2023-12-31-accounts - Peel Centre Charitable Trust (CIO)

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REGISTERED CHARITY NUMBER: 1182841

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Peel Centre Charitable Trust (CIO)

C J Woodhead & Co Ltd
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE

The Peel Centre Charitable Trust (CIO)

Contents of the Financial Statements
for the Year Ended 31 December 2023

	`Page`
`Report of the Trustees`	`1 to 3`
`Independent Examiner's Report`	`4`
`Statement of Financial Activities`	`5`
`Balance Sheet`	`6`
`Notes to the Financial Statements`	`7 to 12`
`Detailed Statement of Financial Activities`	`13`

The Peel Centre Charitable Trust (CIO)

`Report of the Trustees for the Year Ended 31 December 2023`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2023.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
the FinancialReportingStandardapplicablein the UK and Republicof Ireland(FRS 102)(effective1  January
2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

TofurtherorbenefittheresidentsofDronfieldandtheneighbourhood,withoutdistinctionofsex, sexual
orientation,raceorofpolitical,religiousorotheropinionsbyassociatingtogetherthesaidresidents and
thelocalauthorities,voluntaryandotherorganisationsinacommonefforttoadvanceeducationand to
providefacilitiesintheinterestsofsocialwelfareforrecreationandleisuretimeoccupationwith the
objective of improving the conditions of life for residents.

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

Toestablishorsecuretheestablishmentof a communitycentreand tomaintainormanageor co-operate
withany statutoryauthorityin the maintenanceand managementof such a centreforactivities promoted
by the charity in furtherance of the above objects.

`ACHIEVEMENT AND PERFORMANCE`

`Fundraising activities`

Themainsourcesofincomearefromthelettingofroomsataffordableratestocommunity groups
together with donations and legacies.

`FINANCIAL REVIEW`

`Investment policy and objectives`

Under the constitution,the charityhas the power to investin any way that the Trusteeswish but subject to
the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.

Thetrusteesoperateadepositaccount,whichinteractswiththecurrentaccountwhilstproducing an
interest return on the surplus funds.

`Reserves policy`

Thetrusteeshaveestablishedthelevelof reservesthatthecharityoughttohave.Reservesareneeded to
bridge funding gaps should there be a shortfall in lettings.

Thetrusteesconsiderthatthelevelofreservesrequired,excludingfixedassetstobe£5000.The actual
level of reserves at 31st December 2023 was £278,249 (2022 -  £282,962).

Page 1

The Peel Centre Charitable Trust (CIO)

`Report of the Trustees for the Year Ended 31 December 2023`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

ThePeelCentreisacharitableincorporatedorganisationgovernedbyitsconstitutiondated5th April
2019.It is registeredas a charitywith the CharitiesCommission.Membershipof the CIO must be  approved
by the Board of Trustees.

ThemembersoftheCIOshallbeitscharitytrusteesforthetimebeing.Theonlypersonseligibleto be
members of the CIO are its charity trustees. Membership of the CIO cannot be transfered to anyone else.

Anymemberandcharitytrusteewhoceasestobea charitytrusteeautomaticallyceasestobea member
of the CIO.

`Recruitment and appointment of new trustees`

Assetoutintheconstitutionthetrusteesshallbesubjecttoamaximumoftwelvetrusteesandshall not
be less than three trustees.The only persons eligible to be members of the CIO are its charity trustees.

`Organisational structure`

The Board of Trustees administers the Charity. The Board meets monthly.

`Induction and training of new trustees`

Newtrusteesarebriefedontheirlegalobligationsundercharityandcompanylaw,thecontentof the
constitution, the committee and the recent financial performance of the charity.

`Related parties`

ThecharityhasacloserelationshipwithTheDronfieldHeritageTrust,anorganisationresponsible for
maintaining, promoting and utilising an historic barn which is situated close to the Peel Centre.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

High Street
Dronfield
Derbyshire
S18 1PY

`Trustees`

Mrs D Smillie
B Simpson
Miss C Vaughan
Miss J Ward
M Baker (resigned 18.3.24)
Miss K Cockayne (resigned 18.3.24)

Page 2

The Peel Centre Charitable Trust (CIO)

Report of the Trustees
for the Year Ended 31 December 2023

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Independent Examiner`

C J Woodhead & Co Ltd
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE

`COMMENCEMENT OF ACTIVITIES`

The CIO commenced its activities on 01/07/19.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................
Trustee

