Charity number: 1193927 Redhills CIO Annual report 31 March 2024
Redhills CIO Contents Pag8 Reference and administrative detsils Trustees, r8POrt Trustees, responsibilities stalemenl Independent audith. rewt to tho ol Rh1118 CIO 9-12 Ststsment of flnancial actiwtses 13 Bdancé sheet 14 Statement of tash flows 15 es to the financial $tatgments 16-27
Redhills CIO Reference and administrativ• dotails Year ended 31 March 2024 Trusleos David Anderson (appointed 4 June 2024) Beth Jones lapp(Mnted 6 Seplember 20231 Kate Abson {appoin¢ed 6 September 20ZJ} CLR Elizabeth Scott lappcmnted 6 Seplemter 2023) Mary Slrattord lappolnled 6 Septen*er 2023) Victoria Hughes (appointed 6 Seplember 2023) Rachael Lennon Rayrnotxl Mills Prof John Tomaney Christopher McDonald Charlty r•glst•r•d number 1193927 Rtgl8t•red offi¢• Ourham Miners Hall Flass Street DLtrham England OH14BE Indep•ndl auditor UNW LLP Charter8d Accountants Citygale St J8mes' Boulevard Newcastle Up( Te NE14JE Bank•rs Hand8lsbank8n 101 Barbifolli Square Manchester England M2 38G Page 1
Redhllls CIO Trustees. report Year ended 31 March 2024 The trustees present annuat reF#J1 vAth Ihe axllled financwl statements of the charity for th¢ year 1 April 2023 to 31 March 2024. The annu repcl seNes th8 puse5 of a trusté8s' rewrt and a diractors, report under company law. The tNstees confirm that the annual repcfft aNJ financ4al ststements of the charitabl8 )mpany compty wilh the currenl Statutory requirements. the rewirements of the charitable companys goveming document and the provisl¢Ms of the Stslement of ReCnMended Practice {SORPI appIlble lo charities preparing thr accounts wi aceordanc£ the Financial RepoitiNJ Stalar applicable in th8 UK and R8putAic ol IrelarKI IFRS102) {effective 1 January 2019). This rgport covers the period Ir(ffn 20ZJ to March 2024 arml the Nghlithts of actiwty Redhils CIO, charity number 1193927. Objectlws and acllvhl•s Chavltablo Objèets The oblects ofthe CIO are: (a) To promote for the benefft of the inhat¥t8nts of Lrharn withrjrt distinct of sex, sgxual orientation. race or of political, reh'gious or other opin•?ns. ty associatvu together the said nhabitants and the local aulhorilies, voluntary and other ¢)rganisations in a COOn effort to advano education and to provKle facilities in the Inte$ts of soo81 welfare for rreall and other bwsure occupations Vith the objècts of inprovlng the COndon8 of Ilfe of the sawj inhatrAants: {b) To preseNe and malntsin the Miners Hall, 1rh8rn and to m8nag8 the for the purpose of a MMunity cantr8. Summary of actl¥ftl•s 1. PreseNation management ofthe Hall. tJrham and rts assoclaled hgrilagg. 2. Promoti and provisK>n of edLtstion. recreation ar leisure activi in relatKJn to heritsge and culture of the Ourham eoaifi81d. 3. Improving understaThYng of txffh Grk1 heritage and its regiond. ItIOnal aThJ intematp)nal signfficance. Thè chaiity is currenlly Sn the crxthclion phase of a prw to preserve Ihe Miners. Hall that VMII grve It the base to cary out thties in furtherance of its obpcts ovtrlh& wnirwJ 15 hl•v•mwls and p•rtornianc• Pr•swiatlon and m•nag•m•nt of th• Mln•rs' Hall and Its asso¢lat¢d horlt•gg. Thi$ final was the first the c8rity opwated a ful 124Thth {1. 11 was a year in whlch preparations for Ihe signrfKanl renovation work for the Miners Hal began and grant appfications were made to bring the proj8Ct to fruition. Fundraising was a central feature of the board's xtivits"es. and we are indebted to OUT slaff for their diligence in pursuing this fuNling. The charity finan were stable during this period déspite weathering infiationary we55ures. Detsils of the fvndiTrJ seojred to alknw thg projed to progr8ss lo the c0ns1nKti phase are detailed %ilhin the finartial statements. We are grateful lo all who have helped lo make this project happen. Miners, Hall c¢)nstrucllon Ccfflstruction began In Junè 2023 a rephaslng of part of the rw oxtension to meet bud constralnts. Thg work is now s¢hedule to ttrfnplete tn February 2025. FLthT fLmd¥)g was galngd through Arts Cwncil Nati thJThJing whlch began in Aprll 2023. Th18 funding of £150k per Jear wil last for and VAII suptmyt stsffirvJ aThl oth8r costs in the earty rS of trading. P¥2
Redhills CIO Trustees. report {¢ontlnued) Year ended 31 March 2024 Board •xpanslon The board of trustees was expanded in Octob8r 2023 to gNe grealer repr8s0ntstion to commurrity Interests and address the gender balan. The board has been concemet1 to maintaln sound fiscal control and to develop its business plan wlile the construction programme has progressed. Conmnunlty pre$en¢o Redhils CIO has also m8mtained 8 FJsitive Wb1 presence work has kept the lkners Hall closed. The charity played a major TO in the Durham Miners, Gala with aclivitie$ arKi wblic engagement in Juty 2023. A research and photographic project mapped the Last ol the mineTS to go below ground in Washington new lown. It examined the relationship beNvw sense of b9Wing arHI place while (apturing Imwrtant oral histories ol forner PHtmen. The'coal Face. exh1btht allracted rec¢xd C¥Chvds its shothryrKJ at WashSngton F Pit in Sept 2023. Redhills al took fornard its Fryramme of ¢vekfrfng aThJ $4wting community nerkS to assist voluntger and third s8Ctor organisars. A galharing in October 2023 attrathj over 70 communily cryanisers set the programme for Redhills role in swporting this activity. Lastly, th6 Durham Miners Association Bwass Band Christsnas Concert was revived in Decerrtser 2023. The lasl quarter of the year was dominated by the c0ns1rucli PrograMn which saw the Miners Hall rebuitt from basemenl lo rooftg) and