## **Trustees’ Annual Report**
## **for the period**
**From 01/07/23 ( period start date) to 30/06/24 (period end date)**
**Charity name: Chapel St Creative CIO Charity registration number: 1199383**
_“Victory in 'rollercoaster' three year battle to save Penzance community hub” Cornwall Live 23 July 2023 Image “©” Chapel St Creative CIO_
## **Objectives and Activities**
||SORP
reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The purpose of Chapel St Creative CIO, as set
out in the governing document, is to further or
benefit the residents of Penzance and the
neighbourhood, 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|
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|||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.
In furtherance of these objects but not
otherwise, the trustees shall have power:
To establish or secure the establishment of a
community centre and to maintain or manage or
co-operate with any statutory authority in the
maintenance and management of such a centre
for activities promoted by the charity in
furtherance of the above objects.|
|---|---|---|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17
and 1.19|Securing the ownership of Centenary Hall,
Chapel St, Penzance TR18 4AW, a key initial
objective of the Charity, was achieved on 29
Feb 2024, 8 months into the reporting period.
Prior to the purchase the Charity was focussed
on project management activities including
negotiations with the seller and funders,
preparation of specifications for refurbishment
works and completion of due diligence activities
through professional advisors.
On completion of the purchase the emphasis
switched to delivery of refurbishment projects
and day-to-day operation of Centenary Hall.
The CIO also started developing project plans
for improvements to the facilities.
For the record, Centenary Hall, a Grade II listed
building, was registered as an ‘Asset of
Community Value’ under the Localism Act 2011
by Cornwall Council in 2022 following
nomination by Penzance Council in response to
a petition by community users of the Hall. The
registration acknowledged the Hall’s continuous
usage as a community venue over previous
decades. The Hall was purchased for the
purpose of community use in perpetuity. The
purchase was undertaken under the Right to
Bid provisions of the Localism Act 2011. The
CIO funded the purchase of Centenary Hall
from a Government Community Ownership
Fund grant (approx. 50%), Penzance Council
grant (approx. 25%) and public fundraising
(approx. 25%). The purchase price was
£300,000 plus £16,452 towards the cost of
separating utilities from the adjacent Methodist
Church. The Architectural Heritage Fund (AHF)
grant funding covered the cost of professional
fees associated with the purchase. The AHF
also grant funded development of project plans
for future improvements to Centenary Hall.|
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The refurbishment activities delivered during the period were: • Separation of gas and electricity services from the adjacent Church. • Urgent upgrades to electrical distribution boxes. • Restoration of first floor windows including specialist re-leading of damaged stain glass panes, • Repairs to the roof and re-pointing of stonework. • Energy efficiency improvements involving replacement old fluorescent light strips with high efficiency LED batons and new electric water heating. A seamless transfer of community usage was achieved on 29 Feb 2024. The CIO was responsible for operating Centenary Hall for the last four months of the reporting period (1 Mar – 30 Jun 24). Regular and ad hoc hire users contributed to successful operation of the Hall. Centenary Hall has hosted the following regular community activity providers during the reporting period: **The Big Dance Company** . The dance company delivers regular dance classes 4 days a week after school hours to approximately 200 young people between the ages of 3 and 25 years. The dance company also delivers wellbeing and fitness sessions for adults of all ages and abilities. Additional workshops throughout the year are delivered and run by guest teachers from elsewhere in the UK and overseas. The dance company attracted private sector sponsorship to improve access from low-income households. **Ignite You CIC.** Ignite You CIC provided regular, weekly, group and 1-1 dance and wellbeing activities to young people and adults with additional needs. **Lunar Agile Learning CIC** . Lunar Agile Learning CIC started delivering services two full days a week in November 2023. They serve children and teenagers. Lunar Agile Learning offers an alternative education provision for home-educated children & teenagers who need opportunities to socialize and learn in a school-like environment they trust. Most of the children are unable to attend mainstream school for a
3 of 13
|||variety of reasons including varying degrees
of neuro-divergency.
**Sundance Community Dance Group.**
Sundance provides community dance and
fitness opportunities for the over 50s age
group. They deliver a weekly session in
Centenary Hall.
**Shallal**. Shallal is a Cornwall-based arts
charity that promotes inclusive arts and
celebrates diversity, ability and community.
It delivered sessions in Centenary Hall
during the school holiday periods. It plans to
deliver a more regular service from the Hall
once a wheelchair accessible toilet is made
available. The CIO had an application
outstanding with the National Lottery for
funding of an accessible toilet and other
improvements at year end (Note: £19,495
approved in Nov 2024 - after the end of this
reporting period).
**Little Fishes Toddler Group.**The toddler
group operates one morning per week and
provides an affordable and safe space for
parents and their children to meet, learn and
play. The Group is run for by volunteers from
the adjacent Chapel Street Methodist
Church.
**Ad Hoc Bookings**. The CIO took ad hoc
booking from Minack Theatre performance
groups (rehearsals), a local orchestra
(rehearsals), Chapel Street Music
(rehearsals), local popular music group
rehearsals, detached youth work sessions
and tabletop sales.
|
|---|---|---|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees have given regard to the guidance
issued by the Charity Commission on public
benefit, referring to the charities purposes and
objects at regular meetings and ensuring that
the activities carried out at the community
centre are in line and in accordance to them, for
which the main objectives are to purchase and
maintain a building for the provision of a
community space. The trustees are satisfied
that these have been met.|
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## **Additional information (optional)**
You may choose to include further statements where relevant about:
||SORP
reference||
|---|---|---|
|Policy on grant making|Para 1.38|Not applicable.|
|Policy on social investment
including program related
investment|Para 1.38|Not applicable.|
|Contribution made by
volunteers|Para 1.38|The CIO received valuable support from
volunteers over the reporting period.
Volunteers provided support with
bookkeeping/accounts, bid and report writing,
project management and labour in support of
refurbishment projects. This has been
estimated at 305 hrs with a notional value of
£5,215. See Financial Review for financial
evaluation of volunteer effort.
Volunteer support received by the CIO is only a
fraction of the volunteer support delivered in
Centenary Hall most of which goes to help
activity providers. The Big Dance Company
has its own charitable friends’ organization. The
CIO indirectly facilitates volunteer participation
by enabling the activity providers to deliver
community activities in Penzance in affordable
facilities.|
|Other|||
## **Achievements and Performance**
||SORP
reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|The charities main achievements have been:
a. Completion of the purchase of Centenary
Hall for community use in perpetuity.
b. Completion of urgent refurbishment tasks
including restoration of the Hall’s iconic 1st
floor stain glass windows.
c. Installation of energy efficiency measures to
reduce running costs and reduce the Hall’s
carbon footprint.|
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d. Achievement of a seamless operational transition on change of ownership of Centenary Hall with no inconvenience to users of the Hall. e. Broadening of Hall usage and inclusivity through the services delivered by Lunar Agile Learning CIC (recruited by the CIO in advance of completion of the purchase of Centenary Hall). f. Increase in Hall usage by new activity providers. g. Increase is usage by The Big Dance Company following closure of the Falmouth outlet and removal of previous restrictions on Hall use on Sundays. The change of ownership has inspired volunteers and empowered activity providers by giving them confidence of a secure venue with empathetic management. Activity providers using the Hall make a major contribution to the community. Activities allow participants to socialise, make new friends, improve wellbeing, improve fitness and learn new skills. Children involved in dancing classes learn the benefits of self-disciple and teamwork in learning skills leading to increased selfconfidence and self-esteem. Some activities provide a respite for parents and families. The Hall contributes to an overall improved quality of life for its users.
## **Additional information (optional)** You may choose to include further statements where relevant about:
|
Achievements against
objectives set|
Para 1.41|
The CIO has achieved it objective of securing
Centenary Hall for continued community use.
The CIO has supported community activity
providers and aided an increase in the delivery
of community services.
The CIO has expanded inclusivity (Lunar Agile
Learning).
