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2022-03-31-accounts

Company registration number: 10562824 Charity registration number: 1173454

The Hub at Gladstone Ltd

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2022

M.G. Walker & Co. Limited 119a High Street Clay Cross Chesterfield Derbyshire S45 9DZ

The Hub at Gladstone Ltd

Contents

Reference and Administrative Details 1
Strategic Report 2
Trustees' Report 3 to 5
Independent Auditors' Report 6 to 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 21

The Hub at Gladstone Ltd

Reference and Administrative Details

Chairman Ms Tait Charity Registration Number 1173454 Company Registration Number 10562824 The charity is incorporated in Wales. Registered Office Gladstone Buildings Broadleys Clay Cross Chesterfield Derbyshire S45 9JN Independent Examiner M.G. Walker & Co. Limited 119a High Street Clay Cross Chesterfield Derbyshire S45 9DZ Accountants M.G. Walker & Co. Limited 119a High Street Clay Cross Chesterfield Derbyshire S45 9DZ

Page 1

The Hub at Gladstone Ltd

Strategic Report for the Year Ended 31 March 2022

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2022, in compliance with s414C of the Companies Act 2006.

The strategic report was approved by the trustees of the charity on 22 December 2022 and signed on its behalf by:

......................................... Ms Tait Chairman

Page 2

The Hub at Gladstone Ltd

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.

Objectives and activities

Public benefit

The Hub at Gladstone is a Company Limited by Guarantee and a registered Charity that exists to stimulate civic interest and a sense of pride in an area which is heavily deprived of its past industries and cultural heritage. The charity will provide a place for people and children to meet, to exchange ideas, to share artistic achievements and develop community spirit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Mr James Duncan Glazebrook Mrs Julie Anne Goodwin Ms Katherine Richards Mr Andrew Keith Goodwin Ms Jenny Murphy

Chairman: Ms Tait

Structure, governance and management Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 3

The Hub at Gladstone Ltd

Trustees' Report

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Statement of trustees' responsibilities

The trustees (who are also the directors of The Hub at Gladstone Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 4

The Hub at Gladstone Ltd

Trustees' Report

The annual report was approved by the trustees of the charity on 22 December 2022 and signed on its behalf by:

......................................... Ms Tait Chairman

Page 5

The Hub at Gladstone Ltd

Independent Auditors' Report to the Members of The Hub at Gladstone Ltd

We have audited the financial statements of The Hub at Gladstone Ltd for the year ended 31 March 2022, which comprise the Statement of Financial Activities, Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)).

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditors

As explained more fully in the Statement of trustees' responsibilities (set out on page 4), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees' Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on the financial statements

In our opinion the financial statements:

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the for the financial year for which the financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 6

The Hub at Gladstone Ltd

Independent Auditors' Report to the Members of The Hub at Gladstone Ltd

......................................

(Senior Statutory Auditor) For and on behalf of M.G. Walker & Co. Limited, Statutory Auditor

119a High Street Clay Cross Chesterfield Derbyshire S45 9DZ

22 December 2022

Page 7

The Hub at Gladstone Ltd

Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Other trading activities
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16
Note
Income and Endowments from:
Donations and legacies
3
Other trading activities
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Unrestricted
funds
£
16,992
1,829
32,880
51,701
(43,974)
(300)
(44,274)
7,427
7,427
7,899
15,326
Unrestricted
funds
£
26,058
375
29,855
56,288
(33,344)
(33,344)
22,944
22,944
(15,045)
7,899		 Total
2022
£
16,992
1,829
32,880
51,701
(43,974)
(300)
(44,274)
7,427
7,427
7,899
15,326
Total
2021
£
26,058
375
29,855
56,288
(33,344)
(33,344)
22,944
22,944
(15,045)
7,899

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 16.

The notes on pages 10 to 21 form an integral part of these financial statements. Page 8

The Hub at Gladstone Ltd

(Registration number: 10562824) Balance Sheet as at 31 March 2022

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
14
Creditors: Amounts falling due within one year
15
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
16		 2022
£
6,204
7,737
9,401
17,138
(8,016)
9,122
15,326
15,326
15,326		 2021
£
1,120
6,307
13,513
19,820
(13,041)
6,779
7,899
7,899
7,899

For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 21 were approved by the trustees, and authorised for issue on 22 December 2022 and signed on their behalf by:

......................................... Ms Tait Chairman

The notes on pages 10 to 21 form an integral part of these financial statements. Page 9

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

1 Charity status

The charity is limited by guarantee, incorporated in Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Gladstone Buildings Broadleys Clay Cross Chesterfield Derbyshire S45 9JN

These financial statements were authorised for issue by the trustees on 22 December 2022.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The Hub at Gladstone Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 10

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 11

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 12

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 13

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 14

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 15

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Government grants
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
3,492
13,500
16,992
26,058		 Total
funds
£
3,492
13,500
16,992
26,058

4 Income from other trading activities

Trading income;
Shop income from sale of donated goods and services
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
1,829
1,829
375		 Total
funds
£
1,829
1,829
375

Page 16

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

5 Other income

Rental income
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
29,121
29,121
29,057		 Total
funds
£
29,121
29,121
29,057

6 Expenditure on raising funds

a) Costs of trading activities

Note
Costs of goods sold
Total for 2022
Total for 2021
b) Investment management costs
Note
Allocated support costs
8
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
6,465
6,465
330
Unrestricted
funds
General
£
37,509
37,509
33,014		 Total
funds
£
6,465
6,465
330
Total
funds
£
37,509
37,509
33,014

Page 17

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

7
Expenditure on charitable activities
Note
Governance costs
8		 Unrestricted
funds
General
£
300		 Total
costs
£
Total
funds
£
300
Total
expenditure
£

In addition to the expenditure analysed above, there are also governance costs of £300 (2021 - £Nil) which relate directly to charitable activities. See note 8 for further details.

