ARKWRIGHT MINERS’ WELFARE TRUST (REGISTERED CHARITY NUMBER 520403)
FINANCIAL STATEMENTS AND REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
ARKWRIGHT MINERS' WELFARE TRUST
FINANCIAL STATEMENTS AND REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
| CONTENTS | PAGE |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees' Report | 2-3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7-9 |
| SectionsAccounts | 10-11 |
ARKWRIGHT MINERS' WELFARE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
Registered Charity Number
520403
Address of Charity
- : Hardwick Drive New Arkwright Town Chesterfield $44 5BS
Trustees
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: Mrc Johnson .
-
Mrs E Johnson
Mr L Camacho (appointed 16 December 2024) Mr D Hadley (appointed 16 December 2024) Mr G Watts (resigned 28 October 2024) Mrs L Hopkinson (resigned 9 March 2025)
Bankers
- : Santander Business Banking Bridle Road Bootle Liverpool L30 4GB
Independent Examiner
: J Wallage FCA CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham $60 4JG
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ARKWRIGHT MINERS' WELFARE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 7.
Constitution and Objects
The charity is constituted by a Scheme dated 22 March 2005 and is registered with the Charity Commission under the number 520403.
The object of the charity is to provide an institute and recreation ground for the benefit of the inhabitants of the area in and around the village of Arkwright, particularly (but not exclusively) those who are members of the mining community.
The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities that have taken place during the year can be found later in this report.
Organisational! Structure
The trustees who have served the charity during the year are shown on page 1.
The charity is responsible for maintaining the premises and its contents and grounds in a suitable state of repair for use by those who live in the surrounding area. It raises income through various charitable activities, the main one being the hiring out of its facilities to the general public, but a substantial amount of its income comes from its connected trading company, Arkwright Miners Welfare Social Club Limited, which pays an annual occupational licence fee to the charity in order to run its business from the charity's premises. In addition to this, the company also transfers any profits it makes to the charity under a Gift Aid agreement so the trustees work closely with the company's directors to try and ensure the company is profitable, thus ensuring extra income for the charity.
Trustee vacancies are advertised and interested parties are asked to apply in writing. Interviews will be held and suitable candidates are then notified to their nominating body being either CISWO, Trade Union or members. The trustee board is made up of equal numbers of each nominating body.
Financial Review
The charity had showed a net surplus of £4,633 from the day to day running of the Trust as opposed to just £343 in the previous year. The trustees are obviously pleased with this improvement which is mainly due to an increase income from the various activities held there as more new people visit.
The various sections of the charity also had a successful year showing a combined surplus of £1,608 which has improved the charity's overall result even more.
The charity's debts at the year end are substantially lower than last year and the trustees will endeavour to maintain this position in the coming year.
Investment Policy
There is no specific investment policy in place as such as the charity does not have sufficient funds at this time to consider investment of any sort. The trustees will continue to monitor this situation and make relevant decisions as necessary.
Continued...
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ARKWRIGHT MINERS' WELFARE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Review of Activities
The Bowls Section has two teams that play several times a week including afternoon games and in the floodlit league in the winter as well as their nightly games. During the year, events were held for Easter, Halloween and Christmas all of which have been successful. A summer fun day was also held for adults and children to enjoy and this was so popular the trustees are hoping it may become an annual event.
The trustees were pleased to have secured grant funding in the year - one enabled the welfare to run a weekly warm space event for 12 weeks which provided a hot drink, food and a comfortable warm environment for those who needed it. Grant funding was also obtained for new signage, an outdoor shelter and new furniture. The trustees hope that these successes can be repeated in the coming year.
Reserves Policy
It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity at a level to provide sufficient funds to cover anticipated administration and support costs for a period of 12 months. Any additional reserves are held to provide a capital fund for repairs that will be required for the upkeep of the premises.
Risk Management
The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those risks to mitigate against any impact that may have on the charity. The major risks facing the charity are the continued success of the social club from which it derives its main funding, the support of individuals and the community in using the facilities and the introduction of the younger generation to provide for the future. The trustees work closely with the directors and members to address these risks.
Statement of Trustees Responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. in preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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- 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;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. 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. —7 a
Signed - Trustee
Print Name - Trustee
Ae-& 28 | Date
3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARKWRIGHT MINERS WELFARE TRUST
| report to the Trustees on my examination of the accounts of the above named charity (registered no. 520403) for the year ended 31 December 2024 which are set out on pages 5 to 9.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
| report in respect of my examination of the Trustees’ accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable directions given by the Charity Commission under section 145(5){b) of the 2011 Act.
