HAMSTEAD SOCIAL WELFARE CENTRE REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
WALLACE CROOKE Chartered Accountants
Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
HAMSTEADSOCIAL WELFARE CENTRE
CHARITY INFORMATION
CHARITY NO 5 TRUSTEES : SECRETARY : INDEPENDENT ACCOUNTANTS :
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522747
P. Corry
B. Cresswell
T. Hannon
J. Baker
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J. Williams
Wallace Crooke Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
| CONTENTS | : | Pages |
|---|---|---|
| Trustees’ Report | 1 | |
| IdenpendentAccountant's Report | 2 | |
| Statementof Financial | Activities | 3 |
| Balance Sheet | 4 | |
| Notes to the Financial | Statements | 5-8 |
| Statement ofTrustees’ | responsibilities | 9 |
| IncomeandExpenditure | A-B |
HAMSTEAD SOCIAL WELFARE CENTRE REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent: - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's accountants are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Approved by order of the board of trustees ON o.oo. cocccecccececceseevereseseevevese. and signed on its behalf by:
Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAMSTEAD SOCIAL WELFARE CENTRE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
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We report on the accounts of the Charity for the year ended 31 March 2025 which are set out on pages3 to 8.
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RESPECTIVE RESPONSIBILITIES OF TRUSTEEES AND EXAMINER
The Charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:-
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. examine the accounts under Section 145 of the 2011 Act;
‘ follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b)
of the 2011 Act; and
F state whether particular matters have come to our attention.
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BASIS OF INDEPENDENT EXAMINER'S REPORT
Our examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view’ and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
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In connection with our examination, no matter has come to our attention.
1 which gives us reasonable cause to believe that, in any material respect, the requirements:-
. to keep accounting records in accordance with Section 130 of the 2011 Act; and
, to prepare accounts which accord with the accounting records and comply with the accounting
requirements of the 2011 Act
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have not been met; or
2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Wallace Crooke Limited
Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
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HAMSTEAD SOCIAL WELFARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Endow- | Total | |||||||||
| Note | General | ment | Total | Eunds | ||||||
| £ | £ | £ | £ | |||||||
| INCOMING RESOURCES | ||||||||||
| Incoming resources | ||||||||||
| from generated funds | ||||||||||
| Activities for | ||||||||||
| generating funds | 3,494 | - | 3,494 | 2,603 | ||||||
| Investment income | 2 | 5,710 | - | 5,710 | 15,730 | |||||
| Incoming resources | ||||||||||
| from charitable activities | 27,151 | - | 27,151 | 23,517 | ||||||
| TOTAL INCOMING RESOURCES | 36,355 | - | 36,355 | 41,850 | ||||||
| RESOURCES EXPENDED | ||||||||||
| Charitable activities | 3 | 64,102 | 2,110 | 66,212 | 80,943 | |||||
| Governance costs | 4 | 1,250 | - | 1,250 | 1275 | |||||
| TOTAL RESOURCES EXPENDED | 65,352 | 2,110 | 67,462 | 82,218 | ||||||
| NET INCOMING RESOURCES | ( | 28,997 | )( | 2,110 )( | 31,107 )( | 40,368 | ) | |||
| UNREALISED GAINS ON | ||||||||||
| INVESTMENT ASSETS | - | 2,620 | 2,620 | 3,887 | ||||||
| REALISED GAINS ON | - | 3,235 | 3,235 | 3569 | ||||||
| INVESTMENT ASSETS | ||||||||||
| NET MOVEMENT IN FUNDS | ( | 28,997 | ) | 3,745 | ( | 25,252 )( | 40,686 | ) | ||
| FUND BALANCES BROUGHT | ||||||||||
| FORWARD AT 01.04.2024 | 61,353 | 479,685 | 541,038 | 599,168 | ||||||
| FUND BALANCES CARRIED | ||||||||||
| FORWARDAT31.03.2025 | 32,356 | 483,430 | 515,786 | 558,482 |
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| HAMSTEAD SOCIAL WELFARE | HAMSTEAD SOCIAL WELFARE | CENTRE | |||
|---|---|---|---|---|---|
| BALANCE SHEET 31 MARCH 2025 |
|||||
| 2025 | 2024 | ||||
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible fixed assets | 6 | 263,741 | 243,779 | ||
| Investments | 7 | 160,418 | 165,616 | ||
| 424,159 | 409,395 | ||||
| CURRENT ASSETS | |||||
| Debtors | 8 | 15,331 | 19,921 | ||
| Bank balances | 9 | 117,256 | 153,372 | ||
| 132,587 | 173,293 | ||||
| Less CURRENT LIABILITIES | |||||
| falling due within one | |||||
| year | 10 | 40,960 | 41,650 | ||
| NET CURRENT ASSETS | 91,627 | 131,643 | |||
| TOTAL ASSETS | 515,786 | 541,038 | |||
| Represented by:- | |||||
| THE CENTRE'S FUNDS | |||||
| General funds | 11 | 32,356 | 61,353 | ||
| Endowmentfunds | 11 | 483,430 | 479,685 | ||
| 515,786 | 541,038 |
Approved by the Trustees on
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HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 2015)’. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value
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.
