FiiiaThcial Statements for the Year EJ)ded 31 March 2025 for Fer hill Communit Partnershi cio Company No CE008299 Charity No 1169763
Fer hill Communi Partnei'shi cio Coiitents of the Fffinancial Statements ror theyear Ended 31 Mareh 2025 Page Legal & Adniinistrative lilfoi'mation Report of the Trustees Independent Examiiier's Report Statement of Financial Activitie Balance Sheet Notes to tlle Fiiiancial Statements 7- 10
Fer hill Coniniuni Pai'tnershi )ClO ill alid Adininisti'ative Information foi. tlie Yeaj. Elided 31 Marcli 2025 TRUSTEES: IC Tait L Fellows S Bowion A Dawbney J Patullo 14 Wilkinson A Cockburn ADDRII SS: Feriyhill SpoTt & Educatioii Centre Lainbtoii Road Fenyhill Co. Durham DL17 8TB REGISTII , D NUMBER: CE008299 CHAJUTY NUMBER: 1169763 ACCOUNTANTS: Little & Neal 37-38 Market Street Ferryhill Co. Durham DL17 8JH Page I
Ferr hill Commiiiiit Partnershi cio Re ort ol Éhe Trustees for the Year £1 Trded 31 March 2025 The Tiustees presenL their i'epoit with the financial statements of the ch'Ity for the year ended 31 March 2025. TRUSTEE4 S The Trustees showii below liave held office durino the whole of the period from l April 2024 to ihe date of this report. K Tait L Fellows J Patullo H Willciiison A Dawbiiey S Bowron A Cockbu OBJECTIVCS ofi THE CFtARITY The c.harity was reoislered oli the 18 October 2016 to promote tlie PLiblic benefil of urban or rural regeiieration of areas ofsocial and econoillic deprivatioii iii Ferryliill. STRUCTURE, GOVERNANCE AND MANAGEMII NT Governing document Fei'ryliill Coininunity PartneiElIKp CIO is governed by the foundation constilulion registered on the 19 June 2018, wh(ch irplaced the fomer CIO association constitiition registered on tlie 18 October 2016. Organisation Tlie charity trustees manage the affaiiE of th¢ CIO. The charity i'eqLiiTe5 at least 3 and a Inaximllin of12 trustees who are appointed indefinitely by a re501ution passes at a convened meetiiig. Day to day inanatseinent of die chwity is canied out by the centre manager. ACHIEVCI MENTS AND PERFORMANCC The overall year's financial perfoi'manc¢ has reniained challenging as we continue to manage increased operating costs in the business, which would be inline with most oi'ganisatioiis operating in the sector. Income has continued to 0W froni £305,071 (2023) £340,843 (2024) and this year £397,284 (2025) which has been eiicouraging and positive for the nuniber of customers aiid user groups that continue to use the factlAty for the local and wider commullÈty. Operdting costs wiitinue to be our niain focus of attention as we head into a new financial year. Faced with eneiEy price increases combined with iiation miiiimiim wages and iiationaI iiisui-ance costs announced in the aiitumn budget we expect to see our expenses incr¢as¢ by approximately IOO/o in th¢ next fii)ancial year. This inevitably increases the PlfS5ure on our administrative team to iinpTove oui- income accordintrly. We have faced major repall. costs in the current year, Oni$t wbicb was £31,895 on the passengei. lift refit. Fortunately, compeiisation frorn oui. insurance covered tliese costs. Having shown losses of £30,235 (2023} £31,838 (2024) we are pleased to i'eport a major impi'ovemeiit with a loss in 25 of £3,716. This in mainly due to the hard woj'k of our administration t¢am. Page 2
