Charity re8lstratlon number 522255 NEWSTEAD COLLIERY MINERS, WELFARE TRusr ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NEWSTEAD COLLIERY MINERS, WELFARE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Johnston Ms L Leadbeater M5 V K Leadbeater Mr P Dendle Mr C Reynolds Mrs G Winter Hilary Smailles (Appointed l June 2024) (Appointed l June 20241 {Appointed l June 2024) Charity number 522255 Principal address Tilford Road Newstead Village Nottingham NG15 OBS Independent examiner TC Group Celixir House Stratford Busine55 & Technology Park Innovation Way. Banbury Road Stratford-upon-Avon Warwickshire United Kingdom CV37 7GZ NEWSTEAD COLLIERY MINERS. WELFARE TRusr CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-16 NEWSTEAD COLLIERY MINERS, WELFARE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial ststements forthe year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial ststements and comply with the trust's Igoverning documentl. the Charities Act 2011 and 'Accounting and Reporting by Charities- Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effertive l January 20191. Objectives and activities The provision of an institute and recreational facilities for the benefit of the inhabitants land in particular, but not exclusively, such of the said inhabitants as 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 or life for the said inhabitants. To provide and maintain a youth centre and other recreational facilities for the benefit of the people of Newstead. particularly those who are members of the mining community. Under the terms of the scheme dated 10th January 2007. the land and buildings identified in the scheme shall be used by the objects of the scheme and if not required then provided that the trustees shall have consulted and obtsined the agreement of the trustees of CISWO in advance, the Trustees may use the charity's land and other assets for such other purposes as are exclusively charitable at law for the direct benefit of the inhabitants of the area of benefit. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in decidin8 what activities the trust should undertake. We provide a building for the young people of the village to meet and socialise in. as well as provide low cost and affordable provisions for people of the village, the community. and surrounding areas for various classes. e.g. arts and crafts. exercise, toddler groups. IT sessions. and various other groups. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. NEWSTEAD COLUERY MINERS. WELFARE TRusr TRUSTEES REPORT (CONTINUED) FOR ThIE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance Significont t7ctivities ond achievements against objectives The Courtyard Cafe ha5 been popular. and more visitors continue to support the cafe. All the regular group activities continue to expand and grow, including dog training and dog and bird groupslshows, wood carving, hobby groups. learning courses. art and craft design, Art classes have proved to be very popular this year. We have welcomed A￿FE who provided free course for the community. All the activity classes continue to be very popular and all the free advice sessions provided for the community for help with energy costs. health. wellbeing and benefit advice. Council meetings, Newstead Parish Council meetings, NHS. and other public and voluntary meetings. and Northern Soul nights continue regularly. The Community Food Pantry on-site has continued to grow nd has been very popular with numbers of people joining surpassing any expertations. This is to support the community and surrounding areas to help reduce food from going to landfill sites and providing10st cost food to the community. The Centre has also sUPPOrted lots of community events such as providing Xmas lunches, and special events. and activity days for young people. Christmas and Craft Fayres and communrty events such as craft and activity days for child￿n. Providing low cost classrooms and packed lunches for the young people attending CAST which is an alternative provision in Newstead Village that uses fishing and hands on work to sustain young people's interest and motivation in learnin8 new skills and pursuin8 their objectives in developing their life skills. The Trustees have continued to support the Centre in its efforts to maintain the building and attract new businesses. and are taking a more informed interest in financial management. We have welcomed 81ue sky care as new tenants in our office spaces. The police have re8ularly run speed awareness courses. we continue to attract regular uses for our conference facilities. The Centre coordinator continues to attract and grow new business opportunities in the Centre by offering conference/seminar facilities, classroom learning. employment initiatives to the community and offering FREE support sessions for the local community to engage with energy advice, emergency services talks and advice, employment advice, and health and benefit advice. Also 5UPPOrting new businesses by offering offices to support beauty and treatment related practice, art & design classes/studio, and care working practices. To look at expansion of the Community Food Pantry which supports the community and neighbouring areas to look at plans for further development to offer further support. - All of the activities will provide greater financial independence and security for the future. Regular training sessions and conferences/seminars and meetings are taking place in a new Conference decorated room facility, and other rooms in the Centre continue to offer use from the NHS, Age UK, Local Councils and Care practice training of employees. Financial revlew The Trustees continue to support the work going into the Centre to continue building on the growth in the Centre with conference facilities, community activity redecoration of the Centre. and renting out offices to businesses. To continue to increase our confidence in the financial future of the Centre. To continue to increase the business and community activities and to be able to offer more opportunities in order to become self-5UStainable in the future in some areas to be able to cover some employee positions. 