REGISTERED COMPANY NUMBER: 01769840 {England and Wales) REGISTERED CHARrfy NUMBER: 514717 Report of the Trllstees And UDaydited Financial Statements for the Ye%r Ended 31 March 2021 for Newburn Riverside Recreation Associatio Limited Peter Weldon & Co. Ltd 87 Station Road Ashington Northumberland NE63 8RS 11 JA?X9149 2311212021 COMPANIES HOUSE A40
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Newburn Riverside Recreatiots Asg0¢iation Limited CoDtents of the Financial Ststements for tbe Year EDd¢d 31 March 2021 Page Report of the Truslees I to 4 Independen¢ ExamiDer's Report Ststement of Fits*n¢ial Artbvities B2laDte Sheet .7 to 8 Notes to the Fillantial Statements 9 to 16 Detailed St2teTnent of Financial Activitiey 17
Newburn Riverside Recreglion A&gociation Limiied Report of the Trustees for the Ye*r Ended 31 March 2021 The trustees who are also directors of ihe charity for the purposes of the Companies Act 2006. present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Aceounting and Rewrting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rep)rting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). The charity exists for the benefit of the public through th¢ provision of its services to any member of the public, and the trustees have considered the Charity Commission's guidance on public benefit. The charitys puryM)se as set out in the objects contained in the CoMpanS Articles of A$slation is to: promot¢ the benefit of the inhabilants of Tyne and.wear and th¢ NeighiM)urh(M)d (hereinafter called the "area of benefit" by the provision of the facilitie5 in the intsrests of social welfare for recreation and other leisure time occupation with the object of improving the life for the beneficiaries. and provide improvement and maintenance of the OundS and buildings at Newburn i£isure C¢ntre for the purpose of recreation and other leisure time LKcupation with the object of improving the conditions of life foT the beneficiaries. Newburn Leisure Centre has developed a wide rdnge of activities to meet these objectives based upon the following facilities available to the publi¢= * Indoor sports hall * Fitness facilities * Sensory roomlTntera¢tive Room * Indoor climbing wall * Outdoor sports fiekl * Outdoor S-a-sid¢ courts * Water based activities on adjacent River Tyne Outdoor activities in adjacent Newburn Countryside Patk Newbum Leisure Centre became independent from an integrnted venture with Newcastle City Council on I April 2015. The organisational Structure, management and operations are well established and the centre is operating at a sirnilar level prior to the chan8eover. The aim of the charity is to be self-financing and promote the long temi security of the centre. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what artiviti¢s the charity should undenake. ACHIEVEMENT AND PERFORMANCE Budgets The forecasted income and expenditur¢ for 2020r21 did JK)t mat¢rialis¢ at th¢ l¢v¢l anticipat¢d du¢ to ronavirus restrictions. The renewal of gymnasli¢s ¢ours¢s. via sports hall hire, rnther than individual payments and direct employe¢ numberslcosts, has simplified the staffing and other resources to the economic benefit of the operations. Page I
Newburn Riverside Recreation AssociatiOD Limited Report of the Trusteey for the Ye•r Ended 31 Mareh 202] ACHtEVEMENT AIYD PERFORMANCE Targe¢$ The primary target was to for¢ andlor address the continuing implications of Newcastle City Counctl grant withdrdwal and position the Centre finances and operation Structure for the immediate, medium and long ierni future. In thi5 respect perrnanent changes to opening ttmes and staff working hours have been implemented in 202I122. Activities There is a wide rdnge of activities related to the facilities available. Accurate records of users are kept as part of the review of ongoing operations. The future perfomiance of the group will b¢ influenced by the consolidation of core activities. Futire developments Initial proposals for a range of future facility developments at the Centre remain in place and the group continues to seek grants for upitsl developmenL equipment and revenue activities. In 2020121 some rninor improvements were achieved. Equipment for various activilies was also replaced andlor enhanced. FINANCIAL REVIEW Financial positiott During the year ended 31st March 2021 the net assets of Newburn Riverside Recreational AsKlatIOn decrea%d by £73.877 (2020.. £97.276). Total funds at the year<nd were £1,659.461 (2020: £1.733.338). The trading aspecL that is the activities undertaken at the Centrc. remains broadly constant although there ar¢ a number of different "one events thai occur each year. Th¢ number and variety of activities is extensive and usagelincome fluctuates year on year between the activities. The C¢ntr¢ is run by the charitys tradin8 subsidiary. Newburn SpoTts S¢rvice5 Limited. Investment poliey 2nd objectives The trustees consider the most appropriate policy of inv¢sting funds at the current time