## **CHARITY REGISTRATION NUMBER: 1197866 COMPANY NUMBER: CE028734** 

**St Michael's Centre Partnership Byker Trustees’ Annual Report & Financial Statements** 

## **31 March 2025** 

## **STEPHENSON COATES AUDIT LIMITED** 

Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD 



## **St Michael's Centre Partnership Byker** 

## **Financial Statements** 

## **Year ended 31 March 2025** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Auditor’s report to the Trustees|**5**|
|Statement of financial activities (incorporating the income and expenditure||
|account)|**9**|
|Balance Sheet|**10**|
|Statement of Cash Flows|**11**|
|Notes to the financial statements|**12**|





**St Michael's Centre Partnership Byker** 

## **Trustees' Annual Report** 

## **Year ended 31 March 2025** 

The trustees present their report for St Michael's Centre Partnership Byker (“the charity”) and the audited financial statements of the charity for the year ended 31 March 2025. 

## **Reference and administrative details** 

|**Registered charity name**|St Michael's Centre Partnership Byker|St Michael's Centre Partnership Byker|
|---|---|---|
|**Charity registration number**|1197866||
|**Company number**|CE028734||
|**Other names**|The Lighthouse Project (Working name)||
|**Principal office**|Saint Michael’s Mount||
||Newcastle upon Tyne||
||NE6 2FT||
|**The trustees**|Rev Philip James Anthony Medley||
||Simon Campbell||
||Nigel Jamie Martin||
||Simon Christopher Ross||
||Mark Russell||
||Stacey Davidson||
||Mark Squires||
||Isabella May McDonald-Booth||
||David Topacho||
||Rev John Ernest Sadler||
||Rev Helen Barbara Gill|Resigned November 2024|
|**Independent auditors**|Stephenson Coates Audit Limited||
||West 2, Asama Court||
||Newcastle Business Park||
||Newcastle upon Tyne||
||NE4 7YD||
|**Solicitors**|Ward Hadaway||
||Sandgate House||
||102 Quayside||
||Newcastle upon Tyne||
||NE1 3DX||
|**Bankers**|Natwest||
||4 Bridge Street||
||Morpeth||
||Northumberland||
||NE61 1NG||



**- 1 -** 



**St Michael's Centre Partnership Byker** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **Structure, governance and management** 

## Governing document and membership: 

St Michael's Centre Partnership Byker is a Charitable Incorporated Organisation (CIO) established on 10 February 2022, governed by its constitution. The Charity Registration number is 1197866. 

## Appointment and retirement of Trustees: 

The Charity currently has ten trustees. Recruitment of trustees is undertaken by the trustees as the need arises in order to ensure that charity trustees collectively have the necessary skills, knowledge and experience for the effective administration of the CIO. New trustees are briefed on the powers and responsibilities of the trustees and are provided with a copy of the charity’s current constitution. They are also briefed on the objectives of the charity and the recent financial performance of the charity. 

## Organisation 

The charity is managed by the trustees, who meet at least quarterly, or more frequently if the need arises. The number of trustees may not be less than seven and is subject to a maximum of 12. The quorum for the transaction of business is one third of the trustees or two trustees, whichever is greater. Day to day operations are headed by the Chief Executive. 

## Risk management 

The trustees have carried out a risk assessment to identify the major governance, financial, operational and compliance risks which the charity faces and this is reviewed each year. Procedures have been established to enable the trustees to monitor and mitigate those risks. 

## **Objectives and activities including Achievements and performance** 

The objectives of the CIO are: 

a) to further or benefit the residents of Newcastle upon Tyne, in particular the east end of the city, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time in occupation with the objective of improving the conditions of life for the residents in accordance with the teaching of the Christian Church; in furtherance of these objects but not otherwise, the trustees shall have the power 

b) to establish or secure the establishment of a youth and community centre and to maintain and to manage such as a centre for activities promoted by the charity in furtherance of the above objects. 