The CIO plans to improve accessibility.
Centenary Hall lacks wheelchair accessible
toilets and wheelchair access to the Main Hall
on the first floor (stair lift only available). The
CIO’s plans to improve accessibility were under
development during the reporting period. A
funding application to the National Lottery to|
|---|---|---|
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|||fund a wheelchair accessible toilet was
outstanding at year end. (Listed building
consent granted by the Local Planning Authority
after year end. National Lottery grant awarded
after year end).|
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41|CIO had achieved its objective of funding the
purchase of Centenary Hall in the previous
reporting period. No new fundraising target was
set. The focus of the CIO was completion of
the purchase of the Hall, completion of urgent
repairs/upgrades and successful operation of
the Hall (trading).|
|Investment performance
against objectives|Para 1.41|Not applicable.|
|Other|||
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## **Financial Review**
|Review of the charity’s
financial position at the end
of the period|Para 1.21|The 2023-24 reporting year was exceptional
because it included £279,933 in grant funding to
enable the purchase of Centenary Hall and the
completion of urgent repairs.
The CIO started the year flush (£67,900) with
the proceeds of crowd funding for the purchase
of Centenary Hall transferred to the newly
created CIO in the previous year.
The CIO ended the year as owners of
Centenary Hall (asset value £316,452) with
cash reserves of £5,351 and loan liability of
£26,531 term remaining 5 years 10 months).
The loan was raised from a previous donor at a
low interest rate (3%) to allow the CIO to match
fund grant funding from the Government (50%
match funding required).
The CIO’s turnover exceptionally exceeded
£250,000 requiring adoption of accruals
accounting and a statutory requirement for
Independent Examination. ) are summarized in
the tables below
**Income:**
**Source**
**£**
Donations (grants)
279,933
Donations (other)
1,000
Hire income
10,173
Church utility use charge
1,516
Other income
£611
**Income total**
**293,233**
**Expenditure:**
**Purpose**
**£**
Hall purchase
300,000
Utility separation works
16,452
Purchase related costs
4,734
Operating costs
10,050
Refurbishment works
38,749
Future project plans
10,040
Loan repayments
757
**Payments total**
**380,782**
Net income (deficit) - £62,549
The excess of payments over receipts
(£62,549) results from the CIO honouring its
obligation to other funders to contribute
approximately 25% of the cost of purchasing
Centenary Hall. The CIO ended the year with a
cash balance of £5,351.|
|---|---|---|
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|||The CIO’s net current assets under the accruals
accounting regime was £810 refllecting the
impact of monthly loan repayments falling due
in the next 12 months
The CIO’s net worth on 30 Jun 24 was
£295,315.
Whilst not part of the formal accounts, the CIO
received valuable support from volunteers over
the reporting period. This is valued in notional
terms below:
Activity
Hrs
£
Bookkeeping /accts.
@ £20/hr
55
1,100
Project management.
@ £20/hr
60
1,200
Bid/report writing.
@ £20/hr
25
500
Project labour.
£11.50/hr
210
2,415
Totals
350
£5,215
The CIO’s long term financial objective is to
grow hire income through an increased
occupancy rate and a diversification of activities
delivered in the Hall. This financial objective is
aligned with the CIO’s charitable objective of
reaching a wider cross section of the local
community. Plans to create a performance
space in the Main Hall with pull down seating
for 100 people, stage lighting and sound are
under development aided during the reporting
period by AHF grant fundings.
The CIO is also looking to reduce energy costs
which are a major expense given the size of
Centenary Hall and its thermally inefficient
construction. Listed building consent for a
substantial solar photovoltaic installation with
battery storage is being applied for (listing
building consent approved after year end on 21
Mar 2025 with conditions).|
|---|---|---|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The CIO aims to maintain a general reserve
fund (unrestricted funds) equal to 3 months
operating costs or between £5000 - £7000. In
simple terms this means immediately available
cash at bank. This level of reserves allows for
variability in utility costs, the probability of
unplanned maintenance arisings, variability in
hire income and day-to-day ‘working capital’
needs.
The level of general (operating) reserve funds is
subject to future review by the Trustees as, at|
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|||year end, the CIO had less than four months
operating cost data given billing in arrears by
utility providers.
The general reserve is separate from any
earmarked reserve that Trustees might
establish to support a specific project.|
|---|---|---|
|Amount of reserves held|Para 1.22|£5,351|
|Reasons for holding zero
reserves|Para 1.22|N/A|
|Details of fund materially in
deficit|Para 1.24|N/A|
|Explanation of any
uncertainties about the
charity continuing as a
going concern.|Para 1.23|N/A|
**Additional information (optional)** You may choose to include further statements where relevant about:
||||
|---|---|---|
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Room/hall hire charges|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|N/A|
|A description of the principal
risks facing the charity|Para 1.46|•
Volatility in energy costs
•
Future pandemic risk to letting income.
•
Major unplanned maintenance arisings.
•
Activity provider safeguarding
failure/reputation risk (indirect risk to the
CIO’s reputation)|
|Other|||
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## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing
document
(trust deed, royal charter)|Para 1.25|The trustees are governed by a constitution
adopted from the Charity Commission specifically
for the purpose of owning and operating
community centres and village halls.|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|The Charity is constituted as a Charitable
Incorporated Organization (CIO).|
|Trustee selection methods
including details of any
constitutional provisions
e.g. election to post or
name of any person or
body entitled to appoint
one or more trustees|Para 1.25|**Number of charity trustees.**
There must be at least five charity trustees. If the
number falls below this minimum, the remaining
trustee or trustees may act only to call a meeting
of the charity trustees to appoint a new charity
trustee.
The members of the CIO shall be its charity
trustees for the time being. The only persons
eligible to be members of the CIO are its charity
trustees. Membership of the CIO cannot be
transferred to anyone else. Any member and
charity trustee who ceases to be a charity trustee
automatically ceases to be a member of
the CIO.
**Informal or associate (non-voting)**
**membership**
(1) The charity trustees may create associate
or other classes of non-voting membership, and
may determine the rights and obligations of any
such members (including payment
of membership fees), and the conditions for
admission to, and termination of membership of
any such class of members.