Independent Examiner's Statement
{ have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the applicable accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| have no concerns and have came 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 accounts to be reached.
crt—— (te L 2S J Wallage FCA Date
On behalf of CISWO (Trading) Ltd
The Old Rectory Rectory Drive Whiston Rotherham South Yorkshire $60 4JG
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ARKWRIGHT MINERS' WELFARE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Designated | Total | Total | ||
|---|---|---|---|---|---|
| NOTE | Funds | Funds | 2024 | 2023 | |
| £ | . | £ | £ | ||
| Income and Endowments | |||||
| Snookerand pool | 1,661 | - | 1,661 | 1,512 | |
| Room hire | 1,425 | - | 1,425 | 1,675 | |
| Rent received | 6,960 | - | 6,960 | 6,960 | |
| Donations and other income | 4,840 | - | 4,840 | 1,895 | |
| Grants received | 2 | 5,500 | - | 5,500 | - |
| Occupational licence | 3,000 | - | 3,000 | 3,000 | |
| Income on sections | - | 9,503 | 9,503 | 7,283 | |
| Total Income | 23,386 | 9,503 | 32,889 | 22,325 | |
| Expenditure | |||||
| Direct Charitable Expenditure | |||||
| Rates and Water | 2,440 | - | 2,440 | 3,190 | |
| Insurance | 4,373 | - | 4,373 | 4,071 | |
| Repairs and maintenance | 4,568 | - | 4,568 | 5,496 | |
| Grant expenditure | 2 | 5,500 | - | 5,500 | - |
| Depreciation | 3 | 1,068 | - | 1,068 | 1,133 |
| Management and Administration | |||||
| Accountancy | 558 | - | 558 | 530 | |
| Sundry expenses | 181 | - | 181 | 218 | |
| Bank charges | 6S | - | 65 | 41 | |
| Sections | |||||
| Sections expenditure | - | 7,895 | 7,895 | 4,088 | |
| Total Expenditure | 18,753 | 7,895 | 26,648 | 18,767 | |
| NET INCOME FOR THE YEAR | 4,633 | 1,608 | 6,241 | 3,558 | |
| Fund balances brought forward | 61,578 | 8,033 | 69,611 | 66,053 | |
| Fundbalancescarriedforward | 66,211 | 9,641 | 75,852 | 69,611 |
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ARKWRIGHT MINERS' WELFARE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| NOTE | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Tangible Assets | 3 | 46,981 | 45,935 | ||
| CURRENT ASSETS | |||||
| Investments - CIU shares | 2 | 2 | |||
| Debtors and prepayments | 4 | 16,185 | 15,023 | ||
| Cash at bank and in hand | 3,913 | 3,674 | |||
| Cash held by sections | § | 9,641 | 8,033 | ||
| 29,741 | 26,732 | ||||
| LESS: CURRENT LIABILITIES | |||||
| Creditors falling due within one year | 6 | (870) | (3,056) | ||
| NET CURRENT ASSETS | 28,871 | 23,676 | |||
| TOTAL NETASSETS | 75,852 | 69,611 | |||
| REPRESENTED BY:- | |||||
| FUNDS | |||||
| Unrestricted Fund | 66,211 | 61,578 | |||
| Designated funds | 5 | 9,641 | 8,033 | ||
| 75,852 | 69,611 |
The Financial Statements were approved by the Trustees on and signed on their behalf by:
Signed - Trustee
Print Name - Trustee
Me be28). Date
6
ARKWRIGHT MINERS' WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
a. Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102), the Financial Reporting Standard (FRS 102) and the Charities Act 2011.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in the preparation of the accounts.
b. Income Recognition
Income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when they are received.
c. Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the _ amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
d. Depreciation
it is the policy of the trustees to maintain the charity's freehold property in a continuing state of good repair and they consider that in view of the expected residual value it is not necessary to provide for depreciation of the property.
