ROCKET COMMUNITY FOUNDATION
REPORT AND FINANCIAL STATEMENTS For the year ended 31.12.2024
Charity Number 1195281
ROCKET COMMUNITY FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31.12.2024
| Contents | Page |
|---|---|
| Trustees annual report | 1 to 6 |
| Independent examiners report | 7 |
| Statement of Financial Activities (including | 8 |
| income and expenditure account) | |
| Balance sheet | 9 |
| Notes to the financial statements | 10 to 16 |
ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 31 December 2024.
The financial statements comply with the Charities Act 2022, the Memorandum and Articles of Association, and 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 October 2019)
1. Objectives and Activities
Aims of the Charity
For the benefit of the public generally and, in particular, the inhabitants of Tyne and Wear and Northumberland and their surrounding areas, the objects of the charity are:
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To advance the education of children and young people through participation in sport and healthy recreation to provide opportunities for them to develop their full capacities.
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To provide and assist in providing facilities for the playing of sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances (in particular children and young people) or for the benefit of the public at large in the interests of social welfare and with the object of improving their health, wellbeing and conditions of life;
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The promotion of such other charitable purposes as may from time to time be determined by the trustees as being in fulfilment of the charity’s objects.
Objectives, strategies and activities for the year
The objective for year is to:
- Commence holiday activities at the pavilion by making use of the playing fields and hall and also start to hire out the hall to the local community.
The strategy:
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To target funding requirements for holiday activities
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Provide a space for the community.
The Activities:
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Provide facilities for the Cramlington Rockets Rugby Club.
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Provide facilities to the local community to use for differing activities.
2. Public Benefit Statement
Our mission is to provide a facility suitable to educate children and young people through participation in sport and healthy recreation. And provide a local amenity for use by the local community.
Our commitment to delivering public benefit is at the core of our objects and our mission for 2024 is to allow the local community to use the refurbished pavilion with modern facilities for all sorts of activities.
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ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
3. Policy on Grant Making
We currently do not provide grants.
4. Policy on Social Investment
The trustees know the importance of providing a facility for the local community where it can be used to strengthen people’s skills and capacities and support them to participate fully in employment and social life by allowing training, social gatherings and providing new businesses with a place to use.
5. Contribution by Volunteers
The Foundation benefits significantly from voluntary work in the organisation of meetings and management of fundraising. All trustees are voluntary and provide expertise in their own field.
6. Achievements and Performance
Evaluation and outputs
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a. Fully funded 840 spaces for children and young people in Northumberland to access activities, a hot meal and peer support
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b. Hiring of the facility to local organisations
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c. The facility was fully refurbished and handed back to the Foundation in July.
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d. A new postcode was applied for from the Post Office.
7.Fundraising
To meet the objective of the year, a number of charities had provided pledges (providing grant) to allow the Trustees to redevelop the pavilion. on the recently leased land.
As we had received the Rugby League World Cup grant of £175,000, the Trustees had shown pledges for £135,000. (Total development cost of £310,000). A number of the approached charities released their pledge, and these were received in the financial period:
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a. Cramlington Eats (£4,500)
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b. Northumberland County Council- Community Chest (£2,000)
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c. Northumberland County Council- Community Chest (£1,514.34)
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d. Hospital of God (£1,000)
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e. HAF[Holiday Activities and Food] (£1,840)
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f. Postcode Lottery (£20,000)
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g. Cramlington Town Council (£900)
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h. Access Sport (£500)
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i. Morrisons Foundation (£2,887)
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j. HAF (£7,035)
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k. R.W.Mann (£1,000)
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l. Masonic Lodge (£1,000)
Total received in the year was £40,176 .
8. Investments
None
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ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
9. Financial review
Review of the year
The financial review is for 12 months from 01 Jan 2024 to 31 Dec 2024.
The results for the financial period and the charity's financial position at the end of the year are shown in the attached financial statements.
