REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE GLENDALE GATEWAY TRUST |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE GLENDALE GATEWAY TRUST |
THE GLENDALE GATEWAY TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Chairman's Report | 1 |
Report of the Trustees | 2 | to | 7 |
Independent Examiner's Report | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Notes to the Financial Statements | 12 | to | 25 |
THE GLENDALE GATEWAY TRUST |
CHAIRMAN'S REPORT |
FOR THE YEAR ENDED 31 MARCH 2024 |
Firstly, I would like to extend thanks to the staff and Trustees for all their hard work and commitment during the past year. I would also like to thank Rachel Sinton, who has retired, for her work over her employment at the Trust. |
Over the past 12 months the Glendale Gateway Trust has demonstrated its commitment to the wider Glendale, pushing to the fore the issues that rural communities face and ensuring that they are heard. Growth in the numbers and range of engagement with families and communities within the Glendale continues to increase. The Cheviot Centre remains the 'go to' place for support and information and is the 'listening ear' for a variety of needs and ideas. |
The portfolio of residential and commercial properties has seen a comprehensive range of upgrading in line with survey reports, regulations and tenants' feedback, ensuring that tenants needs and the obligations of a socially responsible landlord are met. |
The Trust remains in a strong financial position, as reported in this document, and thanks should be noted to staff and Trustees for their diligence in taking up financial support and careful management. |
The past year has seen significant grant funding secured by the CEO which has fostered exciting partnerships and opportunities for comprehensive support and development of services and activities throughout the Glendale. With new staff members on board and the enthusiasm of the team it is anticipated that the success of the Trust will continue from strength to strength. |
Sadly we lost Simon Crosthwaite after a short illness. His contribution to the Trust was invaluable and he will be much missed by colleagues, Trustees and tenants. |
Becci Murray |
Chair - Glendale Gateway Trust |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
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 2024. 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 |
The Trust was established to benefit the community of Glendale, in particular through: |
Education, in both historical and architectural heritage, and the natural environment. |
The provision of facilities for recreation and leisure time occupation. |
The improvement of infrastructure and in particular road services in order to improve road safety. The provision of affordable housing. |
Co-operation with other persons or organisations with similar aims. |
Under the umbrella of education are listed: |
- information about and access to buildings of particular architectural or historical interest, and all aspects of the natural environment. |
- assistance for persons to gain employment and schemes where such persons may receive training while in employment. |
Within the "Objects" are also listed: |
The maintenance and management of a multi-purpose community centre. |
Direct provision of affordable housing accommodation and, |
the provision of youth hostels or other accommodation to promote health, recreation and education. |
Summary of the main activities |
The Cheviot Centre: This is the Trust's multi-purpose community centre. |
Housing: We now have and let out three houses and seventeen flats. |
Food Bank: Operating the Wooler and Glendale food bank. |
Other Activities include: |
The annual Glendale Festival, and Farmers Markets, |
The funding of a Glendale Middle School educational outing/event and, |
The letting of properties to local businesses as well as to Hospice Care North Northumberland and to the Wooler Drop-in Centre. |
Charity Commission public benefit guidance |
