl financol suslaingbilily i8 CO￿ to
preserving arKJ PToleciing the build￿g$ ¥Ye op*rale Keeping the Lwiloings In the hearts and mind$ ol local
communities and Ih¢)se from fijrther ar￿0 is a key er¥Jagemenl t•.
Our formal IschooL8 and groups) edu&*N)n rKoVi*￿, inf￿mal leamin9 loutreach eady-years provisionl and
informal Iilelong leamillg linlerpretaliL¥). events. l*ks. leCtU￿S elcl is at the heart of delivering our aljlity lo preserve
and piolecl Newcast￿ Castle. by nurturing and loslenng urvJerstwKJin9 of tt* b￿1th￿9 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¢al￿a 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 Ir￿Me ￿ 2022. In 2023 we built C￿ this success tuming ovef £4J.500.00 through Tavern
Nights and Walking Tour5, talks. film n￿hts. 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 sup￿ie15 and CTaftefs such as The Craty Bag, PhotL¥Jtaphy North ar￿ Tum11 Up sdl
Iheir yoducls Via the retail store. Newcaslk Castle invcAved I￿al W￿rn￿lI￿$ 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 eX￿￿e avenues ol partnershp wn>rking Ne￿aStIe Cathedral and some of the ar￿S of current
discussion include pint ticketi￿. closer cr05S-marketsng and stre￿Il[*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 Ne￿3st18 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. aVer￿1￿j in educati(y)al level from S￿r￿￿¥Y school lo tniversity
degrees, to vocational qualificthons These pt￿ments are deswned as a first slep towards th8 in(hvidu81's careei
and differ depe￿Ing 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 admiss￿nts) 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 tr￿811 visltats.￿.
The graphs below rfIu5trate Ihe ab￿e figures.
Visitor Numbers
Feb
•CUrr￿Ye¥ •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 ••new￿0￿et. 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. N**casttè Casoè's ￿t-01-￿rnk￿
hours PTografflme of events, tslks. lectu￿ rkn Iwls and tr* Ske We Seni 21 g•wr•l +.ne￿￿etlern an
•¥wage op•n r•i• of43.WA ￿1 (*ck.tr*W f* of 13.7%.
uniq￿ wstors lo the ￿bErta In 2023 IrKFgawl ty 854% from 21722 ￿1￿ •AsthYs lotalkng 581.0(￿ wlth
208.OC¥) pagEN*WS. 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 ft￿la e￿Jagernenf ccrsi8twl 01 13.31JJ f fjcebook busw paoe ftIow8r8 lo ol hAI
UIMJer 11Y)O fiom pti)r ygarl. 49)J X CL￿1 Ipr¥¥i(wly ",wiMer lollowersl. a fi5? of S3 on priLW yeai and 4402
In$tsgi&n loHowefs. J of $25 th) PfK¢r year. We also ouf iok Unkedln ac¢xnmts, 88¢h l)oMg
ltslthving of lup 353 Lyb pi501 ygafl ￿1405 (vp 199 on prior yearl roWsvg1¥ Thig Is ￿tne¢￿Ing we are looking
lo ano uldise rn￿e ¢nlo 2024.
(Ilso C￿lin￿ett to G(wlg My Bu*wJ tsh ￿23. In fvst quwter o1202A Iiad 10.71Yl Iw$m•$s
mleTadi0Tr3 Iirfera¢*o(ts Jro when pwbo cam. n*ssa9e. m*e bo(thln9s. fof d1[￿￿.(￿ and rrK)ro fvotn yuui
Bu￿rieS5 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 bU￿nesS wofle.
We CLI￿8n1￿ rwk8d 61h out 01657 lo do in Newcasts on a nse of S pLaces on prlor ye4r.
th ￿ ov&r￿1 rèling 014.5 st*s from 1￿)7 revws we w• Ti4Wi•s(* by 91 % ot Lra¥dots IlhLs
Is pe(¥Jle whD b￿bbI￿rated 4 #nd S ttht48$1.