insW1ati of a source heal pump. 11 r3 beleved the hall wll be one of the first heritage bijldings to be so1Y lated by a scojrce. Flnanclal T•v Totsl furKls ol the Twst at 31 March 2024 amnted to £7,095.437. ofwhKh £309.502 is re$trithd. The reverHJe balances carried forward al 31 Marth 2024 are a £36.040 surplus12023: £273.462} on restrlcled lunds and £5,293.800 surplus (2023: £1.492.1351 on unrèsfrid8d funds folk)wwig a transfer of funds from restricted to unreslrictetl totslh'ry £3.575,W 12023.. £nll. The net movements in total funds is therefore £5.329.84012023.. £1.765,5971. Princlpal funding soure•$ The principal fundiw sources during the period were grants armi donations towards the capital devebpmenl ol the Miners. Hall. including a subslanlial grant from the Naal Lollery Heritage Fund, and a large donation from the Dutham Miners Association. Fundralslng The majority of funds raised to dale has b88n secw8d throu grant appltIOn or dir8d donations from indN•Juals wlh interest in the project. No svJivfKant fundraising has been largeled at the general public, arKI Redhi115 CIO is not registered wrilh the lundraising regulator. The future fundraising plan focusses on building reserves to urKlerpin the first Iwo years of commercial operation. As Ihe p1k1 phase os nrn¥ fulty financed, Redhills CIO will be asking exisling doTh)rs Olher fuTrJing bodies lo support the business deveWmenl programme by assisting Ihe earty operati1 pericmj. TINS is also supported by c¢J)tinued NLHF fundirvJ until 2026. This supports staffing an(J njnning costs. The Arts Council Eng18ThJ NPO 8greement offers unrestricted funds of £150,000 per year. This will primarily SLEPWrt stsff costs during Ihrs per)d. The fundraising plan Indudes appeals to trades unions. tnESts and foundations. hxal and natM)nal gov8rrbment b(Mlies and universities. Page 3
Redhills CIO Trustees. report (contlnuedl Year ended 31 March 2024 Golng concern Aftèr maklng approkyiate enqes, Ihe trustees have a rea$cbI8 eXptiOn that the charty has adequate resources to continu8 in operational 8XiSten¢2 for the fese&8b1e fvture. For thls reason. they continue to adopt the going nCern basK8 in preparing the financ1 statements. Further details regardiTrJ Ih& adoption of Iha going n(xm basis can b8 tound in Ihe acDMtry Ros•FVOS poIIcy As the charity is still in its develoFffiWIt phase. no fomial reserves pO¢Y has YEI been seL Free unrestrithd reseryes {nol tied up n tangib fixed assets) at 31 March 2024 were £1,710,872, which will allow th8 eApital phase of dev810pmt to b8 completed. The trustees mon5tor cash Ilow dosety through the capital phase and are satlsfled wlth the position at the year er#l. Prlnclplo rf$k$ and unurtaln¢h$ The Kffwiciple risk at present r4 the successfrjl of the Capital ryoiect. wryihin bvdgel. The trustees have employed trusted experienced professicwls lo manay th8 risks of the project, and are ck)sely invow Mlh both staff and en9aged profesthnals lo ensure Ihe aims of Ihe projed are delvered. A more detailed risk register Mll be develcyed for the next phase of the prOjL on c(Niwlglion of the capital works. Strudur• and gov•man Constllutlon The charity was e5tablishd as a CharitaLle Incrymxated (wIsaD on 26 March 2021 {registergd numbgr 1193927. Pollcles In additson lo the ¢tI1Li 8d(Wd by charity on fcknng goveming d¢)cuments. P1¢8 and wcrting groups have been estalShed.. Finowal regulaticffis Ethical Finance suttommittee Register of interests and management of interests stalemw Equality. div8rsity and Inclusic statement Safeguarding policy statement Maint79 chwity independe¢ staiement Appolntm•nt of Trustees Trustees shal be aFWinted for a terni of three 1$ by a passed at a property c(Vened meeting of the Trnstees. Any person retirir¥J as a Trusiee is elgtle for reappointment. alth¢Jugh a Trustee who has completed two consecutive tems of service may nol be reappointed for a Ihird term until a period of 81 81 onè year has elapsed. In addition to Trustees appointed in acts)rdance vnih the above dauses, 8ddiliLxwl TnJsle8s may be ctropled for shorter or fixed pariods because of the paiticular CapatS aThY competences U)ey may bling specific projects or programmes of work. In selethg indiv*Juals for appoln1mI as Trustees, the Twsiees must havo regard to tho skn'lls. knowl8dg8 and experience needed for the effective admiristration of the CIO. Page 4
Redhills CIO Trustees. report (continued) Year ended 31 March 2024 Upon appointment, all Trustee5 shal b8 gven: la} a copy of the current vorsion of Ihis C0r6btut.' and b} a copy of the CIO'S latest Trustees, Annual Rert and stslemenl of accounts Icl a¥1 and cLYnprehensive briefmg on the objectives. strategy. operalKJns and finances of the CIO. Id> up to date Charity Commissb)n gJKJance on tnjsioe duties and oblgations Includi wblic beneftt. R•tlr•m•nt and r•moval of Trust••s The office ofa Trustee shall be vacated rf he (Y she: lal resign5 office by giving three months. not in writw¥J lo the CIO Ibut il at least Ihre8 Tmstees wtll remain in Offi). or Ibl is absent wilhout the pwmissK)n of the TAtee5 from 1r meeltsy tr1d a r50 of six months 8Th the TnJ$tees resolve that his or her office be vacated" or Icl is rernov8d from office for conduct preiudiual to the CIO by a majority vole of the Twstees, provided that any Truslee whose renw)val is proposed shall have the TWI to make representation to the meellng where the decision is to be tsken,. CIO ConstitutKJn Idl becomes bankrupt or makes any arrarffJeThRnl with hi5 or her r%edit5 gererally. or lel is otherv•ise disqualified by law from serving