We are required to state that we have paid due regard to the Charity Commission's public benefit guidance. We have done this by our reporting above and below on our charity's purposes, activities and achievements. |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
The continuation of strategic partnership working and community engagement by the CEO during this financial year has led to significant investment in The Glendale Gateway Trust through grants for specific projects. As an example, in December 2023, the CEO secured funding from the Community Lottery Fund in partnership with two other voluntary organizations, for almost £500k over the next 5 years to deliver a project around employability in our rural area. |
Cheviot Centre |
The Cheviot Centre continues to be a hive of activity on a weekly basis with people of all ages attending various groups. All offices and Pods are fully let, and the success of the Cheviot Centre Open Day in November provided the ideal opportunity for people who work in the Centre to meet each other and share their ideas and explain their businesses. We intend to repeat this event in the Autumn. The installation of an automatic main entrance door has made access easier for our older visitors and for the increasing number of parents and carers visiting with buggies and wheelchairs. A schedule of refurbishments in the Cheviot Centre began with 2 new carpets. Further repairs are required around the building, and these will be carried out over the next 12 months. |
Housing |
GGT continues to invest significantly in the maintenance and repairs of all our properties by following a detailed maintenance schedule and carrying out significant repairs that were identified by an impartial qualified building surveyor. These have included the replacement of several roofs along the High Street above some of our commercial properties, the replacement of rotten and leaking windows at 33 High Street, 3 new doors in our properties at the rear of the High Street and significant roof and dormer window repairs at the Wheatsheaf. |
We continue to work on a raft of recommendations made by an independent fire safety assessor, regarding fire safety risk assessment and we are currently upgrading all our communal areas including the Cheviot Centre and providing additional signage and notice boards containing all appropriate information. |
Food Bank |
Food bank requests and referrals have continued to steadily increase, and the service is very well used. We keep the food cupboard well stocked, and donations are plentiful overall. We now have food bank donation points at the Cheviot Centre, Co-op, Budgens and Lowick village store and potentially the Riverside Caravan Park. The Share Shed continues to be well used and fresh produce, toys and books etc are placed in there by the community for the community. |
Funded Projects |
The Rural Advocate |
Northumberland County Council funded this role for an initial period of 12 months which commenced in September 2023. Lesley Robson was recruited to the role and made an immediate difference to the rural community helping to alleviate feelings of disconnection as many people feel isolated from the services and people at NCC and other statutory organisations. She was able to react quickly to issues that occurred and provide information to communities and NCC and act as a conduit for information both ways. The role has ensured that people who are most in need of help and support understand how they can access services and keep safe and well recognising that people living in isolation are often in the greatest need, but they remain silent and underserved. Funding has now been secured for another year from September 2024. |
Employability Project |
A 5-year project funded by the Community Lottery Fund was approved in December 2023 and commenced in May 2024. |
RITS- Rural IT Support |
