JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 August 2024
REGISTERED NUMBER - 1174080
29 Howard Street North Shields Tyne and Wear NE30 1AR
Tel : 0191 259 2743 Fax : 0191 257 2249 E-mail : info@essell.co.uk
Ref.. ACFU2668
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2024
CONTENTS
| Legal and Administrative Information | Page 1 |
|---|---|
| Report of the Trustees | Pages 2 - 4 |
| Report of the Independent Examiner | Page 5 |
| Statement of Financial Activities | Page 6 |
| Balance Sheet | Page 7 |
| Notes to the Financial Statements | Pages 8 - 11 |
| 29 Howard Street | |
| North Shields NE30 1AR | |
| Tel: 0191 259 2743 : Fax 0191 257 2249 | |
| E-mail: info@essell.co.uk | |
| Ref: ACR/2668 |
Page 1
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Legal and Administrative Information for the Year Ended 31 August 2024
Constitution
Joseph Cowen Lifelong Learning Centre CIO is a Body Corporate under Part 11 of the Charities Act 2011 and is governed by its Constitution. It is a Registered Charity no. 1174080
Trustees
The trustees serving during the year and since the year end were as follows :
Dr Dorothy Stainsby Dr Louise Jennet Freeman Mrs Joan Campion Dr Malcolm Robert Grady Prof Simon Pallett Mrs Rita Prabhu Mrs Anthea Lang Miss Lesley Pringle Prof Trevor Buck Ms Kate Bridger (appointed 20 May 2024) Mr Justin Pearce (appointed 20 May 2024)
Registered Office
Essell Accountants Ltd, 29 Howard Street, North Shields, Tyne and Wear, NE30 1AR
Independent Examiner
Alex Robinson, Essell Accountants Limited, 29 Howard Street, North Shields, Tyne and Wear, NE30 1AR
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 2
Report of the Trustees for the Year Ended 31 August 2024
The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 August 2024.
Legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities.
Objects of the Charity
The objects of the CIO are to advance the education of adults in the north east of England (the area of benefit) by the provision of short courses, seminars, study groups, lectures and other such activities.
Structure, Governance & Management
The Board of Trustees met nine times during the year.
Financial Review
In 2023/24 the Trustees planned to make a deficit. During the Pandemic the Charity unexpectedly made surpluses because it was forced to reduce its programme and move online, so the plan was to return some of those . surpluses to members by keeping subscriptions at pre-Pandemic levels despite the general rise in costs. In the event the Charity made a tiny surplus of £9 on unrestricted funds. This was largely because programme expenditure was a little lower than in 2022/23 and because there had been a small increase in the cost of subscriptions. We were also helped by being able to draw on the Midgley Fund grant to cover part of the cost of our programme.
The main challenge has been the decline in membership from about 200 pre Pandemic to 137-143 in 2023/24. Our costs remain much the same regardless of the number of members, so in the medium to long term we do need to increase membership. The Board is addressing how this might best be done, bearing in mind that most membership organisations have lost members in recent years.
The Trustees are always on the look-out for additional sources of funding, although the CIO is likely to remain dependent largely on members' subscriptions.
The CIO has continued to expend the restricted grant from the Midgley Fund on additional philosophy tuition and the funds are likely to be spent up in 2024/25.
Reserves Policy
Unrestricted reserves includes a designated fund of £25,229 held for the purposes of organisational development. The money for this purpose was received from an unrestricted legacy, which the Trustees have designated for this purpose.
Otherwise it is the policy of the Trustees to hold unrestricted reserves equivalent to at least 6 months running costs in order to protect the Charity against unexpected losses in income or unforeseen rises in expenditure. The loss of members post Pandemic means that there is likely to be some further use of reserves in 2024/25, as the organisation works to rebuild membership numbers. The Trustees have made the decision to freeze membership prices for 2024/25 in order to remain attractive to members and to celebrate the organisation's tenth anniversary.
Nevertheless the Trustees remain confident that the CIO remains a going concern for the foreseeable future, given the substantial level of unrestricted reserves.
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 3
Report of the Trustees for the Year Ended 31 August 2024
Achievements and Performance
This year marks the tenth anniversary of the setting up of the organisation and a number of steps have been taken to celebrate this, from a tenth anniversary party to an extended taster week in September 2024 to a planned publicatio work on which is under way. It's quite remarkable that a membership organisation based on volunteer labour has bee able to take over from a university-run cntre for lifelomng learning and make a go of it, without any statutory funding.
In 2023/24 we have retained a mix of face-to-face, on-line and mixed mode sessions. Mixed mode sessions present some challenges, but the Trustees have taken action to make this work as well as possible. Whilst some members would prefer everything to be face to face, others are only prepared to participate online. It also makes sense for evening sessions, when getting to and from sessions on public transport would be more challenging.
As with many other membership organisations, the CIO has experienced some loss of membership post Pandemic with 137-143 members in 2023/24 compared to about 200 before the Pandemic. The numbers are much the same as in 2022/23. We have continued to offer taster days to try and recruit new members with some success, but much more remains to be done to grow aggregate numbers.
