**Charity registration number 518451**
**Company registration number 02048091 (England and Wales)**
**WHITBY AREA DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **WHITBY AREA DEVELOPMENT TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees report|2 - 6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Statement of financial position|9 - 10|
|Notes to the financial statements|11 - 22|
## **WHITBY AREA DEVELOPMENT TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Sir Frederick Strickland-Constable||
|---|---|---|
||Niall Carson||
||John McEachen||
||Les Overton||
||Susan Boyce||
||Mr M Watt|(Appointed 9 December 2022)|
||Mrs D Watt|(Appointed 9 December 2022)|
|**Secretary**|Celia Imogen||
|**Key management personnel**|Celia Imogen||
|**Charity number**|518451||
|**Company number**|02048091||
|**Registered office**|The Coliseum Centre||
||Victoria Place||
||Whitby||
||YO21 1EZ||
|**Independent examiner**|N Clemit ACA, FCCA||
||JWPCreers LLP||
||Chartered Accountants||
||Genesis 5||
||Church Lane||
||York||
||YO10 5DQ||
|**Bankers**|Unity Bank Plc||
||Nine Brindley Place||
||4 Cozells Square||
||Birmingham||
||B1 2HB||
- 1 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Companies Act 2006 and "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 published in October 2019."
The legal and administrative information page forms part of this report.
## **Introduction**
As a multi-purpose ‘community anchor’ charity, most of the needs to be addressed arise from the isolated rural nature of the charity’s area of operation. It is very sparsely populated with only 25,000 inhabitants: half in Whitby town and half scattered across several hundred square miles of the northern half of the North York Moors National Park, around the Esk valley. There are no remaining local bus services in much of the National Park area served, compounding the usual rural difficulties of access to education, work and services. Over a third of all residents are age 60 or above and a third of households have a single occupant. A high proportion of the community is at significant risk of social exclusion.
The Whitby travel-to-work area is characterised by high levels of self-employment; one-person businesses; working from or at home; and a few small employers. The existing enterprise profile is unlikely to generate significant job growth. In comparison with national and regional averages, the area served has a high proportion of the working age population with no or few educational qualifications; and a high proportion of low income households. The very strong demand for second / holiday homes in the area, together with very limited new housing development within the National Park, results in severe problems of housing affordability and availability.
## **History of the Charity**
## **Mission:** “ _Helping people to help themselves and each other_ ”
Originally known as Whitby Network, the charity has been serving the local community since 1984, starting with an Advice Centre and evolving to meet a wide range of community needs. In 1998 it purchased the redundant Coliseum cinema building, which is centrally situated next to the bus and train stations in Whitby. The Coliseum was converted to a community centre, which also incorporates selfcontained residential accommodation for adults with learning difficulties. The Coliseum Centre offers a variety of high quality office space, meeting, lecture and assembly rooms, together with the community café, theatre, and internet café.
The charity became the Whitby Area Development Trust in 2011, when Whitby Network merged with the Whitby Area Community Development Trust, a company limited by guarantee formed in 2007. The Community Development Trust had a greater focus on environmental and sustainability issues across the Whitby Area and a wider community involvement from the rural areas. Accordingly, the merged charity secured the approval of the Charity Commission, to adopt new objects covering rural and urban regeneration.
- 2 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Objectives and activities**
The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular in the Whitby district and surrounding area) by all or any of the following means:
- a. the relief of financial hardship;
- **b.** the relief of unemployment;
- c. the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
- d. the creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
- e. the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing;
- f. the maintenance, improvement or provision of public amenities;
- g. the preservation of buildings or sites of historic or architectural importance;
- h. the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities;
- i. the protection or conservation of the environment;
- j. the provision of public health facilities and childcare:
such other means as may from time to time be determined by the trustees.
## **Achievements and performance**
The financial results for 2022 are broadly stable, despite the impact of the Covid-19 pandemic, the increased cost of living and building developments at the Coliseum. Public events and community activities in the Coliseum Centre continue to develop and work is ongoing to continue to rebuild customer and service user participation.
