STOBSWOOD MINERS' WELFARE RECREATION CENTRE
REGISTERED CHARITY NO: 522143
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
STOBSWOOD MINERS' WELFARE RECREATION CENTRE
ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
INDEX
,
| CONTENTS | PAGE |
|---|---|
| Legal and Admininstrative Details | 1 |
| Trustees' Report | 2-3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| NotestotheFinancialStatements | 7-9 |
STOBSWOOD MINERS' WELFARE RECREATION CENTRE CHARITY REGISTRATION NO: 522143
LEGAL AND ADMINISTRATIVE DETAILS
TRUSTEES: | Watson K Batson S Townsley JC Wiggett S Douglas J Stewart P Mcpherson D King SCHEME ADDRESS: Stobswood Morpeth NE61 5QA
INDEPENDENT EXAMINER:
J Wallage FCA CISWO (Trading) Limited The Old Rectory Rectory Drive Whiston Rotherham $60 4JG
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 7.
Constitution and Objects
The charity is governed by a scheme dated 19 November 2004, and is registered as a Charity on 2 December 1963 under the number 522143.
Its objective is the provision of a recreation and welfare centre for the benefits and inhabitants (and in particular but not exclusively, such of the said inhabitants are members of the mining community) of the area of benefit without distinction of political, religious or other opinions with the object of improving the conditions of life for the said inhabitants.
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 grounds in a suitable state of repair for use by those who live in the surrounding area. It raises income through various charitable activities, grant income and investment income. In addition to this, the connected trading company, Stobswood Miners' Welfare Recreation Centre Social Club Limited, pays an annual Occupational Licence Fee to the charity in addition to gift-aiding its taxable profits to the Charity for charitable usage.
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.
Financial Review
The charity had net outgoing resources of £3,677 (2024 net incoming resources £1,261). The balance sheet remains very healthy with total net assets of £113,687.
Review of Activities and Public Benefits
The trustees have referred to the guidance given by the Charity Commission on Public Benefit when reviewing the aims and objectives and resulting activities are outlined below.
It has been another challanging year for the Welfare due to the rising cost of living, but hopefully with the support of our user groups and members we can continue to go forward. | would like to start by saying a few thanks, firstly many thanks to Fiona, our secretary and treasurer. The work and commitment she puts in can never be underestimated, without her | can never begin to think where we would be now. Thanks also to Kevin and David, who together seek out the funding through grant schemes to enable us to improve and maintain the facilities. As | speak the bathroom facilities have all undergone much needed refurbishment, receiving positive feedback. We have some new drainage installed; however, we still need to address further problems and will actively seek to have that done in the near future. We continue to hire out our mobile bar for various events at the community centre, thanks go to those volunteers who help in the transportation of this. It is encouraging to see the Welfare still being used for family events throughout the year, and thanks must go to the staff, Karen, Julia and casuals for covering these events. Thanks go to Paul, for again, maintaining a top quality playing field. Thanks also to the committee members, a tough job to do.
During the year we have been represented by the following sports teams:
Indoor
2 Pool teams, 1 super league darts team, 2 men's darts teams on Fridays.
Outdoors
2 Saturday cricket teams, 2 senior football teams, various ages junior football teams.
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
Review of Activities (continued)
In closing our biggest thanks go to the members for their continued support and the volunteers who work behind the scenes. It's great to have extra hands willing to help out when needed.
Investment Policy
The trust deed authorises the Trustees to make and hold investments using the general funds of the charity. Investments are managed by an investment company who report regularly to the Trustees.
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.
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 they 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, committee and members to address these risks.
Statement of Trustees’ Responsibilities
Law applicable to charities in England and Wales required 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 of fraud and other irregularities.
The Trustees are carefully managing the charity’s finances and are satisfied that it will be able to continue to meet its obligations for the foreseeable future.
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Signed - Trustee
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Print Name - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STOBSWOOD MINERS' WELFARE RECREATION CENTRE
| report to the Trustees on my examination of the accounts of the above named charity (registered no. 522143) for the year ended 31 March 2025, set out on pages 5 to 9.
Responsibilities and basis of report
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).
| report in respect of my examination of The Trustees’ accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
independent Examiners Statement
| have completed my examination. | 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 Charity 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.
| 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 accounts to be reached.