(2) Other references in this constitution to
“members” and “membership” do not apply to
non-voting members, and non-voting members
do not qualify as members for any purpose under
the Charities Acts, General Regulations
or Dissolution Regulations.]|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Policies and procedures|Para 1.51|
|---|---|
|adopted for the induction||
|and training of trustees||
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|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
|---|---|---|
|Relationship with any
related parties|Para 1.51|Penzance Council has a right to appoint 25% of
the CIOs trustees as result of grant funding
25% of the cost of purchasing the freehold of
Centenary Hall.|
|Other|||
## **Reference and Administrative details**
|Charity name|Chapel St Creative CIO|
|---|---|
|Other name the charity uses||
|Registered charitynumber|1199383|
|Charity’s principal address|Centenary Hall
Chapel Street
Penzance
Cornwall
TR18 4AW|
**Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Robert Love||Full Year||
||Rachel Williams||Full Year||
||Benjamin Richardson||Full Year||
||Rebecca Gowers||Full Year||
||Trevor Hocking||Full Year||
||Celeste Osborne||Full Year||
||Thalia Marrington||Full Year|Penzance Council|
||||||
||||||
||||||
– Corporate trustees names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
12 of 13
## **Funds held as custodian trustees on behalf of others**
Description of the assets held in this capacity None Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Benjamin Richardson **Position (eg Secretary,** Secretary (& Trustee) **Chair, etc)**
Rachel Williams Treasurer (& Trustee)
**Date** 27/04/2025
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||**Chapel St. Creative CIO**|**Chapel St. Creative CIO**|**Chapel St. Creative CIO**|Charity No
(if any)|1199383||
|---|---|---|---|---|---|---|
||Annual accounts for theperiod||||||
||Period start date|**01/07/2023**|**To**|~~Period end~~
date|**30/06/2024**||
||||||||
|**Section A**|
**Statement of financial activities**||||||
|**Recommended categories by**
**activity**
Guidance Notes
**Incoming resources (Note 3)**
**Income and endowments from:**
Donations and legacies
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Utilities re-charge (from Chapel St Methodist
Ch)
S05
Solicitor credit (see N1 para 1.5 prior yr error)
S06
S07
**Resources expended (Note 6)**
**Expenditure on:**
Raising funds
S08
Charitable activities
S09
Asset purchase - Centenary Hall & Utility
Works
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
**Extraordinary items**
S16
S17
S18
Loan proceeds (6 yr low interest loan)
S19
S20
**_Reconciliation of funds:_**
S21
S22
**_Total_**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure) before investment**
**gains/(losses)**
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|||||
|||1,000|279,933|-|280,933|72,252|
|||10,173|-|-|10,173|1,300|
|||-|-|-|-|-|
|||-|-||-|-|
|||1,516|-|-|1,516|-|
|||611|-|-|611|-|
|||13,300|279,933|-|293,233|73,552|
||||||||
|||-|-|-|-|814|
|||25,736|38,594|-|64,330|4,838|
|||78,226|238,226|-|316,452||
||||-|-|-|-|
|||103,962|276,820|-|380,782|5,652|
||||||||
|||90,662
-|3,113|-|87,549
-|67,900|
|||-|-|-|-|-|
|||90,662
-|3,113|-|87,549
-|67,900|
|||-|-|-|-|-|
|||3,113|3,113
-|-|-|-|
||||||||
|||-|-|-|-|-|
|||25,000|-|-|25,000|-|
|||62,549
-|-|-|62,549
-|67,900|
||||||||
|||67,900|-|-|67,900|-|
|||5,351|-|-|5,351|67,900|
Following 'Notes to Accounts' not included (not applicable to CIO): N5, N7, N11, N12, N13, N15, N16, N17,N18
## **Section B Balance sheet**
|**Fixed assets**
**Intangible assets (Note 15)**
**Tangible assets (Note 14)**
**Heritage assets (Note 16)**
**Investments (Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks (Note 18)**
**Debtors (Note 19)**
**Investments (Note 17.4)**
**Cash at bank and in hand (Note 24)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 20)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Provisions for liabilities**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds (Note 27)**
**Restricted income funds (Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf of all
the trustees|Guidance Notes
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10
B11
B12
B13
B14
B15
B16
B17
B18
B19
B20
B21|**Unrestricted**
**funds**
**£**
F01|**Restricted**
**income**
**funds**
**£**
F02|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Total last**
**year**
**£**
F05|
|---|---|---|---|---|---|---|
|||-|-|-|-|-|
|||78,226|238,226|-|316,452|-|
|||-|-|-|-|-|
|||-
|-
|-
|-
|-|
|||~~78,226~~|~~238,226~~|~~-~~|~~316,452~~|-|
||||||||
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-
|-
|-
|-
|-|
|||~~5,351~~
|~~-~~
|~~-~~
|~~5,351~~
|-|
|||~~5,351~~|~~-~~|~~-~~|~~5,351~~|-|
||||||||
|||4,541|-|-|4,541|-|
||||||||
|||~~810~~|~~-~~|~~-~~|~~810~~|-|
||||||||
|||~~79,036~~|~~238,226~~|~~**-**~~|~~317,262~~|-|
||||||||
|||21,990|-|-|21,990|-|
|||-|-|-|-|-|
||||||||
|||57,046|238,226|-|295,272|-|
||||||||
|||-|||-|-|
||||-||-|-|
|||5,351||-|5,351|-|
||||||-
||
|||~~5,351~~|~~-~~|~~-~~|~~5,351~~|-|
||||||||
|||Signature||Print Name||Date of
approval
dd/mm/yyyy|
|||||Benjamin Richardson||29/04/2025|
|||||Rachel Williams||29/04/2025|
CC17a (Excel)
30/04/2025
2
## **Section C Notes to the accounts**
## Note 1 **Basis of preparation**
_**This section should be completed by all charities** ._
## **1.1 Basis of accounting**
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:
- the Statement of Recommended Practice: Accounting and Reporting by Charities
- • and with* preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
- • and with* the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
- • and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*
* -Tick as appropriate
## **1.2 Going concern**
_**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_
An explanation as to those factors that support _After 4 months operation of Centenary Hall the CIO is solvent and_ the conclusion that the charity is a going _trading successfully. Over 50% of hire income comes from long_ concern; _term users (10+ year track record of hiring Centenary Hall)_ Disclosure of any uncertainties that make the _**Not applicable**_ going concern assumption doubtful; Where accounts are not prepared on a going _**Not applicable**_ concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.
## **1.3 Change of accounting policy**
|The accounts pr|esent a tru|e and fair view and the accounting policies adopted are those outlined in note { 1.1 }.|
|---|---|---|
|Yes*
No*||* -Tick as appropriate|
||||
## _**Please disclose:**_
|**_Please disclose:_**||
|---|---|
|**_(i) the nature of the change in accounting policy;_**|From R&P to accrual accounting. Underlying policy
unchanged|
|**_(ii) the reasons why applying the new accounting policy_**
**_provides more reliable and more relevant information;_**
**_and_**|Required due to income and expenditure >£250,000|
|**_(iii) the amount of the adjustment for each line affected_**
**_in the current period, each prior period presented and_**
**_the aggregate amount of the adjustment relating to_**
**_periods before those presented, 3.44 FRS 102 SORP._**|**_No material change_**|
## **1.4 Changes to accounting estimates**
|No changes to a|ccounting|estimates have occurred in the reporting period (3.46 FRS 102 SORP).|
|---|---|---|
|Yes*
No*||* -Tick as appropriate|
||||
## _**Please disclose:**_
_**(i) the nature of any changes;**_
_**(ii) the effect of the change on income and expense or assets and liabilities for the current period; and (iii) where practicable, the effect of the change in one or more future periods.**_
## **1.5 Material prior year errors**
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP). Yes* * -Tick as appropriate No*
## _**Please disclose:**_
A credit of £610.94 held by Solicitors’ Paddle and Cocks at the start of the financial year (1 Jul 2023) but not recorded in the CIO's accounts for 2022/23 as a pre- _**(i) the nature of the prior period error;**_ payment. The credit was the residue from an advance of fees of £2500 paid on 14 Dec 2022. The credit was extinguished by Invoice THE0061 2192 for the sum of £1500 (settled by BACS transfer of £889.06 on 26 Oct 23 and use of the £610.94 credit). _**(ii) for each prior period presented in the accounts, the**_ The error only affects the previous year. The effect of the _**amount of the correction for each account line item**_ error was to understate the net worth of the CIO by £611. _**affected; and (iii) the amount of the correction at the beginning of the**_ The error is corrected in the current period under 'other _**earliest prior period presented in the accounts.**_ income' where £611 reflects the missing prepayment/credit from the previous year end.
CC17a (Excel)
30/04/2025
3
## **Section C Notes to the accounts**
## **Note 2 Accounting policies**
_Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable._
## **2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE**
**Please provide a description of the nature of each change in accounting policy**
_**Reconcilation of funds per previous GAAP to funds determined under FRS 102**_ **Start of End of period period £ £ Fund balances as previously stated** _**Adjustments:**_
## **Fund balance as restated**
_**Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102**_ **End of £ Net income/(expenditure) as previously stated** _**Adjustments:**_ **Previous period net income/(expenditure) as restated**
CC17a (Excel)
30/04/2025
4
## **Section C Notes to the accounts (cont)**
## **Note 2 Accounting policies 2.2 INCOME**
_This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below._
|**Recognition of income**
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
**Support costs**
The charity has incurred expenditure on support costs.
**Volunteer help**
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
These are included in the Statement of Financial Activities (SoFA) when:
• the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and
• the monetary value can be measured with sufficient reliability.
