Charity iegistration number 1067733 (England and Wales) Cornpany reg15tratlon number 03490904 GL3 COMMUNITY HUB LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GL3 COMMUNITY HUB LTD LEGAL AND ADMINISTRATIVE INFORMATION Trusto0s Mr P J Anlill Mrocox Mrs P W Austin Mr A Moldei Mrs A Lawson Mrs T Lewi5 Miss N J Vizard (Appointed 21 July 20231 Charity number 1067733 Company number 03490904 R•glst•r•d offl Ch•lt8nham Road East Churchdown Gloucester Glou¢&sl&r8hlr8 Englan¢J GL3 1HX Independent examiner BK Plus Llmited 6 Manor Park 8usines$ Cenlrg Mackenzie Way Cheltenham Glouce51ershire GL519TX
GL3 COMMUNITY HUB LTD CONTENTS Page Trustees report Ind8p8ndent exatnlner's report Stslemenl of financial activlties Statement ol financial position Noles lo the flnan¢lal 81al8m8nl8 7-14
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 Irust88s pr8sent Ih8ir annual report and financial statements lor Iha y8ar end8d 31 March 2024. The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out in note I to the fin8nci81 slatetnenls and cotnply wilh the charity's governing document. the Cornpanies Acl 2006 and 'Accounts"ng and Reportsng by Charilies. Slatetnent of Recomfflended Practi applicable to chaiitie5 preparing their accounts in accordance th th& Financial Reporting Standard applicable the UK and R8public ol Ireland IFRS 1021" leff8cllve 1 January 20191. Objectives and Activiti Allsslons and Goals The GL3 Community Fkjb remains committed lo ils missK>n, as stated in the Vision Stalemenl To provide universal servic&s, as w&ll &s h88lth. social, gnwiionm8nial. and eclucelional opportunili&s,"The Hub's obj8¢tive$ continue to focus on,. Organislng lo¢al soelal and a¢livily-ba$ed drop-in oroups lor children, young people, f8Milies, and the broader community. Establishing so¢lal, educath)n81, and 8Ctivity-based f8cillli8s lor Children, young people, families, and thè broader community. Providlng Ioc8118¢llilles l¢r indlvidu31s with learning diffi¢ullies. Offèring 8ducatK)nal and Iraining progiamrnas lor wsid8nts of all ag8 groups. • Facilltatlng volunle8nng OPPDrtunlti8s lo r8duca 18olallon ane promot8 aciiv8 cltsz•nshlp. Public bon•fit Th8 charity continues lo provld8 publlc b8n8frt In1Sn8 with mission lo suppom th8 r8sid•nts ol Churchdown and surrounding areas. This ye8r, the grant fundlng Irom En¢v•rt enabled the much-needed iep18cem&nl of the lower roof, èlimlnaling prior Issues wher8 leaks forced tm8 closure ol parts of the bulldlng dudng wel weather and somgtlmes led 10 Postponement of support groups. This improvement has ensured uninterrupted seNices lo the community znd provided a safer and more reli8bl8 Spa lor our groups and adivilies. Achievements #nd performanrg This year has $8en significant prtsgr8ss and developtnerrt in th8 $grvic89 and offerings providad by the GL3 Community Hub. Key achievements include.. The intro(Juction of a parentlguardlan toddler group. offering an accessible social and support network for local fomlll¥s. Expansion of Ihg W¢llbglng Wgdn•sday Inlualivg In portngrshSp with Goo1$ 8tryond Grass, almgd ot $upportlng vulnèrable adulL% wlh Ihtr option ol aclw or b¢)ard gams. Significant increases in foDdbank usage through our partnership wlh Hungry No mo, alongside strategies lo secure ongoing food donations to meet demand. The Café opgratlon$ were brought in-house, allivling us to locus on non-pro)It hol drinks, snacks, and hornemade cak8s. This tnov8 has 18duc8d pric8s In th8 cal8. making it mor8 8ffordabl8 for all rn8tnbers ol thg ¢ommunily, and enabled 1he reGNitmenl of an additional staff mernber. Volunteer numbers Increased, further enhanciryJ our ability to offer a range ol services and support. Sonlor youth club launched lor SEND young peDple, part funded by Tewkesbury Borough Counal. addressing a key nggd Sn the ¢ommunlty. The Hub has also wntinued to work dosely with Neighbourhood HoLJsing Officers, social prescribers. and local PCSOS to support vulnerable groups.