During the financial period, the Charity had income of £58,179 (2023: £335,008) of which £0 was designated (2023: £323,000) and expenditure of £59,623 (2023: £19,596) of which £28,519 was designated (2023: £6,319). There was an operating deficit of £1,444 (2023: surplus of £315,412) of which a deficit of £28,519 was designated (2023: a surplus of £316,681).
At 31 Dec 2024, the Charity had net assets of £387,014 (2023: £388,458) of which £342,790 was designated (2023: £371,309).
Reserves policy/Going concern
The Trustees consider the level of assets, £44,224 (2023: £17,149), prudent for the Charity at this time taking into account potential liabilities in the event that the charity ceased. Our Reserves Policy is reviewed annually.
10. Risk Management
The trustees have a robust risk management framework and controls for the management of risks. The risk register is reviewed on a continuing basis by Trustees. Risk management is an integral part of the Foundation’s business process.
The prime risk to which the Foundation is exposed is financial in nature, particularly in respect to a loan from William Leech Trust which was received in the previous financial year. The Trustees have indicated a low risk for repayment as income will be generated from the refurbished facility.
11. Plans for future periods
With the pavilion now fully refurbished in the year, the Trustee plan for 2025 is to develop People Development Centre to support local school pupils.
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ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
12. Reference and administrative details of the charity, its trustees and advisors
Registered charity name ROCKETS COMMUNITY FOUNDATION
Charity number 1195281
Registered office 34 Princes Road Newcastle upon Tyne NE3 5AN
Trustees and Members of the Board
Jeff Ball (Chair) Rob Phillips Karen Clark Douglas Kay John Downes
Chief Executive and Senior staff members Steven Beaty
Independent Examiner Doug Maltman FMAAT Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne. NE1 4BX.
Bankers Barclays Bank
13. Fund held as custodian trustees on behalf of others
The Trustees have no custodian trustees or hold property on behalf of another charity.
14. Exemptions from disclosures
The Trustees hold no information that should not be disclosed and therefore there are no exemptions from disclosures.
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ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
15. Structure, governance and management
Reference and administrative details of the charity, its trustees are shown in section 12.
Governing Document
The Trustees are governed by the Foundation’s constitution.
Recruitment and Appointment of the Board
There have been no new appointments in the year.
Board Induction and Training
New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:
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A briefing by the Chair
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An explanation of roles and responsibilities as a Board Member
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Copies of the main charity documents including the Memorandum and Articles of Association and the Financial Statements
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Copy of the business plan and most recent evaluation report
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Copies of recent board papers including budgets and management accounts
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A copy of the Charity Commission publication "How to be an Effective Trustee"
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A copy of the governance structure.
16. Related parties
The Trustees have no relationship with related parties and other charities with which it cooperates in the pursuit of its charitable objectives.
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ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT For the year ended 31 December 2024
17. Statement of Trustee Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity SORP 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 charity and of incoming resources and application of resources, including the receipts and payments of the charity for that year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently.
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observe the methods and principles in the Charities SORP.
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make judgements and estimates that are reasonable and prudent.
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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 the Trustees on 14.08.2025 and signed on their behalf by:
Jeff Ball Chair
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ROCKET COMMUNITY FOUNDATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
For the year ended 31.12.2024
I report on the financial statements of Rocket Community Foundation for the year ended 31.12.2024, which are set out on pages 8 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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h examine the accounts under section 145 of the Charities Act,
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h to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
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h to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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h the accounting records were not kept in accordance with section 130 of the Charities Act; or
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h the accounts did not accord with the accounting records; or
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h the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Doug Maltman FMAAT Fellow member of the Association of Accountancy Technicians Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne NE1 4BX Date: 15.08.2025
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ROCKET COMMUNITY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31.12.2024
----- Start of picture text -----
Unrestricted Designated Total Total
Funds Funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 6 5,188 - 5,188 7,665
Charitable activities
Grants and contracts 7 44,076 - 44,076 324,100
Other trading activities 8 8,915 - 8,915 3,243
Total income 58,179 - 58,179 335,008
Expenditure on:
Charitable activities
Operation of the charity 9 31,104 28,519 59,623 19,596
Total expenditure 31,104 28,519 59,623 19,596
Net movement of funds 27,075 ( 28,519 ) ( 1,444 ) 315,412
Reconciliation of funds
Total funds brought forward 17,149 371,309 388,458 73,046
Total funds carried forward 44,224 342,790 387,014 388,458
Notes
----- End of picture text -----
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 10 to 16 form an integral part of these accounts.
