Charity reElstratlon number 270486 THE DREADNOUGHT CEwfRE ANNUAL AEPORT AND UNAUDITED FINANCIAL STATEMENTS FOA THE VEAR ENDED 31 MARCH 2025
THE DREADNQUGHT CENTRE LEGAL AND ADMINisfRATIVE INFORMATION Trustees MrslPTov Mrs C W3lker-Booth Mr J B Edwards IAppointed 21 November 20251 Senlor management Sara-jane Perrins Chief Executive Officer Charlty number 270486 Prln¢ipal address Carn 8rea Lane Pool REDRUTH Cornwall England TRIS 3DS Independènt examiner TC Group Vivian House Newham Road Truro Cornwall United Kingdom TRI 2DP
THE DREADNOUGHT CENTRE CONTENTS Page Tru5tees' repc*rt Independertt examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-24
THE DREADNOVfjHT CENTRE TRUEEs, REPORT FOR ThE YEAR ENDED 31 MARCH2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial st3tement5 have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's 8overning document, the Charities Act 2011 and "Accounting and Reporting by Charitie5'. 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 IFRS 1021 lelfective l January 20191. Obloctlves and a¢tlvFtSes The Charitable aims and objectives of The Dre3dnou8ht Centre are in the interests of Social wellare to provide or assist in the provision ol educational, recreational or other leisure time lacilities for the beneficiaries and with the object of improving thelr conditions of life and their physical, mental and moral improvement. The Dreadnought Centre, has worked for 49 years with childre17, young people and their famllie5 in Cornwall, who are experiencing difticultie5 in their lives- be It emotion81, behavioural or physical. Looking behind behaviour and providing support to explore and recognise feelings and emotions. Empowering children and yOLSng people to butld resilience and Increa5@ emotional IntelliEence. Providing posltive adult role models for young people and enabling thern to make declsions for themselves. Dreadnought's philosophy is based on Person Centred Theory- PCT (Rogers 19511. Children and young people are provided with an opportunity tts develop a sense of self wherein they can realise how their attitudes, feelings and behaviour are being negatively affected and find their true positive Potential. Workers create a Safe, non- judgmental environment by demonstrating congruence, empathy and unconditional positive regard with a non- directive approath, empowering young people to mèke informed decisions. Since the 1960,5 there have been over 200 controlled research studies of the ellicacy of PCT- concluding that pcr enables change (Example., Ellioit Èt 31 'Research on hvmanistic-experiential psychotherapies, 20111. Publi¢ benefit The trustees have paid due regard to guidance issued by the Charity Commission in decidlng what activities the charity Should undertake. Dreadnought Is a referral-only organisation with each child or young peT50n having a need identlfled by a professional or concerned adult in their life. Dreadnought uses a variety of cieative arts, sports and fun activities to engage young people and Dffer5 one to one and group session5 Wlth a programme of work focused on the identified need. It is oijr aim for yotJnÈ people to develop Skills whi15t having fun and engaging in a positive activity with positive adult role models and peers in a confidential, safe space where young people feel hèard and are accepted unconditionally. One to one and group support Is offered at our Centre in Pool, Redruth and on an outreach basis across Cornwall. Taking the service to children, where possible, in their local environment. The detasls of all of the pro8rammes of work Dreadnought Is able to offer can be found on our website www.thedreadnought.co.uk . Dreadnought is able to offer sessions tailored to individual need5, please contact the Centre to discuss Individual needs tearn@thedreadnought.co.uk or on 01209 218764.
