[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 1133 Company Registration Number 10609517 Registered Charity Number 1175946 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT AND ACCOUNTS For the year ended 30 June 2024
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P2133 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 The Trustees, who are also Directors for the purposes of company law, present their report and the rinancial statements of the charity for the year ended 30 June 2023. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name The Commor) Room Of The Great North Limited Charity registration number 1175946 Company registration number 10609517 Registered office Neville Hall, Westgate Road. Newcastle upon Tyne NE1 1 SE Key Management Porsonn81 Elizabeth Mayes Angela Thomson Chief Executive Officer (Resigned 4 April 2024) Finance and Resources Manager Trustees For the purposes of the Companies Act 2006. the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report. The Trustees of The Common Room Of The Great North Llmlted ¢Jurlng the year and to the clate or signing this report are as follows= Mr M Boyle OBE (Chair) Ms C Miller Sir W Morrison-Bell Ms A Shaw Dr F Smith Ms H Whiffiled Ms P Wilkinson Ms N J Doyle-Hall Ms M J Broadbent Ms C A Bell OBE Mr P Kelly (Resigned 30 June 2023) (Appointed 18 April 2023) Company Secretary Angela Thomson Bankers Lloyds Bank plc. 25 Gresham Street, London EC2V 7HN Independent Examiner Simon Brown BA ACA DChA, Azets Audit serViS, Bulman House, Regent Centre.Newcastle upon Tyne NE3 3LS Solicitors Ward Hadaway Solicitors. Sandgate House,102 Quayside. Newcastle upon Tyne NE1 3DX
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 PY33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 June 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documonts The Common Room of the Great North Limited is a charitable company limrted by guarantee. incorporated on 8 February 2017 and registered as a charity on 27 November 2017. The charity is controlled by its goveming document, its Memorandum & Articles of Association, as amended by a Special Resolution registered at Companies House on 21 November 2017 and subsequentty amended by a Special Resolution registered at Companies House on 20 June 2021 and constitutes a limited company. limited by guarantee. as defined by the Companies Act. The Directors of the company are also Trustees of the charity. Eligibility for membership of the charty, and membership of the Board ofTrustees. is govemed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity otherthan those imposed by general charity law. Charitable Purpose The Common Room of the Great North Limited's charitable objects are to advance. for the benefit of the public, education in the practice and understanding of science, technology, engineering and mathemats'cs. in particular in the North-East region by= a) owning, operating and maintaining a building (known as Neville Hall in Newcastle upon Tyne) used for the presentation of debates, conferences, courses, exhibrtions, evenls, lectures an workshops. b) owning, preserving, protecting and promoting the cultural, industrial and engineering herf(age of the building and its collection of documents, books and objects. c) promoting public knowledge and awareness of the roles played by science. technology. engineering, mathematics and innovation in the past present and future of the northast region. The North-East region means the Administralive areas of the Boroughs of Gateshead, North Tyneside, South Tyneside, Hartlepool, Middlesbrough, Redcar and East Cleveland, Stockton and Darlington,. the counties of Durham and Northumberland., and the cities of Durham, Sunderland and Newcastle upon Tyne. Structure and Governance The charity currently has a Board of 10 nonxecutive Trustees as at the year end. The Board cuffently meets 4-6 times per year. A Chief Executive's report. quarterfy management accounts. a meeting agenda and any other neSSary Board papers are prepared by the Chief Executive and circulated in advance of meetings. The Board has several sub-committees including a Finance Committee. Remuneration Committee and Fundraising Committee.
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P4133 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued Recruitment and Appointment of Board of Trustees Trustees are elected to the Board based on discussions and recommendations offered by TTUStees and outside advisors to the organisats'on. as well as through a range of advertising channels. Trustee Induction and Training New Trustees are inducted by the Chair of the Board and Chief Executive and are provided with a range of resources to support their understanding of Common Room's plans. Remuneration of Key Management Personnel The Board. who give their time freely and have received no remuneralion in the year, have considered who are the Key Management Personnel IKMPI of the charity. Together with the Board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis. The pay of the KMP is reviewed annually. The Trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast infom)ation, ensuring that the charity can afford any proposed increases. The Board then agrees any uplift to remuneration. Fundraising Policy The charty is required to report how it deals wilh fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and conlact preferences of all public donors.