Working in partnership with Bell View in Belford we were successful in receiving funding to provide weekly drop-in sessions for people with any IT issues or for people wanting to learn more about IT. Sessions are held at the Cheviot Centre and Bell View on Friday each week and we have provided an outreach service in other villages halls when requested. |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Memory Lane |
Further funding was received from Bernicia Homes to keep the project going for another 12 months. This group meets fortnightly with music at the heart of the sessions to help rekindle memories and slow down cognitive decline of people living with Alzheimer's and dementia and provide respite for the people that care for them. |
Woolpak |
The CEO successfully applied for funding to help this group of parents, grandparents and their babies and young children to meet each week at the Cheviot Centre. This child friendly group provides peer support for parents/carers in a relaxed informal setting and is free to attend. Many parents can feel isolated due to living rurally, being new parents, being parents of children with special educational needs and or disabilities and many have their own mental health challenges and just need a safe and friendly space to socialise and allow their children to play. The group attracts 30-35 people each week and is run by 2 young Mums who live locally. |
Inky Fingers |
This group has been running extremely successfully for several school terms led by local artist Anthea Wood. Funding has been secured by the CEO and the free sessions allow children to take part in a wide variety of art and craft activities. Funding is also secured through HAF- Holiday Activity Fund to provide free activity sessions during the school holidays. |
Other Activities- just a few examples of projects we have undertaken |
Repair café |
We manage and run this activity in partnership with Glendale Connect. Volunteer repairers are matched up with members of the community who have an object to repair. Items repaired include clocks, lawnmowers, vacuum cleaners, music boxes and electrical items. Chairs have been reupholstered and clothes have been mended. Donations go towards room hire and refreshments. As well as reducing the number of items that are thrown away it provides social interaction for many people including the volunteer repairers. |
Clothes Share |
We have held 3 clothes share events during the last financial year to provide extra support during the cost-of-living crisis. We always have plenty of donations, so we have plenty of stock for people to browse. We also hold a jigsaw swap at the same time which is increasingly popular. |
Conclusion |
With a new team now in place the future for GGT is very bright indeed we will continue to support the community in every way we can. The current projects enhance the core work of the charity and with the continued development of partnerships other opportunities and projects will materialise in the future. |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FINANCIAL REVIEW |
The attached accounts are prepared in accordance with legal accounting requirements which in part do not make easy reading. The Trustees therefore offer a simplified summary as follows: |
Assets and Liabilities at 31 March 2024 |
£ |
Fixed Assets | 2,589,000 |
Loans to fund these fixed assets | (38,000 | ) |
Net Current Assets before loans (largely cash funds) |
Restricted funds | 148,000 |
Unrestricted funds | 180,000 |
Total funds | 2,879,000 |
The above loans are: |
Quaker Trust | 38,000 |
38,000 |
Repayments which we are committed to pay on the remaining loan in 2024/25 year total £3,500. |
Income and Expenditure for the Year to 31 March 2024 |
£ |
Income |
Cheviot Centre | 83,000 |
Residential Housing | 95,000 |
Non-residential Property | 53,000 |
Other (mainly grants) | 130,000 |
361,000 |
Expenditure |
Direct costs |
Cheviot Centre | 35,000 |
Residential Housing | 65,000 |
non-residential Property | 10,000 |
Other (including administration and wages) | 191,000 |
300,000 |
Surplus before depreciation | 61,000 |
Depreciation | 54,000 |
Net increase after depreciation provision | 6,000 |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Reserves Policy |
