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2025-03-31-accounts

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Registered number: Charity number: 1193927

Redhills CIO

Annual report

Year ended 31 March 2025

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Contents

Page
Reference and administrative details 1
Trustees' report 2 - 5
Trustees' responsibilities statement 6
Independent auditors' report to the members of Redhills CIO 7 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Reference and administrative details Year ended 31 March 2025

Trustees

David Anderson (appointed 4 June 2024) Beth Jones Kate Abson Cllr Elizabeth Scott Mary Stratford Victoria Hughes Rachael Lennon Raymond Mills Prof John Tomaney Christopher McDonald Cllr Rob Crute (appointed 5 November 2024) Stephen Guy (resigned 9 July 2024)

Charity registered number

1193927

Registered office

Durham Miners Hall Flass Street Durham England DH1 4BE

Independent auditor

UNW LLP Chartered Accountants Citygate St James' Boulevard Newcastle upon Tyne NE1 4JE

Bankers

Handelsbanken 101 Barbirolli Square Manchester England M2 3BG

Page 1

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Trustees' report Year ended 31 March 2025

The trustees present their annual report together with the audited financial statements of the Redhills CIO for the year 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

This reporting period represents the last phase of the capital development as the organisation prepared for early operational delivery and the reopening of Redhills, Durham Miners’ Hall.

Redhills CIO is a Charitable Incorporated Organisation, registered with the Charity Commission for England and Wales (Charity number: 1193927).

Objectives and activities

Charitable Objects

The objects of the CIO are:

(a) To promote for the benefit of the inhabitants of Durham without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants 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 other leisure time occupations with the objects of improving the conditions of life of the said inhabitants; and

(b) To preserve and maintain the Miners Hall, Durham and to manage the same for the purpose of a community centre.

Summary of activities

During the reporting period, the charity’s activities focused on:

The trustees confirm that they have had due regard to Charity Commission guidance on public benefit in carrying out these activities.

Achievements and performance

Postponement of practical completion

The period from April 2024 to March 2025 was dominated by the final stages of the capital build. During the year, the planned completion date was repeatedly postponed as the contractors’ timelines were continually revised. This inevitably focused the trustees’ attention on understanding and resolving the issues arising in the capital build programme, the resultant increase in the cost of the programme and the consequential need to raise significant additional funds.

Transition from Capital Project towards Civic Operation

With the prospect of completion and commissioning of the refurbished Miners’ Hall in sight, the charity began to actively plan for public access, use, and stewardship. This included the updating of the operational Business Plan, appointment of a Head of Operations and accepting bookings for events planned for late spring 2025.

Page 2

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Trustees' report (continued) Year ended 31 March 2025

Community programme

Redhills maintained a positive public presence while the building work continued. Highlights of the community programme included:

• Coal Face - The second phase of this multi-year research and photographic project explored belonging and place while capturing important oral histories of former pitmen. Activity included the publishing of a book and an exhibition in Sunderland.

Financial review

Total funds of the Trust at 31 March 2025 amounted to £10,870,630, of which £69,996 is restricted.

The fund movements for the year to 31 March 2025 are a £239,506 deficit (2024: £36,040 surplus) on restricted funds and a £4,014,699 surplus (2024: £5,293,800) on unrestricted funds following a transfer of funds from restricted to unrestricted totalling £4,241,803 (2024: £3,575,063). The net movements in total funds is therefore £3,775,193 (2024: £5,329,840).

Income and Expenditure

Income during the period was derived primarily from:

Expenditure reflected:

Fundraising

No significant public fundraising campaigns were undertaken during the period. Fundraising activity remained focused on institutional funders and strategic partners. The charity is not registered with the Fundraising Regulator.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

As the charity is in the early stages of operational delivery, trustees have not yet adopted a formal reserves policy. Free unrestricted reserves (not tied up in tangible fixed assets) at 31 March 2025 were £60,446, which will allow the capital phase of development to be completed. The trustees recognise the importance of building unrestricted reserves to support organisational resilience and have identified the development of a formal reserves policy as a priority for the next reporting period.

