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2025-07-31-accounts

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

Charity registration number 1168134 (England and Wales)

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

CONTENTS

Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 17

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025

The Trustees present their annual report and financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

TERMINOLOGY

For the avoidance of doubt, please note that hereafter:

Objectives and activities

We provide social, cultural, sporting and recreational activities and forums for discussion and debate for the personal development of students. We are also committed to equality by pursuing equal opportunities and equal access policies to our student associate members in line with our democratic operation.

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

We have adopted a strong democratic internal structure that places its operation securely in its student associate members’ hands. This structure allows us to work for the public benefit. Our standpoints on equality and openness allow us to foster a culture of acceptance amongst student associate members, many of whom volunteer in some capacity for the benefit of others in The University, or as part of The JCR, which allows us to be strong members of the local and academic community. We keep this public benefit in mind when organising large social events that are open to all members of the public, and support the welfare of our students so they can continue to work at their studies and remain part of the community in Durham.

When we fund sports and societies this allows student associate members to try new sports or activities in which they would otherwise not have had the opportunity to participate. We have over a hundred volunteer positions that are elected or appointed, allowing anyone to apply irrespective of previous experience, and enrich the community as well as benefit them individually.

We take no political stance other than to represent our student associate members in order to maintain an inclusionary policy. We operate library and gym facilities that can be accessed by our student associate members to enhance their educational or recreational activities.

From 1 April 2008, section 4 of the Charities Act 2006 requires all charities to meet the legal requirement that its aims are for the public benefit. The Charity Commission states that there are two principles to be met in order to show that an organisation’s aims are for the public benefit: firstly, there must be an identifiable benefit or benefits and secondly that the benefit must be to the public or a section of the public. The Trustees confirm that they have complied with the duty to have due regard to The Charity Commissioner’s guidance on public benefit.

Achievements and performance

As always, the Society was committed to organising a wide range of inclusive social events, furthering the social education of students during the academic year 2024-2025.

Daniel Mercer was elected President of the Society for the 2024-25 academic year. His term ran from July 2024 to July 2025. Prior to his election to this role, he had made substantial contributions to the JCR in a number of roles alongside his academic studies, including as Senior Welfare Officer.

We started the academic year with Fresher’s Week. We ran both Anti-Racism Workshops alongside Durham Students Unions’ People of Colour Association, and our Consent Awareness workshops ran by our Student Welfare team in conjunction with St Cuthbert’s Society’s College Officers and external non-profit gender violence charity Emily Test.

The week was a success with high engagement across the student body with the events that we ran. We remain dedicated to organising a wide range of inclusive social events, Fresher's Week is our first set of these events. With an Alcohol Free activity each night of the week concurrent with our Alcohol inclusive events, we provided a range of events for a range of different needs and preferences such as bingo, a movie night and paint and sip. A Sports and Societies Fair and Welcome Talk was also held to introduce incoming students to the opportunities available to them.

Throughout the rest of the academic year we ran a number of successful events that succeeded in bringing students together, a highlight being Oktoberfest, which is held on-site.

Our Outreach Committee ran a number of successful charity fundraising events. This included a 12 Days of Outreach Campaign over the Christmas period which involved selling cookies, a quiz and hosting a mask decorating event, all to raise funds for Durham Hygiene Bank, a charity that delivers essential hygiene and personal care products.

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

We also had our 11th Annual Charity Fashion Show, St Cuthbert’s Society Charity Fashion Show is a Fashion Show put on by a committee of Volunteers and Student Models in aid of local charities. This Fashion Show was in aid of DASH, Durham Action against Single Housing. Since 1972, DASH has provided accommodation with support to people across County Durham who are homeless or are about to become homeless. The Committee’s fundraising efforts extended to both individual Pre and Post event fundraisers, such as an open mic night, and the show itself.

