**Company registration number 13993616 (England and Wales) Charity registration number 1200936 (England and Wales)**
## **THE EDWARD HAIN CENTRE LTD**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **THE EDWARD HAIN CENTRE LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|K Grindstaff||
|---|---|---|
||L Isaacs||
||E Veal||
||C Sutcliffe||
||A Bennetts||
||M Evamy|(Appointed 30 August 2025)|
|**Country of incorporation**|United Kingdom|13993616|
||(England and Wales)||
|**Charity registration**|England and Wales|1200936|
|**Registered office**|Edward Hain Centre||
||Albany Terrace||
||St. Ives||
||Cornwall||
||TR26 2BS||
|**Independent examiner**|bk plus||
||Alverton Pavillion||
||Trewithen Road||
||Penzance||
||Cornwall||
||TR18 4LS||
## **THE EDWARD HAIN CENTRE LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Statement of cash flows|7|
|Notes to the financial statements|8 - 20|
## **THE EDWARD HAIN CENTRE LTD**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
The advancement of health and the relief of those in need by reason of youth, age, ill-health, disability or financial hardship in St Ives for the public benefit by establishing and operating a community health and wellbeing centre to provide:
- Information and advice to the general public about local health and social care services
- A hub for community health, health education and wellbeing activities not normally provided by the statutory authorities
The facilitation of clinics. activities and services, provided by health practitioners and other community organisations and individuals for the purpose of improving the health and wellbeing of the residents of St Ives and its surrounding area
## _Public benefit_
Our Trustees have regard to the guidance issued by the Charity Commission on public benefit.
## **Achievements and performance**
## _Significant activities and achievements against objectives Charitable activities_
During the 2024/25 period thanks to grants received we established the Centre as a Community Hub and offered free services including support groups, exercise classes and health advice appointments. We also made an agreement to rent part of our building to the St Ives Food Bank, who had been served notice at their previous residence, ensuring that this vital service remains available to those in need in St Ives
## _Fundraising activities_
We successfully applied for 2 statutory grants from The Enterprise Fund (Town Deal) and the Community Levelling Up Partnership. The Enterprise Fund grant enabled us to carry out further refurbishment and repairs, which saw the first floor of our main building brought into use – the increased income from this helped us to employ a 2[nd] part time employee. The CLUP grant paid for us to employ a third fixed term employee, a full time Community Hub Officer who helped to grow the number of services we provide and to recruit volunteers – due to the increase in our income this role continues to be employed in an ongoing part time capacity. We also applied successfully to several trusts and foundations and in total received £106k in grants during the 24/25 financial year. An additional £33k was received from community fund raising events organised either by ourselves or by our sister charity The Friends of Edward Hain
£26.3k was earned from the Centre’s rented spaces and we anticipate that this will continue to grow as the Centre establishes itself in the community.
- 1 -
## **THE EDWARD HAIN CENTRE LTD**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Financial review**
## _Financial position_
We continue to bank with the CAF Bank – a charity bank set up for charities/not for profit organisations, with which we have 2 accounts. Our current account opening balance on 1[st] April 2024 – £21,831
Our current account closing balance as of 31st March 2025 - £18,879
Notable income received for the financial year included: donations from The Friends of Edward Hain amounting to £21,514, an Enterprise Fund grant totalling £15,132 a Community Levelling Up grant of £15,953, A Garfield Weston private trust grant of £15k a grant from Volunteer Cornwall of £9k and 2 donations from private individuals of £25k and £6k.
## _Reserves policy_
As a relatively newly established charity we have not been able to establish a reserves policy, but a policy will be put in place as part of our next business plan, and is actively being discussed with trustees.
As we reported in 2023/24 we expect our first three years cashflow to be focused on the repair and renovation of the building in order to be able to generate enough income to begin creating reserve.
The results for the year are shown in the statement of financial activities on page 5 and show the net incoming resources for the year of £23,062 (2024: £661,459) which together with the reserves brought forward of 666,869 (2024: £5,410) gives a total reserves figure of £689,931 (2024: £666,869) of this amount, £673,571 (2024: £659,369) is unrestricted.
## _Principal funding sources_
The Charities principle sources of income are grants, private and corporate donations plus rental income from the parts of the building which are open
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## _Recruitment and appointment of trustees_
Our Trustees are recruited following the process outlined in our Trustee recruitment policy which as adopted in 2023.