The Lighthouse project has a vision to build a new Youth and Community Hub on the site of St Michael’s Church in Byker. It will provide safe and welcoming spaces where young people and the community can flourish and live life to its fullest. We will also support the valuable work of our partner organisations, working with young people across Byker with purpose-built, flexible spaces for them to deliver their programmes alongside our aim of a wide variety of free to access activities and events for young people. The design of the building and site, in keeping with our vision, will offer both spaces that are adaptable to the general needs of the community and youth work providers but also spaces that are shaped by young people themselves, offering a home from home where they know they will be supported and valued. 

In the financial year 24/25 we continued to make great progress in our aim to develop St Michael’s Church Building and site into a world class youth and community hub, ‘The Lighthouse’, supporting and working with the young people of Byker. Over the course of the year the site has been transformed. The existing church building has been renovated into a flexible and aspirational space with underfloor and renewable heating. We have erected a new state of the art annex building joined to the front of the historic building and a new self contained MUGA pitch. We have also considerably relandscaped the site into an attractive and functional space for the community encapsulating a forest school and amphitheatre. We are grateful to our architects Bradley McClure and our contractors Eden London UK Ltd who we have worked closely with to ensure that all aspects of the construction and renovation were to a high quality and specification, and kept to budget. There were delays during the build mainly due to the existing roof of the building needing to be replaced which was an unexpected cost . By the end of the financial year work was still ongoing, but we were making great progress towards our opening events and activities planned for the summer of 2025. 

**- 2 -** 



**St Michael's Centre Partnership Byker** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **Objectives and activities including Achievements and performance (continued)** 

After a successful recruitment campaign the Charity was able to employ two further full time staff: A Centre Manager and Youth work Coordinator. While the building was under development these staff were able to go out and connect with the local community in Byker and we continued to forge strong relationships with Local Schools, the Local authority, the public sector and other Charities. We carried out a number of successful Youth Voice events in the community where young people were invited to have their say in what they would like to see at the Lighthouse. This culminated with the appointment of our first ever Youth Council that supports and advises our ongoing work.  By the end of the financial year we already had a weekly programme ready to go for the Lighthouse organised by our staff and other partner organisations offering a wide number of activities and opportunities for young people in the area. We have developed robust safeguarding procedures and a membership system to ensure that the Lighthouse can be easily accessed by families and young people in the community upon its opening. 

The Trustees have continued to monitor our financial situation carefully. A Trustees Finance group has met regularly across the year and our financial systems and processes have been helped enormously by the appointment of P&P Finance who manage our accounts and pay roll. We have also worked closely with our main funder, The Youth Investment Fund (managed by the Social Investment board) to ensure that the conditions of the grant have been met and systems followed. 

In addition a fundraising and proposition Trustees group has met regularly to support ongoing fundraising needs. This was primarily focussed in 24/25 on meeting any unforeseen capital expenditure such as the roof, items and furniture in the building not funded by the Youth Investment Fund, and ongoing revenue once the build was completed. We have been absolutely delighted by the response that we have had to the project and the number of financial pledges, many of them long-term, that we have received from local businesses, Trusts and Grant making bodies. Going into 25/26 we know there are challenges in maintaining the momentum we have and ensuring that we can continue to make the Lighthouse available to the community well into the future. We have already made great progress in terms of funding, and have been encouraged by the way that the Lighthouse is seen regionally as an excellent model of how to do local regeneration and engagement work in a deprived community. 

We are hugely thankful to all of our funders, among them are:  The Youth Investment Fund, The Lord Crewe Trust, The Squires Foundation, the Benefact Trust, The William Leech Charity, Northumberland Villages Home Trust, Winns Solicitors, British Engines, Ringtons Ltd, the Bernard Sunley Foundation and the Ballinger Trust. We are also grateful to Ben Roman, our Chief Executive, for guiding the Charity and supporting us through all the progress we have made. We have a strong team of Trustees that provides a wealth of experience and gifts but we continue to look for ways we can strengthen the board as the Charity develops and grows. 

