STAVELEY MINERS WELFARE CENTRE
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
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STAVELEY MINERS WELFARE CENTRE REPORTS AND ACCOUNTS
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CONTENTS PAGE
CLUB INFORMATION 1
ACCOUNTANTS REPORT 2
STATEMENT OF FINANCIAL ACTIVITIES 3
BALANCE SHEET 4
NOTES TO THE ACCOUNTS 5
SEPARATE SECTIONS 6
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STAVELEY MINERS WELFARE CENTRE CLUB INFORMATION
TRUSTEES
SECRETARY
REGISTERED OFFICE
REGISTERED NUMBER
BANKERS
| ACCOUNTANTS
J.WATSON P.WHITE T.R.WARD
N.GILLIVER MARKHAM HALL MARKET STREET STAVELEY CHESTERFIELD $43 3UT 520522
TSB BANK PLC JONES BURNS & DAVIES 6A STATION ROAD ECKINGTON SHEFFIELD $21 4FX
PAGE 1
STAVELEY MINERS WELFARE CENTRE INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
| report on the Financial Statements of the Charity for the year ended 31 March 2024 which are set out on page 3 to 6.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
As the Charity's Trustees you are responsible for the preperation of the accounts : you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the act) does not apply. It is my responsibility to state, on the basis of procedures specified on the General Directions given by the Charity Commissioners under section 43(7) (b) of the Act, whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS REPORT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 of disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINERS REPORT
In connection with my examination, no mater has come to my attention :
1} Which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with Section 41 of the Act ; and
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to prepare accounts to which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met : or
2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
JONES BURNS & DAVIES 6A STATION ROAD ECKINGTON SHEFFIELD S21 4FX
DATE :-
PAGE 2
STAVELEY MINERS WELFARE CENTRE
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024
| 2024 | 2024 | 2024 | 2023 | |||
|---|---|---|---|---|---|---|
| NOTES | UNRESTRICTED | RESTRICTED | TOTAL FUNDS | TOTAL FUNDS | ||
| INCOME RESOURCES | 6 | |||||
| Covenant from Limited | 7,010 | 7,010 | 2,176 | |||
| Covenant from Bar Section - Markham Hall | 18,394 | 18,394 | 12,713 | |||
| Donations & Grants - Football Section | 7,867 | 7,867 | 2,224 | |||
| Rents and Room Hire | 8,024 | 8,024 | 8,243 | |||
| INVESTMENT INCOME | ||||||
| Investment Deposit Profit/(Loss) | 474 | 474 | 233 | |||
| CHARITABLE ACTIVITIES | ||||||
| Fund Raising | ||||||
| Sundry Income | 2,028 | 2,028 | 2,810 | |||
| Separate Sections | 8,913 | 8,913 | 17,403 | |||
| TOTAL INCOMING RESOURCES | 43,797 | 8,913 | 52,710 | 45,802 | ||
| RESOURCES EXPENDED | 7 | |||||
| Donations | - | - | ||||
| Direct Charitable Expenditure | - | - | ||||
| Management and Administration | ||||||
| ofthe Charity | 53,887 | 53,887 | 49,453 | |||
| Separate Sections | - | - | 537 | |||
| Grants paid out | - | - | ||||
| TOTAL RESOURCES EXPENDED | (53,887) | : | (53,887) | (49,990) | ||
| NET INCOMING/(OUTGOING) RESOURCES | ||||||
| BEFORETRANSFERS | (10,090) | 8,913 | (1177) | (4188) | ||
| TRANSFER BETWEEN FUNDS | - | - | - | - | ||
| NET INCOMING/(OUTGOING) RESOURCES | : | |||||
| FOR THEYEAR | (10,090) | 8,913 | (1177) | (4188) | ||
| GAINS/(LOSSES) ON INVESTMENTS | ||||||
| UNREALISED | - | : | - | - | ||
| NETMOVEMENT IN FUNDS | (10,090) | 8,913 | {1177} | (4188) | ||
| BALANCES BROUGHT FORWARD | ||||||