is to retain an increasing level of funds on dewsit. The trustees have assessed the major pre Covid-19 risks to which the charity is exposed and are satisfied that systems are in place to migrate exposure to the major risks. Rderves poliey Th¢ trustees believe it is prudent to maintain unrestricted fvnds at a level, whi¢h ¢quat¢5 to approximately 6 months unrestricted eXpendIty being £366.000. At the year end these totslled £1.659,461 (2020.. £1.733.338)- STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng dtseument Newburn Riverside Recreation Association Limited is a company limited by guarantee. and a r¢gistered charity in England gov¢m¢d by its m¢morandum and articles of association dated I l March 1996. Charity number 514717. Company number 01769840. The company has no share capital. Recrnitm¢Dt and appoiDtment ofirwst The Board of Trustees shall consist of not less than 3 and is not subject to a m&Kimum. Trnstees are appointed at th¢ annual general meeting or during the year to fill a vacancy however they will only hold office until the next annual general meeiing if they are not re-appointed ai that Meeting. Pa8e 2
Newburn Rivernide Retreation Assoeiatiott Limited Rewtyrt of ibe Trnstees for the YeaT Ended 31 MAr¢h 202A ' STRUCTURE, GOVERNANCE AND MANAGEMENT Organisation The Board of Trustees meet on a monthly basi5 to administer the charity and io review strategy and fure operdtion requirements. The charity Comprises of the provision of a recreation Centre for all ag¢s within Tyne & Wear through its subsidiary N¢wbern StKirts Services Limited. The subsidiary company operntes the sports centre. Newburn Leisure Centre is open 7 days a week (excluding public holidays and a Chrisknas closur¢ period). The day to day management of the Centre. site activities. staff. facility resources and operational aspects is the responsibility of the mana8¢ment staff wmprising the Centr¢ Manager and Duty Managers. The Centre management staff report to and consult the Company Secretary on discretionary sp¢ndin8 etc. and issues arising at the Centre that require exec1ve1aUthority. The Centre Manager and Company Secretary meet on a regular basis between the monthly management meetings. Induction and trninillg of Dew trustees New Trustees receive copies of all relevant documentation. which are explained by the chair. This will include the ¢onstitytion. or8anisation manag¢m¢nt inforniation relatin8 to their role. the scope and resp)nsibility of the Board and the system of delegated authority and inforniation about the Cycle of meetings. OprA)rtunitie5 for meeting staff are also arranged. Pgy policy for key manggement personnel The trustses consider key mgement Comprise the charity's trtle¢S who are in ¢harg¢ of dir¢ctin8 and controllin& running and operating the charity on a day to day basis. Details of trustee's remuneration and. expenses are disclosed in the notes to the accounts. The pay of the trustees is review annually. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01769840 {En8land and Wales) Registered Cb*rffity number 514717 Registered office Newburn Leisure Centr¢ Grange Road, Newburn Newcastle Upon Tyne Tyne &Wear NE15 8ND Trustees W Shaw Quantity Surveyor J F Lambert Quantity Surveyor L I Wright Finance Administrator E A Whittaker Retired M Hogarth Postal Worker M H Townson Retired Engineer Company Secretary J F Lambert Page 3
Newburn Riverylde Reereatiom As$•ation Limited Rert of the Trustees for tbe Year Ended 31 March 2021 Independent Examiner Peter Weldon & Co. Ltd 87 Station Road Ashin8ton Northumberland NE63 8RS Approved by order of the bjard of trustees on 20 December 2021 and signed on its behalf by: W Shaw - Trustee Page 4
IodepeDdent Examioer's Report to the Truste of Newburn Rivenide Recreation Associalion Limited Independent examiner's report to tbe Irws¢ees of Newburn Riverslde Recreation Associa¢ion ('¢be Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March2021. Responsibilities and bgsis of report As th¢ charity's tnle¢S of the Company (and also its directors for the purposes of company law) you are responsible for ihe preparntion of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 2006 Act). Having satisfied myself that the accounts of the Company are not required to be auditd under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under seclion 145 of the Charities Act 2011 Cthe 2011 Act,). Rn carrying out my examinalion I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiller's gtstement I have MPleted my eLvnination. I confirm that no matter5 have Come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination" or the accounts have not been prepared in accordance with the methcds and principles of the Statem¢nl of Rewmmended Pra¢tic¢ for oUnting and Teporting by charities (applicable to charitie5 prewing their aoUntS in accordance with the Financial Reprtin8 Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsndin8 of the accounts to b¢ reached. 4(4 Peter Weldon ACA Peter Weldon & Co. Ltd 87 Station Road Ashington Northumberland NE63 8RS 20 December 2021 Page 5