The charity also continued to receive rental income from our residential tenants in the Penthouse and Crow’s Nest personalised, supported-living accommodation.
Trustees continue to review future development strategy in the light of the significant rise in the cost of living trends and likely societal changes.
The Development Trust will continue to contribute research papers to local government policy consultations, to ensure that particular issues affecting the Whitby area are given full consideration. The re-organisation of local government in North Yorkshire during 2022-23 is expected to bring significant change. The Trust will support campaigns to ensure that local needs are fully represented and thus recognised by the relevant statutory authorities, particularly in relation to housing, mental health services, and hospital services.
- 3 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Review of the Charity’s Usual Areas of Activity**
## **A) Coliseum Services**
The Coliseum Centre may be compared to a village hall on a larger scale. Located in the town centre, adjacent to the bus and train stations, it offers a wide range of services to the local community, from basic travel information to IT courses, or just a space to meet up for coffee.
## **B) Tenancies**
## **Community Café**
The Community Café is operated during the day by Dalewood Trust, who offer work-based activities for people with learning difficulties. They cater for users of the building and the wider local community, by offering meals and snacks at reasonable prices.
## **Community Space Hire:**
Fully-serviced office space and meeting rooms are available on a session hire basis and the Trust continues to build community space hire and encourage services and support organisations to the area. This facility is widely used by local not for profit organisations and statutory services and the Trust continues to promote support and accessibility for the community. The Internet Café continues to provide amenities and support for individuals and groups.
Full time tenancies are also available with long term leases for first floor serviced offices as are commercial lettings.
## **Residential Accommodation:**
The Trust provides self - contained, supported residential accommodation within the Coliseum for up to eleven adults with learning difficulties and, in some cases, mental health needs.
The service focuses on promoting recovery, well - being and greater independence. This enables service users to make progress in these areas by recognising and building on their strengths, coping abilities, social networks and natural support systems.
Creative Support, an industrial and provident society, provides the 24-hour personalised support needed by our Penthouse tenants. As their landlord, the Trust encourages and welcomes our tenants to participate in the social, cultural and educational opportunities on offer in the Coliseum Centre and wider area.
Accommodation is provided in three self - contained apartments: The Penthouse, Crow’s Nests and The Quarterdeck (opening early 2023) The Quarterdeck renovation has experienced budget variations due to the cost of living increases and difficulty in accessing trades in the local area. However, the apartment will open shortly to provide enhanced support and a high quality standard of living for two service users in a small, self - contained unit.
The Trust continues to upgrade facilities and energy options to provide the best possible standard of accommodation.
## **C) Recycling Services**
The Network Shop is situated in Whitby town centre and sells donated items of used furniture and household items. It differs from most charity shops in that it is not intended as a fund-raising activity, but as a charitable activity. It relieves financial hardship by assisting lowincome families to meet their household needs at low cost and safely. All upholstered items must bear Fire Safety regulation labels and all electrical goods are PAT tested before sale.
The service also helps to safeguard the environment. The area served has a high proportion of self-catering holiday accommodation, which is frequently refurbished to maintain its market appeal. Many discarded household items, still in good condition, would otherwise be sent to landfill. Unfortunately, the NYCC Landfill Tax Credit scheme has been withdrawn, leading to a loss of income to support the service.
The shop aids social inclusion and provides training towards employment opportunities. It is staffed by volunteers, some of whom have issues which prevent them from securing paid employment. By acquiring customer service skills and basic stock recording – plus a good attendance record – some shop volunteers are helped to progress to paid employment. Others derive on-going benefit from the dignity, social contact, feeling of self-worth and self-respect gained by being a valued member of the shop’s team of volunteers.
The Network Shop is steadily rebuilding it’s customer base and continues to provide high quality goods at affordable prices.
- 4 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **D) Arts & Events**
The events programme provides opportunities for everyone in the community to enjoy a wide variety of cultural activities, as an audience member or participant.
