Charlty numbgr. 301595 THE PAINSWICK CENTRE {A CHARITY REGISTERED IN ENGLAND & WALES) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ThE PAINSWICK CENTRE IA CHARITY REGISTERED IN ENGLAND & WALES, NUMBER 301595) CONTE14TS Page Reranc¢ and administratlv• d•tsll¥ of th• charfty, Its In•to08 and advl8er• Trust$. report Indgwndont •xamlnoV$ r•port 8tatomont of flnanGlal actJ¥lUo8 Balanc• •hg91 Not•• to th• Iln•ncI *tat•m•nts 10-12
THE PAINSMCK CENTrE IA CHARITY REGISTERED IN ENGLAND & YIALES. NUMBER 301595) REFERENCE AND ADMIIIISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Tru8ti Roger Balknwll {apFK)inted 24 September 20241 Stephen Brignall lappoinled 11 June 2023) m Brockett (appointed 30 May 2023, resigned 24 September 2024) Ceri Chaplin, Chair lappointed 27 June 20231 Caroline Finch (appointed 24 September 20241 Adrian Gyde {appointed 30 May 20231 Mahboob Hu53ain lappointed 11 June 2023. re5rgned 31 2025) Dawn Jolley {app(Mnted 27 June 2023. o5vJne£l 31 March 20251 Davi¢J Loose lappointed 27 June 2023. sJned 31 January 2025} Richard O'Dohety lappoinled 24 September 20241 John Petrle lappoinled 27 June 2023. resigned 24 September 2024) Graham Walson lappoinled 24 September 2024} John Wlliamson lapwnted 30 May 2023 Antonia Wright lappoinled 27 Jun¢ 2023) Charfty rng1gted numb•r 301595 R•9l•tsrod offlc• Bisley Street. Painswick. GltyJcestershire GL6 6QQ Ind•p•nd•nt •xmln•r Price Davis Limited 4 Manor Park Business Centr8 Ma¢Kenzse Way, Syndon Village, Chettenham GL51 9TX Page 1
THE PAINSWICK CEiifRE (A CHARITY REGISTERED IN ENGLAND & WALES. NUAIBER 301595) TRUSTEES. REpoi¥f (conlinued) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the unarted financial statements of the Charity for the year 151 January to 315t December 2024. The Trustees confinn that the Annual Rèport and financial statements of the Charity comply with the current statut¢xy requirements, the requiremenls of the Charity's goveming document and the provisions of Ihe Statement of Recommended Practtr ISORPI, applicable to charrties preparing their accounts in accordance with the Financial fiepO.ng Starbdard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 2015) as am8nded by Update Bulletsn 1 leffecb.ve 1 January 20151. ABOUT THE CHARITY The charty ¢)wns and operates a village hall in Painsvrtk. GI0es15hIre. OBJECTIVES AND ACTIVITIES Purposgs of tho charlty The object of the charity is the provision and maintenance of a village hall for Use by inhabitants of the fjcclesiastical parish of PainsvAck and the surrounding neighbourhoc¥J wthout distinction of political, Trligious or other opinions, including use for lal meetings, lecture5 and das5es. and Ibl otherfomis of recreation and leisur lime ottupation, with the object of improving the ¢ondibons of lrfe forthe inhabitants. Alain activtti•• und•rtak•n to furfh•r th• GrIty,• Purp fr>r publlc b•n•fft The Tru8tees conf¥m thatthey have conwied V•ith their dutyto have due regard lo the gutdance on public benefrt published by the Charity Commission in exerciwng Ihwr powe and duties. The Centre has a range of room8 for hire. It hosts a wide range of events, induding art ¢xhibition8, conferences, Mting$, private parties, swrts. theatre events and cOrrts, arb"sts' Studios and weddings. 