i
Charity registration number: 701170
Coldwell Inn Project
Annual Report and Financial Statements for the Year Ended 31 March 2025
KM Chartered Accountants Ist Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
)
Coldwell Inn Project
Contents
Reference and Administrative Details i Trustees’ Report 2 to 4 Independent Examiner's Report 5 Statement of Financial Activities . 6 Balance Sheet 7 Notes to the Financial Statements 8 to 14
Coldwell Inn Project
Reference and Administrative Details
| Trustees | MrR G Glover | |
|---|---|---|
| MsL Holgate | ||
| MrFGParrJP | ||
| MrG Salthouse | ||
| CharityRegistration | Number | 701170 |
| Principal Office | Coldwell Activity Centre | |
| BackLane | ||
| Southfield | ||
| Burnley | ||
| Lancashire | ||
| BB10 3RD | ||
| Independent Examiner | KM | |
| Chartered Accountants | ||
| 1stFloor, BlockC | ||
| The Wharf | ||
| ManchesterRoad | ||
| Burley | ||
| Lancashire | ||
| BBI11 1JG | ||
| Bankers | Unity TrustBankple | |
| 4 Oozells Square | ||
| Birmingham | ||
| B1 2HB | ||
| BarclaysBankple | ||
| 72/78 StJames Street | ||
| Burnley | ||
| Lancashire | ||
| BB111NH |
Page 1
Coldwell Inu Project
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2025.
Trustees
Mr N Beecham JP (ceased 24 March 2025)
Mr B Cooper (ceased 10 June 2025)
Mr R G Glover
Ms L Holgate (appointed 9 April 2024)
Mr F G Parr JP Mr J Ormerod (ceased 3 July 2025)
Mr G Salthouse
Objectives and activities
Objects and aims
The charity's objects (‘Objects’) are specifically restricted to the following:
(1) To relieve the needs of young people (primarily those aged between 11 and 25) by:
(a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; and
(b) The provision of support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals ;
(2) To relieve the needs of persons of any age with learning difficulties and/or physical disabilities in such manner as may be charitable and in particular (but not so as to limit the generality of the foregoing) through the provision of training facilities and other opportunities which will equip people to lead a full and satisfying life.
Activities
The principal activities of the charity continue to be those of the provision of facilities for recreation or other leisure time occupation and education of those persons, particularly the disabled and those with special needs, who have need of such facilities as aforesaid by reason of their youth, age, infirmity or disablement, improving their quality of life.
The charity continues to lease land and buildings owned by United Utilities in the Southfield area of Burnley in East Lancashire and used as a residential centre for various user groups. Different activities are offered to groups on residential stays such as team building, orienteering, walking and bushcraft.
Some of our surpluses go towards providing free nights for disadvantaged groups.
Coldwell Activity Centre works with professional and insured instructors from around the North West. All our activities are risk assessed.
Bookings are already made by groups well into 2026. We continue to support groups out of our commercial arm Coldwell Park Ltd.
The Trustees wish to express their sincere thanks to our staff team who provide an excellent service all year round and also consistently go the extra mile to ensure customer satisfaction.
Page 2
Coldwell Inn Project
Trustees' Report (continued)
Public benefit
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.
Financial review
The charity's sources of income are from usage of the centre by groups plus a donation from the subsidiary company, Coldwell Park Ltd generated from non-charitable groups and families using the centre.
Grant funding is obtained only for capital costs.
Policy on reserves
The trustees have established the level of reserves (that is those funds that are freely available) that the Charity should have is £50,000, This provides working capital and closedown costs.
Unrestricted funds, not invested in fixed assets, are currently £80,845, plus the reserves held by the subsidiary company of £7,935. The excess over the £50,000 is held for investment in the centre.
Structure, governance and management
Nature of governing document
The organisation was a charitable company limited by guarantee, and converted to a Foundation Charitiable Incorporated Organisation on the 19 September 2019.
Recruitment and appointment of trustees
All existing trustees are invited to nominate new trustees as the need arises. When considering co-opting Trustees, the Board has regard to the requirement for any specialist skills needed.
Three trustees, Neil Beecham, Brian Cooper and John Ormerod all retired as trustees during 2025 and we place on record our thanks for their service to the charity.
Induction and training of trustees
New Trustees undergo an orientation period to brief them on their legal obligations under Charity law, the committee and decision making processes, the business plan and recent financial performance of the Charity. During the induction period they meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Organisational structure
The Board of Trustees administers the Charity and meets regularly with sub-committees as needed. The opportunity was taken during the pandemic to hold online meetings.
Page 3
Coldwell Inn Project
Trustees' Report (continued)
Major risks and management of those risks for small charities
The Trustees have a risk management strategy which comprises:
An annual review of the risks the Charity may face.
The establishment of systems and procedures to mitigate those risks identified in the plan.
The implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise.
Regular reporting of risk status.
Financial viability is essential if Coldwell is to develop and insufficient income generation is a significant risk.
