**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE** 

**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 DECEMBER 2024** 



**REGISTERED CHARITY NO: 522124** 

**PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE** 

**TRUSTEES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

P A BROWN & COMPANY LTD 16 ABBEY MEADOWS MORPETH 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE CONTENTS** 

||Page|
|---|---|
|Trustees’ Annual Report|1 - 3|
|Independent Examiner’s Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Unaudited Financial Statements|7 - 11|





**REGISTERED CHARITY NO: 522124** 

**PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** 

Due to family health problems the Chair of Trustees stepped down and was replaced by another lady Trustee. 

Thanks went to Christine for her hard work during her time as chair. Mrs L. Marcon took the chair. 

The Welfare has managed to develop its policies needed to comply with different aspects of the law and health and safety issues. Policies were in place but required updating. 

A number of grants were obtained, small amounts, to enable some electrical works to be carried out around the building. Larger repair works are still needed and quotes for the works are being collected to push this forward. 

Activities lost was the bingo as two former Trustees who ran it left and set the sessions up in the village social club. 

Due to bereavement, some activities stopped for a time and then restarted under new instructors. 

Due to some vandalism a number of windows have been bricked over which has led to a more secure building as these windows were situated in a darkened alleyway. 

Number of people attending the building has increased for specific activities, i.e. line dancing and band nights becoming very popular. Due to the diversity of the activities being run more of the population living outside of the Parish area are in attendance. 

## **Structure, Governance and Management** 

Governing document is the trust deed dated 20 December 1965 and scheme dated 16 June 1967 as amended by scheme dated 21 January 2004. 

1 



**REGISTERED CHARITY NO: 522124** 

**PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE** 

## **Financial Review** 

Our restricted reserves are matched against the depreciating assets of the charity plus any non-defrayed grant funding at the end of each financial year. Our unrestricted reserves, mainly represented by our cash resources, will continue to be managed carefully on a week-by-week basis to continue support for the Centre’s various activities. A summary of charity reserves at 31 December 2024 is as follows: 

|2024<br>Restricted Funds<br>11,607<br>Unrestricted Funds<br>4,634<br>16,241<br>31 December were as follows:<br>Fixed Assets Fund<br>11,607<br>11,607|2023<br>12,655<br>8,527<br>21,182<br>12,655<br>12,655|
|---|---|



Restricted reserves at 31 December were as follows: 

2 



**REGISTERED CHARITY NO: 522124** 

**PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE** 

## **Reference and Administration Details** 

Charity Name Pegswood Recreation Ground and Social Welfare Centre Charity Number 522124 

Principal Address Pegswood Recreation Ground and Social Welfare Centre Front Street Pegswood Northumberland NE61 6UF Board of Trustees L Marcon Chair J Hunter Trustee P Morano Trustee A Davey Trustee P Carr Trustee S Morgan Trustee D Young Trustee A Sambrook Trustee Independent Examiner P A Brown & Company Ltd 16 Abbey Meadows Morpeth NE61 2BD Bankers Co-operative Bank plc Norfolk House 84-86 Grey Street Newcastle upon Tyne NE1 6BZ 

## **Approval** 

This report was approved by order of the Board of Trustees on 19th January 2026 and signed on its behalf by 

L Marcon Chair of Trustees 

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**REGISTERED CHARITY NO: 522124** 

## **INDEPENDENT ACCOUNTANTS REPORT TO THE TRUSTEES OF PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE FOR THE YEAR ENDED 31 DECEMBER 2024** 

I report to the trustees on my examination of the accounts for the year ended 31 December 2024, which are set out on pages 5 to 11. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in my carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner’s statement** 

I have completed my examination. I 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: 

- 1 accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

- 2 the accounts do not accord with those records; or 

3 the accounts do not comply with the applicable 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. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn to this report in order to enable a proper understanding of the accounts to be reached. 