**Donated goods**
**Contractual income and**
**performance related**
**grants**
**Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or
permitted by the FRS 102 SORP or FRS 102.
**Grants and donations**
Grants and donations are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP).
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
**Legacies**
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
**Government grants**
The charity has received government grants in the reporting period
**Tax reclaims on donations**
**and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor.
Any Gift Aid amount recovered on a donation is considered to be part of that gift and is
treated as an addition to the same fund as the initial donation unless the donor or the
terms of the appeal have specified otherwise.
Donated services and facilities that are consumed immediately are recognised as income
with an equivalent amount recognised as an expense under the appropriate heading in
the SOFA.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
**Donated services and**
**facilities**
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
**Income from interest,**
**royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
**Income from membership**
**subscriptions**
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.|Yes
No
N/a|Yes
No
N/a|Yes
No
N/a|
|---|---|---|---|
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
||Yes
No
N/a|||
|||||
|**2.4 ASSETS**
250
**Intangible fixed assets**
**Heritage assets**
**Settlement of insurance**
**claims**
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
They are valued at cost.
These are capitalised if they can be used for more than one year, and cost at least
**Redundancy cost**
The charity made no redundancy payments during the reporting period.
**Deferred income**
No material item of deferred income has been included in the accounts.
**Creditors**
The charity has creditors which are measured at settlement amounts less any trade
discounts
**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
**Basic financial**
**instruments**
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 9.5
They are valued at cost.
The charity has heritage assets, that is, non-monetary assets with historic, artistic,
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
**2.3 EXPENDITURE AND LIABILITIES**
**Liability recognition**
Liabilities are recognised where 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.
**Investment gains and**
**losses**
The charity accounts for basic financial instruments on initial recognition as per
paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
**Tangible fixed assets for**
**use by charity**
The depreciation rates and methods used are disclosed in note 9.2.
**Governance and support**
**costs**
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
They are valued at cost.
**Investments**
Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
**Grants with performance**
**conditions**
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
**Grants payable without**
**performance conditions**
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
**Stocks and work in**
**progress**
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value
based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
**Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at
settlement amount after any trade discounts or amount advanced by the charity. Subsequently,
they are measured at the cash or other consideration expected to be received.||Yes
No
N/a|Yes
No
N/a|Yes
No
N/a|
|---|---|---|---|---|
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
|||
|||
|||~~Yes~~
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||250||||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|||Yes
No
N/a|||
||||||
|**POLICIES ADOPTED**
**ADDITIONAL TO OR**
**DIFFERENT FROM**
**THOSE ABOVE**
**Current asset investments**|The charity has has investments which it holds for resale or pending their sale and cash and cash
equivalents with a maturity date less than one year. These include cash on deposit and cash
equivalents with a maturity date of less than one year held for investment purposes rather than to
meet short term cash commitments as they fall due.
They are valued at fair value except where they qualify as basic financial instruments.|Yes
No
N/a
|Yes
No
N/a
|Yes
No
N/a
|
|---|---|---|---|---|
||||||
|||Yes
No
N/a|||
||||||
||||||
||||||
**Section C Notes to the accounts (cont)**
## **Note 3 Analysis of income**
|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
Donations and gifts
1,000 279,933 - 280,933 73,552
Gift Aid
- - - - -
Legacies
- - - - -
General grants provided by government/other
charities
- - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services
- - - - -
Other
- - - -
**Total** 1,000 279,933 - 280,933 73,552
Community hire charges
10,171 - - 10,171 -
Misc (current account loyalty reward)
2 - - 2 -
- - - - -
Other
- - - - -
**Total** 10,173 - - 10,173 -
- - - - -
- - - - -
- - - - -
- - - - -
**Total** - - - - -
Interest income
- - - - -
Dividend income
- - - - -
Rental and leasing income
- - - - -
Other
- - - - -
**Total** - - - - -
Utilities re-charge to Chapel St Methodist
Church (temporary arrangement)
1,516 - - 1,516 -
Unrecognized prepayment (error) from
previous year - see Note 1 (para 1.5 Prior
Year Error))
611 - - 611 -
- - - - -
- - - - -
**Total** 2,127- - 2,127 -
Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
for charity's own use
- - - - -
Gain on disposal of a programme related
investment
- - - - -
Royalties from the exploitation of intellectual
property rights
- - - - -
Other
- - - - -
**Total** - - - - -
13,300 279,933-293,233 73,552
**Other information:**
**Analysis**
**Donations**
**and legacies:**
**Charitable**
**activities:**
**TOTAL INCOME**
**Other:**
**Other trading**
**activities:**
**Income from**
**investments:**
**Separate**
**material item**
**of income:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|
|---|---|---|---|---|---|---|
||Donations and gifts|1,000|279,933|-|280,933|73,552|
||
Gift Aid|-|-|-|-|-|
||Legacies|-|-|-|-|-|
||General grants provided by government/other
charities|-|-|-|-|-|
||Membership subscriptions and sponsorships
which are in substance donations|-|-|-|-||
||Donated goods, facilities and services|-|-|-|-|-|
||Other|-|-|-|-||
||**Total**|1,000|279,933|-|280,933|73,552|
||||||||
||Community hire charges|10,171|-|-|10,171|-|
||Misc (current account loyalty reward)|2|-|-|2|-|
|||-|-|-|-|-|
||Other|-|-|-|-|-|
||**Total**|10,173|-|-|10,173|-|
||||||||
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
||Interest income|-|-|-|-|-|
||Dividend income|-|-|-|-|-|
||Rental and leasing income|-|-|-|-|-|
||
Other|-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
||Utilities re-charge to Chapel St Methodist
Church (temporary arrangement)|1,516|-|-|1,516|-|
||
Unrecognized prepayment (error) from
previous year - see Note 1 (para 1.5 Prior
Year Error))|611|-|-|611|-|
|||-|-|-|-|-|
|||-|-|-|-|-|
||**Total**|2,127|-|-|2,127|-|
||||||||
||Conversion of endowment funds into income|-|-|-|-|-|
||Gain on disposal of a tangible fixed asset held
for charity's own use|
-|-|-|-|-|
||
Gain on disposal of a programme related
investment|-|-|-|-|-|
||Royalties from the exploitation of intellectual
property rights|-|-|-|-|-|
||
Other|-|-|-|-|-|
||**Total**|-|-|-|-|-|
||||||||
|||13,300|279,933|-|293,233|73,552|
||||||||
|**All income in the prior year was unrestricted except for:**
**(please provide description and amounts)**||Yes,no restricted funds.|||||
|**Where any endowment fund is converted into income in the**
**reporting period, please give the reason for the conversion.**
**Where any endowment fund is converted into income in the**
**prior period, please give the reason for the conversion.**|||||||
|||No|||||
||||||||
|||No|||||
||||||||
|**Within the income items above the following items are**
**material: (please disclose the nature, amount and any prior**
**year amounts)**||Donations and Gifts' includes 3 grants linked to purchase of
Centenary Hall, Penzance. Government COF grant of
£177,000, Architectural Heritage Fund grant £22,933 and
Penzance Council grant £80,000. There are no prior year
grants from public funds.|||||
CC17a (Excel)
30/04/2025
58
**Section C Notes to the accounts (cont)**
## **Note 4 Analysis of receipts of government grants**
|**Government grant 1**
**Government grant 2**
**Government grant 3**
**Other**
**Government grant 1**
**Government grant 2**
**Government grant 3**
**Other**
**_Please provide details of any_**
**_unfulfilled conditions and other_**
**_contingencies attaching to grants_**
**_that have been recognised in income._**
**_Please give details of other forms of_**
**_government assistance from which_**
**_the charity has directly benefited._**|**This year**
**£**
**Description**|**This year**
**£**
**Description**|**This year**
**£**
**Description**|
|---|---|---|---|
