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2022-05-31-accounts

Registered Charity Number 1183436

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION)

REPORT AND ACCOUNTS For the year ending 31 May 2022

1

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

As the Board of Trustees, we present our report and financial statements for the year to 31 May 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number 1183436

Registered Office The Bank, 19-21 Derwent Street, Chopwell, Newcastle upon Tyne NE17 7HU

Independent Examiner Mr Pete O’Hara FCA, 4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

Chopwell Regeneration CIO was established as a Charitable Incorporated Organisation (CIO) on 15 May 2019. As a CIO it is governed by its constitution and Articles of Association.

Structure and Governance/ Board of Trustees

The charity currently has a board of 10 non-executive Trustees.

The Trustees of Chopwell Regeneration CIO during the year and to the date of signing this report were as follows:

Jodie Barwick-Bell Kyle Ashton-McKirdy Mark Bell P.l. Benton D. Bradford Rev’d Tom Brazier W.P. Carter John Coburn Rachel Couch Laura Ferrie Dr Marie Imlach Christina Lattimer Jacqueline Quincey S.E. Stuart B. Woodward

Appointed 9 December 2022

Resigned 9 December 2022 Resigned 12 September 2021 Appointed 21 November 2021 Resigned 1 December 2021

Appointed 21 November 2021 Appointed 9 December 2022 Appointed 21 November 2021 Appointed 9 December 2022

Resigned 21 November 2021 Resigned 23 August 2021

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

Recruitment and Appointment of Board of Trustees

In selecting individuals for appointment, the Trustees aim to ensure that the Board has the skills, knowledge and experience needed for the effective administration of the charity and is as diverse as possible.

Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the organisation, as well as through a range of advertising channels.

Trustee Induction and Training

Trustees are provided with a range of resources to support their understanding of Chopwell Regeneration’s activities and outlining Trustee duties and responsibilities.

Management

Day-to-day operation of the charity is delegated to the senior management team.

Structure

We continue to be a grassroots community charity and our achievements come from hundreds of people in our village working together because we want to bring about change for the better in Chopwell, a place we are proud to live.

All our Trustees live and / or work in Chopwell and strong community engagement is our most fundamental principle which underpins, and is embedded in, everything we do.

We are a membership organisation with over 120 members.

OBJECTIVES AND ACTIVITIES

Charitable Purpose, Aims & Objectives

Chopwell Regeneration is a volunteer community organisation.

We are regenerating Chopwell by creating employment & skills-learning opportunities, improving the environment, planning to improve housing, improving health & well-being, improving education & training, facilitating intergenerational communication, increasing visitors, stimulating growth & improving the look & feel of our village. All activity is driven by consultation.

The principal objects of the charity are:

1) the promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular in Chopwell and surrounding area), by all or any of the following means:

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

OBJECTIVES AND ACTIVITIES (CONTINUED)

Charitable Purpose, Aims & Objectives (Cont.)

(a) the relief of unemployment;

(b) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;

(c) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help: (i) in setting up their own business, or (ii) to existing businesses;

(d) the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing; (e) the maintenance, improvement or provision of public amenities;

(f) the preservation of buildings or sites of historic or architectural importance;

(g) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities;

(h) such other means as may from time to determined subject to the prior written consent of the Charity Commissioners for England and Wales

2) to develop the capacity and skills of the members of the socially and economically socially disadvantaged community of Chopwell and the surrounding area in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

3) To further or benefit the residents of Chopwell 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.

4) The prevention of financial hardship by providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.

5) The relief of financial hardship among people living or working in Chopwell and surrounding areas by providing such persons with goods and services which they could not otherwise afford through lack of means.

6) To promote sustainable development for the benefit of the public by: (a) the preservation, conservation and the protection of the environment and the prudent use of resources; (b) the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities; (c) the promotion of sustainable means of achieving economic growth and regeneration.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

OBJECTIVES AND ACTIVITIES (CONTINUED)

Charitable Purpose, Aims & Objectives (Cont.)

7) To advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large. Sustainable development means “development which meets the needs of the present without compromising the ability of future generations to meet their own needs.”

