## **THE CHARING CROSS CENTRE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025**
**THE CHARING CROSS CENTRE**
## **Contents**
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Page no.
Charity information 1
Statement of trustees’ responsibilities 2 - 4
Independent Examiner’s Report 5
Accounts comprising:-
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8 - 13
Charity Information
Charity registration number: 304027
Location of principal activity:-
17-19 St John Maddermarket
Norwich
Norfolk
NR2 1DN
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Mr A Jarrold, Mr D Ford and Mrs L Hunt, trustees of the charity, hold title to the above property.
## **Trustees/Management Committee**
D Ford (Chair) T Fellas (Vice Chair) P Hunt (Treasurer) J Roberts S Seeley L Hunt A Jarrold
## **Accountants**
Stephenson Smart (East Anglia) Limited Queens Head House The Street Acle Norwich NR13 3DY
## **Bankers**
The Co-Operative Bank PLC P.O. Box 250 Skelmersdale WN8 6WT
1
**THE CHARING CROSS CENTRE TRUSTEES’ REPORT**
The trustees present their annual report and financial statements of the charity for the year ended 31 March 2025.
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity has applied Update Bulletin 1 as published on 2 February 2016 and Update Bulletin 2 published on 5 October 2018.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) (second edition effective 1 January 2019) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Objectives and activities for the public benefit**
The charity is governed by its constitution which was revised in 1987 and amended in 1999. Its objectives are to assist young people to mature and develop by providing facilities, further education, training and recreation. The trustees confirm that they have referred to the Charity Commissions guidance on public benefit when reviewing the charity’s aims and objectives.
## **The accounts**
The Statement of Financial Activities for the year is set out on page 6 of the financial statements. A summary of the financial results and the work of the charity are set out below.
## **Income generation**
Incoming resources increased against the previous year.
## **Investment policy and returns**
The trustees’ policy is to invest funds that are not immediately required into the CAF UK Equity Fund and bank savings accounts.
## **Fund-raising**
The funds raised by the charity are set out on page 6 of the financial statements.
## **Resources expended and services**
The resources expended are set out on page 6.
2
**THE CHARING CROSS CENTRE TRUSTEES’ REPORT (Continued)**
## **Reserves**
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately twelve months of unrestricted charitable expenditure (£105,000). In addition, the trustees have set aside sufficient funds to support the purchase of the freehold property (£73,265) and to set up a fund of £209,000 in respect of future major repairs which may be required to the freehold property, based on quotes obtained.
The actual level of reserves at 31 March 2025 is in excess of this policy.
## **Governance and internal control**
The charity comprises a panel of existing trustees who are nominated for re-election annually. The trustees meet at least 6 times per year to review the charity’s performance. New trustees are appointed by the appropriate resolution prior to the Annual General Meeting.
The trustees review the financial and other affairs of the charity throughout the year and review the charity’s investments, reserves and risk management ensuring all necessary controls are implemented.
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:-
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis.
The trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provision of its constitution document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Risk management**
The trustees carried out a detailed review of the risks to which it was exposed. The trustees monitor these risks at their regular meetings and review the overall risks annually. As part of this process the trustees have implemented a risk management strategy which comprises:
- annual review of the risks which the charity may face;
- the establishment of systems and procedures to mitigate those risks identified; and
- the implementation of procedures designed to minimise any potential impact on the charity should any of these risks materialise.
3
## **THE CHARING CROSS CENTRE TRUSTEES’ REPORT (Continued)**
## **Employee involvement and employment of the disabled**
Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management.
The charity has implemented a number of detailed policies in relation to all aspects of personnel matters including:
- Equal Opportunities policy
- Health & Safety policy
In accordance with the charity’s equal opportunities policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the charity’s offices.
## **Accountants**
A resolution proposing that Stephenson Smart (East Anglia) Limited be re-appointed as accountants of the charity will be put to the Annual General Meeting.
This report was approved by the Board on 18 September 2025.
**Mr D Ford** (Chair)
4
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE CHARING CROSS CENTRE**
We report on the accounts of The Charing Cross Centre for the year ended 31 March 2025 set out on pages 6 to 13.
