VIORIA CENTrE REGISTERED CHARifY NUMBER 278215 FINANCIALSTATEMEl¥tS FOR THE YÉAR ENDED 31ST MARCH 2025 AR BUSINESS CONSULTAMCY ITD 62 POLWELL LANE BAATON SEAGRAVE KEfrERING NORThAMPTONSHIRE MN15 6UB
VICTORIA CEPfflIE EG RED CHARITY NUMBER 78115 CONTENTS PAGE NO. Offlcers, twstees and senlor staff Trustees. report Independent Examlnèr's report Statement olFinancial Affalrs Balance Sheel Notes to the Financlal Statements 8-12
VIoRIA CENTRE REGisfERED CHARITY NUM8ER 278215 LEGAi AND ADMINISTRATIVE MANAGEMENT COmMI£E CHARtrY TRUSTEES 2024-25 PRESIDENT {non-Trustee} Cynthia Bailev VI-PREsIDENT Vatant CHAIR TonyAslam Ito 2017n41 Rosemary Abram (from 20171241 VICE-CHAIR Rosemary Abram (to 20171241 Valerie Anslow (from 20171241 SECRETARY Allan Blackman TREASURER Jonathan Eklns Ito 011121241 Tony A51am Ifrom 101121241 V.R.C REPRESENTATIVES Vacant NORTH NORTHAMPTONSHIRE COUNCIL Cllr Jonathan Ekins ELECTED BY MEMBERSHIP Rlthard Jackscffl (to 20171241 Tony Aslam Rosemary Abrarn Allan Blackman Valerie An51ow Annta Matereke Nile5h Patel Victorjames OThER INFORMATION CENTRE MANAGEME1 TEAM Bogdan Cesauanu, Principal Flnance Officer Diana Trickett, Principal Operations Mana8er Marta Jankowska, Principal Childcare Officer PRINapAL OFFICE 46-50 Palk Road, Wellingborough, Northants, NN8 IHR 8ANKERS Barclays Bank plc Unity Trust Bank INDEPENDENT EXAMINER AR Business Consultancy Ltd IACMAI 62 Polwell Lane, Barton Seagrave. Ketterin8, NNIS 6UB
vicroRIA CENTRE REGISTERED CHARITY NUMBER 278215 REPORT OF THE TRUSTEE$ 2024-2025 l Reference and admlnlstrati¥e detslls of the Charit IQS Tntstees and Ad¥lsors The Victoria Centre. 4&50 Palk Road. Wellin8borough, Northamptonshire, NN8 IHR is a voluntary organisatSon formed In 1979 with a charitable constitution. It is a regisièred charity no. 278215. The Centre Is Boverned by a Management Committee IMCI. A full list of MC mernbers Ithe Trustees) and of senlor staff of the Centrè can be found on page l. ThÈrè are four principal partner or8an15ationsof the Centre. Wellin8borough United Reformèd Church Synod Property Offite IURCI, and High Street, Wellingborough, owns the buildin8 in which the Centre operates. leasing it to the Centre at a peppertorn rent. The other founder member of the Centre, the Northamptonshlre Ri8hts and Equalitycouncil INRECI, now engages through membership of the MC and with an appointed trustee (position currently vacantl. The Centre buys in financial services from Central Cornputers Manchester Ltd (Livepayl for payroll and from its Independent Examiner. Andrea Rudge of AR Buslrtess Corssultanty Ltd who prepares the final accounts and undertake5 the examination. 2 Strurture Governance and Mana ment Virtorla Centre is 8overned throu8h a wrrtten constitution. the objertives of which ère at Paragraph 3 betow. The MC described above is reconstituted at each AGM and at times between adjusted. according to the rules. Roles and positions compris*of four member5 elected by the genèral membership. Iwo appointed by the URC and two from the NREC Ithese are curnt vacantl. Local government changes in May 2021 to abollsh Wellingborough 8orough Councll and Northamptonshire County Council mean that there are no longer appointees from these defunct bodie5. By Invitation, the Centre can now have two appolnted trustees from Wellingborou8h Town Council Iturrently vacantl and one from North Northamptonshire Council. The MC may co-opt up to four members to be tru51ees, outside of AGMS. The four officers- Chair, Vice- Chair, Secretary and Treasurer, Jre elected at the AGM. or during the year by the MC, and must be members. All employees of Vlctorla Centre are automatically membèrs, but without voting righ15. Otherwise, all members have equal votin8 rights at Constitutional meetlng5 such as AGMS. Only trustees have voting rights at MC meetings. Isee list on page previous pa8el. Victorla Centre continually review5 Its constltution and pollcles to ensure they are kept relevant to an evolving world. The Trustee5 have been working on a proposal to ¢hange the ststus of the Centre to a Charitable Incorporated Organisation ICIOI. This is now ready to bè presented to at the AGM to all members for thelr input and approval, as a more efficient and secure way of operating. 3 Ob The main purpose of the Centre 15 set out in its constitution as follows.. . To promote the benefit of ull those living or w(Jrklng in the 8orough of Wellingborough, hereinaftèr colled.the oreo of benefit., without distinction of age, gender, sexuulity, colour. national or ethnic origin, disobility, HIVstotus. coring/dependent sponsibilities, politicul orreligious opinions orfor any other unjustifioble reuson. This will be u¢hieved by aS50cloting the loculstotutory outhoritie5, voluntury orgonisotion5 (Tndlnhabitonts in o common effort to odvan¢e educotion, und to providefucilities in the interest5 oAsocial welforefor recreation und leisure-time occupotion with the objettof improvlng the conditlon5 of lifeforall those living or working In the Bomtsgh." ive and Aalvltles