as a thwity trusleo. Taklng ol d•clsli•ns by Trusl•¢$ Any detssion may be tsken eilher.. {al at a mo¢ling of the Trustg9S'. ty {bl by r8solution in writing or &11¢ l(Km agreed by ol the Trustees. D¢98t00 by Tntsts•s The Trustees may d8legal8 any of their rM)w8rs or fu10n5 to a committee or committees, wovided that the terms of any delegalion must be iecorded in the minule Ik. Tha Trustees may subsequently revoke or alter delegation. The Tru51ees may irnpose coThJitions when del8gabry. will aways th8 conditions that.. {a} a committee may consist of or m4xe petsMs, but at kasl one member of each committèé must bè Trustee., Ibl the relevant power5 are to be exerrAsed exclusivety by the commbttee to whom they delegate., 1¢) no expendiiure may be inrred on bghaff of tho CIO except in accordance with a bUdl previousty agreed Ih th8 Trustees., Idl the commlitee shall report wularly to the Trustees. Qrganlgatlonal Strndur• The Board of Tnjstees now numbers ten people representing a wide range of stakeholders and community interests. A succession plan has been pul in place as the foundiThJ trustees reach the eNI of I1r Ihree-year terni in March 2025. intefim chief executiva has b8en appointed wh1& Ihe board rncrtjits a succassor to the potholder moved on to another job in September 2024. The Ixjard continues lo meet on a monthly basis to monilor prow on the capital pwr8mme and exercise bLKIfv (ntrOl. M•8tlngs of Trust••s A meebng shall be sunwnoned th8 request of a Trustee by giving reasonable notice lo am the Trustees. It sham not be necessary lo gte notiee of a meeting to any Trustee when absent from the United Kingthjm. At present rneelings are held ThK)nlhty wth agreement lo rlse tS to allemating monthly etingS at an approprbale Ibme. Page 5
Redhills CIO Trustees, pOrt Icontlnued) Year ended 31 March 2024 Chalrfng of mmllngs The Truslo8s may appoint one of n)ber ¢0 (ak thek meetiTh• and rnay al any time rgvoke suth appcAntsnent. ff nwne has beén so apKh)inted. or rf the person appointed is unwilling to preside or is not prosent within 10 minlrtes after the time of lh8 me8try. th8 Tnte@s Fffesent may 4pcint one of their number lo chalr that meeting. Pay pollGy for Or staff Slaff are apwinled with trustee agreement at markel rale salaries fcf Ihe posts coneemed. A fomal staff muneration polrcy will be daveloped as the tharity b¢wme$ ThKJre established. R•lat•d P•rtl•s 1. Durham Mlners. Assoclatlon: R8dhiifs CIO aTrJ t[haM Miners. ASSlaIt0n have wothed together to transfer the ownershlp of the hall and realise the reqwed fun(ts kn the haNs' renewal. The hvo organisations also share key personnel. wih DMA D¥ectors Slgkw Guy and Ross Forbes )Ijing role of Trustee and Employee respedwely. Durham Miners. Assocaation is therekne considered by Redhills CIO to be a related paty and all tranSactS befvM8n the Iw? organisations should be ¢J81gared as suth to ensure the st witer8sts of the chanty afe swved at al tiffes. 2. Universlty College London: Redtulls CIO is wrmkiry in partn8rship with UCL to develop community r8s8arch nelworks in the former DurtM Coalfidd area. Redhills TNstee Professor John TomeY is an employee of UCL as a Seruor Professor. transactions befvfftn the paths shcrtjld therefNe be declared to enwr8 Ihe bast interests of th8 ¢arity seNed at am timgs. Trustws R•mun•r•¢lon No members of Ih8 board of trustees receiveil remunerakn durfng the year. No trustee or other person related lo the charity had any persona interest in any contracl OT tr8nsaction entered into ty the charity (knring the year. Plans lor th• futur• Redhills CIO will open thè refurbished Miners Hall for and trading in the Spring of 2025. This will mark the end of tha capital programmg and construction phase. A sctdule of events, eL)nferences and other income generating activities is be•)g develcf*d. Re¢n#1nnt staffmg the operational bukling arKI associated outreach funclions is uThJerw8y. Prngrammes for educaticrfl and c¢wnmunity engagoment are beirwJ deveknped to fulfil the CIO'S commitrnent to hwitage and EtUrnI wo
Redhills CIO Statement of trustees. responsibilities Year ended 31 March 2024 The trustees arn responSie for preparing the truste8s' rert arKI the finanaal stat8m8nts in accordance applicable law and United Kingdom ACCO119 Slandards {Uryled Generally Accepte(l Accountlng Practy"ce). The law applicable to charities in England & Wales requires the trustees lo prepare finanoal stal8m8nts for each financial year which gNe a Iwe and fair Mew of the stste of affwrs of the charty and of ils InCning resources and application of resources, inchyjing its iro)me ar¥J ex1vlIure, that period. In preparing these financial statements. the trustees are required to: select suitsble accounting policies and then apr4y them coMslently. obsewve the methods and principles of the charit SORP (FRS 1021: make judgments accL•unting estimates that are reasons and prudent: stale whether appliCae UK Accounting Standards (FR5 1021 have b8en followed, subject to any matarial departures disclosed and explained in the ffinanci statements.. prepar8 the financial sta18ments on the going concam unl8ss il is inappropriat8 trj presume that the charily will clInUe in buwness. The trustees are responslble for keeping adequate accwntirvj records that are Sufficient to show and explain the charitys transactions and disclose wth reasonable aeojracy al any tyne the fmancial position of the eharity and enable them lo ensure that the financial statements V*ith the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and th8 provisirms of the Trust d8ed. They are atso responsible for safeguwding the assets of the charty and hence for lakiw reasonatrfe steps the prevention and detecbon of fraud and other wregularilies. Approved by order ofthe members of the board of twsiees on 28 January 2025 and signed on its b8haff by.. Raymond Mllls Trustets