VulualSvJknTrackn W 9LT-N92WJxW21 V[202507.4?.S4 GMT iufc+OID 111 P THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 Messa e from the Chair The Mission of the Common Room of the Great North is to ensure equity of knoedge about our region's industrial past, using our building's history and unique archive collections- and to support young people in their transition into further education and the workforce through sustained creats-ve engagement with STEM skills. The commitment of staff and trustees to maintaining the delivery of activity against these elements of our mission remained strong and detemiined throughout 2023-24. Nonetheless. we continued to face signÈficant financial - and consequently organisational - challenges, in response to which a staffing restructure took Pla during the first hair of 2024. Unfortunately. we had to say goodbye to a numtEr of valued colleagues which induded the Chief Executive who stepped down in April. The Board would like to thank Liz for her immense contribution in steering us throLtgh a complex renovation project and confronting the unforeseen challenges of the COVID pandemic. The slimmed down core team continued with great commitment to deliver the event bookings and hospitality which support our operational finanS- access to the colleclions. programme activities- and caring for our building and historic cullural assets. Two consultanls also worked for us part-time to support the Board and staff team on the strategies which were put in place in 2023. Trustees have brought their varied skills. nettvofks and experience to the task of developing plans for the future, seeking to ensure that the Common Room continues to honour its commitment to public benefit - The Common Good. Their focus is to conts-nue to deliver the objects of the Charity. including running a powerful programme to help support the development of the region's communities and economy., and ensuring Ihat The Common Room of the Great North can be used to inspire the engineers. scientists and innovators of the future. As aays, we must extend our grat'tude to all our funders. partners and supporters and to the conts.nued commrtment and exceptional hard work of our team. I personally thank every member of staff and our Board members for their energy. commitment and consistency in seeking to drive our organisation forward into a secure future and one which provides real benefit to our region. Matt Boylo, OBE FR Eng Chair
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 PW33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 OBJECTIVES AND ACTIVITIES Public Benefit The Trustees understand and have discussed the implications of the provisions of the Charities Act 2011. which state that all charities must demonstrate that they are established for public benefrt and have had due regard to the public benefit guidan issued bythe Charity Commission. The Trustees believe that the charity meets both of the key principles= Principle 1- There must be an idenlifiable benefrt. or benefits Achievement of the organisation's objectives will enable the preservation. upkeep and public use arld accessibility of Neville Hall, a Grade 2. listed building of both historic and architectural value. They will also preserve the associated archives and collections, making them available to the public around the world both physically and digitally. Principle 2 - Benefit must be to the public, or a section of the public. Each element of our Work has the ability to provide benefit to the public as a whole who can access the building. engage with it in a range of ways and enjoy andlor participate in the programme of work produced. The Common Room of the Great North Limited's beneficiaries are Iherefore entirely appropriale lo it5 aims and the public as a whole benefits from its work. All of these benefits are clear. eVIdend and relate directly to The Common Room of the Great North Limited's aims. In addition, the Trustees do not consider that any significant detriment or harm flows from The Common Room of the Great North Limited's work.
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 1133 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 June 2024 Risk Management The Trustees of the charrty regularly review the major governance. operational and financial risks which the charity faces as part of its annual business planning process and confimi that systems have been established to mitigate these risks. The Common Room of the Great North Limtted has a risk management strategy in place which comprises.. an annual review of the strategic risks the Eharity may face via the business plan the establishment of systems and procedures to mitigate those risks idenb'fied the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are being put in place. The Trustees consider the key risks facing the charity at this time and the mitigating actions taken to be as follows.. Failure to raise funding for the ongoing delivery of charitable objectives-. Fundraising group established Updated Fundraising Strategy commissioned Fundraising Strategy implementation plan being delivered Applications lodged with several Trusts and Foundations Relationships developed with high net worth individuals Relaunch event planned for Spnng 2025 Short-temi liquiditylcashflow issues threaten development project.. Open communication with main lenders on cashflow challenges Delailed cashflow forecasting undertaken The Trustees also manage the general financial risks arising by ensuring that- Prudent budgels have been set for the next financial year Regular management accounts are provided. showing the performance against budget Weekly cashtlow forecasting on a rolling 6 month basis Open and regular communication with main lenders