Michaelmas Ball was held at Beamish Hall and attended by over 400 students, there was a band, a photobooth and fireworks. On-site formals included the Livers Out Formal, the return of the St Patrick’s Day Formal and the InterMCR Murder Mystery Formal. To encourage participation at a financially difficult time for many students, we made the decision to subsidise the cost of formals held in Epiphany Term by 25%.

Our largest in-College fundraising event was again the Feast of St Cuthbert, which is held in College. It was attended by over 300 students, and featured a three-course meal, live music, a photo booth and inflatables. £1 of every ticket sold was donated to a charity chosen by our Outreach Committee.

We continued exploring ways ticket prices can be lowered and our reliance on external providers reduced. For example, we continue to invest in our own technology equipment which we use ourselves but also rent out locally, including to other Durham colleges.

The Trustees have remained focused on the JCR’s financial sustainability. This was the second academic year following the decision of the Trustees to cease offering a second Sabbatical Officer role - the Finance & Compliance Officer (FCO) position, saving the JCR the substantial cost of a second annual salary and allowing the savings to be used more effectively to serve members.

We continued to roll a small proportion of the annual savings here into outsourced professionals to undertake some of the FCO work more cheaply, and to a more assured professional standard.

The former FCO role was again replaced with a volunteer student-role, that of the JCR Treasurer, with the 24/25 academic year the second year for this new model. The move continued to be a success with a dedicated and JCRfocused volunteer, Safiyyah Ghafoor, taking on the role. She continued work to create efficiencies and modernise JCR processes. Throughout the year, Safiyyah Ghafoor chaired student Finance Committee and was supported by the Board’s own Finance Committee.

For the 2024-25 year, the price of the JCR Levy was £172.50 for undergraduate students and £57.50 for postgraduate students.

With the JCR Levy representing a critical part of our income, the majority of which is received at the start of the academic year, a conscious decision was made by the President and Executive to focus on the number of JCR Levies sold to incoming first-year students. This drive took place in advance of Fresher’s Week and over move-in weekend and resulted in an uptake to the levy by 92% of undergraduate students. This was a significant achievement, that placed the charity on strong financial footing from the start of the year.

Throughout the year, we ran number of campaigns for students. These have included: Housing campaign, to support livers-out required to sign tenancy agreements, Sexual Health and Guidance Week, Movember, for men’s mental health and testicular cancer, Sexual Violence Awareness Week and Festive Holidays campaign, to support students over the holidays.

Further, we ran a Study Buddy Scheme, pairing an international students with a home student to foster academic

support and new friendships.

During exam season we ran our ‘Stress Less’ campaign, which involved providing wellbeing resources such as free care packages and activities including free craft evenings, a visit from an ice cream van and Wednesday Welfare Yoga allowing students to come together and relax during what can be a challenging time of year.

Following the conclusion of examinations, our annual Summer Ball was held in June at Derwent Manor Hotel. It was attended by 670 students and featured a three-course meal, live music and fairground rides. £1 of every ticket sold was donated to a charity chosen by our Outreach Committee.

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Cuth’s Day was held at 12 South Bailey. It represented a celebration of the JCR and marked the end of the academic year. It featured free food, live music, entertainment and a silent disco.

Both events were a success, involving hundreds of students across every year group, providing an excellent ending to the academic year.

The JCR runs over 30 different sports clubs and societies which allow student associate members to try new sports or interests, thereby enriching their educational and cultural experience during their time at Durham University. From Big Band to Men and Women’s Rugby to Gardening, we remain committed to ensuring these opportunities are accessible to all. Sports and societies continued to have good engagement and participation. We operate on a 50:50 subsidy system, whereby half the cost of a student associate member taking part in a sport or society is covered by the individual, and half is covered by the JCR. This means that we can keep most sports and societies memberships below £15 for the year. Where membership of a sport or society costs over £20 per year, any additional cost over £20 is matched 1:3 by the JCR. This is reinforced by the JCR’s Participation Fund, a nonmeans tested fund which any JCR member can apply to in order to receive up to £200 funding towards participation in a JCR or University sport or society. We also have an Event Accessibility Fund, Students with Disabilities Fund, Gender Expression Fund and Postgraduate Event Accessibility Fund. We held our Sports & Socs Formal, where we give out awards including Society of the Year, Postgraduate Contribution and Most Dedicated Committee Member to recognise the invaluable contribution of volunteers who worked so hard to keep The Society operating throughout the year.