## **Respective responsibilities of trustees and independent examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission
- (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to our attention
## **Basis of independent examiner’s statement**
Our examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with our examination, no matter has come to our attention (other than that disclosed below):
- (1) which gives us reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 386 of the 2011 Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Stephenson Smart (East Anglia) Limited Queens Head House The Street Acle Norwich NR13 3DY**
Date: 18 September 2025
5
## **THE CHARING CROSS CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025**
|
**Unrestricted**
**Restricted**
**general fund**
**fund**
**£**
**£**
**Incoming resources**
Room hire
112,272
-
Office rent
55,647
-
Bank interest
1,684
-
Catering services
658
-
Office cleaning
765
-
Donations
2,517
-
**Total incoming resources available for**
**charitable purposes**
173,543
-
**Resources expended (note 4)**
**Governance**
3,303
-
**Charitable activities**
189,053
1,000
**Total resources expended**
192,356
1,000
**Net incoming / (outgoing) resources for the year**
(18,813)
(1,000)
**Unrealised market value adjustment**
**on investment assets**
2,803
-
**(**16,010)
(1,000)
**Fund balance brought forward 1st April 2024**
426,200
175,000
**Fund balance carried forward 31st March 2025**
410,190
174,000
The unrestricted general fund is made up as follows:-
**Designated funds**
- Purchase of property
73,265
- 12 months charitable expenditure
105,000
- Provision for major property repairs
209,000
387,265
**General fund**
22,925
410,190|**2025**
**Total**
**funds**
**£**
112,272
55,647
1,684
658
765
2,517
173,543
3,303
190,053
193,356
(19,813)
2,803
(17,010)
601,200
584,190
|**2024**
**Total**
**funds**
**£**
97,570
57,314
1,627
284
528
104
157,427
5,664
153,510
159,174
(1,747)
13,907
12,160
589,040
601,200|
|---|---|---|
6
**THE CHARING CROSS CENTRE BALANCE SHEET**
## **AT 31ST MARCH 2025**
|**Notes**
**Fixed assets**
Tangible fixed assets
5
Investments
6
**Current assets**
Debtors
7
Cash at bank and in hand
**Liabilities:**amounts falling due within
one year
8
**Net assets**
**Funds**
**Restricted funds:**
9
**Unrestricted funds:**
11
**Total funds**(page 6)|**2025**
**£**
**£**
246,085
217,006
463,091
17,786
107,696
125,482
4,383
121,099
584,190
174,000
410,190
584,190|**2024**
**£**
**£**
247,490
214,203
461,693
15,260
130,955
146,215
6,708
139,507
601,200
175,000
426,200
601,200|
|---|---|---|
Approved by the Board of Trustees on 18 September 2025 and signed on its behalf by:
## **Mr P Hunt** (Treasurer)
7
## **THE CHARING CROSS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025**
## 1. **Accounting policies**
1.1 The financial statements have been prepared in accordance with applicable accounting standards in the United Kingdom. A summary of the more important accounting policies of the charity, which have been applied consistently, is set out below.
## 1.2 **Constitution**
The financial statements are governed by the terms of the constitution as revised in 1987 and amended in 1999.
## 1.3 **Basis of accounting**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity has applied Update Bulletin 1 as published on 2 February 2016 and Update Bulletin 2 published on 5 October 2018.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) (second edition effective 1 January 2019) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid.
The financial statements are prepared in accordance with the historical cost convention, with the exception of investments which are included at market value.
## 1.5 **Funds**
- 1.5.1 All incoming resources are recognised once the charity has entitlement to the resources.
- 1.5.2 Total funds are analysed appropriately between restricted and unrestricted funds.
- 1.5.3 Liabilities and expenses of the charity have been allocated to the general fund by the trustees and the appropriate proportion recharged to the restricted fund.
- 1.5.4 Overheads and support costs have been allocated between charitable activity and governance.
## 1.6 **Tangible fixed assets and depreciation**
- 1.6.1 Depreciation is provided on the cost of tangible fixed assets, to write them down to their estimated residual values over their expected useful lives. The principal annual rates used for the assets are:-
Freehold property buildings Equipment
1% straight line 20% reducing balance
8
## **THE CHARING CROSS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (Continued)**
- 1.6.2 The property is held as an asset used to assist the charity in the furtherance of its objectives by giving young people the opportunity to train in the administration of its letting activities. The cost of this asset is its purchase cost together with any incidental costs of acquisition. Any subsequent improvements will be added to the value of this asset should the trustees consider that they will enhance the rental or capital value of the property. Other costs incurred, which in the trustees' opinion are not expected to generate future rental income or increase the property's capital value, will be written off against the appropriate fund.
1.7 Any information technology equipment and associated peripherals are written off in the year of purchase on the basis they have a limited residual sale value.
## 1.8 **Investments**
Investments are stated at market value of the balance sheet date. The SOFA includes the adjustment to reflect market value at the year end.
## 1.9 **Cash at bank**
Cash at bank includes cash and highly liquid deposit accounts.