Our C8sfje podcast was relèasat ID 2011 an1￿9d woximatety subscdb•r8 IA* were unaN¢ lry
rna￿101n a rewl•r prKl¢ast In 2022 due ￿ resourcry V•b anlicap8t• ro￿n(l￿g this in 2025, $ubl&t to
Jrylin9 11)al wll ￿3*￿e rèqutyèd stsft rÈs(xxc8
We bdiove that altefftabve. rwl.ofthcrtKs ¢￿r¢I *4gnt pr(¥wwnwo can attr￿1 a di¥gr59 *￿11er￿e and
InlFtsJtLe ihem lo Ihg I?i$tory I￿114￿• of the sile In 2023 we h0518d 28 film niyhls, 19 talks and ￿ctUres, 3
m•thev•l wwein nwts, 9 wo￿$￿￿￿ l the*Ae I and 1a6fj￿ed 44 wakn9 t￿¥9 ol dill•Ang naiwo: tsom tours
of medayal Ne*4castlo lo Gast￿ knurs.
Fo¢u$ for 2024
A$ ¢nVWonm￿rt has changed dfa1n4b(3￿ duo to thg ¢oionams f)Utbrvak artd po*-knck4*Jwn I)usw￿S
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. w19￿re1￿8 inleivgrfiT)Trs. digwrts f(x pass I￿18 4nd trw14k¥.
Mlr reverxje frorn *ic(*me stre￿3 and grait t￿￿n9.
Playwnise value Iof M¢￿eV thi￿jgh 5￿ff engageff*nt on.yle.
FL¥thei develop the wenue h*e olfef esp•c48ly ft¥ c(rfpor•le Iw• qno wralo 5ponscrtiip.
Adively seek core 9￿j ¢ommunty el￿n￿ lunding.
Longgr.l•m Aftd (tsnr*w.
A5 wilh m8rny wsllor arr￿t￿$. C•slbe rèhas prgd¢)minanltyf an adrnis5tons to ￿nd
operaL¥)Iis and other areas ol b￿frt. In 2022 we ￿tsc￿31ed r¥cov￿ lTr*wds nthar 2019 le¥els no
earlipr khan end 012023. The r8suYi s of the fvwoal aM*rt $FKYAT a sn)al growiii in 2023 on lolal payiru a(Im15610113 111
trtmi)8rsyori 10 2019. thus roundiNJ off rerowi Irom cov1￿19 Impac￿ atKI settinq HQCP a p*h io ¢Jev*)p,
engage and enhwc• lo Ihe pubk b￿efft and delN8ry cl k#XP'$ 3 L*Jecls.
Flnancial miew
Tho re$Lihs IOT year shtr*n 81at￿￿onI 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 exr*endod 1frt9l￿d £464,(t4 Q022.. £418.7421 stth Ihal ove￿1 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 ￿le1￿cled. Free re8•rm, ufire61wKtod roselves le$8
that lied up In fi'xed assels. sto￿j at £2YJ,970 12022" £202.5911.
R•SètW￿ WKI In¥esb7Rnt Polky
The I￿SIe￿5 havfj aknays that IW wil endwaNoui lo ke￿ monlhi costs of HOCP lo be hdd in
i•ser¥¢, re￿￿11Y avalabte. They have atso •g￿e(lI0 8fide8wyo to g￿[8* a SU*a"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
FI(￿￿ iy a F)r1¥4t¥ L¢Jfiiytlfiy Ljirilled by Gtiaiiinlw ￿LL￿P)rat￿mI uiidt>r Il>e ConiP¥lii86 Acl 201h8 •id i¥ 8 iegi$loiod
Lharlly The objects foi whith HQCP was Inttxpcvat￿ a[￿ n5 pJwef5 are £￿tal￿ed 113 Artideg 01
AssorAabon.
Recruitsxent of Tnisteès
riu81eeg we r￿rurted a¥ per ffte Artldes ol A$swknth'or¢. Twslees rer￿￿terf bvt Th)t frvm the appolthg knJi95, #Te
recruited ¥ound skims. knoww and expen6r￿ requ*￿ lo hdp sleei the ￿ganISatI(￿.