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 PW33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 AcHIEVEMErS AND PERFORMANCE Archive and Colloclions Volunteers have continued to play a vital role at The Common Room. with a number of them making the transition to the common Room from NEIMME: Number of active volunteers Number of full catalo ued books on the s Number of books catalo ued since 2021 Number of hotos I ne atives scanned Value of hours of volunteer su rt since reo 52 13.871 5.246 5.928 £270 000 tem enin Volunteers mainly tend to be either students or retired individuals, some wth an attachment lo mininglengineering- others having an affinity with the North East's industrial history What is evident from their enthusiasm and commrtment is that they share a great deal of affection for The Common Room as a building. for its collection and for what those things represent. There are 52 active volunteers, of which 30 have been newly recruited Sin the award of the NLHF grant and a total number of volunteers deployed over the course of the project to 197 and aggregate volunteer days to 3,943. Two volunteers have secured places on archives MA courses thanks to their placements at The Common Room. Although some volunteers support Ihe open claysnours or the bulldlng, the majonty are utlllse¢J by the Library and Archives Manager in undertaking a number of activities relating to the collection. The volunteers Work primarily on scanning photographic prints and negatives and over 5.000 images have now been digitised and listed on spreadsheets. A strong workfiow has been developed for handling the negatives and presetving all the information on the external packaging. Once they are all digitised, repackaging for freezing can commence. The Collections online tool. Atoll, is now live wth the first upload of core archives images htt s'.Ilthecommonroom.or -uklcollectionsl Photographic images are now being added and the next stage will be to link in the scanned printed book images. Automatching the images to the metadata has been a challenging process for both us and the team at Ammba Digital but the success rate is improving. We had ourfirst NEIMME volunteers coming in to ty and identity people. places and objects in some of the imagery. Next, we plan to reach out to online volunteers to help identity more details within the previously unseen negative collections. Education and STEM En ement As well as hosts'ng and organising numerous events throughout the 2023124 year at The Common Room. participation in our programmes remained strong- Total ro ramme attendees students en ed in educational worksho Young people engaged with workshops. family events and science shows Schools re 20,000 2,290 6,500 resentin at STEM events 25
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P9f33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 Education and STEM En ement continued Our core education programme has engaged 2.290 students in our worf(shop series. Workshops this year included School of Rocks. 'Do it the Safety Way, LIVE. a choice of 10 drfferent LEGO themed workshops, Northern Aspirations and topically Ihemed STEM activities throughout the year. Our engagement developed alongside the needs of the students delivering to a range of schools including SEN specialist schools. Our children and family's outreach saw over 6.500 children parlicipale in STEM themed educational activities, learning about the history and mechaniGS of early and modern railways. industrial heritage of the Northeast. Sustainabilty and the move towards green energy and a host of other STEM activf(ies designed to engage a broad spectrum of ages. Interpretation panels around the building which describe the history and significance of the building, continue to be enjoyed by both the public and private clients. An audio tour of the building has gone live, narrated by past NEIMME president Bill Bell. The tour is accompanied by a map, signage and directional audio to aid listeners. We continued to have a good relationship with Newcastle City Guides who delivered tours for us throughout 2023. including for Herrtage Open Days in Seplember. Additional value was delivered over 2023124 including.- Space week activrties Pit Lasses talk and mini exhibition Buddle 250 year lebratIons11a1ksIexhlblt1On Speak the Fulure programme {Funded by Newcastle Cultural investment fund) working wth underrepresented groups and young people on a spoken word performan Facing the Future - public engagement training programme funded by Royal Academy of Engineering Inspiring Pioneers - diversifying blue plaques- highlighting Women in STEM, exchanging best practice across LA areas on representation of women through history. Supported by Newcastle University. Hosted plaque unveilings and neIorkIng events Host for Teakisi Black History Month event, 3rd year NE STEM neIOrk event for STEM educators Hub for RGS Maths programme delivery Commercial client base closely aligned with mission e.g Northumbrian Water, NELEP, Newcastle University, Royal Academy of Engineering. Weardale Lithium other events included building history tours and other activities not delivered by the programme team during 2023-24 financial year. such as= Kielder at The Common Room The Late Shows The Old Oak Film Screening. plus Q&A TISH screening plus Q&A
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 1L¥33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 Trading & Hospitality We hosted several flagship events for the business sector including Newcastle University Engagement and Place Awards Ceremony. the Royal Academy of Engineering conference and Northumbria Universty CAPE report launch. Our commercial building users were estimated at 37.000 to date. We also became a hub for family celebrations, wth 6 weddings taking place during the year, along with birthday parties and memorial events. Collaborations with other local cultural organisations also supported our business, including Generator and New Writing North and national organisations including Faber & Faber and Fever (promoters of Candlelight Concerts). PLANS FOR FUTURE YEARS Pro rammes Trustees have worked together with staff to develop strategic priorities for the future of our programmes. Our skills and educational adivity for the future falls into four key strands. Environment, Climate and Energy Futures - standing up for planet and people e.g. Young Climate Leaders, Programme,. net_zero lectures. debates. competitions and workshops Making the Inclusive Economy Work - helping young people find th8ir way Sustained partnerships in engineering sectors, including through sector tK)dies and leamed societies - to invigorale awareness of the opportunities in the region Workplace visits: Young Advisory Boards for undergraduate and graduate engineers and apprentices.. young diversity champions leading activities lo help companies recruit a diverse workforce e.g. The Face of Engineering., project-based assignments.. competitions- inspirational experiences through partnerships Supporting a better-qualified employee 'pipeline' e.g. convening MTlC- the Maths Teaching Innovation Collaborative Facilitating debate and collaboration on rapidly developing technologies for educators e.g. training on Al for Schools Living Archives: using lessons from the past to inspire a better future Launching and publicising our unique digital archive and developing stronger associated commercial opportunities Using our unique archival expertise and our heritage to support funded projects to preserve and animate important archives in line with our Mission e.g. the Jennie Shearan archive project- and sharing creative and heritage assets as widely as possible Exploring the opportunity to provide a seIce to corporate partners to bring their archive to lrfe 10
