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2024-03-31-accounts

Charity registration number 520822

HETTON TOWN TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

HETTON TOWN TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees W A Scullion
J Price
I Scott
R Heron
B Malekpour
Cllr J Blackburn
Cllr K Pearson
A Wilkinson
D Gardner
T Dodds
C Bell
J Thompson
D Anderson (Appointed 4 July 2023)
R Hodgson (Appointed 4 July 2023)
Charity number 520822
Principal address The Hetton Centre
Welfare Road
Hetton-Le-Hole
Tyne And Wear
United Kingdom
DH5 9NE
Independent examiner Michael Barnes ACA
Gateway Accountancy & Tax
2 Bonavista Drive
Sunderland
Tyne & Wear
SR4 9AP
United Kingdom
Solicitors Mitchell Dodds
208 Park View
Whitley Bay
Tyne And Wear
United Kingdom
NE26 3QS

HETTON TOWN TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 21

HETTON TOWN TRUST

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.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The object of the Charity is defined as the provision of a recreational, social and educational centre for the benefit of the inhabitants of the area, and particular those members of the mining community.

It achieves these objects through the provision of:

Public benefit

The charity provides a recreational, social and educational centre. This provides a benefit to the inhabitants of the local community, and is managed by members of the local community. The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The financial year continued to be affected by post covid effects that resulted in a decrease in bookings of Meeting Rooms and Function Room. This also impacted on the Bar that relies on Functions to support sales. The latter quarter of the financial year showed a marked improvement over previous period in all areas.

The Café has seen an increase in sales over the year and this has required an increase in staff to meet demand. The introduction of the Family Hub by Sunderland City Council provides first class provision of activities for families in the wider area. It has also had a positive and welcome effect on Café footfall and sales. The Café has also seen regular users return and increase in numbers following the post covid reopening. An excellent and changing menu has no doubt encouraged these improvements.

The Nursery continues to be well supported and is an excellent provision for working parents and their children from 6 months to 5 years old.

Football

SAFC continue to rent the ground. The Club have provided improvements to meet FA requirements. The Trust does not benefit from ticket sales but does benefit from Café sales to spectators. The relationship with SAFC has been beneficial to both parties.

CISWO

The Coal Industry Social Welfare Organisation have been supportive to The Trust and offer guidance and support where appropriate.

Employees and Managers

Our excellent Café and Bar staff and management are the mainstay of the business of The Trust. They never fail to rise to the occasion and deserve praise for their hard work.

HETTON TOWN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

The notes to the accounts disclose the assets and liabilities of he organisation attributable to the various funds by type.

Unrestricted funds amount to £53k (2023: £80k) virtually all of which is freely available.

The trustees have determined that the appropriate level of free reserves which are not invested in tangible fixed assets should be equivalent to four months of core expenditure, approximately £28k. Free reserves at the year end were in excess of this amount, but the Trustees are cognisant of the future requirement to re-invest in the fabric of the facility and its equipment to satisfy the needs and requirements of our users. This will involve the utilisation of annual accumulated surpluses.

Our aim is to sustain Reserves by means of annual operating surpluses and judicious management of our resources.

It is the normal policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Risk management

The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees are responsible for the management of the risks faced by the Organisation. Detailed considerations of risk are reviewed by the Board on an ongoing basis at the monthly management meetings. Risks are identified, assessed and controls established throughout the year.

The key controls used by the charity include;

Through the risk management processes established for the organisation, the Board are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable assurance that major risks have been adequately managed.

Going Forward

There is much to be positive about. The Trust has ridden out some storms over the years but with careful management Hetton Town Trust remains a successful and viable asset to Hetton le Hole and the wider area. There will always be challenges to meet but with strong Trustee support these will be addressed and managed.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Hetton Town Trust replaced the organisation formerly know as Eppleton Colliery Welfare when it ceased trading on 18th March 2003.

The Trust Deed governing Hetton Town Trust was updated in May 2004.

HETTON TOWN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The trustees who served during the year and up to the date of signature of the financial statements were:

W A Scullion J Price I Scott R Heron B Malekpour Cllr J Blackburn Cllr K Pearson A Wilkinson D Gardner T Dodds C Bell J Thompson Cllr D Thomas (Resigned 30 September 2023) D Anderson (Appointed 4 July 2023) R Hodgson (Appointed 4 July 2023)

Recruitment and appointment of new trustees

Procedures for the appointment and election of new trustees are set out in the trust deed.