The trust wishes to continue to increase it's reserves in order to: |
Meet its liabilities. |
Fund the repair and rejuvenation of fixed assets. |
Modify its activities without undue haste and cost, should income unexpectedly fall. |
Take any appropriate opportunities in support of the community of Glendale. |
At the year end the general unrestricted funds of the charity were £183,654 (2023 £240,975). |
Immediate plans |
Further roof repairs are required on 3 properties along Wooler High Street and this will be carried out in the summer. |
Ongoing repairs and maintenance are required on all our residential properties with new windows required at an address on the High Street. This work is scheduled to take place in the summer. |
Various reports and feasibility studies have been carried out regarding the heating system at the Cheviot Centre which is no longer fit for purpose. A working group including some Trustees was formed to take this forward to ensure we proceed in the most cost effective and environmentally friendly way, work is expected to be completed in time for the winter. |
We are keen to acquire ground floor residential accommodation locally as many of our residents have mobility and health issues. We are actively seeking suitable properties to purchase and convert within easy reach of local services and facilities. |
The charity's principal sources of funds |
Historically the trust has received significant grant funding which has largely provided the housing and other property stock. The annual income of the trust is now mainly from housing rents, the Cheviot Centre income, the Youth Hostel and other commercial property rents. |
In the year to 31 March 2024 grants and private donations have again been a major factor. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Committee of Management |
The Trust is managed by the Committee of Management. The maximum number of committee members (trustees) is 12 and the minimum is 5. The committee members are elected for a period of three years by the members of the Trust at the Annual General Meeting. Committee members will have a maximum of three terms (9 years) with an additional one year in exceptional circumstances. |
There are provisions within the Articles of Association for committee members to be appointed by the committee, should the need arise. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Registered office |
Trustees |
Independent Examiner |
G O'Dea C.A. |
J.H. Greenwood & Company |
Chartered Accountants |
Ava Lodge |
Castle Terrace |
Berwick Upon Tweed |
Northumberland |
TD15 1NP |
Employed Staff who served during the course of the year |
Karen Froggatt (Chief Executive) |
Rachel Sinton (Administrator & Cheviot Centre manager) (retired March 2024) |
Susan Mitchell (Accounts officer) |
Gillian Lowes (Communications & Projects officer) |
Simon Crosthwaite (Property officer) |
Lesley Robson (Rural Advocacy & Inclusion officer) |
Shauna Goulbourne (Caretaker) |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE GLENDALE GATEWAY TRUST |
Independent examiner's report to the trustees of The Glendale Gateway Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
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 |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies. |
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. |
G O'Dea C.A. |
The Institute of Chartered Accountants of Scotland |
J.H. Greenwood & Company |
Chartered Accountants |
Ava Lodge |
Castle Terrace |
Berwick Upon Tweed |
Northumberland |
TD15 1NP |
16 September 2024 |
THE GLENDALE GATEWAY TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
31/3/24 | 31/3/23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
Transfers between funds | 13 | (52,233 | ) | 52,233 | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 240,975 | 2,631,053 | 2,872,028 | 2,859,233 |
TOTAL FUNDS CARRIED FORWARD | 183,655 | 2,694,689 | 2,878,344 | 2,872,028 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
BALANCE SHEET |
31 MARCH 2024 |