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 11r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 People and Place: activating our resource and partnerships for Equity and the Common Good Supporting community organising for a just transition - enabling everyday people to contribute to change Developing a programme of activities (on-site at CRGN. virtually and here people are'l to raise awareness of opportunity- create debate and discussion,. empower families and communities to engage in participatory activity.. signpost people to support where r( may be needed,. host debates and short-courses., and help develop the skills of everyday people to advocate for themselves and others e.g. in-work poverty Host andlor facilitate opportunities for learning and development e.g. in Citizen-centred Al The 4 Missions are deliberalely focused to enable everyone to be clear about our intended impact tor the Common Good., they will evolve as our engagement with communib'es grows. We will also conts-nue to welcome visitors to experience and use our building and resources. The planned programme of regular activities for the coming year includes.. Professional gatherings- salons. meetings and social events e.g. for engineering leaders A monthly lecture series, themed by topic and target audience Monthly debates, targeted as above Fortnightly tours of our historic building, nartated for impact Bespoke archive sessions Trading & Hospitality 2022 was the first year that CRGN traded in the nomial course of business. Learning from this and strategies relating to demand factors, operational challenges in an ever-changing market and a contracting recruitment pool. are now based on experience and evidence. This is helping fomiulate strategy as we move fOard CRGN and its charitable an cannot be sustained without trading income to support our overall purpose delivery. There is a high degree of good will for CRGN in the business communty. The overall product for hosting events offers a straighttorward differentiator that is very much in demand, in a great location, which also satisfies the growing need for sustainability in corporate strategy. This will complernent the securing of new non-trading revenues. and we hope protect the future purpose of the overall business. Summa of Aims for 2024-25 Appoint a new Chief Executive stabilise the charity and restore reserves Implement an impacfful set of programmes aligned with 4 key priorities Implement resilience strategies in Trading. Income Generation & Communications Increase trading to 70Wo by value to 30Wo of charitable income over the next 3 years Implement a donorcare strategy to ensure all contributors and supporters are kept informed of progress 11
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 12r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 Financial Review The out-turn for the year is an overall deficit of £169.511 (2023- deficit £92.601) which is an unrestricted deficit of £200.163 and a restricted surplus of £30,652 {2023: unrestricted deficit £96.949 and restricted surplus £4.348). The 30 June 2024 results leave Unrestricted Funds in a deficil Position of £512.022 (2023.. deficit posilion of £311.859} and the restricted surplus leaves £35,000 in Restricted Funds (2023 £4.348). Reserves Policy The Trustees have reviewed the charity's needs for reserves in line with the gutdance issued by the Charty Commission. The calculation of free reserves is based on the definition included in the charity Statement of Recommended Practice {SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requiremenls of the charity to hold free reserves those reseNes not invested in tangible fixed assets, excluding long tem liabilities, or designated for a particular purpose. The Trustees consider it to be appropriate to work towards building a fr cash reserve fund. to the equivalent of 6 month's operational costs. which would equate to £250.000. The Trustees would also then aspire to retsin an additional allowance of £50,000 to enable the charity to respond flexibly to events or appropriate initiatives which might be identified outside of rts annual budgets'ng process. At the year*nd free reserves, all of which currently link to the value of the building. were in deficit £131.191 (2023= Deficit £133,548} an increase of £2.357 {2023'. £120.734 increase} in the year. Re-appointment of Independent Examiner Simon Brown BA ACA DChA of Azets Audrt SeNices has indicated his willingness to stand for reappointment at the forthcoming Annual General Meeting. A resolution for the re-appointment of Simon Brown BA ACA DChA as Independent Examiner of the Company is to be proposed at the forthcoming Annual General Meeting. 12
VulualSvJknTrackn W 9LT-N92WJxW21 V[202507.4?.S4 GMT iufc+OID 111 P 13133 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) TRU8TEES' REPORT FOR THE YE4R ENDED 30 June 2024 RESPONSIBILITIES OF THE TRUSTEES The trustees are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resour5 and application or resources or the charity ror that period. In preparing these financial slatements, the Trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP., makejudgments and estimates that are reasonable and prudent- State whether applicable UK Accounkn'ng Standards have been followed. subject to any material departures disclosed and explained in Ihe financial slatements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records that 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. The Trustees are also responsible for safeguarding the assets of the charttsble company and hen for taking reasonablesteps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees Mr M Boyle Trustee Company Registration Numb8r 10609517 Date 27 March 2025 13