| AT 01.04.23 | 1,050,494 | 48,304 | 1,098,798 | 1,102,986 | ||
| BALANCES CARRIED FORWARD | ||||||
| AT31.03.24 | 1,040,404 | 57,217 | 1,097,621 | 1,098,798 |
PAGE 3
STAVELEY MINERS WELFARE CENTRE STATEMENT OF ASSETS AND LIABILITES
YEAR ENDED 31 MARCH 2024
| 2024 | 2024 | 2024 | 2023 | |
|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | TOTAL FUNDS | TOTAL FUNDS | |
| £ | £ | £ | £ | |
| ASSETS | ||||
| CASH FUNDS | ||||
| Cash at Bank and in Hand | 106,489 | 106,489 | 122,804 | |
| Cash/Bank in separate Sections | 57,217 | 57,217 | 48,304 | |
| 106,489 | 57,217 | 163,706 | 171,108 | |
| OTHER MONETARYASSETS | ||||
| Debtors and Prepayments | 40,447 | 40,447 | 33,821 | |
| Limited Account | 8,568 | 8,568 | 7,046 | |
| Investment Deposit Account | 41,734 | 41,734 | 41,259 | |
| 90,749 | - | 90,749 | 82,126 | |
| ASSETS RETAINED FORTHE CHARITY'S | ||||
| OWN USE - FIXED ASSETS | ||||
| See Schedule (2) | 845,005 | - | 845,005 | 847,340 |
| 845,005 | - | 845,005 | 847,340 | |
| LESS : CURRENT LIABILITES | ||||
| Creditors -Amounts falling due | ||||
| within oneyear | (1,839} | - | (1,839) | (1,776) |
| (1,839) | - | (1,839) | (1,776) | |
| NETASSETS | 1,040,404 | 57,217 | 1,097,621 | 1,098,798 |
| REPRESENTED BY :- | ||||
| INCOME FUNDS | ||||
| Unrestricted Funds | 1,040,404 | 1,040,404 | 1,050,494 | |
| Restricted Funds | 57,217 | 57,217 | 48,304 | |
| 1,040,404 | 57,217 | 1,097,621 | 1,098,798 |
APPROVED ON BEHALF OF THE TRUSTEES :-
TRUSTEES
PAGE 4
STAVELEY MINERS WELFARE CENTRE SCHEDULES AND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
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1) ACCOUNTING POLICIES
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a) The accounts are prepared under the historical cost convention
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b) The income and expenditure are stated in the accounts exclusive of Value Added Tax.
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c) it is the Club's policy to maintain its freehold property in a continuing state of good repair and the committee considers that in view of the expected residual value, it is not necessary to provide for depreciation of the property.
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d) 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 rate of depreciation used is :-
Fixtures and Equipment - 25% per annum on reducing balance
- e) Stocks are stated at the lower of cost or net realisable value.
2) FIXED ASSETS.
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FREEHOLD FIXTURES
LAND AND AND
PROPERTY EQUIPMENT TOTAL
£ £ £
COST
As at 01.04.23 838,000 254,417 1,092,417
Additions - - -
Disposals - - -
As at 31.03.24 838,000 254,417 1,092,417
DEPRECIATION
As at 01.04.23 - 245,077 245,077
Charge for the Year - 2,335 2,335
As at 31.03.24 - 247,412 247,412
NET BOOK VALUE
As at 31.03.24 838,000 7,005 845,005
As at 31.03.23 838,000 9,340 847,340
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PAGE 5-1
STAVELEY MINERS WELFARE CENTRE SCHEDULES AND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
3) ANALYSIS OF NET ASSETS BY FUND
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|---|---|---|---|---|
|2024|2024|
|UNRESTRICTED|RESTRICTED|TOTAL|FUNDS|
|£|£|£|
|Fixed|Assets|845,005|845,005|
|Current|Assets|197,238|197,238|
|Separate|Sections|57,217|57,217|
|Current|Liabilities|(1,839)|(1,839)|
|FUND|BALANCE|1,040,404|57,217|1,097,621|
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4) FUNDS AND FUND TRANSFERS
The Restricted Funds are Separate Sections of Social and Sports Activities of the local community.