Page 3

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Trustees' report (continued) Year ended 31 March 2025

Principle risks and uncertainties

The trustees have identified the following principle risks during this transition period:

These risks are mitigated through:

A detailed operational risk register is now in place and reviewed regularly by the board.

Structure and governance

Constitution and Legal Status

The charity was established as a Charitable Incorporated Organisation on 26 March 2021 (registered number 1193927).

Trustees

The Board of trustees operated with eleven members, bringing a range of skills, experience, and community perspectives. During the year, the Board experienced the following changes:

Appointment of Trustees

Trustees are appointed for fixed terms in accordance with the Constitution. Induction includes provision of governing documents, recent accounts, strategic plans, and relevant Charity Commission guidance.

Management and Staffing

During the year, there were significant changes in management and staffing:

• In September 2024, the CEO, Nick Malyan, resigned to take up the post of Head of Culture for Sunderland. From October 2024 to December 2024, the role was covered by the Capital Programme Director, Ross Forbes. From January 2025 onwards, Andrew McIntyre was commissioned as part-time Interim CEO, through consultancy MHM.

Trustees maintained close involvement in supporting staff through the transition into operation and the intention is to advertise for and appoint a full-time, permanent CEO.

Page 4

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Trustees' report (continued) Year ended 31 March 2025

Related Parties and Trustees Remuneration

No trustees received remuneration or benefits during the period.

Related party relationships are disclosed in the financial statements. The trustees confirm that appropriate controls are in place to manage conflicts of interest.

Plans for the future

The trustees’ priorities for the next reporting period reflect Redhills’ transition from early operation into a more stable, confident phase of delivery.

Central to these plans is the continued development of Redhills as a civic anchor: a place that supports democratic practice, collective problem-solving, cultural expression, and learning, rather than operating solely as a commercial or cultural venue.

Key areas of focus include:

Trustees recognise that long-term sustainability will depend not only on income generation, but on Redhills being trusted, used, and valued as a shared public institution. The charity’s future strategy will therefore prioritise quality of use, clarity of purpose, and institutional confidence, alongside financial performance. The trustees believe that the reopening of the Miners’ Hall marks not the end of a project, but the beginning of Redhills’ next phase as a living civic asset, capable of serving present and future generations.

Disclosure of information to auditors

Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:

Auditors

The auditor has indicated their willingness to continue in office. The designated trustees will propose a motion reappointing the auditors at a meeting of the trustees.

Approved by order of the members of the board of trustees on 29 January 2026 and signed on their behalf by:

Raymond Mills Trustee

Page 5

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Statement of trustees' responsibilities Year ended 31 March 2025

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charty and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of trustees on 29 January 2026 and signed on its behalf by:

Raymond Mills Trustee

Page 6

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Independent auditors' report to the Members of Redhills CIO

Opinion

We have audited the financial statements of Redhills CIO (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 7

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Independent auditors' report to the Members of Redhills CIO (continued)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 8

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Independent auditors' report to the Members of Redhills CIO (continued)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

We obtain and update our understanding of the charity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the charity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pension legislation and UK tax legislation. In addition, the charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines and litigation. We considered the extent to which non-compliance with laws and regulations might have a material effect on the financial statements and we have assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We also evaluated managements’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to manipulate financial results, management bias in accounting estimates, as well as improper income recognition which includes fraudulent posting of journal entries to income.