||Government Community Ownership Fund grant £177,000 comprising
£168,000 toward cost of purchasing Centenary Hall and urgent works
(50% match funding required) and £8000 revenue expenditure.(no
match fundingrequired)||177,000
|
||Architectural Heritage Fund grant of £22,933. Toward professional
fee and costs of purchasing Centenary Hall and development of
futureprojectplans to RIBA 1 level,||22,933|
||Penzance Council (Local Govt) £80,000 contribution toward cost of
purchasing Centenary Hall for public use in perpetuity||80,000|
||||-|
||**Total**
**Description**||279,933|
||||**Last year**
**£**|
||None||-|
||||-|
||||-|
||||-|
||**Total** -
**Thisyear**
**Lastyear**||-|
||None|||
||**Thisyear**
**Lastyear**|||
||Statutory rate relief at 80%|None||
CC17a (Excel)
30/04/2025
59
## **Section C Notes to the accounts (cont)**
## **Note 6 Analysis of expenditure**
|**Analysis**
**Expenditure on raising funds:**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|
|---|---|---|---|---|---|---|---|---|
|Incurred seeking donations|-|-|-|-|-|-|-|-|
|Incurred seeking legacies|-|-|-|-|-|-|-|-|
|Incurred seeking grants|-|-|-|-||||-|
|Operating membership schemes and
social lotteries|-|-|-|-||||-|
|Staging fundraising events|-|-|-|-|272|||272|
|Fudraising agents|-|-|-|-|542|||542|
|Operating charity shops|-|-|-|-||||-|
|Operating a trading company
undertaking non-charitable trading
activity|-|-|-|-||||-|
|Advertising, marketing, direct mail and
publicity|-|-|-|-|-|-|-|-|
|Start up costs incurred in generating
new source of future income|-|-|-|-|-|-|-|-|
|Database development costs|-|-|-|-|-|-|-|-|
|Other trading activities|-|-|-|-||||-|
|Investment management costs:|-|-|-|-||||-|
|Portfolio management costs|-|-|-|-|-|-|-|-|
|Cost of obtaining investment advice|-|-|-|-|-|-|-|-|
|Investment administration costs|-|-|-|-|-|-|-|-|
|Intellectual property licencing costs|-|-|-|-|-|-|-|-|
|Rent collection, property repairs and
maintenance charges|-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
|**Total expenditure on raising funds**|-|-|-|-|814|-|-|814|
|**Expenditure on charitable activities:**|||||||||
|CentenaryHallpurchase - related|469|4,265|-|4,734|4,838|-|-|4,838|
|Operating costs|3,406|6,644|-|10,050|-|-|-|-|
|Refurbishment|20,100|18,649|-|38,749|-|-|-|-|
|Futureprojectplans|1,003|9,037|-|10,040|-|-|-|-|
|Loan interest|757|-|-|757|-|-|-|-|
|**Total expenditure on charitable**
**activities**|25,736|38,595|-|64,330|4,838|-|-|4,838|
|**Separate material item of expense**|||||||||
|Purchase of Asset (Centenary Hall)|78,226|238,226|-|316,452||-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
|**Total**|78,226|238,226|-|316,452|-|-|-|-|
|**Other**|||||||||
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
||-|-|-|-|-|-|-|-|
|**TOTAL EXPENDITURE**
**Total other expenditure**|-|-|-|-|-|-|-|-|
||103,962|276,821|-|380,782|5,652|-|-|5,652|
**Other information:**
**Analysis of expenditure on charitable activities**
CC17a (Excel)
30/04/2025
60
||**Thisyear**|**Thisyear**|**Thisyear**|**Thisyear**|**Lastyear**|**Lastyear**|**Lastyear**|**Lastyear**|
|---|---|---|---|---|---|---|---|---|
|**Activity or programme**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total this**
**year**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total last**
**year**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Activity1|-|-|-|-|-|-|-|-|
|Activity2|-|-|-|-|-|-|-|-|
|Other|-|-|-|-|-|-|-|-|
|**Total**|-|-|-|-|-|-|-|-|
||||||||||
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61
## **Section C Notes to the accounts**
## **Note 8 Funds received as agent**
_**8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.**_
|||**Amount received**|**Amount received**|**Amountpaid out**|**Amountpaid out**|**Balance held atperiod end**|**Balance held atperiod end**|
|---|---|---|---|---|---|---|---|
|**Description/name of party**|**Related**
**party (Yes**
**or No)**|**Thisyear**|**Lastyear**|**Thisyear**|**Lastyear**|**Thisyear**|**Lastyear**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|||-|-|-|-|-|-|
|**Total**||-|-|-|-|-|-|
_**8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please discose details of any balances outstanding between any participating members.**_
|**Description/name of party**|**Balance held atperiod end**|**Balance held atperiod end**|
|---|---|---|
||**Thisyear**|**Lastyear**|
||**£**|**£**|
||-|-|
||-|-|
||-|-|
||-|-|
||-|-|
|**Total**|-|-|
CC17a (Excel)
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62
## **Section C Notes to the accounts**
## **Note 9 Support Costs**
_**Please complete this note if the charity has analysed its expenses using activity categories and has support costs.**_
## **This year**
|**Support cost**
**(examples)**|**Raising funds**|**Activity 1**|**Activity 2**|**Activity 3**|**Grand total**|**Basis of allocation**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**(Describe method)**|
|Governance|-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
|Other|-|-|-|-|-||
|**Total**|-|-|-|-|-||
## **Last year**
|**Support cost**
**(examples)**|**Raising funds**|**Activity 1**|**Activity 2**|**Activity 3**|**Grand total**|**Basis of allocation**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**(Describe method)**|
|Governance|-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
||-|-|-|-|-||
|Other|-|-|-|-|-||
|**Total**|-|-|-|-|-||
_**Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.**_
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63
## **Section C Notes to the accounts**
## **Note 10 Details of certain items of expenditure**
## **10.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
|**Note 10 Details of certain items of expenditure**
**_Please provide details of the amount paid for any statutory external scrutiny of_**
**_accounts and other services provided by your independent examiner. If nothing_**
**_was paid please enter '0' in the appropriate box(es)._**
**10.1 Fees for examination of the accounts**|||
|---|---|---|
|**Other fees (for example: financial advice, consultancy, accountancy services) paid**
**to the independent examiner**
**Independent examiner’s fees**
**Assurance services other than audit or independent examination**
**Tax advisory fees**|**This year**
**£**|**Last year**
**£**|
||-|-|
||-|-|
||-|-|
||-|-|
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64
## **Section C Notes to the accounts (cont)**
## **Note 14 Tangible fixed assets** _**Please complete this note if the charity has any tangible fixed assets**_ **14.1 Cost or valuation**
|At the beginning of the year
Additions (Centenary Hall + utility separation)
Revaluations
Disposals
Transfers *
At end of the year
****Basis**
**** Rate**
At beginning of the year
Disposals
Depreciation
Impairment
Transfers*
At end of the year
Net book value at the beginning of the year
Net book value at the end of the year
**14.3 Net book value**
**14.2 Depreciation and impairments**|**Freehold land &**
**buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery and**
**motor**
**vehicles**
**£**|
**Fixtures, fittings**
**and equipment**
**£**|**Total**
**£**|
|---|---|---|---|---|---|
||-|-|-|-|-|
||316,452|-|-|-|316,452|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||316,452|-|-|-|316,452|
|||||||
||SL or RB (Straight
Line or Reducing
Balance)|SL or RB|SL or RB|SL or RB|SL or RB|
||2%|||||
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
||-|-|-|-|-|
||316,452|-|-|-|316,452|
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## **14.4 Impairment**
_**This year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
_**Last year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_
**14.5 Revaluation** _**If an accounting policy of revaluation is adopted, please provide:**_ **This year Last year** _**the effective date of the revaluation the name of independent valuer, if applicable the methods applied and significant assumptions the carrying amount that would have been recognised had the assets been**_ - - _**carried under the cost model.**_
## **14.6 Other disclosures**
|**_(iii) Details of the existence and carrying amounts of property, plant and_**
**_equipment to which the charity has restricted title or that are pledged as_**
**_security for liabilities._**
**_(i) Please state the amount of borrowing costs, if any, capitalised in the construction of_**
**_tangible fixed assets and the capitalisation rate used._**
**_(ii) Please provide the amount of contractual commitments for the acquisition of tangible_**
**_fixed assets._**|**Thisyear**|**Lastyear**|
|---|---|---|
||**£**|**£**|
||-|-|
||-|-|
||||
_* The "transfers" row is for movements between fixed asset categories._
_** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction._
CC17a (Excel)