11 also puls on events, Such as the Wck-Flix fikn SCTeenings and FVIJP ftyxj event5. The Centre addrtionally owns a residential cottage, fom)erty used ay staff a¢GcrfnmodatKJn, vknic 13 let on comnr(xal terms to a tenant ACHIEVEMENTS AND PERFORMANCE As was rep¢Nted al the last AGM in September 2(Y24. the current trustee group took over the running of the Centrg June 2023 when the then board olthree trustees had announced the ckjsure of most aspects of the Centre based upon projected finanual (Jrfficuliies. The ()Jfrent trustee body is made up of experienced trustees wde ranging Skills in business, com1FClal, financial. eslate managetrnt. legal and marketing and they have slabilised the finanaal siiuation and have started to restore the chanlies reserves tolovds vthere rt is C8P8ble ofwthstanding financ1 ups and down5. The operations of the Ceftre have retumed to a $maller employed base supplemented by an *ive volunteer group. This has had the effect of reducing overheads vthilst improving communty involvement. The actions taken to improve the way the Centre is managed is nDW apparent. The Centre 15 ncw operating at 8 surplus on a monthty basis and has aceumulaled cash reserves at over £80,1 at the balance sheet date. The Iruslee policy is to hold reserves at least equrvalent to six months expenditu whith t5 approximately £45,000. Trustees are now in a position to look at h(Ml the knlth'es can be further improved whilst su3tsining the Centre's ongoing viabiltty. There are pmj.ects under exploring renovation of the skrttla allèy, potentially converting Tt to a muttpuse facilty designed to Cater for all age and interest groups. The Centre could not survive with(xrt the tireless efforts cl many dedated volunteers. The Trustees are
THE PAINSMCK CENTRE {A CHARITY REGISTERED IN ENGLAND & WALES, NUIIJBER 301595) TRUSTEES. REPORT Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 delighted to tske this opportunity to thank each and every one of them. That sabd, would welcome any new volunteers, irTe5pectNe of how much or lrtlle twne they Can give and would also ¥lcOme those who would consider serving as a tnjstee. We are paitutarty keen on younger people joining us as Painswick continues to see many younger families moving into the area and v wjuld welc(wng It helpingto develop and c(kordlnate a Centre that caters for all age groups. We 3re also continuing to discuss and draft a ntrw conslitull mrye reant to the modem day bul retaining the primary objects've of the trust. 11$1 we We inlY opb"mistic of implementing thi$ within the financial year. the complexities of doino this and obtaining Chanty Commission consent has delayed and continue to successfully operate under the con$titutw)n detsiled urHler the sectson tyelow on Structure and Govemance FINANCIAL REVIEW The ¢harity's Pri1paI 8oure¢8 of funds a hir•. •v•)ts ond b•r tsk98 supplemented by l•tting of residenllal cottage Total income in 2024 was £100.745 (2023 - £84,568) refiecJng the restor8knn of regular operations fo1104Mng the severe conlrath'on caused by the deciSn$ taken by the previous tnjslees. Studio and room hire was £44,47812023- £35.9251 and bar ta.ngS £17,43812023- £4,720). Cottage nt was £10,78812023 - £3.0001, Event income fell slightly lo £12,01112023 - £15,700) mainly because of the en¢)mious assistance given by several wonderful group8 in 2023 wanted lo help the Centre overcome short terni drfru1tleS whllst restored regul¥r trading activrfies vthich had fallen 5ignificanUy for the reasons already ouyined. Other income wa8 £7,23812023- £8.072) Bar costs in¢rea$ed as a consequence of the higher sales at £7,190 (2023- £4,694). Event costs reduced to £2,14012023- £4.3081, reflecting one off nature of some of the events in 2023. Repair costs reduced due lo the careful managemenl and maintenance the building. Staff costs reduced slightty to £15,094 {2023 - £16,359), reffecting the change in approach adopted by the new l)oard. Utility and other operatlonal ¢0$15 were ¥lrfdy managed and all were al expected levels. The