## **Going Concern** 

The trustees have reviewed its cash flow forecasts and there is a reasonable expectation that it has adequate resources to continue in operational existence for at least the next twelve months and on this basis the charity is considered to be a going concern. 

## **Financial review and reserves policy** 

During the period to 31 March 2025, total income received by the charity was £4,420,712 (£834,555, of which £3,591,783 (2024: £684,555) was restricted income and £828,929 (2024: £150,000) was unrestricted income. Total expenditure for the period ended 31 March 2025 was £184,589 (2024: £112,410) resulting in a net income position at the year end of £4,236,123 (2024: £722,145). 

Unrestricted reserves at 31 March 2025 was £949,049 (2024: £147,516) and restricted reserves was £4,051,238 (2024: £616,648), giving an overall funds position for the charity at 31 March 2025 of £5,000,287 (2024: £764,164). 

The Charity has a reserve policy in place with the aim to maintain unrestricted reserves equivalent to a minimum of 9 months operating expenditure, following completion of the construction project. For the first year of operations (25/26) the objective is to build towards this level of reserves by the end of the financial year, with in year unrestricted reserves to be a minimum of 3 months Operating expenditure with forecasts demonstrating that this is on course. 

**- 3 -** 



**St Michael's Centre Partnership Byker** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **Statement of Trustees’ Responsibilities** 

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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- Select suitable accounting policies and then apply consistently; 

- Observe the methods and principles in the Charities SORP; 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for maintaining proper accounting records that 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 charity’s governing document. 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. 

## **Statement as to disclosures to our auditors** 

In so far as the trustees are aware: 

- There is no relevant audit information of which the CIO’s auditors are unaware; and 

- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

The trustees' annual report was approved on 28 January 2026 and signed on behalf of the board of trustees by: 

## _Mark Squires_ 

signed on 30/01/2026, 14:07:15 GMT 

Mark Squires Trustee, Chair 

**- 4 -** 



**St Michael's Centre Partnership Byker** 

## **Independent Auditor’s Report to the Trustees** 

## **of St Michael’s Centre Partnership Byker** 

## **Opinion** 

We have audited the financial statements of St Michael’s Centre Partnership Byker (‘the charity/CIO’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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: 

• give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended; 

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

• have been prepared in accordance with the requirements of the Charities Act 2011 _._ 

## **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 Auditor’s 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 UK, including the FRC’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 CIO’s ability to continue as a going concern for a period of at least 12 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. 

## **Other information** 

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s 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. 

**- 5 -** 



**St Michael's Centre Partnership Byker** 

## **Independent Auditor’s Report to the Trustees of St Michael’s Centre Partnership Byker** 

## **Other information** _**(continued)**_ 

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** 

In the light of the knowledge and understanding of the CIO and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

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

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## **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. 

## **Auditor’s 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 auditor’s 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. 

**- 6 -** 



**St Michael's Centre Partnership Byker** 

## **Independent Auditor’s Report to the Trustees of St Michael’s Centre Partnership Byker** 

## **Auditor’s responsibilities for the audit of the financial statements** _**(continued)**_ 

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. 

Based on our understanding of the CIO, discussions with trustees who are those charged with governance, we considered that the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Charities SORP (FRS 102), the Charities Act 2011 and UK taxation legislation. 

As part of the engagement team discussion about the susceptibility of the Charity’s financial statements to material misstatement due to fraud, we did not identify any areas with an increased risk. 

