REGISTERED COMPANY NUMBER: 10187450 (England and Wales)
REGISTERED CHARITY NUMBER: 1167301
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE GALTRES CENTRE CHARITY
(A COMPANY LIMITED BY GUARANTEE)
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
THE GALTRES CENTRE CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
Page |
Report of the Trustees |
1 to 6 |
Independent Examiner's Report |
7 |
Statement of Financial Activities |
8 |
Balance Sheet |
9 to 10 |
Notes to the Financial Statements |
11 to 20 |
Detailed Statement of Financial Activities |
21 to 22 |
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2024.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheGaltresCentreCharitywasestablishedtotakeonthecharitableactivities,assetsandliabilitiesofThe Galtres
Centre, which was formed under a trust deed dated 17 May 1983 for the purposeof operatinga communitycentre for
recreationandleisurepurposesfortheinhabitantsofEasingwoldanditsneighbourhoodinthecountyof North
Yorkshire.
Theobjectsareintendedtoimprovethequalityoflifeoftheinhabitants.Trusteesbelievethattheobjectives and
activities of the charity comply with the guidance published by the Charity Commission on Public Benefit.
History of the Charity
Thecharityownsthefreeholdofthepropertyknownas"TheGaltres"andacquiredthefreeholdofthe surrounding
landcomprisingthewholeofthesiteapartfromtheCrabmillLanecarparkwhichisownedandmanagedby North
Yorkshire Council. This was previously leased from Hambleton District Council on a ninety-nine year lease.
TheleisurehallwasconstructedbyHambletonDistrictCouncil.ThisisnowfullyownedbytheCharity.It was
officially opened on 19th April 1991. Alterations to this hall took place in 2008 and are detailed below.
A floodlitall weatherpitch,the size of two tenniscourts,has been constructedin the grounds,fundedby the Centre,
withtheaidofgrantsreceivedfromtheFoundationforSportandtheArts,SportEnglandandHambleton District
Council. This facility was officially opened on 5th July 1996.
A 30 stationfitness suite was constructedand fundedby the Centre with grant aid from Sport Englandand Hambleton
DistrictCouncil.This facilityhas been in use since October2001.The fitnesssuiteoperateson a membershipbasis for
whicha monthlyfee is paid.Membershiphas remainedfairlyconstantsincethe opening.The facilityis openfor over
eighty hours each week and is staffed by suitably qualified paid staff.
Alifthasbeeninstalledtoprovideaccesstothefirstfloorbypeoplewithmobilityproblems.Thelifthas been
operational since May 2004.
AnextensiontotheloungewascompletedinDecember2005whichincreasedcapacityfrom120to150.The lounge
has the benefit of a hearing loop and audio equipment. The lounge furniture was replaced in 2010.
A major developmenttook place in 2008 when a four badmintoncourt size sports hall was built.The hall is suitable for
5-a-sidefootball,basketball,shortmat bowls,netball,cricketnetsandtennisas wellas badminton.It provides space
forcircuittraining,manytypesofexerciseclass,children'sactivitiesandschooluse.Theconstructionofthis new
sportshallallowedtheoldleisurehalltobeconvertedandrefurbishedtobecomethenewGaltres Entertainment
Centre(GEC).Withcomfortabletieredretractableseatingthe GEC canaccommodateup to 250 people.A permanent
stage,goodlightingandsound,togetherwithfullprojectionfacilitiesenablethe GEC to be usedfora widevariety of
activitiesincludingdrama,music and cinema.These events are promotedby the Centre and by localgroupshiring the
facility.ThisdevelopmentwasfundedbytheCentrewithgrantaidfromSection106money,Hambleton District
Council,SportEngland,WREN,and a numberof otherorganisations.It was officiallyopenedon 2nd July 2009 by HRH
The Princess Royal.
-1-
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Significant Activities
Part of the Centreis licensedfor entertainmentand the sale of alcohol.The kitchenprovidesfull cateringfacilities. All
salesof foodanddrinkarehandledbytheGaltresCentreTradingCompanyLimited,usingtheamenitiesprovided by
the charity. This Company is a wholly owned subsidiary of the Galtres Centre, under the control of the trustees.