net rèsult w•$ net income of £21,808 for the year {2023- net expenditure of £5,527}. At 31 December 2024 the ¢hanty had unrestricted fiJnds of over £1.339 million (2023- £1.317ml. Most olthls 1$ psented by the value of the Painswd( Centre tyLikling. The chaiity had $h al bank and in hand of £82,027 12023 - £58,894). After making appropriate enquirfes. the trustees have a Te350nable exFCtation th* the Charlty has adequate resources to continue sn operational existence for the foreseeable fvture. albeit at a lower level than previously. For this reason. they C[nUe lo adopt the goin9 concwn in pwring Ihe financial statements. The trustees, policy on reserves is that the charrty will bok to retain enough cash to cover at least six months forecast eharrtable a¢livty and overhead ouffityws. This 1$ of the order of £45.CrtlO. The trusteès keep the prinrypal risks of the eharity undef oview. One of the princtpal risk$ faGing the chanty would be 8 significant reduction in demand for its rooms and events over the long4emi. Another would be shortfaii in the availabilty of volunteers tQ SUPP(Kt the charity's activrties. The other prinGipa1 risk would be the requirement for significant unanb"cipated expenditure on the fabric of the building. These principal risks are unchanged from last year. Page 3
THE PAINSWICK CENTRE (A CHARITY REGISTERED IN ENGLAND & WALES. IIUMBER 301595 TRUSTEES. REPORT {n¢[nUed FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND IAANAGEMENT Govornlng document The Centre is govern by a scheme dated 101h Odober 2002 as arnded on 24th Apr 2018. This scheme replaeed the original deed of Sth Deeembw 1908. C¢JiMlltuUon The charity 1$ a stsndard regiored ch¥ity. Mothod of appolntm•nt or el•ctlon of trust••• The Centre is run by a Committee of Managet. This should have three elected membern, one appointed member for each of the organisationg that use the pMiseS and not more than ts¥o ¢tropted mèmbers. The membern of the committee are the managing trustees ofthe tharlty. Thè term of office of all members ends at the end of the annual gerwal meeting fdl(Ming the date on which they came into office. They may be ro-¢l¢d¢d ty r¢-aPPOinted. The eleGted members must be appointed at the annual general meeb'ng. The appointEnt wll be effective from the end of the annual general meets'ng at vthich the apwintment k8 made. Appointed rnemters must be apptynted a¢¢ording to Ihe ordinary practKe of the appointing body. An appOntment must not be made more than n)nthS before the annual 9tra1 meelmig. The 8ppointmenl vlll be effectfve from the latter ot. lal the end ofthe annual general meetirs.. and Ibl the dale on wthich the commitlee or their seeary crf derk InfOnn ofthe appointment. The person appointed need not be a member of the relevant appolnting body. Where an organisation declines lo appoint a member to Ihe committee or lails to nobfy the Secretary of their appointment wlhin the mescales prescribed in clause 22 of the scheme. fv commrttee may appolnt a member to fill the vacancy. The appointment musl be made al a special meeting ofthe commiitee. The appoinlmenl will be effective from the end of that meeting until the end of the following annual general meeting. Cctropted members (of vknich there may not be more than at any timel must be appointed al a speclal meets'ng of the committee. The aprrt)intrnent wll be effective from the end of that meeting until the end of the fdlowing annual general meeting. Policies adopted for th& Induction and lrnlning of trustees The charity has developed a welcome pack and inducbjn process for rwtrusts&s, basad on the Charity Commission's best practKe guidelines.
