Coinpans, registration nuniber.- 10562824 ('liarily r¢gislralioii iiuinber." I1734$4 The Hub at Gladstoiie Ltd IA ¢on)pany liiiiited bv gLiai'anteel Anniial Report and Financial Stateiiients tor tlie l-ear Ended 31 Nlarcli 2025 l.G. lllalk.er & Co. l.iiiiited 1 ga 14ibli Stre¢l Clai, Cross Cliestei'field Derbi'sliire S4) 9DZ The Hub at Gladstone Ltd Contents Reference and Adniinistrative Details Tnistees, Report 2to4 Independent Exaiiiiner's Reporl Staienienl of Fiiiancial Arlivitie5 6t07 Balance Sheet Notes to the Financial Statements 9t0 19 The Hub at Gladstone Ltd Reference and Administrative l)etails C'.hairman Ms Tait Mrs tlniielle Dilloii C.h#rity Regislratioii N'tsmber 117i454 C'onipan!. RegistrAtion Nuniber 1056?¥24 Tlic charity is iiicorpoi'ated li) Wales. Gladstone Buildings Broadles's Clay Cross Cl)esterfield Derb)'sliire S45 9JN Registered Office Independent Examiner l.G. Walker & Co. Limited 119a Higli Streel Clay Cross ClILslerfield l)erb}'sliirc S45 9DZ A¢countants 1.(i. Walker & Co. Lirniled 119a14i¥li Sireel Clay Cros5 C"Ii¢slerfield Derb)"shire S45 qDZ The Hub at Gladstone Ltd Trustees, Report Tlie trustees. H'ho are directors for Ilie purposes of coii)panv law,, present Ilie aniiual report tOLyeiher w'itli Il)e finaiicial staien)enls of tlie charitable company for the year ended I I hlarcli 2025. Objectii'e5 ond Ac¢ivitie5 Piibli<' benif. Il Tlie Hub at Gladstone is a Coii)pany Liiiiited bv Guarantee and a re¥isler¢d Cliaritv tl)at exists to stiinulate ¢ivic interest and a sense of pride in ai) area ivliicli is lieavily deprived of it5 past industries and cultural Iieritage. Tlie cl)arit)' M'ill provide a place for people aiid cliildren io nieel. 10 excl)ange ideas. lo sl)are artislic a¢liieveiiieiits ai)d develop coini)iunily spiril. The tru>lees coiifiriii that the! have coiiiplied M'itli ihe reqiiireiiieiils of seclion 17 of the Cliarities Act 201 I to l)ave due regard to ihe piiblic benefit guidance publislied b). Ilie Cl)arity Coiniiiission for England and Wale5. Trustees And o￿lcerS Tl)e trustees and ofticers serviniF during Ilie )-ear and since Il)e vear end M'ere as follows- Trustees- Mr Jaines Duncan Gla2ebrook Iresigi)ed 31 Jul), 20251 Nlrs Julie Anne Goodm'in Mr Andreii, Keitl) Goodw'in Ms C liquidilJ I'isk cali be louiid iii Ilie Staleiiienl of aCCOLintiii¥ policies iii Ilie tinancial staleinenls. St#¢enieiit of tru5tees' responsibilities The Iriistees IM'I)0 are 8150 tlie directors of T]ie Hub at Gladstone Lid for Ilie purposes of cc>mpanv lawl are I'espoiisible tc)r pi'eparii)g tl)e Irusiees, report aiid Ilie fii)aiicial slaleniei)ts in accordaiice iviili appl icable lai* and Uniled Kin￿d01m .4ccoiintiiig' Standards 11 Ii)ited liingdoiii Geiierall> Accepted Accouiitiiig Praelicel. includiiig FRS 102 'Tlie Fiiiancial Reporting Slandard applicable in tlie IJK aiid Repliblic of Irelaiid" Tlie report and ac¢oiiii15 liaN'e beeii prepared in accordai)ce iviili Ilie pi'oi'isions in tlie Coiiipanies A¢t ?006 relaliiio to si))all conipanies. Compaiiv la￿. requires Ilie Iriistees lo prepare fiiianLial slalenieiils for eacl) fii)ancial l'ear. Iliider coi)Ip&iiv laH' the Iruslees