Newburn Riverside Recreation knociatioll IAmited Statement of FiDAUtial Activities for tbe Year Ended 31 March 2021 2021 Unrestricted funds 2020 Tolai fund8 Notes INCOME AND ENDOWMEIYTS FROM Donations and legacies 35,863 19,9(Ki Other trading activities Investment income 31.659 ,370 31,659 1.806 Total 68.892 53,365 EXPENDITURE ON Raising funds 139.619 147,154 Other 3.150 3.487 Total 142,769 150,641 NET INCOMEI(EXPEIYDrruRE) {73.877) (97.276) RECONCILIATION OF FUNDS Total funds brought forward 1,733,338 1,830,614 TOTAL FUNDS CARiUED FORWARD 1.659.461 1.733,338 The notes fomi part of these financial statements Page 6
ewburn Riverside Recreation Assotiation IAmited Balance Sheet 31 Marth 2021 2021 Unrestricted funds 2020 Total fynds Noles FIXED ASSETS Tangibl¢ ass¢ts Investmenis 1,366,645 1,498,669 1.366.647 ,498,671 CURRENT ASSETS Debtors Ch at bank 10 282,654 238.806 185,356 240.551 521.460 425,907 CREDITORS Amounts falling due within on¢ y¢ar li (24,715) (12.408) NET CURRENT ASSETS 496.745 413,499 .TOTAL ASSETS LESS CURRENr 1.863,392 1.912.170 CREDrroRS Amounts falling due after more than one 12 (203,931) (178,832) ET ASSETS .659.461 1.733.338 14 Unrestricted funds 1.659.461 1.733.338 TOTAL FUIYDS .659.461 1.733.338 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The rnembers have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. The notes forn] part of th¢s¢ financial stst¢mcnts Page 7 onlinu¢d...
Newburn Riverside Recreation Association Limited BalaDce Sbeet- ¢ontimutd 31 March 2021 The trnstees acknowledge their res$1b11ItyeS for (a) ensuring that the charitable wmpany keeps accounting records that comply with Sections 386 and 387 of th¢ Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5 at the end of each financial year and of its surplus or deficit for each financial year in accordance with the rquirem¢nts of Sections 394 and 395 and which otherwise wmply with the requirements of the Companies Act 2(106 relating to financial Statefflen so far as applicable to the haritable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to thc small wmpanies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2021 and wer¢ signed on its behalf by: J F Lambert . Trustee W Shaw- Truste¢ The notes forni part of these financial ststements Page 8
Newburn Riyerylde Reereation Aswcialion Limited Notes to tbe FillaD¢ial Statemellts for the Year EDded 31 Mgrch 2021 ACCOiJNTING POLICIES Basis of prep¥ring the finaneial statements The financial statements of the Charitable wmpany. which is a public benefit cntity under FRS 102, have been prepared in aordanCe with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffKtive l January 2019),, Financial Rep)rting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of treland, and the Companies Act 2006. The financial slatements have been ppared under the historical cost convention, with the ¢xc¢ption of investments which arc included at market valu¢. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the nds. it is probable that the income will be [e1Ved and ihe amount can be measured reliably. Donatlolls #nd legacies Income from donations and grants that provide core funding or are of a general nature are recognised where there is entitlemeDL certainty of re¢eipt and the amounts can be Measur with sufficient reliability. Expenditure Liabilities are recognised as expenditure as soon as the is a legal or constructive obligation committing the Charity to that expenditure. it is probable that 8 transfer of economic benefits will be required in settlement and the amount of th¢ obligation can be measured reliably. Expenditure As accounted for on an accruals basis and has been classified under heading5 that aggregate all cost lated io the category. Vlhere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Governance costs Include those costs associated with me¢tin8 th¢ nStitUtiOnal and statrjtory requirements of the group and include aecountan¢y fees and costs linked to the strategic manag¢m¢nt of the group. Tangibk'fued ets Depreciation is provided at th¢ following annual rates in Order to write off each asset over it5 estimated useful life. Long leasehold Plant and machinery Fixtures and fittings 25-50 years straight lin¢ 2¢Y/ts on reducing balance per annum 150/• on reducing balance per annum Individual assets costing £50 or More are capitslised at cost. The gain or loss arising on the dis$&1 of an asset is detennined as the difference between the sale proceeds and the carrying value of the weL and is recognised in net in¢omel(exp¢nditure) for th¢ year. Subsequent COS including replacement part& are capitslis¢d only when it is probable that such costs will generale future economic benefits. Any replaced parts or remaining carrying amounts are then derecognised. All oiher costs of repairs and maintcnance ar¢ charges to the Statement of Financial Activities. Pag¢ 9 continued...