The Centre dellvers these obFettives by dirert provTsion of facilities for children and young people, by providing an affordable and welcoming meeting place fortommunity groups, especially those offerin8 sesvices to older people, by supportlng and facilitating Inter-faith 3Ctivlty and by offering incubation help, sUPPOrt and premises for emerginggroups, particularlyfrom disadvantaged or newly-arrived eommunrties. 4 Reserve oli¢ st•tement Trustees have established a standard whereby the unrestricted fund5 not committed or invested in tangible flxed assets (Free ReseNesl held bythe Charity should be £60,CL)O. This equates to approximatelythrèe month5, 8enÈral expenditure and at this level they feel that they would be able to conrinue the current activities of the Centre. This situation is regularly monttored, and Vbctoria Centre continually seeks additional sources of income to maintain and enhance reserves. As at 315t March 2025 thè Charity's free reserves amounted to £75,618. 5 Achlevements and rformante We will start by saying that 2024-2025 was a positive year, with great results, highlighting the stability that the Centre need5. The efforts of the member5 of staff, tru5tee5, member5 and volunteers all tO8ether contributed to delivering a large number of prolects and activities to the community. The Centre was fortunate enough to receive fundingfor warm rooms, supporting approximately 50 individua15 every Saturday wSth food and household essentia15, wellbeing groups, started a new gardening group. supported tens of families with food vouchers throughout the winter, supported 30 individualsof pensionable age with winter warm packs. and many more. Our ¢hlld¢3re SeiceS continue to provide much needed support to working parents, and the holiday and afterschool clubs are more and more populated. The department is working at almost maximum capa¢lty In all 3 area5.' pres¢hool. holiday cltjb and afterschool club, proving the increasin8 need for these kinds of seNices in our local community- Room hire has improved compared to last year. with more regular booking by groups who need to meet and sociali5e. We have groups for karate, Thai chi, Zumba, arts, reading. health and wellbelng oi only to simply meet and chat. Approximately I.0 people use the Centre every single week. As part of ICNA Ilnforrnation Centre for New Arrivalsl, whith wlll soon convert to VICCO (Victoria Centre Community Outreach), Virtoria Centre ha5 helped throughoutthe last year hundred5 of familiès to access employment. benefits. health servi¢es, interpreting services, education (school applications) and day to day 6 FlnancSal Review Please see the Independent Examiner's report and finart¢ial statements for a detailed view of the finances. Although there is a deficit of approximately£13k. the cash flow and operations were not affected. Generated income is positive and improving, The income from the ¢hildcare dep2rtment and room hire has slightly increased. The only aspect of the finances that was not as good as in the previousfinancial year. was grant application5 and grants, income. This has Significantly reduod compared to the previou5 year, giving the staff and trustees fewer opportunities to dellver more projects to the community- But this bs going to be rectified in the new financial year. The intention is to reach more people who need support and for that, the staff and trustees will focus more on obtaining the necessary funds to achieve their goals. The Centre adopted a new financlal pollcy, created to fit the purpose of the charlty and its activities. Compared to the previous financial year, the donations reverted to approximately £2k, as in the years befort. This shows that in 2023-2024, when the Centre was going through a financial distress, the community mernber5 came tOBether and offered direct financial support.