IilLlSt not approve tl)e fiiiaiicial staleiiieiils iinless ilie!, are satisfied tl)al Iliev give a Irlie and fair vieii. of Ilie state uf aftairs ot. tl)e el)arilable coiiipai)y ai)d ol. tlie incoi)ijiin resources aiid applieaiioi) (It. re50Lirces. includii)Il Its incoiiie and eipeiidilure. of the eliarilable ccii))pany tor Ilial period. Iii prepariiiL Il)ese tii)ai)cial slalenieiils. tlie ti'iislees are reqiiired io.. selecl suitable accounTinL policieb and appl). tl)eni coiisislentlv; obserK'e Ille iiietliodq and i)riiiLiples iii il)e ("l)ariiies SORP: make jiidgienieiiis and estiniales Ihal I1re reasonable and priidei)I: Stale ii'lietlier ai7plicable acLviinlinci standards. IOIllPfiSillislatioi) in oilier juri5dictioiis. Small conip#iiie.s i)roi'ision statement Tliib I'eport li<25 been i?repared iii ccol'daiice wilh the snip.sliire S4! 9JN l-lies¢ financial staleinents M'ere autliori5ed fc)r issiie by the trustees cin 26 Sepleiiiber 2025. 2 A¢countiiig i)olicies SiitnmAn' of .signifJcant accouiiting iiolicie8 anil ke), xccoiintillg estimales The principal accoLinlin¥ policies applied in the pi'eparatioii of these fiiillncial Slatel￿entS al'e set oui below. These policies have beeii consislei)Il)' applied to all the yeai's pi'esented. Linle5b oiheniise staled. Siateiiien¢ of fonipliaiice Tlie fiiiaiicial sialeiiieiil% l)&ve beei) prepthred in accordaiice ii'iil) Accouiitiii£ aiid Reporliiiii bi, Cliarilies.. Sialenieni ot Re¢i)ninieiided Pracliee lapi)licable its cliarilies preparin¥ Ilieir aeei?uiits in accord&i)ce Mitli tlie Fiiiai)cial Repi)rtili￿ Standard applicable in ihe IJK aiid Repiiblic ol. Irelaild l FRS 10211 I issued in Oeiober 20191 (Cliariiies SORP IFRS 10211. Ilie Fiiiancial Reportll)gF Sraiidard applicable iii tlie IIK aiid Republic ol. Irelaiid I FRS 102) ￿lI]d Ilie Conipaiiics Aci ?006. Basis of pi'ei)xrAtioii Tlie Ilub ai Gladsliiiie Ltd iiieets the delinilio&i of a piiblic beiiefii eiilil), uiidei. FRS I O, Assets aiid liabilities are iiiilially reco&Tlii5ed al Iiistorical cosl or Ira115actioii iwalue Liiiless otlierii'ise 5raied iii Ilie relevai)t accountin polic!. r)otes. Coing coiicern Tlie triislees cniisidcr Iliat Iliere al'e no Iiiaiei-l¢l1 Lineei1aiiities abolit Ihe cliai'itv's abililv to coiiliiiiie as a Lioiiig conccrii iic)r ali). sji>nificl& lil ai-eas of Lincei1.2ii)ts' Ihal direct the Car￿ iiig i'aliie of £2sseis lield b) thc Lliarit!.. Inconie and elid￿￿'n1eT7tS All incuiiie is r¢coLTI)i%ed niice tlic cliariiv lias eiititlciiiriil lo ilie ii)c()iiie. li is probable tliat ilie iiicoiiie ii'ill be I'eceived aiid Ilie uiiioiiiil ol'tlie iiicoiiie reLeii'abl¢ cali be iiieasiirid reliabl),. Gi'iiiil.I rec'eii'iihl (iraiiis are recogiiised ivlieii tlie cl)aril) lik)s ali ¢iiiitlen)ei)I lo Ilie fiii)ds aiid anv eoiidilions linked io Ilie Liraiilq liave beeii iiiet. Il'liere pertori))aiice condili0115 are allaclied io (lie gjraiit aiid are ￿et lo be i))el. Ilie ii)Loii)e is I'ecogTI)ised as a lial)ilii>' aiid incliided i)11 tlie balanLe sl)eet as deterred iiicoiiie lo be relea.5ed. PagFe 9 The Hub At Gladstone Ltd Notes to the Fiiiancial Statements for the Year Ended 31 March 2025 Expenditure All e.xpendilure is rccounised once tliere is a le&Fal oi. constructive obliiyation lo Ilial expenditure. il is probable setilemL'nl is required and tliL" anlount Can be iiieasiired reliablv. All cos15 are allocaied lo tlie dpplicable expeiiditure lieadiniT ilial agg)regale 5iiiiilar cosis to Ilial caleliory. 