Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
Charity number: 1199683
HATFIELD COLLEGE JUNIOR COMMON ROOM
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 17 |
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024
| Trustees | Sayyed M A H Quader, Student Trustee and Senior Man (appointed 1 August 2023, resigned 31 July 2024) |
|---|---|
| Dr Simon C Walls (appointed 5 June 2023) | |
| Henry G M Flack, Student Trustee and Treasurer (appointed 17 March 2023, resigned 4 February 2024) |
|
| Kiatinada Lersvidhaya, Student Trustee (appointed 17 March 2023, resigned 4 October 2023) |
|
| Duncan Mavin (appointed 18 July 2022, resigned 6 January 2025) | |
| Lucy Cook-Allen, Student Trustee (appointed 18 July 2022, resigned 12 January 2024) |
|
| Caroline Cantor (appointed 18 July 2022) | |
| Joseph Wood (appointed 18 July 2022, resigned 31 July 2024) | |
| Paul Tolley (appointed 18 July 2022, resigned 4 October 2023) | |
| Alice Towle, Student Trustee and Treasurer (appointed 15 March 2024) | |
| Alex Golshan, Student Trustee (appointed 15 March 2024) | |
| Joseph Most, Student Trustee and Senior Man (appointed 1 August 2024) |
| Charity registered | |
|---|---|
| number | 1199683 |
| Principal office | Hatfield College |
| North Bailey | |
| Durham | |
| DH1 3RQ | |
| Accountants | Ryecroft Glenton |
| Chartered Accountants | |
| 32 Portland Terrace | |
| Newcastle upon Tyne | |
| NE2 1QP | |
| Honorary Treasurer | Henry Flack 17 March 2023 - 4 February 2024 |
| Alice Towle 4 February 2024 - |
Page 1
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 August 2023 to 31 July 2024.
The Charitable Incorporated Organisation (CIO) was established by a Trust Deed of 18 July 2022 with the Charities Commission. The charitable activities commenced 1 August 2022.
Objectives and activities
Policies and objectives
The objective of the CIO is to operate the Junior Common Room of Hatfield College (Durham University) is to provide social, sporting, cultural, and recreational activities and forums for discussion and debate for the personal development of members of the Common Room.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Activities undertaken to achieve objectives
The Junior Common Room (JCR) enables students of Hatfield College to partake in sports whilst at university. It also provides volunteering opportunities to students throughout the year, whether that be during Freshers’ Week as a Freshers’ Representative, or by being a part of the executive committee. Students are also given learning opportunities where they can plan large scale events which raise money for charity. This helps with personal development in a variety of ways, ranging from teaching students how to work well in a team to learning how to plan and adhere to a budget. Furthermore, the JCR provides basic wellbeing support and signposting, as well as providing welfare supplies.
Volunteers
Executive members are volunteers who help with the running of the JCR. Fresher Representatives (FREPs) volunteer around 30 hours each during Freshers’ Week to introduce new students to college and university life.
There are also various events committees that organise small or large scale events. Team captains and presidents also contribute to the running of sports clubs.
The student trustee is a volunteer who attends CIO trustee board meetings to ensure decisions are being made with students’ interests in mind.
Main activities undertaken to further the Charity's purposes for the public benefit
The object of the CIO is the advancement of the education of Hatfield College Students for the public benefit by:
-
promoting the interests and welfare of students at Hatfield College during their course of study and representing, supporting and advising students;
-
being the recognised representative channel between students and Hatfield College and any other external bodies; and
-
providing social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its students.
-
The JCR seeks to ensure fair treatment of all its members in the execution of its charitable objects.
Page 2
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Achievements and performance
Main achievements of the Charity
As well as offering a series of events throughout Freshers’ Week, we run a range of large scale social events such as balls. Participation of college sport is also organised through the JCR. Basic welfare support and signposting is also provided by members of the executive committee of the JCR.
Fundraising activities and income generation
The Common Room works in partnership with College and University in the induction of new students during “Fresher’s week”. Inducting new students into the common room effectively increases income gained through membership fees.
Investment policy and performance
Cash reserves are currently held in a bank current account. The trustees are currently developing an investment policy.
Financial review
The charity has closing reserves of £72,379 (2023: £78,582). In the second year of operation income of £210,396 (2023: £243,140 excluding £69,913 transferred the Durham University in respect of opening funds of the JCR). Expenditure of £216,599 (2023: £234,471) has been incurred resulting in a deficit of £6,203 (2023: surplus of £78,582).
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
We are currently developing our reserves policy.
On 31st July 2024, the JCR held £72,379 (2023: £78,582) in reserves which the trustees consider to be reasonable.
Structure, governance and management
Constitution
Hatfield College Junior Common Room is a registered charity (Charitable Incorporated Organisation - CIO), number 1199683, and is constituted under a Trust deed dated 18 July 2022.