Page 3

Independent Examiner's Report to the Trustees of
The Peel Centre Charitable Trust (CIO)

`Independent examiner's report to the trustees of The Peel Centre Charitable Trust (CIO)`

I reportto the charitytrusteeson my examinationof the accountsof The Peel Centre CharitableTrust (CIO)
(the Trust) for the year ended 31 December 2023.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

I reportin respectof myexaminationof theTrust'saccountscarriedoutunderSection145of theAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:

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

2. the accounts do not accord with those records; or

3. the accounts 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

Christopher John Woodhead

C J Woodhead & Co Ltd
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE

Date: .............................................

Page 4

The Peel Centre Charitable Trust (CIO)

Statement of Financial Activities
for the Year Ended 31 December 2023

`Unrestricted` `fund` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `2` `27,464` `Investment income` `3` `459` `Other income` `-` `Total` `27,923` `EXPENDITURE ON` `Other` `32,636` `NET INCOME/(EXPENDITURE)` `(4,713)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `282,962` `TOTAL FUNDS CARRIED FORWARD` `278,249`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-`	`31.12.23` `Total` `funds` `£` `27,464` `459` `-` `27,923` `32,636` `(4,713)` `282,962` `278,249`	`31.12.22` `Total` `funds` `£` `21,774` `89` `2,667` `24,530` `47,217` `(22,687)` `305,649` `282,962`

The notes form part of these financial statements

Page 5

The Peel Centre Charitable Trust (CIO)

`Balance Sheet 31 December 2023`

`Unrestricted` `fund` `Notes` `£` `FIXED ASSETS` `Tangible assets` `6` `250,902` `CURRENT ASSETS` `Debtors` `7` `3,980` `Cash at bank` `28,521` `32,501` `CREDITORS` `Amounts falling due within one year` `8` `(5,154)` `NET CURRENT ASSETS` `27,347` `TOTAL ASSETS LESS CURRENT LIABILITIES` `278,249` `NET ASSETS` `278,249` `FUNDS` `9` `Unrestricted funds` `TOTAL FUNDS`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-`	`31.12.23` `Total` `funds` `£` `250,902` `3,980` `28,521` `32,501` `(5,154)` `27,347` `278,249` `278,249` `278,249` `278,249`	`31.12.22` `Total` `funds` `£` `257,033` `1,730` `28,636` `30,366` `(4,437)` `25,929` `282,962` `282,962` `282,962` `282,962`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................
Trustee

The notes form part of these financial statements

Page 6

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements
for the Year Ended 31 December 2023

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin  accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
havebeenpreparedunderthehistoricalcostconvention,asmodifiedbytherevaluationof certain
assets.

`Income`

Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.

Plant and machinery- 15% on reducing balance
Fixtures and fittings- 20% on reducing balance

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the
trustees.

Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof the  charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.

continued...

Page 7

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`2. DONATIONS AND LEGACIES`

`DONATIONS AND LEGACIES`
	`31.12.23`	`31.12.22`
	`£`	`£`
`Lettings`	`27,464`	`21,774`
`INVESTMENT INCOME`
	`31.12.23`	`31.12.22`
	`£`	`£`
`Interest received`	`459`	`89`

`3. INVESTMENT INCOME`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023 nor
for the year ended 31 December 2022.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2023norforthe year
ended 31 December 2022.

Sometrusteeswere refundedfor smallitemsin the natureof cleaningmaterialsor repairsthat they
had purchased at their own cost.

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`Unrestricted` `fund` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `21,774` `Investment income` `89` `Other income` `2,667` `Total` `24,530` `EXPENDITURE ON` `Other` `47,217` `NET INCOME/(EXPENDITURE)` `(22,687)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `305,649`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-`	`Total` `funds` `£` `21,774` `89` `2,667` `24,530` `47,217` `(22,687)` `305,649`

continued...