P A Brown P A Brown & Company Ltd 16 Abbey Meadows Morpeth NE61 2BD 

19th January 2026 

4 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** 

|Note<br>**Incoming Resources**<br>**Income and endowment from:**<br>Donations and legacies<br>**Charitable activities:**<br>Grants receivable<br>Bar/Kitchen Sales<br>Games and entertainment<br>Sundry income<br>**Total**<br>3<br>**Resources Expended**<br>**Expenditure on:**<br>Charitable activities<br>Other<br>**Total**<br>4<br>**Net income / (expenditure)**<br>**Transfers between funds**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>**Total funds brought forward**<br>**Total Funds carried forward**<br>11|Unrestricted<br>Funds<br>£<br>-<br>3,123<br>4,119<br>4,061<br>25,419<br>36,722<br>38,777<br>1,837<br>40,614<br>(3,893)<br>-<br>(3,893)<br>8,527<br>4,634|Restricted<br>Funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>1,048<br>-<br>1,048<br>(1,048)<br>-<br>(1,048)<br>12,655<br>11,607|2024<br>2023<br>£<br>£<br>-<br>-<br>3,123<br>2,027<br>4,119<br>4,681<br>4,061<br>7,380<br>25,419<br>20,861<br>36,722<br>34,949<br>39,825<br>37,641<br>1,837<br>1,230<br>41,662<br>38,871<br>(4,941)<br>(3,922)<br>-<br>-<br>(4,941)<br>(3,922)<br>21,182<br>25,104<br>16,241<br>21,182|
|---|---|---|---|



The statement of financial activities includes all gains and losses in the year. All incoming resources expended derive from continuing activities. 

5 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE BALANCE SHEET AS AT 31 DECEMBER 2024** 

|Note<br>**Fixed Assets**<br>Tangible assets<br>6<br>**Current Assets**<br>Stocks<br>7<br>Debtors<br>8<br>Cash in hand and at bank<br>9<br>**Creditors**<br>Amounts falling due within<br>one year<br>10<br>**Net current assets / (liabilities)**<br>**Total assets less current liabilities**<br>**Funds of the charity**<br>Restricted income funds<br>Unrestricted funds<br>**Total funds**<br>11|Unrestricted<br>Funds<br>£<br>-<br>408<br>2,912<br>3,024<br>6,344<br>(1,710)<br>4,634<br>4,634<br>-<br>4,634<br>4,634|Restricted<br>Funds<br>£<br>11,607<br>-<br>-<br>-<br>-<br>-<br>-<br>11,607<br>11,607<br>-<br>11,607|2024<br>2023<br>£<br>£<br>11,607<br>12,655<br>408<br>200<br>2,912<br>2,221<br>3,024<br>7,993<br>6,344<br>10,414<br>(1,710)<br>(1,887)<br>4,634<br>8,527<br>16,241<br>21,182<br>11,607<br>12,655<br>4,634<br>8,527<br>16,241<br>21,182|
|---|---|---|---|



The financial statements were approved by order of the Board of Trustees on 19th January 2026 and signed on its behalf by: 

L Marcon Chair of Trustees 

The notes on pages 7 to 11 form part of the financial statements 

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**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## 1 **BASIS OF PREPARATION** 

## (a) Basis of accounting 

The financial statements have been prepared under the historical cost convention with items recognised at cost of transaction values 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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011. 

The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared on the going concern basis which assumes that the Welfare Centre will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of grant funding, which the Board of Trustees is confident will continue. 

## 2 **ACCOUNTING POLICIES** 

## (a) Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. 

## (b) Expenditure 

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 costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. 

- (c) Depreciation 

Depreciation is provided by the Welfare Centre to write off the cost of tangible fixed assets by equal annual installments over their estimated useful life as follows: 

|Building extension|Straight line over remaining lease term to|
|---|---|
||12/05/2049|
|Building renovations|Straight line over remaining lease term to|
||12/05/2049|
|Furniture, fittings and equipment|Straight line at 20%|



(d) Stocks: Stocks have been valued at cost by the trustees of the Welfare Centre 

7 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## 2 **ACCOUNTING POLICIES (continued)** 

## (e) Support costs 

Support costs represent the cost of running the charity’s premises and general cost incurred in carrying out the charitable objectives of the charity. 

## (f) Management and administration expenditure 

Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity. 

## (g) Taxation 

As a charity, Pegswood Recreation Ground and Social Welfare Centre is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to charitable objects, no tax charges have arisen on the charity. 

## (h) Fund Accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

## 3 **ANALYSIS OF INCOME** 

|Donations and legacies<br>**Grants receivable**<br>Pegswood Parish Council<br>Northumberland County Council<br>Other grants<br>**Bar/Kitchen Sales**<br>Bar and kitchen sales<br>**Games and Entertainments**<br>Bingo/Housey<br>Pool and snooker table|2024<br>2023<br>£<br>£<br>-<br>-<br>-<br>-<br>2,573<br>-<br>550<br>2,027<br>3,123<br>2,027<br>4,119<br>4,681<br>1,753<br>3,360<br>2,308<br>4,020<br>4,061<br>7,380|
|---|---|



