Financial Statements
for the Year Ended 31 March 2024
for
Ferr
hill Communi
Partnershi
cio
Company No CE008299
Charity No 1169763

Ferr
hill Communit Partnershi
cio
Coiitents of the Financial Statements
for the Year Ended 31 March 2024
Page
Legal & Administrative Information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
7-10

Ferr
hill Communit Partnershi
cio
al and Adminlstrative Information
for the Year Ended 31 March 2024
TRUSTEES:
P Eddy
K Tait
S Bowron
A Dawbney
J Patullo
AG Hubbard
ADDRESS:
Ferryhill Sport & Education Centre
Lambton Road
Ferryhill
Co. Durham
DL17 8TB
REGISTERED NUMBER:
CE008299
CHARITY NUMBER:
1169763
ACCOUNTANTS:
Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH
Page I

Fer
hill Communit Partnershi
cio
Re
ort of the Trustees
for the Year Ended 31 March 2024
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024.
TRUSTEES
The Trustees shown below Iiave held oifice during the whole of the period from l April 2023 to the date of this report.
P Eddy
K Tait
J Patullo
AG Hubbard
A Dawbney
S Bowron
0￿ECTIVEs OF THE CHARITY
The Charity was registered on the 18 October 2016 to promote the public benefit of urban or rural regeneration of
areas of social and economic deprivation in Ferryhill.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ferryhill Community Partnership CIO is governed by the foundation constitution registered on the 19 June 2018,
which replaced the fornier CIO association constitution registered on the 18 October 2016.
Organisation
The charity trustees mana(ye the affairs of the CIO. The charity requires at least 3 and a maximum of 12 trustees who
are appointed indefmitely by a resolution passes at a convened meeting.
Day to day management of the charity is carried out by the centre mana(Fer.
ACHIEVEMENTS AND PERFORMANCE
The overall year's fmancial perfornlance has remained challenging as we continue to manage increased operating costs
in the business, which would be inline with most organisations operating in the sector.
Income has continued to grow from £292,874 (2022) £305,071 (2023) and this year £333,883 (2024) which has been
encouraging and positive for the number of customers and user groups that continue to use the facility for the local
and wider community.
Our model has started to change as we see more user groups booking space at the facility and that other organisations
relocate to the centre is positive for the local community bringing much needed services to the area. Our lunch club
remains very well supported from a local and wider community that allows more people to remain connected to each
other and prevent isolation.
The local foodbank has relocated its operations to the centre, again embedding the centre into the community helping
to support those in need at the lowest points, tooether with providing warn] spaces during the colder months,
helping members of the community to keep warn] and prevent social isolation.
Our rental income has reduced due to the failure of Wayman Developments Ltd, however this has created an
opportunity for additional bookings due to more unrestricted space available and the creation of the new kitchen area,
that will support additional revenue from food sales etc.
Page 2

Fer
hill Communit Partnershi
cio
ort of the Trustees
for the Year Ended 31 March 2024
The challenge continues to remain the overall operating costs of the centre, with energy bills playing a major part of the
operating costs, despite having updated LED lighting throughout and Solar energy contributing to our usage,
despite these iiivestinents we continue to see higlier energy bills in this trading year, driven by the costs in the
market. The increase in minimum wage has again added additional costs to the organisation with no additional
support from the government to fund and support these direct costs.
We have also taken a one~off hit in ternis of bad debt to tlie sum of £6909 due to the failure of Wayman Developments
Ltd, going into administration and due to tlie high levels of creditors, we will receive no recovery of these funds from
the adniinistrators.
Over the last twelve months revenue continues to grow, but the pressure on margin is ever increasing as we continue to
manage costs versus revenue. The revenue has grown from 2023 by £28,812, however our operating costs have
increased by £37,375, which compounded into a yearly operating loss. The organisation has been able to withstand this
due to cash reserves in £54,189 in (2023) to year end position of £26,357 in (2024)
Plans for future periods
The recommendation to the board is to hold any addition capital projects until fundin(y is secured from various funding
partners to ensure we protect cash reserves. In addition to this we will undertake a full strategic review of our
operations as we continue to look at balancing the costs versus income to ensure that the organisation is fmancially
stable for the future. The need to increase margin particularly in our Bar and Functions operations are essential as we
need to implement a further price increase. In addition, we will look at our staffmg costs and operations and make
savings where possible.
Maintenance of the building remains a large cost due to the age and we will continue to work through and prioritise
those works needed to enable the continued operation of the centre; however major works will need to be supported by
fundino
> partners to enable these developments further.
Cash flow management will be key and therefore we must reduce risk of delayed payments, therefore it will be
mandated that any booking must be paid in full 7 days before the event to ensure we have full payment and
commitment prior to the event and before committing funds witb suppliers for products and services. Invoice payment
clients are to be invoiced on time and payment in full to terni without exception.
The trustees declare that they have approved the trustees, report above.
ON BEHALF OF THE CHARITY'S TRUSTEES:
Andrew Hubbard - Chair of the Board of Trustees
Date:
Page 3