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 cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Reurbishment: 2% on cost. Equipment : 10% on WDV.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
| INVESTMENT INCOME | 2025 | 2024 |
|---|---|---|
| £ | ; | |
| Bank interest received | 1,304 | 2,064 |
| Income from investments | 3,606 | 2,620 |
| Gift aid | - | 10,246 |
| Inpost rental income | 800 | 800 |
| 5,710 | 15,730 |
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HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
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5)
| ANALYSIS OF TOTAL RESOURCES EXPENDED | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Charitable activities-unrestricted funds | ||
| Staff costs | 34,296 | 31,857 |
| Premises costs | 26,453 | 24,885 |
| Repairs and greenkeeping costs | 3,188 | 21,598 |
| Sundry costs | 165 | 445 |
| 64,102 | 78,785 | |
| Charitable activities-permanent endowment funds | ||
| Portfolio management charges | 2,110 | 2,158 |
| Governance costs | ||
| Accountancy | 1,250 | 1,275 |
| 1,250 | 1,275 | |
| The above costs represent expenses directly allocated to charitable activities. | ||
| Includes:- | ||
| Depreciation | 9,784 | 9,341 |
| STAFF COSTS | ||
| Wages and salaries | 31,010 | 28,921 |
| National Insurance | 2,605 | 2,285 |
| Pension | 681 | 651 |
| 34,296 | 31,857 |
The Charity employed the equivalent of 1 and 1/3 members of staff. None earned more than £60,000 P.A.
| TANGIBLE FIXED ASSETS | Freehold | Refurbish- | ||
|---|---|---|---|---|
| land | ment | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2024 | 11,135 | 433,051 | 66,789 | 510,975 |
| Additions | - | 26,746 | - | 26,746 |
| At 31 March 2025 | 11,135 | 459,797 | 66,789 | 537,721 |
| Depreciation | ||||
| At 1 April 2024 | - | 206,521 | 60,675 | 267,196 |
| Charge for the year | - | 6,320 | 464 | 6,784 |
| At 31 March 2025 | - | 212,841 | 61,139 | 273,980 |
| Net Book Value | ||||
| At 31 March 2025 | 11,135 | 246,956 | 5,650 | 263,741 |
| At31March2024 | 11,135 | 226,530 | 6,114 | 243,779 |
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HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
| 7. | INVESTMENTS | 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||
| At Valuation | 160,418 | 165,616 | |||||||
| Book | Market | Book | Market | ||||||
| value | value | value | value | ||||||
| 2025 | 2025 | 2024 | 2024 | ||||||
| £ | £ | £ | £ | ||||||
| Shares and other investments | 149,012 | 160,418 | 158,678 | 165,616 | |||||
| 2025 | 2024 | ||||||||
| 8. | DEBTORS | £ | £ | ||||||
| Prepayments and accrued income | - | - | |||||||
| VAT debtor | 14,458 | 19,048 | |||||||
| Tax debtor | 873 | 873 | |||||||
| 15,331 | 19,921 | ||||||||
| 9. | BANK BALANCES | ||||||||
| Current account | 23,592 | 15,397 | |||||||
| Capital reserve account | 93,664 | 137,975 | |||||||
| 117,256 | 153,372 | ||||||||
| 10. | CREDITORS: amounts falling due within one year | ||||||||
| Accruals and deferred income | 40,960 | 41,650 | |||||||
| 11. | FUNDBALANCES Fund balances at 31 March 2025 are |
General Funds £ |
Endowment Funds £ |
Total £ |
|||||
| represented by:- | |||||||||
| Tangible fixed assets | 263,741 | - | 263,741 | ||||||
| Investments | - | 165,616 | 165,616 | ||||||
| Current assets | (within 12 months) | 16,050 | 90,283 | 106,333 | |||||
| Current assets | (over 12 months) | - | 227,531 | 227,531 | |||||
| Current liabilities | ( | 95,614 | ) | - | ( | 95,614 | ) | ||
| Long term liabilities | ( | 151,821 | ) | - | ( | 151,821 | ) | ||
| 32,356 | 483,430 | 515,786 |
Permanent Endowment Funds
Consists of the surplus arising on the sale of land in 1998.