Org¥nhation•l ¥truetw•
rhe AfLdtry ol AS5(￿•31￿,¢1 pra¥ith) tb.al TllÈ ￿4*1*￿$￿ ol HOCP bh￿1 bÈ m*i)&y*d by th# TiuJts•tsJ. buiTMJ Ili¥
Merribors DI ￿.0c.p Yihn may p¥errJEe rts FQWWS. Thp nuFrd)Er ot Tvustees to be winte(J as ￿rEctOrS of HOCP
sliall M)t bè lèss tIK41Tr 6 atid slial Ixil ￿ intye thari 12 01 tAho
Uy k) I*0 $ha# ￿ opy()Inltstl by I*JwLa511e Cily coll￿
Up lo 2 yhall be appOint￿j by Ihe Llean & Chaplei of Ne%4raslle Cai*edr
Up 10 2 Ill￿1 bu apwirl1￿ by Ihe ￿￿-￿tY ol of NWCi•￿l￿ UP￿ fyn8
Tho most i¢M)T managd. lh• (>•?1 E¥•wifve Offror. ￿ appolnled by the fwjtees ts Ihe puwse of ensurlr¥J thè
IItLYe siisiainal)Ilily ol ￿￿C?$1￿ cast￿ and prwliny and devdwng Ih# W￿￿r obifjo*$ ul Ihe rharity Tnjstee
m8etirkg5 arp held quarterly willi BMC tiiee1￿g al niiiNmum S tinies pw year lo Iirforiii the direc￿1) ul
N8**aAlle casi￿ al￿ 10 SLJPPOrt the Chiof Ex¢euli¥e 0￿C
Poficy Notes
r xi.Ilill<J iiolicJc.s hnw1>0on In ￿ ¥b*h prkn x&*dL
rr{￿et L￿1& of PrX1￿É
ri&w¥ps
Sale9uardiv9
I r Jnd lThloimaiw)n S¢cuiily
Caid Htlder Inf¢ymabc
leallli alld Safery
Finanf)al Lonlrijts
niil.'4 PrulgLII(
énwionniep.181
Eqiitil npwrlurol
RehaLiililJlion of (y1et￿fs
Siaff w0￿re
Mey MAnageinenl R•muMralk•n
Key [nanagen7￿1 remunetatk)D L8 ￿eleM￿r￿j Lry Ihe Truslees.
Related Partles
rhorii rK) r8lated Part￿S.
RIBk Manaqemeni
HOLP t3kes g ciwiehensive and sys1•mai￿ appftsacl) 10 itsk.manwrnenl Idenlfylw sigirlkJnl rTrsks Ljnder
a4n headlngs" HR I rfysoww, wrwty, operabonal. & hnanojal. Procedufe5 ale in
ace lo mibgaiv oi Otrierwise m#iiage Iho inosl significant iisks Klenlifiod anti a fiisk Ro9lSltr Is In plac* The Rl8k
Register is fegiilarb Tvv#e(l and Vkxjaled new nsks ￿e idenbféd a￿1 l or p[(￿ed￿re$ afe
developed ID millwo Iho risk.

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(u￿0(5 Iwl)o ale also Ihe diraeiors ol HOCP lor the pufjThes of compary lvrtl fEspon9tle lor prepa￿9
the ReKvrt of Ihe Trvyl•¥¥ Il* Ina￿1 5talenwls ￿ *cThdarKe *ith applcaFAe law WKI s<ingdom
Accoutiiiiu siandaids IUNled Kingdom G•nerBll¥ A¢￿￿d Praclwl. Fin￿ClaI Rpportirtg
st￿lard 102'The FID8ng41 R•pMthJ Sknjard apr4c#)le In lh• UK Repubkc af Irelarf.
Company th ￿Qll1[e$ the trustèès lo wepare financ￿ ￿a￿MentS loi taeh fiftanca￿ y*ar whth ￿v# 4 tru¥ far
v*w of tho $iale ol affalrs ol Ihe charrt*Jlo company ￿ of Ihe irKomry cesourcao oiid aPkI￿a￿ON ol resources.
Intknthng Ihe I￿)rre an(J expwditure. ol the (4Trarnat4e c4)mpgny lor In prepartw lho￿ fr￿1)dI1
sialomerfs. the IN6100• 4r• ics
. select sutabl* ￿CoUntI￿9 KM)Ikies aThl then 4)pty 111om c()n•.'
okHeNe thè metrtyjs and prmeiples m Ilie Ch￿IlY SORP.
make judgemonis and ostknbles that alè rèasonabl& and prudoni.