THE DREADNOUGHT CENTRE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2025 Volunteers Dreadnought's staff are also involved in the recruiting and tralnlng of Volunteers who intend to work with children and young people, 311 ol whom undergo enhanced checks through the Disclosure and Barring Service. They have contact with external organisations, in particular schools, colleges, Children's Social Work and Psychology Services, CAMH'S and C&OIS NHS. Dreadnought hosts placements for students studying Counselling at level 4 and/or 5, or a Social Work degree. Students on placement receive Clinical Counselling Supervision free of char6e as part of their placement. with a registered Counselling Supervisor. hievements and performance Significant octivities ond uchsevernents ogolnsr objectives Now in its 49th year, Dreadnought remains an importsnt resource for children and youn8 people across Cornwall. 2024 125 has been a year of consolid3tion for the Charity with a positive le£acy from the pandemic being the skills developed to offer a blended service of online delivery In appropriate circumstances. 'Kernow Connect, in partnership wlth Action for Children. was launched in April 2021. This Service continued to provide specialist l-l support for young people a8ed li+ who ère experiencing significant impairment to their ability to functitsn., tsften school refusing Ènd experiencing significant mental health challenges. This is a referral- onty service delivered across the County. The demand for this service has been conslstently high, with strict criteria and limited èvailability. Over the past year we have maximised capacity of the service delivery by continuing to employ three qualified counsellof5 to focus specsfscally on Kernow Connect referrals. However it was announced earlier In the year that Cornwall Council were no longer going to financially support this Project to its current capacity. From April 2025 this service will be reduced by 60% for a delivery period of 12 months only,. sadly resulting in the redundancy of the thre? employed Counsellors under this contract. Dreadnought's Aspires project delivers a service to young people aged 7- 19 years wlth a diagnosis of an Autism Spectrurn Condition. The Dre3dnou8ht Centre continues to deliver this fèntèsti£ service for children and young people Countywide. Following a successful tender submission, the new contract continued running seamles51v from 1st April 2022 with no interruption to service and therefore no disruption for young people. The team continue to deliver the structured social ski115 programme through soclallsation group5 run across Cornwall. We were delighted in 2024 to welcome two prevlous SErvice users to our pIreS te3m in the roles of Group Facilitators, who continue to bring their unique perspectlvè Df having experienced the project first hand. For further information regarding the Service, the crlteria and how to refer, please see Aspires- Autism Spectrum Condition Programme- The Dreadnought Centre. One to one sess¢ons Continue tts be delivered Countywide to children and young people who are referred for a 5peciflc purpose. We note that du¥ing 24125 the level of referrals for complex mental health needs has significantly increased, alon8 Wlth referrals for those with neuro diverse needs. In order to lessen anxiety regarding initial vislts to the Centre, we h8ve developed a 'virtual tour, for young people to experience, learn more about the service and the Centre, and lessen the 'unknown' element of the building. The diverse range of one to one programmes on offer are detailed on our web51te www.thedreadnought.co.uk along Wlth detalls of hDW to refer and access lo onlsne referral forms. In addition to one to one programme5 of work and our Aspire5 group work, Dreadnought offers a range of evenlng group opportunitie5 and bespoke group work delivered schools. Contact Jo James jo.jame5@thedreadnought.co.uk dlrectly for more informatlon. Dreadnought is currently working with an average of 250 children and young people across Cornwall each week.
THE DREADNOUGHT CENTRE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Vc>lunteer recruitment processes continue in line wlth staff recruitment and include a formal interview and probationary period. Volunteers are a highly valued resource in which the Charity invests time ID offer training and close supervisitsn. Anyone interested in further information regarding our Volunteer opportunities please see Volunteer- The Dre3dnought Centre. Professional I clinical counselling supervlsion for professlonals land students) working wlthin the 'Helping Proles5ions' continued to be delivered by Mrs Sara-lat)e Perrins. fate to face and online, during 2024 -25. Contact sarajane@thedreadnou8ht.co.uk Dreadnought's CEO and qualified Supervi50r, for details of how to access this supervision. Going forward clinical supervision within the Ch3rity will also be provided by Mr5 Jo Ellingham. Flnandal revlew The overall deficit for the year wa5 £8.88112024'. suiplus of £45,1481. At the year end £55,77712024.. £81,274) was held in funds restricted for a particular purpose whilst unrestricted reserves stood at £688,013 12024.. £671,397). Free reserves are those not required lor any other purpose, i.e total unrestricted fund5 less designated funds. In the current year this 15 £504.48612024'. £478,217). Reserves policy Reserves are needed to bridge the gap between spending and receiving our income and to cover unplanned emer8en£y repairs and other expenditure. The trustees consider that the ideal level of reserves would be E150,000 which covers approximately 6 months worth ol expenditure.