We continue to operate successfully from Brunswick Methodist Church and enjoy excellent support from the staff ther The building offers an excellent City Centre location close to public transport links and a variety of catering outlets.
The Explore programme continues to be member-run, supported by a part-time Administrator. Our Administrator works largely from home, but has some drop-in space in Brunswick Methodist Church.
The CIO benefits greatly from the work of volunteers who carry out a wide range of tasks from devising the the programme to supporting speakers with the technology and providing refreshments for taster sessions. The Trustees are very grateful for this support, without which the organisation could not function. The Trustees are also grateful for the support of the Friends of Explore, sometimes financial and in providing catering for celebrations and taster days.
The Trustees' Annual Report will be presented to the members at the AGM.
Public Benefit
The Trustees confirm that they are aware of the Charity Commission guidance on public benefit and take account of it in running the CIO. There is substantial public benefit in the provision of a very wide curriculum choice, principally to an older audience, and in the way the CIO operates in partnership with other bodies. The CIO also offers some free events to the public, undertakes work in partnership with other organisations to make historical documents available to the public by transcribing them and publishing the results on-line. It also provides valuable opportunities for PhD students to present their work to a non-academic audience. Again we offered our annual Gordon Brown lecture and one additional lecture to all comers on Zoom and attracted a big audience, extending well beyond current membership.
The CIO offers two free taster sessions each year to allow interested individuals to sample sessions before they have to commit to becoming members.
Risk Statement
The Board has conducted a review of the major risks to which the charity is exposed and established systems for managing these. Thanks to the Pandemic the Trustees have been able to enhance the organisation's resilience by learning how to operate online and in mixed mode.
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 4
Report of the Trustees for the Year Ended 31 August 2024
Statement of Trustees' Responsibilities
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and the apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in business.
ON BEHALF OF THE BOARD :
Trust S D Pallett
Prof Simon Pallett
Date : 20.11.2024.
Page 5
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE JOSEPH COWEN LIFELONG LEARNING CENTRE
I report on the accounts of the CIO for the year ended 31 August 2023 which are set out on pages 6 - 11.
Respective Responsibilities of the Trustees and Examiner
The Charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required this year (under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to :
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examine the accounts (under section 145 of the 2011 Act).
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to follow the procedures laid down in the General Direction given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. That examination includes a review of the accounting records kept by the trustee's and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. 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 :
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(1) Which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the requirements of the 2011 Act and the Regulations have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alex Robinson
Mr Alex Robinson FCCA Essell Accountants Limited 29 Howard Street, North Shields, NE30 1AR Date : 24.11.2024
Page 6
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| Notes Income and Endowments Incoming Resources from Generated Funds: Donations and Legacies Donations Gift aid Sundry sales Grants Income from Investments: Bank Interest Income from Charitable Activities 2 Total Income and Endowments Expenditure on : Expenditure on Raising Funds 3 Expenditure on Governance 4 Expenditure on Charitable Activities 5 Total Expenditure: Net Income / (Expenditure) resources before transfers Transfers between funds Net Movement in Funds Balance as at 1st September 2023 Balance as at 31st August 2024 |
Unrestricted Funds £ 2,326 326 70 0 871 3,593 41,029 44,622 494 1,027 43,092 44,613 9 0 9 79,440 79,449 |
Restricted Funds £ 0 0 0 0 0 0 0 0 0 0 1,508 1,508 (1,508) 0 (1,508) 2,964 1,456 |
Total 2024 £ 2,326 326 70 0 871 3,593 41,029 44,622 494 1,027 44,600 46,121 (1,499) 0 (1,499) 82,404 80,905 |
Total 2023 1,964 342 0 0 258 |
||||
|---|---|---|---|---|---|---|---|---|
| 2,564 | ||||||||
| 39,315 | ||||||||
| 41,879 | ||||||||
| 387 976 46,473 |
||||||||
| 47,836 | ||||||||
| (5,957) 0 |
||||||||
| (5,957) 88,361 |
||||||||
| 82,404 |
The notes form part of the financial statements
Page 7
| JOSEPH COWEN LIFELONG LEARNING CENTRE CIO BALANCE SHEET AS AT 31 August 2024 FIXED ASSETS Tangible Assets (Note 7) CURRENT ASSETS Debtors (note 8) Cash at Bank and in Hand CREDITORS : AMOUNTS FALLING DUE NET CURRENT ASSETS NET ASSETS CAPITAL AND RESERVES Unrestricted Funds (Note 10) Restricted Funds (Note 10) WITHIN ONE YEAR(Note 9) |
2024 £ 917 0 109,928 109,928 29,940 79,988 80,905 79,449 1,456 80,905 |
2023 £ 780 0 96,089 96,089 14,465 81,624 82,404 79,440 2,964 82,404 |
2023 £ 780 0 96,089 96,089 14,465 81,624 82,404 79,440 2,964 82,404 |
|---|---|---|---|
| 109,928 | 96,089 | ||
| 29,940 | 14,465 | ||
| 82,404 | |||
| 79,440 2,964 |
|||
| 82,404 |
These financial statements were approved by the Trustees on 20/11/2024 and were signed on its behalf by :
S D Pallett
Prof Simon Pallett
Charity registered number : 1174080
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 8
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015) and the Charities Act 2011. The principal accounting policies adopted in the preparation of the financial statements are as follows:
Incoming Resources
Incoming Resources represents grants, sales and other work done during the year. It is prepared on an accruals basis.