Redhills CIO Trusts•s' report (continued) Year endgd 31 March 2024 Dhcloswo of Inforniatlon to audltors Ea¢h of the persons who are trustees al the tn this truste8s' report is aprwved has cOnfirffd thaL' so fw as that Inlee i8 Wware, Ihere is Tr) rethnl awjil infomwtion of which Ihe charivs auditors afe unaware. and that trustee has taken al the steps that (l to have been taken as a trust in order to be aware of any relev1 autht )f0MlatIOn and io establish Ihal the charilsls aLKlilors are aware of that inf0Mli0. Audttors UNW LLP were appointed as aLKlitor duriThJ the >tar. The auditor has IndKaled their willyne$S to contirth in office. The d8signated Injstees prowse a motion reapFointiNJ the auditors at a meeliw d the Irusteèg. Approved by order of the members of the tr))ard oflnjstees on 28 J•uary 2025 and swJn&J on their half ty. Raymond Mllls Trustse peT
Independent audftors. report to the MemberJ of Redhllls CIO Oplnlon W8 have audrted Ihe financial statements of R8dhills CIO lthe'charilrf) the year ended 31 March 2024 which comprlse the statement of financial aclmties. Ihe balance sheet. the slatemenl of cash Ilows and the related notes. including a summary of gnificant acCnting Oies. The financial rewting framework that has been applied in their preparalion 1$ applicable law and United Kingdom Accounting Standards. inclLhJing Financial Reporting Standard 102 The Financi Reporting sIdard aPpIale in UK and Republ of Ireland, (United Kingdom Accepted AccLwnl¥N Prnctice}. In our opnion the financial statements.. give 8 true and fair view of the state of the chaiivs affalrs as at 31 Marcb 2024 and of its incoming resources and apiCatiOn of resources. inck"ng rt5 Korr expenth.lure for the year then ended.. have been properly prepared in accordance TIh United Kingjom Gerralty Accepted kcounting Practice: and have been prepared accordance ry1h the requirements of the Charities Act 2011. Basls for oplnl¢>n We conducted our audll In accordanc wih 1ntemab.onal Stsn(lards ty) Auditvig (UK) {'ISAs IUKI? and applicable law. Our responsibilllies mder those standards &e fijrther described in Ihe'Auditors' responsibilities for the audit of the financial statements. section of ow report. We are independent of the charitable company in accordance with the ethical requirements that we rde¥anl to ow alIt of Ihe fmancial statements li the Unlted Klngdom. Including the Finan081 Reporting Coun(#fs Ethic Stsndard, and we h8ve fulled our other ethical responsibllits kn accordance with these requrnnents. We beheve that the aKls1 evidence we have obtained is sufficient and appropriate to provide a baS our opinicm. Concluslons r•latlng to golng conc•rn In audi.ng th¢ finaThial statements. we hav& ¢ILKI9 Ihat th& truslges. us9 of thg goiThJ coeM basis of accounting in lh8 preparation of Ihe financial slatornnts is aprwiate. 88sed on the work we have perform. we have not 1jenlrfd any material uneertainties rèlating to events or ndilions that, inithvidually or coledively, may cast signfficant doubl on Ihe charitys ability lo continua as a goirwJ concem for a period of al18ast Iweh8 Mth$ from when the fu181 Statewnts are aulknised for issue. Our responsibilities WKI th8 resFM)nsibilis of tr trustees wilh respect to gc4ng concem are described in the relevant seclions of this report. Page 9
Independenl audltors. report to the Members of Redhllls CIO {contlnu•d) Other Information The other infomiation eomprises the Infomiatlon knckmled in the annual repcrt other than the financial statem8nls and our auditors, ror thereon. The trustees are responsible for the other infomiation ¢CtsIne vllhin the annual rewrt. Our ot4rvon on the fman¢ial statements d¢MS cover the other infomiation and, except to the extent othernise expliatly ststed in our report. wo do not oxwess any fomi of assurance CLMelusion thereon. Our responsibility 15 to read the other k)formation aThJ. li (lovJ so. consider whether Ihe other information is materiaty inconsislenl th the finarKial statements our knowlo(kJg Obtaed in the COLbrse ol ihe audit. ¢y olhgThvise appears to be materially misstsled. If Kjentrfy such material in(x)nsistencies or apparent mat8rial misststements. wa are rewred to deterniine whether this s¥ves rise lo a material misstalem8nt in the financial slal&ments themselves. If, base(l on the wjrk we have perfomwd. we Condude that there is a rnalerial mlsststement of this (rthw inf(ymalb)n. are reqimrwj lo repyt thal fa¢1. W8 have nothing to repjrt in thi5 regard. Mattsrs on TAhl¢h w• •r• r•qulr•d to r•port by •xc•pllon W6 have nthng to reF¥)rt in respert of the mattets where the Charities (Acents and Reports} Regulations 2(K)8 requires us to report lo y)u if. in (r 10. infomiation given in the InBtees' repNi is ilwASIStl in material respect with the fmanci81 statements.. ty sufficA8nt accounting records have Thjt been kept: or the financial slalemenls are not in ament with the aCecntI records and retums; or we have not received al the information and explanab.ons we requ¥e for our audit. R•sponlbllMlos ol trust••s As expL•"ned more fully in the trustees. resFW)nsitrflis statemenl, the trustees are responsible for the prepatalion of the fmanaal stalemeftts and for beiro satisfiad Ihat th8y sivè a true and fair viaw. and for such ini8mal control as tho trustees deterrni is necessary lo ble the preparation of fmanual statements that are free frc#m material ls$tateMent, whether duè to fraud c* effor. In preparing the financial ststemenls. the trustees ara for asS8ssing the charitys abih'ty lo u)nlinue as a going rKern. diseknsing. as applicatAe. matters relaled to going concern and usirrtj the wing concem basis of accounting unless the trustees ther intend to IKiuidate th8 charity or lo cea$8 opgrations. gr have no realistK allemative bul to ¢ so. Page 10