8) To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society).

Public Benefit

The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which requires all charities to be able to demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission.

The Trustees believe that the charity meets both of the key principles.

- Principle 1 There must be an identifiable benefit, or benefits

The benefits from our work are enshrined in our objectives to regenerate Chopwell in Gateshead:

- Principle 2 Benefit must be to the public, or a section of the public

Each element of our work is able to provide benefit to the public in general.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

OBJECTIVES AND ACTIVITIES (CONTINUED)

Reserves Policy

The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.

The Trustees aim to firstly hold a level of unrestricted Reserves which enables the charity to have sufficient financial resources to meet various liabilities which would crystallise if Chopwell Regeneration’ funding were to be withdrawn and/or it were unable to continue operating.

At present, the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £10,000.

If possible, the Trustees then aspire to retain an additional allowance of £5,000 to £10,000 to enable the charity to respond flexibly to issues or appropriate initiatives which might be identified outside of its annual budgeting process.

The required level of Reserves is therefore in the range of £15,000 to £20,000.

Chopwell Regeneration currently has total Unrestricted Reserves of £27,417 at 31 May 2022. Free Reserves, defined as Unrestricted Funds minus any Designated Funds minus the value of Tangible Fixed Assets are £11,573.

The charity intends through its financial management and budgeting processes to reach its aspirational level of Reserves over the next 2-3 years to hold sufficient to cover its liabilities and to enable it to continue to respond flexibly.

The Trustees regularly review specific liabilities at each Board meeting. The Reserves Policy is revisited by the Board annually in the light of progress against budget and is updated at the time of drafting the annual accounts.

Investment Policy

The charity has the power under the Memorandum and Articles of Association to make any investment which the Trustees see fit.

Risk Management

The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.

Chopwell Regeneration has a risk management strategy in place that comprises:

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022

TRUSTEES’ REPORT

OBJECTIVES AND ACTIVITIES (CONTINUED)

Risk Management (Cont.)

The Trustees are satisfied that appropriate financial systems and controls are in place, together with appropriate employment policies and practices and building-related processes and procedures.

The Trustees consider the key risk facing the charity at this time and the mitigating actions taken to be as follows:

The Trustees also manage the general financial risks by ensuring that:

ACHIEVEMENTS AND PERFORMANCE

Summary of the Charity’s Main Achievements During the Year

Our financial year to 31 May 2022 has been transformational for Chopwell Regeneration CIO.

The Bank

We completed the building work and opened ‘The Bank’, a welfare and enterprise centre, bringing a historic building on Chopwell’s main street back into use for our community.

Over the summer 2021 a large group of volunteers were involved in decorating, procuring fixtures and fittings, recruiting staff, planning events and fundraising activities.

We opened the upstairs of the building as offices to rent on 1 October 2021. By 1 November 2021 all the rooms were let. Occupants this year have included small and start-up local businesses that rent the upstairs rooms from the local area, and include a social enterprise promoting young people’s engagement in sport and the outdoors, a social enterprise helping people with hidden disabilities towards employment and 3 small businesses/sole traders. Having a dedicated and affordable work area locally is highly valued in our rural community.

We opened the ground floor on 3 March 2022 as a pay what you feel café and community market. We have had a very positive response, averaging 450 people a week coming into the building including those most acutely experiencing social isolation and food poverty.

In the first 3 months of being fully open The Bank generated a reputation for the warmth of its welcome. People talk about increased confidence, developing a ‘can-do’ attitude following the loneliness of lockdown, and feeling more positive about where they live and the opportunities around them.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of the Charity’s Main Achievements During the Year (Cont.)

Cafe and community market

At The Bank we are alleviating immediate needs caused by food poverty which is increasingly severe in Chopwell. We source the majority of our supplies for the pay what you feel café and community market from surplus food sources including FareShare and local supermarkets. The opening of this facility has co-incided with the growing cost of living crisis and every week even more people are coming into The Bank saying they don’t have any money for food or haven’t eaten for a day or two. The cafe and community market attract people from a variety of backgrounds across the community because of the warmth of the welcome at the cafe, the excellent food served by our chef and volunteer team and our sustainable approach to sourcing food.