Depreciation is provided on fixed assets other than freehold property in order to write off the cost of those assets over their expected economic lives. The annual rates of depreciation applied are as follows:-
Fixtures and Equipment - pre 2023 - 25% reducing balance basis - 2023 onwards - 10% straight line basis Boiler - 10% straight line basis
t
ARKWRIGHT MINERS' WELFARE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Warm | Improve- | Total | Total | ||
|---|---|---|---|---|---|
| Space | ments | 2024 | 2023 | ||
| 2. | GRANTS RECEIVED | £ | £ | ||
| Derbyshire County Council | 1,000 | - | 1,000 | - | |
| Sutton-cum-Duckmanton Parish Council | - | 4,500 | 4,500 | - | |
| Total grants received in year | 1,000 | 4,500 | 5,500 | - | |
| Expenditure | |||||
| Warm Spaces - utilities, staffcosts, food etc | 1,000 | - | 4,000 | - | |
| improvements -new signage, shelter, furniture | - | 4,500 | 4,500 | - | |
| Total grant expenditure in year | 1,000 | 4,500 | 5,500 | - | |
| Land & | Fixtures & | ||||
| 3. | FIXEDASSETS | Buildings | Equipment | Total | |
| £ | £ | £ | |||
| COST | |||||
| At 1 January2024 | 45,816 | 34,579 | 80,395 | ||
| Additions | - | 2,114 | 2,114 | ||
| Disposals | ~ | (27,710) | (27,710) | ||
| At 31 December2024 | 45,816 | 8,983 | 54,799 | ||
| DEPRECIATION | |||||
| At1January 2024 | 2,369 | 32,091 | 34,460 | ||
| Charge forthe year | 394 | 674 | 1,068 | ||
| Eliminated | - | (27,710) | (27,710) | ||
| At 31 December 2024 | 2,763 | 5,055 | 7,818 | ||
| NET BOOK VALUE | |||||
| At 31 December 2024 | 43,053 | 3,928 | 46,981 | ||
| At31December2023 | 43,447 | 2,488 | 45,935 |
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ARKWRIGHT MINERS' WELFARE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| 4. | DEBTORS | ||
| Balance due from Arkwright Miners' Welfare Social Club Ltd | 14,826 | 14,690 | |
| Prepayments | 372 | 333 | |
| Other debtors | 987 | - | |
| 16,185 | 15,023 | ||
| 5. | SECTIONS FUNDS | ||
| Bowls section - page 10 | 8,444 | 6,914 | |
| Children's Fund - page 11 | 1,197 | 1,119 | |
| 9,641 | 8,033 | ||
| 6. | CREDITORS: Amounts falling due within one year | ||
| Accruals | 870 | 2,243 | |
| Loan from North Derbyshire Miners' Welfare Trust Fund | - | 813 | |
| 870 | 3,056 |
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ARKWRIGHT MINERS WELFARE TRUST YEAR ENDED 31 DECEMBER 2024
BOWLS SECTION YEAR ENDED 31 OCTOBER 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME |
||||
| Winter League | 730 | 1,354 | ||
| Annual subs / Casual subs | 931 | 738 | ||
| Match subs | 1,968 | 1,677 | ||
| Raffles and meat raffle | 1,410 | 1,259 | ||
| Prize money | 130 | 190 | ||
| Refreshments | 1,206 | 165 | ||
| Football cards | 221 | 394 | ||
| Easter Draw | 384 | 281 | ||
| Race Night | 417 | - | ||
| Other income | 45 | 154 | ||
| 7,442 | 6,212 | |||
| EXPENDITURE | ||||
| Grounds maintenance | 2,635 | 1,772 | ||
| Other repairs, equipment and maintenance | 1,674 | 303 | ||
| Contribution to Arkwright Miners Welfare | 600 | 600 | ||
| Player registrations | 15 | 176 | ||
| Refreshments | 115 | 144 | ||
| League fees | 491 | 280 | ||
| Petrol | 76 | 68 | ||
| Insurance | 144 | 63 | ||
| Printing, postage and stationery | 32 | 43 | ||
| Other expenses | 130 | 80 | ||
| (5,912) | (3,529) | |||
| Surplus forthe year | 1,530 | 2,683 | ||
| Cash and bank balances brought forward | 6,914 | 4,231 | ||
| Cashandbankbalancescarriedforward | 8,444 | 6,914 |
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ARKWRIGHT MINERS WELFARE TRUST
CHILDREN'S FUND
YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| INCOME | |||||
| Beer raffle, Children's Club and | |||||
| Open the Box | 2,061 | 1,071 | |||
| EXPENDITURE | |||||
| Christmas Party | 656 | 297 | |||
| Halloween | 229 | 184 | |||
| Easter | 97 | 78 | |||
| Summer Fun Day | 1,001 | - | |||
| (1,983) | (559) | ||||
| Surplus forthe year fortheyear | 78 | 512 | |||
| Cash and bank balances brought forward | 1,119 | 607 | |||
| Cashandbankbalancescarriedforward | 1,197 | 1,119 |
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