Sennen Cove Recreation Centre
Registered Charity No: 1204904
Report of the Trustees and
Financial Statements for the year ended 30 September 2025
Report Contents:
| Report Contents: | |
|---|---|
| Trustees’ Annual Report | 2 |
| Objectives and Activities | 3 |
| Structure, Governance and Management | 3 |
| Achievements and Performance | 4 |
| Financial Review | 4 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes on the Financial Statement | 9 |
Trustees, Annual Report For the perlod: From 01/10/2024 To 3110912025 Charity name: Sennen Cove Recreation Centre Charity registration number: 1204904 Charity type: CIO - Foundation Registered Address Sennen Cove Recreation Centre, Cove Hill, Sennen Cove, Penzance, TR19 7DF Trustees Justin Knight (Chair) David Beamish Peter Bainbridge Sadie Knight Sennen Parish Council (Corporate Trustee) The trustees declare that they have approved the trustees, report. Signed on behalf of the charity's trustees: Signed Name IIJ iQ1f Position Date
Objectives and Activities
The Sennen Cove Recreation Centre is a volunteer run charity providing affordable facilities for community sport & recreation, located on the Sennen seafront.
Charitable Objects
To promote for the benefit of the inhabitants of Sennen parish and the surrounding areas the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
Public Benefit
Current use of the centre has been limited due to the rebuild project which is currently underway. There has been much interest expressed in using the centre (post rebuild) by local schools and groups and this has been the focus for the charity.
The Trustees review the charity aims, objectives and activities at least once each year to look at what we have achieved through the year. We refer to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing and planning future activities. In particular, the Trustees consider how planned activities will contribute to aims and objectives they have set
Structure, Governance and Management
Governing document
The charity is controlled by its governing document, adopted on 26 August 2023, created to continue the terms of the building trust document (dated 1923).
Recruitment and appointment of new trustees
We aim to recruit new charity trustees from our pool of community volunteers or elsewhere on the basis of their skills & knowledge as per our governing document.
3
Achievements and Performance
The primary focus for 2024-5 has been the centre rebuild project, with news of our successful Community Ownership Fund (COF) application in late December 2024 and successful awards from the Garfield Weston Foundation and Sport England shortly afterwards enabling the project to move forward.
The success of the COF application was largely thanks to the widespread support from the local community for the project, so our heartfelt thanks to everyone who wrote words of support, donated to the 2024 CrowdFunder, or volunteered their time in any way.
A robust tender process was carried out through the early part of 2025 after confirmation of the award from the Community Ownership Fund, culminating in selection of a project manager and contractor ready to start on site in late March following receipt of the grant.
The trustees have a representative at every project site meeting to report back on progress and keep appraised of the project progress. There have been some holdups along the way, particularly surrounding previously unknown Southwest Water assets that were located on site during the foundation dig, but we are working hard with the team to ensure the bulk of the work is complete by the COF spend deadline of 19th December 2025 - with an aim to reopen the centre in Spring 2026.
With the rebuild well underway we’ve recently been focusing on the interior design stage, optimising the equipment for inside the new centre to suit a variety of needs (including meetings, training, workshops, events & school groups); and have a working design for the new gym space (created following a recent community & club survey and following advice from gym equipment & design companies we have contacted).
Enquiries have already started from groups and individuals to use the new centre. We continue to liaise with the local community to ensure the new centre provides what is needed.
4
Financial Review
The charity has bank assets of £329,791 at year end - of which £272,863 is restricted funding received from grant funding mostly for the rebuild project (£15,000 specifically for the community gym space and the remaining £257,863 for the wider rebuild project). Spending on the rebuild project this financial year totals £180,010.
The remaining charity funds amount to £56,928, with around £8,000 of funds currently in excess of that allocated to the rebuild project budget, though there was a healthy contingency built into the project budget to allow for unforeseen additional costs so we have been looking at potential upgrades to some elements that can help future proof the building. For example: items with better warranty; a larger solar array - as a source of additional green energy, with surplus energy providing a small additional income for the charity in future years.
The Community Ownership Funding amount of £50,000 revenue funding and £372,079 capital (plus 20% match of the capital amount) is to be spent by the end of December - this makes up the bulk of the restricted funding the charity currently holds. All the restricted funding from the last financial period (for RIBA stages 3 & 4) has been spent. The EDF Energy credit has been used so this account is now at zero.