Activities and events

This year we have also run a wide range of activities which provide for a cross-section of ages and needs:

Other projects

Although opening The Bank has been our primary focus, it is not the only project we have worked on this year:

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of the Charity’s Main Achievements During the Year (Cont.)

Staff

This year we have successfully transitioned from being solely run by volunteers to being an employer with 5 staff and, crucially, 4 staff members live in the local community.

Volunteers

We are also overwhelmed with the volunteering support we have had from within our community with over 200 volunteers taking part in various activities throughout the year.

Volunteers include 2 work experience placement volunteers (via DWP) who had been unemployed for many years. After the 8-week placement they both continued volunteering with us. One has since found employment at a local café, while the other continues to volunteer and to grow in confidence and skills, taking more and more responsibility for the running of the kitchen alongside our chef.

We have a further 16 regular volunteers (5 of whom are young people aged 16-18) who help in the cafe at busy times and tell us that volunteering is of huge value to them for reasons including loneliness, learning new skills, work experience, building confidence and “being part of something”.

Support received

We are hugely grateful to the grant funders and organisations who have supported us this year including:

We are also very grateful to the hundreds of local people in our community who have donated and got involved in our fundraising activities.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of the Charity’s Main Achievements During the Year (Cont.)

Financial Review

Our income is predominantly generated from grants, donations and fundraising. We also receive membership fees. This year we began to receive rental income at The Bank from 1 October 2021 and trading income at The Bank from 3 March 2022. The Trustees are pleased with the level of income generated. We anticipate this income should grow year on year.

All expenditure incurred meets our objectives. We have incurred interest costs on loan funding as it was necessary to borrow £100,000 towards the building work at The Bank. This was because the capital grants from the North East LEP and the National Lottery Reaching Communities Fund were paid to us in arrears after the work had been completed and the building expenditure incurred.

The outturn for the year is an unrestricted surplus of £7,319, leaving Unrestricted Funds at 31 May 2022 of £27,417.

FUTURE PLANS

Now that The Bank is established, as well as continuing to deliver existing services, the Trustees and staff also plan to focus on:

Many of these activities are dependent on fundraising which will continue to be a very important responsibility of the Board of CRG.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) YEAR ENDED 31 MAY 2022 TRUSTEES’ REPORT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for managing the business of the charity and may exercise all the powers of the charity unless restricted by the Charities Act or the constitution of the charity.

The Trustees are responsible for the preparation of the financial statements for each financial year which show a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year.

In preparation of the financial statements the Trustees should follow best practice and:

  1. Select suitable accounting policies and apply them.

  2. Make judgements and exercises that are reasonable and prudent.

  3. Prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue on that basis.

The Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity.

The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

DECLARATIONS

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005 by the Charities Commission England and Wales).

This report was approved by the Board of Trustees on 9 February 2023 and signed on its behalf by:

Jodie Barwick-Bell Trustee/Treasurer Chopwell Regeneration CIO

11

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF CHOPWELL REGENERATION CIO FOR THE YEAR ENDED 31 MAY 2022

I hereby report to the Trustees/Members of Chopwell Regeneration CIO (Charity Registration Number 1186728) on the accounts for the year ended 31 May 2022 set out on pages 13 to 25.

Responsibilities and basis of report

As the charity’s Trustees (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’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.

Independent Examiner’s Statement

Since the charity’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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

  4. the accounts have not been prepared in accordance with the methods or principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Pete O’Hara, FCA, Chartered Accountant

Fellow of the Institute of Chartered Accountants in England & Wales

4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG

9 February 2023

12

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL ACTIVITIES YEAR TO 31 MAY 2022

Note
Income
Income from Charitable Activities
3
Income from Grants, Donations &
Legacies
4
Total Income
Expenditure
Expenditure on Raising Funds
5
Expenditure on Charitable Activities
6
Total Expenditure
Net Income/(Expenditure)
7
Balance brought forward
Balance carried forward
13		 Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
15,401
-
15,401
-
14,858
309,944
324,802
93,286
30,259
309,944
340,203
93,286
-
-
-
1,900
22,940
72,887
95,827
71,289
22,940
72,887
95,827
73,189
7,319
237,057
244,376
20,097
20,098
32,110
52,208
32,111
£27,417
£269,167
£296,584
£52,208

The notes on pages 15 to 25 form part of the financial statements.