¢pai& lh¢ fin?n¢i81 slalement& an the ￿￿orTr ba￿3 ￿nIe$S it is iwropbl8t8 to wesume thtl thè
haritaLqe CLYnp￿ In t4Minès8.
The trU￿ee$ aTe res￿)￿sth for keepirvJ wp¢r ac0￿n￿og ￿￿d$ whrth réasonab￿ awwacy al
lim• the financial ￿?8$bo￿ ol thè tharitaN2 CA)mpany and to Mablè Ihem 10 e￿￿re that the fiilandal Statements
comrly Wlth the C￿pan￿$ Ad 2CQ6. Tlxy or• cew*ble fof 5alegL¢&Ydlng the assets of the ¢haiilalJle
(y)rrwiy ièasonaDlè steps lor th¢ w•vwltt￿l d?tedty Ot frawj aThJ Irve9￿{lI1¢s
Thls iepoll has prepa1￿ in xeAydartè ¥Alh Iha •pvJal Pfo*iiirms of Pwl 15 of Ihw Compai*a 21X)6
felatirg Ir& smam wnp4n￿s.
Audltor
TIR 8udlttys. Rob60n L8¥Jky ALX(w4arts LinAle¢l bg prwsqd lor I￿P[￿￿ntM*￿ at lh• hrit*¢Mning Ajmual
General Meeling.
Dlsclosufe of intorn￿tiOn 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 h*è 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 appro￿d 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 P*tnership 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 ar*d United Kingdom Accwnting Slandaros. including Financial RepNts'ng
Standard 102 rhe Fnancial Reporting Standard applKable in Ihe UK afid RepublK ol I￿l￿nd (United Kingdom
GenerallyAccepled Accounti￿ Pr￿t￿£).
In our oplnion, the financial st*emerts".
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 Gene￿lY Accepted Accounth'ng Prxlict.,
and
have been prepared in accordarKe the Tequirefnenis of the Compan*s 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 ￿SPonSibl1￿1eS 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 eth￿4 reS￿nsibIl￿.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 ffina￿al statements Is appfopnate.
Based on the work have perloffned. we have not Idefitrf￿d any matenal uncertaints'es relats'ng lo events or
conditions that. individually or collectNely. may cast significant d￿bt 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 infom*tion
The other infomiats.on comprises the Inforniat￿ w￿L￿led In the anrvJal rewt other than the fina￿la1 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 inf0m￿tion and, ex￿p1 to the extent
otherwise explicrfy 5ts1ed in our iewt. we ¢ks not express any fr)mi of as$uTan¢e ¢Mclu￿On Ihereon Our
responsibility Is to read the other infomiatson aThJ. in ¢*Jiry so ¢￿S￿ler 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 appI￿able 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 understa￿Ing ol Ihe charity a￿1 rts enwronment obtain&l in the course ol the
audit. we have not thntth'ed matenal mi551atemeMs In the th"re(*ors' repNI InclUd￿j wrthin the trustees, report.
We have nothing lo report in res￿1 of ￿ fdlwng matters in f￿ab￿ to which the CoMpan￿S Act 2006 raquires
us to feport lo you rf. in ￿r opinion".
adequate xcountirvy iecords have rnt been kept. c* ￿t￿nS aO4uale fof Ouf audit have not been receNed
from branches not visited by us". or
the financ￿1 statements are rK)t In a9reemenl vAth ihe xcounlrrg record5 and retums". or
certain disdo$ures of Iruslees. reMtffierat￿n swfied ty law are not made.. or
we have not receNed all the infixmabon and explanabL￿S we require lor our audit". or
the trustèes were not enliUe(1 to rxepare the finarKsa slaleff*nt8 in accNdance wrth the small Gompan
fegime ￿ take advantage of the smal companies. exemptsons in preparin9 the Ifuslees, rewrt and fro￿ the
requirement to prepare a strategK rEWt.