- 2 -
## **THE EDWARD HAIN CENTRE LTD**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Reference and administrative details**
_Registered Company number_
13993616 (England and Wales)
_Registered Charity number_
1200936 _Registered office_
The Edward Hain Centre Albany Terrace St Ives Cornwall TR26 2BS
_Trustees_ KV Grindstaff LJ Isaacs E Veal C Sutcliffe A Bennetts H O’Riordan (resigned June 2025) MR Evamy (appointed September 2025)
The Trustees report was approved by the Board of Trustees Trustees and authorised for issue and were signed on its behalf by:
L Isaacs
## **Trustee**
24 December 2025
- 3 -
## **THE EDWARD HAIN CENTRE LTD**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EDWARD HAIN CENTRE LTD**
I report to the trustees on my examination of the financial statements of The Edward Hain Centre Ltd (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
24 December 2025
Tom Tripp FCCA ACA bk plus Alverton Pavillion Trewithen Road Penzance Cornwall TR18 4LS
- 4 -
## **THE EDWARD HAIN CENTRE LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
95,202
54,949
Charitable activities
**3**
29,385
-
Other trading activities
**4**
10,014
-
Investments
**5**
1,074
-
**Total income**
135,675
54,949
**Expenditure on:**
Raising funds
**6**
1,372
-
Charitable activities
**7**
120,101
46,089
**Total expenditure**
121,473
46,089
**Net income**
14,202
8,860
Transfers between
funds
-
-
**Net movement in**
**funds**
**9**
14,202
8,860
**Reconciliation of funds:**
Fund balances at 1 April 2024
659,369
7,500
**Fund balances at 31 March**
**2025**
673,571
16,360|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
150,151
52,535
715,222
29,385
2,370
-
10,014
-
-
1,074
364
-
190,624
55,269
715,222
1,372
200
-
166,190
96,110
12,722
167,562
96,310
12,722
23,062
(41,041)
702,500
-
695,000
(695,000)
23,062
653,959
7,500
666,869
5,410
-
689,931
659,369
7,500|**Total**
**2024**
**£**
767,757
2,370
-
364|
|---|---|---|
|||770,491|
|||200
108,832|
|||109,032|
|||661,459
-|
|||661,459
5,410|
|||666,869|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **THE EDWARD HAIN CENTRE LTD**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**17**
**Net assets**
**The funds of the charity**
Restricted income funds
**19**
Unrestricted funds
**20**|**2025**
**£**
**£**
1,026,541
15,126
49,561
64,687
(6,321)
58,366
1,084,907
(394,976)
689,931
16,360
673,571
689,931|**2024**
**£**
**£**
1,024,381
-
46,943
46,943
(5,842)
41,101
1,065,482
(398,613)
666,869
7,500
659,369
666,869|
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 24 December 2025
L Isaacs
**Trustee**
- 6 -
## **THE EDWARD HAIN CENTRE LTD**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**23**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
**Net cash (used in)/generated from financing**
**activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**2024**
**£**
**£**
**£**
**£**
6,226
664,880
(3,224)
(1,024,381)
1,074
364
(2,150)
(1,024,017)
(1,458)
400,070
(1,458)
400,070
2,618
40,933
46,943
6,010
49,561
46,943|
|---|---|
- 7 -
**THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
The Edward Hain Centre Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Edward Hain Centre, Albany Terrace, St. Ives, Cornwall, TR26 2BS.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Government grants are recognised in accordance with the performance model.