31/3/24 | 31/3/23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( | ) | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( | ) | ( | ) | ( | ) |
NET ASSETS | 183,654 | 2,694,690 | 2,878,344 | 2,872,028 |
FUNDS | 13 |
Unrestricted funds | 183,654 | 240,975 |
Restricted funds | 2,694,690 | 2,631,053 |
TOTAL FUNDS | 2,878,344 | 2,872,028 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
THE GLENDALE GATEWAY TRUST (REGISTERED NUMBER: 03208721) |
BALANCE SHEET - continued |
31 MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
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. |
The charity registered as a Social Housing Provider. The financial statements should therefore also be prepared in accordance with the provisions of the Statement of Recommended Practice for Social Housing Providers 2018 and with the Accounting Direction for private registered providers of social housing m England 2019. |
In the year to 31 March 2020 and during the years to 31 March 2015, grants were received to assist with the development of social housing units. The Trustees have chosen to continue to prepare the financial statements using the accounting conventions applicable to charities and these grants are and were included in incoming resources within the Statement of Financial Activities. Under the accounting conventions applicable to Registered Social Housing Providers such grants should be amortised over the useful lives of the housing properties with the unamortised amount being held within creditors as deferred grant income. |
Next year the accounting convention with respect to the reporting of social housing transactions will be reviewed again, including a review of the status and treatment of existing housing properties. It is estimated that if grants received on existing housing units were to be re-stated in accordance with the Registered Social Housing Providers accounting conventions, amortisation would be £20,000 per annum and the net assets at 31 March 2023 would be reduced by £851,000. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Pension costs and other post-retirement benefits |
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. |
2. | INVESTMENT INCOME |
31/3/24 | 31/3/23 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31/3/24 | 31/3/23 |
£ | £ |
Independent examiner's remuneration for examining accounts | 1,000 | 1,000 |
Accountancy fees | - | 2,200 |
Depreciation - owned assets |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31/3/24 | 31/3/23 |
Management | 2 | 2 |
Administration | 5 | 3 |
In addition to salaries and social security there were other employee costs of £826 (2023: £838). |
The total of key management personnel remuneration in the year was £40,600. |
6. | SOCIAL HOUSING LETTINGS |
The Glendale Gateway Trust is a registered social housing provider. During the year rents received from social residential properties was £95,227 (2023 £93,084) and costs, amounted to £65,050 (2023 £41,787). |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | TANGIBLE FIXED ASSETS |
Freehold | Long | Plant and |
property | leasehold | machinery | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The leasehold property is five flats above the Co-op in the Wheatsheaf building at the end of Wooler High Street. |
The freehold property includes: |
The Cheviot Centre |
The Wooler Youth Hostel |
Fifteen residential properties (under three of these are two spaces let as a bakery and a café). |
The Mechanics Institute Building used by the Drop-in Centre. |
Premises used by Hospice Care North Northumberland (also under two residential flats). |
The trustees consider that it would not be practicable to analyse accurately the carrying value of freehold property between properties let as social housing and other property. The carrying values of freehold property shown above may be different from the market values of these properties. The trustees do not consider that it would be worthwhile to obtain professional valuations in order to quantify these differences. Consideration continues to be given as to whether provisions for impairment are required. |