J WallagePinFCA On behalf of CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unres- | Res- | Desig- | ||||
|---|---|---|---|---|---|---|
| tricted | tricted | nated | 2025 | 2024 | ||
| Note | Funds | Funds | Funds | Total | Total | |
| a | £ | £ | £ | £ | ||
| Income and Endowments | ||||||
| Investment income | 1,603 | - | - | 1,603 | 1,576 | |
| Grants | 2 | 2,676 | - | - | 2,676 | 20,149 |
| Charitable activities | 1,789 | - | - | 1,789 | 1,138 | |
| Occupational licence | 3,600 | - | - | 3,600 | 3,600 | |
| Gift aid | - | - | - | - | 1,971 | |
| Sections movements | - | - | 16,966 | 16,966 | 8,700 | |
| Total Incoming Resources | 9,668 | - | 16,966 | 26,634 | 37,134 | |
| Expenditure | ||||||
| Direct Charitable Expenditure | ||||||
| Repairs and maintenance | 2,443 | 9,688 | - | 12,131 | 21,107 | |
| Machine running costs | 1,281 | - | - | 1,281 | 1,417 | |
| Rates and water | 941 | - | - | 941 | 1,940 | |
| Insurance | 3,132 | - | - | 3,132 | 2,862 | |
| Donations | 65 | - | - | 65 | 230 | |
| Sundry expenses | 423 | - | - | 423 | 150 | |
| Depreciation | 3 | 7,624 | 1,006 | - | 8,630 | 10,502 |
| 15,909 | 10,694 | - | 26,603 | 38,208 | ||
| Administration | ||||||
| Accountancy | 717 | - | - | 717 | 682 | |
| Officials expenses | 900 | - | - | 900 | 900 | |
| Total expenditure | 17,526 | 10,694 | - | 28,220 | 39,790 | |
| (Losses) / Gains on investment assets | (2,091) | - | - | (2,091) | 3,917 | |
| NET MOVEMENT OF RESOURCES | (9,949) | (10,694) | 16,966 | (3,677) | 1,261 | |
| Balance brought forward at 1 April 2024 | 90,240 | 14,720 | 12,404 | 117,364 | 116,103 | |
| Balancecarriedforwardat31March2025 | 80,291 | 4,026 | 29,370 | 113,687 | 117,364 |
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
BALANCE SHEET AS AT 31 MARCH 2025
| Notes | 2025 | 2024 | |||
|---|---|---|---|---|---|
| £ | £ | g | £ | ||
| Fixed Assets | |||||
| Tangible assets | 3 | 15,539 | 24,169 | ||
| Investments | 4 | 42,779 | 44,870 | ||
| Current Assets | |||||
| Debtors and prepaid expenses | 5 | 4,854 | 4,008 | ||
| Cash at bank and in hand | 22,091 | 34,480 | |||
| Balances held by sections | 1 | 29,370 | 12,404 | ||
| 56,315 | 50,892 | ||||
| Less: Current Liabilities | |||||
| Creditors falling due within one year | 6 | (946) | (2,567) | ||
| Net Current Assets | 55,369 | 48,325 | |||
| TOTAL NET ASSETS | 113,687 | 117,364 | |||
| Represented by:- | |||||
| Unrestricted Fund | 80,291 | 90,240 | |||
| Restricted Fund | 4,026 | 14,720 | |||
| Designated funds - Sections | 7 | 29,370 | 12,404 | ||
| 113,687 | 117,364 |
The financial statements were approved by the trustees and signed on their behalf by: A
Signed - Trustee
Print Name - Trustee
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VX -la- 25
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Date
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
a) Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and the Financial reporting Standard (FRS102) and the Charities Act 2011.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. The trustees have a reasonable expectation the Trust has adequate reserves to continue in operational existence for the foreseeable future. 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 the amount of income receivable can be measured reliably.
c) Expenditure Recognition
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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Grants are recognised when they are approved and the intention has been communicated to the recipient.
d) Depreciation
Depreciation is provided to write off the cost or valuation less estimated residual of fixed assets over their expected useful lives.
- Land and buildings 10% straight line basis - Buildings alterations 10% straight line basis - Furniture, fittings and equipment 20% straight line basis
2. GRANTS RECEIVED
Revenue grants are recognised in the Statement of Financial Activities on a received basis and are matched with the expenditure towards which they are intended to contribute.
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2025
| Furniture, | Furniture, | ||||||
|---|---|---|---|---|---|---|---|
| Land | and | Fittings | and | Building | Total | ||
| 3. | TANGIBLE FIXEDASSETS | Buildings | Equipment | Alterations | |||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 1 April 2024 | 70,169 | 51,213 | 76,089 | 197,471 | |||
| Additions | - | - | - | - | |||
| At 31 March 2025 | 70,169 | 51,213 | 76,089 | 197,471 | |||
| Depreciation | |||||||
| At 1 April 2024 | 66,610 | 30,603 | 76,089 | 173,302 | |||
| Charge for the year | 1,283 | 7,347 | - | 8,630 | |||
| At 31 March 2025 | 67,893 | 37,950 | 76,089 | 181,932 | |||
| Net Book Value | |||||||
| At 31 March 2025 | 2,276 | 13,263 | - | 15,539 | |||
| At 31 March 2024 | 3,559 | 20,610 | - | 24,169 | |||
| 2025 | 2024 | ||||||
| 4. | FIXED ASSETS INVESTMENTS | £ | 72 | ||||
| Charities Official Investment Fund - COIF | 42,779 | 44,870 | |||||
| 2025 | 2024 | ||||||
| 5. | DEBTORS AND PREPAID EXPENSES | £ | £ | ||||
| Trade Debtors | 455 | - | |||||
| Prepayments | 2,190 | 2,037 | |||||
| VAT | 209 | - | |||||
| Amountowed by Stobswood Miners' Welfare | |||||||
| Recreation Centre Social Club Ltd | 2,000 | 1,971 | |||||
| 4,854 | 4,008 |
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STOBSWOOD MINERS' WELFARE RECREATION CENTRE
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||
|---|---|---|---|
| 6. | CREDITORS FALLING DUE WITHIN ONE YEAR | £ | £ |
| Trade creditors | 229 | 363 | |
| VAT | - | 1,522 | |
| Accruals | 717 | 682 | |
| 946 | 2,567 |
| Brought | Movement | Carried | ||
|---|---|---|---|---|
| 7. | BALANCES HELD BYSECTIONS | Forward | in Year | Forward |
| £ | £ | £ | ||
| Cricket Club | 10,160 | (7,585) | 2,575 | |
| Stobswood WelfareAFC | 2,244 | 24,551 | 26,795 | |
| 12,404 | 16,966 | 29,370 |
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