We maintained the services we typically offer, including peer support by trained welfare officers, sports teams and societies, gyms, library, which is open seven days a week, a music room, and representation of student views to The University and beyond. Cuth’s News was published weekly, enabling members to receive weekly updates on the JCR’s activities. The emphasis on these, as with all other activities of the JCR, is that of student leadership and ownership. Our student associate members are expected and encouraged to initiate, participate in, and lead our activities.

The Trustees would like to express their gratitude to Daniel Mercer who served in the role of President for the 2024-25 academic year with care and commitment and to Safiyyah Ghafoor for her professionalism as Treasurer.

Financial review

As the financial statements below indicate, The Charity has a sound financial base. One of the aims of The Trustees is to secure the long-term future of The Charity by careful and prudent management of its assets. As of 31 July 2025 the charity has net assets / fund balances of £196,457 (2024: £162,625).

The income for the year was £230,273 (2024: £238,840), expenditure for the year was £196,441 (2024: £210,687), leaving a net surplus for the year of £33,832 (2024: £28,153).

Our reserves remain invested in notice savings accounts, so that we earn a reasonable interest rate while maintaining access within 90 days to our funds, should we need or decide to call on them. The institutions we deposit with are covered by the Financial Services Compensation Scheme, and our deposits are below the perinstitution cap for that scheme.

It is of course our intention to avoid running a deficit at all costs, and all current projections for the upcoming year show that we should end up in a healthy position.

Reserves policy

We aim to hold reserves at least equal to that of the Levy and the Composition Fee that we receive from Durham University, which helps us to ensure that we could continue to meet our financial commitments to the Sports and Societies and contractual obligations to our employees if we received no funding from The University and none was received from our student associate members. This currently equates to £69,614 (that is the £16,944 university grant and the £52,670 raised from student levies).

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Plans for future periods

We continue to work closely with our fellow independent common rooms, including through Presidents’ Committee, to engage with the University in a productive way.

During the 2024-5 academic year, the Board built a strategy to improve engagement with Alumni, including to support fundraising to further our charitable aims. We continue to receive support from an alumnus to support our Music Room, and the performance of live music at the Society, and are keen to find further interested donors.

Last year’s report said our financial focus going forward was to retain our financial sustainability, whilst also being considerate of the frequency of payment required by members to engage in our activities. This remains a core tenet of our strategy to increase participation and, in turn, meet our objective to support the personal development of students.

Diversifying the Board particularly that of external Trustees, in terms of gender, race, experiences and professional expertise, amongst other areas, remains a priority.

We all aim to run St Cuthbert’s Society JCR well, and to hand it on to those that follow us in a better condition than we found it.

Structure, governance and management

Throughout the period the organisation was controlled by its governing document - the St Cuthbert’s Society JCR Constitution - adopted on 1 January 2016. The St Cuthbert’s Society JCR Constitution requires there to be a minimum of three external Trustees. The byelaws require there to be up to 7 external Trustees and up to 2 student Trustees, as well as the President of the Society, the JCR Treasurer and one other elected member from within the Executive Committee to sit on the Board with the specific aim of using this role to provide further diversity to the Board.

