REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Newbiggin By The Sea Partnership |
(A Company Limited by Guarantee) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Newbiggin By The Sea Partnership |
(A Company Limited by Guarantee) |
Newbiggin By The Sea Partnership |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Newbiggin By The Sea Partnership (Registered number: 03740675) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and activities |
Our objects continue to be the support or promotion of any charitable purpose for the relief of poverty, the advancement or education (including training for employment or work), the advancement of religion, or any other charitable purpose for the benefit of the community of Newbiggin by the Sea in the County of Northumberland. Our policies to achieve our objects continue to be to attract grant funding for specific projects that embrace economic regeneration, the environment, skills training and community development. We refer to Charity Commission guidance on Public Benefit when reviewing our aims and objectives, and ensure that future plans remain focused on their achievement. Funding limits our activities, but no beneficiaries appropriate to our aims are excluded. Equal access to our services is important to us, and we promote local understanding of our work. |
ACHIEVEMENT AND PERFORMANCE |
Development, activites and achievements |
We are continuing to restore our activities for the personal development of young people through music and sports projects since the covid pandemic. |
FINANCIAL REVIEW |
Financial position |
Our assets continue to be adequate and available to meet our obligations. |
Reserves policy |
Free Reserves are those funds not tied up in Fixed Assets or Designated/Restricted Funds. We forecast the level of reserves required to sustain operations, should income-generating activities be curtailed. Free reserves decreased from £8,685 to £1,017 during the year. Whilst this level of reserves may prove sufficient, it is our view that it is prudent to ensure that there are sufficient free reserves to provide financial flexibility over the course of the forthcoming challenges. |
FUTURE PLANS |
We look forward to the continuation of the resumption of our previous full range of activities. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The company was incorporated on 24th March 1999, and is governed by its Memorandum and Articles of Association. |
Recruitment and appointment of new trustees |
The Directors/Trustees seek to ensure that the users needs are reflected through the diversity of the Board. To enhance the pool of potential Directors/Trustees, selected individuals who may wish to become Directors/Trustees are approached as necessary. Directors/Trustees are re-appointed annually. All concerned give their service voluntarily and receive no benefit. |
Newbiggin By The Sea Partnership (Registered number: 03740675) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Induction and training of new trustees |
New Directors/Trustees are actively encouraged by the existing Directors/Trustees, having regard to any specialist skills required. New Directors/Trustees are briefed on their legal obligations under charity and company law, our Memorandum and Articles of Association, the Committee and the decision making process, future plans and recent performance. They are encouraged to attend appropriate training, and made aware of Charity Commission publications. Feedback is encouraged. |
Risk management |
We have assessed (and reviewed regularly) the risks to which we are exposed, in particular those related to our operations and finances, and are satisfied that systems are in place to mitigate our exposure. No major risks have been identified. A key element in our management of financial risk is the setting and regular review of our Reserves Policy. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
AWS Accountancy Limited |
3 Berrymoor Court |
Northumberland Business Park |
Cramlington |
Northumberland |
NE23 7RZ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Newbiggin By The Sea Partnership |
Independent examiner's report to the trustees of Newbiggin By The Sea Partnership ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Mr I W Cooney |
AWS Accountancy Limited |
3 Berrymoor Court |
Northumberland Business Park |
Cramlington |
Northumberland |
NE23 7RZ |
23 May 2023 |
Newbiggin By The Sea Partnership |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted |
fund | Total funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 5,711 | 10,500 |
EXPENDITURE ON |
Charitable activities |
13,379 | 3,846 |
NET INCOME/(EXPENDITURE) | (7,668 | ) | 6,654 |
RECONCILIATION OF FUNDS |
Total funds brought forward | 8,685 | 2,031 |
TOTAL FUNDS CARRIED FORWARD | 1,017 | 8,685 |
Newbiggin By The Sea Partnership (Registered number: 03740675) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted |
fund | Total funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank | 1,407 | 9,325 |
CREDITORS |
Amounts falling due within one year | 4 | (390 | ) | (640 | ) |
NET CURRENT ASSETS | 1,017 | 8,685 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,017 | 8,685 |
NET ASSETS | 1,017 | 8,685 |
FUNDS | 5 |
Unrestricted funds | 1,017 | 8,685 |
TOTAL FUNDS | 1,017 | 8,685 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Newbiggin By The Sea Partnership (Registered number: 03740675) |
Balance Sheet - continued |
31 March 2023 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Newbiggin By The Sea Partnership |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is included in the Statement of Financial Activities when we are entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: |
- Income from our activities is recognised on an accruals basis |
- Income received by way of grants and donations are included in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by ourselves, are recognised when we become unconditionally entitled to the grant. Grants related to performance and specific deliverables are accounted for as we earn the right to consideration by our performance. |
- Investment income is included when receivable |
- The value od services provided by volunteers has not been included in these accounts |
Expenditure |
Expenditure is recognised on an accruals basis, including VAT. It comprises those costs incurred in the delivery of our activities and services. It includes both costs that can be allocated to such activities and those costs of an indirect nature necessary to support them. |
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. |
Newbiggin By The Sea Partnership |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 10,500 |
EXPENDITURE ON |
Charitable activities |
3,846 |
NET INCOME | 6,654 |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2,031 |
TOTAL FUNDS CARRIED FORWARD | 8,685 |
Newbiggin By The Sea Partnership |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Accrued expenses |
5. | MOVEMENT IN FUNDS |
Net |
movement |
At 1.4.22 | in funds | At 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,685 | (7,668 | ) | 1,017 |
TOTAL FUNDS | 8,685 | (7,668 | ) | 1,017 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 5,711 | (13,379 | ) | (7,668 | ) |
TOTAL FUNDS | 5,711 | (13,379 | ) | (7,668 | ) |
Comparatives for movement in funds |
Net |
movement |
At 1.4.21 | in funds | At 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,031 | 6,654 | 8,685 |
TOTAL FUNDS | 2,031 | 6,654 | 8,685 |
Newbiggin By The Sea Partnership |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 10,500 | (3,846 | ) | 6,654 |
TOTAL FUNDS | 10,500 | (3,846 | ) | 6,654 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement |
At 1.4.21 | in funds | At 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,031 | (1,014 | ) | 1,017 |
TOTAL FUNDS | 2,031 | (1,014 | ) | 1,017 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,211 | (17,225 | ) | (1,014 | ) |
TOTAL FUNDS | 16,211 | (17,225 | ) | (1,014 | ) |
Newbiggin By The Sea Partnership |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | RELATED PARTY DISCLOSURES |