THE DREADN0UGTr CENTRE TRUSTEE5' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Plans for future periods Durlng the period April 2024 to March 2025, the Charity has demonstrated its ability to adapt in order to continue to provide an invaluable service to children and young people in need in Cornwall. Its ethos ol unconditional acceptance and positive regard rem3in5 true and at the heart of all of its services and projects, as does its commitment to WDrkin8 to the morals and ethics of the BACP Ethical Framework. Now in its 49th year. Dreadnought will endeavour to continue to lake ihe Charity's service to as wlde geographical Ioc3tion as possible in 2025- 26, through its outreach service. Detalls of how to refer are found on the website www.thedreadnought.co.uk. 2025 see5 the 21st Anniversary of Dreadnought delivering the Aspires project. We celebrated this incredible achievement with an event in the surnrner of 2024 to which all past participants, families. volunteer5, staff and professionals were invited. This is a tremendous achievement and Dreadnought is so proud to have been offerin8 this service to children and young people across Cornwall who have a diagnosis of an Autism Spectwm Condition, for so lonB and with such success. Following a successful tender submission to Cornwall Counc¢l, Dreadnought is now part of a gfoup of registered approved providers ol Community Based Out of School Provision. Foi further details includlng htsw to refer to this service contaet team@thedreadnought.co.uk. Dreadnought's permanent home In the converted Methodist Chapel in Carn Bre3 Lane has been receiving rnore attention this past year including the replacement of the boiler, investing in providing a safe and welcoming land warmll environment for children and young people. 2026 is a big year for Dreadnought as we celebrate the incredible achievement of re3¢hing our 50th Golden Anniver53ryl We plan a bit of a face lift io our branding and overall presentation and will be launching this in January 2026. Full details of new, changing and developing services and details of how you can become part of the Dreadnought team can be found on our websitE www.thedreadnought.co.uk, or our Facebook page Idreadnoughtcornwalll. All the Trustees and Team at the Dreadnought Centre wish all of you the very best. Structure. governance and management The Dreadnought Centre is an unincorpor3ted association governed by a Constitution dat&d S October 1975 and is a regi5tefed charity. The overall responslbility for the Charity and decision making is undertaken by the Board of Trustees who meet quarterly to£ether with the Charity Chief Executive Ofllcer. The Charity has a Centre at Pool from which it also operates an outreach service acrtss5 the County with a Chief Executive Officer, who oversees the day to day running of the Charity. During this perlod in total there were 5 full- time staff and 10 part-time staff. The Charity also employs a number of Coun5ellors and sessional workers and has many trained Volunteers, whose contribution is gratefully 3cknowled8ed and central to the ethos of Dreadnought.