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66
## **Section C Notes to the accounts (cont)**
## **Note 17 Investment assets**
_**Please complete this note if the charity has any investment assets.**_
## **17.1 Fixed assets investments (please provide for each class of investment)**
|Carrying (fair) value at beginning of
period
**Add:**additions to investments during
period*
**Less:**disposals at carrying value
**Less: impairments**
**Add: Reversal of impairments**
**Add/(deduct):**transfer in/(out) in the
period
**Add/(deduct):**net gain/(loss) on
revaluation
Carrying (fair) value at end of year|**Cash & cash**
**equivalents**|
**Listed**
**investments**|**Investment**
**properties**|**Social**
**investments**|**Other**|**Total**|
|---|---|---|---|---|---|---|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
***Please specify additions resulting from acquisitions through business combinations, if any.**
_**Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.**_
## **17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.**
|**This year:**
**Analysis of investments**
**Cash or cash equivalents**
**Investment properties**
**Other investments**
**Total**
**Social investments**
**Grand total (Fair value at year end+Cost less impairment)**
**Listed investments**|-
-
-
-
**Cost less impairment**
- -
**Fair value at year end**
**£**
-
**£**
-
-
-|-
-
-
-
**Cost less impairment**
- -
**Fair value at year end**
**£**
-
**£**
-
-
-|-
-
-
-
**Cost less impairment**
- -
**Fair value at year end**
**£**
-
**£**
-
-
-|
|---|---|---|---|
|||||
||**Fair value at year end**|**Cost less impairment**||
||**£**|**£**||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|||
## **Last year: Analysis of investments**
**Cash or cash equivalents Listed investments**
**Investment properties Social investments Other investments**
## **Total**
**Grand total (Fair value at year end+Cost less impairment)**
|||
|---|---|
|**Fair value at year end**|**Cost less impairment**|
|**£**|**£**|
|-|-|
|-|-|
|-|-|
|-|-|
|-|-|
|-|-|
|-||
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## **17.3 If your charity holds investment properties, please complete the following note:**
|**(iv) Explain any contractual obligations for the purchase,**
**construction or development of investment property or for**
**repairs, maintenance or enhancements**
**(ii) Name or independent valuer, if applicable, and relevant**
**qualifications**
**(iii) Provide details of any restrictions on the ability to realise**
**investment property or on the remittance of income or**
**disposal proceeds**
**(i) Explain the methods and significant assumptions in**
**determining the fair value of investment property held by the**
**charity**|**Thisyear**|**Lastyear**|
|---|---|---|
||||
||||
||||
||||
## **17.4 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.**
|**17.5 Guarantees**
**Total**
**Please provide details and amount of any guarantee made to**
**or on behalf of a third party**
**Name of the entity or entities benefitting from those**
**guarantees**
**Please explain how the guarantee furthers the charity's aims**
**Analysis of current asset investments**
**Cash or cash equivalents**
**Listed investments**
**Investment properties**
**Social investments**
**Other investments**|**This year**|**Last year**|**Last year**|
|---|---|---|---|
||**£**|**£**||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||-|-||
||**Thisyear**||**Lastyear**|
|||||
|||||
|||||
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## **17.6 Concessionary loans**
|**Where a charity has provided financial assets as**
**a form of security, the carrying amount of the**
**financial asset pledged as security and the terms**
**and conditions relating to its pledge.**
**For all investments measured at fair value, the**
**basis for determining the value, including any**
**assumptions applied when using a valuation**
**technique.**
**17.7 Additional information**
**Please provide information about the significance**
**of investments to the charity's financial position**
**or performance eg. terms and conditions of loans**
**or the use of hedging to manage financial risk.**
**Amounts receivable after more than 1 year**
**Amounts payable after more than 1 year**
**Amounts receivable within 1 year**
**Terms and conditions eg interest rate, security**
**provided**
**Value of any concessionary loans which have**
**been committed but not taken up at the reporting**
**date**
**Amounts payable within 1 year**
**Amount of concessionary loans made (****_Multiple_**
**_loans made may be disclosed in aggregate provided_**
**_that such aggregation does not obsure significant_**
**_information_).**
**Amount of concessionary loans received****_(Multiple_**
**_loans received may be disclosed in aggregate provided_**
**_that such aggregation does not obsure significant_**
**_information)._**|**_Description_**|**_Description_**|**This year £**|**Last year £**|
|---|---|---|---|---|
||||-|-|
||||-|-|
||||-|-|
||||-|-|
||**_Total_**||-|-|
||||||
||
**_Description_**||**This year £**|**Last year £**|
||
||-|-|
||||-|-|
||||-|-|
||**_Total_**||-|-|
||||||
||**This year**||**Last year**||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||**This year**||**Last year**||
||
||||
||||||
||||||
CC17a (Excel)
30/04/2025
69
## **Section C Notes to the accounts (cont)**
## **Note 19 Debtors and prepayments**
_**Please complete this note if the charity has any debtors or prepayments.**_
|**19.1 Analysis of debtors**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||-|-|
||-|-|
**Total**
## _**Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.**_
## **19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)**
|**Trade debtors**
**Prepayments and accrued income**
**Other debtors**
**Total**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||-|-|
||-|-|
||~~-~~|~~-~~|
CC17a (Excel)
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70
## **Section C Notes to the accounts (cont)**
## **Note 20 Creditors and accruals**
_**Please complete this note if the charity has any creditors or accruals.**_
## **20.1 Analysis of creditors**
|**Accruals for grants payable**
**Bank loans and overdrafts**
**Trade creditors**
**Payments received on account for contracts or**
**performance-related grants**
**Accruals and deferred income**
**Taxation and social security**
**Low Interest Loan**
**Total**|**Amounts falling due within**
**oneyear**|**Amounts falling due within**
**oneyear**|
**Amounts falling due after**
**more than oneyear**|
**Amounts falling due after**
**more than oneyear**|
|---|---|---|---|---|
||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||-|-|-|-|
||4,541
|757
|21,990
|26,448
|
||~~4,541~~|~~757~~|~~21,990~~|~~26,448~~|
## **20.2 Deferred income**
_**Please complete this note if the charity has deferred income.**_
|**_Please explain the reasons why income is deferred._**
**_Movement in deferred income account_**
**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts released to income from previous periods**
**Balance at the end of the reporting period**
|**This year**|**Last year**|**Last year**|
|---|---|---|---|
|||||
|||||
|||**This year**
**£**|**Last year**
**£**|
|||-|-|
|||-|-|
|||-|-|
|||-|-|
CC17a (Excel)
30/04/2025
71
## **Section C Notes to the accounts (cont)**
## **Note 21 Provisions for liabilities and charges**
_**Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.**_
## **21.1 Movements in recognised provisions and funding commitment during the period**
|**21.2 Please provide:**
**- a brief description of any obligations on the balance**
**sheet and the expected amount and timing of**
**resulting payments;**
**- an indication of the uncertainties about the amount**
**or timing of those outflows; and**
**- the amount of any expected reimbursement, stating**
**the amount of any asset that has been recognised for**
**that expected reimbursement.**
**21.3 For any funding commitment that is not**
**recognised as a liability or provision, provide details**
**of commitment made, the time frame of that**
**commitment, any performance-related conditions and**
**details of how the commitment will be funded (with**
**contracts for capital expenditure separately**
**identified).**
**21.4 Where unrestricted funds have been designated**
**to a fund commitment, please disclose the nature of**
**any amounts designated and the likely timing of that**
**expenditure.**
**Amounts added in current period**
**Amounts charged against the provision in the current**
**Unused amounts reversed during the period**
**Balance at the start of the reporting period**
**Balance at the end of the reporting period**|**period**
**Thisyear**|**This year**
**£**|**Last year**
**£**|
|---|---|---|---|
|||-|-|
|||-|-|
|||-|-|
|||-|-|
|||~~-~~|~~-~~|
|||**Lastyear**||
|||||
|||||
|||||
||**Thisyear**|**Lastyear**||