The Centre employs an Office Managerwith two part time administrators,a SportsCoordinator,the Fitness Suite staff
and part time cleaners,groundstaff and licensee. The remainderof the day to day work at the Centre is carriedout by
unpaid volunteers.
Thecharitygratefullywelcomestheunstintinghelpof68volunteers.Volunteersundertakeavarietyofrolesat the
charityandwithoutthemwewouldnotbeabletocontinuetoprovidethehighstandardoffacilitiesand services
withoutemployingadditionalstaff.We estimatethat,basedon the NationalLivingWage,the costof employing staff
ratherthanvolunteerswouldbe inexcessof £100,000.We wouldliketo thankallourvolunteersfortheir continued
loyal support and service.
AdiverserangeofactivitiesisprovidedincludingTownCouncilmeetings,LionsClubmeetings,meetingsof political
parties,churchgroups,billiardsandsnooker,bridgeandwhistdrives,amateurdramaproductions,flowerclub, craft
fairsanda MasonicLodge.A wide varietyof entertainmenttakes placefrom tributebandsto historicallectures, from
visitingtheatregroupstocelebrityappearances.TheCentrealsopromotesregularcinemaandlive satellite
broadcasts.TheCentreisbookedforweddingreceptions,anniversaryandbirthdayparties,funerallunches, discos
and has a regular Friday coffee morning.
Rooms are availablefor individualhire and all parts of the premises are in constantuse, often fully booked.The sports
facilitiesareavailableforhirebyindividualsorgroups.Additionally,theCentreprovidesover30hoursof exercise
classes each week along with a programme of coaching for juniors.
ACHIEVEMENT AND PERFORMANCE
Main achievements during the year
The Centre occupancyrate has almost achieved pre-Covidlevels in both the number of bookingsand attendances with
anaveragefootfallofaround2,000perweek.OnenewlettingintheyearwastoBarclaysBankplcwhohave a
presence in the Centre on four days a week followingthe closureof bank branchesin the town. This is a much needed
community asset.
Amajorreplacementoftheroofoftheoriginalbuilding,alongwithworktochimneysinthesamearea,was a
significant step in the general maintenance of the property.
The introduction of LED lighting to the sports hall will reduce energy consumption in that area by over 50%.
-2-
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
TheGeneralPurposesandFinanceCommitteeispresentedwithquarterlymanagementaccountsfortheCharity and
its Tradingsubsidiary.An annualbudgetispreparedto mirroreachpartof the activitiesundertakenby the Centre in
accordance with its income generation priorities. These performances are monitored on a quarterly basis.
The financialperformanceof both the Charityand the TradingCompanycontinuedto improve post Covid. Turnover in
theTradingSubsidiarywasupbymorethan25%to£174,965,andwasprettymuchbacktopre-Covidlevels. This
enabledtheTradingSubsidiarytopayarenttotheCharityof£29,000(2023:£5,700),contribute£51,449 (2023:
£25,693) to the cost of facilities and to make a charitable donation to the Galtres Centre of £5,410 (2023: £ Nil).
IncludingtheincreasedcontributionfromtheTradingSubsidiary,theincomeforthecharityalso increased
significantly by more than 20% to £309,267. As with the Trading Subsidiary, this was close to pre-Covid levels.
Expenditurewasupfrom£258,983to£365,847resultinginanoveralldeficitof£56,580.However,this included
£71,800 on major repairs to the roof and chimneys of the originalGaltres House. Withoutthis expenditure,the charity
would have been in a surplus of £15,220.
Othersignificantexpenditureintheyearincluded£22,956ontheprovisionofLEDlightinginthemainsports hall,
against which a grant of £18,364 was received via NYC from a Government energy saving project.
Thefinancialperformanceandpositionofthecharityandofitstradingsubsidiaryisimprovingandis currently
satisfactory.
RESERVES POLICY
The Reserves Policy is reviewed by the trustees on an annual basis.
The Charityaims to maintainits free reservesin the rangeof 6 to 12 monthsforwardexpenditurefor the Charity and
TradingSubsidiary.InsettingitsReservesPolicy,thetrusteeshaveconsideredtheCharityCommissionguidance in
'CC19 Charitiesand Reserves' and takenits strategicaims intoaccount.To supportits strategicaims, the trustees may
establishdesignatedfundsasappropriateforplannedsignificantcapitalexpenditureprojectsandnew service
initiatives.