THE DREADNOUGHT CENTRE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR EIIDED 31 MARCH2025 The trustees who seryed during the year and up to the date of sigllature of the linancial statemenls were.. Mr G Chappell (Resigned 21 November 20251 MlPToY Mrs G Davey Mrs C Walker-Booth Mr I S 5ansov Mr l 8 Edwards (Resigned 21 November 20251 IRe5i8red 21 November 20251 (Appointed 21 November 20251 Recruitment ondoppcintment of trustee5 The trustee selection proce$5 15 designed to appL)int persons who have the necessary skllls to contrlbute to the Charity'5 mana8ement ad development. Trustee vacancies would be advertised on the CharitV'5 webstte Iwww.thedreadnought.co.uk l and Facebook page, applicants Interviewed by a panel of trustees. Newly appointed trustees would undertake an introduction to the work of The Dreadnought Certre and be provided with the Information that they need to fulfil their roles. which Includes information about the role of trustees and charitv law. Risk management The major risks to wh5ch DreadnouEht is exposed have been reviewed and are stated in a Risk Management document. Systems are in place to monitor and control these risks and thereby mittgate impo£t thal they may have on Dreadnought. This monitofing and contfol of risks has contlnued throughout the year. Dreadnought employs Safety First Cornwall to oversee all of Its Health & Safety requlremellt5 in line with its Cornwall Council contrarts. The twsteps. report was approved by the Board of Tru5tee5. Mrs C Wèlker-Booth Trustee JC. i)1 2oa
THE DREADNOUGHT CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OFThE DREAONOUGHT CENTRE I report to the trustees on my examination of the financial statements of The Dreadnought Centre Ithe charity) for the year ended 31 March 2025. Rè5ponsibllltles and ba515 of report As the trustees of the charity you are responsible for the preparation of the ftnancial statements Sn accordance with the requirements of the Charities Act 2011 Ithe 2011 Act). I report in respect of my examination of the charily's financial statEments carried out under sectlon 145 of the 2011 Act. In Cairying out my examination I have followed all the applicable Directions given by the Charity Cornmission under section 14515llbl of the 2011 Act. Independent examiner's statement Since the charity's gross inctsrne exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which 15 one ctf the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statement5 in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Finèncial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the eKtant regulations but has now been withdrawn. l understand that this has been done in order fo¥ financial statements to provide a true and fair view In accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after I January 2015. I have completed my examination. I confirm that no matters have come io my attention in connectfjon with the examination giving me cause to believe that in any material respect: accounting iecords were not kept in respect of the charity as required by sectlon 130 of the 2011 Act; or the financial statements do not accord with those records,. or the financial statements do not comply with ihe applicable requirernents concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 Dther than any requirement that the accounts give a true and fair view which Is not a rnatter considered as p3rt of an independent examination.
THE DREADNOUGHT CEWRE INDEPENDENT EXPJJIINER'S REPORT IcofrmNUEDI TO THE TRU5fEES OF THE DREADNOUGHT CENTRE I have no (Dnorns and have come across no othei mattefs in connectlon wh the examination to whh attentlon should be drawn in this report in order to enable a proper understanding of the financlal statements to be reached. TC Group Jame5 Pe8rce FCA Vlvlan House Newham Aoad Truro Cornwall TRI 2DP United Kingdom
THE DREADNOUGHT CENTRE STATEMEwf OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCM2025 Unrestrlcted Restricted funds funds 202S 2025 Total Unrestrlcted Re$trirted funds funds 2024 2024 Total 202S 2024 Notes Income and endowments from: Donatlons and legacies Charitable activities Investments Other income 3,152 112,110 7.557 5,213 10.000 286.034 13,152 398,144 7,557 5.213 2,503 141,363 5,156 4,179 20,000 280,280 23.503 421.643 5.156 4,179 Total Income 128.032 296,034 424,066 154,201 300,280 454,481 Expènditure on: Charitable activities 111,420 321,531 432,951 120,656 288.430 409.086 Total expenditure 111,420 321.531 432,951 120,656 288,430 409.086 Net 8ainslllossesl on investrTtents 12 12471 12471 Net IncDrnel{eMpendlturel 16.616 125,4971 18,8811 33,298 11,850 45,148 Transfers between funds 10,000 iio,0001 Net movement In lunds 16,616 125,4971 18,8811 43,298 1,850 45,148 Recon¢iliatlon of funds: Fund balances at l April 2024 671,397 81,274 752.671 628,099 79,424 707,523 Fund balances zt 31 March 2025 688,013 55,777 743,790 671,397 81,274 752,671 The statement of financial activities includes all Eain5 and 10s5e5 recognised In the year. All income and expenditure derive frorn continuing activities.