Our audit procedures were designed to respond to identified risks, including non-compliance with laws and regulations and fraud, which may have a material effect on the financial statements. Our audit procedures included but were not limited to: 

- enquiry of the trustees and review of any relevant correspondence with legal advisers regarding any instances of non-compliance with laws and regulations and any actual, suspected or alleged fraud; 

- communicating identified laws and regulations and the risks of fraud with our engagement team and remaining alert to any indications of non-compliance or fraud; 

- gaining an understanding of the internal controls established to mitigate risks related to fraud; 

- examining supporting documents for all material balances, transactions and disclosures; 

- review of the minutes of the board of trustees; 

- review of accounting estimates for trustee override and bias; 

- analytical procedures to identify any unusual transactions; 

- identifying and testing journal entries. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). 

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance. 

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 auditor’s report. 

**- 7 -** 



**St Michael's Centre Partnership Byker** 

## **Independent Auditor’s Report to the Trustees of St Michael’s Centre Partnership Byker** 

## **Use of our report** 

This report is made solely to the CIO’s trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s 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 CIO’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


**Stephenson Coates Audit Limited West 2, Asama Court Chartered Accountants and Statutory Auditor Newcastle Business Park Newcastle upon Tyne NE4 7YD 28 January 2026** 

Stephenson Coates Audit Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

**- 8 -** 



## **St Michael's Centre Partnership Byker** 

## **Statement of Financial Activities (incorporating the income and expenditure account)** 

|**Unrestricted**<br>**funds**<br> <br>**Note**<br>**£**<br>**Income and endowments**<br>Donations, gifts and grants<br>**4**<br>828,929<br>**Total income**<br>828,929<br> <br>**Expenditure**<br>Expenditure on charitable activities<br>**5, 6**<br>19,021<br>**Total expenditure**<br>19,021<br>**Net income**<br>809,908<br>**Transfer between funds**<br>(8,375)<br>**Net movement in funds**<br>801,533<br>**Reconciliation of funds**<br>Total funds brought forward<br>147,516<br>**Total funds carried forward**<br>**13**<br>949,049|**2025**<br>**Restricted**<br>**funds**<br>**£**<br>3,591,783 <br> <br>3,591,783 <br> <br>165,568<br> <br>165,568<br> <br>3,426,215<br>8,375<br>3,434,590<br>616,648<br>4,051,238|**2025**<br>**Restricted**<br>**funds**<br>**£**<br>3,591,783 <br> <br>3,591,783 <br> <br>165,568<br> <br>165,568<br> <br>3,426,215<br>8,375<br>3,434,590<br>616,648<br>4,051,238|**Total**<br>**funds**<br>**£**<br> 4,420,712 <br> 4,420,712<br> <br>184,589<br>184,589<br> 4,236,123<br>-<br>4,236,123<br>764,164<br> 5,000,287|**2024**<br>**Total**<br>**funds**<br>**£**<br>834,555|
|---|---|---|---|---|
|||||<br>834,555|
|||||112,410|
|||||112,410|
|||||722,145<br>-<br>722,145<br>42,019|
||||||
|||||764,164|



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 12 - 18 form part of these financial statements.** 

**- 9 -** 



## **St Michael's Centre Partnership Byker** 

## **Balance Sheet** 

## **31 March 2025** 

|**Note**<br>**Fixed assets**<br>**10**<br>**Current assets**<br>Debtors<br>Cash at bank and in hand<br>**Creditors: amounts falling due**<br>**within one year**<br>**11**<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Net assets**<br>**Funds of the charity**<br>Unrestricted funds<br>Restricted funds<br>**Total charity funds**<br>**13,**<br>**14**|**2025**<br>**£**<br> <br> <br>75,666<br>523,459<br>599,125<br>(54,052)|**£**<br>4,455,214<br>545,073<br>5,000,287<br>5,000,287<br>949,049<br>4,051,238<br>5,000,287|**2024**<br>**£**<br>-<br>545,592<br>545,592<br>(385,062)|<br>**£**<br>603,634<br>160,530|
|---|---|---|---|---|
|||||764,164|
|||||764,164|
|||||147,516<br>616,648<br>764,164|



