The Hub at Westhoughton Charfty No. 1195149 Company No. CE025346 Trustees, Report and Unaudlted Accounts 31 March 2024 The Hub at Westhoughton Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Aetivities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts 7toll Detailed Statement of Financial Activities 12to13 Page I The Hub at Westhou8hton Trustees Annual Report The Hub at Westhoughton The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the urbaudited financial Statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. CE025346 Charity No. 1195149 Reglstered Offlce Central Drive Westhoughton BL5 3DS Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: D.A. Chadwick K. Millington L. Monks L. Traynor L.J. Walton A.M. Watters Key Management Personnel Chair Lynne Traynor Accountants ADC Accountants Limited 15 Market Street Standish Wigan Lancs WN6 OHW The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the flnancial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detettion of fraud and other irregularities. The above report has been prepared in accordance with the provisionsapplicable to companie5 Subject to the sm311 companies regime as set out in Part 15 of the Companies Act 20[￿ and in accordanee with the Charities SORP IFRS 1021. Signed on behalf of the board Page 2 The Hub at Westhoughton Trustees Annual Report L. Traynor Trustee 04 April 2025 Page 3 The Hub at Westhoughton Independent Examiners Report Independent Examiner's Report to the trustees ol The Hub at Westhoughton I report to the charity trustees on my examination of the financial statements of The Hub at Westhoughton for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the fin3nti31 statements in accordance with the requirements of the Companies Act 2(K>61'the 2006 Act. Having satisfied myself that the financial ststements 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 financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Direction5 given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe- accounting records were not kept in atcordance with section 386 of the 2006 Act: or • the financial Statements do not accord with those records- or • the finantial statements Ilo not comply with the accounting requirements under sertion 396 of the 2006 Art other than any requirement that the financial statements give a'true and fair, view which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principle5 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 IFRS 1021. I have no concerns and have come acr055 no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the financial 5tatementS to be reached. ACIC Accountants Limited 15 Market Street Standish Wigan Lancs WN6 OHW 04 April 2025 Page 4 The Hub at Westhoughton Statement of Financial Activities for the year ended 31 March 2024 Unrestricted funds Total fund5 Total funds 2024 2023 2024 Notes Income and endowments from: Grants and Donations Other trading activities 53.558 139.237 53,558 139,237 Total 192,795 192,795 Expenditure on: Charitable activities Other 19,370 151.703 19,370 151.703 Total 171.073 171.073 Net gains on investments Net income 21,722 21.722 Transfers between funds Net income before other galns/llossesl 21.722 21,722 Other gains and losses Net movement in fund5 21.722 21,722 Reconciliation of lunds: Total funds brought forward 5.825 5,825 5,825 Total funds carried forward 27,547 27,547 5,825 Page 5 The Hub at Westhoughton Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 192.795 Gross Income for the year Expenditure 192.795 171.073 Total expenditure for the year Net income before tax for the year 171,073 21,722 Net income for the year 21.722 Page 6 The Hub at Westhoughton Balance Sheet at 31 March 2024 Company No. CE025346 Notes 2024 2023 Current assets Debtors Cash at bank and in hand 260 28.(K)7 28.267 17201 27.547 5,825 5,825 Creditor5: Amount falling due within one year Net current assets 5,825 Total assets less current liabilities 27,547 5,825 Net assets excluding pension asset or liability 27.547 5,825 Total net assets 27.547 5,825 The funds of the fharlty Restrl¢ted fund$ Unrestrlcted funds General funds io io 27.547 5,825 27.547 5,825 Reserves io Total funds 27.547 5,825 These accounts have been prepared in accordan￿ with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Acl 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilitie5 for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 04 April 2025 And signed on its behalf by: A.M. Watters Trustee 04 April 2025 Page 7 The Hub at Westhoughton Notes to the A¢¢ounts for the year ended 31 March 2024 l Accounting policies Basis of prèparatlon The financial statements have been prepared in accordance with 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 IFRS 1021 leffective I January 20151 Icharities SORP IFRS 1021}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change In basls of a¢countlng or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a rev31uation reserve representing the restatement of investment assets at their marketvalues. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to. and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and Voluntary income received by way of grants. donations and @ifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonabty quantifiable. measurable and material. leBacies and facilities Volunteer help The value of any voluntèer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. a55ets G2ins/llosses1 on investment assets This includes any gain or loss on the sale of investments. Page 8 The Hub at Westhoughton Note5 to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which It relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activitie5 and charitable activities services in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure is accounted for on an artual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees. costs linked to the strategic management of the Charity, together with 3 share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Freehold investment propertv Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are Tecognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are retognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any tfade discounts due. Cash and cash equtvalents Cash and cash equivalents comprise cash at bank and on hand. dernand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial p051tion, bank overdrafts are Shown within borrowings or current liabilities. In the Statement of Cash Flow5. cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlemenl amount after allowing for any trade discounts due. Page 9 The Hub at Westhoughton Notes to the Accounts Research and development Expenditure on research and development 15 written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the fvnctional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net incomelexpenditure. Leased assets Where the charity enters into a lease which entai15 taking 5ub5tantially all the risks and rewards of ownership of an asset, the lease 15 treated as a finance lease. Leases which do not trarisfer substantially 811 the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets ofthe charity at their fair value at the inception of the lease or. if lower, at the present value of the minirnum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation 50 as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unle55 they are directly attributable to qualifyinE assets, in which case they are capitali5ed in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for tts employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment5 obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are thown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Recelpt of donated goods, facilities and service5 All donated goods, facilitie5 and services received are recognised within incoming resource5 and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 10 The Hub at Westhou8hton Notes to the Accounts 3 Income from donatlons and legacies Unrestiirted Total Total 2024 2023 Grants and Donations 53,558 53.558 53.558 53,558 4 In¢ome from other trading activities Vnrestricted Total Total 2024 2023 Income 126,825 12,412 139,237 126,825 12,412 139,237 Cafe Income 5 Expenditure on Charitsble activities Unrestrlrted Total Total 2023 2024 Expenditure on choritcble uctivities Cafe Purchases 19,370 19,370 19.370 19,370 6 Other expendlture Unrestrlcted Total Total 2023 2024 Employee costs Motor and travel costs 113,667 626 113,667 626 General administrative costs 34,041 3,369 151,703 34.041 3,369 151,703 Legal and professional costs 7 Staff costs 2024 2023 Salaries and wages 113,271 113,271 No employee received emoluments in excess of £60,000. 8 Debtors 2024 2023 Other debtors 260 260 Page 11 The Hub at Westhoughton Notes to the Accounts 9 Creditors: amounts falling due within one year 2024 2023 Accrua15 720 720 10 Movement Infunds Incoming resources At31 Ilncluding other At l Apiil 8alns/losses 2023 Resources March 2024 expended Restrl¢ted funds: Unrestrl¢ted funds: General tunds 5.825 192,795 1171.0731 27,547 Total funds 5.825 192,795 1171.0731 27,547 11 Analysis of net assets between funds Unrestrlcted funds Total Net current assets 27,547 27,547 27,547 27,547 12 Reconciliation of net debt At31 March 2024 At l Aprll 2023 Cash flows Cash and cash equivalents 5,825 5,82S 22,182 22,182 28,007 28,007 Net debt 5.825 22,182 28,007 13 Related party disclosures Controlllng purty The company is limited by guarantee and ha5 no share capital,. thus no single party controls the company. Page 12 The Hub at Westhoughton Detailed Statement of Financial Activities for the year ended 31 March 2024 Vnreslricted funds Total funds Totsl funds 2024 2024 2023 Income and endowmentsfrom: Donations and legacies Grants and Donations 53.558 53.558 53,558 53,558 Other trading activitie5 Income 126.825 12.412 139.237 126,825 12,412 139,237 Cafe Income Total income and endowments 192.795 192,795 Expendlture on: Charitable activities Cafe Purchases 19.370 19,370 19,370 19,370 Total of expenditure on Charitable activities 19.370 19,370 Employee costs Salarieslwages Staff training 113.271 396 113.271 396 113,667 113.667 Motor and travel cost5 Travel and sub51Stence 626 626 626 626 General administrative costs, including depreciation and amortisation MeetinE expenses Bank charges Garden expenses Equipment leasing and hire charges Equipment repairs and maintenance Repairs and renewals General insurances 569 569 383 383 4.