There are no recognised gains and losses during the year other than as shown above

All the activities for the year are continuing activities.

13

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET At 31 MAY 2022

Notes
Fixed Assets
Tangible Fixed Assets
9
Current Assets
Stocks
Debtors
10
Cash at Bank and In Hand
Creditors:
Amounts Falling Due Within 1 Year
11
Net Current Assets
Total Net Assets
Represented By:
Unrestricted Funds
12, 13
Restricted Funds
12, 13		 2022
£
2021
£
193,804
-
660
-
4,429
11,614
100,389
41,404
105,478
53,018
(2,698)
(810)
102,780
52,208
£296,584
£52,208
27,417
20,098
269,167
32,110
£296,584
£52,208

The notes on pages 15 to 25 form part of the financial statements.

The financial statements were approved by the Board, and authorised for issue, on 9 February 2023 and signed on its behalf by:

Jodie Barwick-Bell Trustee/Treasurer

14

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

1. Accounting Policies

Charity Information

Chopwell Regeneration CIO is a Charitable Incorporated Organisation. The registered office is The Bank, 19-21 Derwent Street, Chopwell, Newcastle upon Tyne NE17 7HU.

The charity is a public benefit entity.

Basis of Accounting

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 of Ireland' ('FRS 102'), and with the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.

The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.

Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.

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

Income

All income, including grant income, is included in the Statement of Financial Activities (SOFA), net of VAT, when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Such income is only deferred when the donor or funder has specified that the grant or donation can only be used in future accounting years or where the donor or funder has imposed conditions which must be met before the charity has unconditional entitlement.

Turnover 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.

Income from Investments

Interest receivable on fixed interest securities and bank deposits is included on an accruals basis.

Expenditure

All expenditure is accounted for on an accruals basis and is recognised when a liability is incurred.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

1. Accounting Policies (Cont.)

Expenditure (Cont.)

Irrecoverable VAT

All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Operating Leases

The charity classifies the lease of certain printing equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the year of the lease.

Tangible Fixed Assets and Depreciation

Depreciation is provided on the fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:

Leasehold Improvements - over the length of the lease
Office & ICT Equipment - over 3 years
Fixtures & Fittings - over 5 years

A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.

Impairment of Fixed Assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Fund Accounting

The charity has a number of restricted income funds to account for situations in which a funder requires that a grant must be spent on a particular purpose or where funds have been raised for a specific purpose. The aim and use of each restricted fund is set out in Note 13 to the financial statements.

All other funds are considered Unrestricted Funds and are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

1. Accounting Policies (Cont.)

Taxation

Chopwell Regeneration CIO is a registered charity and, as such, is not liable to taxation on its income in the current year.

Pensions

Chopwell Regeneration contributes to a defined contribution pension scheme. Further details can be found in Note 8.

For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Financial Instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ of FRS102 to all its financial instruments.

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. Going Concern

The Trustees believe that it is appropriate for the financial statements to be drawn up on a going concern basis.

3. Income from Charitable Activities

Rental Income
Training Income
Cafe Income
Community Market Income
Other Revenue		 Unrestricted
Funds
Restricted
Funds
2022
2021
£
£
£
£
8,798
-
8,798
-
206
-
206
-
5,555
-
5,555
-
287
-
287
-
555
-
555
-
£15,401
£-
£15,401
£-