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Structure, governance and management (continued)
Methods of appointment or election of Trustees
Apart from the first charity trustees, every appointed external trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. Apart from the first charity trustees, every appointed student trustee must be appointed for a term of one year by a resolution passed at a properly convened meeting of the charity trustees. Student trustees are elected by members of the JCR. External trustees are recruited through an interview process.
Organisational structure and decision-making policies
The charity has a Board of Trustees which is comprised of no less than 3 and no more than 5 external trustees (who shall not be current students at Durham University), and no less than 3 and no more than 4 appointed student trustees.
The charity works alongside Durham University and Hatfield College in achieving its goals.
Policies adopted for the induction and training of Trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment a copy of the current version of the constitution and a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts.
We are currently working on further policies for the induction and training of trustees
Related party relationships
The JCR is recognised by Hatfield College as the student representative body. We take on some joint activities mainly through Hatfield College, which is part of the University of Durham, such as open days, academic and social events. The JCR works in collaboration with the Durham Students Union and consequently the National Union of Students, both of which provides wider representation for JCR members and also offers guidance and support. The JCR is partnered with the University of Durham, which provides space and facilities to members. We have strong links with various other academic and student bodies connected to Hatfield College and the University of Durham generally.
Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
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 which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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 keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 6 March 2025 and signed on their behalf by:
Dr Simon Conor Walls (Trustee)
Alice Towle (Treasurer)
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024
Independent Examiner's Report to the Trustees of Hatfield College Junior Common Room ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
the accounts do not accord with those records; or
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. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 6 March 2025 Deborah Graham, FCA Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne, NE2 1QP
Page 6
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ - 67,089 143,307 210,396 216,599 216,599 (6,203) 78,582 (6,203) 72,379 |
Total funds 2024 £ - 67,089 143,307 210,396 216,599 216,599 (6,203) 78,582 (6,203) 72,379 |
Total funds 2023 £ 69,913 157,443 85,697 313,053 |
|---|---|---|---|
| 234,471 234,471 |
|||
| 78,582 | |||
| - 78,582 78,582 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 17 form part of these financial statements.
Page 7
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
BALANCE SHEET AS AT 31 JULY 2024
| Note Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets Total net assets Charity funds Unrestricted funds 14 Total funds |
2,285 163,962 166,247 (93,868) |
2024 £ 72,379 72,379 72,379 72,379 72,379 72,379 |
3,137 139,469 142,606 (64,024) |
2023 £ 78,582 |
|---|---|---|---|---|
| 78,582 | ||||
| 78,582 | ||||
| 78,582 | ||||
| 78,582 | ||||
| 78,582 |
The financial statements were approved and authorised for issue by the Trustees on 06 March 2025 and signed on their behalf by:
Dr Simon Conor Walls (Trustee)
Alice Towle (Treasurer)
The notes on pages 9 to 17 form part of these financial statements.
Page 8
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. General information
Hatfield College Junior Common Room is a Charitable Incorporated Organisation (CIO) registered at the Charities Commission on 18 July 2022, charity number 1199683.
The registered address is Hatfield College, North Bailey, Durham, DH1 3RQ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Hatfield College Junior Common Room meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2. Accounting policies (continued)
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted funds 2024 £ Transfer funds from Durham University - Unrestricted funds 2023 £ Transfer of opening funds from Durham University 69,913 |
Total funds 2024 £ - |
|---|---|
| Total funds 2023 £ 69,913 |
Page 10
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
4. Income from charitable activities
| Unrestricted funds 2024 £ Income from charitable activities - Clubs and Societies 23,698 Income from charitable activities - Events 43,391 Total 2024 67,089 Unrestricted funds 2023 £ Income from charitable activities - Clubs and Societies 54,924 Income from charitable activities - Events 102,519 157,443 |
Total funds 2024 £ 23,698 43,391 67,089 |
|---|---|
| Total funds 2023 £ 54,924 102,519 157,443 |
5. Other incoming resources
| Hire income Gown income Sales Other income Activities income Total 2024 |
Unrestricted funds 2024 £ 780 480 4,115 42,995 94,937 143,307 |
Total funds 2024 £ 780 480 4,115 42,995 94,937 143,307 |
|---|---|---|
Page 11
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
5. Other incoming resources (continued)
