Charity re8lStration number 1068064 Company reglstration number 03488288 (England and Wales) DELTA-NORTH CONSETh LIMITED ANNUAL REPORT AND FINANOAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2024
DELTA- NORTH CONSE LIMITED LEGAI AND ADMINISTRATIVE INFORMATION Tru5tee5 Mr A Wat50n Mr R F Tyerrrnan Mr A Gallagher B A 5alkeld Mrs A Scott Rev P Sinclair Mr R Convery Mr M Innes Mr l D Shield Mr J Underwood Secretary Mr P Hillary Charlty number 1068004 Company number 03488288 Re815tered office YMCA Parliament street Conseii Co Durham DH8 5DH Audltor rc Group 12 Bessemer Court Hown$8111 Industrf¥l Park Knitsley Lane Con5ett Co Durham DH8 7BL
DELTA- NORTH CONSE LIMITED CONTENTS Page Tru5tees' report Statement of Trustees. responsibilities Independent auditor's report Statement of flnancial activitles io Balance sheet li Statement of cash flows 12 Notes to the financial statements 13-27
DELTA- NORTH CONSE LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORTI FOR THE YEAR ENDED31 AUGU5T2024 The Trustees present their annual report and financial statements for the year ended 31 August 2024. The linanciol stoternent. have been prepared in occordance with the uccountinE policies Jet out in note I to the financial staternent5 and cotnply with the Charity'5 governing doiument. the Cornpanie5 A£t 2006 and 'Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli£able irb the UK and Republic of Ireland IFRS 1021 lelfective l January 20191 Objectives and activit12S To provide or a551St in the provision of social wellare or facilitie5 lor recreation, education, training, leisure and advice lor rnen, women and young people Kiith the object of improvin8 their conditions of life. To provide. improve and rnanage housing and our a¢tivily hostel accomrnodalion for men and women of all ages upon 18rms approprlate to their means, Public berjefit The Trustees have paid due regard to guidance issued by the Charity Comrnission in deciding what activiries ihe Charitv should undertake. Achlevements and performance gnifiiant octivitie5 on41 acl?ievenientS 0goin5t objective5 We have agaSn seen some changes wlthin our Curriculum and Teaching and Learnln8 since Septernber to best Impact our students. rhis has included the expanslon of our Outdoor learnlng currlculum vla the Duke of Edinburgh's Award. Mental He31th and Safeguardihg remain a huge and intreasingly diffitult area of our role hère at Delta Independent School and we continLJe to work close with all pupils to make sure we are meeting not only the statutory requirenknts, but the students, needs throughout their time here 8t Delta. We are still workSng in partn*rship with our local Multi Academy Trust working towards the proposed Trust academlsation and continues to be an Alternative Provision as pari of ihis, The future of Delta Independent School looks bright, and we are excited to continue to see the development 3nd growth of our School throvghout the next financial and academic year,
DELTA- NORTH CONSE LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORTI ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Prlnces Trust Team The Prince5 Trust Team Program at Delta North Consett Ltd is 3 12-week motlV3tional arid 5elf-development COUT5e for young people aged 16-25 who are strugglingto reach their full potential. The course aims to help young people achieve a P051tive outcome, such as further education, employment, or volunteering. Over the 12 weeks, siudents can complete a nationally recognised qu31ification at Award Level l or 2. depending on their Individual needs. Although the course is short, it is packed with activities that challenge students, includlng a residential experience, community project, team challenges, and a final presentation. The program has seen an increase in the number of students with menial health and safeguarding needs sinte the return lo post-pandemic life. Staff have worked extremely hard to support students with both their studies and any personal issues. The program has a strong working relationship with its partner colleges. Derwentside College and Stockton Riverside College. This allows rhe program to run teams across Durham and rhe local area. The program 15 constantly evaluating emerging areas of need and looking to expand its provision to meet the targets set by Its fundin8 colle8e5. Princes Trust staff are a150 cornmitted to their professional development, Hostel,. Since the Covld-19 pandemic the doors ol our hostel ntInUe to rernain closed. There are currently no plans to reopen. Delta North Con5ett Llmlted Bomlns Club Consett Delta ABC has continued to be well attended and an increasingly busy part of the Charity with the number5 of young people and older people showing interest ii)creasing monthly. Since the reopening we have seen a substantial increase of young people wanting to attend our gyrn and we have some exciting plans for the future ol Delta ABC. Hnanclal revlew Reserves policy 11 is Ihe policy of the charity that unrestricted funds which have not been desi8nated for a specific use should be maintained at a level equlvalent to berween three and six month's expenditure. The charlry deterrnlnes that reserves ar this level will ensure that, in the event of a significant drop in fundin8, they will be able to continue the current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