In setting the target level of free reserves, the trustees have considered:
-
its working capital and cashflow requirements
-
the generally fixed nature of its service delivery costs but potential volatility in income
-
the use of reserves to fund planned or unplanned deficits
-
a contingency for significant unplanned expenditure
At31March2024,totalReserveswere£1,960,855,including£50,126inRestrictedReserveswherefundshave been
receivedfora specificpurposeand£80,000inDesignatedReservesforanticipatedmajorexpendituretothe building
and facilities.
FixedAssets,amountingto£1,616,946,cannotbeliquidatedandcannotberegardedasfreereserves.Genuine Free
Reservesthereforeamountto£213,783and,basedonthebudgetfor2024/25,thisequatesto6 monthsof forward
expenditure, in line with the target level, but at the lower end of the range.
-3-
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT POWERS AND POLICY
UndertheArticlesofAssociation,trusteesarepermittedtoinvestfundsinaccordancewiththeTrusteeAct 2000.
Withthe level of free reservesbeingat the lowerend of the targetrange,trusteeshave adopteda cautious approach
totheinvestmentofsurplusfundswhicharedepositedinvariousinterestbearingaccountsofdifferent maturities,
consistent with the cash flow needs of the charity.
RISKS
Toaddressawholerangeofrisks,theCentrehasaHealthandSafetystatement,anEmergencyActionPlanand a
rangeofpoliciescoveringSafeguarding,Fire,WorkingatHeight,ManualHandling,LegionnairesDiseaseand COSHH
amongst others.
The GeneralPurposeand FinanceCommitteehas oversightof risks beingfaced by the charityand how thoserisks are
mitigated. Trustees consider the following to be the major risks currently facing the charity
- Injuryto a serviceuser,especiallywhen usingthe FitnessCentreandotherphysicalactivities.Suitablyqualified staff
and coaches are employedand all members of the Fitness Centre undergoa rigorousassessment and induction. Public
Liability insurance is maintained.
-Lossofincome.About90%ofincomeisgeneratedfromserviceusers.Thisisastrengthbutisalsoarisk with
individualsfacingcostoflivingpressuresandorganisationsfacingcostpressures.Trusteesensurethatthe facilities
remainofhighquality,thatthechargingstructuresstrikesagoodbalancebetweenaffordabilityand financial
sustainabilityand that a wide range of activitiesare provided.The remaining10% is from grantsfrom statutory bodies
whichareexposedtofundingpressuresfacedbythosebodies.Whilewewillcontinuetoseekgrantfunding where
this is available, the charity strives to be self sufficient.
-Reductioninvolunteers.Asnotedabove,thecharitybenefitsfromsignificantvolunteertimewhichwouldbe a
significantcostifthiswasundertakenbypaidstaff.Thecharityhasstronglinksinthecommunityandis continually
encouraging new volunteers.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheGaltresCentreCharitywasincorporatedon18 May2016andregisteredbytheCharitiesCommissionon24 May
2016to takeover the activitiesof the GaltresCentrewhichwas formedundera declarationof truston 17 May 1983,
and duly registered as a charity on 24 January 1984.
Recruitment and appointment of new trustees
Trustees may be appointedby existingtrustees or by Members at an Ordinarymeeting. The currenttrustees consist of
individualswho were trustees of the former unincorporatedcharitywhen the Galtres Centre Charitywas incorporated
in2016togetherwithfourindividualsappointedbythetrusteessincethen.Trusteescontinueinpostuntilthey are
disqualified or resign.
-4-
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Theoriginaltrustdeeddecreedthatthecentreshouldbeadministeredbyacommitteeofmanagement, comprising
thirtyelectedmembers,plusthirtyfourmembersselectedtorepresenteachoftheorganisationswithinthe town
supportingthe centre.The namesof theseorganisationsare shownin the declarationof trust.In additionnot more
than ten further members may be co-opted.
The Articles of Association of the newly formed Galtres Centre Charity are derived from that original trust deed.