These financial statements were approved by the board of trustees and authorised for issue on 28 January 2026, and are signed on behalf of the board by: 

## _Mark Squires_ 

signed on 30/01/2026, 14:07:15 GMT 

Mark Squires Trustee, Chair 

**The notes on pages 12 - 18 form part of these financial statements.** 

**- 10 -** 



## **St Michael's Centre Partnership Byker** 

## **Statement of Cash Flows** 

## **31 March 2025** 

|**Note**<br>**Cash flows from operating activities:**<br>**Net cash provided by operating activities**<br>**15**<br>**Cash flow from investing activities:**<br>Payments to acquire tangible fixed assets<br>**Net cash flow from investing activities**<br>**Net increase in cash and cash equivalents**<br>**Cash and cash equivalents at 1 April 2024**<br>**Cash and cash equivalents at 31 March 2025**<br>**16**|**2025**<br>**£**<br>3,829,447<br>(3,851,580)<br>(3,851,580)<br>(22,133)<br>545,592<br>523,459|**2024**<br>**£**<br>1,104,521<br>(603,634)|
|---|---|---|
|||(603,634)<br>500,888<br>44,704|
|||545,592|



**The notes on pages 12 - 18 form part of these financial statements.** 

**- 11 -** 



**St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2025** 

## **1. General information** 

The charity is a registered charity in England and Wales and is a charitable incorporated organisation (charity number 1197866, company number CE028734). The address of the principal office is Saint Michael’s Mount, Newcastle upon Tyne, NE6 2FT. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. St Michael's Centre Partnership Byker meets the definition of a public benefit entity under FRS 102. 

## **Going concern** 

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees are confident that the charity has sufficient working capital to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. Therefore, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no key sources of estimation uncertainty to report that have a significant risk of causing a material adjustment to the financial statements. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor. 

**- 12 -** 



**St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **Fixed assets** 

Fixed assets are stated at their historic cost. No provision for depreciation or consideration of impairment has been made as the capital assets involved were not in use at the balance sheet date. 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, and is classified under headings of the statement of financial activities to which it relates: 

- Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

**- 13 -** 



**St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

## **Voluntary assistance** 

Time is expended on the charity’s activities and governance which is donated free of charge. It is impractical to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements. 

## **4. Donations and grants** 

|**Grants**<br>Newcastle Diocese Board of Finance<br>The Squires Foundation<br>Social Investment Business Grant<br>Listed Places of Worship Grant Scheme<br>Benefact Trust<br>British Engines (UK) Limited<br>Winn Solicitors<br>Other donors|100,000<br>100,000<br>-<br>476,232<br>100,000<br>50,000<br>-<br>2,697<br>828,929<br>Unrestricted<br>Funds<br>£|<br>-<br>100,000<br>150,000<br> <br>-<br>100,000<br>-<br> <br>3,579,783<br>3,579,783<br>684,555<br> <br>-<br>476,232<br>-<br> <br>-<br>100,000<br>-<br> <br>-<br>50,000<br>-<br>12,000<br>12,000<br>-<br>-<br>2,697<br>-<br>3,591,783<br> 4,420,712<br>834,555<br>Restricted<br>Funds<br>**Total Funds**<br>**2025**<br>**Total Funds**<br>**2024**<br>£<br>**£**<br>**£**|<br>-<br>100,000<br>150,000<br> <br>-<br>100,000<br>-<br> <br>3,579,783<br>3,579,783<br>684,555<br> <br>-<br>476,232<br>-<br> <br>-<br>100,000<br>-<br> <br>-<br>50,000<br>-<br>12,000<br>12,000<br>-<br>-<br>2,697<br>-<br>3,591,783<br> 4,420,712<br>834,555<br>Restricted<br>Funds<br>**Total Funds**<br>**2025**<br>**Total Funds**<br>**2024**<br>£<br>**£**<br>**£**|
|---|---|---|---|
||||834,555|