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

4. Income from Grants, Donations & Legacies

Grant Income
Archer Trust
Ballinger Charitable Trust
Barbour Foundation
Bernard Sunley Foundation
Blue Stone Consortium
Chopwell & Blackhall Mill Partnership
Chopwell Community Association
Community Foundation
Community Foundation - Carolyn &
Tony Brookes Fund
Community Foundation - Muckle LLP
Fund
Community Foundation - Tony Platten
Fund
Co-op Local Community Fund
EDF Windfarms
Garfield Weston Foundation
Gateshead Council CIL
GMBC VCSE
Groundwork UK - Tesco Bags of Help
Hilden Charitable Fund
Hospital of God
Joicey Trust
LGA Foundation
National Lottery Awards for All
National Lottery Community Fund
North East LEP
Rothley Trust
Sir James Knott Foundation
The Fore/Bulldog Trust
Trusthouse Charitable Foundation
Tudor Trust
Virgin Media O2 Together Fund
Virgin Money Foundation
Donations
Crowdfunding/Donations
Gift Aid		 Unrestricted
Funds
Restricted
Funds
2022
2021
£
£
£
£
2,000
-
2,000
-
-
11,398
11,398
-
-
10,000
10,000
-
-
25,000
25,000
-
-
3,174
3,174
400
-
7,604
7,604
-
-
-
-
8,800
-
-
-
10,000
-
3,000
3,000
-
3,000
-
3,000
-
-
19,750
19,750
-
-
1,607
1,607
2,010
-
-
-
4,992
-
-
-
25,000
-
-
-
5,000
-
5,900
5,900
-

-
1,125
1,125
-
-
5,000
5,000
-
3,000
-
3,000
-
-
-
-
5,000
-
-
-
5,000
-
9,850
9,850
-
-
30,000
30,000
-
-
100,000
100,000
-
-
1,500
1,500
1,000
-
-
-
15,000
-
15,000
15,000
-
-
8,967
8,967
-
-
16,900
16,900
-
-
1,000
1,000
-
-
30,000
30,000
-
8,000
306,775
314,775
82,202
5,089
3,169
8,258
10,135
1,769
-
1,769
949
6,858
3,169
10,027
11,084
£14,858
£309,944
£324,802
£93,286

Of the 2021 total of £93,286, £36,285 related to Unrestricted Funds and £57,001 to Restricted Funds.

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CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

5. Expenditure on Raising Funds

5.
Expenditure on Raising Funds		 5.
Expenditure on Raising Funds
Fundraising Consultancy
The 2021 total of £1,900 related wholly to Restricted Funds.
6.
Expenditure on Charitable Activities
Unrestricted
Funds
Restricted
Funds
£
£
Direct Costs
Advertising & Marketing
218
1,757
Building Development Costs
-
-
Café & Ingredient Costs
271
1,637
Event Costs
611
2,692
Non-Capital Equipment
1,062
1,395
Professional Fees – Capital
Development
2,340
2,521
Salaries & On Costs
1,248
31,840
Support Costs
Depreciation
2,808
11,759
Insurance
305
-
Repairs & Maintenance
196
6,587
Telephone, ICT & Website Costs
2,716
521
Utilities
4,458
2,250
Other Overhead Costs
-
1,482
Governance Costs
Accountancy & Independent
Examination
290
842
Consultancy Fees
1,000
7,604
Legal Fees
-
-
Loan Arrangement Fee
-
-
Loan Interest
5,417
-
£22,940
£72,887		 2022
2021
£
£
-
1,900
£-
£1,900
2022
2021
£
£
1,975
532
-
41,758
1,908
-
3,303
-
2,457
6,295
4,861
5,575
33,088
-
14,567
305
302
6,783
633
3,237
110
6,708
79
1,482
1,701
1,132
810
8,604
8,800
-
3,860
-
834
5,417
-
£22,940
£72,887		 £95,827
£71,289

Of the 2021 total of £71,289, £21,602 related to Unrestricted Funds and £49,687 to Restricted Funds.

19

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

7. Net Income/(Expenditure)

8.

Net income/(expenditure) is stated after charging/(crediting):
Independent Examiner - Examination Fees
Depreciation of Owned Fixed Assets
Staff Costs
Gross Salary Costs
Employer’s National Insurance
Employer’s Pension Contributions
The average monthly number of staff employed during the year was
as follows:
Operations and Management		 2022
£
2021
£
1,100
600
14,567
-
2022
2021
£
£
32,612
-
-
-
476
-
£33,088
£-
2022
No.
2021
No.
5
-

No employees received remuneration in excess of £60,000 in the year (2021: None).

