WEARMOUTH MINERS WELFARE SCHEME REGISTERED CHARITY NO: 520905 STATEMENT OF ACCOUNTS AND ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 WE RMO TH MINERS WELFARE SCHEME ANNUAL R PORT AND ACC NTS FOR THE YEAR END D 31 DECEMBER 023 NDEX CONTENTS PAGE Legal and Administrative Details Trustees, Report Independent Examiner's Report Statement of Financial Acts'vities Balance Sheet Notes to the Accounts Section Accounts 10 WEARMOUT INERS W CH TY REGI ARE 520 EME GA AND INISTRATIVE DETAIL FOR THE YEAR ENDED 31 DECEMBER 2022 TRUSTEES: K Chisholm A Holyoak T Crombie A Thompson C C Fletcher (Appointed 1110912023) SECRETARY: C Hall SCHEME ADDRESS: Thompson Road Southwick Sunderland Tyne and Wear SR5 1SF BANKERS: Lloyds TSB Fawcett Street Sunderland Tyne and Wear SR11SF ACCOUNTANTS: J Wallage FCA CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG WEARMOUTH MINERS WELF RE SCHEME REPORT OF THE TRUSTEES YEAR E DED 31 DECEMBE FOR TH 02 The trustees present thelr report along with the financial statements of the charity for the year ended 31 December 2023. The financial Statement3 have been prepared in accordance wlth the accounting policies set out in Note 1 to the accounts which can be found on page 7 and comply wlth the charlties trust deed, applicable law and the Charities SORP FRS 102. Constltutlon, ObJectlve8 and Activitles for the Public Beneflt The charity is constituted by Conveyances dated October 1925 and a Scheme dated 12 March 1997 and was registered with the Charity Commission on 10 June 1969 under the number 520905. Its objects are to provlde a recreatlon ground and social club for the purposes of exercise and recreation for the people that INe in and around the Southwick area. The trustees have referred to the guidance given by the Chanty Commission on publlc benefft when ravi0￿ng 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. Organlsatlonal Structure The trustees who have served the charity during the year are shown on page 1. The charity is responsible for maintslning the premises and its contents and grounds in a 5Uttable state of repair for the use by those who live in the surrounding area. Its principle source of income, apart from investment income, comes from its connected trading company, Wearmouth Colliery Welfare, which pays an annual occupational licence fee to the charlty In order to run its busines8 from the charity'8 premises. In additlon to thls, the company also transfers any profits it makes to the charity under a Gift Aid agreement so the trustees work closety with the dlrectors to ty and ensure the company is profitable, thus ensuring extra income for the charlty. Trustee vacancles ar8 advertised and interested parties are asked to apply In writing. Interviews will be held and suitable candidates are then notified to their nominatlng body belng elther CISWO, Trade Union or members. The Trustee Board Is mad8 up of equal numbers of each nominating body. Flnanclal Revlew The charity showed net expenditure of £14,113 for the year as opposed to £23,460 in the previous year. The connected trading company was unable to transfer profits this year. Revlew of Actlvltleg The trustees are pleased and proud to support the sporting sections at the weffare. The cricket club as it stands has closed for the time being, however a new crlcket sectlon is golng to be using the facilities. The trustees would like to thank everyone connected with the welfare for all their help over the past year including the Secretaryrrreasurer, Sports Offlclals, Commlttee Persons, the Directors of the tradlng company, the Club Stewardess and her staff and all its members and guests who support the charity and its trading company (the Social Club) along wlth CISWO. Continued.. WEARMO TH MIN RS WELFARE SCHEME REPOR FOR THE Y FTH USTE NDED CONTINUED CEMB 202 Investment Pollcy The trustees have placed surplus liquid assets into interest bearing fixed term bond accounts. This means that the funds are available if required but are generating Income for the charity in the form of interest. Reserrfes Pollcy It is the policy of the trustees to maintaln unrestn'cted funds which are the free reseNes of the charity, at a level to provide sufficient fvnds