## **5. Expenditure on charitable activities by fund type** 

|Advertising & Promotion<br>Bank fees<br>Consultancy<br>Entertaining<br>Events Expenditure<br>Insurance<br>IT Software and Consumables<br>Miscellaneous Expenses<br>Office equipment<br>Staff costs<br>Printing & Stationery<br>Professional fees<br>Staff training<br>Telephone<br>Travel & subsistence<br>Website costs|Unrestricted<br>Funds<br>£<br>-<br>-<br>-<br>1,528<br>2,464<br>138<br>85<br>1,992<br>-<br>-<br>-<br>12,548<br>-<br>-<br>266<br>-<br>19,021|Restricted<br>Funds<br>£<br> <br>312<br> <br>322<br> <br>-<br> <br>-<br> <br>10<br> <br>1,968<br> <br>769<br> <br>417<br> <br>2,228<br> <br>111,549<br> <br>333<br> <br>28,932<br> <br>1,146<br> <br>528<br> <br>9,435<br>7,619<br> <br> <br>165,568|**Total**<br>**Funds**<br>**2025**<br>**£**<br>312<br>322<br>-<br>1,528<br>2,474<br>2,106<br>854<br>2,409<br>2,228<br>111,549<br>333<br>41,480<br>1,146<br>528<br>9,701<br>7,619<br>184,589|**Total**<br>**Funds**<br>**2024**<br>**£**<br> <br>3,084<br> <br>-<br> <br>749<br> <br>-<br> <br>-<br> <br>413<br> <br>-<br> <br>-<br> <br>-<br> <br>62,388<br> <br>-<br> <br>35,820<br> <br>-<br> <br>-<br> <br>9,956<br> <br>-|
|---|---|---|---|---|
|||||<br>112,410|



**- 14 -** 



## **St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **6. Expenditure on charitable activities by activity type** 

|Activities<br>undertaken<br>directly<br>Support<br>costs<br>**Total**<br>**funds**<br>**2025**<br>£<br>£<br>**£**<br>Advertising & Promotion<br>312<br>**-**<br>312<br>Bank fees<br>-<br>322<br>322<br>Consultancy<br>-<br>-<br>-<br>Entertaining<br>-<br>1,528<br>1,528<br>Events Expenditure<br>2,474<br>-<br>2,474<br>Insurance<br>-<br>2,106<br>2,106<br>IT Software and Consumables<br>-<br>854<br>854<br>Miscellaneous Expenses<br>2,409<br>-<br>2,409<br>Office equipment<br>2,228<br>-<br>2,228<br>Staff costs<br>111,549<br>-<br>111,549<br>Printing & Stationery<br>333<br>-<br>333<br>Professional fees<br>21,992<br>19,488<br>41,480<br>Staff training<br>1,146<br>-<br>1,146<br>Telephone<br>-<br>528<br>528<br>Travel & subsistence<br>9,701<br>-<br>9,701<br>Website costs<br>-<br>7,619<br>7,619<br>152,144<br>32,445<br>184,589<br>**Net incoming resources are stated after charging:**<br>**2025**<br>**£**<br>_Fees payable to the Auditor for:_<br>Preparation of financial statements<br>2,500<br>Audit of the financial statements<br>5,300<br>_Fees payable to the independent examiner for:_<br>Independent examination and preparation of the financial statements<br>-<br>**Staff costs**<br>The total staff costs and employee benefits for the reporting period are analysed as follows:<br>**2025**<br>**£**<br>Wages and salaries<br>102,792<br>Social security costs<br>6,465<br>Employer contributions to pension plans<br>2,292<br>111,549|**Total**<br>**funds**<br>**2024**<br>**£**<br>3,084<br>-<br>749<br>-<br>-<br>413<br>-<br>-<br>-<br>62,388<br>-<br>35,820<br>-<br>-<br>9,956<br>-|
|---|---|
||112,410|
||**2024**<br>**£**<br>-<br>-|
||1,620|
||**2024**<br>**£**<br>59,157<br>1,910<br>1,321|
||62,388|



## **7. Net incoming resources are stated after charging:** 

## **8. Staff costs** 

The average head count of employees during the year was 3 (2024: 1). 