Independent audltors. report to the Members of Redhllls CIO (contlnued) Audltors. responsibi16ti•s for th• audit ol th• finanGlal sLitOnlS Our objectives ar8 to obtain reasona0 assurance alxxrt wher the finanryal slalements as a whole are free from maledal mlsstatemenl. whelhef due to fraud or error. aThJ to issue an auditots. report that ncludes our opinion. Reasonable a5surarbce is a trNgh level of assuran. tyjl is not a guarantee that an a111 ndUCted in accordance with ISAS IVKI will detect a material mi5Statement wthen il 8xtsts. MiSstatenIS can arfse from fraud ( error and are considered material rf, indmdually in lh8 aggregat8, they could reasonably be expected lo influence the eConlIC deusion5 of users taken on the basis of these finanrial statements. Irregularities. irKluding Iraud. are InSLin of n-Comp1v iih laws and regulations. We de52n proureS in line wlh our responsibilitie& ou11w at)ve. lo detect material misstatements in respect of irregularities, induding fraud. The extent to which oui procedures are capable of detecting iffegularibes, including fraud is detailed below.. We identiffied areas of law and regLlations thal could rea5ats bo expected io have o molerwl effecl on the fincial ststgments from our general seclor experience and through discussKJns with the directors and other manement las requlred by Auclting Stand8r(Is) and from Inspedon of the chariws 981 corre5poThlenee an¢J we disujssed wlh the director5 aTrJ olher marement the policies and proc8dures in place regarding compliance th the laws arKI regulatK)ns. We communicated identified laws and regulalions throughout our audil team arKI remained alert to any indications of non-complianc8 throughout thè audtt. Fir5ly, the charity is sutyecl lo lav•S armj regkn5 that directty affect financral ststements including financyal reporting legislal)n (including related companies legislati} and laxalion legi$lalion and we 8sses5eiJ the exlenl of compliance with these laws and 18gulatw)ns as part of procedw8s on Ihè rèlated financial stat8m8nt items. S8corNJly. the charity is subject lo mwy other law5 8rKJ regatiOnS where the consequences of nc-coMpllance could have a material effect on amounts or disc105ures in the financrdl ststements, for instance ihrough the imposition of fines or liligath'on. We identified the folhMThJ areas as those m051 likely to have such an eff8cl', health safety. emrAoyThenl law. dala protecticm. envyonmental law and certan aspects of company legislation, recognising the nature of Ihe chafttys actM"tss. Alting Stsnd¥ds limit th8 required 8udit procedures lo identify non-compliance with these laws MI regulations to enqulry of the dlreclors and other management and inspection of regbjlalory ar¥J legal csdere. if any. Through these procedures we dKI not become awa of any &tual or suspected rm¥plIan¢e material lo the financial stslemenls. Because of the itherenl limitati$ of an wdil, Ihefe a risk that not detect all irregularities. includirwj those leading to 8 material mi5stslement in the financial statements or norKompliance with regulation. This risk increases the more that comlance vmh a lay or regulatn is removed from Ihe events and transactions reflected in the financial statements. as we wiu b8 less likety lo b8come aware of inslances of non-compliance. The risk is also grealer regarding irregLlarilies (rring to fraud rattw than error, as fraud involves Inlertlional concealment, fery, ¢ollusK)n. omissim or misrewes8ntaticrf. A futher descripknn of our reSponslI1e5 for the audTt of the ffiancial Statements 15 located on the Flnancial Reporting Counol's website at: V.frC.or .uklaLKlilcryes sibilrties. This deP11)n fonns part of our auditors, report. Page11
Independent audltors. report to the PAembers of Redhllls CIO (contlnued) Us• af our r•port This report is mad8 solgty to the thariws lJustèès. as a tK¥ty, In accordce wtth Part 4 of the Char4tles {Accounlg and Rep)rts) Regulations 2008. audit work has baen uTrJ8rtak8n so that we might stal8 to the charivs trustees trSe matters we are requked lo state to them In an audrtors, rert and for no other purpose. To t1 lullest extènt pgrmitt8d by law. VB (kn accept or assume resJ)onsibility to afty(e other than the chariws and 115 trustees, as a b(#ty, for our audil t. for tIMs repyL or for the opinions we have form8d. n• Hallowell 8S¢ DChA FCA fS•nlor Slattrtory Audl for and on behaff of UNW LLP. Statutory Audltor Chartered Accountants Newcastle upon Tyne 28 January 2025 Page 12
Redhills CIO Balance sheet At 31 March 2024 2024 2023 Flx•d assets Tangible assets 5.075.063 1,500.000 5,075,063 1,500,000 Currnnt assats Deblors Cash al bank and li hand 10 1146.711 481.643 7,6r 265.491 2.628.354 273.097 Creditors.. amcmjnts fallrKJ due within one 11 {607.980) 17.5CKI) Net currwtt •s$ets 1020,374 265,597 Total n•t ass•ts 7.095.437 1.765,597 Charlty funds Restricted lunds 13 13 309,502 6.785.935 273.462 1.492.135 Unrestricted funds Total funds 7.095A37 1.765.597 The tru51ees acknowle(Ige the¥ re5P(¥151bIlS for comptyry V¢h the Tequirernents of Ihe Act wrth respect to counting reeknrds and préparation of fuwrtial statements. The finanL?al stalemenls were aPFrfoved and athOrI for issue by the trustees on 28 January 2025 and signed on iheir behaK by.. Raymond Mllls Trustee Charty registerèd number." 1193927 The notes on pages 16 to 27 f part of Ihese thanaal statements. Page 14