Under the Articles of Association there are a number of classes of members of the charity comprising:
o The subscribers to the Memorandum;
oup to thirtyindividualmembers who shallbe electedfrom the generalpublicat the annualgeneralmeetingof the
charity (known as elected members);
oonemembernominatedbyandrepresentingeachformallyconstitutedcluborsocietywithinEasingwold (known
as representative members), the identity of such clubs and societies to be determined by the directors; and
o up to ten co-opted members, who shall be determined by the directors (known as co-opted members).
Membersmeetonaquarterlybasisatmeetingschairedbyatrusteetoconsiderreportsfromtrustees and
sub-committees on the activities of the charity.
Thedirectorsarethetrusteesofthecharity,whomeetonaquarterlybasis.Theminimumnumberof directors
specified in the Articles is 8 with no maximum.
Subgroupsareappointedtocarryoutspecificfunctionsintheday-to-dayrunningofthecentre.These comprise
GeneralPurpose(Finance)Committee,SportsCommittee,LiveEntertainment,CinemaandSatellite,Catering, and
Administration.
Induction and training of new trustees
New trustees are given copies of the Charity Commission leaflet detailing the duties and responsibilities of trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
10187450 (England and Wales)
Registered Charity number
1167301
Registered office
The Galtres Centre
Market Place
Easingwold
North Yorkshire
YO61 3AD
-5-
THE GALTRES CENTRE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
The Galtres Centre Charity is managed by the trustees with the support of the members.
The trustees during the period under review were:
J R Farmer
C J Pearson
D Bracewell
S M Bracewell
C J Smethurst
N Madden
R F Barugh
P Glossop
W A Rinaldi-Butcher
E P Readman (Deceased 16/07/2023)
F M Readman
D E Gallon
R Westerman
S D Mattock
J Wintermeyer
P M Dack (Appointed 24/01/2024)
J Osborne (Appointed on 24/01/2024 and resigned on 24/04/2024)
S Souter (Appointed on 24/01/2024 and resigned on 12/03/2024)
Independent Examiner
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
Approved by order of the board of trustees on 16 October 2024 and signed on its behalf by:
Mr J R Farmer - Trustee
-6-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE GALTRES CENTRE CHARITY
Independent examiner's report to the trustees of The Galtres Centre Charity ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in
England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
H Priest
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
5 November 2024
-7-
THE GALTRES CENTRE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
Sporting and other community activites
Entertainment activities
Investment income
4
Total
EXPENDITURE ON
Charitable activities
5
Sporting and other community activites
Entertainment activities
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
11,412
168,951
35,990
39,650
256,003
288,563
24,020
312,583
(56,580)
11,757
(44,823)
1,955,552
1,910,729 |
Restricted
funds
£
53,264
-
-
-
53,264
53,264
-
53,264
-
(11,757)
(11,757)
61,883
50,126 |
2024
Total
funds
£
64,676
168,951
35,990
39,650
309,267
341,827
24,020
365,847
(56,580)
-
(56,580)
2,017,435
1,960,855 |
2023
Total
funds
£
51,082
155,925
30,799
11,605
249,411
239,856
19,127
258,983
(9,572)
-
(9,572)
2,027,007
2,017,435 |
|
|
|
|
|
The notes form part of these financial statements
-8-
THE GALTRES CENTRE CHARITY (REGISTERED NUMBER: 10187450)
BALANCE SHEET
31 MARCH 2024
Notes
FIXED ASSETS
Intangible assets
12
Tangible assets
13
Investments
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
funds
£
4,768
1,562,047
5
1,566,820
25,211
352,021
377,232
(33,323)
343,909
1,910,729
1,910,729 |
Restricted
funds
£
-
50,126
-
50,126
-
19,187
19,187
(19,187)
-
50,126
50,126 |
2024
Total
funds
£
4,768
1,612,173
5
1,616,946
25,211
371,208
396,419
(52,510)
343,909
1,960,855
1,960,855
1,910,729
50,126
1,960,855 |
2023
Total
funds
£
4,333
1,621,475
5
1,625,813
23,578
388,075
411,653
(20,031)
391,622
2,017,435
2,017,435
1,955,552
61,883
2,017,435 |
|
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2024.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
-9-
THE GALTRES CENTRE CHARITY (REGISTERED NUMBER: 10187450)
BALANCE SHEET - continued
31 MARCH 2024
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon16October2024 and
were signed on its behalf by:
Mr J R Farmer - Trustee
Mr R Westerman - Trustee
The notes form part of these financial statements
-10-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. STATUTORY INFORMATION
Thecharityisaprivatecompanylimitedbyguarantee,incorporatedinEnglandandWales.The company’s
registeredofficeaddressanddetailsofthecharity’soperationsandprincipalactivitiesaregivenin the
Trustees’ Report.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompanylimited by guarantee,which is a publicbenefit entity under
FRS102,havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUK and
RepublicofIreland'andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunder the
historical cost convention.
