OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 1177215

The Hazelwell Centre CIO

Unaudited Financial Statements 31 December 2024

TREMAINE

Chartered accountants 19 Tremaine Close Hartlepool TS27 3LE

The Hazelwell Centre CIO

Financial Statements

Year ended 31 December 2024

Page
Trustees' annual report 1
Independent examiner's report to the trustees 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7

The Hazelwell Centre CIO

Trustees' Annual Report

Year ended 31 December 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Reference and administrative details

Registered charity name The Hazelwell Centre CIO Charity registration number 1177215 Principal office The Hazelwell Centre Windsor Terrace Haswell DH6 2DY Durham

The trustees

C Kell N Mills A Surtees D Brooks R Hardy D Omide (Appointed 18 September 2024) L Clarkson (Appointed 18 September 2024) I Cochrane (Resigned 18 September 2024) K Hawley (Resigned 18 September 2024) D Howarth (Resigned 18 September 2024) Independent examiner Julie Todd Tremaine Chartered Certified Accountant 19 Tremaine Close Hartlepool TS27 3LE

Structure, governance and management

The charity registered as a Charitable Incorporated Organisation foundation on 19 February 2018.

Prior to incorporation the charity was known as The Hazelwell Centre a registered unincorporated charity constituted by trust deed dated 19 March 1980 and March 2004, charity registration number 511403.

Upon incorporation all of the charity assets were transferred to the new CIO.

1

The Hazelwell Centre CIO

Trustees' Annual Report (continued)

Year ended 31 December 2024

Objectives and activities

The charity was formed to:

Further or benefit the residents of Haswell and Haswell Plough and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.

In furtherance of these objects but not otherwise, the trustees shall have power:

Achievements and performance

In May 2023 we had a number of new Trustees join the board with the intention of re-establishing the centre as a focal point in the community. We reviewed our Governance Arrangements and implemented stronger and more robust systems, procedures and policies. Following a survey of the centre a number of items were identified for refurbishment, and a full redecoration took place.

The Centre relaunched on 28th July with an open day and consultation event where over 100 residents attended. From the results of the consultation it was identified that activities for young people were required.

We obtained a small grant from Ballinger Trust through their National Lotteries programme and we started our own Youth Club operating on Wednesdays for the young people of Haswell. We also welcomed Direct Steps as a tenant in the centre, they rent Suite One and use the centre Monday through Friday for delivery of their services.

Work is continuing in the centre to re-establish its presence in the community through grant applications and delivery of new services. We are also setting up a programme of maintenance schedule for continued improvements to the centre and MUGA.

2

The Hazelwell Centre CIO

Trustees' Annual Report (continued)

Year ended 31 December 2024

Financial review

The unrestricted reserves of the charity as at 31 December 2024 stand at £414,975, of which the free reserves (that is those not tied up in fixed assets) amount to £43,685.

Reserves and Risk Policy

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.

The charity has a reserve policy which is kept under review and which currently seeks to maintain a minimum level of reserves of approximately 12 months running costs. The Trustee Board recommends that the policy on reserves be reviewed annually in order to take into account the forward operating costs of the organisation.

Trustees actively seek new sources of funding to continue its future activities.

The trustees' annual report was approved on 29 October 2025 and signed on behalf of the board of trustees by:

C Kell Trustee

3

The Hazelwell Centre CIO

Independent Examiner's Report to the Trustees of The Hazelwell Centre CIO

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of The Hazelwell Centre CIO ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement - matter of concern identified

I confirm that no other matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Julie Todd Tremaine Chartered Certified Accountant Independent Examiner

19 Tremaine Close Hartlepool TS27 3LE

4

The Hazelwell Centre CIO

Statement of Financial Activities

Year ended 31 December 2024

2024 2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 31,374 31,374 57,558
Charitable activities 5 12,245 12,245 400
Investment income 6 51 51
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total income 43,670 43,670 57,958
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities 7 64,048 64,048 57,064
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total expenditure 64,048 64,048 57,064
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net (expenditure)/income and net movement in funds (20,378) (20,378) 894
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 435,353 435,353 434,459
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total funds carried forward 414,975 414,975 435,353
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 12 form part of these financial statements.