8. | STOCKS |
31/3/24 | 31/3/23 |
£ | £ |
Stocks |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other debtors |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans and overdrafts (see note 12) |
Other loans (see note 12) |
Trade creditors |
VAT | - | 617 |
Other creditors |
Accrued expenses |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans (see note 12) |
Other loans (see note 12) | 38,500 |
12. | LOANS |
An analysis of the maturity of loans is given below: |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due within one year on demand: |
Unity Trust loan | - | 2,450 |
Quaker Housing Trust loan | 3,500 | 3,500 |
Amounts falling between one and two years: |
Unity Trust loan | - | 2,900 |
Quaker Housing Trust loan | 3,500 | 3,500 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | LOANS - continued |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due between two and five years: |
Unity Trust loan | - | 10,400 |
Quaker Housing Trust loan | 10,500 | 10,500 |
Amounts falling due in more than five years: |
Repayable by instalments: |
Unity Trust loan | - | 32,863 |
Quaker Housing Trust loan | 21,000 | 24,500 |
21,000 | 57,363 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 211,975 | (5,088 | ) | (52,233 | ) | 154,654 |
Designated Housing Maint Fund | 14,000 | - | - | 14,000 |
Designated Youth Hostel Maint Fund | 15,000 | - | - | 15,000 |
240,975 | (5,088 | ) | (52,233 | ) | 183,654 |
Restricted funds |
Cheviot Centre | 308,433 | (6,597 | ) | - | 301,836 |
Cheviot Centre - Foyer | 17,602 | (352 | ) | - | 17,250 |
Cheviot Centre - Library Extension | 34,881 | (697 | ) | - | 34,184 |
Cheviot Centre - Sensory Garden | 4,402 | (104 | ) | - | 4,298 |
Cheviot Centre - Library Fitting Out | 44,353 | (887 | ) | - | 43,466 |
Cheviot Centre - Pre-developement Costs | 11,697 | (234 | ) | - | 11,463 |
Cheviot Centre Performance Room | 31,649 | (633 | ) | - | 31,016 |
Cheviot Centre - Pods and Offices | 146,368 | (2,928 | ) | - | 143,440 |
Remote Learning Hub | 2,667 | (400 | ) | - | 2,267 |
Mechanics Institute | 153 | (3 | ) | - | 150 |
Town Centre Regeneration | 257,136 | (5,143 | ) | - | 251,993 |
Youth Hostel | 278,887 | (5,876 | ) | - | 273,011 |
31 High Street | 340,322 | (6,807 | ) | - | 333,515 |
Old Library | 160,179 | (3,203 | ) | - | 156,976 |
12a Church Street | 33,329 | (667 | ) | - | 32,662 |
Roddam Dene House | 368,929 | (7,379 | ) | - | 361,550 |
Communal Garden at Roddem Dene House | 1,834 | (37 | ) | - | 1,797 |
Former Barclays Bank | 308,125 | (6,162 | ) | - | 301,963 |
Wheatsheaf | 197,762 | (5,768 | ) | 52,113 | 244,107 |
Robson Patterson Ancrum Endowment Cap | 25,638 | - | - | 25,638 |
Glendale Festival | 6,954 | (1,190 | ) | (2,764 | ) | 3,000 |
Natural Burial | 1,003 | (1,003 | ) | - | - |
Glendale Festival Farmers Markets | 6,621 | 962 | - | 7,583 |
Food Bank | 15,331 | (1,197 | ) | - | 14,134 |
Reconnecting the Wooler Water | 365 | 32,952 | - | 33,317 |
Garden Activities with Children | 1,021 | 1,687 | - | 2,708 |
Marjorie Stephenson Small Grants | 6,448 | (515 | ) | 2,106 | 8,039 |
Provide log bank | - | 3,000 | - | 3,000 |
Memory Lane Dementia Care | 8,979 | (276 | ) | - | 8,703 |
Glendale Nourish & Share Shed | 3,498 | (1,540 | ) | - | 1,958 |
Warm Space | 5,626 | (5,626 | ) | - | - |
Fuel for Shopping Trips | 524 | (78 | ) | - | 446 |
Carham Defibrillator | 457 | 3,962 | - | 4,419 |
New Heating System - Cheviot Centre | (120 | ) | - | 120 | - |
Dark Skies | - | (658 | ) | 658 | - |
Dr Chris Dalglish donation | - | 985 | - | 985 |
Emergency Hub | - | 20,000 | - | 20,000 |
Kyloe Food Bank | - | 1,000 | - | 1,000 |
Rural Advocate Role | - | 12,816 | - | 12,816 |
2,631,053 | 11,404 | 52,233 | 2,694,690 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
TOTAL FUNDS | 2,872,028 | 6,316 | - | 2,878,344 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 242,681 | (247,769 | ) | (5,088 | ) |
Restricted funds |
Cheviot Centre | - | (6,597 | ) | (6,597 | ) |