|||||
|||||
|||||
CC17a (Excel)
30/04/2025
72
## **Section C Notes to the accounts (cont)**
## **Note 22 Other disclosures for debtors, creditors and other basic financial instruments**
**22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk.**
|**creditors and other basic financial instruments**||
|---|---|
|**This year**|**Last year**|
|_The CIO is in receipt of a low interest loan of £25,000_
_from a previous donor. The loan is repayable over 6_
_years by monthly instalments of £378.40 paid on the_
_last day of each month. Interest rate 3%. Total_
_interest payable £2250. Total repayments (principal_
_and interest): £27,288. The first repayment was made_
_on 30 Apr 2024. The loan can only be used in support_
_of the charitable purposes of the CIO._|_None_|
**22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conitions related to its pledge should be given here.**
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## **Section C Notes to the accounts (cont)**
## **Note 23 Contingent liabilities and contingent assets**
## **23.1 Contingent liabilities**
**Where the charity has contingent liabililities, please complete the following section unless the possibility of their existence is remote.**
## **This year**
|**This year**
**their existence is remote.**||
|---|---|
|**Description of item including its legal nature. Please**
**describe any security provided in connection to the**
**liability.**|**Estimate of financial effect**|
|||
|||
|||
|||
|**Lastyear**||
|**Description of item including its legal nature. Please**
**describe any security provided in connection to the**
**liability.**|**Estimate of financial effect**|
|||
|||
|||
|||
## **23.2 Contingent assets**
**Where the charity has contingent assets, please complete the following section when their existence is probable**
## **This year**
|**23.2 Contingent assets**
**This year**
**Where the charity has contingent assets, please complete the following section when their existence is**
**probable**|**23.2 Contingent assets**
**This year**
**Where the charity has contingent assets, please complete the following section when their existence is**
**probable**|
|---|---|
|**Description of item**
**Estimate of financial effect**||
|||
|||
|||
|||
|**Last year**
**Description of item**
**Estimate of financial effect**||
|||
|||
|||
|||
## **23.4 Other disclosures for contingent assets and/or liabilities**
**Please provide the following information where practicable:**
|**Explain any uncertainties relating to the amount or**
**timing of settlement; and the possibilty of any**
**reimbursement**
**Where it is not practical to make one or more of these**
**disclosures, please state this fact**|**This year**|**Last year**|
|---|---|---|
||||
||||
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74
## **Section C Notes to the accounts (cont)**
## **Note 24 Cash at bank and in hand**
|**Note 24 Cash at bank and in hand**|||
|---|---|---|
|**Other**
**Cash at bank and on hand**
**Total**
**Short term cash investments (less than 3 months maturity date)**
**Short term deposits**|**This year**
**£**|**Last year**
**£**|
||-|-|
||-|-|
||5,351|67,900|
||-|-|
||~~5,351~~|~~67,900~~|
CC17a (Excel)
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## **Section C Notes to the accounts (cont)**
## **Note 25 Fair value of assets and liabilities**
**This year Last year 25.1 Please provide details of the charity's** The CIO has a low exposure to credit risk and Not applicable. **exposure to credit risk (the risk of incurring a loss** consequential liquidity risk because the **due to a debtor not paying what is owed) , liquidity** majority of income is derived from regular **risk (the risk of not being able to meet short term** hall/studio hires from activity providers/hall **financial demands) and market risk (the risk that** users paid by bank transfer in advance. **the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.**
**25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11,** Not applicable. None held **FRS 102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.**
CC17a (Excel)
30/04/2025
76
**Section C Notes to the accounts (cont)**
## **Note 26 Events after the end of the reporting period**
_**Please complete this note 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**_
|**Please provide details of the nature of the**
**event**
**Provide an estimate of the financial effect**
**of the event or a statement that such an**
**estimate cannot be made**|**Thisyear**
**Lastyear**|**Thisyear**
**Lastyear**|
|---|---|---|
||||
||||
||||
CC17a (Excel)
30/04/2025
77
**Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.1 Details of material funds held and movements during the CURRENT reporting period**
## _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|**_funds_**|||||||||
|---|---|---|---|---|---|---|---|---|
|**Fund names**|**Type PE, EE**
**R or UR ***|
**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**|
|Community Ownership Fund|R|For the purchase Centenary Hall,
separation of utilities and urgent repairs.
£8000 for revenue expenses|-|177,000|- 177,000|-|-|-|
|Penzance Council|R|For the purchase Centenary Hall and
associated purchase expenses|-|80,000|- 80,000|-|-|-|
|Architectural Heritage Fund|R|For professional fees incurred purchasing
Centenary Hall. Architect fees and survey
fees for future project (to RIBA 1 stage).|-|22,933|- 19,820|- 3,113|-|-|
|CIO General Fund|UR|CIO's general fund.|67,900|38,300|- 103,962|3,113|-|5,351|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
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|**_Other funds_**|**N/a**|**N/a**|-|-|-|-|-|-|
|---|---|---|---|---|---|---|---|---|
|**Total Funds**|||67,900|318,233|- 380,782|-|-|5,351|
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**Section C Notes to the accounts (cont)**
**Note 27 Charity funds (cont)**
## **27.2 Details of material funds held and movements during the PREVIOUS reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
|**_funds_**|||||||||
|---|---|---|---|---|---|---|---|---|
|**Fund names**|**Type PE, EE**
**R or UR ***|
**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**|
|CIO General Fund|UR|Funds transferred to the newly created CIO
from another charity for the purchase and
improvement of Centenary Hall|
-|73,552|- 5,652|-|-|67,900|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
||||-|-|-|-|-|-|
|**_Other funds_**|**N/a**|**N/a**|-|-|-|-|-|-|
|**Total Funds**|||-
|73,552|- 5,652|-|-|67,900|
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**Section C Notes to the accounts (cont)**
## **Note 27 Charity funds (cont)**
## **27.3 Transfers between funds**
## **This year**
||**Reason for transfer and where endowment is converted to income,**
**legalpower for its conversion**|**Amount**
|
|---|---|---|
|Between unrestricted and
restricted funds|The transfer from Architectural Heritage Fund (restristed funds)
recognizes that spending from the General Fund in the previous FY
(2022/23) on legal costs and professional fees between 14 Dec 22 and
14 Jun 23 was reimbursed (90% intervention rate) early in this FY
(2023/24) with a grant payment of £3113 on 31 Aug 23. The General
Fund is reimbursed for Restricted Fund outlays initially paid from the
General Fund.||
|Between endowment and
restricted funds|||
|Between endowment and
unrestricted funds|||
||||
## **Last year**
|**Lastyear**|||
|---|---|---|
||**Reason for transfer and where endowment is converted to income,**
**legal power for its conversion**|**Amount**
|
|Between unrestricted and
restricted funds|||
|Between endowment and
restricted funds|||
|Between endowment and
unrestricted funds|||
||||
## **27.4 Designated funds**
## **This year**
**Planned use Purpose of the designation Amount**
## **Last year**
**Planned use Purpose of the designation Amount**
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3010412025
**Section C Notes to the accounts (cont)**
## **Note 28 Transactions with trustees and related parties**
_**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.**_
## **28.1 Trustee remuneration and benefits**
## **This year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**FALSE**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|
|---|---|---|---|---|---|---|
|||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**|
|||**£**|**£**|**£**|**£**|**£**|
|**Benjamin Richardson**|**Trustee Board**|1,400|-|-|-|**1,400**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
_**Please give details of why remuneration or other employment benefits were paid.**_
A payment for completion of project administration activities (purchase of Centenary Hall and refurbishment programme) that exceeded the capacity of the Trustee Board members to perform on a voluntary basis. Performed on a self-employed basis. Hourly rate based upon National Living Wage.