VulualSvJknTrackn W 9LT-N92WJxW21 V[202507.4?.S4 GMT iufc+OID 111 P 141 THE COMMON ROOM OF THE GREAT NORTH LIMITED {A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT- YEAR ENDED 30 JUNE 2024 I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. Responsibilities and basis of roport As the charity's trustees of the Company (who are also the directors of the company for the purposes of company lawl. you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act'}. Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charty's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act"}. In carrying out my examination, I have followed the Directions given by the Charity Commission {under section 145{5}(b) of the 2011 Act. Indepondant examiner's statement The company's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of ICAEW. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below) which gives me cause to believe that.. accounting records were not kept in accordance with section 386 of the Companies Act 2006" or the accounts do not accord with such records- or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. or .Ihe accounts have not been prepared in accordance wilh the Charilies SOF<P IFRS102). I have no concems and have come across no other matters in connection with the examination, other than the trustees. disclosure of the material uncertainty in relation lo the going concern of the charity (which has been fully disclosed in Note 1- Going Concern) to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Disclosure Note 1- Going Concern gives fvll details of the trustees. consideration of going concern and the key assumptions that they have considered when determining whether the charty's financial statements should be prepared on the going concern basis. They have concluded that the uncertainty over the timing and levels offorecast income and the willingness of funders to provide additional support means that they consider there to be a matenal UnrtaInty in respect of the ability of the charity to continue as a going concem. Simon Brown BA ACA DChA Azets Audit seICe5 Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS 2710312025 14
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 1Y33 THE COMMON ROOM OF THE GREAT NORTH LIMITED {A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 June 2024 Note Unrestrict&d Rostrtcted Total Total Funds Funds 2024 2023 Income Income from Grants, Donations & Legacies Income from Charitable 136,380 357,596 493,976 514,978 Activities 86,261 86,261 134,492 Trading Income Total Incom8 322.220 544,861 322.220 902,457 293,076 942,546 357,596 Expenditure Cost of Raising Funds Expenditure on Charitable Activities 322,226 322,226 293,893 422.798 326.944 749.742 741.254 Total Exp0nditur• Net 745,024 326,944 1,071,968 1,035,147 Incomel{Expenditure) Transfer between fund (200,163) 30,652 (169,511) (92,601) Net Mov8mont (200,163) (311,8591 (512,022) 30.652 4,348 35,000 1169,511) (307,511 } 1477,0221 (92.6011 {214,9101 {307,511) Balan brought forward Balance carried fOard 18 The notes on pages 19 to 33 fom part of the financial statements. There are no recognised gains and losses during the year other than as shown above. All the adivtties for the year are continuing activities. The Statement of Financial Activities also complies with the requirements for an Incorne & Expenditure Account under the Companies Act 2006. 15
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 1W33 THE COMMON ROOM OF THE GREAT NORTH LIMITED {A Company Limited by Guarantee) COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 June 2023 Noto Unr8stricted Rèstricted Funds Funds Total 2023 Income Income from Grants, Donations & Legacies 146,693 368,285 514.978 Income from Charitable Activities 134.492 134,492 Trading Income 293,076 293,076 Total Income 574,261 368,285 942,546 Expenditure Cost of Raising Funds 293,893 293,893 Expenditure on Charitable Activities 377.317 363.937 741.254 Tolal Expenditure 671,210 363,937 1,035,147 Net IncomellExpenditure) {96,949) 4,348 (92,601 Transfer botwoon funds Net Movement 196,949) 4,348 (92,601) Balance brought forward (214,910) (214,910) Balance carried forward 18 (311,859 4,348 (307,511) The notes on pages 19 to 33 form part of the financial statements. All the activities of the company are classed as continuing. The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared. 16
For the financial year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 18r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) STATEMENT OF CASHFLOWS AS A T 30 June 2024 2024 2023 Cash flows from oparatlng acllvltles Net cash {expenditureyincome Adjustments to cash flows from non<ash items Depreciation Impairment Disposal of fixed assets Gifts in kind Note (169,511) (92,6011 30.539 69,732 (138.972) 122.8691 Worklng capltsl adjustments Decre8sel{Increase) in Stock Decreasel{Increase) in debtors Increasel{decreasel in creditors Net cash flows from operating activities 13 14 15 665 22,713 30.900 727 37,709 124,7591 (84,6941 (9,192) Cash flows from Investlng acllvltles Purchase of tangible fixed assets 11 {1.4101 (3.8821 Net cash flows from investing activities {1.4101 (3.882) Cash flows from financing activities New loans Interest charged and repayments made on loans and k)rrowngs 89.522 147,3781 Net Idecrease)lincrease in cash and cash equivalents 3,418 160,4521 Cash and cash equivalents at 1 July 2023 500 60,952 Cash and cash equivalents at 30 June 2024 3.918 500 All of the cash flows are derived from continuing operakn'ons during the above periods. 18
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P 19r&3 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Accounting Policies Golng Concern The financial statements have been prepared on a going concem basis. The charity has met its day to day working capital requirements through income from commercial operations. grant funders supporting the charity. loans. and an overdraft facility. The charity's cashflow forecast projects that trading income from commercial activtties will continue to grow. In the opinion of the directors. subject to the qualifications below, the charity should therefore be able to continue to operate for at least a period of 12 months from the approval of the financial statements. It is important to note that the forecast makes a number of key assumpts'ons= The charÉty's commercialnrading operations will continue lo grow as projected in the business plan produced with the support of the consultants Core costs have been reduced in a restructuring without impacting the capability to deliver objects, aims and programme. A futher review of supplier cosls is in progress again wth the support and experience of the events consultant- Funding applications to grant providers will be successful., Membershiplsponsorship