- 8 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 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. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
IT equipment
Land is not depreciated due to indefinite useful economic life. Builings at 2% straight line - buildings are deemed to have a residual value at least equal to cost so a charge for depreciation had not been applied. Reducing balance - 33%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 9 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
76,702
-
Legacies
-
-
Grants
18,500
54,949
95,202
54,949|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
76,702
41,183
695,000
-
10,512
-
73,449
840
20,222
150,151
52,535
715,222|**Total**
**2024**
**£**
736,183
10,512
21,062|
|---|---|---|
|||767,757|
- 10 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**2**
**Income from donations and legacies**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**Grants**
Cornwall Council - Town
Deal grant
-
29,495
Cornwall Council -
Levelling Up grant
-
15,954
Community Hub Funding
-
9,500
Baltic Exchange
1,000
-
St James Place
2,500
-
Garfield Weston
15,000
-
Other
-
-
18,500
54,949
**3**
**Income from charitable activities**
**The Edward Hain Centre, St Ives**
Rental income
Car parking income
**4**
**Income from other trading activities**
Fundraising events|**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**(Continued)**
29,495
-
-
-
15,954
-
-
-
9,500
-
-
-
1,000
-
-
-
2,500
-
-
-
15,000
-
-
-
-
840
20,222
21,062
73,449
840
20,222
21,062
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
23,560
1,140
5,825
1,230
29,385
2,370
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
10,014
-|
|---|---|
- 11 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **5 Income from investments**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|1,074|364|
|**6**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Fundraising and publicity**|||
||Fundraising agents|1,372|200|
|**7**|**Expenditure on charitable activities**|||
|||**The Edward**|**The Edward**|
|||**Hain Centre,**|**Hain Centre,**|
|||**St Ives**|**St Ives**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Depreciation and impairment|1,064|-|
||Rates and water|1,643|393|
||Insurance|2,280|2,722|
||Light and heat|14,405|6,039|
||Health, safety and security|3,699|640|
||Repairs and renewals|50,886|17,885|
||Telphone and broadband|2,038|-|
|||76,015|27,679|
||**Share of support and governance costs (see note 8)**|||
||Governance|90,175|81,153|
|||166,190|108,832|
||**Analysis by fund**|||
||Unrestricted funds|120,101|96,110|
||Restricted funds|46,089|12,722|
|||166,190|108,832|
- 12 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **8 Support costs allocated to activities**
|Staff costs
Marketing
Office supplies
IT Costs
Subscriptions
Consultancy
Bank charges
Mortgage fees
Mortgage interest
Training
Governance costs
**Analysed between:**
The Edward Hain Centre, St Ives
**9**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets|**2025**
**£**
52,686
-
1,915
648
162
-
80
-
31,199
923
2,562
90,175
90,175
**2025**
**£**
1,200
1,064|**2024**
**£**
21,566
2,795
95
3,670
113
25,317
80
2,000
20,823
-
4,694|
|---|---|---|
|||81,153|
|||81,153|
|||**2024**
**£**
4,200
-|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
|**2025**|**2024**|
|---|---|
|**Number**|**Number**|
|3|1|
- 13 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**11**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
**Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
Aggregate compensation|**(Continued)**
**2025**
**2024**
**£**
**£**
51,160
19,877
332
1,451
1,194
238
52,686
21,566
**2025**
**2024**
**£**
**£**
32,349
-|**(Continued)**
**2025**
**2024**
**£**
**£**
51,160
19,877
332
1,451
1,194
238
52,686
21,566
**2025**
**2024**
**£**
**£**
32,349
-|
|---|---|---|
|||21,566|
|||**2024**
**£**
-|
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Tangible fixed assets**
|**Freehold land**
**and buildings**
**IT equipment**
**£**
**£**
**Cost**
At 1 April 2024
1,024,381
-
Additions
-
3,224
At 31 March 2025
1,024,381
3,224
**Depreciation and impairment**
Depreciation charged in the year
-
1,064
At 31 March 2025
-
1,064
**Carrying amount**
At 31 March 2025
1,024,381
2,160
At 31 March 2024
1,024,381
-|**Total**
**£**
1,024,381
3,224|
|---|---|
||1,027,605|
||1,064|
||1,064|
||1,026,541|
||1,024,381|
- 14 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**14**|**Debtors**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Amounts falling due within one year:**|**£**|**£**|
||Trade debtors|763|-|
||Other debtors|14,363|-|
|||15,126|-|
|**15**|**Loans and overdrafts**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Bank loans|398,612|400,070|
||Payable within one year|3,636|1,457|
||Payable after one year|394,976|398,613|
||Amounts included above which fall due after five years:|||
||Payable by instalments|(377,208)|(382,187)|
A mortgage exists with Ecology Building Society which has security in the form of The Edward Hain Hospital, under charge code 1399 3616 0001.