Page 9

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Independent auditors' report to the Members of Redhills CIO (continued)

Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

UNW LLP Chartered Accountants Newcastle upon Tyne Date: 29 January 2026

UNW LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 10

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Statement of financial activities (incorporating income and expenditure account) Year ended 31 March 2025

Note
Income from:
Donations and legacies
5
Total income
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
265,730
265,730
492,834
492,834
(227,104)
4,241,803
4,014,699
6,785,935
4,014,699
10,800,634		 Restricted
funds
2025
£
4,060,019
4,060,019
57,722
57,722
4,002,297
(4,241,803)
(239,506)
309,502
(239,506)
69,996		 Total
funds
2025
£
4,325,749
4,325,749
550,556
550,556
3,775,193
-
3,775,193
7,095,437
3,775,193
10,870,630		 Total
funds
2024
£
5,655,953
5,655,953
326,113
326,113
5,329,840
-
5,329,840
1,765,597
5,329,840
7,095,437

The notes on pages 14 to 27 form part of these financial statements.

Page 11

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Balance sheet At 31 March 2025

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total net assets
Charity funds
Restricted funds
13
Unrestricted funds
13
Total funds		 553,336
973,062
1,526,398
(1,395,956)		 2025
£
10,740,188
10,740,188
130,442
10,870,630
69,996
10,800,634
10,870,630		 2,146,711
481,643
2,628,354
(607,980)		 2024
£
5,075,063
5,075,063
2,020,374
7,095,437
309,502
6,785,935
7,095,437

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the trustees on 29 January 2026 and signed on their behalf by:

Raymond Mills Trustee

Charity registered number: 1193927

The notes on pages 14 to 27 form part of these financial statements.

Page 12

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Statement of cash flows Year ended 31 March 2025

Note
Cash flows from operating activities
Net cash used in operating activities
15
Cash flows from investing activities
Net cash used in investing activitiies
18
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
16		 2025
£
5,223,599
(4,732,180)
(4,732,180)
-
491,419
481,643
973,062		 2024
£
3,206,918
(2,990,766)
(2,990,766)
-
216,152
265,491
481,643

The notes on pages 14 to 27 form part of these financial statements

Page 13

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

1. General information

The charity is a company limited by guarantee, incorporated and domiciled in England and a regitered charity in England and Wales. The address of the registered office is Durham Miners Hall, Flass Street, Durham, DH1 4BE.

The members of the charity are the trustees named on page 1.

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgments and key sources of estimation uncertainty, is set out below.

2. Statement of compliance

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.

3. Accounting policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.

3.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ('FRS 102') (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland ('FRS 102') and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Redhills CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in pounds sterling which is the functional currency of the charity and are rounded to the nearest £1.

Page 14

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Notes to the financial statements Year ended 31 March 2025

Redhills CIO

3. Accounting policies (continued)

3.2 Going concern

The charity meets its working capital requirements through its operating cash flows.

The charity's forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period. The charity has strong positive cash balances and is forecasting for this to continue to be the case. The trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the charity's ability to continue to be a going concern.

After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

3.4 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity, including those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements. They are apportioned against the activities of the charity in line with the estimate usage of those costs.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Page 15

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

3. Accounting policies (continued)

3.5 Employee benefits

Short-term benefits

Short-term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plan

The charity operates a defined contribution pension plan for its employees. Contributions are recognised as an expense when they fall due. Amounts due but not yet paid are included within creditors on the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

3.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring tangible fixed assets into their intended working condition are included in the measurement of cost.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Assets in the course of construction are included at costs incurred to date. Depreciation on these assets is not charged until they are brought into use.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

3.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

3.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 16

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

3. Accounting policies (continued)

3.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

3.10 Financial instruments

The charity only has financial assets and financial 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.

3.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

4. Critical accounting estimates and areas of judgment

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In preparing these financial statements the trustees do not consider there were any significant areas of judgement or accounting estimates that were required in applying the charity's accounting policies as set out above.