support will be forthcoming from corporate entities active in the advancement of science. technology engineering and mathematics- Ongoing support from lenders who recognise the value of The Common Room the cty and the region.. Ongoing support from Twstees and Members of the Organisation. Based on the assumptions set out above, the directors have prepared the )Inancial statements on a going concern basis. However, should debt restructuring, commercial activity. grant funding and fundraising levels as forecasted not be achieved Ihis would create a strain on cash11ow and have a material impact on the ability of the charity to meet its borrowing commitments, without further additional funding or current lenders fvrther revising terms. As a result of the uncertainty in the timing and levels of income being forecast. and the willingness of funders to provide additional support. the directors consider that there is a material uncertainty in respect of the ability of the charity to continue as a going concem. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. 19
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P2L¥33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Accounting Polici85 {Contlnu8d) Charlty Informatlon The Common Room of the Great North Limited is a private company. limited by guarantee, incorporated in England and Wales. The registered office is North of England Institute of Mining & Mechanical Engineers. Neville Hall. Westgale Road. Newcastle upon Tyne NE1 1 SE. The charity is a public benefft entity. Statement of Compliance These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the United Kingdom and Republic ot Ifeland'{'FRS 102,), and with the Companies Act 2006 and the Statement of Recommended Practice (Charitie5 SORP FRS 102 effective January 20191 "Accounting and Reporting by Charitie5" and the Charities Act 2011. The financial statements have been prepared on the historical cost basis having impaired the fixed asset freehold land and buildings down to its market value, having recognised the 'conservabon deficit, for which specific grant funding has been received. The financial statements are prepared in sterling. which is the functional currency of the charity. Estlmation Uncertainty and Judgements The preparation of the financial statements requires management to make judgements. estimates and aSsump.0nS that affect the amounts reported. Management have approved deprecialion, prepayment5, accrua15 and other cut-off adjustrnenls, including Ihe impaimient of the land and buildings to its marf(et value lo recognise the conservation deficit for which specific grant funding has been received. Whilst management believe that these estimates and judgements are accurate, there is every likelihood that they will not be exact. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the Circumstan5. 20
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P21r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Accounting Policies (Continued) Incomo All income, including grant income, is included in the Statement of Financial Activities (SOFA), net of VAT, when the charity is legally entided to it after any perfonnance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Such income is only defetred when the d(Or or funder has specified that the grant or donation can only be used in future accounling periods or where the donor or funder has imposed conditions which must be met before the charity has unLx)nditional entitlement. other income is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business. net of discounts, VAT and other sales related taxes. Expendlturg All expenditure is accounted for on an accruals basis and is recognised when a liability is incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It inc]udes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Supr)ortor Indirect costs are those costs incurred in support of the charitable objectives. These have been allocated to the resources expended on a consistent basis that fairly reflecls the Irue use of those resources wilhin the organisation. such as allocaling slaff costs by lime spent and other costs by their usage. Governance costs are those incurred in the govemance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Irrgcoverable VAT All resources expended are classified undef activity headings that aggregats all costs related to Ihe calegory lffecoverable VAT is charged against the category of resources expended for which it was incurred. Operating Leases The chaTity da55ifies the lease of certain printing equipment as operating leases a5 the title to the equipmenl remains wilh the lessor. Rental charges are charged against income on straight-line b8sis over the period of the lease. 21
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P22r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Accounting Pollci95 (Continued) Tanglble Flxed Assets and Depreclatlon Depreciation is provided on the fixed assets at rates calculated to write off the assets over their remaining useful lives as follows.. Freehold Land & Buildings Computer Equipment Office Equipment. Fumiture & Fittings - over 50 years 33% per annum straight line 25% per annum slraight line The building is held at historic cost and impaired to ensure it does not exceed its market value. The value of the building at compleb.on is £2.1 m, but lunding allows a "conservation deficir where Capital Works will be capitali5ed and the building impaired during the project, such that the value of the building never exceeds the completion valuation. Impairment of Flxed Assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset 15 estimated in orderto determine the extent of the impaiment loss lif any). Cash and Cash Equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short- temi liquid investment5 Wlth original maturities of three months or le55. and bank overdraft5. Bank overdrafts are shown within borrowings in current liabilities. Fixed Asset Investments Fixed asset inveslments are initially measured at transaction price excluding transaction costs and are subsequenlly measured al fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaction costs are expensed as incurred. Trade debtors Trade and other debtors are recognised al the settlement amount due after any tradediscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Trade credltors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligat.on can be measured or ests"mated reliably. Creditors and provision are normally recognised at their settlement amount after allowing for any trade discounts due. 22