|**16**
**Creditors: amounts falling due within one year**
**Notes**
Bank loans
**15**
Trade creditors
Other creditors
Accruals and deferred income
**17**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**|**2025**
**£**
3,636
1,188
297
1,200
6,321
**2025**
**£**
394,976|**2024**
**£**
1,457
-
185
4,200|
|---|---|---|
|||5,842|
|||**2024**
**£**
398,613|
- 15 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**18**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|1,194|238|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 16 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **19 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**||**2025**|
||**£**|**£**|**£**|**£**|**£**|
|Cornwall Community||||||
|Foundation|7,500|-|-|-|7,500|
|Town Deal Grant|-|29,495|(29,495)|-|-|
|Levelling Up Programme|-|15,954|(15,954)|-|-|
|Community Hub|-|9,500|(640)|-|8,860|
||7,500|54,949|(46,089)|-|16,360|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
||**2023**|**resources**|**expended**||**2024**|
||**£**|**£**|**£**|**£**|**£**|
||-|12,722|682,278|(695,000)|-|
|Friends of the Edward Hain||||||
|Centre -||||||
|Property|-|695,000|(695,000)|-|-|
|Cornwall Community||||||
|Foundation|-|7,500|-|-|7,500|
||-|715,222|(12,722)|(695,000)|7,500|
## **Cornwall Community Foundation**
This fund represents a grant received from the Cornwall Community Foundation for utilities, insurance, health & safety, telephone, office supplies and other fees.
## **St Ives Town Deal Enterprise Grants Programme**
This fund represents a grant received from Cornwall Council for upgrades to the Edward Hain Centre including but not limited to fire alarm replacement, smoke alarm re-wiring, asbestos removal, and fireproof glazing.
## **Community Levelling Up Programme (CLUP)**
This fund represents a grant received from Cornwall Council to create a Community Hub officer to drive community engagement to use the centre, set up community groups, recruit volunteers for the centre, and provide administrative support to all these activities.
## **Community Hub**
This fund represents a grant received from Volunteer Cornwall for funding the Community Hub, Pain café and partnerships with other hubs.
## **(2024)**
## **Friends of the Edward Hain Centre - Property**
This fund represents a donation received from the Friends of the Edward Hain Centre for the purchase of the Edward Hain Hospital and permanent safeguarding, as a health and well-being resource for the people of the St Ives.
- 17 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **20 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|---|
|||**2024**|**resources**|**expended**||**2025**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds|659,369||135,675|(121,473)|-|673,571|
|**Previous year:**|**At 1 April**||**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|||**2023**|**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||5,410|55,269|(96,310)|695,000|659,369|
|**Analysis of net assets between**|**funds**||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2025**|**2025**|**2025**|
|||||**£**|**£**|**£**|
|**At 31 March 2025:**|||||||
|Tangible assets||||1,026,541|-|1,026,541|
|Current assets/(liabilities)||||42,006|16,360|58,366|
|Long term liabilities||||(394,976)|-|(394,976)|
|||||673,571|16,360|689,931|
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 31 March 2024:**|||||||
|Tangible assets||||1,024,381|-|1,024,381|
|Current assets/(liabilities)||||33,601|7,500|41,101|
|Long term liabilities||||(398,613)|-|(398,613)|
|||||659,369|7,500|666,869|
## **21 Analysis of net assets between funds**
- 18 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **22 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
Alan Bennetts - Trustee - Donated £120.
Elizabth Veal - Trustee - Reimbursed expenses of £345.08 for office supplies. Keturah Grindstaff - Trustee - Donated £25,125 & reimbursed expenses of £112 for insurance paid.
Comparative year (2024):
Donations totalling £2,020 were received from Trustee's and close family members during the year.
Donations totalling £697,000 were received from the Friends of the Edward Hain Centre (Charity No. 225835) during the year in which they had a trustee in common at that time.
- 19 -
## **THE EDWARD HAIN CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**23**|**Cash generated from operations**||**2025**|**2024**|
|---|---|---|---|---|
||||**£**|**£**|
||Surplus for the year||23,062|661,459|
||**Adjustments for:**||||
||Investment income recognised in statement of financial activities||(1,074)|(364)|
||Depreciation and impairment of tangible fixed assets||1,064|-|
||**Movements in working capital:**||||
||(Increase) in debtors||(15,126)|-|
||(Decrease)/increase in creditors||(1,700)|3,785|
||**Cash generated from operations**||6,226|664,880|
|**24**|**Analysis of changes in net (debt)/funds**||||
|||**At 1 April 2024**|**Cash flowsAt 31 March 2025**||
|||**£**|**£**|**£**|
||Cash at bank and in hand|46,943|2,618|49,561|
||Loans falling due within one year|(1,457)|(2,179)|(3,636)|
||Loans falling due after more than one year|(398,613)|3,637|(394,976)|
|||(353,127)|4,076|(349,051)|
- 20 -