The Centre had higher costs in wages, because of the minimum wa8e increase, though in percentage terms Ft Is only 1.46%. Other cost centres were not that fortunate. For example, the'equipment hire and maintenance" cost centre in¢rea5ed by 160%, because repairsto the boiler had to be carried out Overall, even with a lower income and a small deficit at the end of the financlal year, the Centre's activity is stable, and the members of staff, trustees, members and volunteers are more than ever determined to better serve the need5 of the local residents of Wellingborou8h. 7 Plans forthe Future The process of movin8 to a CIO ststus is ongoin& with great chances of success in the first month5 of the new financial year. The focus in the upcomlng year will be on partnership working. which will bring two benefitstrj Victoria Centre and to the local community- Firstly, it will intrease the efficiency in grants applitatlon5 and will Benerate a greater outreach Sn the community. We would Ilke to thènk staff, members, volunteers, and supportlng groups and Indivlduals for their tremendou5 Worl dèdication and commitment to seeing Virtoria Centre thrive. 8 Funds held as cu5todiaD trustees for others During 2024-2025 the Centre held funds on behalf of Women Have A Go Group IWHAGGsl to a value of no greater than f 3(KJO and none on behalf of others. Valerie An51ow 26th June 2025
INDEPENDENT EXAMINEWS UN ALIFIEO Repo TEES OF V ORIA CE REGISTERED CHARITY NUMBER 27B215 I reportonthe Jccctsnts of the Charftyforthe year ended 31st March 2025which are set out on the followin8 page5. Respeclive fEwhslbllltlesof trustee5 and eNaThdner The Ch3rity's trustees are responsibleft*rthe preparation of aecounts. The Charity'sTru5tees c0Th5iderth¥t an audit not required forthisyear undersettion 14412lof the Charlties Act 201112011 Act) ènd ¢tt an Independent QmInatIOn Is needed. l am qualifie41 to undertake the examinatlon by being a Chartered Mana8ement Accountant Is my responsibility to:_ examine the accounts under section 145 ofthe 2011 Art follow procedures laid down in the 8eneral dlrettksns gfven under section 14515llbl ofth 2011 Act stste whether partlcular matter5 have cometo my attention. Basls of Independent examlner's report examination was carried out In accordance with the general d5retOn$ glverb bythe Charrty Commisslon. It Includes a reeWof tht attouniing records kept bythe Charty arbd a comp8rK%on of bank 3nd othertransa¢tlons to tse entered to the a£countin8 software. It also Includes cansideratiDn of any unusual iiems or di5closure5 in ihe èccwThts. and seeking explanation5 from thecentre Manager and Prlnclpal Finance Officer concerning suth matter IKdep¢ndentexaMlrf$ sththment Afterihe unsettling perlod of 2023-24,thls fit)anlral year wa5 relatrvely settled it) teymsof stsffing and 5ervice5, although there continued to be worryin8£hanaes of Trustees and offlcers during the perled. However, this seEm5 to have stablltsed In the latter partof thè perlod. In terrn5 of number¥ overall, the Centrewa5 in defictt by £13.61312024 £47,897 surplus), whkh Isobvlousty not JÈal. Total Incomewas down by E84.377¢ompar2d to last yea¥ and this is a1rn05t entIlY down to less grant funding bein8 retÈived. Income from activines Sow Hn increase to £225,19412024 £205,037), with Childiare income up by£6.531. Iniome from lettin8slhlre remained stable and donations went dowrb