DELTA- NORTH CONSE LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORTI ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Investmentpoliry The Charity holds investments in order to generate cash should the Charity be in need of it. Majorri5ks The Trustees have assessed the major rlsks to which the charlty is exposed, at)d are satisfied thJi systems are in place to rnitigate exposure to the major risks. Structurei governance and mana8ement The Charity is a company limited by guarantee. Chalrman - Mr A Wat50n General Mana8er- Mr N Curran Mr A Watson Mr R R Tyerrman Mr A Gallagher A Salkeld Mrs A Scott Rev P Sinclair Mr R Convery Mrm InnÈs Mrj Oshipld Mr l Underwood Recruitment and oppointment of trustees The Trustee5 are recruited from the local area, from bu5ine55'5 and community groups that have the skills to help and develop the Charity. Lotal ¢oun¢illors are alsts invlted to join the board of irustees. On appointment, the Trustees receive a tru51ee5' pack that outlines the aims and objectwes ol the charity and the role of the trustees. Further training 15 given when appropriate. Qigonisutio,•ol stru¢tuie Day to day running of the charity 15 the responsibility of the General Manager, Neil Curran. The school principal Paul Hillary, rpports directly to the General Manager. The Charities finances are the responsibility of the General Manager and Board of Trustees. Decisions are made by trustees at quarterly board meetin8s, based upon a majority vote,
DELTA- NORTH CONSE LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORTI ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 RemunerÉ7tlDn policy No Trustees receive any remuneration. Audltor In accordance with the company's articles. a resolution prop051n6 that TC Group be reappolnted as audltor of the company will be put at a General Meeting. Public BenefSt Statement The Trustees have had regard to the Charity Comrnission's public benefit Buidance and have taken It into aecount V4hen rnaking a decision to which the guidance is relevant. Goin8 Concern Distlt*sur@ of Information to audltor Each of the frustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate stèps to Identify such relevant inforrnation and to establish that the auditor is aware of such inforrnation. The Trustees, report was approved by the Board of Trustees. MrA Wat50n Chalmian 30 May 2025
DELTA- NORTH CONSE LIMITED StATEMENT OF TRUSTEES, RESPONSIBILttlES FOR THE YEAR ENDED31 AUGU5T2024 The Trustees, who are also the directors of Oelta North Consett Limited for the purpose of company law, are responsible for preparing the Tru5tee5' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards junited Kingdom Generally Accepted Accounting PractKel. Company requires the Trustees to prepare financial statements lor each linancial year which give a true and fair vievi of the state of affairs of the Charily and of the incomin8 resources and application of resources, including the income and empendlture. of the charitable company lor that year. In preparing these financial statement5, the Trusrees are required ro= select suitable accounting policies and then apply them consistentlv.. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. Stale whether applicable UK Accounting Standards have been followed, subject to any material departure5 di5clo5ed explained in the financial statements.. and prepare the financial statements on the going concern basis unles5 St is inappropriate to presume that the Charity will contlnue In operailon. Thè Trustees are résponsible for keeplng ad•quatÉ aceountlng record$ that disclose wlth reasonablè accuracy at arny time the financial position of the Charity and eiiable them to ensure that the financial statement5 comply with the Companies Act 2006. They are a150 responsible for 5afe8uardin8 the a55et5 of the Charity and hence for taking reasonable 5tep5 for the prevention and deteCtn of fraud and other irregularities. ststement as to dlsclosure to our audltors In so far as the Trustees, who are also dlrectors of the charltable cornpany for the purpose of company law, are aware at the time of approving our Trustees, annual report,, ol which the charitable coNpany's auditor is unaware, and the directors, hivin8 made such enquiries ol fellow direttors and the charitable Company's auditor that they oughi to have made, have each taken all steps that they are obllged to take as o director in order to make themselves aware of any relevant audlt Inlormatlon and to establlsh tha1 Ihe audlror Is aware of that Informarlon.