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Investment Policy and Objectiv•s Due lo limited unallocaled funds, interest earned on bank deposits rtmains satisfactory for the charity. No surplus funds were avallabla durlng the y&ar. R•s•ry• polS¢y In light ol r15ing ulilily cost5 and the incrga51ng drfficulty In sgcuring gr3nt funding. thg Trus19es havg prudgntly inErga59d thg charity's rassrvè policy to covèr twalv• months of running costs. Additionalli, £96.000 has bo•n sat asid• lo covèr the anticipated cosis of replacing the sports hall roof,, as well as a contingency lor any shortfalls in th8 Section 106 funding eamarkecl lor building improv¢menl$. Flnancl41 porformanca The increas8 in ulilily cogts and wageg hay led lo the need for adjustmgnts in room hire charges. D88pile these increases, a shortfall remains, and grant funding is being 8¢lively sought to bridge this gap. To fijrther improve inccim¢. a mark$tlng ¢trat•gy is being devek)ped to prornote weekend hires, particularly lor birthda), parties. Futurg plan$ The Hub has a number of key initiatives planned for the future. Priority is b8ing giv8n to replarAng lh8 Sports hall roof, following y8ars ol l•mpJrary r8paiis. Th8 reconl award ol S•ctlon 106 funds Irorn a nearby houslng d8vèlopm8nt w511 support addits'onal up9rades to the buildin9. These upgrades will allow the Hub lo better accommodate the anticipated growth in ¢ommLJnily population, particularly from so¢ial housing developments. Improvements include enhancing the 18cilills accessibility and capacity to ensure that il can Continue to serve the needs ol the larger. rnore divers8 communilv. Struclure. gov¢man¢• and manag•m•nt Governing document The charity is controlled by ils gov?ming document, g deed of trust. gnd consliluled a lirnited compgry. limited by guarantee, as d$fined under the Companies Act 2006. The Board ol Trustees, equipped with diverse skills, provides governan¢e. The 8oard ¢on'oenes bi-monthly, wlh subgroups established for project work. It h98 appoinled a Chair, Vi¢tr Chair, Se¢r$tary, and Tre8sur8r. The Hub is ¢onstiluted as a ¢omp8ny limited by guarantee. devoid of shore pItal. In the 4ent gf winding up, il li9bililios surpass osssts, gach member's li4bilily is limil$d lo £1. Th¢ qov¢rnino document lor th¥ Hub is 11$ Mernorandum and Arti¢les ol Association. Board of Trustee5 ThB Board ol Trustoes provldes governance lor the Hub. This year, a n8w Trustee with HR and polley compllance experl•n¢o was appoinled, further slrenglhening the board's oversight capacity. The Board wnlinueg lo meet bi-monlhly, viilh subgroups lor sp8cific projects. The Hub is run by a srnall operational team led by 8 lull-time Managerlcoordinalor. Risk Managernent The Board of Tru51ee5 continues to monitor and manage risks, partLIlarlY in the areas of heallh and $8fely and building compliancts. This year, ntrw risks have emerged, most notably the Increased utlllty costs and wages, which hav& placed pressure on the charity's lin8n¢ial resources. Room hire charges have been adjusted a¢¢ordingly. and further grant funding is being soughl lo address shomfalls. Additionally, marketing plans are in place lo generate more weekend hires lor bimhday pariies and other events, which will help sustain income. 5tatoment of trusteas r•sponslbllltlgs The Iru$l&e£. who are also the directors of GL3 Communty Hub Llrl lor1he purpose of company law. are r&sponslble for preparing the Trustees Report and the financial statements in accordance with applicable law and Unrted Kingdom A¢counlin9 Stsndards (United Kingdorn Generally A¢cepted A¢coLJntin9 Procli¢el.