| Hire income Gown income Sales Other income Activities income 6. Analysis of expenditure on charitable activities Summary by fund type |
Unrestricted funds 2023 £ 2,736 1,600 905 36,789 43,667 85,697 |
Total funds 2023 £ 2,736 1,600 905 36,789 43,667 85,697 |
|---|---|---|
| Unrestricted funds 2024 £ Direct costs - Student welfare and development 216,599 Unrestricted funds 2023 £ Direct costs - Student welfare and development 234,471 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 £ £ Direct costs - Student welfare and development 206,071 10,528 |
Total 2024 £ 216,599 |
|---|---|
| Total 2023 £ 234,471 |
|
| Total funds 2024 £ 216,599 |
7. Analysis of expenditure by activities
Page 12
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
7. Analysis of expenditure by activities (continued)
| Direct costs - Student welfare and development Analysis of direct costs Staff costs General activities Contribution towards formals Clubs and societies Event expenditure Gowns Other expenditure |
Activities undertaken directly 2023 £ 229,160 |
Support costs 2023 £ 5,311 Total funds 2024 £ 22,899 119,873 13,727 28,680 2,122 14,500 4,270 206,071 |
Total funds 2023 £ 234,471 |
|---|---|---|---|
| Total funds 2023 £ 23,568 68,285 15,162 31,255 53,310 15,000 22,580 229,160 |
Page 13
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Subscriptions Insurance Accountancy and independent examination Bookeeping services Bad and doubtful debts Professional fees Total 2024 |
Total funds 2024 £ 1,484 343 3,720 900 2,557 1,524 10,528 |
Total funds 2023 £ 451 - 3,540 1,320 - - 5,311 |
|---|---|---|
8. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the preparation and | ||
| independent examination of the Charity's annual accounts | 3,720 | 3,540 |
| Fees payable to the Charity's independent examiner in respect of: | ||
| All other services not included above | 900 | 1,320 |
9. Staff costs
| 2024 £ Wages and salaries 22,899 22,899 The average number of persons employed by the Charity during the year was as follows: |
2023 £ 23,568 |
|---|---|
| 23,568 | |
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Administration | 1 | 1 |
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
9. Staff costs (continued)
No employee received remuneration amounting to more than £60,000 in either year.
10. Trustees' remuneration and expenses
During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Charity. The remuneration was paid in connection with their position of Senior Man for the year. The value of Trustees' remuneration and other benefits was as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Jonathan Cherrett | Remuneration | - | 23,568 |
| Sayyed M A H Quader | Remuneration | 22,899 | - |
During the year ended 31 July 2024, expenses totalling £ 4,372 were reimbursed or paid directly to 5 Trustees (2023 - £2,876 to 6 Trustees) . These expenses were in relation to travel, subsistence and items that aid in the general upkeep of the common room and it's activities.
11. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2024 £ 2,285 - 2,285 |
2023 £ 2,794 343 |
|---|---|---|
| 3,137 |
12. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2024 £ 85,589 8,279 93,868 |
2023 £ 57,359 6,665 |
|---|---|---|
| 64,024 |
Page 15
Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
13. Financial instruments
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 163,962 | 139,469 |
Financial assets measured at fair value through income and expenditure comprise cash held at bank.
14. Statement of funds
Statement of funds - current year
| Balance at 1 August 2023 £ Unrestricted funds General funds 78,582 Statement of funds - prior year Unrestricted funds General funds |
Income £ 210,396 Income £ 313,053 |
Expenditure £ Balance at 31 July 2024 £ (216,599) 72,379 Expenditure £ Balance at 31 July 2023 £ (234,471) 78,582 |
Expenditure £ Balance at 31 July 2024 £ (216,599) 72,379 Expenditure £ Balance at 31 July 2023 £ (234,471) 78,582 |
|---|---|---|---|
| Balance at 31 July 2023 £ 78,582 |
15. Summary of funds
Summary of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| August 2023 | Income | Expenditure | 31 July 2024 | |
| £ | £ | £ | £ | |
| General funds | 78,582 | 210,396 | (216,599) | 72,379 |
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Docusign Envelope ID: BF85CB22-6A25-4DD9-B10A-56B867217A8B
HATFIELD COLLEGE JUNIOR COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
15. Summary of funds (continued)
Summary of funds - prior year
| Balance at | |||
|---|---|---|---|
| Income | Expenditure | 31 July 2023 | |
| £ | £ | £ | |
| General funds | 313,053 | (234,471) | 78,582 |
16. Analysis of net assets between funds Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Current assets 166,247 Creditors due within one year (93,868) Total 72,379 |
Total funds 2024 £ 166,247 (93,868) 72,379 |
|---|---|
Analysis of net assets between funds - prior period
| Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 142,606 (64,024) 78,582 |
Total funds 2023 £ 142,606 (64,024) 78,582 |
|---|---|---|
17. Related party transactions
Funds of £69,913 were transferred to JCR from Durham University in the comparative period being funds belonging to the common room on transfer to its own entity. Wage costs have been recharged from the payroll department of Durham University of £22,899 (2023: £23,568) in the year to the charity.
As at 31 July 2024, £85,221 (2023: £55,408) is owed to Durham University in respect of recharged expenditure.
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