ThecharityhasawhollyownedsubsidiaryTheGaltresCentreTradingCompanyLtd.Thecharityhas taken
advantageof the exemptionsaffordedby the SORPnotto preparegroupaccountson the basisthatthe gross
income of the group is below the group accounts preparation threshold.
Income
All incomingresourcesare includedon the Statementof FinancialActivitieswhen the charityis legally entitled
totheincomeandtheamountcanbequantifiedwithreasonableaccuracy.Specificpoliciesareapplied to
particular categories of income.
Voluntaryincomeisreceivedbywayofgrants,donations,legaciesandgiftsandisincludedinfullin the
StatementofFinancialActivitieswhenreceivable.Grantsareaccountedforasthecharityearnstheright to
considerationbyitsperformance.Forcapitalgrants,theaccountingtreatmentoftheassetacquired is
dependenton the circumstancesof each case. Where the terms of the grant are met once the specifiedasset is
acquired, the asset is is categorised as unrestricted.
The value of services provided by volunteers has not been included in these accounts.
Investment income is included when receivable.
Incoming resources from charitable activities is accounted for when the right to consideration accrues.
Expenditure
Expenditureisrecognisedonanaccrualsbasisasaliabilityisincurred.ExpenditureincludesanyVAT which
cannot be fully recovered, and is reported as part of sporting and other community activities expenditure.
Charitableexpenditurecomprisesthosecostsincurredbythecharityinthedeliveryofitsactivities and
services.Itincludesbothcoststhatcanbeallocateddirectlytosuchactivitiesandthosecostsofan indirect
nature necessary to support them.
Governancecostsincludethosecostsassociatedwithmeetingtheconstitutionalandstatutory requirements
of the charity and include the accounts fees and costs linked to the strategic management of the charity.
Allcostsareallocatedbetweentheexpenditurecategoriesonabasisdesignedtoreflecttheuseof the
resource.Costsrelatingtoaparticularactivityareallocateddirectly,othersareapportionedon an
appropriate basis consistent with the use of the resources.
continued...
-11-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES - continued
Intangible fixed assets
The website is being amortised on a straight line basis over it's estimated useful life of 5 years.
Tangible fixed assets |
|
All weather pitch - site work |
50 years straight line |
All weather pitch - surface |
10 years straight line |
Fitness suite - equipment |
5 years straight line |
Sports hall and entertainment centre - equipment |
10 years straight line |
Fixtures, fittings, equipment |
5 years straight line |
The charityhasreviewedits tangiblefixedassets.Wherethe trusteesconsiderthatthe expectedusefullife of
freeholdlandandbuildingsisinexcessof50yearsandthecarryingvalueinthefinancialstatementsis not
more than the estimatedrecoverableamount,no depreciationis chargedand, in accordancewith FRS 102, the
trusteeswillcontinuetocarryoutannualreviewsofimpairment.Nodepreciationischargedonthe Galtres
Centre building.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
Leasing commitments
Rentalspaidunderoperatingleasesarechargedagainstincomeona straightlinebasisovertheperiodof the
lease
Fixed asset investments
Fixed asset investments are stated at cost less provision for any impairment.
continued...
-12-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
3. DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
North Yorkshire Council - Sports co-ordinator
Hambleton District Council - Street lighting
Hambleton District Council - Spinning bikes
North Yorkshire Council - Sports hall lighting
4.
INVESTMENT INCOME
From trading subsidiary
Interest received
5.