11 Iiere costs cannoi bc directly attributed to particular headinJn Iliej" have been allLicalcd Dll a basi5 consistent ii'ith ihe usc of resL)urcc5. 11.itli central staft ci)sts allocated on tlle basis ot- liiiie speilt. aiid depreciation charL?c5 allocated oll ihe portion of ilie as5ei"s use. Othcr siipport Costs arc allocated based 01) tlie spread ot- 51aff costs. Riii.fiil￿flIXIl.% Tl)ese are cost.4 IllCLirred in atlracling voluiltary inconie. Ilie iiiaiiagciiieiil of invesÉiiient5 and 11i0se incurred in tradiiig activities tliat raise funds. Support costs SLlPPQrt costs incliide Central fui)¢lioiis and have beeli allocated to a¢livitv cosl calegories on a basis consistent ii'iil) tlie use of resouires. for eianiple. allocaling propert). ¢osts by floor areas. or per capila. staff costs by tlle lime speiil and oil)er cosls b> Ilieir usagie. Governanfe costs Tl)ese iiicliide the costs alti'ibliiable lo the cliarii!, s compliance witl) coiisliliilional aiid statiilory reqiiiremenls. incliiding aiidil. Strategic managTeiiiei)t and trLislees meetings and reiinbiirsed eipenses. Goi'erilnient gi'aDts Governii)ei)I gyraiils are reco(7iiised based on the accrual niodel and are iiiea5ured ai Ilie fair value of tlie asset received or receivable. Graiils are classified as relalinii either io reveniie or tu assets. Cirants relaliiigF to revenlie are recogyiiised iii ineoi)ie oN'er tlie period in iiliicli Ille I'elaied cos15 are recosynised. Grants relating lu xssel.q are I'ecoi?iii.8ed ol'ei tlie expecled iisetul lit.e of ille asset. V4'1iere pait of a gii'aiit relating lo ali asset is deterred. it 1% IEcobyiiised as deferrcd incoiiie. The cli&lrity is con.qidercd lo pass tlie tests sel oul in ParaLTraph I Scliedule 6 of Ilie Financc Aci 2010 and Illerefore il llieeis Ilie defiiiition of a charitablc coiiipany for IIK corporalion tax PLITposes. .4ccordiiiLI)', Ilie cl)arit)' is poteniiall). c.Ici)Ipl froiii la.ialion in respect of incoiiie or capilal vains received iviiliin catClTories covered b). Chapter .? Part I l of (l)e Ci)rporation Tax .4ct 201 O or secii0i1 ?56 of Ilie Taiation of CliariTeable Gaii)s Act 1997 lo ihe extenl tliat such iii¢onie or &Jains al'e applied e.xclusively to chaiilable purposes. Tangible fjxed assets Iiidiiiidual fixed asselb costiiiiF £0.00 L)r n)ore al'e iniliallj, recorded at cosl. le55 ai)v subseqii¢iit ac¢uinulaled depreciativii and .8ubsequeiil acciiiiiulaied iiiipairiiieilt losses. Depreciation and amortis#lioii Depi'¢¢il&liOli is proi'ided on taiigTible fixed asset5 so as to ivrile oll. Ilie cost or valualioi). le55 ali), esliiiialed residiial valiie. Lli'er theii. expected 115efiil econoiiiic life as f()Ilows'. Pab?e l O Tlie Hub at Gladstone Ltd Notes to the FinanLiaJ Statements for the Year Ended 31 Mar¢h 2024 I"r#de debtors Trade debtors