Ferl. hill Cotnmuiii Partnershi CJO ort of tlie Trustees for tlie Yeai. Ended 31 mai.ch 2025 A nun)ber ot I.ge pi'ofitable events are booked for the coming years and we are therefoir optiniistic that we cali maiiitain the CLlI-renl improveinents iii our accounts. Plans for future periods Tlie recommendation to the board is to hold any addition capital projects until fui)ding is secured froiii V<1rious funding partners to ensure we protect casli Irserves. lii addition to this we will undertake a full stt2tegic review of our ope17tions as we continue to look at balaiicing the costs versus iiicome to ensure that the organisation is financially Stable for the futur¢. Th¢ need to inci'ease inaiEiii particularly in our Bar and Fun¢tions operations w'e essential as we need lo implement a further pi'ice increase. In additioii, we will look at OLir staffino costs aiid operatioiis and niake savii)gs whei'e possible. Maiiitenance of the biiildiiig remains a large cost due to the age and we will continue to woi-k tlirougli and pi'ioritise those works need¢d lo enable Llie continLied operation ot.the centre. however major works will need to be supported by fiuiding partners to enable these developmeJ]ts fuitliei-, Cash flow Inanagement will be key and thei-efoi'e we niiist I'ediice i'isk of delayed panents, thei-efore it will be mandated tliat any bookllig niLlSt be paid in full 7 days befoi'e the event to ensure we have full Pciyment and conimitineiit pi-ior to the event and befoke coinmtttin(t funds with siippliers for pi'oducts and sei'vi¢es. Iiivoice payment clieiits are to be tnvoiced on tiine and payinent iii full to terjn witlioiit eYc¢ption, The trustees declare tliat they have appi'oved die triistees, report above. OIY BEHALF OF THE CHARITY'S TRUSTEES: K Tait- ChaKE' of the Board of Trustees Date.. 05 June 2025 Page 3
Fei'r liill CommiiDit Parlnei'shi clo Inde )endeiit El xamiiiers Re ort to tlie Trustees of Fei'r hill Coimmiiiiit Partiierslhi cio I report on the accou])ts of Fei'ryhill Community Partjiership for the year ended 31 March ?025 set out 011 pa(yes 2 10 10. Respective responsibilities of trustees and independent examiner The chai'ity's trustees w'e i'esponsible for the preparation of the accouiits. The trustees coiisidei. that ai) audit is not reqiiired for tlie y- uiidei- section 144 of tlie Ch1¢ rities Act 2011 (the Cl)arities Act) and that an independent examinalion is needed. It is niy responsibility to.. examine the accounts under section 145 of tlie CbaTlties Act, to follow the procedures lic id dowii in tlie oenera] Directions givet] by the Charity Cominission (under section 145(5)(b) of the Cliaritles Act), and lo state whediei- particular inatters have come to my attention. Basis of independent examiner's statement My examination was cai'i'ied out in accoi'dance with general Directions given by the Charity Cominission. An exaniination incliides a review of the accounting ircords kept by d)e charity and a coniparison of the accouiits PTeseJ)ted wilh tl)ose records. It also includes considaxtion of aiiy uniisual items oi disclosiii'es in the accounts, and seekino explaiiations from the truslees coiiceniing ]Y such inatters. The procedures iindertaken do not pi'ovide all tlie evideiice tl)at would be required in ali aiidit a'nd consequently no opinion is given as to whether the accounl's present a 'true and faiT' view ]d the report is limited to thos¢ matters set out lll the statemeiit below. Independeilt exfiminer's statement Iii conn¢¢tion witli niy exat]iination, no matter has coine lo my attention.. which gives me reasonable cause to believe tbat 1.11, any material respect, the requireinents - to keep accoL]nting recoL'ds in accordance with section 130 of the Cliarities Act. to prepLu'e ac¢ouiits whicli accord witli the accounting records and comply with the accountiLig requireinents of the Cliarities Aci have not beeii met,. or to which, in tny opinion, attention should be drawn in order to enable a pi'oper understanding of the accounts to be reached. Lynsey Ibbetson FCA Little & Neal 37-38 Market Street Fenyhill Co. Durham DL17 8JH Date: .05 June 2025 Page 4