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Irusle&$ raport wa$ approved by the Board of Truslses. fvlrs P W Austin Trustee 25 November 2024
GL3 COMMUNITY HUB LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GL3 COMMUNITY HUB LTD I report lo the tru5lee5 on rny 8xaminalion of lh8 financial stalem8nt5 01 GL3 Community Hub Ltd Ithe chartyl lor lh8 y8ar ended 31 March 2024. Ro$pon$lbllltl&$ and b¥sl$ of roport As Ihe trustoes ol tho charity land also its directors for the purposes ol company lawl, you ar• responsible for tho preparallon ol the financial statements in accordanc8 with the r8quirom8nt5 01 the Companies Act 2006. Having $8li$fied myself that the finan¢ial statements ol the charity are not required to be audited undèr Part 16 of the Companies Act 2006 and arè eligible for independent èxamination, I rèport in resp6cl of My exarrination of the charty's financial slalemenls carried out under section 145 of the Charities Act 2011. In carrying out my exarllination I ha08 lollow8d the Direclions given by the Charity Comrnission under section 14515llbl of the Charities Act 2011. Ind•p•nd•nt •xamln•rf8 stat•m•nt I have comploted my exarninalion. I confirm Ihat no rnarters have corne to my atlenkn'on in cL)nneclion wilh the examination giving ma causa lo beliav$ that in any matarial raspècl.. accounting records were not kept in resped ol the charity as required by section 386 01 the Companies Act 2006. the financial statements do not accord with those records., or the financial 51alernenl8 do nDI cotnply with Ihe ac¢x)unling r8quirements of 8eclion 396 of the Compani85 Act 2006 other than any requirement that the fi'nancial statements give a true and fair view, which is not a matter considered 85 part of an indepènd8nt examinallon., or the financial stt)lernent5 have nol bean pr•pared In accordance with Ihe mèthods and prlncipleg ol the Stalamenl of Recommended Practice for 8ccounling and reporiing by charibes 8ppIic8ble lo charilies preparing their finBnci?I statements In acGDrdanG? wllh Ihg Flnanclal Repomlng Standard appll¢ablg Ihe UK and Repu>llc of Iielan*J IFRS 1021. I have no concerns and have c4Jme across no other matters in conneC.0n wilh Ihe examination to which attention Should be ¢rawn in this report in order lo en8blp a proper undersianding of the linan¢io1 Stolemenls lo be reo¢h¢d. Roger F Downes FCA Th¥ In¥tltulE gf Chart¥rod AOUntant9 Engaland and Wales BK Plus Limited 6 Manor Park Business Centre la¢ken2ie Way Challanham Gloucesttrrshlr8 GL519TX Dated., 25 November 2024
GL3 COMMUNITY HUB LTD STATEMENT OF FINANCIAL ACTtVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Rèstricted funds 2024 Totsl Unrestricted funds 2023 Restricted lunds 2023 Total 2024 2023 Notes Incom• from= Donations and legacies Chari18blè 8clivth$s Oiher trading aclivits'•s Inveslrnents 3.014 3,014 71,318 107,648 2,093 35 35 20.570 76,596 611 71,318 20,570 107.648 2.093 76,596 611 Total income 112,755 71,318 184,073 77,242 20,570 97,812 Exp•ndllur8 on: Charilable aGlivrties 131.153 71,961 203,114 77,585 19,605 97,190 Total expenditure 131 153 71,961 203,114 77,585 19,605 97,190 N•t IncomleXP0nd5tur9> 118,3981 16431 119,0411 13431 822 Othgr recognl¥gd 94lns and 109sg9'. Revaluation ol tangible fixed assets 48,019 48,019 Nèt mov•ment In fund• 118,3981 16431 119,0411 47,676 48.641 R•¢on¢ilialion of funds.. Fund balances al 1 April 2023 403,734 6,347 410,081 356,058 S,382 361,440 Fund balanc•s at 31 March 2024 385,336 5,704 391,040 403,734 6,347 410,(A1 The staterner)t of ffinanGial activities Include3 all g8in3 and lo3se3 recogni3ed in the yeHr. All illGorne expenditure derive fvorn continuing activities.