Redhllls CIO Statement of financlal aCtitIeS (Incorporating income and oxpendilure xcount) Year •nd•d 31 March 2024 Restrlcted Unmtricted funds funds 2024 2024 Tot•1 funds 2024 Totsl funds 2023 Inc¢xn• from: Donatitjns and leg$ &645260 1010.693 S655.953 1,932,481 Total In¢om• 3.64S260 2,010,693 &655.953 1.932.481 Expanditure on: Charitable activrties 34,157 291,956 326.113 166,884 T¢)tal expendltur• 34.1FI 291,956 326.113 166,884 Net Income Translers betsveen funds 1611.103 13.515.063) 1.718.737 3.575.063 5.329.840 1.765.597 13 N•t mov•m•nt In funds 36,040 5.293,800 S.329.840 1,765,597 RwinGlllatlon of fund•: Total funds brought fOr4rd Nel movement in funds 273.462 1A92,135 S293,800 1,765,597 5,329,840 1.765.597 Total fundg l*d forward 6.785,93S 7.095.437 1,765,597 The notes on pages 16 to 27 fomi part of Ih8se frn[la1 statemen15. Page 13
Radhills CIO Statement of cash flows Year ended 31 March 2024 2024 2023 Cash flow• from 0ratIng adivlti•s Nel used in operating actiwtie5 15 3206,918 1.716,029 Cash IIow5 from InTthting activities Nel used in finan(in9 activib.ies 16 12,990.7661 11.500,0001 ¢a$h used In Invosllng actlvltles 12.990,7661 11,500,000) Cash flows from ffinanclng actlv61ies Nel $h prov5dad by Ilnanclng acllvltl•s Chang• In cash and cash equlvalents In th• y•ar Cash and cash gquivalents at the boginNry of the 216.152 216,029 265.491 49,462 Cash and Cash equivalents at thè of the year 481.643 265,491 The Th)les on pages 16 to 27 form parl ol these finantial stslements Page 15
Redhills CIO Notes to the financial statements Year ended 31 March 2024 Genoral Infommtlon The eharfty bs a company knlted by guar, incp¢8ted and tknicikd England and a regitered charity in England and Wales. The athkns of the registered offh is Durham Miners Hall, F18ss Street, [rham. OH14BE. The members ofthe cnmpany we the trustees named cn pago 1. A summary of the prncipal acwinlwry Frfjls ath4)1 {bthich have been 4)pled consistent, except noted). pdgm8nts a1 key sowces ofestimat#M uertainty. 15 Sel out below. Accountlng polkl•s The following accounting policies have been applied cortsistenty in dealiNJ wth items which are consJer8d materTral in relation lo the fanCIal slalemenls. 2.1 Basls of preparation of financial slat•m•nis The fnanu81 stslements have been prepared i) X%)IdanCe with the Charities SORP {FRS 102} - A¢ctyJnting and ReprNting by Charities: Statement of Recommended Pr&knce appllcable lo charllles preparing their accounts in accordance with the FinarKial ReFKJrting Standard applicab in the UK and Republic of Irel fFRS 102? {effedive 1 January 2019). the Financial Réporting Standard applicabl8 in the UK and RepublK ol Eroland IFRS 102? and the Chariti9s Act 2011. Redhills CIO meets the definilion of a publK benefft entity under FRS 102. A55ets and liabrfilie5 are initially recwised at historical cosi or transaclion vakne unless othèmise statèd i) the relevant accounting pjlw. The financ81 slalemenls a presenled in pou1$ stgrfttry V•thth is th& functw)nal currency ol Ihe tharity are rounded lo the nearest £1. 22 Golng eoncern The charity meets its cawtsl rewiraments thrcwgh its operating cash ftows. The ¢hariWs IeCaStS and projecth)ns for the next mthS that the th8rity should be able lo COntU8 in op8rational eStenCe for that period. The charity has strong positive cash balances and is forecasling for Ihis lo conlmue lo be the case. The trustee5 have stress tested their forecasts. lakn'ng into ac(xyJnl varicw scenarios, and remain confidgnt that the uncertanllgs do nol I significant doubl on the charitys abikty lo conlinue to be a goiro concem. After making enqLMries, the tnjstees have a reasonable expectation Ihal the chaiity has adequatè resourc8S to Contr.n in op8rafional existence for tho foreseeable future. Accordingly. they continue to ad¢)pt the ¥rj concem basis in weparing fi181 statements. 23 kn¢om¢ All income is reccwised C4K the (tharity has entillement lo the inc(rfr. it is pr(tsblg Ihal the income N b& received aThJ amount of incg)me rl¥ab can bg measwgd relably. Grants are included in the statement of finala1 3Llivitie5 a receiwable basis. The balance of income reCved for SpecIf purposes bul not expended duriNJ the peri¢)J is shown wi Ihè relevant fvnds on balance sheet. Where irbcome is received in athan ol entiuemenl ol receipt. its recognitM)n is defeffed aTh1 induded in crediiors as deferred income. Whw8 ents'llemenl occurs bofore incne is received. the incorne i8 accrLd. Pag8 16