DELTA- NORTH CONSE LIMITED INDEPENDENT AUOITOR'S REPORT TOTHE TRUSTEESOF DELTA- NORTH CONSE UMITED Oplnlon We have audited the financial sratements of Delta - Norrh Consett Limired (the 'Charity'j for rhe year ended 31 August ?024 which comprise the statement of financial artivitie5. the balance sheet, the statement of cash flow5 and notes to the financial statements, including significant actounting policies. The finèncial reporting framework that has been applied in their preparation is applicable13w and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finonciol Reportin9 Stondardopplicoble in the UK tsnd Republic of Irel(Jnd (United Kinsdom Generally Accepted Accounting Practicel. In our opinion, the financial statements.. give a true and fair view of ihe state ol the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including it5 incorne and expenditure, for the year then ended., have been properly prepared in accordance v41th United Klngdom Generally Atteoed Accounting Prattl¢e- and have been prepared in accordance with the requirements of ihe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under Ih05e standards are further described in the Auditors rgsponsibilitiesfor the oudit ol the financial sttitements section of our report. We are independent of the Charty in accordance with the ethical requirernents that are relevant to our audit ol the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical re5pon5ibilitie5 in aciordance with these requirement5. We believe that the audit evidence we have obtained is suff icient and appropriate to prDvide a basis for our opinion, Concluslons relatln8 to 8oln8 concern In auditing the linancial statements, we have concluded that the Trustees, use ol the going concern basls of accounting in the preparation of the financial Statements is appropriate. Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or condition5 that, individually or collectively, rnay cast significant doubt on the Charity's ability to continue as a goin8 concern for a p&rlod of at least twel¥@ mtsnths from when the Ilnanclal statmént5 ère authorised for ISSUÈ. Our responsibilities and the responslbi15tis of the frustets wlth respect to going concern are describèd in the r*levant 5ection5 01 thi5 report. Other information The Dther information comprises the information included in the annual report other than the financial staternents and our auditor's report thereon. The Trustee5 are responsible lor the other information contained within the annual report. Our opinion on the financial statements dues not cover the other information and, emcept to the extent otherwise explicitlv stated in our report, we do not expres5 any lorrn of assurance conclusion thereon. Our re5ponsibilily is to read the other information and. in doing 50, consider whether the other information 15 materially incon515tent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify guch matÈrial intonsistenciès or apparent matÈri31 misstatÈtllents, wè are required to deterrnine whether this 8ives rise to a material misstalement in the financial statements themselves. If, based on the work,Ne have performed, we tonclude that there is a marerial misstatement of this other informatlon, we are requlred to report rhat fact. We have norhin8 to report in this regard.