Current assets over 12 months represent the amounts due under the Charity Commission orders for improvements to fixed assets. The long term liability represents the amounts that general funds need to finance the Charity Commission Orders.
CONTINGENT LIABILITIES
The Coal Industry Social Welfare Organisation (CISWO), a Registered Charity, holds a covenant to receive 50% of any surplus realised on the sale of the Centre's land.
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- RELATED PARTY DISCLOSURES
HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
.
Hamstead Social Club Limited is a company limited by guarantee whose directors, P. Corry, B. Cresswell and T.Hannon were also trustees of Hamstead Social Welfare Centre in the year under review. During the year the charity entered into the following transactions with the company: (a) donation paid by the company under gift aid £nil (2024: £ nil); (b) license paid by the company for use of the premises £1,200 (2024: £ 1,200); (c) joint expenses incurred by the charity and reimbursed by the company £37,002 (2024: £16,898): joint expenses incurred by the company and reimbursed by the charity £48,998 (2024 £33,564).
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HAMSTEAD SOCIAL WELFARE CENTRE TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
: select suitable accounting policies and then apply them consistently; ; make judgements and estimates that are reasonable and prudent; : state whether applicable accounting standards and statements of recommended practice have been
followed, subject to any departures disclosed and explained in the financial statements; and; . 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 responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on
and signed on their behalf by:
Chairman
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HAMSTEAD SOCIAL WELFARE CENTRE DETAILED INCOME AND EXPENDITURE STATEMENT YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| INCOME | £ | £ |
| Incoming resources from | ||
| generatedfunds | ||
| Raffle | 2,294 | 1,403 |
| Occupational license | 1,200 | 1,200 |
| 3,494 | 2,603 | |
| Investment income | ||
| Gift aid | - | 10,246 |
| Endowment portfolio income | 3,606 | 2,620 |
| Bank interest received | 1,304 | 2,064 |
| Inpost rental income | 800 | 800 |
| 5,710 | 15,730 | |
| Incoming resources | ||
| from charitable activities | ||
| Room hire and entertainment | 27,151 | 23,517 |
| Sundry income | . | a |
| Line dancing | = | 6 |
| 27,151 | 23,517 | |
| TOTALINCOME | 36,355 | 41,850 |
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HAMSTEAD SOCIAL WELFARE CENTRE DETAILED INCOME AND EXPENDITURE STATEMENT YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| PREMISES COSTS | ||
| Rates | 358 | 359 |
| Water rates | 2,478 | 3,440 |
| Insurance | 2,718 | 2,691 |
| Light and heat | 7,687 | 7,504 |
| Equipment leasing | 3,428 | 1,550 |
| Depreciation -endowment fixed assets | 9,320 | 8,661 |
| Depreciation of Equipment | 464 | 680 |
| 26,453 | 24,885 | |
| FINANCE COSTS | ||
| Bank charges | - | - |
| SUNDRY COSTS | ||
| Printing, stationery and advertising | 165 | 445 |
| General expenses | - | - |
| 165 | 445 | |
| GOVERNANCE COSTS | ||
| Accountancy | 1,250 | 1,275 |
| 1,250 | 1,275 | |
| Wages and salaries | 34,296 | 31,857 |
| Repairs maintenance and gardening | 3,188 | 21,598 |
| Portfolio management charges | 2,109 | 2,158 |
| TOTALEXPENSES | 67,461 | 82,218 |
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