Redhills CIO Notes to the financial statements Year ended 31 March 2024 A¢counting policles (continued) 2A Expendfture Expendilure acLwnled for on an ac(x$ basis aThJ ha$ bw) InclLKled under expense categories that aggregate all eosts for allocath)n to aclivities. Where costs cannot be directly attributed to parlicular acbvilies thoy hav¢ boen al¢ted on a basis $1Stent with the use of the resour$. Support ojsts are those w515 irwred dirpcty in support of expen¢Jtur& on the objects of the charity, incbjding those incurred in conneetion with the admiThstrab'on of the charity and compliancè wlh constitutional and staluw requirements. They are ap[#Nti0 4ainst the activities of the Gharty in line with the estimate usage of those costs. Expenditure on charftable &bvilies i% incjfftd ¢J) directy thertakiN) the activil'es which further the charitys obiecbv8s. as w811 as any aSSlated sUp7rt costs. Al expenditure is indu&Ye of wrecovwknle VAT. 2 Employ8• b•n•fits Short-temi benefits Short-lerm benefts. including holKlay pay and other sinNlar nOnwftnetary benefrts, are recognised as an expense in the peri¢yJ in the service is receNed. Dellned conenlbueion pen$lon The chwitable company (yerate5 a defined conlritmjtion pension plan for its employees. Contributions are renised as an expSe when they fall due. Amounts due bjt not yet paid are inded within creditors on the balance shee(. The assets of the plan are held separately from the company in wid8p8fKl8ntty Mir¥sred funds. 2.6 Tanglblè fixed assets and ¢kweclatlon Tangle fixed assets are capitalised and recognised wthèn futur6 econorric benefrts are probable and Ihg Cost value of the assel can be asured relawy. Tangible fixed as5els are initidty recwni5ed at C05t. After recognitic. under the $1 model. tangible fixed assets are measured at cost less accumulated depreciation any MUlated impaimienl losses. All cosls incurred to bring targble fixed assets into their intended wcffkiThJ condition are inckjded in the measurement of cost. Assets in the course of construc11 are induded at ts)sts incurred lo date. Depreciation on Ise assols is rty)t charg8d until they are brought into use. 2.7 Debtors Trade aThl other debtors are rewrysed at settlemenl amount after any trade discounl offered. Prepayments are valued at the amount prepaTrd net of any trade disccwnts duo. 2A Cash at bank and in hand Cash al bank and in hand cash and shcw14emi highty lmiuid vwestments with a short maturity of Ihiee months LY less fr(Mll the dale of acquisitson or opening of the deposil or sknilar account. Pa9e 17
Redhills CIO Not•s to the flnanclal ststements Year ended 31 March 2024 Aecountlng polklèl {¢¢xrtlnu•d) 2J Llabllltles and provlslons Ll8billlles are rec(YJnised vthen there is an obligation * Ih8 balancé sheet date as a result of a past event. it is probatAe that a transfer of econrxnlc benefit will be required in settlewent. and the amount of the setuement can be estwnatsd r8liabty. otrAlilies we recoW$d at amount that Ihe charity anltcijates it WM pay to Se Ihe debt or the amount il has reCeId as a(fvmd payments for the gcKJs cf seNos it must provide. 2.10 Flnancial Instrum•nts The charity onty has finla1 assets arrfl finaThial I1&tS of a kind that qualify as basic fInCIal instruments. Basic ffinancial instruments are initialty recognis•J at trarrsactvjn Yalu8 al subsequently measured at ¢hew sethment vaue. 2.11 Fund accountkng Géneral funds are unrestrted fund5 whth are wailatle for use at the discrelion of the trustees In furtt)erance of Ihe genwal c+Jiecbv8$ of the charity and which have not been designated for other Restricted lunds are funds are to be used In accordan with specifK restricti$ wnposed by donors LY which have been raised by the charity for partiujlar purposès. The ol raisin9 and administering SLKh fvThJs are Charged against the speofK fuThS. The aim and use of each restricted fund is set out in the notes ¢0 the finanual stat8m8nts. Crlllcal accountlng •stlmat•s and arthis of judgment Estimates and jLKlgements are clin[ evaknated aTrJ are based on historical experiènce a1 other lactors, induding expeclatiorts of fure events that e believed to t* reasonable under the arcumstances. In prep8ring these fInarla1 statements Ihe trustees do rK o)nsNJer there were any signKi¢ant areas of judgement or accountiNJ eslimales that were requyed in apptywig the ehaTitWs accounting policies as set out above. Pag8 18
Redhills CIO Notes to the financial statements Year ended 31 March 2024 Incomè from donatlons and legacies Restrlct•d Unrestrlcted funds funds 2024 2024 Total funds 2024 Grants NHLF 2,325,412 s.400 709.556 2,325,412 590.400 709.556 150.000 300,000 80.585 cwO Durham County Council Arts Council Garfield Weston Other grants 150,IXN) 300,OCKI 60.693 19.892 Total grants 3,645.2 510.693 4,155,953 Donalrons 1.500,OCK) 1,500,000 Donations 1.500,0(XI 1,500,000 3.645260 2.010.693 5,655.953 Rèstricted Unre51ricled funds funds 2023 2023 Total funds 2023 49.462 224.OlX) 1.659.019 1.708,481 224,000 Grants 273,462 1.659,019 1.932.481 Pa98 19
Redhills CIO Notes to the flnanclal statements Year ended 31 March 2024 lysh of •xp•nthtur• on charltablo •ctivlll Summary by fund typ• Reslrlcl•d Unr•strlct funds lunds 2024 2024 Totsl 2024 Charit8ble activeS 34,157 291.956 326,113 Vnreslricled fLmds 2023 Total 2023 Charilable acti8$ 166,884 166.884 An•lysl$ of exp•ndltwe by actlvll A¢tlvllks und•rtaken dlrec¢ty 2024 Support ¢osts Total funds 2024 2024 Community wfjagement and events 258,469 67,644 326,113 undertaken directly 2023 Suw)ort costs 2023 Total funds 2023 Community gagefflenl and ev 1S9,019 7,865 166,884 Pag8 20
Redhills CIO Notes to the financial slatements Year ended 31 March 2024 Analysis of •xpenditur• by activllkn InnOl Analysls of supp¢)rt costs Total fund¥ 2024 Total funds 2023 Rent and rates Light power and heat Training and subscriptrons Administratm expenses Travel InsurarKe Legal Govemance costs 33,329 4.570 1.222 10.598 5.735 1,932 1.308 8.950 285 7.500 67.644 7,865 Audltor4' rgmun¢ratk•n 2024 2023 Fees payable lo the ¢hariWs audit fry the audit ofthe tharitys annual accounts 7.750 7,500 2024 2023 we$ and salaries Soual security eosls Contribution to defined ts)ntribulion PS1On sthemes 181,527 13,879 4,078 145.667 11.072 2,280 199,484 159,019 The average number of p8rsons empkjyed by the charity during th8 year was as folk)ws: 2024 No. 2023 No. Average number ofempbyees P*Je 21