GL3 COMMUNITY HUB LTD STATEMENT OF FINANCIAL POSITION AS A T 31 AIARCH 2024 2024 2023 Not9¥ FlxÈd 8gse18 Investment property 10 175,000 175,LMIO Currènt a88•t8 Debtors Cash at bank and In hand 11 4.058 219,354 4,588 234.743 223,412 239.331 Cr•dilor8= amount$ f811ing du• within on• y•ar 12 17,3721 14,2501 N•t curmnl a860ts 216,040 235,(B1 Total as8•ts1•88 currnnl Ilabllltl•s 391,040 410,081 N•t ass•ts oxcludlng p•nslon Ilablllty 391,040 410.CB1 The lunds of the charity Ra8trict8d incom8 funds Unreslricted lunds 13 5,704 385.336 6.347 403.734 391,040 410.081 Th8 cornpany is ented to the ex8mption from Ihé audit r8quir8m8nt coht*in8d in $8tllon 477 01 tho Companiés Act 2006, lor the year ended 31 March 2024. The dSr¢¢tors o¢knowled9tr thglr responslblll9s lor ¢omplyln9 wlth th? rgquirfrments of Ihg Companles Acl 2008 wlth rgspgct to accounts'ng records and the preparation ol linanaal slalemenls. The member5 have nol requlred thè ¢ornpany to obtain an 8LJdll of Its flnan¢i81 ststements fr)r the year in question In accordance wilh s8clion 476. These finanLial slalements have been prepared in accordance with the provisions applicable to companies subject lo the small Companies regiThe. The financi81 sialemenls were approved by the 1ru8lee$ on 25 NovBYnber 2024 Nlrs P W Austin Tiustee Company registration numb8r 03490904 (England and V181esl
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountSng pollcle8 Ch8rity infowmation GL3 Communily Hub Ltd Is a privat• company limit8d by guarantse incorporat•d in England and Wales. Th8 register8d office is Challenham Road East, Churchdown, Glouc8st•r, Gbuc&sl&r5hir&, GL3 1 HX, England. 1.1 Accounting conventlon Th& financial stalem&nts hav8 b88n pr8parèd in aceordanc& ivith lh8 d)arity's1gOV8rnin9 doeum8nll, th& Companies Act 2006, FRS 102 The Financi81 Reporting Standard applic8ble in the UK and Republic of Irdand" I'FRS 102.1 and the charl.eS SORP 'Accounts'ng and Reporting by Charities.. Statement of RecomrTh9nded Practice applicable to charities preparing their accounts in aeeordance with the Financial Reporting Standard applicable in the UK and R8publi¢ ol Ireland IFRS 1021. lefftellve 1 January 20191. Thè ¢harlly is a Public Benefit Entity as d8flnod by FRS 102. The financial slalements are prepared in 51erfing. which is the functional currency ol the charity. Monetary amounts in Ih9sa financial stAlamants *a round&d to thè nearest £. The financial stalements have been prepared under the historical cost convenlion, Imodified to include the revaluation ol freehold propertiès and to include Inveslrnenl propertios and ctsrtain linan¢i81 instruments al lair valuel. Thts principal accounting polici8s adopted are set out below. 1.2 Charltable fund5 Unr8slrict8d funds can be u88d in accordance with th8 charllabl8 objecb'Y8s at th8 discr•lion ol th• trusteès. Restdclecj lunds ¢8n only be used for p3ni¢ular reslrl¢l8d purposes within the obSerts of the ¢harlly. Re61ri¢lion6 8rlse when sp8cified by th8 donor or when funds ar8 raised lor particular restrted purposes. Furiher expl3n8¢h)n of the nature and purpose of each fund Is Included In the notes to Ihe flnan¢l81 st8tements. 1.3 In¢orne All is recogni5gd in Ihe S¢algrnenl of FinarKial klivrties once thg chanty ha5 gnlitlgmgnl lo Ihg furKls, il is pmhohlp. IhAI thp inr.nrnp will hp rp.r.p.ivpd thp. amnijnt rAn . mpHqiirpd rp.liahly 1.4 Expondlturg Liabilities are reo)gnised as expendrture as soon as there is a legal or constructive obligation o)mmilting the charrty to that 8xp8nditure, it Is probable that 8 transfer of 8conomic benefits will b8 requir8d in setll8rneDt and the atnount of thg obligalic)n c8n be rnea.surpd rgliably. Expenditure is accounted lor on an accrua15 basis and has been cla55ffjed under hgodlngs that aggragata all cost ralatod to Ihg ¢Oteoory. Wherg Costs ¢onnot bg dlrgclly attrlbultrd lo partlculor headings they hévg been allocalgd to Pctiwties on a bgsis consi¥lgnl wlh the use ol rgsource8 1.5 Invastm•nt propèrty Inveslmenl property IS shown at most r8cenl valuatlon. Any aggregate surplus or deflcll arfsing from changes In falr value is recognisad in Ihe Slatsment ol Financial Aclivitias. 1.6 Taxatlon The charity is exempt from corporation tax on ils tharitable activities. 1.7 Pension costs and other post-retirement benefits The charitable company oper81es a dtsfined contn'bulion penyon g¢heme. Contributions payablè to the charitable company's pension scherne are charged to the Statement of Financial Activities in Ihe period lo which they relate.