to cover anticipated admlnlstration and support costs for a period of 12 months. Any additlonal reserves are held to provlde a capltal fund from repairs that will be required for the upkeep of the premises. Risk Managemont The trustees are aware of the operational and financial rlsks which the charlty faces and regularty reviews those risks to mitigate against any impact they may have on the charity. The major rlsks facing the charity are the continued success of the social dub from whlch It derlvès its main fvndlng, the support of Indmduals and the community in using the facilitles and the introduction of the younger generatlon to provide for the future. The trustees work closety with the directors, committee and members to address these risks. The trustees are carefully managlng the charity's flnanc88 and are satisfied that It will be able to continue to meet its obligatlons for the foreseeable future, Statement of Trustee8' Rosponslblllti08 Law applicable to charities In England and Wales requlred the trustees to prepare financlal statements for each financial year whlch give a true and falr view of the charity and of incoming resources and application of resources of the charlty for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then appty them consistentty; - observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed subject to any rnaterlal departures disclosed and explalned In the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charty win contlnue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charltles Act 2011. They are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. A //,. Signed - Trustee Print Name- Trustee Date INDEPENDEN INER, WEARMOUTH REPORT TO T LF ESC I report to the Trustees on my examination of the accounts of the above named charity (registered no. 520905) for the year ended 31 December 2023 which are set out on pages 5 to 9. onsibilities and basis of re ort 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). I report in respect of my examination of the Trustees, accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable directions given by the Charity Commission under sects'on 145(5)(b) of the 2011 Act. Ind end Examinerfs teme I have completed my examination. I confim that no material matters have come to my attents'on 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 ￿qUired by sectlon 130 of the Act; or (2) the accounts do not accord wlth those records; or (3) the accounts do not comply with the applicable accounting requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any ￿quireMent that the accounts give a "true and fair view, which is not a matter considered as part of an independent examlnation. I have no concerns and have come across no other matters in connection with the examination to ￿lch attention should be dra￿ in this report in order to enable a proper urKlerstanding of the accounts to be reached. J Wallage FCA On behalf of CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG Date WE RMO TH MIN SWE FARE SCHEME STATEMENT OF FINANCIAL ACTIVI IE FOR THE YEAR ENDED 31 DECEMBER 2023 te at Total 023 un unds 202 come and End0￿￿entS Ooccupational Licence O Section contributions and other pitch hire Other Income /Grant income ,A Rent received Advertising Snooker and Pool Investment income Sections income Nots 7,000 6,640 4,158 800 6,053 964 1,065 5,292 7,000 6,640 4,158 800 6,053 2,396 2,762 8,098 7,233 1 1,155 532 2,158 3,461 1,065 5,292 10 Total Income 31,972 31,972 34,795 LS Ex enditure Dire Charitable Ex en Support and project costs Sections expenditure re 43,581 43,581 1,588 53,881 3,037 10 1,588 43,581 1,586 45,167 56,918 rn nce osts Administration expenses Total Expendlture 918 918 44,499 1,586 46,085 57,800 NET (EXPENDITURE) (12,527) (1,586) (14,113) (23,005) Balan￿S brought forward 443,524 1,586 445,110 468,570 8alance8 carrled forward 430.997 430,997 445 565 7 0150 RMOUTH MINERS WELFARE SCHEME BALANCE SHEET AS AT 31 DECE BER 202 Notes 2023 022 FIXED ASSETS Tangible assets Investments 161,068 200,602 166,855 252,943 361,670 419,798 CURRENT ASSETS Debtors and prepayments Cash at bank and in hand Cash held by sections 18,264 51,981 16,646 7,962 1,586 10 70,245 26,194 