## 1.10 **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist.
## 2. **Net incoming resources**
Net incoming resources are arrived at after charging:-
## 3.
|Accountants remuneration
Committee expenses
**Staff costs**
Wages and salaries|**2025**
**2024**
**£**
**£**
1,764
1,200
350
350
**2025**
**2024**
**£**
**£**
91,292
80,530|
|---|---|
The average weekly number of employees during the year was made up as follows:-
|Office and management
Security|**2025**
3
2
5|**2025**
3
2|
|---|---|---|
|||5|
No employee earned £60,000 p.a. or more in either year.
9
## **THE CHARING CROSS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (Continued)**
## 4. **Allocation of resources expenditure**
|**Resources expended**
**Charitable expenditure-**
Wages
Cleaning
Telephone, post, and stationery
Repairs and renewals and building
maintenance contract
Sundry expenses
Audit and accountancy
Rates and water
Light and heat
Insurance
Depreciation|**Unrestricted**
**General**
**Fund**
**£**
**Governance**
**£**
**Charitable**
**Activities**
**£**
**Basis of**
**apportionment**
91,292
1,918
89,374
5% manager salary
10,871
-
10,871
3,564
178
3,386
5:95
61,732
-
61,732
4,073
204
3,869
5:95
1,764
-
1,764
1,053
53
1,000
5:95
15,608
780
14,828
5:95
1,994
100
1,894
5:95
405
70
335
5:95
192,356
3,303
189,053|
|---|---|
## 5. **Tangible fixed assets**
|**Cost**
At 1st April 2024 and at
31st March 2025
**Depreciation**
At 1st April 2024
Charge for year
At 31st March 2025
**Net book value**
At 31st March 2025
At 31st March 2024|**Freehold**
**Property**
**£**
282,465
35,000
1,400
36,400
246,065
247,465|**Equipment**
**£**
29,712
29,687
5
29,692
20
25|**Total**|
|---|---|---|---|
||||**£**
312,177|
||||64,687
1,405|
||||66,092|
||||246,085|
||||247,490|
10
## **THE CHARING CROSS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (Continued)**
## 6. **Investments**
|**Investments**|||
|---|---|---|
|**Market value at 31st March 2024**
Market value adjustment
**Market value at 31st March 2025**|**2025**
**£**
214,203
2,803
217,006|**2024**
**£**
200,296
13,907|
|||214,203|
The investment represents the CAF UK Equity Fund. The cost of the investment was £55,000.
## 7.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due.
|Debtors
Prepayments and other debtors|**2025**
**£**
14,295
3,491
17,786|**2024**
**£**
12,516
2,744|
|---|---|---|
|||15,260|
## 8. **Liabilities falling due within one year**
Creditors with no stated interest and payable within one year are recorded at transaction price.
|Creditors and accruals|**2025**
**2024**
**£**
**£**
4,383
6,708|
|---|---|
11
## **THE CHARING CROSS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025**
**(Continued)**
## 9. **Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of grants held on trust to be applied for specific purposes:-
|||**Balance**|**Incoming**|**Repayment/**|**Balance**|
|---|---|---|---|---|---|
|||**31st March 2024**|**resources**|**Expenditure 31st March 2025**||
|||**£**|
**£**|
**£**|**£**|
|Freehold property fund (Note|9.1)|175,000|-|1,000|174,000|
|||175,000|-|1,000|174,000|
- 9.1 During the 1999 year the charity purchased freehold property, used for charitable purposes, with the assistance of grants received from:-
|Norwich Consolidated Charities
National Lottery Charities Board|**£**
50,000
150,000|
|---|---|
||200,000|
Both grants were restricted wholly for the purpose of purchasing the property. The trustees must consult the National Lottery Charities Board if they wish to sell the property within 80 years of purchase. The fund is reduced each year by an amount equivalent to the depreciation.
## 10. **Unrestricted funds**
The trustees consider it prudent that the unrestricted reserves should be sufficient:
- (a) To avoid the necessity of realising fixed assets held for the charities use (£73,265);
- (b) To cover one year’s administration, overhead and support costs (£105,000);
- (c) To provide a maximum pool equal to £209,000 to cover future major items of property expenditure based on quotes from suppliers.
The unrestricted reserves are currently above that range by approximately £23,000.
The trustees are constantly looking at further opportunities to contribute to projects that are compatible with the charity’s objectives.
12
**THE CHARING CROSS CENTRE NOTE TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (Continued)**
## 11. **Analysis of net assets between funds reduced each year by an amount equivalent to the depreciation**
|Fund balances at 31 March 2025
are represented by:-
Tangible fixed assets
Investments
Current assets
Current liabilities|**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
72,085
174,000
217,006
-
125,482
-
(4,383)
-
410,190
174,000|**Total**
**funds**
**£**
246,085
217,006
125,482
(4,383)|
|---|---|---|
|||584,190|
13