Cheviot Centre - Foyer | - | (352 | ) | (352 | ) |
Cheviot Centre - Library Extension | - | (697 | ) | (697 | ) |
Cheviot Centre - Sensory Garden | - | (104 | ) | (104 | ) |
Cheviot Centre - Library Fitting Out | - | (887 | ) | (887 | ) |
Cheviot Centre - Pre-developement Costs | - | (234 | ) | (234 | ) |
Cheviot Centre Performance Room | - | (633 | ) | (633 | ) |
Cheviot Centre - Pods and Offices | - | (2,928 | ) | (2,928 | ) |
Remote Learning Hub | - | (400 | ) | (400 | ) |
Mechanics Institute | - | (3 | ) | (3 | ) |
Town Centre Regeneration | - | (5,143 | ) | (5,143 | ) |
Youth Hostel | - | (5,876 | ) | (5,876 | ) |
31 High Street | - | (6,807 | ) | (6,807 | ) |
Old Library | - | (3,203 | ) | (3,203 | ) |
12a Church Street | - | (667 | ) | (667 | ) |
Roddam Dene House | - | (7,379 | ) | (7,379 | ) |
Communal Garden at Roddem Dene House | - | (37 | ) | (37 | ) |
Former Barclays Bank | - | (6,162 | ) | (6,162 | ) |
Wheatsheaf | - | (5,768 | ) | (5,768 | ) |
Glendale Festival | - | (1,190 | ) | (1,190 | ) |
Natural Burial | 25 | (1,028 | ) | (1,003 | ) |
Glendale Festival Farmers Markets | 2,929 | (1,967 | ) | 962 |
Food Bank | 7,447 | (8,644 | ) | (1,197 | ) |
Reconnecting the Wooler Water | 32,952 | - | 32,952 |
Garden Activities with Children | 5,756 | (4,069 | ) | 1,687 |
Marjorie Stephenson Small Grants | 250 | (765 | ) | (515 | ) |
Provide log bank | 5,250 | (2,250 | ) | 3,000 |
Memory Lane Dementia Care | 9,353 | (9,629 | ) | (276 | ) |
Glendale Nourish & Share Shed | - | (1,540 | ) | (1,540 | ) |
Warm Space | - | (5,626 | ) | (5,626 | ) |
Fuel for Shopping Trips | - | (78 | ) | (78 | ) |
Carham Defibrillator | 3,962 | - | 3,962 |
Dark Skies | - | (658 | ) | (658 | ) |
Dr Chris Dalglish donation | 985 | - | 985 |
Emergency Hub | 20,000 | - | 20,000 |
Kyloe Food Bank | 1,000 | - | 1,000 |
Rural Advocate Role | 26,813 | (13,997 | ) | 12,816 |
Solar Feasibility Study | 1,386 | (1,386 | ) | - |
118,108 | (106,704 | ) | 11,404 |
TOTAL FUNDS | 360,789 | (354,473 | ) | 6,316 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 129,650 | 51,427 | 30,898 | 211,975 |
Designated Housing Maint Fund | 58,000 | - | (44,000 | ) | 14,000 |
Designated Comm Property Maint Fund | 2,000 | - | (2,000 | ) | - |
Designated Cheviot Centre Maint Fund | 20,000 | - | (20,000 | ) | - |
Designated Youth Hostel Maint Fund | 25,000 | - | (10,000 | ) | 15,000 |
234,650 | 51,427 | (45,102 | ) | 240,975 |
Restricted funds |
Cheviot Centre | 314,021 | (6,716 | ) | 1,128 | 308,433 |
Cheviot Centre - Foyer | 17,946 | (344 | ) | - | 17,602 |
Cheviot Centre - Library Extension | 35,593 | (712 | ) | - | 34,881 |
Cheviot Centre - Sensory Garden | 4,510 | (108 | ) | - | 4,402 |
Cheviot Centre - Library Fitting Out | 45,258 | (905 | ) | - | 44,353 |
Cheviot Centre - Pre-developement Costs | 11,936 | (239 | ) | - | 11,697 |
Cheviot Centre Performance Room | 32,295 | (646 | ) | - | 31,649 |
Cheviot Centre - Pods and Offices | 149,354 | (2,986 | ) | - | 146,368 |
Remote Learning Hub | 4,404 | (468 | ) | (1,269 | ) | 2,667 |
Mechanics Institute | 155 | (2 | ) | - | 153 |
Town Centre Regeneration | 262,384 | (5,248 | ) | - | 257,136 |
Youth Hostel | 284,953 | (6,066 | ) | - | 278,887 |
31 High Street | 347,265 | (6,943 | ) | - | 340,322 |
Old Library | 163,449 | (3,270 | ) | - | 160,179 |
12a Church Street | 34,009 | (680 | ) | - | 33,329 |
Roddam Dene House | 349,752 | (7,529 | ) | 26,706 | 368,929 |
Communal Garden at Roddem Dene House | 1,871 | (37 | ) | - | 1,834 |
Former Barclays Bank | 318,834 | (6,287 | ) | (4,422 | ) | 308,125 |
Wheatsheaf | 197,698 | (5,885 | ) | 5,949 | 197,762 |
Robson Patterson Ancrum Endowment Cap | 26,706 | (1,068 | ) | - | 25,638 |
Robson Patterson Ancrum Endowment Rev | 1,068 | - | (1,068 | ) | - |
Glendale Festival | 8,952 | (1,998 | ) | - | 6,954 |
Hugonin Arts | 842 | (842 | ) | - | - |
Natural Burial | - | 1,003 | - | 1,003 |
Spring Clean in Wooler | 113 | - | (113 | ) | - |
Twin Towns Project | 861 | (861 | ) | - | - |
Glendale Festival Farmers Markets | 5,195 | 1,227 | 199 | 6,621 |