The total paid to key management personnel, defined as the members of the Management Team, was £29,784 (2021: £Nil).

No remuneration was paid to or waived by Trustees/Directors in the year (2021: £Nil).

No expenses were reimbursed to Trustees (2021: £295) in respect of their attendance at meetings of the charity.

9. Pension Scheme

Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 May 2022 Chopwell Regeneration made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.

These amounts are paid over to the scheme on a monthly basis.

No contributions were outstanding at 31 May 2022 (2021: £Nil).

20

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

10. Tangible Fixed Assets

Cost
At 1 June 2021
Additions in year
At 31 May 2022
Accumulated Depreciation
At 1 June 2021
Charge for year
At 31 May 2022
Net Book Value
At 31 May 2022
At 1 June 2021
Cost
At 1 June 2021
Additions in year
At 31 May 2022
Accumulated Depreciation
At 1 June 2021
Charge for year
At 31 May 2022
Net Book Value
At 31 May 2022
At 1 June 2021		 Leasehold
Improvements
£
-
168,784		 Fixtures &
Fittings
£
IT &
Office
Equipment
£
-
-
4,202
11,929
4,202
11,929
-
-
907
3,976
907
3,976
£3,295
£7,953
£-
£-
Kitchen
Equipment
£
Total
Fixed
Assets
£
-
-
23,456
208,371
168,784
-
4,823
4,823
£163,961
£-
23,456
208,371
-
-
4,861
14,567
4,861
14,567
£18,595
£193,804
£-
£-

21

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

11. Stock

11.
Stock		 11.
Stock
Café Stocks for Resale
12.
Debtors
Trade Debtors
Other Taxes & Social Security Costs - VAT
Prepayments
Accrued Income
13.
Creditors - Amounts Falling Due Within One Year
Trade Creditors
Other Taxes & Social Security Costs – PAYE/NI
Income Received In Advance
Accruals
14.
Analysis of Net Assets between Funds
Unrestricted
Funds
Restricted
Funds
£
£
Fixed Assets
15,844
177,960
Stocks
660
-
Debtors
4,429
-
Cash at Bank and In Hand
9,182
91,207
Creditors – Due Within 1 Year
(2,698)
-
£27,417
£269,167		 2022
2021
£
£
660
-
£660
£-
2022
2021
£
£
248
-
2,599
11,614
1,045
-
537
-
£4,429
£11,614
2022
2021
£
£
280
-
1,147
-
171
-
1,100
810
£2,698
£810
2022
2021
£
£
193,804
-
660
-
4,429
11,614
100,389
41,404
(2,698)
(810)
£27,417
£269,167		 £296,584
£52,208

22

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

15. Analysis of Charitable Funds

Unrestricted General Fund
Restricted Funds
Ballinger Charitable Trust
Barbour Foundation
Bernard Sunley - Building Development
Bernard Sunley - Training Kitchen and
Food Preparation
Blue Stone Consortium - Arts Exchange
At The Bank
Blue Stone Consortium – Film
Chopwell & Blackhall Mill Partnership
Community Foundation
Community Foundation - Carolyn &
Tony Brookes Fund
Community Foundation - Tony Platten
Fund
Co-op Local Community Fund
Crowdfunding/Donations
Garfield Weston Foundation
Gateshead Council CIL
GMBC VCSE - IT & Digital Support
Groundwork UK - Tesco Bags of Help
Hilden Charitable Fund
National Heritage Lottery Fund
National Lottery Awards for All
National Lottery Community Fund
North East LEP
Rothley Trust
The Fore/Bulldog Trust
Trusthouse Charitable Foundation
Tudor Trust
Virgin Media O2 Together Fund
Virgin Money Foundation
Total Restricted Funds
Total Funds		 Fund at 1
June 2021
£
Income for
Year
£
Expenditure
for Year
£
Fund at
31 May
2022
£
20,098
30,259
(22,940)
27,417
14
11,398
(2,362)
9,050
-
10,000
(3,325)
6,675
-
10,000
(238)
9,762
-
15,000
(2,903)
12,097
-
2,574
(2,574)
-
400
600
(1,000)
-
-
7,604
(7,604)
-
2,618
-
(1,721)
897
-
3,000
(500)
2,500
-
19,750
(363)
19,387
1,394
1,607
(1,769)
1,232
-
3,169
(3,169)
-
25,000
-
(595)
24,405
268
-
(268)
-
-
5,900
(488)
5,412
1,416
1,125
(1,100)
1,441
-
5,000
(1,422)
3,578
1,000
-
(1,000)
-
-
9,850
(2,488)
7,362
-
30,000
(857)
29,143
-
100,000
(5,306)
94,694
-
1,500
(320)
1,180
-
15,000
(7,437)
7,563
-
8,967
(1,827)
7,140
-
16,900
(12,491)
4,409
-
1,000
(1,000)
-
-
30,000
(8,760)
21,240
32,110
309,944
(72,887)
269,167
£52,208
£340,203
£(95,827)
£296,584