8 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## 3 **ANALYSIS OF INCOME (continued)** 

|**Sundry income**<br>Membership subscriptions<br>Hall rents<br>Other income<br>Bowls<br>Dog training<br>Pilates<br>Performance Arts (Dance & Panto)<br>4 **ANALYSIS OF EXPENDITURE**<br>**Raising funds**<br>Bar and kitchen purchases<br>Games and entertainments<br>Glasses, bar requisites & cleaning<br>**Charitable activities**<br>Salaries, wages and national insurance<br>Repairs and renewals<br>Heating and lighting<br>Rent, rates and water<br>Insurances, rentals & licenses<br>Telephone<br>Printing, postage and stationery<br>Computer expenses<br>Sundry expenditure<br>Depreciation (restricted)<br>**Other expenditure**<br>Accountancy and independent examination<br>Legal fees<br>**Total expenditure**|2024<br>2023<br>£<br>£<br>197<br>320<br>4,520<br>5,883<br>236<br>104<br>1,363<br>1,410<br>780<br>-<br>983<br>-<br>17,340<br>13,144<br>25,419<br>20,861<br>2024<br>2023<br>£<br>£<br>6,264<br>6,425<br>-<br>-<br>489<br>730<br>6,753<br>7,155<br>9,875<br>8,478<br>4,716<br>3,682<br>6,728<br>9,572<br>4,112<br>2,939<br>4,270<br>4,209<br>509<br>467<br>317<br>131<br>120<br>153<br>1,377<br>441<br>1,048<br>414<br>33,072<br>30,486<br>1,517<br>1,230<br>320<br>-<br>1,837<br>1,230<br>41,662<br>38,871|
|---|---|



9 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## 5 **PAID EMPLOYEES** 

The average monthly number of employees during the year was two. No employee received emoluments in excess of £60,000. 

|6 **TANGIBLE FIXED ASSETS**<br>Furniture,<br>Buildings<br>fittings &<br>Computer<br>& renovations equipment<br>equipment<br>£<br>£<br>£<br>**Cost**<br>Brought forward<br>159,575<br>31,290<br>3,168<br>Additions<br>-<br>-<br>-<br>Disposal<br>-<br>-<br>-<br>Carried forward<br>159,575<br>31,290<br>3,168<br>**Depreciation**<br>Brought forward<br>149,625<br>30,486<br>1,267<br>Charge for the year<br>383<br>31<br>634<br>Disposal<br>-<br>-<br>-<br>Carried forward<br>150,008<br>30,517<br>1,901<br>**Net book value (NBV)**<br>Brought forward<br>9,950<br>804<br>1,901<br>Carried forward<br>9,567<br>773<br>1,267<br>7 **STOCKS**<br>Bar stocks on hand<br>8 **DEBTORS AND PREPAYMENTS**<br>Payments in advance<br>Debtors<br>9 **CASH AT BANK AND IN HAND**<br>Co-operative Bank<br>Cash<br>10 **CREDITORS AND ACCRUALS**<br>Sundry creditors and accrued charges|2024<br>2023<br>£<br>£<br>194,033<br>194,033<br>-<br>-<br>-<br>-<br>194,033<br>194,033<br>181,378<br>180,964<br>1,048<br>414<br>-<br>-<br>182,426<br>181,378<br>12,655<br>13,069<br>11,607<br>12,655<br>2024<br>2023<br>£<br>£<br>408<br>200<br>965<br>1,661<br>1,947<br>560<br>2,912<br>2,221<br>2,974<br>6,843<br>50<br>1,150<br>3,024<br>7,993<br>1,710<br>1,887|
|---|---|



10 



**REGISTERED CHARITY NO: 522124** 

## **PEGSWOOD RECREATION GROUND AND SOCIAL WELFARE CENTRE NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

Unrestricted Restricted Funds Funds Total 

## 11 **CHARITY FUNDS** 

|Analysis of net assets between funds<br>Fund balances at 31 December 2024<br>are represented by:<br>Fixed Assets<br>Net current assets<br>Total net assets<br>**Statement of funds**<br>As at<br>01.01.24<br>Income<br>Restricted reserves<br>12,655<br>-<br>Unrestricted reserves<br>8,527<br>36,722<br>21,182<br>36,722|Funds<br>Funds<br>Total<br>-<br>11,607<br>11,607<br>4,634<br>-<br>4,634<br>4,634<br>11,607<br>16,241<br>Net<br>As at<br>Expenditure<br>Transfers<br>31.12.24<br>(1,048)<br>-<br>11,607<br>(40,614)<br>-<br>4,634<br>(41,662)<br>-<br>16,241|
|---|---|



## 12 **TRANSACTIONS WITH TRUSTEES** 

No trustee received any remuneration or expenses during the year. The control of the club vests in the members, via the committee. No individual has control. There were no significant transactions with related parties. 

11