In September 2022 the Trust a new project ‘Thursday at the Coliseum’ an arts and events project to help combat loneliness and isolation and promote social engagement and opportunities for volunteers. The weekly theatre programme of matinees and evening performances offers a wide range of screenings, reminiscence activities, live small - scale theatre, NT Live, music theatre and popular arts events.
The Events programme also hosts regular comedy night performances, host festival events and a wide range of performances and presentations by local community groups and individuals.
The theatre venue also hosts the regular meetings of the local Civic Society, Art Society, U3A, Community Network and other networking and local meetings. Our staff provide a licensed café-bar for evening events, when appropriate. Group catering is also available.
## **E) Larpool Walled Garden**
The Trust has identified the walled garden as an area for development and in May 2022 volunteers and service users began work to restore this neglected site. The project provides a safe and supportive environment for vulnerable adults. Volunteers and service users can self - refer or the Trust accepts referrals from statutory and third sector organisations.
All volunteers and service users are registered and complete induction training before attending the garden. The Trust runs two sessions a week, hosts regular event days, public presentations and works in partnership with three local organisations.
The project offers the opportunity to grow and harvest a wide range of fruit, vegetables and cut flowers, gradually renovate the neglected heritage orchard, develop knowledge, understanding and skills to promote wild life, participate in well -being activities and use the garden as a wild working space.
The Walled Garden volunteers/service users and volunteer Advisory Group are able to use the Coliseum Centre facilities for planning, events and social meetings throughout the year.
## **Volunteers**
The ethos of this charity is to encourage and support people to recognise that everyone has a valuable contribution to make to their own community. A very high proportion of our work is undertaken by volunteers, who are people of all ages, from all walks of life, and with all levels of physical and cognitive abilities.
In 2022 the Trust began to recruit more volunteers to provide both regular and occasional event support and are pleased to see our volunteer numbers increase to over 35 people during the year. Our staff, trustees and professional advisors also contribute significant voluntary effort.
**The Whitby Area Development Trust would like to express their gratitude and thank each and every one of our supporters and volunteers. Your assistance and enthusiasm are truly appreciated.**
## **Financial review**
- **Policy on Reserves and Investments** The charity has no investments.
Free reserves (general funds less fixed assets less commitments) are -£28,113 (2021:£19,475) these have fallen due to increased investment in fixed long-term assets as part of the renovation of another residential accommodation. Free reserves before lease commitments are £49,074 (2021:£106,412) which would be the equivalent of 3 months’ normal operating expenditure. With these reserves and rent being a reasonable amount per year, this should safeguard its continued operation.
## **Risk Management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Trustees consider that infections post Covid pandemic poses the most significant risk to the charity, given that the Coliseum Centre is a public venue and a very high proportion of our users are elderly. Most of our residential tenants are vulnerable adults requiring 24-hour attended care. Health & Safety precautions are top priority for the foreseeable future.
- 5 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Structure, governance and management**
**Name:** The name of the organisation became the **Whitby Area Development Trust** on 16th March 2011. It was formed by merger of the Whitby Resource Centre, a registered charity (known under the name “Whitby Network”) with the Whitby Area Community Development Trust, a private company limited by guarantee.
**Legal Status:** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006 **.** The charity became a private company limited by guarantee ( **Company number 02048091** ) (England & Wales) on 9 August 1986 and was registered with the Charity Commission ( **Charity no. 518451** ) on 12 February 1987.
## **Governing**
**Documents** : Memorandum and Articles of Association incorporated 9th August 1986, as amended by special resolutions passed on the 23[rd] October 2009 and 16[th] December 2010. Charity and company name amended by Certificate of Incorporation issued 16[th ] March 2011.
**Organisation:** Day-to-day management of the charity is delegated to **Celia Imogen** , the Coliseum Manager, who is the **Chief Executive Officer** and Company Secretary.
The organisation is independent of any other charity or organisation and has no branches. It retains a wholly-owned subsidiary trading company which has been dormant since 2003. The charity rents shop premises in Whitby and owns the freehold of the Coliseum Centre building, which provides office, residential and community space. Serviced office space in the Coliseum Centre is available for rent by not-for-profit organisations whose activities promote and complement the objects of the charity.