THE PAINSWICK CENTRE (A CHARITY REGISTERED IN ENGLAND & WALES. NUMBER 301595) TRUSTEES. REPORT {continued) FOR THE YEAR ENDED 31 DECEIIJBER 2024 Thls report was approved by the Trustees on 8 September 2025 and signed on their behaw by. Cell Chaplln Ch8iman and Tte8 Treasurer and Tw$lee Page 5
THE PAINSWICK CEMTRE IA CHARITY REGISTERED IM ENGLAND & WALES. NUMBER 3D1595 INDEPENDENT EXAIAINERS. REPORT TO THE TRUSTEES OF THE PAINScK CENTRE I report on the accJJunts of the Charty for the year erKled 31 DeceFnber 2024 thrch are set out on pages 8 10 12. Y[ attention is drawn lo the fact that the Charrty has prepared the Financial Statements in accordance with Aecounting and Reporting by Charibes preparing their accounts in accordan¢¢ wrth the Financial Reporting Standard applicable in th8 UK and Republic of Irejand IFRS 1021 in preferencE to the Accounting and Repon9 by Charib"e8." Statement of Recommended PractKe is5d LN) 1 Awil 2005 which 15 ferred to in the extant ulalions but has since been tJthdrawn.- We understsnd that this has been done in order for the a¢courrts to provtde a true and falr vlew in accor(lance rith the Generally Aecepted Aeeounting Practice effectNe for reportin9 periods beginning on or after 1 January 2015. R08POCtlvo rosponslblllllos of IMto08 and examlner The trustees are responsible for the preparat)n of the accounts. The trusteeg consKier that an audTt is not required for this year under section 144121 of the Charriies Act 2011 (the 2011 Act) and that aft independent examination 18 needed. l am qualrfied to urKlertake the examination ty being a qualified member of the Association of Charted Certified AGcwntsnts IACCAI. Having satisfied myselfthal the charity is not subject lo audrt under MpanY law and Is eIlle for Independent examu)ab"on, rt 18 my responsibilty to.. examine the aCcOts under 8ecllon 14S of the 2011 Act.. lo follow the predre5 laid d17n r¢ the genwal Dwecbons given by the Chorfty Commisslon under tseCtn 14515llbl of the 2011 Act,. and lo stsle whether partscular matters have c<>me te my attentA. 8a81# of ind•pèndgTht •x•mIn•$ r•port My exgminalion was ¢arrled out In acctydan¢e the general Dlre¢Uon$ given by the Chaiity Commlsglon, An examination indudes a review of the ntIng records kept by the Charity and a Comparison of the accounts piesented those t0$. 11 also indudes consKlefation of any unusual rtems or dlsclosures in the accounts, and Seeking explanatn9 from you as trustees conceming any such matters. The procedures Ltndertaken do not provide all the evidence Ihat UkI be required in an audit and eonsequentty no opinion is given as lo whether the accounts present a and fair and report is Iwnited to those matters set out in the $talement lOw.- Contlnued....
THE PAINSWICK CENTRE IA CHARrrY REGISTERED IN ENGLAND & WALES. NUMBER 301595) INDEPENDENT EXAMINERS. REPORT TO ThE TRUSTEES OF THE PAINSWICK CENTRE ..Gontinued. Independent examinerfs statement In connection with my examination, no matter ha5 come to my attention". (11 which gives me a reasonable cause to believe that in any material respect the reqijirements.. to keep accounting records in accordance with section 386 of the Compantes Act 20C6,' and to prepare accounts which ac¢ord wtth the acGounting records, comply with the a¢Gounts"ng requirernent5 of section 396 of the Companies Act 2006 and with the methods and principles of the Ststemenl of Recommended Practsce.. Accountsng and Reporting by Charities have not been rnet.. or 121 to which. in my opinion, attention should be drawn in order to enable a proper undeTstsndlng of the ac¢oLtnts to te reache11. Craig Fitchett FCCA Price D?vis Ltd Chartered Certified Accountants 4 Mantsr Park Business Centre M8cKenzie Way. Swindon Village, Cheltenham GL51 9TX Date.. 9th September 2025