8 Analysis of governance and support costs

Governance costs

Marketing and publicity
Total for 2022		 Unrestricted
funds
General
£
300
300		 Total
funds
£
300
300

Page 18

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

9 Net incoming/outgoing resources

Net incoming resources for the year include:

2022 £

10 Trustees remuneration and expenses

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
13 Debtors
Trade debtors
Other debtors		 Furniture and
equipment
£
3,540
5,942
9,482
2,420
858
3,278
6,204
1,120
2022
£
3,943
3,794
7,737		 Furniture and
equipment
£
3,540
5,942
9,482
2,420
858
3,278
6,204
1,120
2022
£
3,943
3,794
7,737		 Total
£
3,540
5,942
9,482
2,420
858
3,278
6,204
1,120
2021
£
1,235
5,072
9,482
2,420
858
3,278
6,204
1,120
2022
£
3,943
3,794
7,737
6,307

14 Cash and cash equivalents

Page 19

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Cash on hand
Cash at bank
Short-term deposits
15 Creditors: amounts falling due within one year
Trade creditors
Other loans
Other creditors
Accruals
16 Funds
Balance at 1
April 2021
£
Unrestricted funds
General
7,899
Balance at 1
April 2020
£
Unrestricted funds
General
(15,045)		 Incoming
resources
£
51,701
Incoming
resources
£
56,288		 2022
£
200
5,032
4,169
9,401
2022
£
-
6,883
293
840
8,016
Resources
expended
£
(44,274)
Resources
expended
£
(33,344)		 2021
£
200
6,038
7,275
13,513
2021
£
653
11,548
-
840
13,041
Balance at 31
March 2022
£
15,326
Balance at 31
March 2021
£
7,899

17 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
6,204
17,138
(8,016)
15,326		 Total funds at
31 March
2022
£
6,204
17,138
(8,016)
15,326

Page 20

The Hub at Gladstone Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

Tangible fixed assets
Current assets
Current liabilities
Total net assets
18 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 Unrestricted
funds
General
£
1,120
19,820
(13,041)
7,899
At 1 April
2021
£
13,513
13,513
At 1 April
2020
£
3
3		 Total funds at
31 March
2021
£
1,120
19,820
(13,041)
7,899
At 31 March
2022
£
13,513
13,513
At 31 March
2021
£
3
3

Page 21

The Hub at Gladstone Ltd

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Unrestricted Funds

Unrestricted Funds
Income and Endowments from:
Donations and legacies
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2022
£
16,992
1,829
32,880
51,701
(43,974)
(300)
(44,274)
7,427
7,427
7,899
15,326		 Total
Unrestricted
Funds
2021
£
26,058
375
29,855
56,288
(33,344)
-
(33,344)
22,944
22,944
(15,045)
7,899

This page does not form part of the statutory financial statements. Page 22

The Hub at Gladstone Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2022
£
16,992
1,829
32,880
51,701
(43,974)
(300)
(44,274)
7,427
7,427
7,899
15,326		 Total
2021
£
26,058
375
29,855
56,288
(33,344)
-
(33,344)
22,944
22,944
(15,045)
7,899

This page does not form part of the statutory financial statements. Page 23

The Hub at Gladstone Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

Donations and legacies
Appeals and donations
UK Government grants
Other trading activities
Sales of donated goods
Other income
Rental income
Other income
Raising funds
Purchases
Direct costs
Casual wages
Rent
Rates
Water rates
Light, heat and power
Insurance
Repairs and renewals
General maintenance
Office expenses
Computer software and maintenance costs
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Accountancy fees
Consultancy fees
Bank charges
Depreciation of plant and machinery
Charitable activities
Advertising		 Total
2022
£
3,492
13,500
16,992
1,829
1,829
29,121
3,759
32,880
(4,669)
(1,796)
(1,871)
(20,000)
(1,268)
(2,622)
(4,101)
(573)
(1,284)
(1,064)
(169)
(1,032)
(832)
(94)
(100)
(17)
(960)
(524)
(140)
(858)
(43,974)
(300)
(300)		 Total
2021
£
495
25,563
26,058
375
375
29,057
798
29,855
-
(330)
(100)
(17,622)
(1,041)
(1,045)
(5,850)
(556)
(234)
-
-
(1,760)
(599)
(172)
(2,078)
(760)
-
(558)
(266)
(373)
(33,344)
-
-

This page does not form part of the statutory financial statements. Page 24