Registered Charity Number '. 520584 TRINITY HOUSE SOCIAL CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRINITY HOUSE SOCIAL CENTRE LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Trustees lan Carr Charity Number Registered Office 520584 134 Laygate South Shields South Shields NE33 4JD Lloyds TSB King Street South Shields Bankers TRINITY HOUSE SOCIAL CENTRE CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 Trustees, Report Statement of Finanical Activities Balance Sheet Notes to the Financial Statements TRINITY HOUSE SOCIAL CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024 . Page1of8 The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Charlty No. 520584 Principal Office 134 Laygate South Shields Tyne and Wear NE33 4JD Trustees The following trustees served during the year.. l. Carr Key Management Personnel Chair lan Carr Accountants DIP Accountancy Limited 78 Lumley Avenue South Shields NE34 7DL Bankers Lloyds TSB South Shields Branch King Street South Shields Tyne and Wear NE33 Solicitors None Appointed Investment Advlsors NIA OBJEcfivES AND ACTIVITIES Trinity House overall ethos is contained in the Charity Commission Document. The object of the Charity shall be.. The provision and maintenance of a community centre for the use of the inhabitants of South Shields with distinction of political. religious or other opinions with the object of improving the conditions of life of the said inhabitants. ACHIEVEMENTS AND PERFORMANCE Post COVID-19 Pandemic restrictions and Building refurbishment in September 2022 Trinity House Social Centre reopened, with a significant downturn in group take up, impacting on the financial status of the Charity. The Building also suffered structural damage during storms. which is subject to Insurance Claims. The ongoing planning and development of the charity has been extended for a further year to accommodate the issues this year has raised and the Trustees are determined to progre55 With the development of the charity. The beneficiaries of the charities continue to support and engage in the forward thinking planning of the charity and have been pleased to report the positive feedback from their clients. colleagues, family and friends. This year has also seen our policies and procedures reviewed and this process is ongoing. We are again confident that the Charity is continuing to grow in line with our expectations and development plan and we look forward to being of great valLJe to the local and wider community. Page2of8 FINANCIAL REVIEW The results of the year and the charitiy's financial position at the end of the year are shown in the attached financial statements. During the year the Charity had receipts of £98.907 12023: £145.9051 and payments of £35.888 12023 ..£150.9751. There was an operating surplus of £63,019 12023.. Deficit -£5,880) The Charity currently dispute5 the validity of the current charges being levied by British Ga5 for Gas and Electricity. Issues regarding Account Ownership. VAT status and Climate Change Levy are being investigated. The liability is being recorded at the level billed by British Gas but once resolution is gained this Should reduce the liability significantly. PLANS FOR FUTURE PERIODS Training is identified for Trustees when in place. Due to the final paragraph in section 4 this has caused problems in the recruitment of trustees, in some cases due to the people having the knowledge to assist also identify themselves with a conflict of interest. The Charity will continue to promote a culture of Diversity and Equality- STRUCTURE, GOVERNANCE AND MANAGEMENT The Management Committee is the body responsible for the overall management of the Charity, financial stability, organisational policy, budget setting and review and strategic direction. The Managing Agent has responsibility of the day to day management of the centre. the supervision of staff and volunteers, monitoring of work and of progress of targets including increasing income to ensure long term stability. Statement of trustees, responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reportsl Regulations. and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. 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. Signed on behalf of the charity's trustees l. Carr Trustee 31 March 2024 This report was approved by the trustee and signed on its behalf by.. lan Carr Trustee Date . 