In respect alone of the limitations on our work relating to the balances held by separate sections, we have not obtained all the information and explanations that we consider necessary for the purpose of our examination.
5) STATEMENT OF NET INCOME
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|---|---|---|---|---|---|
|GROSS|INCOME|£|£|
|Unrestricted|Funds|43,797|-|
|Restricted|Funds|8,913|52,710|
|TOTAL|EXPENDITURE|
|Unrestricted|Funds|(53,887)|-|
|Restricted|Funds|(53,887)|
|NET INCOMING|RESOURCES|FOR THE|YEAR|£|(1177)|
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PAGE 5-2
STAVELEY MINERS WELFARE CENTRE SCHEDULES AND NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
6) INCOMING RESOURCES
| INCOMING RESOURCES | ||||
|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | |
| UNRESTRICTED | RESTRICTED | TOTALFUNDS | TOTAL FUNDS | |
| £ | £ | £ | £ | |
| Covenant from Limited | 7,010 | - | 7,010 | 2,176 |
| Markham Hall - Bar Section | 18,394 | - | 18,394 | 12,713 |
| DONATIONS AND GRANTS | ||||
| Cricket Section | - | - | - | - |
| Football Club - Electricity Refund | 7,867 | - | 7,867 | 2,224 |
| RENTS | ||||
| Room Rents | 3,024 | - | 3,024 | 3,243 |
| Vodafone Rental | 5,000 | - | 5,000 | 5,000 |
| INVESTMENT INCOME | ||||
| Investment Deposit Profit/(Loss) | 474 | - | 474 | 233 |
| FUND RAISING | ||||
| Pool and Snooker Receipts | 2,028 | - | 2,028 | 2,810 |
| SUNDRY INCOME | - | - | - | - |
| SEPARATE SECTIONS | ||||
| Football Club (Main) | - | 6,498 | 6,498 | 16,439 |
| Lowgates Bowls | - | 602 | 602 | - |
| Cricket Section | - | 1,813 | 1,813 | 964 |
| Snooker Section | - | - | - | - |
| 43,797 | 8,913 | 52,710 | 45,802 |
PAGE 5-3
7) RESOURCES EXPENDED
STAVELEY MINERS WELFARE CENTRE SCHEDULES AND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
| RESOURCES EXPENDED | ||||
|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | |
| UNRESTRICTED | RESTRICTED | TOTALFUNDS | TOTAL FUNDS | |
| £ | £ | £ | £ | |
| DONATIONS - OTHERS | ||||
| Grants Paid Out | - | - | - | - |
| DONATIONS TO SECTIONS | ||||
| Football Club - Main | - | - | - | - |
| Cricket Section | - | - | - | - |
| Social Activities Fund - Main | - | - | - | - |
| Bowls Section | - | - | - | - |
| Snooker Section | - | - | - | - |
| MANAGEMENTAND ADMINISTRATION | ||||
| OF THE CHARITY | ||||
| Rates and Water Rates | 6,700 | - | 6,700 | 5,592 |
| Light and Heat | 16,740 | - | 16,740 | 15,569 |
| Insurance and Licences | 5,735 | - | 5,735 | 4,952 |
| Sports Ground Maintenance | 220 | - | 220 | 270 |
| Depreciation/Loss on Disposal | 2,335 | - | 2,335 | 3,114 |
| Accountancy | 1,298 | - | 1,298 | 1,235 |
| Repairs and Renewals - Main | 8,391 | - | 8,391 | 13,645 |
| Repairs and Renewals - Lowgates | 10,533 | - | 10,533 | 3,831 |
| Printing, Stationery & Postage | 737 | - | 737 | 526 |
| Sundries | 553 | - | 553 | 567 |
| Bank Charges | 166 | - | 166 | 152 |
| Professional Fees | 479 | - | 479 | - |
| SEPARATE SECTIONS | ||||
| Snooker Section | - | - | - | - |
| Cricket Section | - | - | - | 537 |
| Bowls Section | - | - | - | - |
| 53,887 | - | 53,887 | 49,990 |
PAGE 5-4
STAVELEY MINERS WELFARE CENTRE SNOOKER SECTION INCOME AND EXPENDITURE REPORT 31 MARCH 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| INCOME | ||||
| Donation from StaveleyMW Centre | - | - | ||
| Raffles Etc | - | - | ||
| EXPENDITURE | ||||
| Recover Table | - | - | ||
| Snooker tron | - | - | ||
| Tables Polished, Repaired Etc | - | - | ||
| Table Purchases | - | - | ||
| Refreshments | - | - | ||
| SnookerTriangle | - | - | ||
| League Fees | - | - | ||
| Bank Charges | - | - | ||
| Transfer to Charity | (397) | |||
| (397) | - | |||
| SURPLUS OF INCOME OVER EXPENDITURE | ||||
| FOR THE YEAR END 31.03.24 | £ | - | £ | - |
| DEFICIT OF EXPENDITURE OVER INCOME | ||||
| FOR THE YEAR ENDED 31.03.24 | £ | - | £ | - |
| Balance at 01.04.23 | 397 | 397 | ||
| Less: Expenditure over Income | (397) | - | ||
| Add: Income over Expenditure | - | - | ||
| BALANCEAT31.03.24 | £ | - | 397 |
PAGE 6