5

The Hazelwell Centre CIO

Statement of Financial Position

31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 12 371,290 382,960
Current assets
Cash at bank and in hand 43,785 52,493
Creditors: amounts falling due within one year 13 100 100
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net current assets 43,685 52,393
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities 414,975 435,353
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 414,975 435,353
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds 414,975 435,353
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total charity funds 14 414,975
৶৶৶৶৶৶৶৶৶
435,353
৶৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 29 October 2025, and are signed on behalf of the board by:

C Kell Trustee

The notes on pages 7 to 12 form part of these financial statements.

6

The Hazelwell Centre CIO

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Hazelwell Centre, Windsor Terrace, Haswell, DH6 2DY, Durham.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. 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 circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

7

The Hazelwell Centre CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

8

The Hazelwell Centre CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line
Plant and machinery - 4% straight line
Equipment - 25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 1,114 1,114
Believe Housing 1,472 1,472
Shotton Partnership 260 260
Asda Foundation 497 497
Legacies
Hilda Edith Westgarth 5,000 5,000
Grants
Coalfields Regeneration Trust 4,896 4,896
Durham County Council 8,110 8,110 27,085 27,085
The Ballinger Charitable Trust 17,678 17,678 10,000 10,000
Co Durham Community Fund 3,000 3,000 9,820 9,820
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
31,374 31,374 57,558 57,558
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

9

Notes to the Financial Statements (continued)

The Hazelwell Centre CIO

Year ended 31 December 2024

5. Charitable activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Room hire 1,935 1,935 400 400
Rent 10,305 10,305
Sundries 5 5
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄ
12,245 12,245 400 400
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Interest received 51 51
৶৶৶৶ ৶৶৶৶ ৶৶৶৶ ৶৶৶৶
7. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
General Fund 48,007 48,007
Fixed Asset Fund 16,041 16,041
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ
64,048 64,048
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
General Fund 39,354 39,354
Fixed Asset Fund 15,460 15,460
RSPCA Felledge Equine Unit 2,250 2,250
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
54,814 2,250 57,064
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
8. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 16,041 15,460
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
9. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 100 100
৶৶৶৶ ৶৶৶৶

10

The Hazelwell Centre CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2024

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 3,108
৶৶৶৶৶৶৶ ৶৶৶৶

The average head count of employees during the year was 1 (2023: Nil). The average number of full-time equivalent employees during the year is analysed as follows:

2024 2023
No. No.
Charitable activities 1
৶৶৶৶ ৶৶৶৶

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

11. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

12. Tangible fixed assets

Freehold Plant and
property machinery Equipment Total
£ £ £ £
Cost
At 1 January 2024 603,000 95,000 698,000
Additions 4,371 4,371
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
At 31 December 2024 603,000 95,000 4,371 702,371
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Depreciation
At 1 January 2024 250,640 64,400 315,040
Charge for the year 12,060 3,800 181 16,041
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
At 31 December 2024 262,700 68,200 181 331,081
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Carrying amount
At 31 December 2024 340,300 26,800 4,190 371,290
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
At 31 December 2023 352,360 30,600 382,960
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
13. Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 100 100
৶৶৶৶ ৶৶৶৶

11

The Hazelwell Centre CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2024

14. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 1 January 31 December
2024 Income Expenditure Transfers 2024
£ £ £ £ £
General Fund 48,858 43,670 (48,007) (4,371) 40,150
Capital/Contingency
Fund 3,535 3,535
Fixed Asset Fund 382,960 (16,041) 4,371 371,290
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
435,353 43,670 (64,048) 414,975
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
At
At 1 January 31 December
2023 Income Expenditure Transfers 2023
£ £ £ £ £
General Fund 30,254 57,958 (39,354) 48,858
Capital/Contingency
Fund 3,535 3,535
Fixed Asset Fund 398,420 (15,460) 382,960
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
432,209 57,958 (54,814) 435,353
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶

15. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 371,290 371,290
Current assets 43,785 43,785
Creditors less than 1 year (100) (100)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 414,975 414,975
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Unrestricted Total Funds
Funds 2023
£ £
Tangible fixed assets 382,960 382,960
Current assets 52,493 52,493
Creditors less than 1 year (100) (100)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 435,353 435,353
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

12