**VAT registration:** Registration No: 602231600
**Company Secretary:** Celia Imogen, appointed 01.01.22
**Key Management Personnel:** The Charities’ Key Management Personnel consist of the Trustees & company secretary.
**Trustee Meetings:** There were 4 full Trustee meetings during 2022.
**Trustee Selection:** Recruitment and appointment of new trustees: the Board identifies specific skill or representation gaps in the current board, then attempts to fill them from the local community by word of mouth; by inviting Coliseum Centre users to register such an interest; and by advertising in the newsletter of Community First Yorkshire. After eligibility checks, potential Trustees attend as nonvoters for several meetings before being invited to stand for election on a vote of the existing Trustees.
**Trustee Training:** New trustees are provided with an induction pack, which includes job descriptions of the various trustee roles and Charity Commission publications on the Duties of Trustees, etc. Trustees are expected to attend training courses and other training events offered locally by Community First Yorkshire and regionally by Locality (formerly bassac).
## **Funds held as custodian trustee**
The charity has acted as custodian trustee and as at the reporting date hold £1,000 in cash funds on behalf of Whitby Community Network, a local not-for-profit organisation that works towards advancing the community within the Whitby area.
The trustees report was approved by the Board of Trustees.
## L A Overton
Signed on 26/09/23 @ 14:58
Les Overton
## **Trustees**
25 September 2023
- 6 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF WHITBY AREA DEVELOPMENT TRUST**
I report to the trustees on my examination of the financial statements of Whitby Area Development Trust (the charity) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting 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 understanding of the financial statements to be reached.
## N P Clemit
Signed on 27/09/23 @ 08:12
## **N Clemit ACA, FCCA**
JWPCreers LLP Chartered Accountants Genesis 5 Church Lane York YO10 5DQ
Dated: 25 September 2023
- 7 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
715
-
Charitable activities
**4**
161,736
22,966
Other income
**5**
135
-
**Total income**
162,586
22,966
**Expenditure on:**
Charitable activities
**6**
196,721
11,661
**Net (expenditure)/income for**
**the year/**
**Net movement in funds**
(34,135)
11,305
Fund balances at 1 January
2022
1,080,957
3,230
**Fund balances at 31 December**
**2022**
1,046,822
14,535|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
715
266
-
184,702
168,269
-
135
25,640
-
185,552
194,175
-
208,382
177,478
1,761
(22,830)
16,697
(1,761)
1,084,187
1,064,260
4,991
1,061,357
1,080,957
3,230|**Total**
**2021**
**£**
266
168,269
25,640|
|---|---|---|
|||194,175|
|||179,239|
|||14,936
1,069,251|
|||1,084,187|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 8 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Stocks
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after more than**
**one year**
**15**
**Net assets**
**Income funds**
Restricted funds
**17**
Unrestricted funds
General unrestricted funds
Revaluation reserve|**2022**
**£**
1,000
13,479
67,671
82,150
(19,322)
756,715
290,107|**£**
998,529
62,828
1,061,357
-
1,061,357
14,535
1,046,822
1,061,357|**2021**
**£**
210
13,849
112,590
126,649
(16,133)
790,850
290,107|**£**
976,671
110,516
1,087,187
(3,000)
1,084,187
3,230
1,080,957
1,084,187|
|---|---|---|---|---|
- 9 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **STATEMENT OF FINANCIAL POSITION (CONTINUED)**
## _**AS AT 31 DECEMBER 2022**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 25 September 2023
## L A Overton
Signed on 26/09/23 @ 14:58 Les Overton **Trustee**
**Company registration number 02048091**
- 10 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Whitby Area Development Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Coliseum Centre, Victoria Place, Whitby, YO21 1EZ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is 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 recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Expenditure is recognised 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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Allocations of shared support costs are made consistently on the following basis:
- a. Property-related costs such as utilities, maintenance services, reception and security staffing costs are allocated in proportion to the floor space occupied.