We have no current funding applications underway, though the trustees continue to look for funding opportunities to finance running community workshops and events and pay for any suitable volunteer training courses to ensure we have the skills to keep the centre running smoothly.
Currently reserves are being built up, despite the centre not being open, as the grant money was invested into two higher interest savings accounts; one 3 month bond (which matured in September, earning £2,096 interest), and one easy access account (interest is paid out once per year so not yet received, approx £2,5k earned at 30 Sept).
5
Independent Examiner's Report Independent examiner's report to the trustees of Sennen Cove Recreation Centre {'the Charity,). I report to the charity trustees on my examination of the accounts of the Charity for the year ended 30 September 2025. Responsibilities and basis of report As the charity's trustees of Sennen Cove Recreation Centre 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 the Charity's accounts as carried out under Section 145 of the Act. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145{51{bl of the Act. 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: l. accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or I have no concerns and have corne 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: by:
Statement of Financial Activities
For the period: From 01/10/2024 To 31/09/2025
7
Balance Sheet
As at 30 September 2025
| Sept 2025 | Sept 2025 | Sept 2025 | Sept 2024 | |
|---|---|---|---|---|
| Natwest Current Account | £ 79,680 | £ 28 | ||
| Natwest Savings Account | £28 | £ 66,885 | ||
| United Trust Bank | £ 202,096 | n/a | ||
| Hampshire Trust Bank | £ 95,972 | n/a | ||
| EDF Electricity Account | £ | 0 | £ 215 | |
| Creditors (bills owed) | - | £ 47,984 | 0 | |
| Total Assets | £ 329,791 | £ 67,127 | ||
| Rounded to nearest pound (£) |
8
Notes on the Financial Statement
1: Accounting Policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
9
2: Grants & Donations
| : Grants & Donations | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Community Ownership Fund | £ 372,079 | £ 372,079 | |
| Bernard Sunley Foundation | £ 20,000 | £ 20,000 | |
| CCF IOS & West Penwith Fund | £ 2,883 | £ 2,883 | |
| Garfield Weston Foundation | £ 25,000 | £ 25,000 | |
| Sport England Movement Fund | £ 15,000 | £ 15,000 | |
| Donations | £ 5,208.46 | £ 5,208.46 | |
| Totals: | £ 5,208.46 | £ 434,962 | £ 440,170 |
The following funds are restricted for use for the rebuild project:
-
Community Ownership Fund
-
Bernard Sunley Foundation
-
CCF IOS & West Penwith Fund
-
Garfield Weston Foundation
The Sport England Movement Fund is restricted for use to equip the community gym space.
3: Other Trading Activities
Total
Fundraising Activities £ 62.80 Totals: £ 62.80
Trustees & Volunteers ran the cafe at the Sennen Market to raise funds & awareness, we hope this can become a regular occurrence.
10
4: Investment Income
| : Investment Income | |
|---|---|
| Total | |
| Natwest Savings Account Interest | £ 1,205.09 |
| United Trust Bank Interest (3 month bond) | £ 2,095.89 |
| Totals: | £ 3,300.98 |
Hampshire Bank Savings account interest payments are received annually in June.
5: Funds Analysis
| Opening | Receipts | Payments | Closing | Closing | ||
|---|---|---|---|---|---|---|
| Balance | Balance | |||||
| Restricted Funds | ||||||
| RIBA 3 | £ 3,000.48 | £ 3,000.48 | £ | 0 | ||
| RIBA 4 | £17,647.20 | £17,647.20 | £ | 0 | ||
| Rebuild Project - | Capital | £369,962.00 | £139,641.35 |
£227,584.73 |
||
| Rebuild Project - | Revenue | £50,000.00 | £19,721.54 | £30,278.46 | ||
| Gym | £15,000.00 | £15,000.00 | ||||
| Totals: | £20,647.68 £434,962.00 £180,010.49 £272,863.19 |
6: Trustees' Remuneration and Benefits
None of the trustees received payment in the year or previous year in connection with their duties as a trustee.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2025.
7: Related Party Disclosures
None
11