Page 17

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

5. Income from donations and legacies

Grants
NHLF
Durham County Council
Arts Council
Joseph Rowntree Foundation
Community Ownership Fund
Other grants
Total grants
Grants
NHLF
CISWO
Durham County Council
Arts Council
Garfield Weston
Other grants
Total grants
Donations		 Unrestricted
funds
2025
£
-
-
150,000
74,000
-
41,730
265,730
265,730
Unrestricted
funds
2024
£
-
-
-
150,000
300,000
60,693
510,693
1,500,000
2,010,693		 Restricted
funds
2025
£
3,464,124
314,334
-
-
281,166
395
4,060,019
4,060,019
Restricted
funds
2024
£
2,325,412
590,400
709,556
-
-
19,892
3,645,260
-
3,645,260		 Total
funds
2025
£
3,464,124
314,334
150,000
74,000
281,166
42,125
4,325,749
4,325,749
Total
funds
2024
£
2,325,412
590,400
709,556
150,000
300,000
80,585
4,155,953
1,500,000
5,655,953

Page 18

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

6. Analysis of expenditure by activities

Activities
undertaken
directly
2025
£
Community engagement and events
258,995
Activities
undertaken
directly
2024
£
Community engagement and events
258,469
Analysis of support costs
Rent and rates
Light power and heat
Training and subscriptions
Administration expenses
Travel
Insurance
Legal
Governance costs
7.
Auditors' remuneration
Fees payable to the charity's auditor for the audit of the charity's annual
accounts		 Support
costs
2025
£
291,561
Support
costs
2024
£
67,644
Total
funds
2025
£
24,178
36,320
1,841
17,180
1,089
192,305
6,248
12,400
291,561
2025
£
8,200		 Total
funds
2025
£
550,556
Total
funds
2024
£
326,113
Total
funds
2024
£
33,329
4,570
1,222
10,598
5,735
1,932
1,308
8,950
67,644
2024
£
7,750

Page 19

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
The average number of persons employed by the charity during the year was
Average number of employees		 2025
£
185,818
13,530
3,300
202,648
as follows:
2025
No.
6		 2024
£
181,527
13,879
4,078
199,484
2024
No.
5

No employee received remuneration amounting to more than £60,000 in either year.

The total employee benefits of the key management personnel of the charity were £95,500 (2024: £133,583).

No trustee received any remuneration or reimbursement of expenses in either year.

Page 20

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

9. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
5,075,063
5,664,544
10,739,607
-
-
-
10,739,607
5,075,063		 Computer
equipment
£
-
581
581
-
-
-
581
-		 Total
£
5,075,063
5,665,125
10,740,188
-
-
-
10,740,188
5,075,063

The Miners Hall, included in freehold property above, was transferred to the charity from DMA 2021 Limited in March 2023. The property was transferred at a cost of £1,500,000 based on a valuation of the building performed by Hampton Smith Lampton on 7 June 2022.

10. Debtors

Trade debtors
Prepayments and accrued income		 2025
£
82,833
470,503
553,336		 2024
£
646,711
1,500,000
2,146,711

Page 21

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

11. Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
570,072
2,831
461
822,592
1,395,956		 2024
£
405,586
6,482
717
195,195
607,980

12. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,300 (2024: £4,078) . Contributions totalling £461 (2024: £707) were payable to the fund at the balance sheet date and are included in creditors.

Page 22

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
NLHF Redhills Revealed
Durham County Council
UCL Community Research
Network
Trusts and Foundations
Community Ownership Fund
Other smaller restricted funds
Total of funds		 Balance at 1
April 2024
£
6,785,935
-
150,097
143,267
10,000
-
6,138
309,502
7,095,437		 Income
£
265,730
3,464,124
314,334
-
-
281,166
395
4,060,019
4,325,749		 Expenditure
£
(492,834)
(57,722)
-
-
-
-
-
(57,722)
(550,556)		 Transfers
in/out
£
4,241,803
(3,406,402)
(464,431)
(89,804)
-
(281,166)
-
(4,241,803)
-		 Balance at
31 March
2025
£
10,800,634
-
-
53,463
10,000
-
6,533
69,996
10,870,630

The transfers from the restricted fund to the unrestricted fund relates entirely to the capital spend on the Redhills Revealed capital project.