The Trustees have approved an income strategy to address this risk over the next three years and beyond.
The annual report was approved by the trustees of the charity on 9 December 2025 and signed on its behalf by:
Mr G Salthduse Trustee
Page 4
Coldwell Inn Project
Independent Examiner's Report to the trustees of Coldwell Inn Project
I report to the trustees on my examination of the accounts of Coldwell Inn Project for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of Coldwell Inn Project 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 Coldwell Inn Project's accounts carried out under section 145 of the 2011 Act and in 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:
-
accounting records were not kept in respect of Coldwell Inn Project as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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 accounts to be reached.
Mark Heaton FCCA FCIE DChA KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
9 December 2025
Page 5
.
Coldwell Inn Project
Statement of Financial Activities for the Year Ended 31 March 2025
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Total|Total|
|Unrestricted|Restricted|2025|Unrestricted|Restricted|2024|
|Note|£|£|£|£|£|£|
|Income|from:|
|Donations|2|73,000|-|73,000|78,018|-|78,018|
|Charitable|activities|3|52,325|-|52,325|77,755|-|77,755|
|Investment|income|4|1,916|-|1,916|409|-|409|
|Total income|127,241|-|127,241|156,182|-|156,182|
|Expenditure|on:|
|Charitable|activities|(127,810)|-|(127,810)|(138,150)|-|(138,150)|
|Depreciation|(3,856)|(17,562)|(21,418)|(3,848)|(17,562)|(21,410)|
|Total expenditure|(131,666)|(17,562)|(149,228)|(141,998)|(17,562)|(159,560)|
|Net movement|in funds|(4,425)|(17,562)|(21,987)|14,184|(17,562)|(3,378)|
|Reconciliation|of funds|
|Total funds|brought forward|106,930|210,757|317,687|92,746|228,319|321,065|
|Total|funds|carried forward|18|102,505|193,195|295,700|106,930|210,757|317,687|
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The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Coldwell Inn Project
(Registration number: 701170) Balance Sheet as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 10 | 212,855 | 234,272 |
| Investments | 11 | 2,000 | 2,000 |
| 214,855 | 236,272 | ||
| Current assets | |||
| Debtors | 14 | 41,308 | 48,826 |
| Cash atbank and inhand | 77,281 | 73,488 | |
| 118,589 | 122,314 | ||
| Creditors: Amounts falling due within oneyear | 15 | (35,659) | (31,918) |
| Netcurrent assets | 82,930 | 90,396 | |
| Total assets less current liabilities | 297,785 | 326,668 | |
| Creditors: Amounts fallingdue aftermorethan oneyear | 16 | (2,085) | (8,981) |
| Net assets | 295,700 | 317,687 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restrictedfunds | 193,195 | 210,757 | |
| Unrestricted income funds | |||
| Unrestrictedfunds | 102,505 | 106,930 | |
| Totalfunds | 18 | 295,700 | 317,687 |
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 9 December 2025 and signed on their behalf by:
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&he
Mr G Salthouse
Trustee
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The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Coldwell Inn Project meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
Income
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
-
The donor specifies that the grant or donation must only be used in future accounting periods; or
-
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Long leasehold Fixtures and fittings Equipment
Depreciation method and rate 2% per annum on cost 25% per annum on cost 20% reducing balance
Pensions and other post retirement obligations
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 8
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
2 Income from donations
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|||||||
|---|---|---|---|---|---|
|Unrestricted|
|funds|Total|Total|
|General|2025|2024|
|£&|£|£|
|Donations|from|subsidiary|73,000|73,000|78,000|
|Other|donations|-|-|18|
|73,000|73,000|78,018|
|Income|from|charitable|activities|
|Unrestricted|
|funds|Total|Total|
|General|2025|2024|
|£|£|£|
|User group|fees|47,568|47,568|73,519|
|Employment|allowance|4,757|4,757|4,236|
|52,325|52,325|77,755|
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3 Income from charitable activities
4 Investment income
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||||||
|---|---|---|---|---|
|Unrestricted|
|funds|Total|Total|
|General|2025|2024|
|£|£|£|
|Bank|interest receivable|1,916|1,916|409|
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5 Expenditure on charitable activities
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|
|funds|Total|Total|
|General|2025|2024|
|Note|£|£|£|
|Centre|and|activity|expenditure|43,914|43,914|59,819|
|Staff costs|8|80,688|80,688|75,759|
|Allocated|support costs|3,208|3,208|2,572|
|127,810|127,810|138,150|
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Page 9
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
6 Net incoming/outgoing resources
Net outgoing resources for the year include:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation | -owned assets | 21,418 | 21,410 |
| Independent | examiner | 3,208 | 2,572 |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs werewere as follows: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Staffcosts during theyearwere: | ||
| Wages and salaries | 73,707 | 69,434 |
| Social security costs | 4,757 | 4,236 |
| Pension costs | 2,224 | 2,089 |
| 80,688 | 75,759 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
Centre
| 2025 | 2024 |
|---|---|
| No | No |
| er |
No employee received emoluments of more than £60,000 during the year.