Trustees

The Trust continues to offer an excellent range of facilities for use by the community and organisations in the wider community.

Increasing costs remain a challenge to the management of The Trust. Where possible, these increases have been absorbed but inevitably they must be passed on to our users.

Management and staff

Our managers and staff throughout the business deserve credit and praise for their work. They are the life blood of The Trust.

The Centre Spot Café continues to offer value for money refreshments and food that is cooked on the premises. This is reflected in the number of regular users and visitors to the Hetton Centre. It also provides catering for football matches played on our ground.

Bob Paisley Bar and Function Room

The Function Room regularly hosts Family events including birthday parties and various other social gatherings. It also welcomes training organisations and other groups.

Football

SAFC continue to rent the ground from The Trust. The Trust does not benefit from ticket sales but does benefit from Café sales to spectators. The relationship with SAFC has been beneficial to both parties. The Trust will continue to monitor the financial relationship with SAFC to ensure that payments reflect the true value of the facility. It has always been the case that any improvements to the facility to meet FA or SAFC requirements will be borne by SAFC.

The Nursery continues to be well supported and is an excellent provision for working parents and their children from 6 months to 5 years old.

CISWO

The Coal Industry Social Welfare Organisation continue to offer welcome advice and support to The Trust.

Trustees

The Trust has seen many changes over the years, and I believe that the present board of trustees represents a diverse range of abilities and experience. We will continue to maintain the quality of Trustees where vacancies arise. Thanks are due to The Vice Chair, Secretary, Treasurer and Facilities Manager for their diligence and input.

Going Forward

There is much to be positive about but there are financial challenges ahead that will need strong and careful management to overcome.

HETTON TOWN TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Organisational structure

The organisation will be governed by a maximum of 14 nominated trustees, together wit 2 co-opted trustees where applicable.

The trustees' report was approved by the Board of Trustees.

W A Scullion

Trustee

Dated: 23 January 2025

HETTON TOWN TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF HETTON TOWN TRUST

I report to the trustees on my examination of the financial statements of Hetton Town Trust (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of 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:

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.

Michael Barnes ACA

Gateway Accountancy & Tax

2 Bonavista Drive Sunderland SR4 9AP United Kingdom

Dated: 23[rd] January 2025

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Income from:
Notes
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
Expenditure on:
Charitable activities
Facilities
5
Café
5
Bar
5
Community Fund
5
Total charitable expenditure
Net outgoing resources before
transfers
Gross transfers between funds
Net expenditure for the
year/net movement in funds
Fund balances at 1stApril 2023
(as restated)
Fund balances at 31stMarch
2024		 Unrestricted
General
Fund
2024
£
-
68,833
136
68,968
88,249
-
39
-
88,287
(19,319)
(11,514)
(30,833)
72,269
41,436		 Unrestricted
Fund –
Café
2024
£
-
117,134
-
117,134
-
128,647
-
-
128,647
(11,514)
11,514
-
-
-		 Restricted
Funds
2024
£
-
-
-
-
-
-
-
30
30
(30)
-
(30)
199
169		 Total
2024
£
-
185,966
136
186,102
88,249
128,647
39
30
216,965
(30,863)
-
(30,863)
72,468
41,605		 Unrestricted
General
Fund
2023
£
661
76,275
143
77,079
90,243
-
45
-
90,288
(13,209)
5,150
8,059)
80,328
72,269		 Unrestricted
Fund –
Café
2023
£
-
87,552
-
87,552
-
82,402
-
-
82,402
5,150
(5,150)
-
-
-		 Restricted
Funds
2023
£
-
-
-
-
-
-
-
35
35
(35)
-
35
234
199		 Total
2023
£
661
163,827
143
164,631
90,243
82,402
45
35
172,725
(8,094)
-
(8,094)
80,562
72,468

HETTON TOWN TRUST BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Stock
12
Debtors
13
Cash at bank and in hand
Creditors: falling due within one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Designates funds – Bar
General unrestricted funds		 2024
£
£
13,849
2
13,851
950
20,700
48,482
70,132
34,319
35,813
49,664
169
220
49,275
49,495
49,664		 2023 (Restated)
£
£
11,892
2
11,894
800
37,857
52,234
90,891
22,258
68,633
80,527
199
259
80,069
80,328
80,527		 2023 (Restated)
£
£
11,892
2
11,894
800
37,857
52,234
90,891
22,258
68,633
80,527
199
259
80,069
80,328
80,527
11,894
68,633
80,527
199
80,328
80,527

The financial statements were approved by the Trustees on 23 January 2025

W A Scullion Trustee

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Hetton Town Trust is a public benefit entity under FRS 102.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities Act 2011 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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. Thus 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.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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 Incoming resources

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.