_**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_
## **Last year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**TRUE**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|
|---|---|---|---|---|---|---|
|||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**|
|||**£**|**£**||**£**|**£**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
|||-|-|-|-|**-**|
_**Please give details of why remuneration or other employment benefits were paid.**_
_**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_
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## **28.2 Trustees' expenses**
_**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".**_
**No trustee expenses have been incurred (True or False)**
|**Type of expenses reimbursed**|**This year**|**Last year**|
|---|---|---|
||**£**|**£**|
|**Travel**|-|-|
|**Subsistence**|-|-|
|**Accommodation**|-|-|
|**Other (please specify):**|-|-|
||-|-|
|**TOTAL**|-|
-|
**Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity**
## **28.3 Transaction(s) with related parties**
_**Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.**_
## **This year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**
|
|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|
||||||||
||||||||
||||||||
||||||||
_**In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.**_
_**For any related party, please provide details of any guarantees given or received.**_
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## **Last year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**
|
|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|
||||||||
||||||||
||||||||
||||||||
_**In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.**_
_**For any related party, please provide details of any guarantees given or received.**_
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**Section C Notes to the accounts (cont) Note 29 Additional Disclosures The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.**
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Independent Examiner’s Report. Chapel St Creative CIO. Year end 30[th] June 2024
## INDEPENDENT EXAMINER’S REPORT
## FOR: CHAPEL ST CREATIVE CIO
YEAR TO 30[TH] JUNE 2024
Independent Examiner’s Report. Chapel St Creative CIO. Year end 30[th] June 2024
## **Independent examiner’s report to the trustees of Chapel St Creative CIO.**
I report to the charity trustees on my examination of the accounts of Chapel St Creative CIO for the year ended 30[th ] June 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Chapel St Creative CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of Chapel St Creative CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do 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 no concerns and 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.
Signed: Name: Roger Clough, Clough Accounting Address: 1 Leskinnick Terrace, Penzance, Cornwall, TR18 2HB Date: 30[th] April 2025
Independent Examiner’s Report. Chapel St Creative CIO. Year end 30[th] June 2024
## Appendix 1
|Appendix 1||||||||
|---|---|---|---|---|---|---|---|
||**Chapel St. Creative CIO**||||Charity No
(ifany)|1199383||
||Annual accounts for the period|||||||
||Period start date||**01/07/2023**|**To**|Period end
date|**30/06/2024**||
|||||||||
|**Section A**|**Statement of**||**financial activities**|||||
|**Recommended categories by**
**activity**||Guidance Notes|**Unrestricted**
**funds**|**Restricted**
**income**
**funds**|**Endowment**
**funds**|**Total funds**|**Prior year**
**funds**|
||||**£**|**£**|**£**|**£**|**£**|
|**Incoming resources(Note 3)**|||F01|F02|F03|F04|F05|
|**Income and endowments from:**||||||||
|Donations and legacies||S01|1,000|279,933|-|280,933|72,252|
|Charitable activities||S02|10,173|-|-|10,173|1,300|
|Other trading activities||S03|-|-|-|-|-|
|Investments||S04|-|-||-|-|
|Utilities re-charge (from Chapel St Methodist
Ch)||S05|1,516|-|-|1,516|-|
|Solicitor credit (see N1 para 1.5 prior yr
error)||S06|611|-|-|611|-|
|**_Total_**||S07|13,300|279,933|-|293,233|73,552|
|**Resources expended(Note 6)**||||||||
|**Expenditure on:**||||||||
|Raising funds||S08|-|-|-|-|814|
|Charitable activities||S09|25,736|38,594|-|64,330|4,838|
|Asset purchase - Centenary Hall & Utility
Works||S10|78,226|238,226|-|316,452||
|Other||S11||-|-|-|-|
|**_Total_**||S12|103,962|276,820|-|380,782|5,652|
|||||||||
|**Net income/(expenditure) before investment**
**gains/(losses)**||S13|90,662
-|3,113|-|87,549
-|67,900|
|Netgains/(losses)on investments||S14|-|-|-|-|-|
|**Net income/(expenditure)**||S15|90,662
-|3,113|-|87,549
-|67,900|
|**Extraordinary items**||S16|-|-|-|-|-|
|**Transfers between funds**||S17|3,113|3,113
-|-|-|-|
|**Other recognised** **gains/(losses):**||||||||
|Gains and losses on revaluation of fixed assets for the charity’s
ow n use||S18|-|-|-|-|-|
|Loan proceeds (6 yr low interest loan)||S19|25,000|-|-|25,000|-|
|**_Net movement in funds_**||S20|62,549
-|-|-|62,549
-|67,900|
|||||||||
|**_Reconciliation of funds:_**||||||||
|Total funds brought forw ard||S21|67,900|-|-|67,900|-|
|**_Total funds carried forward_**||S22|5,351|-|-|5,351|67,900|
|||||||||
|Following'Notes toAccounts' notincluded (not applicable to CIO): N5,N7,N11,N12,N13,N15,N16,N17,N18||||||||
Independent Examiner’s Report. Chapel St Creative CIO. Year end 30[th] June 2024
|**Section B Balance sheet**|**Section B Balance sheet**|**Section B Balance sheet**|||||
|---|---|---|---|---|---|---|
||Guidance Notes|**Unrestricted**
**funds**|
**Restricted**
**income**
**funds**|**Endowment**
**funds**|
**Total this**
**year**|**Total last**
**year**|
|||**£**|**£**|**£**|**£**|**£**|
|**Fixed assets**||F01|F02|F03|F04|F05|
|**Intangible assets(Note 15)**|B01|-|-|-|-|-|
|**Tangible assets(Note 14)**|B02|78,226|238,226|-|316,452|-|
|**Heritage assets(Note 16)**|B03|-|-|-|-|-|
|**Investments(Note 17)**|B04|-|-|-|-|-|
|**_Total fixed assets_**|B05|78,226|238,226|-|316,452|-|
|**Current assets**|||||||
|**Stocks(Note 18)**|B06|-|-|-|-|-|
|**Debtors(Note 19)**|B07|-|-|-|-|-|
|**Investments(Note 17.4)**|B08|-|-|-|-|-|
|**Cash at bank and in hand(Note 24)**|B09|5,351|-|-|5,351|-|
|**_Total current assets_**|B10|5,351|-|-|5,351|-|
||||||||
|**Creditors: amounts falling due**
**within oneyear(Note 20)**|B11|4,541|-|-|4,541|-|
||||||||
|**_Net current assets/(liabilities)_**|B12|810|-|-|810|-|
||||||||
|**_Total assets less current liabilities_**|B13|79,036|238,226|**-**|317,262|-|
||||||||
|**Creditors: amounts falling due**
**after oneyear(Note 20)**|B14|21,990|-|-|21,990|-|
|**Provisions for liabilities**|B15|-|-|-|-|-|
||||||||
|**_Total net assets or liabilities_**|B16|57,046|238,226|-|295,272|-|
|**Funds of the Charity**|||||||
|**Endowment funds(Note 27)**|B17|-|||-|-|
|**Restricted income funds (Note 27)**|B18||-||-|-|
|**Unrestricted funds**|B19|5,351||-|5,351|-|
|**Revaluation reserve**|B20||||-||
|**_Total funds_**|B21|5,351|-|-|5,351|-|
||||||||
|Signed by one or two trustees on behalf of
all the trustees||Signature||Print|Name|Date of
approval
dd/mm/yyyy|
|||||Benjamin Richardson||29/04/2025|
|||||Rachel Williams||29/04/2025|