- k. Finance, IT and Human Resources costs are allocated according to the staffing time required for each activity area, taking into account each area’s volunteer and staff headcount; payroll, invoicing and cash handling requirements, etc.
- l. Finance charges and loan repayments are borne by individual activity areas where applicable. The loans from the Tees Valley Housing Trust and Quaker Housing Trust were incurred to provide the Penthouse and Crows Nest residential accommodation, so are allocated wholly to Tenancies.
- 11 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Expenditure on fixed assets costing more than £500 is capitalised. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Nil for Coliseum & straight line over 10 years for remaining Plant and equipment Straight line over 10 years Fixtures and fittings Straight line over 10 years Computers Straight line over 4 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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.
Shared support costs are allocated across expenditure and the basis can be seen in the expenditure accounting policy.
## **3 Donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|Donations and gifts|715|266|
## **4 Charitable activities**
|**Coliseum**
**Services**
**Recycling**
**Tenancies**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Grants
4,000
-
-
Donated
goods
-
19,677
-
Internet café
515
-
-
Room
rentals
18,998
-
-
Café bar
4,260
-
-
Rental income
-
-
114,286
27,773
19,677
114,286
Analysis by fund
Unrestricted
funds
27,773
19,677
114,286
Restricted funds
-
-
-
27,773
19,677
114,286|**Larpool**
**Garden**
**Thursday**
**afternoon**
**2022**
**2022**
**£**
**£**
16,966
6,000
-
-
-
-
-
-
-
-
-
-
16,966
6,000
-
-
16,966
6,000
16,966
6,000|**Total**
**2022**
**£**
26,966
19,677
515
18,998
4,260
114,286
184,702
161,736
22,966
184,702|**Total**
**2021**
**£**
35,336
10,346
337
6,599
495
115,156|
|---|---|---|---|
||||168,269|
||||168,269
-|
||||168,269|
- 13 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
- **4 Charitable activities**
**(Continued)**
|**Coliseum**
**Services**
**Recycling**
**Tenancies**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Grants
24,143
11,193
-
Donated
goods
-
10,346
-
Internet café
337
-
-
Room
rentals
6,599
-
-
Café bar
495
-
-
Rental income
-
-
115,156
31,574
21,539
115,156
Analysis by fund
Unrestricted
funds
31,574
21,539
115,156
31,574
21,539
115,156|**Larpool**
**Garden**
**Thursday**
**afternoon**
**2021**
**2021**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2021**
**£**
35,336
10,346
337
6,599
495
115,156|
|---|---|---|
|||168,269|
|||168,269|
|||168,269|
## **5 Other income**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|HMRC furlough grant|-|24,017|
|Other income|135|158|
|Gift aid|-|1,465|
||135|25,640|
- 14 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **6 Charitable activities**
|**Coliseum**
**Services**
**Recycling**
**Tenancies**
**Other**
**charitable**
**activities**
**Larpool**
**Garden**
**Expenditure**
**Thursday**
**Afternoons**
**Expenditure**
**2022**
**2022**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
**£**
Staff and volunteer costs
9,309
5,014
-
-
-
-
Direct costs
203
-
-
-
6,804
3,512
Office costs
46
38
-
1,670
-
-
Premises costs
9,661
12,881
40,897
966
-
-
Depreciation
3,773
-
1,986
-
-
-
Travel
3,505
-
-
-
-
-
26,497
17,933
42,883
2,636
6,804
3,512
Share of support costs (see note 7)
36,960
5,280
58,080
4,471
-
-
Share of governance costs (see note 7)