CHARITABLE ACTIVITIES COSTS
Sporting and other community activites
Entertainment activities |
Direct
Costs
£
330,512
24,020
354,532 |
2024
£
11,412
53,264
64,676
2024
£
34,900
-
-
18,364
53,264
2024
£
29,000
10,650
39,650
Support
costs (see
note 6)
£
11,315
-
11,315 |
2023
£
3,136
47,946
51,082
2023
£
32,940
1,006
14,000
-
47,946
2023
£
5,700
5,905
11,605
Totals
£
341,827
24,020 |
2023
£
3,136
47,946 |
|
|
|
|
51,082 |
|
|
|
|
2023
£
32,940
1,006
14,000
- |
|
|
|
|
47,946 |
|
|
|
|
2023
£
5,700
5,905 |
|
|
|
|
11,605 |
|
|
|
365,847 |
|
Sportingandothercommunityactivitiesexpenditureincludes£19,382(£11,402inthepreviousperiod) of
irrecoverable input VAT.
Directcosts this year includes£22,956of expenditureon LED lightingfor the SportsHall.This expenditure was
fundedbyagrantfromNorthYorkshireCouncil(seeNote18).TheTrusteesconsiderthisexpensetobe a
replacementofexistingfittings,bringingtheseuptoamodernstandard,ratherthananimprovement. The
cost has therefore been included in the SOFA.
continued...
-13-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
Governance |
|
|
costs |
|
|
£ |
Sporting and other community activites |
|
11,315 |
Support costs, included in the above, are as follows: |
|
|
|
2024 |
2023 |
|
Sporting |
|
|
and other |
|
|
community |
Total |
|
activites |
activities |
|
£ |
£ |
Administration salaries |
5,416 |
4,891 |
Telephone |
220 |
191 |
Postage and stationery |
322 |
226 |
Computer supplies, support |
255 |
275 |
Accountancy and legal fees |
5,102 |
5,064 |
|
11,315 |
10,647 |
NET INCOME/(EXPENDITURE) |
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
2024 |
2023 |
|
£ |
£ |
Depreciation - owned assets |
17,378 |
18,042 |
Website costs amortisation |
1,359 |
667 |
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norforthe year
ended 31 March 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended
31 March 2023.
continued...
-14-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
9. STAFF COSTS
|
2024 |
2023 |
|
£ |
£ |
Wages and salaries |
|
|
|
|
|
Administration staff |
55,009 |
50,014 |
Outside help |
12,417 |
13,317 |
Sport and leisure co-ordinator |
30,018 |
28,600 |
Cleaners |
18,106 |
18,095 |
Fitness coaching |
8,270 |
7,226 |
|
|
|
|
123,820 |
117,252 |
|
|
|
|
|
|
Gross wages and salaries |
120,379 |
112,591 |
Social security costs |
1,855 |
2,884 |
Employers pension costs |
1,586 |
1,777 |
|
|
|
|
123,820 |
117,252 |
|
|
|
|
|
|
The average number of employees during the year was 10 (2023 - 10).
Inaddition,variouspeopleassistedonaselfemployedbasiswithcoachingofsportsandotheractivitiesat a
total cost of £39,290 (Y/E 2023: £40,342).
There are no employees who received total emoluments of more than £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Sporting and other community activites
Entertainment activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Sporting and other community activites
Entertainment activities
Total
NET INCOME/(EXPENDITURE) |
Unrestricted
funds
£
3,136
155,925
30,799
11,605
201,465
206,916
19,127
226,043
(24,578) |
Restricted
funds
£
47,946
-
-
-
47,946
32,940
-
32,940
15,006 |
Total
funds
£
51,082
155,925
30,799
11,605 |
|
|
|
249,411 |
|
|
|
239,856
19,127 |
|
|
|
258,983 |
|
|
|
(9,572) |
continued...
-15-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
26,905
2,327
1,953,225
1,955,552 |
Restricted
funds
£
(26,905)
(11,899)
73,782
61,883 |
Total
funds
£
-
(9,572)
2,027,007
2,017,435 |
|
|
|
|
11. INDEPENDENT EXAMINER'S FEES
IndependentExaminer'sfeesfortheperiodwere£5,100(2023:£4,765)plusVAT.Thisincludes£1,500for an
independent examination and £3,600 for other services.