One employee received employee benefits of more than £60,000 during the year. 

**- 15 -** 



**St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **9. Trustee remuneration and expenses** 

The trustees are considered to be the Key management personnel of the charity. No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. During the year £Nil (2024: £nil) was reimbursed to trustees for expenses relating to travel, accommodation and subsistence. 

## **10. Fixed assets** 

|**Leasehold**<br>**property –**<br>**Assets under**<br>**construction**<br>**£**<br>**Cost**<br>At 1 April 2024<br>603,634<br>Additions<br>3,828,120<br>Disposals<br>-<br>At 31 March 2025<br>4,431,754<br>**Depreciation**<br>At 1 April 2024<br>-<br>Charge for year<br>-<br>Disposals<br>-<br>At 31 March 2025<br>-<br>**Net book value**<br>At 31 March 2025<br>4,431,754<br>At 31 March 2024<br>603,634<br>**11.** **Creditors:** **amounts falling due within one year**<br>Trade creditors<br>Other creditors<br>Accruals and deferred income|**Computer**<br>**equipment**<br>-<br>23,460<br>-<br>23,460<br>-<br>-<br>- <br>- <br>23,460<br>-<br>**2025**<br>**£**<br>20,420<br>3,694<br>29,938<br>54,052||**Total**<br>**£**<br>603,634<br>3,851,580<br>-|
|---|---|---|---|
||||4,455,214|
||||-<br>-<br>-|
||||-|
||||4,455,214|
||||603,634|
||||**2024**<br>**£**<br>5,634<br>-<br>379,428|
||||385,062|



## **12. Pensions and other post-retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,292 (2024: £1,321). 

**- 16 -** 



## **St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **13. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|General funds<br>Designated funds<br>**Restricted funds**<br>Social Investment Business Grant<br>Winn Solicitors<br>**Total charitable funds**|At 1 April<br>2024<br>£<br>1,963<br>145,553<br>147,516<br>616,648<br>-<br>616,648<br>764,164<br>|Income<br>£<br>728,929<br>100,000<br>828,929<br>3,579,783<br>12,000<br>3,591,783<br>4,420,712|Expenditure<br>£<br>(2,464)<br>(16,557)<br>(19,021)<br> <br>(165,568)<br> <br>(-)<br> <br>(165,568)<br>(184,589)|Transfer<br>£<br>-<br>(8,375)<br> <br>(8,375)<br>8,375<br>- <br> <br>8,375<br> <br> <br>-|**At**<br>**31 March**<br>**2025**<br>**£**<br>728,428<br>220,621|
||||||949,049|
||||||4,039,238<br>12,000|
||||||4,051,238|
||||||5,000,287|



## **Restricted funds** 

General funds are available to be spent for any use of the Charity. 

The designated fund is a grant from the Newcastle Diocesan Board of Finance which is designated for the construction of a Youth Hub within the Lighthouse Project. 

The Social Investment Business Grant is restricted for the construction and establishment of a building to house a youth and community hub attached to St Michael’s Church in Byker, Newcastle upon Tyne. 

The Winn Solicitors restricted fund is for the fit out of kitchen and arts spaces. 