THE DREADNOUGHT CENTRE BAIANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investments 183,397 2,685 193,054 5,247 15 186,082 198,301 Current assets Debtors Cash at bank and in hand 16 8,850 559.838 27,058 536.4311 568,688 563,488 CredIto. amount$ falllng due wlthln one vear 17 110,9801 19,1181 Net current assets 557.708 554,370 Total assets le Current Ilabllities 743.790 752,671 Net asset$ eM£ludin8 pension Ilabllity 743,790 752,671 The fund5 of the charity Restricted income funds Unrestricted funds 19 55,777 688,013 81,274 671,397 743,790 752.671 The financial statements We fjpproved by the trustees on ...........,............. Mrs C Walker-Booth Trustee
THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2025 Accountlng policies CharSty lttformatton The charity is a public benefit entity and is constituted as an tjnincorporated charily. 1.1 Accounting conventlon The linancial statements have been prepared in accordance with the charity'5 governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland, I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to £haritie5 preparing their accounts in 3ccordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" leffectve l January 20191. The charity is a Public Benefit Entlty as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flow5. The financial statements have departed from the Charities (Account5 and Reports) Regulation5 2008 only to the extent requiied to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charltles applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which 15 the functional currency of the charity. Monetary amounts in these financial 5tstements are rounded to the ne3rest £. The financial statements have been prepared under the historical cost convention. The principal accountin8 policies adopted are set out below. 1.2 Going concem At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational 2xi5tence 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 awailable for use at the discretlon ol the trustees in furtherance of their charitable objectives. Revaluation funds are unrestrirted funds which include a revaluation reserve Kepresenting the restatement of investment assets at their market value. Designated funds comprise funds which have been set aside èt the discretion of the trustees for specific purposes. The purposes and use5 of the de5i£nated funds are set out in the notes to the financial statements. Restricted funds are subject to 5pecilic conditions by donors or gntOrS a5 to how they may be used. The purposes and uses of the restricted fund5 are set out in the note5 to the financial statements. 10
THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2025 AccountSng politie5 Icontlnuedl 1.4 Income Income is retognised when the charity 15 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 recognlsed on receipt. Other donations are recogni5ed once the charity has been notified of the donation, unless performance conditions require deferrnl of the arnount. Income tax retoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Donated goods and services are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantrfiable, measurable and rnaterial. The value of services provided by volunteers is not included within the accounts. Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Items of intome are recognised and included the accounts when all ol the following criteria are met.. the charity has entitlement to the funds; any performance conditions attached to the iiemlsl of intome have been met or are fully within the control of the charity,. there is sufficient certainty that receipt of the income 15 considered probable., and the amount can be measured reliably. 1.5 Expenditure Expenditure is iecognised 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. Expendilure is clas51fled by activity. The costs of each activity are made up of the total of direct costs ènd shared c05t5. including support costs involved in undertaking each actlvity. Dire¢t costs attributable to a single actlvity are allocated directly to that activity. Shared costs which contribute to rnore than one activity and support cost5 which are nor attributable to a single activity are apportioned betwèen those activities on a basis consistent with the use of resource5. Central staff costs are allocated tsn the basi5 of time spent, and depreciation charges are allocated on the portion of the asset's use. Support costs are the those costs required to SUPPOft the charity in carrying out its activltles and mèèting its objects. Governance cost5 include costs associated with meeting the constitutional and statutory requirements of the Charity, including the prep3ration and examin3tiDn of the statutory accounts, the costs of trustee meetin8s and other costs linked to the strategic management of the Charity including the cost of any legal advice to trustees on governance or constitutional matters.