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlong and legacles Unrestricted funds 2024 Unrestrictsd funds 2023 Donations 3,014 35 In¢om8 from ¢harttobl¢ a¢tlvltl•$ Res-.ricle(J lund$ 2024 Restricted funds 2023 Gronl$ 71,318 20,570 Pgrformancg related granls analysls 2024 2Q3 Enov8rt National Grid National Lottery Fund Ttswkesbury Boiough Council Travi8 Perkins Glouctershire Comrnunity Foundation 40.000 10.000 10,000 4,968 4,850 1.000 500 10,QXI 3.070 Rotary Club Gloucesler5hire County Council 171,3181 120,5701
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other tradlng actlvltSes Unrestricted funds 2024 Unr8Strict8d funds 2023 $100 funds Rents receivèd Solar panels Cafe income Storage ront81 Prlvats lunctlons Roorn hir8 13.278 9,687 1.574 19,256 1,302 2,256 60,29S 9.167 1,620 1,420 2.751 55,684 Other trading activities 107,648 76.596 Income from Investments Unr8stricl8d fijnds 2024 Unr8Stricl8d fund5 2023 Interest receivable 2.093 611
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendltur6 on charStablo actlvltles Total 2024 Total 2023 Dlm¢t ¢ost8 Staff wsts InsurJn¢ Light and Heal Stalionery, posl¥J8 and adv8rts Repairs & cleaning Youth dub Compulgr wftwore Clganing corllmunity grouplévenls Cafe stock Hire of plant & machinery Travel cosls Bank Charges Rates and wal8r Subscriptions & trainin9 Telephone 66,678 48,625 13.348 1,551 68,735 11,816 2,014 6,578 9.501 1.926 1,000 829 8,780 1,142 17,173 1.108 187 500 1,298 797 1,401 1,264 191,169 91,362 Shar¢ of support and gov&rnanc• ¢osts Accountancy and legal lees 11,945 5,828 203,114 97.190 Analy$l$ by fund Unrestricted funds R8slrl¢lgd funds 131,153 71.961 77,S85 19.e05 203,114 97,190 Suppvrt cpstB allvcat•d to activiti•8 21124 2023 Governance cosls 11,945 5,828 Analysed beeen. AcGountanGy and legal fe95 11,945 5,828 TrustBes None ol Ihe trustees lor any persons connected with themi received any remuneration or b8nefils from the charity during Ihe ytsar. 10-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The 8ver8ge mtsnthly number of employees during the yeer w8S'. 2024 Nutnber 2023 Number Employmént costs 2024 2023 Wages and $8larles Other pension costs 65,421 1,2S7 47,TT2 &53 66,678 48.625 There were no &mployees whose annu81 remunerallon was more than £60,000. 10 Investmont property 2024 Fair valu At 1 Apdl 2023 and 31 March 2024 175,0 11 Debtors 2024 2023 Amounts fallino due within one year.. Tra(Je debtors 4,058 12 Creditor¥'. 4mpunts falling due within on• year 2024 2023 Other taxation and Social security Trade creditors Other creditors A¢Gruals and dgf9rrgd in¢orng 1.280 3,957 575 1,560 1,48fj 575 7.372 4,250 11
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 R•strlcted funds The restrieted funds of the therity eornprise the unexpended bal8nces ol donotion$ and 9r8nts held on trust Subjeet to specific conditions by donori as to how Ihey rnay be used. At 1 April 2023 Incoming resour¢6s Resources 6yp&nded Al 31 March 2024 Youih Provision Mgn UP Grant Roof Replacèment Warrn Spaee Community Mattèrs Fuél Poverty Povety Hurts 6,264 83 14,968 4,850 40,000 500 10,000 1,000 115,5281 14,9331 140,0001 15001 110,0001 11,0001 6,347 71,318 171,9611 5.704 Pr•vlous y•ar'. At 1 April 2022 Incoming resources Resources expended Al 31 March 2023 Youth Provision Man UP Grant Rgnlshaw Youlh Provlslon TSC Cale labl6s GCF Cale tables Thriving Communllies S106 monies Warrn Spac8 2,308 824 500 1.000 TS0 10,000 18.0441 17411 15001 11,0001 17501 17,SOOI 12,0701 11,0001 6.264 83 7,SOO 2,070 1,000 5,382 20,570 119,6051 6,347 14 Unrestricted funds Th8 unr#stricled lunds uf th8 