R•8pon¥lbllltles ol trustees
As exF￿aIned more lully in the slalemenl ol Iruslees, reSp￿S1￿11t1e$, 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 be￿ng
sali81ied that they give a true aryj fair view, arKI such Internal Cont[￿ as the Iruslees determine is neceS￿ry to
e￿able 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 appI￿aOle. matlers related to going concem and using the going
concern basis ol aC￿￿tIng 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 o*ective5 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 wh￿b ow wocethjres are capable of deteth.ry ryLlanbes, wKluding fra￿J. 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 rev*we(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<0M￿lanCe Should ￿ ￿enti￿￿ or COn￿dered 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 reg￿atory
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 rela￿n 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$￿ty*1 ab04* anEI the FO*nary r&spMgrtAIty lor the
¥veiiliun *i¢J thiitrclloii OF iirowd4iritMJs 1rKknJ￿Y Iraud r•sls w*tli iiuriau•ri￿11. A$ wtth iltiy I￿¢jA. Iliere feniained
a rKsk ol n￿-deled￿)￿ ￿ *regukribes. a5 trese in¥0￿￿ (Illus￿. [w￿ry. oinissws.
A futher descrip1￿ of Qui resp)nslbiktM is aValab￿ on lh8 FIn￿al Repcrt"ng Coun&s websila al htw'.11
t￿￿ Ife iihlg￿rvrn8P￿BtsN1Ie1 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 P*t 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 piJipo*e fo Ihe
fullest exiÈiil perfftrt1￿ by law. we do njx attept ¢y assume responsiblrty 10 anyone olher Ihan the chartsble
conipanrf and rknlable compan15 mw*er3 as a botty. lor our work Iw this f•PLKt, L¥ lof OFdnwJi)I we
have formthj.
fr41chol*• Cunrilngh*m FCCA IS•nh)r Sl•lutory Audltorl
for ind on behall Of Robson Laldler Accountsnts Umlted
8tsbJtory Audllor
Hou¥*
Ferrtrt¢>x* Ro￿1
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•$trktsd R•8trlct•d
lund•
ruDds
2023
2023
Totsl
Totsl
3023
2022
lrtome and endo
Donalii?iis atHJ legaL*s
4,451
5,661
20.653
rithei Sdkn8
328,356
629
151,618
240, 129
291
12&435
529
1SI,618
Othttr Ir•iJkng act*￿10$
Tolal kncoffl•
484.9S4
1,21JO
486.154
389.606
Rol￿￿9 lunds
63.163
84289
49.701
Charilth &t4vlt*s
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•n*nt In lun<ts
21.814
74
21.8a8
(29.2341
Fund balan￿ at 1 Janu•y 2023
210.156
2428
212.582
241.816
F￿d balanc￿ Jt JI D•￿￿*91 2023
231.970
2S)O
234,470
212,582
rho statemwtl of ￿￿)￿10$ 91 gths and b)s¥e8 reGwrn5ed m t￿ yw,
TPN> aLiiwnenl of fin*c4al actm.tres WYJLvJes sl gkns kisses rec(vwd in tt* year. AN expentjttwg
wtve frcffl u)nllni1b￿ admtkn.
Tte thteThenl df nnaiicwl actyw1￿ *J) tonW*s Il* r•wif•nOm• 8n In￿rt￿ and w8ndiiure a￿Ount
dFJr lh& COmpan￿A£a 2(￿.
13-

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 pfoL*rtg 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
R918￿g fwos
39,81
49.701
Charrta￿e athvlle5
9041
g.041
Total r•goiirew *xP0T￿P￿
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•* h￿d
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 I￿AS
14
2.426
210.1 $6
231.970
234.470
212.582
The finow* stal*nerts were awoved by tt* InJ8t••8 on .
fvlr 8lack
C<)mpany Nmlyr ￿37￿0 IEn*r¥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 gU￿ntee 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 s￿￿18rd applicable in the UK arKI RepU￿1C of Ireiar￿. I-FRS 102.1 aTrl the CharIt￿S
SORP "Act￿nting Reporting by CharIt￿s.. Statement ol Recommended praCt￿e applicable to charities
prepanng their accounts In accordance wlh ￿ Financ￿1 Reporting Standard ap￿1¢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 adv￿1￿)e of the provisi￿$ in Ihe SORP hif charihes r￿1 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 slalen*nls 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 w*less otherwse stated In the relevant
aC￿￿ntIng 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 e￿stenCe 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 furthera￿8 of their charilatye
objeclives
Restricted fijnds are suty'ect lo speu.fic cl￿drt￿S by ¢S)n(¥s or wantcffs as 10 how they may be used. The
purposes and uses of the re*ri¢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 ￿r￿r￿i￿￿a1IY 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 ￿rfr￿manCe.