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. Any additional reserves are held to provide a capital fund for repairs that will be required for the upkeep of the premises. Trustees recognise the urgent need to invest in refurbishment which will then bring in new income. Structure. governance and management NEWSTEAD COLLIERY MINER5, WELFARE TRUST TRusfEES 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.. Mr G Johnston Ms L Leadbeater Ms V K Leadbeater MsHEScott (Resigned 4 June 2024} {Re5igned l January 20241 (Appointed l June 2024) (Appointed l June 2024) {Appointed l June 20241 Mr N Lowe Mr P Dendle Mr C Reynolds Mrs G Winter Hilary Smailles Recruitment and appointment of trustees Trustee vacancies are advertised and interested parties are asked to apply in writing. Interviews will be held and suitable candidates are the notified to their nominating body either C15WO, Trade Unions or members. The Trustee Board is made up of equal numbers of each nominating body. Organi5ational Structure The charity is responsible for maintaining the premises and its contents 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. the main one being the hirin8 Out of its facilities for use by local businesses and the general public. The trustees report was approved by the Board of Trustees. Ms V K Leadbeater Trustee 12 December 2024 NEWSTEAD COWERY MINERS. WELFARE TRUST INDEPENDENT EXAMINER'S REpoKr TO THE TRUSTEES OF NEwsfEAD COLLIERY MINERS. WELFARE TRUST I report to the trustees on my examination of the financial statements of Newstead Colliery Miners, Welfare Trust {the trust) for the year ended 31 March 2024. Responsibilltles and basis of report As the trustees of the trust 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 trust'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){bl of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the chartty has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting bv Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrnwn. l understand that this has been done in order for financial statements to provide a true and fair view in accordante with Generally Accepted Accounting Practice effertive for reporting periods beginning on or after I January 2015. 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= accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records,. or the financial statements 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 in this report in order to enable a proper understanding of the financial statements to be reached. A. Q.a) TC Group Celixir House Stratford Business & Techno108y Park Innovation Way, Banbury Road Stratford-upon-Avon Warwickshire CV37 7GZ United Kingdom NEWSTEAD COLLIERY MINERS, WELFARE TRusr STATEMENT OF FINANCIAL AcrivmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restricted fund5 funds 2024 2024 Totsl Unrestricted Restricted fund5 fund5 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments 21.335 71,693 54.314 77 21,335 71.693 54,314 77 36.635 65,648 32,359 70 36,635 72.412 32,359 70 6,764 Total Income 147,419 147.419 134,712 6,764 141.476 Expenditure on: Raising fund5 Charitable activities 15.612 150,797 15,612 152.438 11.650 158,797 11,650 161.764 1.641 2,967 Total expenditure 166,409 1,641 168.050 170,447 2,967 173,414 Net expenditure 118,990) {1,6411 {20.6311 (35,735} 3,797 131,9381 Transfers between funds 1.900 {1.9001 Net movement In funds (18,990} (1,641) (20.631) (33,835) 1,897 {31,938} Reconciliation of funds: Fund balance5 at l April 2023 858.017 1.897 859,914 891,852 891,852 Fund balances at 31 March 2024 839,027 256 839,283 858,017 1.897 859.914 The statement of financial activities includes all gains and 105se5 recognised in the year. All income and expenditure derive from continuing activities. NEWSTEAD COLLIERY MINERS. WELFARE TRusr BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 14 832.127 834,306 Current assets Stocks Debtors Cash at bank and in hand 15 718 718 16 24,654 5.676 21.271 22,630 31.048 44.619 Creditors: amounts falling due wlthln one year 17 (23.8921 (19,011) Net current assets 7,156 25,608 Total assets less current liabilities 839,283 859,914 Net assets excluding pension liability 839,283 859,914 The funds of the trust Restricted income funds Unrestricted funds 18 256 839,027 1.897 858,017 839,283 859,914 The financial statements were approved by the trustees on 12 December 2024 Ms V K Leadbeater Trustee NEWSTEAD COLLIERY MINERS, WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Accountlng conventDon The financial statements have been prepared in accordance with the trust's tgoverning document], the Charities Art 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102,1 and the Charities SORP "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 1021" {effective l January 20191. The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantsge of the provisions in the SORP for charities not to prepare a Ststement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling. which is the functional currency of the trust. 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 Goin8 concern At the time of approving the financial statements. the trustees have a reasonable expectation that the trust 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 trustee5 in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial ststements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust. 1.4 Income Income is recognised when the trust 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 trust 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. NEWSTEAD COLLIERY MINERS, WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Atcounting policies Icontinuedl Legacies are recognised on receipt or otherwise if the trust 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. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to a single activity a￿ allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activitie5 on 3 basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. 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 losse5. Depreciation is recognised so as to write off the cost or valuation of assets le55 their residual values over their useful lives on the following bases: Freehold land and buildings Plant and equipment Fixtures and fittings Computers Not charged IO% SL IO% RB and from 2018 10% SL 25% SL 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 activitie5. 1.7 Impairment of fixed assets At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment Ios5. If any such indication ex15ts, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are ststed at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, dirert 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. NEWSTEAD COLLIERY MINERS, WELFARE TRU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Icontinued) 1.9 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. 1.10 Flnancial instruments The trust 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 trust's balance sheet when the trust 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. Basicfinancial 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 transattion, 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. Bosicflnancial liobilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unle55 the arrangement constitutes a financing transattion, 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. Debt instruments are subsequently carried at amortised cost. using the effertive interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non