Newburn Riverside Recreation Association Limited Notes to the Fin*ncial Stst¢ments- eonlinued for Ihe Yr Ended 31 MArch 2021 ACCOUNTllYG POLICIES- ¢ontiDued TAxation The charity is exempt from COnrnI10n tax on its charitsbk activiti¢s. Fund accounting Unrestricted funds can be used in accordance with the eIlb]e objectives at the discretion of the trustees unless the funds have been designated for other pur[M>. Restricted funds can only be used for particular restrteted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purtrf)ses. Further explanation of the nature and purp)se of each fund is included in the notes to the financial ststements. DONATIOIYS AND LEGACIES Donations and legacies UnStrICted Funds Total 2021 Totsl 2020 Donations and gifts Grant release NCC Covid-19 grant 5,IKIO 14,900 14.900 20.963 14.900 20,963 35,863 35.863 19.900 2021 2020 Operation of Sports Centre 31.659 31,659 Page 10 continu...
Newbllrn Riverside Recre*tion AocIatIO Limited Notes to ihe Financial St2tements- continued for the Year Ended 31 Marth 2021 VESTMENT COmE 2021 2020 Deposit account interest 1.370 1,806 NET INCOMEI(EXPENDrruRE) Net inwm¢l(expenditure) is stated after chargIn(crediting). 2021 2020 Depreciation . owned assets 132,484 133,160 TRUSTEES, REMUNERATION AND BENEFITS There were no trnstees, remuneration or other b¢D¢fits for the year ended 31 March 2021 rkor for the year ended 31 March 2020. Truste&¥' expenses There were no trustees, expenses ld for the year ended 31 Mah 2021 nor for the year ended 31 March 2020. COMPAIiATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 19.900 Other trading activities Investment income 31.659 1.806 Total 53.365 EXPENDITURE ON Raising funds 147.154 3.487 Totsl 150,641 NET INCOMEIIEXPENDfnJRE) (97.276) Pag¢ll continued...
Newburn Riverside Recreation Assoeitio Limited Notes ts the Financial Stsiements- continued for the Yer EDded 31 M4r¢h 2021 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES. coDtiDued Ullrestricted funds RECONCILIATIOIY OF FUNDS Totsl fuDds broight forward 1,830.614 TOTAL FifNDS CARRIED FORWARD ,733,338 TANGIBLE FIXED ASSETS Fixtures and rittiop Pl%Dt and achiDery leasehold To¢als COST At l April 2020 Additions 3.625.749 460 308.644 54.084 3,988.477 460 At 31 March 2021 3.626209 308.644 54,084 3,988.937 DEPRECIATION At l April 2020 Charge for year 2.166.266 125.112 278.791 5.971 44.751 .401 2,489.808 132.484 At 31 March 2021 2,291,378 284.762 46,152 2,622,292 NET BOOK VALUE At 31 March 2021 1.334.831 23,882 7,932 1,366,645 At 31 March 2020 1.459.483 29,853 9.333 1.498,669 Pag¢ 12 continued...
Newburn Riverside Retreation Associgtion Limited Notes lo the FiDaDcial St*tem¢nts- continued for ibe Year Ended 31 March 2021 FIXED ASSET INVESTMENTS Shares in group undertakings Cost or Val110n As at l April 2020 & 31 March 2021 Carrying amouD¢ As at 31 March 2021 As at 31 March 2020 The charity has a wholty owned subsidiary, Newburn Sports Servi$ Limited. a company incorporated and registered in Eftgland and Wales (company number 02684100). Its registered office is Newburn l£i5ure Centre. Grange Road. Newburn. Newcastle upon Tyne. NEI 5 8BD. The company operates the SFK)rts centre Newbum i£isure Centre on behalf of the charity and pays it soffte of its profits to the charity by gift aid. Newburn srts Services Limit¢d 15 exempt from audit by virtue of 5479A of the Charities Act 2006. 10. DEBTORS: AMou[S FALLING DUE wrrHIN ONE YEAR 2021 2020 Amounts owed by group undertakings Other debtors Prepayments 282.054 427 173 185,056 127 173 282,654 185.356 Page 13 continued...