are anioiiiits due froni cuslon)ers for Inercliandise sold or service5 perforn)ed iii the ordAnan' course of busines.s. Trade debiors are reco¥i)ised iiiitiall), al il)e Irai)saetioii price. The), are subsequei)tly ii)easured at an)onised Cost USIIIL Ilie etTectI￿'e inlcrcst 11)eiliod. le%s provision lor iiiipairnieiit. .4 provisioii for 111¢ ii)Ipaii'iiiei)l ot irade debtors is established ii'l)eii Iliere is objcclive ei'idence thal the ¢liai-it5' will iiot be able io colle¢1 all ai))ouiils due accordiiiu lo Ihe oi'iCTiiial leiiiis of ihe Teceivable5. Cash and ¢asli equiTr'alents Casli and casli eqiiivaleiits coiiiprise casli 011 liand and call deposits. and oilier sliort-tenn l)iLTrhly liquid investiiient.8 tlial are readily CLiiiverlible to a knoii'n ai)iount of Cdsl) and are subject to ali illSiLTlllticaiil risk ol- cliange in i'alue. Borrom'ings Inieresi-beariiig boi-rom'iiigs are iiiiliall}' recorded ai fair value. iiel of tr2iisaction costs. Inleresl-bearin¥ borroM'in2s are siibsequenil), carried ai aii)ortised cost. Iviili tlie difference betii'een tl)e proceeds, t)et of transaction costs, and tl)e aiiioiinl du¢ on redeniplioii beiii¥ recognised as a cliarge to tlie Sialeiiiei)t of Financial Activities over the period of Ilie relevant borroii'ing.. Interest expense is recoonised oli tlie basi5 01- Ilie et*¢ctive inleresl iiieiliod ai)d 15 iiicluded in iiileresl payable ai)d sii)iilar cliarge5. Borroivin¥s are classified as CLlI'I'ent liabilities iinless ilie charit}. has an iineondilioiial ri¥lit io defer settlement of the liabililv for t least t￿.¢11.¢ Iiioiiihs i?fter ihe reporlii)eiiiei)ts entered inlo. Ai) equit>. inslruinent is ai)v coii(racl Iliai evideiices a residual inleresl ii) Ilie a55ets ot Ilie cliarity atier deductlllLJ all ol. 115 liabililies. Rec'()Ayniliciii iiiid mea.sHr¥nieiil All Iinancial aqqels aiid liabililies are iiiilially Iiieasured at trailsaclion price liiicludiiii. rransaction coslsl. e.Icepl for Iliose finai)cial asseis classitied as at tair Nalue IlirouLTli pi'otil or loss. Ivliicl) are initiall)i i)ieasLired ai fair 'alue {Ivliieh is n()riiially Ille ti'aiisaclioi) price excludinLP transaction costsl. 111)less the an'ai)gFeiiienl coiislilLltes finai)cii)c. Ir8nsaction. If an arrang￿en)ent consliliites a financing Iraiisactiot). the fiiiancial asset or financial liability is iiieasLired at the preseiil vallie of ihe fiitiire pa!.'Inenls di5coiinted al a iiiarkel rale of inleresi for a siiiiilar debi inslriim¢nt. Fii)ancial assel.q ai)d liabilities are onlv offset iii the sialeiiieiil ot- fii)dn¢ial po.qition 14'1)eii. and onl}, ii'lieii Il)ere exisls a le&Fall￿ eiilorceable ri(,lit to .sei oty ilie recogiiised ai))oiint5 aiid ilie cl)arity intends eiilier lu settle on a iiel basis. or io realise tlie assel aiid setile Ilie liabilitv qii)iulianeously. Fii)aneial asseis are derecc)ctrl)ised i¥'l)en and oiily iNheii al tl)e c(Inti'acliial ri,,lilS 10 the cash t10￿5 froin Ilie fiii¢iii¢ial (issel expii'e oi. are seiiled. bl Ilie chai'it}' Iraiislers io anoiliei. partv subsianiiallv all of the I'isks and reM'l¢rds of ow'nership of Ilie liiiincial asset. or cl Ihe