Ferr
hill Communit Partnershi
cio
Inde
endent Examiners Re
ort to the Trustees of
Ferr
hill Communit Partnershi
clo
I report on the accounts of Ferryhill Coinmunity Partnership for the year ended 31 March 2024 set out on pages 2 to
10.
Respective responsibilities of trustees and iiidependent examiner
The charity's trustees are responsible for tlie preparation of the accounts. The trustees consider that an audit is not
required for the year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent
examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under
section 145(5)(b) of the Charities Act), and
to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An
examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and
seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a
'true and fair, view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that in, any material respect, the requirements
to keep accounting records in accordance with section 130 of the Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of
the Charities Act have not been met" or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts
to
be reached.
Lynsey Ibbetson FCA
Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH
Date: ...
Page 4

Ferr
hill Communit Partnerslii
cio
Statement of Financial Activities
Year Ended 31 March 2024
Notes Unrestricted Restricted
Funds
Funds
Total
2024
Total
2023
INCOME
Grants and Donations
Income from charitable activities:
Sport & Education
369
6,960
7J29
4,463
333,514
333,514
300,608
Total income
333 883
6,960
340 843
305,071
EXPENDITURE
Charitable Activities
363,136
6,960
370,096
333,459
Other Expenditure
2,585
2,585
1,847
Total expenditure
365,721
6,960
372,681
335,306
Net income and net movement in
funds for the year
(31,838)
(31,838)
(30,235)
Transfer between funds
Reconciliation of funds
Total funds brouJo t forward
10
8,767
8,767
39,002
Total funds carried forward
10
23,071
23,071
8767
Page 5

Fer
hill Communit Partnershi
Balance Sheet
Year Ended 31 March 2024
io
2024
Total
2023
Total
Notes
Unrestrlcted Restricted
CURRENT ASSETS
Stock
Debtors
Cash at bank
Total Current Assets
4,195
6,461
26,357
37,013
4,195
6,461
26,357
37,013
4,286
11,590
54,189
70,065
Creditors Amounts falling due
within one year
(33,137)
(33,137)
(28,492)
Net Current Assets
3,876
3,876
41,573
Total assets less current liabilities
3,876
3,876
41,573
Creditors: Amounts falling due
after more than one year
(26,947)
(26,947)
(32,806)
Net assets
23 071
23,071
8,767
Funds
Restricted
Unrestricted
10
(23,071)
(23,071)
8,767
Total charity funds
23,071
23,071
8,767
The financial statements were approved by tbe trustees on .
. and were signed on its behalf by:
A Hubbard- Chair of the Board of Trustees
Page 6