rier Partiierslii cio Statemeiit of Finaneial Activities Year nded 31 Marcli 2025 Notes Unrestricted Restricted Fiinds Funds Total 2025 Total 2024 INCOM Grants and Donatioiis Income from eharit#ble aclivities: Spoi't & Educatioii 2,824 2,824 7,329 394,460 394,460 333,514 Total income 397,284 397,284 340,843 EXPENDITURC Charitable Activities 399,251 399,251 370,096 Othei. Expenditure 1,749 1,749 2,585 Total expenditiire 401,000 401,000 372,681 Net income and net movement in fuiids for tbe year (3,716) (3,716) (31,838) Trallsfer between funds Reconciliation of funds Total funds biought fonvard 10 {23,071) (23,071) 8,767 Total funds earried forward io 26,787 26,787 23,071 The financial statements were approved by the trustees on 05 June 2025. and were signed on its behalf by.. Page 5
Ferr hill Communit Partntrshi Balance Slieet Year Ended 31 Mai'eh 2025 cio 2025 Total 2024 Total Notes Unresti'icted Restrlcted CURREI f4T ASSETS Stock Debtors Casli at bank Total Current Assets 4,867 11,714 11,965 28046 4,867 11,714 11,965 28,546 4,195 6,461 26J57 37,013 Creditors Amounts falling due within one year (32,185) (32,185) (33,137) Net Current Assets (3,639) (3,639) 3,876 Total assets less current liabilities (3,639) (3,639) 3,876 Creditors: Amounts falliilg di1¢ after more than one year (23,148) (23,148) (26,947) Net assets 26,787 26,787 23,071 Fullds Restricted Unrestri¢ted io (26,787) (26,787) (23,071) Total charity funds 26,787 23,071 The fancIal statements were approved by the ts"ustees on 05 June 2025. aiid were signed on its behalf by: K Tait- Chair of the Board of Trustees Page 6
Ferrhill Cominuiii Partnei"shi cio Noi¢s to tlie Financi211 Statemejits for the Year Elided 31 March 2025 ACCOUNTING POLICIES Aceounting convention The flliancial stalemenls liave beeii pt'epared undeT the historical cost convei)tiOLI With itenis recogiiised at cost or transaction value unless otlien¥&se stated in the relevaiit notes to these accounts. Tlie accoiints have been prepared in accordance with the Accounting and Reportiiig by Charities: Statement of ReCoinended Practice applicable to charities preparllig Iheii, accounts in accordance wiLh the Financial Repolling Staiidw'd applicable in tbe UK ]d Repiibli¢ of Ireland (FRS 102) (effective l January 2015) - {Charities SORP (FRS 102)) and tlie Fii)ancial Reporting StandaTd applicable in the UK and Republic of Ireland (FRS 102) Fund accounting Urkrestricted funds are general funds which al'e for use at the discretion of the trustees in furtherance of the general objective5 of the charity. Restiicted ndS ar¢ fun(ts to be used in accordance wid) specific restrictions imposed by doiiors. Any balaiice i'emaining uiispent at the end ot Ihe yew. musl be carried foiivard as a balanc¢ on that tiind. Incoining Resoiirces All in¢on)ing I'esources are iiicluded in die statement of financial activities when the charity is ¢ntitled to the incoine and the amount can be quantified with reasonable accuracy. Voluntary Income Volunt8ry Incoine is received by way of grants and donation and is included in the financial stc1temeiits when the charity is le(yally ei)titled to the incom¢ and Lhe ainounl can be quaiitified witli rec onable accui'acy. Governance Costs Governance costs include those costs associated with meeting the constitutional and statutory requireineiits The fi of the ch'lty and lliclude a¢¢ountaiicy fees and costs related to the strategic mai)agement of the cliarity. Debtors Trdde Debtors and othei. debtors