from an unusually hiqh £14.058 n 2024 to £1978. Grantfundln8 In Ehe period amounted to £53,30412024£134.3891. In term5 of expenditure. the Centre spent £282,776 compared to £306.143in the previous period. Salaries and asSOCtatsd c05tswere £2,750 hlgher, but there were si8niflnt rÈductiot)s In spendlnB on sraff rralnln8 and premisesarnl there were no amounts WreN off custorner balancp5 this period. Totsl chlldcare costs were up by É11.675 but some of th 15 undoubtedly down to moreaccurate allocatlon of expenses In Sage. Atthe end of the perlod, the Centre had cash Te5ervesof £78.48512024 £103,385lof whoch £24,933 related to unspent restritted funds. and Free resÈNesof £75,6k8. l arn 5atisfSed that data recording in Sage is done accurately and on a timEly basls wlth all recoThcillations carried gut reÉulattr and correctly documented. l a15U Satfied thar the Prlnripal Finance Offiier andCMT are atutèly aware f the Centre'sflnaThclal position and are actNelytryin8 to source new lunds and Identtfy ways io make savinv. Although the èccovnts show 3 deficit oi £13.613,and thls15 notSU5tsinable on a lon8er-term basis, I belleve that personnel. systems and procedures are in are to be able to make necess4ry chan8e5 should the need artse. Therefore. l ?rTh 5ati5fied that the accounts are a true aridtair repTesentatK)n of the CeDtr¢'5flnances ès at31st March 2025. A R Buslness Cottsuhancy Ltd 62 Polwell Lane. BartL Sea8tave. Ketterln& North3mptonshire, NN15 6VB Ilth JuTre 2025
vicroRIA CENTRE EGisfERED CH RITY NUMBER27 AL TIES FO REND Notes unstrICted Funds Restricted Funds Totsl 2025 Total 2023-2024 Income from: Donatlons and Legacies 1,978 1,978 14,058 Charltable activltles Investments 225,194 13 41.978 267,172 13 339,426 56 Totsl Incom• 227,185 41,978 269,163 353.540 Empendlture on". Charitable activities Capital assets 246,689 36,087 282,776 306,143 Totsl expendlture 246.689 36.087 282,776 306,143 Net Incomellexpendlture) Transfers between funds 119,5041 5,891 I1313) 47397 Net movement of funds {19,$041 5.891 113,6131 47.397 Reconciwatlon of funds: Total fvnds brought forward l April 2024 95,122 19,042 114,164 66.767 Total funds tarrled lonwa YI Mar¢h 2025 75.618 24.933 loo51 114,164
VICTOR CENTRE REGISTERED CHARITY NUMBER Z78215 ALANCE HEET RCH 2025 Notes 2025 20Z4 Hxed a$5ets 12,283 16,378 Currenl 3$5¢ts Debtors Bank 19,811 78,485 .721 103.385 98.296 iiz,i Credlfors Amounts falliThd due within one year 10,029 14,320 Net current a5Sèts 88.268 97,786 Net assets 100,551 114.164 Charfty funds Unrestrltted funds Restrirtèd funds 75,618 24.933 95,122 19.042 io 100,551 114,164 The financial 5tstements were approved and authorised for issue by the Management Committee on 25th June 2025 Signed on behalf Dfthe Management Committee Rosemary Abram Ichalrpersonl Valerie Anslow Ivice-chairpersonl
VICTORIA CENYRE REGISTERED CHARITY NUMBER 278215 NOTESTO THE FINANOAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 202 I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIFS (•) General Informatlon The Victoria Centre Is a charity reelstered in the Vnfted Kingdom.The address is shown on pa8e l. The nature of thetharity's operatlons and principal artivliies are detailed in the Trustees, Report.The charitymnsiitutes a public beneflt ent(ty as defined by FRSIO2. Ibl B•sSs of a¢counti The financial staternent5 h4vÈbeers prepared underthe historit81 cost