Window Replacement Cheviot Centre | 75 | - | (75 | ) | - |
E-Learning Room | 4,017 | (4,017 | ) | - | - |
Food Bank | 2,250 | 2,012 | 11,069 | 15,331 |
Remote Access Room - Attend anywhere | 1,093 | - | (1,093 | ) | - |
Reconnecting the Wooler Water | (1,296 | ) | 1,661 | - | 365 |
Feasibility Study - Old Barclays Bank | (980 | ) | 980 | - | - |
Garden Activities with Children | - | 1,021 | - | 1,021 |
Marjorie Stephenson Small Grants | - | (1,340 | ) | 7,788 | 6,448 |
Illuminated Sheep | - | (303 | ) | 303 | - |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
Memory Lane Dementia Care | - | 8,979 | - | 8,979 |
Glendale Nourish & Share Shed | - | 3,498 | - | 3,498 |
Warm Space | - | 5,626 | - | 5,626 |
Fuel for Shopping Trips | - | 524 | - | 524 |
Carham Defibrillator | - | 457 | - | 457 |
New Heating System - Cheviot Centre | - | (120 | ) | - | (120 | ) |
2,624,583 | (38,632 | ) | 45,102 | 2,631,053 |
TOTAL FUNDS | 2,859,233 | 12,795 | - | 2,872,028 |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | 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 | 215,506 | (164,079 | ) | 51,427 |
Restricted funds |
Cheviot Centre | - | (6,716 | ) | (6,716 | ) |
Cheviot Centre - Foyer | - | (344 | ) | (344 | ) |
Cheviot Centre - Library Extension | - | (712 | ) | (712 | ) |
Cheviot Centre - Sensory Garden | - | (108 | ) | (108 | ) |
Cheviot Centre - Library Fitting Out | - | (905 | ) | (905 | ) |
Cheviot Centre - Pre-developement Costs | - | (239 | ) | (239 | ) |
Cheviot Centre Performance Room | - | (646 | ) | (646 | ) |
Cheviot Centre - Pods and Offices | - | (2,986 | ) | (2,986 | ) |
Remote Learning Hub | - | (468 | ) | (468 | ) |
Mechanics Institute | - | (2 | ) | (2 | ) |
Town Centre Regeneration | - | (5,248 | ) | (5,248 | ) |
Youth Hostel | - | (6,066 | ) | (6,066 | ) |
31 High Street | - | (6,943 | ) | (6,943 | ) |
Old Library | - | (3,270 | ) | (3,270 | ) |
12a Church Street | - | (680 | ) | (680 | ) |
Roddam Dene House | - | (7,529 | ) | (7,529 | ) |
Communal Garden at Roddem Dene House | - | (37 | ) | (37 | ) |
Former Barclays Bank | - | (6,287 | ) | (6,287 | ) |
Wheatsheaf | - | (5,885 | ) | (5,885 | ) |
Robson Patterson Ancrum Endowment Cap | - | (1,068 | ) | (1,068 | ) |
Glendale Festival | 2,699 | (4,697 | ) | (1,998 | ) |
Hugonin Arts | - | (842 | ) | (842 | ) |
Natural Burial | 1,003 | - | 1,003 |
Twin Towns Project | 9 | (870 | ) | (861 | ) |
Glendale Festival Farmers Markets | 2,760 | (1,533 | ) | 1,227 |
E-Learning Room | - | (4,017 | ) | (4,017 | ) |
Food Bank | 6,140 | (4,128 | ) | 2,012 |
Reconnecting the Wooler Water | 3,652 | (1,991 | ) | 1,661 |
Feasibility Study - Old Barclays Bank | 4,723 | (3,743 | ) | 980 |
Garden Activities with Children | 2,400 | (1,379 | ) | 1,021 |
Marjorie Stephenson Small Grants | 194 | (1,534 | ) | (1,340 | ) |
Illuminated Sheep | 464 | (767 | ) | (303 | ) |
B Rattcliffe - for local use | 600 | (600 | ) | - |
Provide log bank | 2,500 | (2,500 | ) | - |
Memory Lane Dementia Care | 10,278 | (1,299 | ) | 8,979 |
Glendale Nourish & Share Shed | 7,594 | (4,096 | ) | 3,498 |
Warm Space | 11,346 | (5,720 | ) | 5,626 |
Fuel for Shopping Trips | 750 | (226 | ) | 524 |
Carham Defibrillator | 457 | - | 457 |
New Heating System - Cheviot Centre | - | (120 | ) | (120 | ) |
57,569 | (96,201 | ) | (38,632 | ) |
THE GLENDALE GATEWAY TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
TOTAL FUNDS | 273,075 | (260,280 | ) | 12,795 |
Transfers between funds |
The transfers between restricted and unrestricted funds during the year represent costs on restricted projects that had been met by the general funds of the charity. |
14. | RELATED PARTY DISCLOSURES |
During the year Ms A Wood, a trustee, was paid £2,350 for sessional work. This is in her capacity as a professional artist engaged to run an afterschool art club for the children of Wooler and the surrounding area. She was also paid £107 for items to resell in the centre shop. |
All transactions were on arm's length terms. At the year end Ms Wood was owed £120 by the charity. |