tu'e recOlISed at th¢ settlen)eiit aniount due aftei. any trade discount offei'ed. Prepayments are valued at tlie ainouLIt prepaid net of any trade discount due Creditors and provisions Creditors ajid provisions are i'ecogiiised wliere the charity has a pi'esent obligation resulting fiDin a past eveiit that will probably i'esult in tlie transfei. of funds to a third party and tlie aillount due to settle the obligatioii cali be measured or estiniated reliably. CIEditors and provisions are iiormally recogiiised at dieir settlement aniount aft. allowing for any trade di5COUiit diie. Pension costs The charity operates a defined COTktribLltion schenie. Contribiitions payable to the scheine are charged to tlie stateinent of financial a¢tivities in the period to which ttiey relate. Page 7
Fei'r hill Coin munit Partneyshi cio Notes to tlie Finaiieial Statemellts foi. the Yeai. Ended 31 March 2025 Grants aiid DonatlOl15 Unrestricted Restricted fuiid5 Total 2025 Total 2024 Gi-aiits receivable Donatioiis 6,960 369 2,824 2,824 2,824 2,824 7,329 liicoming fi'om charitable activiti¢s: Unrestricted Fuiids Totgl 2025 Totsl 2024 Bar Inconie Cleves Roorn Hire Dance Stiidio Hire Sports Hall 14ire Rental Income FIT Rebates Insurance claims 223,510 16,334 23,918 43,493 52,167 2,131 32,907 394,460 223,510 16,334 23,918 43,493 S2,167 2,131 32,907 394,460 207,259 18,305 20,095 49,597 36,300 1,958 333,514 I xpenditure Charitable Charitable Activities Activities Unrestricted Restricted Goverllance Total 2025 Total 2024 The ficosts directly alloeated to activities Wages & salai'ies Rent & rates Light & heat Cost of goods sold Teleplione, BrOadb]d & TV Postage & Statioiiery Cleaning Repairs & maintenance Advertising Insurance Suiidry expenses AccouiiÉan¢y Professional fees B]k loan infrrest Bad. debt HMRC interest Bank chge5 148,476 5,502 45,452 136,169 12,609 299 2,540 45,324 333 1,219 20 148,476 5,502 45,452 136,169 12,609 299 2,540 45J24 333 1,219 20 1,164 585 1,198 146,315 5,690 44,212 127,466 11,134 415 2,231 22,962 261 1,194 621 1,945 640 631 6909 1,164 585 1,198 37 73 37 73 55 399,251 1,749 401000 372,681 Page 8
Fei'r hill Cominiiiii Partiiei'slii CIO Notes to tlie Finalicial Statejnents for the Year nd¢d 31 March 2025 Total resources expended Total 2025 Total 2024 Salwies and wages Social Secuiity Pension 144225 3,098 1,153 142,961 2,050 IJ04 148,476 146,315 No einployee received emoluments above £60,000 in die current oi. previous year. The charÉty trL]Stees were not paid or received aiiy other benefits froin eniploynient in the cuent ye or previous yew.. The average iiumber of employees during the yeai. amounted to.. 2025 2024 Management staff Bar and Hall staff io 12 li STOCK Total 2025 Total 2024 Bar stock for resale 4,867 DEBTORS Tolal 2025 Total 2024 Trade debtors Other debtoiB 4,409 7,305 1,363 5098 11,714 6,461 Page 9
r<er hill CommuiiAI Partnerslii cio Notes to tlle Fiiiancial Statements for tlie YeAr Ei ded 31 Mnj'eli 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONI YEAR Total Total 2025 2024 Baiik Loan 4,745 17,2J7 4,504 5,719 6,096 19,803 1,969 5,269 Trade ci'editors T&xation and social secui'ity Ollier creditoi's 32,185 33,137 CRIDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Total Total 2025 2024 Baiik loan 23,148 26,947 10. FUND M0mIl Nrs Incoming resoiirces Outgoing resources Balaiiee at l Api'il 2024 Transfers 31 March 2025 Restricted Unrestricted General Fiinds (23,071) 397,284 (401,000) {26,787) TOTAL FUNDS (23,071) 397,284 401,000 {26,78 ANALYSIS OF NET ASSETS Tangible FiJed Otber Net Total Assets Assets Restricted Unrestricted (26,787) {26,787) 26,787 26,787 Page 10