THE DREADNOUGtrrr CENTRE NOTES TO THE FINANCIAL STATEMEKfs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Accountlng policiès Icontlnuedl 1.6 Tangible Ilxed assets Tangible fixed assets are initially measured at cost and subsequently rneasured at C05t or valuation, net of depreciation and any impairment losses. Depreciation is recognlsed so as to write off the cost or valuation of assets less their residual values over their useful lives on the followlng bases.. Freehold land and buildlngs P13llt and equipment Fixtures and littings Computers Property Improvements Solar panels Not depreciated 25% straight Ilne 25% straight line 25% straight line 5% straight line 5Yo Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceed5 and the carrying value of the asset, and is recognised in the statement of financial activities. The residual value of the freehold land and buildings known as St Martin's Chapel has not been depreciated, a5 It is maintained in good wtsrking order and is considered to have a residual value at least equal to the ¢05t of the asset. Any depreciation charge will therefore be immaterial to the financial statements. 1.7 FIMèd asset Investments Fixed asset inve5trnents are initlally measured at transaction price excluding transaction costs. and are subsequently measured at tsir value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction c05ts are expensed as incurred. 1.8 Impalrmènt of fixed assets At each reporting end date, the charity reewS the t3rryin8 amount5 of its tangible asset5 to determine whether there is any indicatlon that those assets hève suffered an impairment 1055. If any Such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with b3nk5, Other short-term liquid investments with original maturities of three month5 or less, and bank overdrafts. 8ank overdrafts are shown within borrowings in current liabilities. 12-
ThE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL STATEME5 {CONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Accounting policie5 (Continuèd) 1.10 FSnancial instruments The charity has elected to apply the provisions of Sectioy) 11 'Basic Flnancial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Flnancial instruments are recognised in the charily's balance sheet when the charity becomes party to the contractual provislons of the instrument. Financial assets and liabilities are offset, with the net amounts presented Sn the financial statement5, when there is a legally enforceable right to set off the recognlsed amounts and there is an intention to settle on net basis or to realise the asset and settle the liabS1ity simultanetsusly. Basicfinonclolussets 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. Financlal assets classified as reteivaL71e within one year are not 3mortised. Busicfinonciolllobilities 8asic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a tinancing transaction, where the debt instrument is measured at the present value of the future payments dlscounted at a rnark rate of interest. Finahcial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amort15ed 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 Irom Suppliers. Amounts payable are classified as current liabilitie5 if payment is due within one year or less. If not, they are presented as non-cuirent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using rhe effective interest method. Deretognition offlnDnciulliobilities Financial liabilitles are derecogni5ed when the charity's contractual obli8ations expire or are discharged or cancelled. 1.11 Taxatlon The charitv 15 exempt from corporation tax on its charitèble activities. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's servic25 are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an ernployee or to provide termlnalSon benefits. 13-