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P23r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Accountlng Policies (Continued) Fund Accountlng The charity has a number of restricted income fijnds to account for situations in which a fijnder requires that a grant must be spent on a path"cular purpose or where funds havebeen raised for a specific purpose. The aim and use of each restrictsd fund are set out in Note 16 to the financial statements. Restricted funding received for capital works will be recognised as restricted income. Once the money has been spent on the project. where there are no further ongoing restrictions of the asset. a transfer from Restiicted Funds to Unrestricted funds will be made. Funds considered Unrestricted Funds and are available for use at the discretion of the Trustees in fvrtherance of the general objectives of the charity. Penslons The charity contributes to a defined contribution scheme, as detsiled in Note 10. For the defined contribution scheme. the amount charged to the Ststement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences beeen contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet. Taxation The Common RTh)m of the Great North Limited is a registered charity and. as such. is not liable to taxation on its income in the current year. Financial Instruments The charity has elected to apply the provisions of Seclion 11 'Basic Financial Instruments'and Section 12 '0ther Financial Instrument Issues, of FRS102 to all its finanual instruments. The charity only has financial assets and liabilits.es of a kind that quality as basic financial instruments. Basic financial instruments are initially recognised at transath.on value and subsequently measured at their settlement value. Legal Status The charity IS 8 company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees. There are currently 10 members of the company as at the year end (2023.. 10). 23
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P24r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Income from Grants, Donations & Legacies Unrestrlcted Restrlcted Funds Funds 2024 2023 Grant Income NCIF via Community Foundation Royal Academy of Engineering Ingenious Awards National Lottery Heritage Fund - Delivery Platten Family Fund via Community Foundation The Foyle Foundation John Swire 1989 Charitable Trust Historic England- Women in Shipbuilding 10.000 8,879 303.717 10,000 8,879 303,717 5,000 8,879 336.906 5.000 35.000 35.000 35,000 5,000 35,000 5,000 40,000 357,596 397,596 355,785 Donatlons Northumbrian Water North of Tyne Combined Authority The B8rbour Foundation A Platten Anonymous A Pender M&ABoyle Howarth Lilchfield Partnership NEIMME General donations Gift Aid 3.200 5.000 5,000 25,000 40,000 240 50.511 72.000 500 540 4.903 18437 96,380 136,380 72.000 500 540 4,903 1.424 96,380 493,976 159,193 514,978 357,596 Of the 2023 total of £514,978, £146,693 was attributed to unrestricted funds and £368,285 to restricted fijnds. 24
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P2Y33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Income from Charltable Actlvltles Unrestrlcted Funds Restrlcted Funds 2024 2023 Book Sales other Eamed Income Room Rental Events Income 2,263 2,263 1,413 6,895 46,800 79.384 134.492 45,000 38,998 86,261 45,000 38,998 86,261 In 2023 all income from charitable activities was attributable to unrestricted funds. other Income Unrestrlcted Restrictod Funds Funds 2024 2023 other Income - trading 322 220 322 220 293 076 322,220 293,076 322,220 Trading income is in line with the charty's prirnary purpose objectives. Fundraising Costs Unrestricted Funds Restricted Funds 2024 2023 Cost of Sales Salaries 116,513 116.513 111,968 205,713 322,226 205,713 322,226 181,925 293,893 25
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P2W33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Expenditure on Charitable Activities Unrestrict8d Funds Restricted Funds 2024 2023 Dlrect Costs- Charltable Actlvltles Activity Plan Costs Professional Fees Marketing & Communications Salaries & On Costs Evaluation Equipmenl Cost of Sales for Events Support Costs Bank Charges Depreciation Disposal of Fixed Asset Legal & Professional Impaimient {conservation deficit) Removal & Storage Fee5 Rent, Rates & Water Heat & Light Insuran Loan Interest and Charge5 ICT Support, Sofvare & Maintenance Olher Overheads Recruitment Repairs & Maintenance staff & Volunteer costs Governance Costs Audit Fees Pension & Payroll Fees 7,227 18.521 1.978 54.572 20.776 64,454 4,525 221.832 28,003 82,975 6,504 276.404 43,625 281 288.730 10,854 3D7 30.539 12 319 30,539 278 69,732 8.702 8.702 35.294 16 7.939 36.939 44.411 118.889 27.238 22.178 647 14.331 4,617 3.419 52.896 39.872 119.188 26.883 36.985 162 1.332 1.895 3.581 54,228 41.767 119.188 30.735 39.068 3,852 2.083 12.821 2,1]02 1.316 4,629 14.137 6,631 5.462 1.424 422,798 5,462 1.500 749,742 13.800 1.455 741,254 76 326,944 Of the 2023 total of £741.254. £377.317 was attributable to unrestricted funds and £363.937 to restricted funds. 26
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P27r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 Net Incomel(Expendlture) 2024 2023 Net incomel{expenditure) is stated after chargingllcreditingl.. Auditor's Remuneration Independent Examination Fee other accountancy fees Depreciation of owned Tangible Fixed Assets Impairment of owned Tangible Fixed Assets 13.800 5.274 188 30,539 45 69,732 Staff Costs & Trustees, Remuneration Unrestricted Funds Restricted Funds 2024 2023 Gross Salary Costs Social Securty Costs 237,605 17,000 202.466 14,519 440,071 429,351 31,519 30,942 Employer's Pension Contributions - Defined Contribution Scheme 5.680 4,847 10.527 10.362 260,285 221,832 482,117 470,655 The average monthly number of staff employed during the year, was as follows: 2024 2023 Cultural & Creative Leaming Programmes 30 26 The number of above staff expressed as full-lime equivalent was 16 (2023- 16) No employees received remuneralion. including employer's pension contributions. in excess of £60.000 in the year {2023= None} The total paid to key management personnel. defined as the members of the Senior Management Team. was £86.706 {2023'. £95,861). No remuneration has been paid to any TrusteeslDirectors in the year {2023= Nil) and no reimbursement has been made of any Travel and Subsistence expenses to Trustees in respect of their attendance at meet.ngs of the charity12023: Nill. 27