The external Trustees are appointed by interview, the student Trustees are appointed by election by The JCR student associate membership, other than the Executive Committee student Trustee who is elected from within the Executive Committee of the JCR. The term of Trustees is a maximum of 4 years for external Trustees and 1 year for student Trustees. External Trustees may serve a maximum of 2 terms. Student Trustees may serve a maximum of 2 terms.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Rebecca Malczewski (Chair) November 2022 – present (Chair from June 2025)
Gregory Kyle-Langley (Chair) January 2022 – June 2025 (Chair from March 2023)
Daniel Mercer (President) July 2024 – July 2025 (President from July 2024)
Thea Cave (President) June 2025 – present (President from July 2025)
Thomas Francis Coker September 2022 – March 2026
Anthony Charlton November 2022 – present
Karri Kasperi Vuori November 2022 – present
Safiyyah Ghafoor* September 2024 – present (Treasurer from July 2024)
Madeline Lewis-Jones* June 2025 – present (Treasurer from July 2025)
Thomas Ross* June 2025 – present
Lauren Evans* June 2025 – present
Alfred Hatton June 2025 – present
Hannah Brown June 2025 – present
Thomas Wyatt June 2025 – present
Rahaf Rifai June 2025 – present
Jack Simmonds* July 2023 – June 2025
James Charles Bamford* June 2024 - July 2025

(* indicates student Trustees)

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Induction and training of new Trustees

Student Trustees are elected with a vote of student associate members following a general meeting. The Executive Committee student Trustee is elected to their Executive Committee role following a general meeting, and then elected to the Board of Trustees once the Executive Committee is called to meet. External Trustees are voted upon in general meetings of the Trustee Board, holding their position for up to four years.

The day-to-day management of The Charity is undertaken by The JCR Executive Committee, chaired by The President of the Society.

Organisational structure

The JCR elects student associate members to serve on The JCR Executive Committee, which acts as a Management Committee.

The JCR Executive meets at least thrice-termly and there are various additional committees, including those responsible for overseeing or managing matters related to finance, music facilities, governance, outreach and welfare etc.

All major financial decisions must be ratified by a JCR General Meeting, open to all student associate members, with the majority of policy, planning, and strategic decisions being reported on or ratified in JCR Meetings.

The largest financial decisions must be referred to, and approved by, the Board before the charity is committed. Prior to this, such matters will have been discussed by The JCR Executive who may seek guidance from The Trustees where appropriate.

Minutes of Executive and General Meetings of the JCR are freely available on our website. JCR meetings are also streamed live, enabling all students to join remotely. Operational decisions on a day-to-day basis are made by the appropriate people who have responsibility for their areas of activity.

Other matters

Registered Charity Number: 1168134

Principal address:

Durham University St. Cuthbert Society 12 South Bailey Durham Co. Durham DH1 3EE

Independent examiner:

Robert Ribchester, FCA MA RMT Accountants & Business Advisors Ltd Finchale House Belmont Business Park Durham DH1 1TW

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Relationship with wider network

The Society elects a member to sit on Durham SU Assembly, their major policy-making body. The Durham SU also provides wider representation for student associate members to the University, and offers guidance and support to the JCR.

The JCR is partnered with St. Cuthbert’s Society, one of Durham University’s colleges, both of which provide space and facilities to student associate members. We partner with The University on the organisation of certain activities and events, such as post-offer open days, and academic and social events. We accept funding from Durham University, based on the number of students within St Cuthbert’s Society. We have strong links with St Cuthbert’s Society Senior Common Room, The Fellows of St Cuthbert’s Society and St. Cuthbert’s Association (an organisation for alumni of St Cuthbert’s Society).

Daniel Mercer was also elected Presidents’ Committee Chair for the 2024-25 academic year, which is a group of seventeen Common Room Presidents, each representing a Durham University Common Room. As Chair, Daniel Mercer also joined the Students' Union's Officer Committee and Community Committee. The Presidents’ Committee met weekly and with the Pro Vice Chancellor of Colleges monthly with the goal to enhance the wider student experience and collegiate life at Durham University.

The JCR is a member of NCVO (The National Council for Voluntary Organisations).

Risk management

The Trustees have a duty to identify and review the risks to which The Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

We have our Business Continuity Plan, as well as our process for reviewing policies to ensure that they are updated on a regular basis.

We work with Durham University as a health and safety business partner, complying with relevant University regulations to collaboratively safeguard our student associate members and manage reputational risk.

The Trustees' report was approved by the Board of Trustees.