## **Analysis of charitable funds – previous year** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|General funds<br>Designated funds<br>**Restricted funds**<br>Social Investment Business Grant<br>**Total charitable funds**|At 1 April<br>2023<br>£<br>574<br>41,445<br>42,019<br>–<br>-<br>42,019|Income<br>£<br>-<br>150,000<br>150,000<br>684,555<br>684,555<br> <br>834,555<br>|Expenditure<br>£<br>1,389<br>(45,892)<br>(44,503)<br> <br>(67,907)<br> <br>(67,907)<br>(112,410)|Transfer<br>£<br>-<br>- <br> <br>-<br> <br>- <br> <br>**-**<br> <br> <br> <br>-<br>|**At**<br>**31 March**<br>**2024**<br>**£**<br>1,963<br>145,553|
||||||147,516|
||||||616,648<br> <br>616,648<br>764,164|



**- 17 -** 



**St Michael's Centre Partnership Byker** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2025** 

## **14. Analysis of net assets between funds** 

|Analysis of net assets between funds –<br>Fixed assets<br>Current assets<br>Creditors less than 1 year<br>**Net assets**<br>Fixed assets<br>Current assets<br>Creditors less than 1 year<br>**Net assets**|previous period<br>Unrestricted<br>Funds<br>£<br>4,473<br>145,743<br>(2,700)<br>147,516<br>Unrestricted<br>Funds<br>£<br>546,838<br>428,179<br>(25,968)<br>949,049|Restricted<br>Funds<br>£<br>599,161<br>399,849<br>(382,362)<br>616,648<br>Restricted<br>Funds<br> <br>£<br>3,908,376<br>170,946<br>(28,084)<br>4,051,238|**Total**<br>**Funds**<br>**2024**<br>**£**<br>603,634<br>545,592<br>(385,062)<br>764,164<br>**Total Funds**<br>**2025**<br> <br>**£**<br>4,455,214<br>599,125<br>(54,052)<br>5,000,287|**Total Funds**<br>**2024**<br>**£**<br>603,634<br>545,592<br>(385,062)|
|---|---|---|---|---|
|||||764,164|
||||||



## **15. Reconciliation of net income to net cash flow from operating activities** 

|**Net income for the reporting period**<br>Adjustments for:<br>(Increase) in debtors<br>(Decrease)/Increase in creditors<br>**Net cash provided by operating activities**<br>**16.** **Analysis of cash and cash equivalents**<br>Cash at bank and in hand<br>**Total cash and cash equivalents**|**2025**<br>**£**<br>4,236,123<br>(75,666)<br>(331,010)<br>3,829,447<br>**2025**<br>**£**<br>523,459<br>523,459|**2024**<br>**£**<br>722,145<br>-<br>382,377|
|---|---|---|
|||1,104,521|
|||**2024**<br>**£**<br>545,592|
|||545,592|



## **17. Related party transactions** 

During the year £100,000 (2024: £nil) was received from the Squires Foundation, a charity of which Mark Squires is also a trustee. There are no other related party transactions to report. 

## **18. Capital commitments** 

At 31 March 2025 the charity was contractually committed to tangible fixed asset costs of £522,565. 

**- 18 -** 



```
Signatures' technical details
```

## **`Signatures`** 

```
mark@stebbacapital.co.uk
```

```
30/01/2026, 14:07:15 GMT
```

## **`Fingerprint`** 

```
b5598bf401a5799c90956b82f4f645bb926761a0
```

## **`Event log`** 

```
10.50.10.16130/01/2026, 13:55:30 GMT
Signing request created.
System30/01/2026, 13:55:33 GMT
Notification sent to mark@stebbacapital.co.uk.
System30/01/2026, 14:06:05 GMT
Signing page opened by signee mark@stebbacapital.co.uk.
System30/01/2026, 14:06:15 GMT
Signing page opened by signee mark@stebbacapital.co.uk.
System30/01/2026, 14:07:15 GMT
Signee mark@stebbacapital.co.uk signed document.
System30/01/2026, 14:07:15 GMT
Signing process completed.
```

## **`Summary`** 

```
Envelope's ID:bf00kk19
Document's hash:8a449b749e346a98ecb1358cc18363762f5f5890186eb3ae645c3bdf46c63b75
Final stamp:30/01/2026, 14:07:18 GMT
```



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