THE DREADNOUGXT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CohINuED1 FOR fHE YEAR ENDED 31 MARCH2025 Ac¢ounting policies (Continued) 1.13 RetSrèment benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Criti1 accountln8 estimates and judgements In the application of the charity's accounting polities. the trustees are required to make judgement5. estimates and assumptions about the carrying amoynt of assets and liabilitie5 that are not readily apparent from other sources. The estimates and associated a55umptions are based on historical experience and other factors thal are considered to be relevant. Actual results may dlffer from these estirnate5. The estimates and underlying assumptlolls are reviewed on an ongcling basls. Revisions to accounting estirnates are recognised in the period in which the estimate Is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The trustees do not believe there are any critical judgements that have been made in applying the charity's accounting policles. Income from donatlons and lega¢ies Unrestrlcted Restrltted funds funds 2025 2025 Total Unrestrlcted RestrlctÈd funds funds 2024 2024 Total 2025 2024 Donations and gifts Grant income 3,152 3,152 10.000 3,503 3,503 20,WO iO,OLbJ 20,OLXI 3,152 10,000 13,152 3,503 20,000 23,503 Donatlons and glfts Don3tion5 from companies, trusts and similar proceeds Donations from 2,274 2,274 2.454 2,454 707 171 707 171 989 60 989 60 Gift aid 3.152 3.152 3,503 3,503 14-
THE DREADNOUGHTCENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Intome from donatlon5 and leBades (Continued) Unrestricted Restricted funds funds 2025 2025 Totsl Unyestrlrted Restrlcted funds funds 2024 2024 Total 2025 2024 Grants receivable for Core activÉties The Three Guineas Trust Screwfix Foundation 10,000 10.000 10,000 10.000 10.000 10,000 10.000 10,000 20,000 20,000 Income from charitable activitles Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds fvnds 2024 Total 2025 2024 2024 Providing counsellln8 and support for chlldren and young people facing emotlonal and personal challenges Schgols 68.015 21,83L) 1.970 20,295 68,015 21.830 1,970 20.295 I,oio 164.775 120,249 106,567 17,612 3,521 12,623 1.040 106,567 17,612 3.521 12,623 1,040 160,031 120,249 Other organisatlons Local authoritv Summer activities Aspires Kernow Connect I,oio 164,775 120,249 160,031 120,249 112.110 286,034 398.144 141,363 280,280 421.643 Jn¢ome from investments Unrestricted Unrestrfrted funds funds 2025 2024 Interest receivable 7.557 5,156 15
THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL ATEmENTs ICONTINUEDI FOR YHE YEAR ENDED 31 MARCH 2025 Other income Unrestricted Unrestrlcted fund5 funds 2025 2024 Solar panel income SPP and SMP recovered 1,8ts5 3.408 4,179 5,213 4.179 Expenditure on charitable actrvities Providing Providin8 counsellln8 tounselling and support and support for chlldren for chSldren and young and young people people facing facSn8 emotional emotlonal antl personal and personal challenges challenges 2025 2024 Dire¢t costs Activity costs Volunteer costs 11,596 913 12,125 I,CM)4 12,509 13.129 Share of 5UPPOrt and governance costs Isee note 81 Support Governance 416,619 3,823 391,856 4,101 432,951 409,086 Analy515 by fund Unrestricted funds Restricted funds 111,420 321,531 120.656 288,430 432.951 409,086 16-
THE DREADNOUGHT CENTRE NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 Support costs allocated to artivitie5 2025 20Vs Slaff costs Depreciatlon Staff trainin8 and welfare Rent and rates LSght, heat and power Insurance Repairs. rnewaIS and cleaning IT and telephone expen5e5 Printing, postage and stationery Subscriptions Sundry expense5 Travel and Subsistence Governance costs 346.414 10,053 3,191 3,158 S,957 338,764 9,053 2,638 977 6,660 li 6,417 23,451 4,487 2,929 1.345 517 6,791 S,490 5,004 3.647 924 1,555 10,353 4,101 8,700 3,823 420,442 395,957 Analysed between: Providing counselling and support for children and young people facing ernotion31 and personal challenges 420,442 395,957 Net movement funds 2025 2024 The net movement in funds is 5tBted after charBinB/lcreditin81.' Depreclation of owned tangible fixed assets 10,053 9,053 10 Trustees None of the tru5tee5 lor any person5 connected with them) received any remuneration or benefit5 from the charity during the year. 17-
TME DREAONOUGHT CENTRE NOTES TO THE FINANCIAL STATEME$ ICONTINUEDI FOR THE YEAR ENDE031 MARCH 2025 11 EMPle#S The average monthW number of employees during the year w3S'. 2025 2024 Number Number Full time staff Part time staff Sessional staff 13 13 Total 26 24 Employment costs 2025 2024 Wages and sè13ries Soclal security costs Other pension costs 321.678 17,003 7,733 315,649 16,755 6,360 346,414 338.764 There were no employees whose annual remuneration was more than £60.000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aregate compensation 74,895 63,845 12 Gains and losses on Imie5tmenis Unrestrirted Unrestrfcted fund5 funds 2025 2024 Gains/l10$5esl ari5in8 on.. Revaluation of investments 12471