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Charity Number 1195281
ROCKET COMMUNITY FOUNDATION
BALANCE SHEET
As at 31.12.2024
| Fixed assets Tangible assets 15 Total fixed assets Current assets Debtors 16 Cash at bank and in hand 17 Total current assets Creditors:amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors:amounts falling due after more than one year 19 Total net assets or liabilities Funds of the charity Unrestricted income funds Designated income funds Total funds Notes |
£ 699 22,908 23,607 ( 11,636 ) ( 44,000 ) |
Total 2024 £ 419,043 419,043 11,971 431,014 ( 44,000 ) 387,014 44,224 342,790 387,014 |
£ 13,750 18,674 32,424 ( 10,076 ) ( 49,500 ) |
Total 2023 £ 415,610 415,610 22,348 437,958 ( 49,500 ) 338,958 17,149 371,309 388,458 |
|---|---|---|---|---|
The notes on pages 10 to 16 form an integral part of these accounts.
These financial statements were approved by the Board on: 14.08.2025 and are signed on its behalf by: Jeff Ball Chair
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
2 Basis of accounting
2.1 Basis of preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 (FRS 102) (effective October 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2022.
Rocket Community Foundation meets the definition of a public benefit entity under FRS 102.
2.2 Preparation of the accounts on a going concern basis
The charity reported total unrestricted funds at the year end of £44,224 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.
3 Income
3.1 Recognition of income
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
3.2 Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
3.3 Grants and donations
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
3.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
3.5 Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the
4 Expenditure and liabilities
4.1 Liability recognition
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
4.2 Charitable activities
Expenditure on charitable activities includes the costs of work and other activities undertaken to further the purposes of the charity and their associated support costs.
4.3 Governance and support costs
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
4.4 Irrecoverable VAT
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
4.5 Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
4.6 Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
5 Assets
5.1 Tangible fixed assets for use by the charity
Individual fixed assets costing are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis.
Refurbishment and Development Fixtures and fittings
Straight line over life of lease Straight line over four years
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
Analysis of income
| 6 7 8 |
Donations and legacies Charitable activities Income from grants Wellbank Foundation Other trading activities Café takings Interest earned Camp donations Northumberland County Council Masonic Lodge Virgin Money Lottery Fund Reece Group Brewin Dolphin The William Leech Charity Cramlington Town centre Northumbria Police Room hire Freemasons of Northumberland Other R W Mann Access Sport Morrisons Foundation Hospital of God Postcode Lottery HAF Easter camp 2024 HAF - Summer multi sport camps Cramlimgton Eats Donations and gifts |
Unrestricted Funds £ 410 4,778 5,188 - - 3,514 - - - - 4,500 - - 500 1,840 7,035 1,000 20,000 800 2,887 1,000 1,000 44,076 4,806 2,093 442 1,574 8,915 |
Designated Funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Total 2024 £ 410 4,778 5,188 - - 3,514 - - - - 4,500 - - 500 1,840 7,035 1,000 20,000 800 2,887 1,000 1,000 44,076 4,806 2,093 442 1,574 8,915 |
Total 2023 £ 7,665 - 7,665 5,000 10,000 - 275,000 10,000 1,100 10,000 7,500 5,000 500 - - - - - - - - - 324,100 2,748 400 95 - 3,243 |
|---|---|---|---|---|---|
Income was £58,179 (2023: £335,008) of which £0 was designated (2023: £323,000).