charit!.. despite h?ii'ili¥ relhiiied some. bill noi all. signifieanl risks and rem'ards of oiinersliip. lias iransferred ¢onlrol of thc asset lo thnoiher partj,. Fiiiaiicial liabilities are derecoLlI]ised 01)Iv ivlieii Il)e obliLTaiiOli specified iii Ilie conli'acl is diseliargTed. cancelled or eAI)ires. Pabje l. The Hub at Gladstone Ltd Notes to the Financial Statements for the l'ear F.iided 31 Mareh 2025 Debi iii.slriiiiienl.I l)ebt instruiiieiils i¥liicl) 11)eei tl)e t-olloiYin¥i c()nditions are subsequently iiieasured at ainorlised cost uqiiig Ilie etyeclii'e intere.si i)ietliod.. l al The contractiial reiiirn lo tlie liolder is l i l Iixed ainoiinl.. lil l a positiN'e fixed rate or A posilile variic ble rate.. or l iii l a coiiibination of a posilive or a neualive fixed renl oli f4iliire ev¢iils. other th&ln Ic) proleet tlie holder a¥¢lillSi Ilie credit delerioralion of tlie issuer or a cliangre iii ¢onlrTrl of the iSbLier. or to protect ilie liolder or issiier a{yainsl clianves in lei'ies applied bv a cei)Iral bank or ai'ising troni cl)an( Fes in relei'aiit taxaiii)11 or lam.. I l) Coniraclual provisioiis iiiav pen)iil Il)e exleiisi0i1 u1- tl)e leriii of tlie debi iiistruiiieiil. provided tliat Ilie relurii 10 tlit l)older aiid ali!. otlier coi)tractiial provisioiis api)lieable durin& tlie exleiided teriii saiisf). Ilie conditions ()t paragJi'ai)lis la I to Ic l. Debt instriiiiieiils Iliai al'e classified as pavable oi. I'eeeifvable wiiliin oiie veal. on iiiitial reco¥?nilion and which nieet il)e aboi'e coiiditic)ns are i)ieasiired ai Ihe iiiidiscoLinled ai))oiint of the C&ish or otlier coi)sideralioii expected to be paid oi. received. net of inipaii'ii)enl. Il'iil) Ilie exception of soii)e lieduincl iiisirui))ents. otl)er debi iiisti'iiii)eiils i)oi iiieeting Iliebe conditions are ii)casured at fair value IliroLigili prolii or loss. C'oiiiiiiiiinents ti) iiiakc aiid I'eceii'e Ioaiis iiTliicl) Iiieet the coi)diiioiis iiieiilioiied aboi'e are ii)eas111'ed ar cost (which n)a}' be nil I les5 Iiiipiiil-i)ier71. liii'e.Ilnieiih' InN'esliiients iii iion-coiil'ei'tible i)I'eterenie sliarcs and i)i)ii-puttablc ordiii#Tr or pretereiice 51iarc5 Iivliere sharcs air PLiblicl)' traded or rheir f2L li. valiie is I'eliJbly tneaslirable l al'e illeasiired at fair valLlC Ihi'oiii>h profil oi. loss. IAllieie fail. N'411iie Lanni)I be iiie14 siiird reliabli.. in￿eStI7}entS air Iiie¢lSLired 111 cc)st less iiiipaii-117eiil. Ini'esliiieiits iii .%iibsidiaries aiid associates are IiiedSLlI'ed al Cobt le5S iiiii)airiiieiil. Fc)r ini'eslnienls iii subsidiaries aciiiiired li)r coi)sidei'atioii IiiclLidiiiL ilie issue ol- sliares qualilN'ji) l()r niei'iTer reliel.. cost i.s niea5ured bv refereilce lo ilie iioiiiinal valiie nf Il)e sliare.s issiied pliis tair vallie ()t' oilier considei'ali()1i. ,4iiv preii)iuiii 15 Tlie Hub at Gladstone Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Derii'iilii'ejiiilliiciul iii.slriiiiieiil. Tlie cl)aril)' use5 derivaiii'e financial iiistrullicnls lo reduce exposure lo t-oreigii) exclian&¥e risk and inlcrcsl rale Inoveiiieii1s. Tlie cliai-ily doe5 not huld or issue derivat1￿C tinancial