Income from Government and other grants whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. In respect of furlough grants; all conditions, with respect to the eligible costs being claimed, need to be met.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Resources expended

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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.

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:

Fixtures and fittings

15% reducing balance

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 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 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).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 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.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.11 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Donations & Legacies
Donations & Legacies		 Unrestricted
General Fund
2024
£
-
-
-		 Total
2023
£
661
-
661

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Charitable activities

Sales within charitable activities
Facilities hire
Hetton Centre Trading Limited facilities recharge
Charitable rental income
Room hire
Analysis by fund
Unrestricted funds - General
Unrestricted funds - Cafe		 Facilities
2024
£
-
25,864
8,383
3,537
31,049
68,833
68,833
-
68,833		 Cafe
2024
£
117,134
-
-
-
-
117,134
-
117,134
117,134		 Total

2024
£
117,134
25,864
8,383
3,537
31,049
185,966
68,833
117,134
185,966		 Facilities
2023
£
-
21,600
18,018
4,752
31,905
76,275
76,275
-
76,275		 Cafe
2023
£
87,552
-
-
-
-
87,552
-
87,552
87,552		 Total
2023
£
87,552
21,600
18,018
4,752
31,905
163,827
76,275
87,552
163,827

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Investments
Unrestricted
General Fund		 Total
2024 2023
£ £
Interest Receivable 136 143
5 Charitable Activities
Facilities Cafe Bar Community
Fund		 Total Total
2024 2024 2024 2024 2024 2023
£ £ £ £ £ £
Staff costs 42,960 62,677
-		 - 105,638 85,480
Depreciation 840 1,595
39		 30 2,504 1,674
Impairment - 338
-		 - 388 -
Consumables - 57,143
-		 - 57,143 39,400
Light & Heat 9,877 -
-		 - 9,877 12,083
Postage, stationery & telephone 3,250 256
-		 - 3,506 4,153
Repairs, renewals & cleaning 4,127 816
-		 - 4,943 5,457
Equipment leasing - 2,250
-		 - 2,250 -
Ground maintenance 743 -
-		 - 743 32
Rates & water 11,266 -
-		 - 11,266 10,042
Insurance 5,858 -
-		 - 5,858 3,856
Licenses - -
-		 - - 96
Travelling 1,247 -
-		 - 1,247 579
Sundries 1,243 738
-		 - 1,980 1,251
Advertising - - - - - -
81,412 125,813
39		 30 207,294 164,103
Share of support costs (see note 6) 5,336 1,334
-		 - 6,670 5,122
Share of governance costs (see note 6) 1,500 1,500
-		 - 3,000 3,500
88,249 128,647
39		 30 216,965 172,725
Analysis by fund
Unrestricted funds – general 88,249 -
-		 - 88,249 90,243
Unrestricted funds – Café - 128,647
-		 - 128,647 82,402
Unrestricted funds – Bar - -
39		 - 39 45
Restricted funds - - - 30 30 35
88,249 128,647
39		 30 216,965 172,725

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Charitable Activities (continued)

Staff costs
Depreciation and impairment
Consumables
Light & Heat
Postage, stationery & telephone
Repairs, renewals & cleaning
Equipment leasing
Ground maintenance
Rates & water
Insurance
Licenses
Travelling
Sundries
Advertising
Share of support costs (see note 6)
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds – general
Unrestricted funds – Café
Unrestricted funds – Bar
Restricted funds
6 Support Costs		 Facilities
2023
£
42,980
825
-
12,083
4,153
4,556
-
32
10,042
3,856
96
579
1,219
-
84,421
4,072
1,750
90,243
90,243
-
-
-
90,243		 Cafe
2023
£
35,500
769
39,400
-
-
901
-
-
-
-
-
-
32
-
79,602
1,050
1,750
82,402
-
82,402
-
-
82,402		 Bar
2023
£
-
45
-
-
-
-
-
-
-
-
-
-
-
-
45
-
-
45
-
-
45
-
45		 Community
Fund
2023
£
-
35
-
-
-
-
-
-
-
-
-
-
-
-
53
-
-
35
-
-
-
35
35		 Total
2023
£
85,480
1,674
39,400
12,083
4,153
-
-
32
10,042
3,856
96
579
1,251
-
164,103
164,103
3,500
172,725
90,243
82,402
45
35
172,725
Professional fees
Business Consultancy
Bank Charges (inc Merchant
Charges)
Independent examiners fee
Analysed between
Charitable activities		 Support
Costs
£
2,415
2,354
1,901
-
6,670
6,670		 Governance
Costs
£
-
-
-
3,000
3,000
3,000		 2024
£
2,415
2,354
1,901
3,000
9,670
9,670		 Support
Costs
£
2,003
2,359
760
-
5,122
5,122		 Governance
Costs
2024
£
£
-
2,003
-
2,359
-
760
3,500
3,500
3,500
8,622
3,5000
8,622