Page 8

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`

`Unrestricted` `fund` `£` `TOTAL FUNDS CARRIED FORWARD` `282,962`	`Restricted` `fund` `£` `-`	`Total` `funds` `£`
		`282,962`

`6. TANGIBLE FIXED ASSETS`

`COST` `At 1 January 2023 and` `31 December 2023` `DEPRECIATION` `At 1 January 2023` `Charge for year` `At 31 December 2023` `NET BOOK VALUE` `At 31 December 2023` `At 31 December 2022`	`Freehold` `property` `£` `225,000` `-` `-` `-` `225,000` `225,000`	`Plant and` `machinery` `£` `14,572` `8,512` `909` `9,421` `5,151` `6,060`	`Fixtures` `and` `fittings` `£` `34,787` `9,014` `5,155` `14,169` `20,618` `25,773`	`Computer` `equipment` `£` `300` `100` `67` `167` `133` `200`	`Totals` `£` `274,659`
					`17,626` `6,131`
					`23,757`
					`250,902`
					`257,033`

The Trusteesarrangeda furthervaluationof the Peel CentreBuildingon 25thJune 2024.The report
valuedthebuildingat£285,000(includingpreviousimprovements).Thisvaluationfallsalmost six
monthsaftertheyearendbutitisfeltappropriatetonoteitwithaviewtoenactingthe revised
valuation in the accounts to 31st December 2024.

Accordingly,the building is still shown in the accountsto 31st December2023 at a value of £225,000
based upon a previous valuation received on 26th May 2021.

continued...

Page 9

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

Trade debtors
Other debtors
Prepayments and accrued income
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
9.
MOVEMENT IN FUNDS
At 1.1.23
£
Unrestricted funds
General fund
282,962
TOTAL FUNDS
282,962
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
27,923
TOTAL FUNDS
27,923 31.12.23
31.12.22
£
£
1,437
-
828
-
1,715
1,730
3,980
1,730
31.12.23
31.12.22
£
£
3,666
-
1,488
4,437
5,154
4,437
Net
movement
At
in funds
31.12.23
£
£
(4,713)
278,249
(4,713)
278,249
Resources
Movement
expended
in funds
£
£
(32,636)
(4,713)
(32,636)
(4,713)

continued...

Page 10

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`9. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

		`Net`
		`movement`	`At`
	`At 1.1.22`	`in funds`	`31.12.22`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`305,649`	`(22,687)`	`282,962`
`TOTAL FUNDS`	`305,649`	`(22,687)`	`282,962`
`Comparative net movement in funds, included in the above are as follows:`
	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`24,530`	`(47,217)`	`(22,687)`
`TOTAL FUNDS`	`24,530`	`(47,217)`	`(22,687)`
`A current year 12 months and prior year 12 months combined position is as`		`follows:`
		`Net`
		`movement`	`At`
	`At 1.1.22`	`in funds`	`31.12.23`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`305,649`	`(27,400)`	`278,249`
`TOTAL FUNDS`	`305,649`	`(27,400)`	`278,249`

continued...

Page 11

The Peel Centre Charitable Trust (CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`9. MOVEMENT IN FUNDS - continued`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `Resources` `Movement` `resources` `expended` `in funds` `£` `£` `£` `52,453` `(79,853)` `(27,400)` `52,453` `(79,853)` `(27,400)`

`10. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2023.

Page 12

The Peel Centre Charitable Trust (CIO)

	`Detailed Statement of Financial Activities`
	`for the Year Ended 31 December 2023`
		`31.12.23`	`31.12.22`
		`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Lettings`		`27,464`	`21,774`
`Investment income`
`Interest received`		`459`	`89`
`Other income`
`Grant income received`		`-`	`2,667`
`Total incoming resources`		`27,923`	`24,530`
`EXPENDITURE`
`Support costs`
`Management`
`Caretaking services`		`5,134`	`4,455`
`Rates and water`		`693`	`991`
`Insurance`		`1,068`	`837`
`Light and heat`		`4,871`	`5,490`
`Sundries`		`120`	`71`
`Repairs & renewals`		`3,198`	`8,877`
`Gardening`		`277`	`466`
`Cleaning & waste disposal`		`8,334`	`8,753`
`Administrative costs`		`1,612`	`9,269`
`IT maintenance`		`207`	`173`
`Plant and machinery`		`909`	`1,070`
`Fixtures and fittings`		`5,155`	`5,749`
`Computer equipment`		`67`	`100`
		`31,645`	`46,301`
`Governance costs`
`Telephone & broadband`		`468`	`418`
`Accountancy & professional fees`		`523`	`498`
		`991`	`916`
`Total resources expended`		`32,636`	`47,217`
`Net expenditure`		`(4,713)`	`(22,687)`

This page does not form part of the statutory financial statements

Page 13