conventSon in ¥cord3ncewlth the 5tstement of RecornmèndÈd Practite'A¢tountinE and Reporting by Charities" Issued ITh 2015 IFRS1021 and In line with UK Attountingstandards and the (hariilesActs 2011 and 2022. The charity hasapplied Update Bulletln l as published in February 2016 and does notincludea ca5hflowstatement on the 8roundsthat rt 15 applying FRS1021A. Icl Incomin8 R850ur Donalion5and14atEes Donations, legxies and grantsthat provide£ore fundingor are of a general nature are recogni5ed where there 15entlernen1. certainty ol re¢¢ipr and the amountcan be measured wlth sufficient In¥e5knent Income Interes1 is brought into atcount on a receable ba515. lrtomefrom tharliableArtl¥ltles Income from Charltable Activitie5 includes incorne received under contractor where entr(lementto grant fundin8 is subject to specifit performante conditions and is recognised a5 earned. Grant income in thi5 category provideslundingto support perfomanceactivltles and is reco8r115ed whEre there is entitlement, Certainty of receipt andtheamountcan be measured with sufficient reliabilty. Idl Expend[re Expenditure is recongnisedwhen a liability is incurred. Costs of Gerter3ting Fund5 are those costs incurred In allractinB voluntary Incorne. CharitableActivitles includes expendlture associated with the provision of facllities and services In the Centre that relate dlrectly to the Charitable Objert5. Governance C05t5 includethose incurred in the #overnanceof the Charityand its assets and are primarilya550tiatd with constitutional and statlrtory requirernents. lel Tan8lble Fixed Assets and Depredatlon All tangible Fixed Assetscosting more than £500are ¢apitsllsed and included at cost including anv incidentalexpenses of acquisition. Depreciation 15 calculated to write down the c05t or valua16on of all tanBlblellxed assets overthe expected useful Ilves. xture5. Fittings & EouSpment 25% reduclngbalance
lfj Fund Af¢ountln8 Fund5 held bythe Charityare either: Unre5trictedÈeneral funds- whlch can be used in accordancpwlth the Charltable Obletts atthe dlscretion ofthe Managementcommittee. Deslgnated fund5- set aside byiheTrustees forspecificfuture purposes orprojects. Restricted funds that can onty be used for partlcularrestricted purpos within the objects of the Charlty. Restrictions arise when specthed bythe donc¢ror wheTh fundsare riised fDr particular restricted purposes. 2 INCOME FROM CHARITABLE ACTIVITIES Grants and fvndtn lknrestrtcled Remrl Funds Funds 2024 North Northamptonshife Countil IICNAI Stott Bader IDesi8natedl National Lottery Cornmunily Fund NNC HSF4 Poverty Resiliencemami room North Northants Coun¢ll HSF3 Food Northants Community FouThdation- ICNA National Grid NNC WHAGS13rd partyl NNC shared Propsperlty Fund othersmall Krants 11,326 11.326 11,326 19.596 14,310 19.596 14.310 74.930 30.000 3.(K)O 9.995 2.500 2.000 5.872 200 2,000 5,872 200 1.838 Totsl Grants and Fundin8 11,3Z6 41.978 53.304 134.389 Donations Lettln8s Chilifcafe Membership fee5 other intome 1.978 59.753 152.338 330 1,978 59.753 152.338 330 1.448 215.846 14.058 58,718 145.807 220 292 219.095 215.846 Totsl Incorn 227.172 41.978 269.150 353A84