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Trustees

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

Trustees were given allowance for lunches while working at the Hetton Centre totalling £Nil (2023 : £Nil)

8 Employees

Number of employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Cafe staff 6 6
Facilities manager 1 1
Cleaners 1 1
8 8
Employment costs 2024 2023
£ £
Wages and salaries 104,123 84,212
Other pension costs 1,514 1,268
105,638 85,480

There were no employees whose annual remuneration was £60,000 or more.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Tangible fixed assets

Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023 43,806
Additions 4,799
Disposals (3,397)
At 31 March 2024 45,208
Depreciation and impairment
At 1 April 2023 31,914
Depreciation charged in the year 2,504
Disposals (3,059)
At 31 March 2024 31,359
Carrying amount
At 31 March 2024 13,849
At 1 April 2023 11,892

Within fixed assets 2.3945 hectares of land remains vested with the Official Custodian for Charities in trust for the Charity. A snooker table originating from Eppleton CW, and written down to £nil net book value, is used by the Charity, but not reflected in the above table.

10 Fixed asset investments

Shares in group
undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024 2
Carrying amount
At 31 March 2024 2
At 1 April 2023 2

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

HETTON TOWN TRUST

12 Stocks

Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Trade debtors
PAYE recoverable
Amounts owed by subsidiary undertakings
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
950
2024
£
3,927
5,884
8,738
2,150
20,700
2024
£
12,856
-
312
21,151
34,319		 2023
£
800
2023
£
16,118
-
17,606
4,133
37,857
2023
(restated)
£
9,083
330
-
12,845
22,258

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on for specific purposes:

Balance at Resources Balance at Resources Balance at
1 April 2022 expended 1 April 2023 expended 31 March 2024
£ £ £ £ £
Community Fund 234 (35) 199 (30) 169

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

HETTON TOWN TRUST

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance
at 1 April
2023
£
Bar facility
259
Café Trading
-
259
Prior Year Adjustment
Reserves at 1st April 2023(as originally stated)
See below		 Incoming
resource
s
£
-
117,133
117,133		 Resource
s
expended
£
(39)
(128,647)
(128,686)		 Transfer
s
£
-
11,514
11,514
2024
£
38,604
(38,345)		 Balance at
31 March
2024
£
220
-		 Balance at
31 March
2024
£
220
-
220


2023
£
38,649
(38,345)
259 304

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Unrestricted funds

Restated
Balance
at 1 April
2023
£
General fund
80,069
Prior Year Adjustment
Reserves at 1st April 2023(as originally stated)
See below
Restated		 Incoming
resources
£
68,968		 Resources
expended
£
(88,249)		 Transfers
£
(11,514)		 Balance at
31 March
2024
£
49,275
2024
£
(4,276)
84,345
80,069		 2023
£
3,738
84,345
88,083

Prior Year Adjustment

Provisions made for the use of utilities relating to the Charity's use of The Hetton Centre have been released against Reserves. Also, the designation of funds within previous financial statements has been corrected. The funds relating to "Bar Facility" have been reconciled with the written down value of the expenditure that was represented within this Designated fund.

18 Related party transactions

Hetton Centre Trading Limited (HCT) is a wholly owned trading subsidiary of the charity. HCT trades from the charity's premises. During the year HCT was charged £8,383 (2023: £18,333) for management, insurance and utilities costs. There were no Gift Aid payments receivable from HCT for the year (2023: £nil). At the year end HCT owed the charity £8,738 (2023: £17,606).

19 Subsidiaries

The Charity owns 100% of its Subsidiary Company, Hetton Centre Trading Limited Company No 6548566 incorporated in England and Wales.