THE PAINSMCK CEp¥fRE IA CHARtrY REGISTERED IN ENGLAND & WALES. NUMBER 301595) STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Donations Chgritsble activitias stud 8nd rM hke Events Olher 569 10.604 44.478 12.011 7.236 35.925 15.700 8,072 63.725 59,697 Other tradW Incomo 8813 Cottage 17.438 10.788 6.836 4.720 3.000 5.710 35.062 1.388 100.745 13.430 837 Investm8nl income 84,568 EXPENDITURE Raising fun(l$ Barcosts Event Gosts Marketing 7,190 2.140 4,694 4.308 2,498 9,412 11,500 Charitabl• activities Repaits & Trnew8ls 7245 18.184 6.135 4,381 530 13.595 18,017 5.584 3,997 461 Cleaning & waste Insurance LeIng 36.745 41.655 Administratfve staff Pmfessional fees ITand coMmunat Bank charges Cvher 15.094 5,992 2,200 740 9.025 16.359 11.403 1.937 6,653 33,051 78.937 36,940 90,095 NET INCOMEI{EXPENDtTURE) 21,808 (5.5271 The notes on pages g to 11 foryn part of these finan(ial StsteM$. Pdge 8
THE PAINSWICK CENTRE {A CHARITY REGISTERED IN ENGLAND & WALES. NUMBER 301595} BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 FIXED ASSETS Pr(weTty Improvements Fixtures & fftbngs T¢)tal CURRENT ASSETS Stocks Debtofs Cash at bank and in hand Total CURRENT UABILITES 1.189,209 67.100 5,667 1,261,976 1.189,209 67,100 12,032 1.268,341 1.704 6.583 58,894 67.181 6.896 82.027 90,924 Credilorn: amounts fallin9 due within one year NET CURRENT ASSET8 NET ASSETS 13,313 17,74 77.610 1.339.586 49,437 1,317.778 FUNDS OF THE CHARITY Unrnstrbct8d ftsnd• 1.339.$86 1,317,778 The Charty's financial statements have been prepared in 8rdance wtth the prowsions appliGable lo the Financial Rewting Standard applble in the UK and Republ of Ireland IFRS 1021. The financial statements apwoved and aUt1K* for wue by the TSlee8 ond wgned on their behaff, by.. Cerf Chaplln Chaimian and Trustee Treasu r and Trustee Dale.. 8 September 2025 The notes on pages 10 to 12 fomi part of Ihese fin8ncial slatements. Page g
THE PA114SMCK CENTRE (A CHARITY REG18TERED IN ENGLAND & WALES, NUMBER 3015951 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 DECEMBER 2024 ACCOUNTING POUCIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities". Statement of Recommended Practsce applicable to tharthes preparing their a¢counts in accordance with the Financjal Rewting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeth.ve 1 January 20151- IChariti"es SORP IFRS 10211, and the Financial Repcirting Stsndard applicable in Ihe UK R¢pubb'c of Ireland {FRS 1021. The Painswck Centre rrts the defintt&n of a publi¢ benefft entsty under FRS 102. Assets and liabilrtie5 are inibally recognised at histor cost or transactim value unless othewse 5tsted in the relevant accounting pcdw. 1.2 COMPANY STATUS The Centre is govemed by a scheme date(1101h October 2002 as am8nded on 24th Apr 2018. Thi8 stheme replaced the ownal deed of 5th December 1906. 1.3 GOING CONCERN Th8 trustees conslderthat th•re are no materil uncertoinlies ab)ul the Charty'8 ability to ¢ontinue a8 • going concern. 1.4 INCOME l income is recognised ulce the Chanty has entrtlementto the trMe, li is probable thal the income vlll be recefved. and tho 8mount of rec8b4able can be measured reliabty. Donated services or facilities are rec(niSed l)en the Charity hgs control ovèr th6 rtem, ony condition8 88sociated with the donated item have been met. the receipt of economie benefit fvom the use of the Charity of the item is proba8 and th economic benefft Can be measured reliably. In accordance wrth the Chanties SORP (FRS 1021, the genefal volunteer lime is not recognised., pltras• refer to the Trustees, report for more information abtyjt their eontribution. On ree•lpt, donated professKJnal services and donated facilities aye recognised on the basls of the value ofthe gfft to the Charrty whith 1$ the amount the Chanty would have been wlling lo pay lo obtain Serve$ or faolkn.es of equivalent economic teneffl on Ihe open market a cOrresnding amount is then recognised in eXpendrtU in the perio(i of receipt. IncoThE tax recoVerae in relalion to donalN)n$ receNed under Gift deeds of covenant 18 recognised at the b.me gf the donalKffl. 