Rebecca Malczewski

Chair of The Board of Trustees St. Cuthbert’s Society JCR

29 May 2026

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ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

I report to the Trustees on my examination of the financial statements of St Cuthberts Society Junior Common Room (the charity) for the year ended 31 July 2025.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Robert Ribchester FCA MA

RMT Accountants & Business Advisors Ltd Finchale House Belmont Business Park Durham

DH1 1TW

30 May 2026

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ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 17,964 20,987
Other trading activities 4 208,087 215,888
Investments 5 4,222 1,965
Total income 230,273 238,840
Expenditure on:
Charitable activities 6 196,441 210,687
Total expenditure 196,441 210,687
Net income and movement in funds 33,832 28,153
Reconciliation of funds:
Fund balances at 1 August 2024 162,625 134,472
Fund balances at 31 July 2025 196,457 162,625

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

BALANCE SHEET

AS AT 31 JULY 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
16		 2025
£
1,792
195,446
197,238
(2,206)		 £
1,425
195,032
196,457
196,457
196,457		 2024
£
3,117
161,481
164,598
(4,960)		 £
2,987
159,638
162,625
162,625
162,625

The financial statements were approved by the Trustees on 29 May 2026

Rebecca Malczewski

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

The charity is a Public Benefit Entity as defined by FRS 102 .

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 1,020 5,231
Grants 16,944 15,756
17,964 20,987
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Social event income 141,858 152,240
Membership subscriptions and sponsorships 8,835 12,397
Levies 52,670 46,582
Facilities income 4,724 4,669
Other trading activities 208,087 215,888

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 4,222 1,965

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Depreciation and impairment 1,562 5,652
Sports, clubs and societies expenditure 18,357 23,922
Social events expenditure 120,929 136,992
Facilities expenditure 12,078 12,134
Committees and awards 5,333 5,247
Donations - 1,837
Bank fees 70 90
Administration expenditure including wages 35,275 22,185
193,604 208,059
Share of support and governance costs (see note 7)
Governance 2,837 2,628
196,441 210,687
Analysis by fund
Unrestricted funds 196,441 210,687
7 Support costs allocated to activities
Charitable Total
activities
2025 2024
£ £
Governance 2,837 2,628
8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,837 2,628
Depreciation of owned tangible fixed assets 1,562 5,652

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Four of the trustees (2024: seven) were paid expenses during the year at the value of £1,080 (2024: £715).

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Cost
At 1 August 2024
At 31 July 2025
Depreciation and impairment
At 1 August 2024
Depreciation charged in the year
At 31 July 2025
Carrying amount
At 31 July 2025
At 31 July 2024
13
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Fixtures and
fittings
£
29,687
29,687
26,700
1,562
28,262
1,425
2,987
2025
2024
£
£
-
720
1,792
2,397
1,792
3,117		 Fixtures and
fittings
£
29,687
29,687
26,700
1,562
28,262
1,425
2,987
2025
2024
£
£
-
720
1,792
2,397
1,792
3,117
29,687
26,700
1,562
28,262
1,425
2,987
2024
£
720
2,397
3,117

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

14
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
15
Trade creditors
Other creditors
Accruals
15
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 August 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 July 2025		 2025
£
154
-
259
(606)
2,399
2,206
2025
£
-		 2024
£
-
2,500
-
-
2,460
4,960
2024
£
2,500
2025
£
-
2025
£
2,500
(2,500)
-
-		 2024
£
2,500
2024
£
-
-
2,500
2,500

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources At 31 July
2024 resources expended 2025
£ £ £ £
General funds 162,625 230,273 (196,441) 196,457

Docusign Envelope ID: DF7493FC-68F1-8662-8324-F9B4A0479EBD

ST CUTHBERTS SOCIETY JUNIOR COMMON ROOM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

16 Unrestricted funds (Continued)
Previous year: At 1 August Incoming Resources At 31 July
2023 resources expended 2024
£ £ £ £
General funds 134,472 238,840 (210,687) 162,625
17 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).