12. INTANGIBLE FIXED ASSETS
INTANGIBLE FIXED ASSETS |
|
|
Website |
|
costs |
|
£ |
COST |
|
At 1 April 2023 |
5,000 |
Additions |
1,794 |
At 31 March 2024 |
6,794 |
AMORTISATION |
|
At 1 April 2023 |
667 |
Charge for year |
1,359 |
At 31 March 2024 |
2,026 |
NET BOOK VALUE |
|
At 31 March 2024 |
4,768 |
At 31 March 2023 |
4,333 |
continued...
-16-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
13. TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
14.
FIXED ASSET INVESTMENTS
COST LESS IMPAIRMENT
At 1 April 2023 and 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023 |
Freehold
property
£
1,839,092
-
-
1,839,092
254,205
5,780
-
259,985
1,579,107
1,584,887 |
Fixtures
and
fittings
£
469,879
8,076
(56,967)
420,988
433,291
11,598
(56,967)
387,922
33,066
36,588 |
Totals
£
2,308,971
8,076
(56,967)
2,260,080
687,496
17,378
(56,967)
647,907
1,612,173
1,621,475
Shares in
group
undertakings
£
5
5
5 |
|
|
|
|
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
The Galtres Centre Trading Company
Registered office: The Galtres Centre, Market Place, Easingwold, Yorkshire, YO61 3AD
Nature of business: Trading subsidiary
Nature of business: Trading subsidiary |
|
|
|
|
% |
|
|
Class of share: |
holding |
|
|
Ordinary |
100 |
|
|
|
|
31/3/24 |
31/3/23 |
|
|
£ |
£ |
Aggregate capital and reserves |
|
5 |
5 |
Profit for the year |
|
- |
19,810 |
continued...
-17-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade debtors
Due from trading company
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
VAT
Accruals and deferred income |
2024
£
3,127
8,501
13,583
25,211
2024
£
3,349
2,520
46,641
52,510 |
2023
£
3,770
10,729
9,079 |
|
|
23,578 |
|
|
2023
£
4,472
1,864
13,695 |
|
|
20,031 |
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated fund
Restricted funds
All weather pitch reserve
Sports hall reserve
TOTAL FUNDS |
At 1.4.23
£
1,955,552
-
1,955,552
17,530
44,353
61,883
2,017,435 |
Net
movement
in funds
£
(56,580)
-
(56,580)
-
-
-
(56,580) |
2024
£
1,856
2,784
4,640
Transfers
between
funds
£
(68,243)
80,000
11,757
(4,045)
(7,712)
(11,757)
- |
2023
£
1,856
4,640
6,496
At
31.3.24
£
1,830,729
80,000 |
2023
£
1,856
4,640 |
|
|
|
|
|
6,496 |
|
|
|
|
1,910,729
13,485
36,641 |
|
|
|
|
|
50,126 |
|
|
|
|
|
1,960,855 |
|
18. MOVEMENT IN FUNDS
continued...
-18-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Sports and leisure fund
Sports hall lighting
TOTAL FUNDS |
Incoming
resources
£
256,003
34,900
18,364
53,264
309,267 |
Resources
Movement
expended
in funds
£
£
(312,583)
(56,580)
(34,900)
-
(18,364)
-
(53,264)
-
(365,847)
(56,580) |
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
Contingency Fund
Restricted funds
All weather pitch reserve
Sports hall reserve
Street lighting
Spinning bikes
TOTAL FUNDS |
At 1.4.22
£
1,878,225
75,000
1,953,225
21,718
52,064
-
-
73,782
2,027,007 |
Net
movement
in funds
£
(24,578)
-
(24,578)
-
-
1,006
14,000
15,006
(9,572) |
Transfers
between
funds
£
101,905
(75,000)
26,905
(4,188)
(7,711)
(1,006)
(14,000)
(26,905)
- |
At
31.3.23
£
1,955,552
- |
|
|
|
|
1,955,552
17,530
44,353
-
- |
|
|
|
|
61,883 |
|
|
|
|
2,017,435 |
continued...