Redhills CIO Notes to the f5nanclal statements Year ended 31 March 2024 Slaff costs (¢onlInu No efflph) receNed rerwneralM artnting to ff#Jr8 than £60.000 in erther yBar. The total emplo8 of the key management persl1 of the (arlty ware £133,583 12023.. £122,332}. During Ihg wior year, no trustee received any remUr817n or reimbursem8nt otexpenses. Tanglbl• flx•d ass•ts Freehold proyrty Cosl or valuatlon At 1 April 2023 A(lilions 1.500.000 3,575.063 At 31 March 2024 5.075.063 Oepreclation At 1 April 2023 Charge for Ihe year At 31 March 2024 Net book valu• At 31 m?h 2024 5,075.063 At 31 2023 1,500,000 Th8 Miners HBII. inchJd8d freehobj woperty atove. was tfa•)sferred to the charity from DMA 2021 Limite(l in March 2023. The propety was transferred at a ts)5t of £1.5CN).ts)O based on a v8lu81ion of tho bUildg Ferfrym8d by Hampton Smith Lamptyi (m 7 June 2022. 10. Deblors 2024 2023 Trade debtors Prepayments and aCcnl inccrfne 646.711 1,500,000 7.606 2,146.711 7,606
Redhills CIO Notes to the financial statements Year ended 31 March 2024 11. Cr•dltOTS: amounts fallin9 (kn withln on• y•ar 2024 2023 Trad8 creditors Other taxation and social secuiity Othèr creditors Accruals deferred incfme 405.586 6.482 717 195.195 7.51x1 607.980 12. Penslon commltments The charity operates a defined contribut$ pensK)n scheme. The assets of the scheme are held separately from those of the company in an iWeThJenty administered fund. The pension cost charg8 represents c0ntrt1ulft$ payabte by the company to the hjnd and amounted lo £4.07812023'. £2,280) . Contrtjuknons tolalling £707 {2023.' £nil) payable to Ihe fund at tho balance sheet dale and are included in CdItOrs. Pa38 23
Redhills CIO Notes to the financlal stalements Year ended 31 March 2024 13. Ststam•nt of funds Slalement of fvnds. ¢urr•nt yw Balance at 31 March 2024 B•lanc• •t I •rf12023 Transf•rs out InG¢)me Expend6ture Unrestrlctsd fvnd$ Genernl Furnjs 1891135 1010.693 1291.9561 3,575,063 6,785.935 Reslri¢ted funds ciswo NLHF Rgjhills Revèaled DMA Pwtnership Funds Dutham County Council UCL Community Research Neknrk Trusts ar FOldatIOnS Other smaller restrictsd fvnds (590.4001 13,6701 12.375,742> (49.462> {559.459) XI)iMI 132S412 709.$56 150,097 170.0 {26.7331 143,267 10,000 6,138 10,01)0 9.892 13.754) 271462 3.645.260 {¥157) 13.575.063> 309,502 Total of funds 1.76S597 5.655.953 1326.113 7,095,437 The transfers frcrfn the restrKted fund to the unrestr•Xed lund relales entirew to the Redhils Revealed cakytal proiect. Page 24
Redhills CIO Notes to the financial statements Year ended 31 March 2024 13. Statement of furtdl (Contind> Slatement ol fund$ - prlor year Balance al 31 March 2023 Inwne Expenditure Unrestrlcted lunds General Funds 1.659.019 1166.884) 1,492.135 Rwtrlcted funds UCL COMMlty Research Net4w) NLHF Rethills Revealed DMA P¥tn8rship Funds 170.(N)O 170,000 54,000 49.462 49.462 273.462 273.462 Total of funds 1.932.481 1166.884) 1,765.597 The speofK purposes whth the are lo be applied e as fO1)W5. CISWO: funds provided for the refurbishrrnl of the Miners Hall roof. NLHF Redhills Reveaknd: captsl de¥ekwenl Fwramn for the renewal of Durham Mlners. Hal. DMA Partnershy FLmds: fundiThJ suptyifor the dekvery oflhe Redhills Revead programrrE. Durham County Cwncil.. funds for delrvery of the Redhills Reveed casxtal prcgramme. UCL Community Research Netsvcffk.. researth prcJraThrn and activilies exploring heritage aThJ identity in tho fcffiwr coaffi8kJ. Arts Council.. lunding support for the RedhiU5 Reveakd capilal FY¢4ect a5 RethiRs CIO is designated as Nalional Pcrfolio Or9anisalion INPO). Trusts and FoLmdations.' Garfdd Weston provvjed UntriCted fundiThJ for thè overal Redhills Rèvealed project. P&Je 25
Redhills CIO Notes to the financlal statements Year ended 31 March 2024 14. Analysls of n•t aM•ts b•lwMn funds Analysls of n•t assets b•lw••n fwKls- cwr•nt pttlod R•strkt•d Um8trlcted funds funds 2024 2024 Total funds 2024 Tanble fixed assels Current assets Creditors due TrMthin one pr 5.075,063 5.075.063 707.694 1.920.660 2.628.354 (398,1921 {209,788) 1607,980 Tatal 309.502 6.785.935 7.09S.437 Anatysis of assets tween funds - prlor p•rlod Restricted Unr8stricted funds 2023 Total funds 2023 2023 Tangible fixed assets Current assets CdItOrS tkn within one yaar 1.500.0 {3651 17.5001 1.500.000 273,097 {7,500) 273.462 Total 273,462 1.492,135 1,765,597 15. Cash flow from operatlng acllvltl•s 2024 2023 Net income for the perKwJ Increase in debtors Increaselldecxeasa) in creditors 5,296.200 (2,139.105) 49.823 1.765,597 {7,606) {41,932) 3,206.918 1.716.059 Page 26
Redhills CIO Notes to the flnanclal statements Year ended 31 March 2024 16. Cash Ilow from Investlng actlvlti 2024 2023 Purchase of tangible fixed assets 12,990.766) (1.500.000) 12.990,766) (1.500.01)0} 17. Contlng•nt lialItieS RedlIS CIO is in receipl of a grant from the Nat1)n Lottery Halla FuTrJ. The sranl is secured upon the buikling owned by the charity and 1$ subied to Testri¢bon$ and wtential claw back should the use of the property noi meet th8 syant conditions. for a perilxl of 20 years. 18. Capltal ¢ommStments 2024 2023 Contrac1 for l)ut not provlded In thes• Ilnanci•l statem•nts 6.849.316 19. Related party transactions DurirKJ the year. the tharity made the folhym'ro rdaled party transactions: Durham Miws Associal)n IDMA). wi thich SteFthn Gwy was Chairman. provided income lotalling £1.sW.OI2o23.. £49.462) in •d of ts RgdhilEs ReVead capxtal prqect uThYeMay. Unlverslty College L¢th)n IUCL). for **¥th Redhlls Tnjstoe Professor John Tomaney is an employee, pry)vided income of £nil (2023.. £170.0(K)}. Page 27