SS: CURRENT LIABILITIES Creditors: Amounts falling due within one year (918) (882) NET CURRENT ASSETS 69,327 25.312 TOTAL NET ASSETS 430,997 445,110 Re es ntdb Unrestricted funds Designated funds 430,997 443,524 10 430,997 445,110 The accounts were approved by the trustees and signed on their behalf by Signed - Trustee Print Name- Trustee PLf)rt Date WEARMOUTH MINERS WELFARE SCHEME OTES TO TH FINANCIAL AT FOR THE YEAR ENDED 31 DECEMBER 2023 1. ACCOUNTING POLICIES a) 8asls of preparatlon and assessment of going concern The financial statements have been prepared under the histoncal cost convention unless otherwise ststed 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 Charltles (FRS102), the Financial Reporting Standard (FRS102) and the Charities Act 2011. The trustees conS￿er that there are no material uncertainties about the charity's ability to continue as a going concem. The trustees have a reasonable expectation that the charity has adequate reserves to contsnue in operatsonal existence for the foreseeable fvture. 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 that the amount of income receivable can be measured reliably. Donations are recognised when they are received. c) Expenditure recognltlon Liabilities are recognised as expenditure as soon a8 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. o) Deprociatlon Previously no depreciation was charged on fixed assets as the Trustees considered that the market value value of fixed assets to be considerably greater than the cost values of the assets. The Trustees have been advised that this is not in accordance with the Statement of Recommended Practice for Charities which require that fixed assets are depreciated over their estimated useful lives. So from January 2022 onwards assets have been depreaated as follows:. - Groundsmans House Land and buildings Fixtures, fittings and equipment 00 2 /- straight line 10 % . straight line fj Value Added Tax Value added tax is not recoverable by the charity and as such is included in the relevant costs in the Statement of Financial Activities. 2022 2. SUPPORT AND PROJ CT COST Groundsmans wages and pension costs Insurance Rates Repairs. maintenance and grounds upkeep Rent Depreciation 24,481 4,107 273 8,826 107 5,787 23,517 3,769 260 20,441 107 5,787 43,581 53,881 WEARMOUTH MINERS WELFARE SCHEME NOTES TO THE FINANCIAL TATE TS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 3. ADMINISTRATION EXP NSES Accountancy 918 882 918 882 Net book value at 1 Jan 2023 Dep'n charge for year Net book value at 1D c2023 4. TANGIBLE FIXED ASSETS Groundsmans House Land and buildings Fixtures, fittings and equipment 18,228 118,260 30,367 18,228 115,847 26,993 (2,413) (3,374) 166,855 (5,787) 161,068 The cricket ground is leased under a long lease (125 years) from the Coal Industry Social Welfare Organisation untsl 24 March 2122. INVESTMENT Business Bonds - Santander - Aldermore Hampshire Trust - Redwood Bank 87,337 57,134 45,852 62,620 89,186 47,149 64,267 200,602 252,943 BTORS Deferred income Balance due from Wearmouth Colliery Welfare 1,172 15,474 18,264 18,264 16,646 CASH AT BANK ND IN HAND Northern Rock Building Society Aldermore Easy Access Lloyds TSB Current Account 322 10,000 41,659 322 7,640 51,981 7,962 WEARMOUTH MINERS WELFARE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE Y AR ENDED 3 DECEMBER 023 2023 2022 CREDITORS: Amounts fallln Accruals and deferred income 918 882 9. CONTINGENT LIABILITIES AND CAPIT MIT NTS There were no contingent liabilities or capital commitments as at 31 December 2023. (2022: Nil) 10. SECTIONS Bal 81 Balance IF Rec vement in ear Cricket Club 1.586 (1,586) (1,586) 1,586 WEARMOUTH MINERS WELFARE SCHEME CRICKET CLUB YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME Subscriptions Matchday income 1,000 804 1,804 EXPENDITURE Equipment and sports dothing League fees, registrations and fines Insurance Ground rent Membership 480 70 285 920 80 1,586 (1,586) (1,835) EXCESS OF (EXPENDITURE) OVER INCOME INCOME OVER (EXPENDITURE) (1,586) (31) Balances brought forward (Deficit) for the year Balances carriod forward 1,586 (1,586) 1,617 (31) 1,586 Cash at bank and in hand 1,586 1,586 This section has now ceased 10