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P28r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 10. Pension Scheme Employels Contributions totaling £10,527 (2023= £10.3621 were paid during the year into the defined contribution pension scheme operated in respect of the above staff. £1,550 in pension contributions were outstanding at 30 June 202412023: £2,383). Pension benefits are provtded through a Group Personal Pension Scheme operated by The People's Pension, which is adefined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. The charity makes an employerfs contribution of 3% of pensionable pay. provided that the employee makes a minimum contribution of 5%. These amounts are paid over to the Fund on a monthly basis. 28
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P29r&3 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 11. Tanglbl8 Flxed Assets Freehold Land & Buildings Office + Total Fixed Assets Equipt Cost At 1 July 2023 Additions Disposals At 30 June 2024 6.145.412 294,110 1,410 6.439.522 1,410 6.145,412 295,520 6,440.932 Accumulated Depreciation At 1 July 2023 Charge for year Impaimienl in year At 30 June 2024 4.045.412 223,709 30.539 4.269,121 30.539 4.045,412 254,248 4,299.660 Net Book Value At 30 June 2024 2,100,000 41,272 2,141,272 At 30 June 2023 2.100.01i0 70,401 2.170.401 The value of the building at completion is £2.1 m, but fijnding allows a -conservation defi where capital works will be capitalised and impaired during the project build. At 30 June 2024 the total conservatson deficit write off was £4.045,412 {2023.' £4,045.4121 12. Investments 2024 2023 Investment in trading subsidiary- Common Rwm Trading The Common Room of the Great North Limiled owns 100% of the Share capital of Common Room Trading Limited (Company Number 106201191. The company was dormant throughout the current and comparative peiiod. 13. Stock 2024 2023 Stock held at 30 June 2.127 2.792 29
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 PW33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 14. Debtors 2024 2023 Trade Deblors Grant Debtors Prepayments Accrued Income 41.079 56.498 50,299 36,348 117,673 140,386 2024 2023 15. Credilor5- Amounts falling due in Le55 than 1 year VAT, Other Taxes & Social Security Costs Trade Creditors 25,682 100.413 18,082 59,254 other Creditors- Credit Card Sundry Creditors Accruals and Deferred Ino)me Wages Other Creditors- NEIMME Other Creditor5- CRGN donation to NEIMME Other Creditors- Unpaid Share Capital other Creditors - Pension Contnbutions Loan - Newcastle City Council Loan - North East LEP Short Temi Loan - North East LEP 375 1.785 65.097 385 1,735 76,714 25,0 25,000 1.550 2,383 83,869 219,909 272,878 30
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P31r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 16. Creditors - Amounts Falling Due After > 1 Year 2024 2023 Loan - Newcasue City Council Loan - North East LEP Loan - North East LEP Donation - CRGN to NEIMME 748,957 1,663,768 84.379 721,874 1,584,788 17.051 2,522,104 2,348,713 Newcastle City Council Loan Interest rate.. 7.4% Repayment date: June 2044 North East LEP Interest rate.. 4.86% Repayment date: March 2037 The total drawdown facility for the North East LEP loan is £1.5million. The North Easl Combined Authority and The Trustees of the National Heritage Memorial Fund hold a first charge on Neville Hall and Wood Memorial Hall. Weslgate Road. Newca5de upon Tyne 17. Analysls of Net Assets between Funds Unrestricted Restricted Funds Funds Total 2024 Fixed Assets & Investments Net Current Assetsllliabilitr"es) Creditors- Amounts Due Afler 1 Year 2,141,273 1131.191) 2522 104 (512,022) 2,141,273 196,191) 2 522 104 (477,022) 35,000 35,000 Unrestricted Restricted Funds Funds Total 2023 Fixed Assets & Investments Net Current Assetsllliabilities) Creditors- Amounts Due After 1 Year 2,170,402 1133,548) {2.348.713} 2.170,402 1129,200) (2,348,713) 4,348 1311,859) 4,348 1307,511) 31
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P32r33 THE COMMON ROOM OF THE GREAT NORTH LIMITED (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2024 18. Analysls of Charltable Funds Fund at Incomlng 014ul43 Resources Translers Resources Fund at Expended 30Un.24 In Yoar In Y•ar Unrestricted Funds Genefal Charity Fund Total Unrestricted Funds 1311,8591 1311,8591 544,861 544,861 745,024 1512,0221 1745,024} 1512,0221 Restrlcted Funds National Lottery Heritage Fund - Delivery Other 303,717 1303.7171 4,348 4,348 1307,5111 53,879 357,596 902,457 123,2271 35,000 1326.9441 35,000 11,071,968) 1477,0221 Total Restrlcted Funds Total Funds Name of Restricted Fund: National Lottery HeritageFund- Delivery Doscription. natur6 and purpose of RerIcted Fund: Towards the 'Delivery' phase of a project to re- develop Neville Hall Match Funding - Delivery NCIF via Community Foundation Royal Academy of Engineering Ingenious Awards Foyle Foundation John sire 1989 Charitable Trust Individual Donations and Gfft Aid 32
[IlsJjTTThc 9LKT-NWWJXW27 V[202507.4tS4 GMT iufc+OID 111 P33r33 19. Related Parties The Common Room of the Great North Limited {CRGN} have identi)led following relationships should be disclosed as related parties.. Party: Common Room Trading Limited Relationship= 100% Owned Subsidiary Nature of Transactions in the year.. None At 30 June 2024 and at 30 June 2023. CRGN owed £1 to Common Room Trading Limited in respoct of unpaid share capitsl. Party= North of England Institute of Mining & Mechanical Engineers INEIMMEI Relationship= Trustees in common and previous owner of Neville Hall Nature of Trans8ction'. Joint funding received for Neville Hall restoration from National Lottery Heritage and Reece Foundation, plus transfer of agreed assets and liabilities to CRGN with effect from 1 March 2019. During the year, NEIMME paid £5.333 to CRGN (2023.. £2.8981. This was for Conference £2.520 Dinner £1.696 Refreshments £577 and donation to Buddle event £540. At 30 June 2024 there is a contractual liability of £50.000 (2023-. £50.0001 payable to NEIMME in 2 x £25,000 payments and a liability of £612023: £6) payable to NEIMME under the terms of the transfer agreement. 20. Analysis of Net Debt At 1 July New At 30 June 2023 Cashflow Advance5 2024 Cash at bank Amount due < 1 year NE LEP Short Temi Loan NEIMME Amounts due > 1 year Mortgage NE LEP Loan NE LEP Loan NEIMME 500 3,418 3.918 183.8691 125.0001 83,869 125,0001 {721,8741 {1,584,7881 117,0511 125.0001 (2.457,0821 127,0831 178,9801 167,3281 1748,9571 (1,663,768) 184,3791 125.0001 12.543,1861 186,1041 33