vicroRIA CEpifRE REGISTEREO CHARITY NUMBER 278215 NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR E14DED 31 MARCH 2015 Unr*strkted Re5trirted Funds Fund5 3 EXPENDMJRE: Expendlture by Incorne stream North Northamptonshire Council IICNAI Scott Bader IDÈsignatedl Natlon31 Lottery Community Fun NNC/D3yllght Centre HSF4 Poverty Resllience Ngrth Northonts Council MSF3 Food Northants Community F(Fundation- ICNA NNC Shared Prosperity Fund Natlonal Grid NNC WHAGS Other smèll grants 2025 2024 11.326 11,326 11,326 13.720 11.433 13,720 11,433 61,210 30.000 3.000 S,872 3.000 5,872 9,995 430 1.838 120,599 185.514 1.862 200 36,087 1,862 2CrfJ 47.413 235,363 11,326 235,363 Non grant-related expenditure Les5 capitsl expenditure Z46,689 36,087 281776 306.143 Exptnditure bytype Chilthare salaries. pensions and empenses Core salar5 and penslons Emph)yerf5 National Insurance stsff iralning and welfare Rztes and utilitlE5 Other premises cost5, inc. refurb/H & S ststlonery. printing, telephone. posta8e Computeranil IT ¢ostS Equipment hire, maintenance and expensed Bank charges and Interest paid Subscriptions ID5uran Other c051s Depreciatlon Professional, legal and licence costs Amounts written off Customer balances WHAGS expenditure HSF4 Poverty Resillen£e/Warm room 95.941 105.184 8,536 295 24.106 11,157 3.135 2.369 4,679 1.661 175 3,632 95,941 105,184 8,536 295 24.106 11.157 3,135 2.369 4,679 1,661 175 3,632 644 4.095 84.266 114.653 8,380 4.247 26,860 25,631 3,067 2,666 1,799 1.493 992 3.D71 553 4,095 2,951 2,005 430 16,024 4.095 1,862 11.433 279,8Q8 1,862 11,433 279.808 303.183 A£count8ncy. payroll. OBS 2,968 2.960 282.776 282.776 306.143 io
VIORIA CENTRE REGISTERED CHARrrY NUMBER 278215 OTES TO THE FINANCIAL ST EMENTS FOR THE YEAR ENDED 31 4 STAFF COSTS 2025 2024 Total gr055 wages Employer's Nl Penslon costs Salaries allocated to restricted funds 196,202 8,S36 2019 193,376 8,380 3,051 144.9111 159A96 207557 5 TANGIBLE FIXEDASSETS FIKtures Fbttln 2025 2024 Cost orvaluatlon As ai 1st April 2024 Additlrjns during year A5 èt 31st March 2025 77,397 77.397 77,397 77,397 77,397 77,397 Depredallon As at 1st April 2024 Charge for the year As ai 31st March 2025 61.019 4.095 65,114 61,019 4,095 65.114 56.924 4,095 61,019 Net Book Vol As at 31st March 2024 A5 at 315t March 2025 16,378 12.283 16,378 12.283 20,473 16,378 6 DEBTORS 2025 2024 Due from users and tllents Accrued Income Prepayments 12,300 408 7,103 3.508 5,213 ,721 19.811 7 CREDITORS Trade crèditors Accruals Soclal security, wage5 and pension 4,314 2.658 3,057 10.029 8,732 2,000 3.588 14.320 8 TRUSTEE5 The trustees are the membws ofthe Mana8ement Committee. During thè year, 9 members 12024, 151 served on the committee. Expenses paid to trustee5 totslled £012024, £01. No li
VICTORIA CENTRE REGISTERED CHARITY NUMBER 278215 NOTES TO THE FINANCIAL STATEMENTS THE YEAR ENDED 31 MARCH 2025 9 UNRESTRicfED FUNDS Transfws Between Funds Balanie at Incomln IA ril 2024 Resources Resources Balance at 31 Mar 2025 Deslgnated Funds Scott Bader General Reserves 95.122 227.185 1246.6891 75,618 95,122 227,185 1246,6891 75,618 10 RESTRICTED FUNDS WHAGS NCF- ICNA NNC HSF4 Poverty Resillwarm room NNC Shared Propsperity Fund Nat Lottery Community Fund Other small grants 2,322 3,000 2,000 11.8621 13,0001 111,4331 15,8721 113.7201 12001 {35,8871 2.460 14.310 5,872 19.596 200 41.778 2.877 13720 19.596 19,042 24.933 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS nrestrict•d Restrirted 2025 2024 Tangible Fixed A55ets Current Assets Current Llabllitles 12,283 73,363 110.0291 75,618 12.283 98,296 {10,0291 100.551 16,378 112,106 114,3201 114,164 24,933 24,933 12