(K>O 4,OCKJ 3.505 3,505 3.807 3,807 4.373 1.465 526 4.373 1,465 526 10,093 1,344 1,027 2.949 34,041 Advertising Stationery and printing Subscription5 Sundry expenses Telephone, fax and broadband 10.093 1,344 1,027 2.949 Page 13 The Hub at Westhoughton Detailed Statement of Financial Activities Legal and professional costs Accountancy and bookkeeping Other legal and professional costs 720 720 2,649 3,369 2.649 3.369 Total of expenditure of other costs Total expenditure Net gains on investments 151.703 151,703 171.073 171,073 Net income 21.722 21,722 Net income before other 8alnsl{lossesl Other Galns 21.722 21,722 Net movement in funds 21.722 21,722 Reconciliation of funds: Total funds brought forward 5.825 5,825 5,825 Total funds ¢arrled lonvard 27.547 27,547 5,825 Page 14 THE HUB AT WESTHOUGHTON IREGISTERED NUMBER= 1195149} REPORT OF THE TRUSTEES for the Year Ended 31 March 2024. The trustees present their report and financial statements for the year ended 31st March 2024. The financial statements have been prepared in accordance with the aicounting policies set out in note I to the financial statemenls and comply with the charity'5 governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accour)ts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND ACTIVITIES OBJECTIVES OF THE CHARITY The charity's purposes are to benefit the residents of Westhoughton and the neighbourhood of Westhoughton by: Bringing together these residents with local authority. voluntary and other organisations in a common effort to advance health/wellbeing social isolation. Providing 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. Continuous improvement in the quality of service by regular evaluation and investment in the professional development of staff and volunteers. Providing a secure, well established 5eNice for the future. All activities are undertaken to further our charitable purpose5 for public benefit. The Trustees have had due regard to the Charity Commission's guidance on public benefit when planning and delivering 5ervice5 at The Hub 3t Westhoughton. As can be seen from the Trustee's report, activities and developments at the Centre are guided by the wishes and needs of the service users, working in Collaboration with partners to ensure our service networks effectively with the statutory and voluntary sector. ACHIEVEMENT AND PERFORMANCE Charitable activitie5 COMMUNITY CAFÉ. The Hubway Café.. As well as providing facilities within The Hub at Westhoughton. we continue to provide mea15 to people who attend regular activities and a warm space offer during the colder months, targetting lonely and isolated residents. Every year we have our free Christmas lunch and this is always a massive success. This will be repeated annually. Every year we hold a community Christmas market. We a150 hold a wide range of activities at The Hub. Community Payback= We have sessions on a Thursday and we ensure that all attendees fully complete their food hygiene courses. The trustees are very grateful to the external funders, who suppletnent the income generated by the hard working team of staff and volunteers. This year we have not male any significant individual funding applications but have been 'self-5UStaining'. We note how difficult it can be to'get it right, but we try to price our services at a cost which allow5 US to pay our bills whilst keeping everything affordable, having a number of areas of deprivation within the town. We now offer a wide range of activities within the centre and have over 40 groups delivering to ￿ sidents. Reserves policy The trustees have established a policy whereby the free reserves held by the charity should be at a level sufficient to cover up to three month5 running costs. This has been achieved in this period and will be reviewed eath year in order to reflect any change in circum5tance5 or commitments. FUTURE PLANS- We are a growing charity and management team have designed plans for the charity going forward into 2024-2025- we believe that the management team have brought new idea5 to the table which can only enhance the service that The Hub provides. It was our ultimate aim to have the centre open from 9..00am till 9pm throughout the week, we have now not onty achieved thi5 but succeeded, with most the building being full on a number of days/nights- our footfall is now averagir)g 20(K)+ people a week which is IO% of the population of the town. We have achieved this with the help of existing staff and volunteers (to whom we remain very gratefull and the recruitment of new trustees and volunteers. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitutional policies. It is still our intention to secure the building asset from Bolton MBC, but this is a lengthy process. however, progress has been made in relation to key meetings with the council on expectations and needs of the charity. The charity is governed by the trustees, who meet 4 times per year and occasional Special general meetings as and when needed. The Board have delegated operational management of The Hub to the Management team, monitoring activity at the quarterly management board committee meetings. GOVERNANCE AND MANAGEMENT Induction and training of new trustees Recruitment of trustees - the Board is mindful of the overall mix of skills and experience in recruiting new trustees. Interest is normally Eenerated through contacts and candidates are interviewed by at least two existing trustees following formal application.