REGISTERED CHARITY NUMBER: 1182841
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
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 2024
|
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 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2024.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 2024 was £334,180 (2023 - £278,249).
Page 1
The Peel Centre Charitable Trust (CIO)
Report of the Trustees for the Year Ended 31 December 2024
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
1182841
Principal address
High Street
Dronfield
Derbyshire
S18 1PY
Trustees
Mrs D Smillie
B Simpson
Miss C Vaughan (resigned 17.3.25)
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 2024
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 2024.
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 2024
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
30,264
Investment income
3
581
Total
30,845
EXPENDITURE ON
Other
34,914
NET INCOME/(EXPENDITURE)
(4,069)
Other recognised gains/(losses)
Gains on revaluation of fixed assets
60,000
Net movement in funds
55,931
RECONCILIATION OF FUNDS
Total funds brought forward
278,249
TOTAL FUNDS CARRIED FORWARD
334,180 |
Restricted
fund
£
-
-
-
-
-
-
-
-
- |
31.12.24
Total
funds
£
30,264
581
30,845
34,914
(4,069)
60,000
55,931
278,249
334,180 |
31.12.23
Total
funds
£
27,464
459
27,923
32,636
(4,713)
-
(4,713)
282,962
278,249 |
|
|
|
|
The notes form part of these financial statements
Page 5
The Peel Centre Charitable Trust (CIO)
Balance Sheet 31 December 2024
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
6
306,768
CURRENT ASSETS
Debtors
7
3,682
Cash at bank
27,874
31,556
CREDITORS
Amounts falling due within one year
8
(4,144)
NET CURRENT ASSETS
27,412
TOTAL ASSETS LESS CURRENT LIABILITIES
334,180
NET ASSETS
334,180
FUNDS
9
Unrestricted funds
TOTAL FUNDS |
Restricted
fund
£
-
-
-
-
-
-
-
- |
31.12.24
Total
funds
£
306,768
3,682
27,874
31,556
(4,144)
27,412
334,180
334,180
334,180
334,180 |
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 |
|
|
|
|
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 2024
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 2024
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Lettings |
30,264 |
27,464 |
INVESTMENT INCOME |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Interest received |
581 |
459 |
3. INVESTMENT INCOME
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024 nor
for the year ended 31 December 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2024norforthe year
ended 31 December 2023.
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
27,464
Investment income
459
Total
27,923
EXPENDITURE ON
Other
32,636
NET INCOME/(EXPENDITURE)
(4,713)
RECONCILIATION OF FUNDS
Total funds brought forward
282,962 |
Restricted
fund
£
-
-
-
-
-
- |
Total
funds
£
27,464
459
27,923
32,636
(4,713)
282,962 |
|
|
|
continued...
Page 8
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
TOTAL FUNDS CARRIED FORWARD
6.
TANGIBLE FIXED ASSETS
Freehold
Plant and
property
machinery
£
£
COST OR VALUATION
At 1 January 2024
225,000
14,572
Additions
-
-
Revaluations
60,000
-
At 31 December 2024
285,000
14,572
DEPRECIATION
At 1 January 2024
-
9,421
Charge for year
-
773
At 31 December 2024
-
10,194
NET BOOK VALUE
At 31 December 2024
285,000
4,378
At 31 December 2023
225,000
5,151
Cost or valuation at 31 December 2024 is represented by:
Freehold
Plant and
property
machinery
£
£
Valuation in 2024
60,000
-
Cost
225,000
14,572
285,000
14,572 |
Unrestricted
fund
£
278,249
Fixtures
and
fittings
£
34,787
530
-
35,317
14,169
4,230
18,399
16,918
20,618
Fixtures
and
fittings
£
-
35,317
35,317 |
Restricted
fund
£
-
Computer
equipment
£
300
575
-
875
167
236
403
472
133
Computer
equipment
£
-
875
875 |
Total
funds
£
278,249
Totals
£
274,659
1,105
60,000
335,764
23,757
5,239
28,996
306,768
250,902
Totals
£
60,000
275,764
335,764 |
Total
funds
£ |
|
|
|
|
278,249 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 9
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
6. TANGIBLE FIXED ASSETS - continued
Ifthefreeholdpropertyhadnotbeenrevalueditwouldhavebeenincludedatthe following
historical cost:
Cost
Value of land in freehold land and buildings |
31.12.24
£
225,000
225,000 |
31.12.23
£
- |
|
|
- |
The freehold building was valued on an open market basis on 25 June 2024 by Villiers Wright Ltd.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Trade debtors |
1,222 |
1,437 |
Other debtors |
828 |
828 |
Prepayments and accrued income |
1,632 |
1,715 |
|
3,682 |
3,980 |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Trade creditors |
1,957 |
3,666 |
Other creditors |
2,187 |
1,488 |
|
4,144 |
5,154 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9. MOVEMENT IN FUNDS
MOVEMENT IN FUNDS |
|
|
|
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.24
£
278,249
278,249 |
Net
movement
in funds
£
55,931
55,931 |
At
31.12.24
£
334,180 |
|
|
|
334,180 |
continued...
Page 10
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
30,845
30,845 |
Resources
expended
£
(34,914)
(34,914)
At 1.1.23
£
282,962
282,962 |
Gains and
Movement
losses
in funds
£
£
60,000
55,931
60,000
55,931
Net
movement
At
in funds
31.12.23
£
£
(4,713)
278,249
(4,713)
278,249 |
|
|
|
|
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
27,923
(32,636)
(4,713)
27,923
(32,636)
(4,713) |
|
|
continued...
Page 11
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.23
£
282,962
282,962 |
Net
movement
in funds
£
51,218
51,218 |
At
31.12.24
£
334,180 |
|
|
|
334,180 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
58,768
(67,550)
60,000
51,218
58,768
(67,550)
60,000
51,218 |
|
|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 12
The Peel Centre Charitable Trust (CIO)
|
Detailed Statement of Financial Activities |
|
|
|
for the Year Ended 31 December 2024 |
|
|
|
|
31.12.24 |
31.12.23 |
|
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
Donations and legacies |
|
|
|
Lettings |
|
30,264 |
27,464 |
Investment income |
|
|
|
Interest received |
|
581 |
459 |
Total incoming resources |
|
30,845 |
27,923 |
EXPENDITURE |
|
|
|
Support costs |
|
|
|
Management |
|
|
|
Caretaking services |
|
4,243 |
5,134 |
Rates and water |
|
589 |
693 |
Insurance |
|
1,280 |
1,068 |
Light and heat |
|
5,940 |
4,871 |
Advertising |
|
175 |
- |
Sundries |
|
54 |
120 |
Repairs & renewals |
|
4,396 |
3,198 |
Gardening |
|
44 |
277 |
Cleaning & waste disposal |
|
8,935 |
8,334 |
Administrative costs |
|
1,307 |
1,612 |
Professional charges |
|
500 |
- |
Decorating |
|
670 |
- |
IT maintenance |
|
171 |
207 |
Plant and machinery |
|
773 |
909 |
Fixtures and fittings |
|
4,230 |
5,155 |
Computer equipment |
|
236 |
67 |
|
|
33,543 |
31,645 |
Governance costs |
|
|
|
Telephone & broadband |
|
811 |
468 |
Accountancy & professional fees |
|
560 |
523 |
|
|
1,371 |
991 |
Total resources expended |
|
34,914 |
32,636 |
Net expenditure |
|
(4,069) |
(4,713) |
This page does not form part of the statutory financial statements
Page 13