Page 23

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
CISWO
NLHF Redhills Revealed
DMA Partnership Funds
Durham County Council
UCL Community Research
Network
Trusts and Foundations
Other smaller restricted funds
Total of funds		 Balance at
1 April 2023
£
1,492,135
-
54,000
49,462
-
170,000
-
-
273,462
1,765,597		 Income
£
2,010,693
590,400
2,325,412
-
709,556
-
10,000
9,892
3,645,260
5,655,953		 Expenditure
£
(291,956)
-
(3,670)
-
-
(26,733)
-
(3,754)
(34,157)
(326,113)		 Transfers
in/out
£
3,575,063
(590,400)
(2,375,742)
(49,462)
(559,459)
-
-
-
(3,575,063)
-		 Balance at
31 March
2024
£
6,785,935
-
-
-
150,097
143,267
10,000
6,138
309,502
7,095,437

The specific purposes for which the funds are to be applied are as follows:

CISWO: funds provided for the refurbishment of the Miners Hall roof.

NLHF Redhills Revealed: capital development programme for the renewal of Durham Miners' Hall.

DMA Partnership Funds: funding support for the delivery of the Redhills Revealed programme.

Durham County Council: funds for delivery of the Redhills Revealed capital programme.

UCL Community Research Network: developing research programmes and activities exploring heritage and identity in the former coalfield.

Arts Council: funding support for the Redhills Revealed capital project as Redhills CIO is designated as a National Portfolio Organisation (NPO).

Trusts and Foundations: Garfield Weston provided unrestricted funding for the overall Redhills Revealed project.

Page 24

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
10,740,188
Current assets
329,940
Creditors due within one year
(269,494)
Total
10,800,634
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Tangible fixed assets
5,075,063
Current assets
1,920,660
Creditors due within one year
(209,788)
Total
6,785,935		 Restricted
funds
2025
£
-
1,196,458
(1,126,462)
69,996
Restricted
funds
2024
£
-
707,694
(398,192)
309,502		 Total
funds
2025
£
10,740,188
1,526,398
(1,395,956)
10,870,630
Total
funds
2024
£
5,075,063
2,628,354
(607,980)
7,095,437

15. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 2025
£
3,775,193
1,593,375
(144,969)
5,223,599		 2024
£
5,329,840
(2,139,105)
49,823
3,240,558

Page 25

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

16. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
973,062
973,062		 2024
£
481,643
481,643
17.
Analysis of changes in net debt
Cash at bank and in hand
18.
Cash flow from investing activities
Purchase of tangible fixed assets		 At 1 April
2024
£
481,643
481,643		 Cash flows
£
491,419
491,419
2025
£
(4,732,180)
(4,732,180)		 At 31 March
2025
£
973,062
973,062
2024
£
(2,990,766)
(2,990,766)		 At 31 March
2025
£
973,062
973,062
2024
£
(2,990,766)
(2,990,766)
(2,990,766)

19. Contingent liabilities

Redhills CIO is in receipt of a grant from the National Lottery Heritage Fund. The grant is secured upon the building owned by the charity and is subject to restrictions and potential claw back should the use of the property not meet the grant conditions, for a period of 20 years.

20. Capital commitments

2025 2024
£ £
Contracted for but not provided in these financial statements
Purchase, construction or development of property 2,016,035 6,849,316

Page 26

Docusign Envelope ID: 55ACE964-1833-4A1B-A9D9-443448DCC4D9

Redhills CIO

Notes to the financial statements Year ended 31 March 2025

21. Related party transactions

Durham Minors Association (DMA), of which Stephen Guy was Chairman, provided income totalling £nil (2024: £1,500,000) in aid of the Redhills Revealed capital project underway.

Page 27