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 ￿U￿al$ bas¢s aTrJ has been das5ffied ￿￿er headngs that ag￿egate
all costs related to the category lthere eosis c8nno¢ be ¢Jireclly attributed lo part￿ular headings they have
been allocated lo activities on a ba￿5 consi51errt wth use ol ￿ resources. Expe￿j11uTe Ir￿ude5 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 attr￿tIng 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 v*uaibM of assets less U*ir resi¢knl vaues over their
useful th¥es C￿ the fr￿1<Y￿r￿j bases".
C￿p￿terS
33% on cost
The gain or loss afisirvJ on the 15sFos* of an asset is determined a5 the difference between Ihe $81e
proceeds aTrJ the catrying valuè of the assei. and is re¢ogrNsed in the stalwnent of fillanoal actwit￿3
1.7 Impairment of fixed assets
At each feF*J*ng end dale. the charity reviews the rarrying amwnts of Ils laNJible assets lo delermiT
whether there is any irKlicatson that those assets have suffered an impairment 1055. If any 8LJch indrat
exists. the recoveraL4e amount of the asset is thmaled in ￿der lo determine the extent of the Impairmenl
loss lil any).
1.8 Stocks
Stocks are valued al the I¢y•¥er of cost aThJ net realisable vaue. 8ftei making due *lowarKe for obsolete aThJ
slow moving Items
1.9 Cash and cash equlvalents
Cash wd cash equivalents Irt1￿ cash in h￿d. depjsifs held al call wtlh ba￿$. othei short-tem fiquKI
investments wth onginal malurthes of three morrths ty less. •trJ overdrafts Bank overdrafts are shown
wlhin t>)rrowngs In Ik8LxIrt￿$.
1.10 Taxatlon
As a charity the company is exempl from tax M income and gaéns lo the ext￿1 that these are aoied to
¢harilable 04ects No lax charges have arisen in the dwnty.
1.11 Pension cosis and other post.r•tlrom•nt b•neflt$
The charitable ¢ompany operates a defined ¢￿tribUt￿ pension scheme. Contr1￿￿"c￿S payable lo
charitsble ccmpanl$ pgr6iM s¢heffÉ are chwgea lo Ihe Statement of Financial ActNitsS in the perkxl Io
which they rdate.
1.12 Creditor5 and provisions
CreL1ilors and provisi¢xs are recognis8d whefe the Th8s a tyesenl c4)r￿atIon resulting from a past event
that wll probably re￿1 in the transfer of fijnds to a th￿d p*ty and the amount due lo settle the obligation can
be measured or eslimaled reliably. Creditors and Wow$￿n5 are noimally recLyJnised ai their sèttlement
amount after allob*ing lor any trade di8counls due.
17-

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 inCL￿e
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 F*rsMs with tr￿mI 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
011￿r 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.S*81
There w*re rKJ empbyees ￿Ose annu￿ reMUTreratK￿ was £60.0￿.
Taxatlon
The chwrty 15 exempt Irom lax*'¢M C￿ tis activrt*$ b￿ause all 11$ IrKome 1$ aW*d 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 DeC￿lber 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 taXat￿n 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 clY￿1￿.0nS by don(￿5 as ¢0 how I￿Y may be used
lknvement In fund$
8alarK• at InCOn￿ng R880urc•8 Bala￿0 at
l J•Kwy 2023 rvJOUr￿ expend•d 31 t>ecemb•r
2023
CCTV
Defibrillator
EX￿Ore¥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 ML￿u￿nI 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 I￿ring 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 re￿vant
events,
A med￿Val 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 asse1￿111abIIiIieS1
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¥tic￿S dwing ts year12022- nC￿e).