Tangible Fixed Assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Computer Straight line over five years Fixtures and Fittings Straight line over five years
Where assets are purchased with funds given for that specific purpose the Trustees may elect that the asset is written off in full in the year of acquisition in order to match expenditure with income.
Fund Accounting
Funds held by the charity are either :
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these funds are grants or donations received that require the funds to be used in a specific way or for a specific purpose.
Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
2 INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted Funds £ Subscriptions 41,029 Income from events 0 41,029 3 EXPENDITURE ON RAISING FUNDS Unrestricted Funds £ Member development 494 494 4 EXPENDITURE ON GOVERNANCE Unrestricted Funds £ Payroll and independent examination 1,027 1,027 5 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Funds £ Tutors 20,165 Room Hire 6,780 Telephones 0 General Insurances 823 Annual IT Support 583 Office Rent 832 Salary Costs 13,242 Stationery and Office Supplies 78 Bank charges 93 Sundry Expenses 155 Depreciation 341 43,092 6 STAFF COSTS Wages and Salaries Employer's NI Pension Contributions |
Restricted Funds £ 0 0 0 Restricted Funds £ 0 0 Restricted Funds £ 0 0 Restricted Funds £ 788 720 0 0 0 0 0 0 0 0 0 1,508 |
Total 2024 £ 41,029 0 41,029 Total 2024 £ 494 494 Total 2024 £ 1,027 1,027 Total 2024 £ 20,953 7,500 0 823 583 832 13,242 78 93 155 341 44,600 Total 2024 £ 12,482 0 760 |
Total 2023 £ 39,315 0 |
|||
|---|---|---|---|---|---|---|
| 39,315 | ||||||
| Total 2023 £ 387 |
||||||
| 387 | ||||||
| Total 2023 £ 976 |
||||||
| 976 | ||||||
| Total 2023 £ 22,000 8,414 105 758 718 1,212 12,355 95 62 504 250 |
||||||
| 46,473 | ||||||
| Total 2023 £ 11,658 0 697 |
13,242 12,355
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 10
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
6 STAFF COSTS (continued)
| The average weekly number of employees during the year was : | 2024 2023 1 1 |
|---|---|
No employee received remuneration amounting to more than £60,000 in either year.
No Trustee was paid for their work as Trustees, but some Trustees were paid for tutoring. Trustees were paid £239 to reimburse them for expenditure incurred on the CIO's behalf (2023 £343).
7 TANGIBLE FIXED ASSETS
| COST As at 1 September 2023 Additions in the Year Disposals in the Year As at 31 August 2024 DEPRECIATION As at 1 September 2023 Disposals in the Year Charge for the Year As at 31 August 2024 NET BOOK VALUE As at 31 August 2024 As at 31 August 2023 8 DEBTORS Prepayments 9 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR Deferred Income Accruals |
IT Equipment £ 1,250 478 0 |
Other Equipment £ 126 0 0 126 106 0 20 126 0 20 2024 £ 0 0 2024 £ 28,471 1,469 29,940 |
Total £ 1,376 478 0 |
|---|---|---|---|
| 1,728 | 1,854 | ||
| 491 0 320 |
597 0 340 |
||
| 811 | 937 | ||
| 917 | 917 | ||
| 759 | 779 | ||
| 2023 £ 0 |
|||
| 0 | |||
| 2023 £ 13,210 1,255 |
|||
| 14,465 |
JOSEPH COWEN LIFELONG LEARNING CENTRE CIO
Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
10 MOVEMENTS OF FUNDS
| General Funds Unrestricted Funds Designated Funds Total General Funds Restricted Funds Restricted funds Total Restricted Funds Total Funds |
Balance at Transfer Incoming Resources Balance at 1 Sept 2023 Between Resources expended 31 August 2024 Funds £ £ £ £ £ 53,811 0 44,622 44,213 54,220 25,629 0 0 400 25,229 |
|---|---|
| 79,440 0 44,622 44,613 79,449 |
|
| 2,964 0 0 1,508 1,456 |
|
| 2,964 0 0 1,508 1,456 |
|
| 82,404 0 44,622 46,121 80,905 |
The Designated Funds represent an unrestricted legacy which the Trustees have chosen to use for organisational development. It forms part of Unrestricted Funds.
The Restricted Funds represent a grant from from the Midgley Fund to fund additional tuition and activities in Philosophy.