STAVELEY MINERS WELFARE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts.
Constitution and Objects
The charity is constituted by a Scheme dated 31 January 2006 and is registered with the Charity Commission under the number 520522.
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 local are, 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 operates from three sites - the main welfare hall, the cricket club and the football club - and 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, Staveley Miners Welfare Social Club Limited (which operates the bar at the cricket club) and the bar section at Markham Hall (which operates the bar at the main welfare), both of which transfer any profits they make to the charity under a Gift Aid agreement so the trustees work closely with the management of each to try and ensure the bars are 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 net expenditure of £1,177 for the year as opposed to £4,188 net expenditure in the previous year and the trustees are pleased with this modest improvement but know that more work will be needed to improve things further in the coming year.
The charity had total reserves of £1,097,621 at the balance sheet date. This was comprised of £845,005 fixed assets and £252,616 net current assets of which £195,399 was unrestricted and available for the trustees to utilise in carrying out the charity's activities. On the whole, the trustees are satisfied with the results for the year and hope for better results in the coming year
Continued…
1
STAVELEY MINERS WELFARE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)
Review of Activities
This year has seen a couple of changes in the running of the bar facilities with new management taking over the bar activity at the main welfare site. Business at both sites has been steady throughout the year although the trustees are fully aware that the "golden years" will never return with the cost of living increase being just one reason why people are choosing not to go out as much.
The committee at both the Markham Hall and Lowgates sites have run events on certain nights during the week to keep people coming into the venues and the income ticking over. The annual Christmas parties were held once again but although the usual seaside trips were considered the cost of running them was prohibitive and the trustees reluctantly elected not to hold them this year.
On the sporting side of things this is the first year that the welfare has not been represented by a snooker team and there has been no pool team either for various reasons. The trustees are hopeful that this can be rectified soon.
On a more positive note the football ground is busy every night of the week and the teams are doing quite well. In the winter months when the frost is on the ground it is used by Chesterfield FC when their training ground is not playable. The cricket ground is in full use over the weekends along with some nights in the week and the bowling green is also well used in the summer months.
This year both buildings have needed necessary repairs which have been costly including re-wiring works, new heating system, roofing work and renewal of outer doors. The trustees are pleased to have been able to carry out this work at a minimal deficit to the charity and hope for improvement in the coming year.
Investment Policy
There is no specific investment policy in place as such but the trustees have taken the sensible approach and placed any excess funds in an interest bearing bank account. This provides a modest amount of income in the form of interest but means the funds are readily available should they be required. The trustees will continue to monitor this situation and make relevant decisions as necessary.
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.
Continued…
2
STAVELEY MINERS WELFARE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)
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;
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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.
John Watson Chairman