A number of grants related to the development and fitting out/equipping of The Bank were received and fully spent in cash terms in the year to 31 May 2022, but the required accounting treatment releases the grant over the period of the useful life of the associated assets, matching the annual depreciation on the equipment/building costs.

23

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

15. Analysis of Charitable Funds (Cont.)

Name of Restricted Fund Description, Nature & Purpose of the Restricted Fund

Ballinger Charitable Trust Towards the costs of community engagement, IT hardware & software

Barbour Foundation Towards the costs of fitting out and equipping the building Bernard Sunley - Building Towards development of ‘The Bank’ building Bernard Sunley - Kitchen Towards the costs of a training kitchen and food preparation Bluestone Consortium – Arts Towards the costs of Arts Exchange At The Bank Exchange Bluestone Consortium - Film Towards the costs of filming ‘The Bank’ building development Chopwell & Blackhall Mill Towards the costs of consultancy support Partnership Community Foundation Towards development of ‘The Bank’ building Community Foundation - Carolyn & Towards the costs of equipment Tony Brookes Fund Community Foundation - Tony Towards the costs of a STEM skills development Platten Fund programme with young people Co-operative Community Fund Towards the costs of furniture, allotments and community fridge costs Crowdfunding/Donations Towards the costs of decorating ‘The Bank’ Garfield Weston Foundation Towards development of ‘The Bank’ building Gateshead Council CIL Towards development of ‘The Bank’ building Gateshead Council VCSE Towards the costs of IT & Digital Support Groundwork UK - Tesco Bags of Towards community fridge costs Help Hilden Charitable Fund Towards the costs of a training kitchen and food preparation

24

CHOPWELL REGENERATION CIO (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS At 31 MAY 2022

15. Analysis of Charitable Funds (Cont.)

Name of Restricted Fund Description, Nature & Purpose of the Restricted Fund
National Heritage Lottery Fund Towards the ‘GEO Stories’ project
National Lottery Awards for All Towards running costs and provision of a shed and
shelving
National Lottery Community Fund Towards development of ‘The Bank’ building
North East LEP Towards development of ‘The Bank’ building
Rothley Trust Towards the costs of equipping a meeting room
The Fore/Bulldog Trust Towards the salary and on costs of a Chef
Trusthouse Charitable Foundation Towards salaries and on costs
Tudor Trust Towards the salary and on costs of a Front Of
House Manager
Virgin Media O2 Together Fund Towards a thank you event for funders and
volunteers and core running costs
Virgin Money Foundation Towards the salary and on costs of a Learning
Programmes Manager

16. Related Party Transactions

Details of Trustees’ remuneration and expenses are disclosed in Note 8.

In addition, two tenants of The Bank are connected to Trustees as follows:

All rents for these tenants were agreed at arm’s length and are at the standard market rate.

There were no other transactions in the year with related parties, such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (Effective April 2008). (2021: None)

17. Financial Commitments

No material financial commitments have been made in respect of future financial years.

.

25