charity comprise th# un#xpend8d balanctrs ol donations and graDI5 which ara not Sublt lo sp¢cifie ¢ondilions by donors and 9ranl¢r$ as ID they may be used. These In¢lude desi9n8led funds which havè been Sel aside oul of unreslricled funds by the trustees for specific purposes. Al 1 April 2023 Incoming re50urce5 Resources expended Gains and losses At 31 March 2024 Genaral Fund RevalUa.an Reserve Fair Value Reserve Other reserves 146,144 129,2S3 45.707 82,590 112,755 11J1,15Jl 127,746 129,293 45,707 82,59) 403,734 112,755 1131,1531 385,33 12-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Unr•$tri¢tsd furnd8 Icontinutdl Prtsvitsus ytsar.. At 1 April 2022 Incoming resourc8s Re$our¢es 8xpended Gain$ 8nd losses Al 31 March 2023 General Fund R¢volutr'on R¢s¢rv¢ Fair Valuè Rèsarv Other Reserves 146.487 81,274 45,707 82.590 77,242 177,5851 146,144 129,293 45,707 82,5] 48.019 356,058 77,242 177,5851 48.019 403,734 15 Anatysls of net assets between fund5 unrgs1ii¢t9d tunds Restriclgd tunds Tolol 2024 2024 2024 At 31 March 2024: Invaslmenl prop&rties Current assets/{Iiabililiesl 175,000 210,336 175.Q)O 216.040 5,704 385,336 5,704 391,fy10 Unrg$lrlctgd funds 2023 Res¢ri¢led funds 2023 Tot$1 2023 At 31 Mareh 2023: Inveslmenl prop&rkn8s Current assetsllliaL)ililiesl 175.000 228.734 175.CQO 235,(B1 6,347 403,734 6,347 410,081 13-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Analysis of net a8strts betwèèn funds Icontinutdl Fatr Vttlue Reserve This represents the revaluabon of the prDperty in each year. Dosl9nat•d FuThJs 12 Month Running Costs Contingency.. £100.000- Rèserved lo covèr a full yèar of 0ratIng expènsès, ensuring linancial slabilily in casg of lunding dglays or incrga59(J costs. Sports Hall & Section 106 Altera.On ContirKJency.' £96,000 Set aside lor planned sports hall roof imPTovemenls and any conlingancios r&lal*d to Sèction 106 build, so wg'r8 proparad for both plannèd and unoxpéctad infrastruclure n8ed5. Gonoral Fund Iunrcstrictodl.. £14.336 This floxible fund will help us rnanago oxpoctod cost incroa5es in 2024-25. and thè ants'cipat4d déficit lor Iho 2024-2S accounts. •spécially with rising utility and inflalion-relat8d expenses. R•8trictad lunds N¥tlonal Lott•ry- Youth Provlslon is funding thal is uillised Its fa¢i1rt8le the Youth Club, held èvery Frid8y dLJrSng leim lirne excluswely. This encomp88ses the costs related lo nialerials. resources, and the ses8ions provided by the Springbank Convnunily Group, which allocate youth workers lor each session and manages all safeguarding procodures and poll¢les, Glou¢est&rshlr• County CoLJn¢S1- Man Up Is a men's m9nl81 heallh group whlch sel up Ihiee ye8r8 ago. Fundlng 15 prooid¥d lo conlribule lowards [narkeng, Such a518a11815 and local rnagazine advertisem8nl, training and roDtn hire, Transfers between funds Transfers are mede between reslri¢led and tJnrestrl¢led funds 81 the end ol #very accounting rorfod in eases whgr8'.- il the activity ol the reslricled fund has come to an end and there is an unspent balance that is not repayable to the funderlsl. when Ihe surplus is Iranslerred lo unrestricted funds., or ill the restricted fund Is Sn deflclt and has either come to an end or thera Is no prosp8ct of a surplus in a latèr riod, when the delicil 6 elimin81ed by transfer frorn LJnreslri¢led fund$', or iiil in(x)me that is received in the restricted fund covers in part some ol the costs in the unrestrioted funds. 16 R•lat•d party tran8actlons There were no di5closable related party transactions during the year12023- none). 14-
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