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
Analysis of expenditure on charitable activities
| 9 | Charitable activities Support costs Governance costs Depreciation Coaching Independent examiner's fees for reporting on the accounts Repairs and renewals Other expenses Bank charges Insurance Eastfield staff costs Premises costs IT costs Catering Bad debts written off |
Unrestricted Funds £ 11,105 6,394 267 159 494 645 4,582 1,058 3,004 2,721 636 39 31,104 |
Designated Funds £ - - - - - 28,519 - - - - - - 28,519 |
Total 2024 £ 11,105 6,394 267 159 494 29,164 4,582 1,058 3,004 2,721 636 39 59,623 |
Total 2023 £ 9,600 603 45 150 1,719 6,954 - - - - 516 9 19,596 |
|---|---|---|---|---|---|
Expenditure on charitable activities was £59,623 (2023: £19,596) of which £28,519 was designated (2023: £6,319).
10 Fees for examination of the accounts
| There were no other fees paid to the examiner. Independent examiner's fees for reporting on the accounts |
2024 £ 636 636 |
2023 £ 516 516 |
|---|---|---|
11 Analysis of staff costs and the cost of key management personnel
| Contracted staff | 2024 £ 11,105 11,105 |
2023 £ 9,600 9,600 |
|---|---|---|
The key management personnel of the charity, comprise the trustees. The total employee benefits of the key management personnel of the charity were £0.
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
12 Staff numbers
The charity does not employ staff but instead uses the services of contractors.
13 Transactions with trustees
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
Trustees' expenses
No trustee expenses have been incurred in the year.
Transaction(s) with related parties
There have been no related party transactions in the reporting period.
14 Corporation Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
| Refurbishment and 15 Tangible fixed assets Development £ Cost Balance brought forward 424,515 Additions 32,515 Disposals - Balance carried forward 457,030 Depreciation Basis SL Rate 15 years Balance brought forward 10,191 Depreciation charge for year 28,519 Disposals - Balance carried forward 38,710 Net book value Brought forward 414,324 Carried forward 418,320 |
Fixture, fittings and equipment £ 2,542 82 - 2,624 SL 25% 1,256 645 - 1,901 1,286 723 |
Total £ 427,057 32,597 - 459,654 11,447 29,164 - 40,611 415,610 419,043 |
|---|---|---|
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
16 Debtors and prepayments (receivable within 1 year)
| 17 Cash at bank and in hand 18 19 Cash at bank and in hand Creditors and accruals (payable after more than 1 year) Long Term Loan Other debtors Accruals Loan Independent examination of accounts Other creditors Creditors and accruals (payable within 1 year) |
2024 £ 699 699 2024 £ 22,908 22,908 2024 £ 636 11,000 - 11,636 2024 £ 44,000 44,000 |
2023 £ 13,750 13,750 2023 £ 18,674 18,674 2023 £ 516 5,500 4,060 10,076 2023 £ 49,500 49,500 |
|---|---|---|
20 Events after the end of the reporting period
No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
21 Analysis of charitable funds
Analysis of movements in unrestricted funds For the year ended 31 12.2024
| Unrestricted funds General unrestricted fund Designated funds Refurbishment Totals |
Fund balances brought forward £ 17,149 371,309 388,458 |
Incoming resources £ 58,179 - 58,179 |
Resources expended £ ( 31,104 ) ( 28,519 ) ( 59,623 ) |
Transfers £ - - - |
Fund balances carried forward £ 44,224 342,790 387,014 |
|---|---|---|---|---|---|
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ROCKET COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31.12.2024
Purpose of unrestricted funds
General unrestricted fund The 'free reserves' of the charity Designated funds: Refurbishment Refurbishment and development funds to cover costs.
22 Capital commitments
As at 31.12.2024, the charity had no capital commitments.
23 Analysis of net assets between funds
| Tangible fixed assets Other net current assets/(liabilities) Cash at bank and in hand |
Unrestricted Funds £ 419,043 ( 319,882 ) ( 54,937 ) 44,224 |
Designated Funds £ - 342,790 - 342,790 |
Total 2024 £ 419,043 22,908 ( 54,937 ) 387,014 |
Total 2023 £ 415,610 18,674 ( 45,826 ) 388,458 |
|---|---|---|---|---|
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