THE DREADNOUGHT CENTRE NOTES TO ThE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2025 13 Taxation The charlty is exempt from taxation on its activities because all its income is applied for charitable purpose5. 19
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THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 15 Fixed asset Investments Llsted investments C05t or valuation At l April 2024 Valuation change5 Disposals 5.247 12.5661 At 31 March 2025 2,685 Carrylng amount At 31 March 2025 2,685 At 31 March 2024 5,247 16 Debtors 2025 2024 Amounts fzllin8 du• within one year,. Trade debtors Prepayment5 and accrued Income 1,950 6,900 20,858 6,200 8,850 27.058 17 Credltor5: amounts falling due within one year 2025 2024 Other taxation and soclal security Trade creditors Other creditors Accruals and deferred in¢ome 4,830 2.048 1,102 3,0(M) 6,052 1,624 1,442 10,980 9,118 21
THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EJVDED 31 MARCH2025 18 Retirement benefit schemes 2025 2024 Oefined contribution schemes Charge to profit or loss In respect of defined contribution scheme5 7.733 6,360 The charity operates a defined contribution pension sch&me for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 19 Restricted funds The restricted funds of the charlty comprise the unexpended b31ances of donations and 8rants held on trust subject tts specific condltions by donors as to how they may be used. At l Aprll 2024 Incomlng rèsourte5 Resour9 expended Transfers At 31 Marth 2025 Aspires The Three Guineas Trust Kernow Connect 21,967 3,072 56,235 165,785 10.000 120.249 1145,7Q41 17,9671 1167,8601 42,048 5.105 8.624 81.274 296,034 1321,5311 55,777 Prevlous year: At l April 2023 Incomlng resourtès Resources expended Transfers At 31 March 2024 Aspires The Three Guineas Trust Kernow Connect Fire Safety Improvements 11.313 2,910 65,201 160,031 10,000 120,249 10.000 1149,3771 19,8381 1129,2151 21,967 3,072 56,235 Iio,OLX)I 79,424 300,280 1288,4301 iio.0001 81,274 -22-
ThE DREADNOUGHTCENTRE NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 19 Restricted fuhds Icontlnuedl This fund represents funds received from The Cornwall Council to be used towards the Aspires project. Th Three GuSneas Trust This fund represents grants received from The Three Guineas Trust to be used towards the holiday activite5 scheme. Kernow Covbnect Thls fund respresents funds received from Action foi Children Services Limited to be used to provide services for young people aged 11 to 19 land up to 25 with SENOI. 20 UnrestrÈcted funds The unrestricted fund5 of the charity comprise the unexpended balances of don3tion5 and grants whith are not subjert to specific conditions by donors and grantors as to how they may be used. These include designated lunds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l April 2024 Incoming resources Resources expendèd Transfers GaSns and At 31 March losses 2025 8uilding, maintenance and capitsl designated fund Revaluation reserve 193,054 110,0531 396 183,397 126 478,217 13D 504,486 General fund5 128,032 1101,3671 13961 671.397 128.032 1111,4201 688,013 Prevlous year: At l Aprll 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 Building, malntenance and capital designated fund Revaluation reserve 190,266 19,0531 11,841 193,054 373 437,460 12471 126 478,217 General funds 154,201 1111,6031 11,8411 628,099 154,201 1120,6561 io,cx)o 12471 671.397 -23-
THE DREADNOUGHT CENTRE NOTES TO THE FINANCIAL ATEmENTs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 21 Analysis o net assets between funds Unrestricted funds 2025 Restrtcted funds 2025 Total 2025 At 31 Marth 2025.. Tangibl& assets Investments Current assets/lli3bilitiesl 183,397 2,685 501,931 183,397 2,685 557,708 55,777 688.013 55,777 743,790 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsllliabilitiesl 193,054 5,247 473,096 193,054 5,247 554,370 81,274 671,397 81.274 752,671 22 Reled party transactions Total donations of £48012024.. £4801 were given to the charity in the year by a trustee. 24-