-19-
THE GALTRES CENTRE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Sports and leisure fund
Street lighting
Spinning bikes
TOTAL FUNDS |
Incoming
resources
£
201,465
32,940
1,006
14,000
47,946
249,411 |
Resources
Movement
expended
in funds
£
£
(226,043)
(24,578)
(32,940)
-
-
1,006
-
14,000
(32,940)
15,006
(258,983)
(9,572) |
|
|
|
Therestrictedfundsallrelatetograntsanddonationsreceivedforspecificpurposesaslaiddownby the
donors.
The sportsandleisurefundrelatesto fundingfromNorthYorkshireCouncilto assistinthegeneral well-being
and health improvementof the communitiesin the south of Hambleton,throughthe provisionof sport, leisure
and the arts.
ThesportshalllightingfundrelatestofundingfromNorthYorkshireCounciltocontributetowards the
replacementoftheLEDlightswithintheSportsHall.Thefundsreceivedwereallspentduringthe current
financial year.
Thecapitalreserverestrictedfunds(beingtheall-weatherpitchreserveandthesportshallreserve), are
writtenoffoverthesameperiodasthedepreciationperiodoftheassetforwhichtheywerereceived and
transferred to general funds.
The trusteeshavedesignated£80,000forplannedexpenditurein the next3 to 5 years.Thiswillinitially cover
the costof replacingthe windowsto the southelevationandthe Galtrescontributionto the Padel/ Pickelball
courts. This fund is unrestricted.
19. RELATED PARTY DISCLOSURES
ThetotalvalueofsharedoverheadcostschargedbyTheGaltresCentretoitswhollyownedsubsidiary The
Galtres Centre TradingCompanyLtd in respect of the use of its facilitiesamountedto £51,449(2023: £25,693).
TheGaltresCentreTradingCompanyLimitedalsopaidTheGaltresCentre£24,000(2023:£3,800)rentfor a
fitness suite and £5,000 (2023: £1,900) for the use of exercise machines.
Adonationof£5,410(2023:£nil)wasreceivedfromTheGaltresCentreTradingCompanyLtdduring the
current year.
The balanceowedby The GaltresCentreTradingCompanyto The GaltresCentreat 31 March2024 amounted
to £8,501 (2023: £10,729). This balance is interest free and repayable on demand.
-20-
THE GALTRES CENTRE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Investment income
From trading subsidiary
Interest received
Charitable activities
Entertainment income
All weather pitch
Sports hall
Senior activities
Fitness training
Coaching
Holiday activities
Pre school creche
Room hire
Billiards
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Administration salaries
Pensions
Entertainment costs
Sports and leisure co-ordinator
Coaching, other assistance
Gardening wages, materials
Cleaning wages, materials
Repairs, maintenance
Heat, light
Water rates
Carried forward |
2024
£
11,412
53,264
64,676
29,000
10,650
39,650
35,990
12,402
27,461
8,081
68,332
2,480
178
1,609
42,986
3,779
1,643
204,941
309,267
48,743
1,586
24,020
29,344
47,498
12,627
23,366
110,363
40,751
2,843
341,141 |
2023
£
3,136
47,946 |
|
|
51,082
5,700
5,905 |
|
|
11,605
30,316
10,833
24,175
15,003
58,167
2,469
264
1,804
40,508
1,659
1,526 |
|
|
186,724 |
|
|
249,411
44,015
1,777
19,127
27,784
47,524
13,317
23,065
20,095
21,124
3,084
220,912 |
This page does not form part of the statutory financial statements
-21-
THE GALTRES CENTRE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
Brought forward
Insurance
Telephone
Printing, postage, stationery
Computer supplies, support
Sundry expenses
Development costs
Depreciation
Recharges to trading subsidiary
Support costs
Governance costs
Administration salaries
Telephone
Postage and stationery
Computer supplies, support
Accountancy and legal fees
Total resources expended
Net expenditure |
2024
£
341,141
6,787
1,978
2,902
2,296
32,140
1,359
17,378
(51,449)
354,532
5,416
220
322
255
5,102
11,315
365,847
(56,580) |
2023
£
220,912
6,494
1,913
2,036
2,474
21,490
667
18,043
(25,693)
248,336
4,891
191
226
275
5,064
10,647
258,983
(9,572) |
|
|
|
This page does not form part of the statutory financial statements
-22-