1.6 EXPENDITURE Expenditure is recognised once there i8 a al or cons1nliVe obligation to transf8r economie benefit to a third party, it is probab that a transfer of econom benèffts wll be requiretl in settlement and the amount of the obligation can b¢ mea¥ured relrdbty. Costs of ralslng funds are those in¢urred in generating income and do not include the costs ol disseminating infonnab.on in 5UPPOrt of the charitsble aclJvth"es. Charitable activities aTe the direct costs of urKlertakn'ng the charrty's objectives. Ottw costs a principalty support costs. Page 10
THE PAINSWICK CEKfRE IA CHARITY REGISTERED IN ENGLAND & WALES. NUMBER 301595) NOTES TO THE FINAIICIAL STATEIIENTS FOR THE YEAR ENDED 31 DecEMBER 2024 1.6 TANGIBLE FIXED ASss AND DEPRECIATION A review for impairment of a fixed asset is catried oul rf events or than9es in circumstancey Indicate that the carrying value of any fixe(l asset may I1 be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts a Tecognised as impaimienls. Impairment losses are recognised in the Slatement of financial actNilies >rpora.nQ income and expenditure account. Tangible fixed 888ets are ¢arried at cosL net of depreuabon and any provishm for impaimient. Fixtures and ffttings are depwEciated over thalr anlicipated usefvl Ilfv. For the Cuent fixtures and rittings that is 20% straight4ine depreciakn. 1.8 DEBTORS Trade and other deblors are re¢ognised at the sèltlement amount aftgr arty trade di$¢ounl offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.9 CASH AT BANK AND IN HAND Cash at bank and In hand indudes cash and short tern highty IK1 investments wlh a short maturtty of the months or less from the dale of acquisttk>n or opening of the dèpo$il or similar account. 1.10 LIA8ILITIES AND PROVISIONS Liabllrties are recognised when there is an ObligaOn at the Balance sheet dale a5 a result of 8 past event. it 1$ probable that a transfer of economic benefit will be required in settlement. and the amount of the Settlement can be estimated relrably. Liabililies are recognised at the amount that the Charty anticipates rt V*ill p8y to setue the debt or the amount rt has r¢¢eivtd as advanced payments for the 900ds or services It musl prowde. Provisions are measure(l at the best estimate of the amount$ required lo setue the obligalion. Wherethè èffecl ofthe time value of money is material. the provision Is based on the present value of th08e amtsjnts, discLJunted at the pre-tsx discount rale th81 reflects the risks specffic lo the liabihty. The un1nding of the discount is reecgnised w4th1n interest payab and similar charges. NET INCOMEIIEXPENDITUREI This Is ststed after charging.. 2024 2023 Depreclation and impaimient of tsns¥ble fixed as9ets 2,430 During the year, Trustee5 f1Ved any remuWat1¢¥n(2o23'. nil). During the year. no Trustees recelved any beneffts in kind {2023.' nil). Page 11
THE PAINSbYICK GE14TrE IA CHARITY REGISTERED IN EMGLAND a WALES, NUMBER 301595 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS prortY IMwoveTrts Fixture$ & rIng8 Total COST OR VALUATION At l January 2024 isposa15 At 31 D4cgmb•r 2024 1,189,209 67,100 18.702 6,553) 12,149 1.275.011 16,5531 1,268.458 1.189,209 67.1(rf) DEPRECIATh)N At 1 January 2023 Cttarge for the y•ar Dlsposals At 31 Decemb•r 2024 6.669 2.430 6,669 2.430 (2.616) 6,483 6,483 NET BOOK VALUE At 31 December 2024 At 31 December 2023 1,189.209 1,189,209 67.100 67, 1C 5,867 1,281,975 7,268.342 CREDITORS: AMOUNTS FALUNG DUE VdlThlN ONE YEAR 2024 2023 Trade creditors Oeptssil$ taken Awuals and deferred income 5,662 1.221 6.430 13.313 7.339 1,821 17,744 Page 12