1,164
166
1,829
167
-
-
64,621
23,379
102,792
7,274
6,804
3,512
**Analysis by fund**
Unrestricted funds
63,276
23,379
102,792
7,274
-
-
Restricted funds
1,345
-
-
-
6,804
3,512
64,621
23,379
102,792
7,274
6,804
3,512|**Total**
**2022**
**£**
14,323
10,519
1,754
64,405
5,759
3,505
100,265
104,791
3,326
208,382
196,721
11,661
208,382|**Total**
**2021**
**£**
13,533
1,133
948
52,652
4,911
1,640|
|---|---|---|
|||74,817
98,883
5,539|
|||179,239|
|||177,478
1,761|
|||179,239|
- 15 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **6 Charitable activities**
## **(Continued)**
## **For the year ended 31 December 2021**
|**Coliseum**
**Services**
**Recycling**
**Tenancies**
**Other**
**charitable**
**activities**
**£**
**£**
**£**
**£**
Staff and volunteer costs
8,798
4,735
-
-
Direct costs
717
-
-
416
Office costs
28
24
-
896
Premises costs
7,898
10,530
33,434
790
Depreciation
3,306
-
1,605
-
Travel
1,640
-
-
-
22,387
15,289
35,039
2,102
Share of support costs (see note 7)
34,609
4,944
54,386
4,944
Share of governance costs (see note 7)
1,939
277
3,046
277
58,935
20,510
92,471
7,323
**Analysis by fund**
Unrestricted funds
57,590
20,510
92,471
6,907
Restricted funds
1,345
-
-
416
58,935
20,510
92,471
7,323
**Support costs**
**Support costs**
**Governance**
**costs**
**2022 Support costs**
**Governance**
**costs**
**£**
**£**
**£**
**£**
**£**
Staff costs
100,484
-
100,484
94,199
-
Printing, postage and
stationery
1,477
-
1,477
1,138
-
IT costs
1,702
-
1,702
2,225
-
Bank charges
391
-
391
416
-
Professional fees
452
-
452
629
-
Accountancy fees
285
-
285
276
-
Accountancy fees
-
3,326
3,326
-
5,539
104,791
3,326
108,117
98,883
5,539
Analysed between
Charitable activities
104,791
3,326
108,117
98,883
5,539|**Total**
**2021**
**£**
13,533
1,133
948
52,652
4,911
1,640|
|---|---|
||74,817
98,883
5,539|
||179,239|
||177,478
1,761|
||179,239|
||**2021**
**£**
94,199
1,138
2,225
416
629
276
5,539|
||104,422|
||104,422|
**7 Support costs**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
**8 Trustees**
- 16 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **9 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2022**
**Number**
5
**2022**
**£**
107,418
3,810
3,582
114,810|**2021**
**Number**
5|
|---|---|---|
|||**2021**
**£**
101,186
3,418
3,125|
|||107,729|
There were no employees whose annual remuneration was more than £60,000.
## **10 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**£**
**£**
**Cost or valuation**
At 1 January 2022
969,869
17,342
102,679
12,112
Additions
26,524
-
1,092
-
At 31 December 2022
996,393
17,342
103,771
12,112
**Depreciation**
At 1 January 2022
7,583
7,953
97,683
12,112
Depreciation charged in the year
2,439
1,431
1,888
-
At 31 December 2022
10,022
9,384
99,571
12,112
**Carrying amount**
At 31 December 2022
986,371
7,958
4,200
-
At 31 December 2021
962,286
9,389
4,996
-|**Total**
**£**
1,102,002
27,616|
|---|---|
||1,129,618|
||125,331
5,758|
||131,089|
||998,529|
||976,671|
Land and buildings with a carrying amount of £900,000 were revalued in November 2016 by BHD Partnership Ltd, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
- 17 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **11 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2022**
**£**
8,589
4,428
462
13,479|**2021**
**£**
10,844
2,411
594|
|||13,849|
## **12 Contingent assets**
An insurance offer for damages has been proposed for £35,000. This figure is liable to change from a counter-offer and has not yet been received.