i115truiiieiils for Speculative purpose5. Derivatives are ii)itiallv reco¥nised at fair valiie al the date a derivnlive contract is entered inlo aiid are subseqiientlv reiiieasured fo tlieir fair iialue al each reportinLF dale. Tlie resuliing gain or1055 is recoltrnised in slaleiiienl of financial aciivilie5 iii)niediatelv uiiless rlie derivative is desiL7naled and effective as a l)edgiji)LY inslrui)iei)l. iii ii'liicli evenl Ille liniing of tlie recogTnilioi) in slateiiient of financial aeiivilies depends on tl)e iialure of tl)e l)edLye relalionsl)ip. Fiiir i'ulue nieii.iiiienieiil Tl)e best evidei)ce of fair value is a quoied price for an identical asset iii an aclive niarket. Ivlieii quoted prices are unavailable. Ilie price of a recent transdclion for an identical assel provides evidence of fair value as loiiii as tl)ere lias nol been a si(TnjliLai)t ¢l)ange in econiiinic circuiiislai)ces or a SigTnificant lapse of tiine since Ilie transaction took place. If tlie mark.cl is nol actii'e and receiil trai)sactioiis of ali ideiitical asset 01) their ow]1 are not a good estiinale ot'fair value. tlie fair value is estiinated b!. usin¥ a valuati()n technique. 3 Income from dollAtions and legxcies [Inrestricted (ujids General Tolal fuiids Grants. ii)eludili￿ capital graiits: GLiv¢niiiienl giranls 2.914 ?.914 Toi#l for 202.5 ?.914 TolMI for 2024 .)9.825 4 Income frojn other tradiiig aclii'ities Ilnrestricted fuiids Geiieral T()t#l funds Tradiiig incoiiie.. Otlier Ii'adii)gJ iiicoiiie 54.524 54.$?4 Total for 202 54.524 54.524 Total for 2(124 Pagye 14 The Hub at Gladstoiie Ltd Notes to the Fiilancial Statements for the Year Ended 31 March 2025 -5 ExiieJ)diture on roising fuDds a) C'osts of trading actii'ilies Ilnrestritted funds General To(xA fuiids Note Costs ot" goods sold 24.965 TolAI foi. 202 24.96) TotAI for 2024 17.709 17.709 b) InN'estn)ent niaiiageIiient cost5 Ilni'esti'icled funds CenerAI funils Nott Allocaled .#iJPPL)n cosls 17.742 17.74? Total for 202$ 17.742 TotAI for 2024 Total cosls 6 Exi)enditure 01) charitable aclil'ilies [Ini-esti'icted fun(Is Geileril fun(Is Note ( iol'ei'iianee costs 1.440 1.440 Tolxl for 2024 960 960 exi>eiin(-ie.s Uk Goveri)n)¢nt vranls 2,914 -39.8?5 Ollier Iriiiliiisy ttcliiiilie.F Sale5 1)I"doiialed gyoods Reiilal ii)come Otlier iiicoiile 5.032 44.580 9,944 -314 54.5?4 RIiE.fiii&'fiin(l. Purcl)ases Direct ¢osts Advertising Oflice e.xpeiises Coii)piiter softivare ai)d niaii)ieiiai)ce costs Printing. posia&pe aiid statione Trade siibscripiioiis Suiidry expeiises Cl¢ai)ii)g' Coi)suliancy fees Bad debt8 iwirieii otl Bai)k cliargeb Depreciaiioii of plant and iiia¢l)iners' 1?0.9991 {i.966) 117.6091 IIOO 1.0741 1801 11.36.31 11.0051 1170 11.7611 11801 1541 114.- 112.6761 12341 4.141 {28SI i.l.f I 11461 16,61 14? 707 C"liiiriluhle cil'lii'ities AccountancN' fees 11.4401 19601 11.4401 19601 Uili(>r e.Ipeiiditiire Rent Raies IA'aler rates ,lii. lieai and p£}￿eT Insiirance Rei)airs and Iriieivals General iiiJinienance ?O.OOOi 120.0001 15f61 17.0801 19.6?21 (1.4.1.71 11.7171 11.0661 1.)ti.576} This pag)e does iiol tonii part ofihe slaiulory tii)&t)eial slaienieiils. Pa¥e 27