Newburn Riverside Recrerdtion Asso¢iatioD Limited Notes to the FiD%n¢ial Statements- eolltinued for the Year Ended 31 March 2021 11. CREDrroRS: AMOUNTS FALLING DUE wrrHtN ONE YEAR 2021 2020 Bank loans and overdrnfts (see not¢ 13) Trdde creditors Other creditors Accrued expenses 10,000 2.307 908 11.500 908 11.5 24.715 12,408 12. CREDITORS: AMOiJNTS FALLING DUE AFfER MORE THAN ONE YEAR 2021 2020 Bank loans (see note 13) Grant reserve 40,00 163.931 178,832 203.931 178,832 13. LOANS An analysis of the maturity of loans is given low." 2021 2020 Amounts falling due within one year on demand: Bank loans 10,000 Amounts fallin8 due between two and five years: Bank loans- 2-5 years 40.000 14. MOVEMEIYT IN FUNDS Net movemeDI in funds At 3113121 Ai 114120 Unrestricted funds General fund .733.338 (73.877) 1.659.461 TOTAL FUNDS 1.733.338 (73,877) 1,659,461 Pa8¢ 14 continued...
Newb•rn Rivenide Recreation Assotiation 1MIted Notes to the Finallcirdl Sta¢emellts- conliDued for the Year Ended 31 Matth 2021 14. MOVEMENT IN FUNDS. ¢o*tinued N¢t movement in fund4 included in the ab)v¢ arc as follows: Ixtoming Resources Movement resources expended ID funds Unrestricted funds General nd 68.892 (142,769) (73.877) TOTAL FUNDS 68.892 (142.769) (73.877) comparativ for movemeat ID funds Net movemenl ID funds At 3113no At 114119 Unreg¢ri¢ted funds Genernl fund 1,830.614 (97.276) .733.338 TOTAL FUNDS 1.830.614 (97,276) 1,733.338 Comparative net rnovement in fund% included in the above are &$ follows.. IncomiDg Resovrces Movemeot eipeDded in fuDds Unrestricted fullds G¢n¢ral fund 53,365 (150,641) (97.276) TOTAL FUNDS 53.365 (15Q,641) {97,276) Page 15 ¢ontinued..
NewburD Riverside Reereation Associxlio Limited Notes to the FillaD¢ial St*temeDts- continlled for the Year Ended 31 Marcb 2021 14. MOVEM£NT IN FUNDS. ¢ODtinu¢d A current year 12 months and prior year 12 months Mbined wsition is as follows: Net movement ID funds At 3113121 At 114119 Unres¢ri¢¢ed fmnds General fund 1.830.614 (171.153) 1.659.461 TOTAL FUNDS .830.614 (171.153) 1,659,461 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are &$ follows: l•comillg Resources Movemenl re8our¢es expended in funds Unrestricted funds General fund 122.257 (293.410) (171.153) TOTAL FUNDS 122,257 (293.410) (171.153) 15. RELATED PARTY DISCLOSURES Included within debtors is an amount of £282,054 {2020: £185,056) owed by N¢wburn Sports Services Limited. a subsidiary of Newburn Riverside Recreation Limited. Rent of £31,659 (2020: £31.659) was paid to Newburn Riverside Recreation A$sl4t10n Limit during the year. Page 16
Newburn Riverside ReeTeation Aysoclatio Limited Detsiled Statement of Financial Activities for the Year Ended 31 Marth 2021 2021 2020 INCOME AND ENDOWMENTS Donalions albd legaei Donations and gifts Grants 5.(M)O 14,900 35.863 35.863 19,9(KJ Otber trading activities Operation of Sports Centre 31,659 31,659 Investment Imcome Deposit account interest 1.370 1.806 Totsl incoming resources 68.892 53.365 EXPENDITURE Other trndiDg activities Operation of the sports centre 213 292 Support costs Bank char8¢S Freehold property Plant and machinery Fixtures and fittings 92 125.112 5.971 ,400 108 125.096 6.417 1.647 132.575 133.268 Other Premises costs 6,831 13,594 Governallce costs Accountancy fees 3.150 3.487 Total resources expended 142.769 150,641 Ne¢ expenditure (73.877) (97.276) This page not form part of th¢ statutory financial statements Page 17