Ferrhill Communit Partnershi
cio
Notes to the Financial Statements
for the Year Ended 31 March 2024
ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention with items recognised
at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the 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 l January 2015) ~ (Charities
SORP (FRS 102)) and tlie Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
Fund accounting
Unrestricted funds are general funds which are for use at the discretion of the trustees in furtherance of the
general objectives of the charity.
Restricted funds are funds to be used in accordance with specific restrictions imposed by donors. Any
balance remaining unspent at the end of the year must be carried forward as a balance on that fund.
Incoming Resources
All incoming resources are included in the statement of fmancial activities when the charity is entitled
to the income and the amount can be quantified with reasonable accuracy.
Voluntary Income
Voluntary Income is received by way of grants and donation and is included in the financial statements
when the charity is legally entitled to the income and the amount can be quantified with reasonable
accuracy.
Governance Costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements
of the charity and include accountancy fees and costs related to the strategic management of the
charity.
Debtors
Trade Debtors and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discount due
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event
that will probably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measured or estimated reliably. Creditors and provisions are nonnally recognised at their settlement
amount after allowing for any trade discount due.
Pension costs
The charity operates a defined contribution scheme. Contributions payable to the scheme are charged to the
statement of fmancial activities in the period to which they relate.
Page 7

Ferr
hill Communit Partnershi
cio
Notes to the Financial Statements
for the Year Ended 31 March 2024
Grants and Donations
Unrestricted Restricted
Funds
funds
Total
2024
Total
2023
Grants receivable
Donations
6,960
6,960
369
4,463
369
369
6,960
7329
4,463
Incoming from charitable activities:
Unrestricted
Funds
Total
2024
Total
2023
Bar Income
Cleves Room Hire
Dance Studio Hire
Sports Hall Hire
Rental Income
FIT Rebates
Sundry Income
207,259
18,305
20,095
49,597
36,300
1,958
207,259
18,305
20,095
49,597
36,300
1,958
192,932
11,289
13,179
27,689
53,619
1,900
333,514
333,514
300,608
Expenditure
Charitable
Charitable
Activities
Activities
Unrestricted Restrieted Governance
Total
2024
Total
2023
Costs directly allocated to activities
Wages & salaries
Rent & rates
Light & heat
Cost of goods sold
Telephone, Broadband & TV
Postage & Stationery
Cleaning
Repairs & maintenance
Advertising
Insurance
Sundry expenses
Accountancy
Professional fees
Bank loan interest
Bad debt
Bank charges
139,355
5,690
44,212
127,466
11,134
415
2,231
22,962
261
1,194
621
6,960
146JlS
5,690
44,212
127,466
11,134
415
2,231
22,962
261
1,194
621
1,945
640
631
6,909
55
126,927
8,545
42,770
112,674
9,520
406
1,625
27,939
186
2,144
12
1,262
585
631
1,945
640
631
6,909
55
80
363,136
6,960
2,585
335,306
372,681 ￿06
Page 8

Fer
hill Communit Partnershi
cio
Notes to the Financial Statements
for the Year Ended 31 March 2024
Total resources expended
Total
2024
Total
2023
Salaries and wages
Social Security
Pension
142,961
2,050
1,304
124,881
932
1,114
146 315
126 927
No employee received emoluments above £60,000 in the current or previous year.
The charity trustees were not paid or received any other benefits from employment in the current year
or previous year.
The average number of employees during the year amounted to:
2024
No.
2023
Management staff
Bar and Hall staff
11
10
STOCK
Total
2024
Total
2023
Bar stock for resale
4,195
4,286
DEBTORS
Total
2024
Total
2023
Trade debtors
Other debtors
1,363
5,098
7,388
4202
6,461
11,590
Page 9

Ferr
hill Communit Partnershi
cio
Notes to the Financial Statements
for the Year Ended 31 March 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Total
2024
Total
2023
Bank Loan
Trade creditors
Taxation and social security
Other creditors
6,096
19,803
1,969
5,269
6,096
11,579
3,724
7,093
33,137
28 492
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Total
2024
Total
2023
Bank loan
26,947
32,806
10. FUND MOVEMENTS
Incoming
resources
Outgoing
resources
Balance at
31 March
2024
l April
2023
Transfers
Restricted
Unrestricted
General Funds
6,960
(6,960)
8,767
333,883
(365,721)
(23,071)
TOTAL FUNDS
8,767
340,843
372,681
23,071
11. ANALYSIS OF NET ASSETS
Tangible
Fixed
Assets
Other Net
Assets
Total
Restricted
Unrestricted
(23,071)
(23,071)
23,071
23,071
Page 10