01 April 2024 Page3of8 TRINITY HOUSE SOCIAL CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Recommended categorles by activity Notes Unrestrlrted funds Total Funds 2024 Income and endowments from: Donations and legacies 89,323.00 89,323.00 Charitable activities 9,584.00 9,584.00 Total 98.907.00 98,907.00 Expendlture on: Raising funds 1.123.00 1.123.00 Charitable activities 31.064.00 31.064.00 Other 3.701.00 3.701.00 Total 35.888.00 35.888.00 Net incomellexpenditure) 63.019.00 63,019.00 Net movement in funds 63.019.00 63,019.00 Reconciliation of funds: Total funds brought forward 309,642.00 309,642.00 Total funds carried forward 372,661.00 372.661.00 Page4of8 TRINITY HOUSE SOCIAL CENTRE BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 Recommended categories by activity Fixed asset5 Tangible assets Unrestrlcted funds Total Funds 2024 Notes 366.361.00 366,361.00 Total fixed assets 366.361.00 366,361.00 Current assets Debtors 65,001.00 65,001.00 Cash at bank and in hand io 6.216.00 6,216.00 Total current asset5 71.217.00 71,217.00 Creditors.. amounts falling due within one year Net current assetsl(liabilities) li 64.917.00 64,917.00 6.300.00 6,300.00 Total net assets or liabilities 372.661.00 372,661.00 Funds of the Charity Unrestricted funds 12 372.661.00 372,661.00 Restricted income funds 12 Endowment funds 12 Total funds 372.661.00 372,661.00 The financial statements were approved by the trustees on 01 April 2024 and signed on its behalf by.. lan Carr Trustee Date .' 01 April 2024 Page5of8 TRINITY HOUSE SOCIAL CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l. Accounting Policies The principal accounting policies adopted by the Charity. which is a public ber)efit entity, in the preparation of the accounts are as follows. 1.1 Basis of preparation These accounts have been prepared under the historical cost convention. as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared in accordance with -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 IFRS 102)" (effective l January 20191- (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. 1.2 Going concern The Trustees have prepared financial projections. taking into consideration the current economic conditions and have. at the time of approving these accounts. a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts. 2. Income from Donations and Legacies Analysis Unrestrirted funds Total funds 2024 Donation and gifts Other 15.00 Is.00 89.308.00 89.308.00 89,323.00 89.323.00 3. Income from Charitable Activities Analysis Unrestricted funds Total funds 2024 Let-out of non-investment property 9.584.00 9.584.00 9.584.00 9.584.00 4. Expenditure on Raising Funds Analysls Total funds 2024 Support Costs 1,123.00 1.123.00 5. Expenditure on Charitable Activities Total funds 2024 Analysis Bank charges Charity running cost Advertising and marketing Support Costs 2.075.00 27.785.00 81.00 1,123.00 31.064.00 Page6of8 6. Support Costs Total funds 2024 Analysis Wages and salaries 2,246.00 2.246.00 7. Other Expenditure Unrestrirted funds Totsl funds 2024 Analysis Depreciation Charge for the Year - Freehold Land & Buildings 3.701.00 3,701.00 3.701.00 3.701.00 8. Tangible Fixed Assets Freehold Land & Buildings 8.1 Cost or valuation At 01 April 2023 Additions 420,000.00 Disposals Revaluations Transfers At 31 March 2024 420.000.00 8.2 Depreciation and impairments At 01 April 2023 49.938.00 Charge for the year 3,701.00 Disposals Revaluations Transfers At 31 March 2024 53.639.00 8.3 Net book value At 01 April 2023 370,062.00 At 31 March 2024 366.361.00 9. Debtors: Amounts falling due within one year Total funds 2024 Trade debtors 65.001.00 65.001.00 10. Cash at bank and in hand Total funds 2024 Cash at bank and in hand 6,216.00 6.216.00 Page7of8 11. Creditors: Amounts falling due within one year Total funds 2024 Trade creditors 64,917.00 64.917.00 12. Charity funds 12.1 Details of material funds held and movements during the CURRENT reporting period Fund balances brought forward Fund balances carried forward Fund names Income Expendlture Transfers Gains and losses Unrestrlcted funds General Fund 98,907.00 98.907.00 35,888.00 35.888.00 63.019.00 63.019.00 Total 12.2 Transfers between funds Thls Year Amount Between unrestricted and restricted funds Between endowment and restricted funds Between endowment and unrestricted funds Page8of8