## **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;
- make judgements and estimates that are reasonable and prudent;
- 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 :
- examine the accounts (under section 145 of the 2011 Act).
- 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
- 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 :
- (1) 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 2011 Act; and
- 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
- (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.