## **13 Loans and overdrafts**
|**Loans and overdrafts**|||
|---|---|---|
|Other loans
Payable within one year
Payable after one year
**Creditors: amounts falling due within one year**
**Notes**
Borrowings
Other taxation and social security
Deferred income
**16**
Trade creditors
Accruals and deferred income
**Creditors: amounts falling due after more than one year**
Borrowings|**2022**
**£**
3,000
3,000
-
**2022**
**£**
3,000
2,141
1,794
5,109
7,278
19,322
**2022**
**£**
-|**2021**
**£**
6,000|
|||3,000
3,000|
|||**2021**
**£**
3,000
2,278
1,750
3,546
5,559|
|||16,133|
|||**2021**
**£**
3,000|
## **14 Creditors: amounts falling due within one year**
## **15 Creditors: amounts falling due after more than one year**
- 18 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **16 Deferred income**
|**2022**
**£**
Opening balance
1,750
Amount released to income in the year
(1,750)
Amounts deferred in the year
1,794
1,794|**2021**
**£**
875
(875)
1,750
1,750|
|---|---|
- 19 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **17 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|
||**Balance at**|**Income**|**Expenditure**|**Transfers**|**Balance at**|
||**1 January 2022**||||**31 December**|
||||||**2022**|
||**£**|**£**|**£**|**£**|**£**|
|Auditoruim seating|1,150|-|(1,150)|-|-|
|Projection equipment|976|-|(195)|-|781|
|Social inclusion events|250|-|-|-|250|
|Pilates class|270|-|-|-|270|
|Larpool|584|16,966|(6,804)|-|10,746|
|Thursday at the Coliseum|-|6,000|(3,512)|-|2,488|
||3,230|22,966|(11,661)|-|14,535|
|||**Movement in funds**||||
||**Balance at**|**Income**|**Expenditure**|**Transfers**|**Balance at**|
||**1 January 2021**||||**31 December**|
||||||**2021**|
||**£**|**£**|**£**|**£**|**£**|
|Auditoruim seating|2,300|-|(1,150)|-|1,150|
|Projection equipment|1,171|-|(195)|-|976|
|Social inclusion events|250|-|-|-|250|
|Pilates class|270|-|-|-|270|
|Larpool|1,000|-|(416)|-|584|
||4,991|-|(1,761)|-|3,230|
Auditorium seating fund:- represents monies granted by the Arts Council and has been spent on seating capitalised in fixed assets. The expenditure above is that of the respective depreciation.
Projection equipment fund:- represents monies donated by the British Film Institute spent on projection equipment and capitalised in fixed assets, the expenditure above is that of the respective depreciation.
Social inclusion events fund:- represents monies donated by Whitby Co-op to be spent on the promotion of social inclusivity in the local area.
The Pilates class fund:- represents monies received from participants of the pilates class.
The Larpool fund:- represents monies received from the Normandy Charitable Trust for expenditure on the Larpool Walled Garden development, creating environmentally sustainable outdoor work opportunities for disadvantaged groups.
Thursday at the Coliseum fund:- represents monies received from NYCC Stronger Communities and the Normanby Charities Trust for providing weekly cultural performances and events.
- 20 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **18 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31 December 2022 are represented by:
Tangible assets
997,748
781
Current assets/(liabilities)
49,074
13,754
1,046,822
14,535
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31 December 2021 are represented by:
Tangible assets
974,545
2,126
Current assets/(liabilities)
109,412
1,104
Long term liabilities
(3,000)
-
1,080,957
3,230|**Total**
**2022**
**£**
998,529
62,828|
|---|---|
||1,061,357|
||**Total**
**2021**
**£**
976,671
110,516
(3,000)|
||1,084,187|
## **19 Operating lease commitments**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under operating leases, which fall due as follows:
|Within one year
Between two and five years
In over five years|**2022**
**£**
9,750
39,000
28,437
77,187|**2021**
**£**
9,750
39,000
38,187|
|---|---|---|
|||86,937|
## **20 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Remuneration|33,584|-|
- 21 -
## **WHITBY AREA DEVELOPMENT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **21 Subsidiaries**
The Coliseum Trading Company Limited (Company number 03733657) is a wholly-owned trading subsidiary, first registered on 16 March 1999. The Company has been dormant since 2003.
- 22 -