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 10
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
10 Tangible fixed assets
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|||||||
|---|---|---|---|---|---|
|Fixtures|and|
|Long leasehold|fittings|Total|
|£|£|£|
|Cost|
|At|1|April 2024|707,171|112,253|819,424|
|At 31|March 2025|707,171|112,253|819,424|
|Depreciation|
|At|1|April 2024|474,966|110,186|585,152|
|Charge|for the year|19,350|2,067|21,417|
|At 31|March 2025|494,316|112,253|606,569|
|Net|book|value|
|At|31|March 2025|212,855|-|212,855|
|At 31|March 2024|232,205|2,067|234,272|
|11|Fixed|asset|investments|
|2025|2024|
|£|£|
|Shares|in group|undertakings|2,000|2,000|
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Details of undertakings
;
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
Country of Principal incorporation Holding % activity 2025 2024 Subsidiary undertakings Coldwell Park Ltd England and Wales Ordinary 100% 100% Accommodation
12 Legal charge
There is a charge against the leasehold property amounting to £300,000 due to the National Lottery Charities Board, dated 30 March 2005 for 21 years.
Page 11
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
13 Related party transactions
Coldwell Park Ltd is a wholly owned subsidiary of Coldwell Inn Project.
At the balance sheet date Coldwell Inn Project is owed £17,216 (2024: £17,216).
14 Debtors
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|||||
|---|---|---|---|
|2025|2024|
|£|£|
|Trade debtors|21,694|29,211|
|Prepayments|2,398|2,399|
|Other|debtors|17,216|17,216|
|41,308|48,826|
|15|Creditors|
|2025|2024|
|£|£|
|Bank loans|7,000|7,000|
|VAT|8,091|8,617|
|Accruals|1,191|2,781|
|Deferred income|19,377|13,520|
|35,659|31,918|
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16 Creditors: amounts falling due after one year
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Bank|loans|2,085|8,981|
|17|Leasing|agreements|
|The total|value|of|future minimum|lease payments|was|as|follows:|
|2025|2024|
|£|£|
|In over five|years|860|940|
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The operating lease is with United Utilities plc dated 11 March 2005 for a period of 31 years.
Page 12
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
| 18 Funds | ||||
|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Balance at31 | |
| April2024 | resources | expended | March2025 | |
| £ | £ | £ | £ | |
| Unrestricted | ||||
| General | ||||
| Generalfund | 81,414 | 127,241 | (127,810) | 80,845 |
| Designated | ||||
| Fixed assets (own resources) | 23,516 | - | (3,856) | 19,660 |
| Investment inSubsidiary | 2,000 | - | - | 2,000 |
| 25,516 | - | (3,856) | 21,660 | |
| Total unrestricted | 106,930 | 127,241 | (131,666) | 102,505 |
| Restricted | ||||
| Fixed assets (fundedby grants) | 210,757 | - | (17,562) | 193,195 |
| Total funds | 317,687 | 127,241 | (149,228) | 295,700 |
| Balance at 1 | Incoming | Resources | Balance at31 | |
| April2023 | resources | expended | March2024 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General | ||||
| Generalfunds | 63,382 | 156,182 | (138,150) | 81,414 |
| Designated | ||||
| Fixed assets (ownresources) | 27,364 | - | (3,848) | 23,516 |
| Investment in Subsidiary | 2,000 | - | - | 2,000 |
| 29,364 | - | (3,848) | 25,516 | |
| Totalunrestrictedfunds | 92,746 | 156,182 | (141,998) | 106,930 |
| Restricted funds | ||||
| Fixed assets (funded by grants) | 228,319 | - | (17,562) | 210,757 |
| Totalfunds | 321,065 | 156,182 | (159,560) | 317,687 |
Page 13
Coldwell Inn Project
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
19 Analysis of net assets between funds
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|||||||||
|---|---|---|---|---|---|---|---|
|Total funds|at|
|Unrestricted|funds|Restricted|31 March|
|General|Designated|funds|2025|
|£|£|£|£|
|Tangible|fixed|assets|-|19,660|193,195|212,855|
|Fixed|asset investments|-|2,000|-|2,000|
|Current|assets|118,589|-|-|118,589|
|Current|liabilities|(35,659)|-|-|(35,659)|
|Creditors|over|1|year|(2,085)|-|-|(2,085)|
|Total net assets|80,845|21,660|193,195|295,700|
|Total|funds|at|
|Unrestricted|funds|Restricted|31 March|
|General|Designated|funds|2024|
|£|£|£|£|
|Tangible|fixed|assets|-|23,515|210,757|234,272|
|Fixed|asset investments|-|2,000|-|2,000|
|Current|assets|122,313|1|-|122,314|
|Current|liabilities|(31,918)|-|-|(31,918)|
|Creditors|over|1|year|(8,981)|-|-|(8,981)|
|Total net|assets|81,414|25,516|210,757|317,687|
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Page 14