DELTA- NORTH CONSE LIMITED INDEPENDENT AUOITOR'S REPORT ICONTINUEDI TOTHE TRUSTEESOF DELTA- NORTH CONSE UMITED Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforrnation given in the tru5tee5' report for the flnanclal yèar for which the flnanclal statements are prepared Is consistent with the financial statements,. and the tru5tees' report ha5 been prepared in accordance with Ihè applicable legal requirements. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit.. the information 8iven in the Trustees, report for the financial year for which the finanrial statement5 are prepared, which includes the director5, report prepared for the purpose5 of company law, is consistent with the financial statements., and the director5, report Included wiihin the Tru5tees' report has been prepared In accordance wlth appliiable lesal requirements. Matters on which we are required to report by exception In thè light of the knowledgè and understanding of thè Charity and its environment obtained the course of thÈ audlt, we have not identified material mi5ststements in the direcrors, report included within the Trustees, report. We havg nothln8 to r•port In r•spgct of the lollowlng matters In rélation to which the Companles Act 2006 requires US to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate lor our audit have not been received from branches not visited by us,. or the financial statements are not in 48reement with the a¢counlin8 records and returns,. or certain disclosures ol trustees, remuneration specified by law are not made,. or we have not recelved all the information and explanations we require fDr our audit.. or the Trustees wèrÈ not entitled to proparÈ the flnancial statèments in accordantè wlth thè small companiès regime and take advantage of the small companies, exemption5 in preparing the frustees, report and from the requirement to prepare o strategic report. Responslbllltle$ of Trustees As explained more fully in the statement of Trustees, responsibilities. the Trustees. who are also the directors of the Charity for ihe purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and lor such internal control as the Tru5tee5 determine 15 necessary to enable the preparation of financlal statements that are free from matÈrlal mi55tatÈment, whether dLJ2 to fraud or error. In preparing the financial statement5, the Trustees are responsible for assessing the Charitii's ability to continue as a going concern, disclosing. as applicable, matter5 related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 50. Audltor'5 re5pon51billties for the audlt ol the financlal statements Our objectives are to obtain reasonable assurance about whether rhe financial statements as a whole are free from rnaterial misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a materièl mi55tatement when it exists. Misstaternents can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
DELTA- NORTH CONSE LIMITED INDEPENDENT AUOITOR'S REPORT ICONTINUEDI TOTHE TRUSTEESOF DELTA- NORTH CONSE UMITED Irregularities, including fraud, are instances of non-compliance with laws and regulations, The extent to which our procedure5 are capable of deterting irregularities, including fraud, is detailed below. Extent to whlch the audlt was consldered iapable of detectln8 Irre8ularltle5, Includlng fraud The objectii'e5 of our audit, in respect to fraud, are.. to identify and a55esS the ri5k5 of material tniSStatement of the financial statements due to fraud,, to obtain sufficient appropriate audit evidence regarding the assessed risks of material niisstatement due to traud, through designing and implementing appropriate re5pon5e5.' and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary re5ponsibilit¥ lor the prevention and detection of fraud rests with both those charged with governance ol the entf(y and it5 m3nagernent. Our approach was as follows.. We identified areas of laws and regulations that could reasonably be expected tts have o maierial èffett on the Ilnancial statements from our general commerclal and Sector experience, and through discussion with rhe trustees and management la5 required by auditlng standardsl, and discussed wlth the trustees and management the polScie5 and procedures regarding compliance with laws and regulations- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework IFRS 102 and the Companies Act 2006, the Charities Act 2011 and Ofsted regulations) and the relevant tax compliance reÈLJlations in the UK,. We considered the nature of the industry, the control environrnent and the Charity's performance,. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-iornpliance throu8hout the audit,. We ton51dered the proctdure5 and controls that the Charlty has e5tabllshed to addre55 rlsks Identlfled, or that otherwise prevent, deler and detect fraud., and how management monitors those pro8rammes and controls. eased 01) Iliis und¥rslal)ding we dsignd vui audil pruieduis Lv id¥riiify ni)i)-LUITipliaiiLe wilh 5ULh laws and r6ulaiiviis. Where the rlsk was con51dered to be higher, we performed audlt procedures to address each Identified fraud risk. These procedures included.. testing manual journals,. reviewing the financial statement disclosures and testing to supporting documentation- performing arnal1¢al procedures,. and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free frorn fraud or error. Owlng to the Inherent limitations of an audil, there Is an unavoidable risk that we may not have detecied some material rnisstatements In the financial statements. even though we have properly planned and performed our audlt in accordance with audiring siandards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is from rhe events and transartlDn5 reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards WDLJld identify it. The risk 15 21so greater regarding irregularities occurring due to fraud rather than error, as fraud involve5 intentional concealment. forgery, collusiDn. omission or misrepresentation. We are nDt responsible for preventing non-compliance ènd cannot be expected to detect non-compliance with all laws and rgEulations.
DELTA- NORTH CONSE LIMITED INDEPENDENT AUOITOR'S REPORT ICONTINUEDI TOTHE TRUSTEESOF DELTA- NORTH CONSE UMITED A further description of our responsibilities is available on the Financial Reporting Council's website at.. httP5'.//www.frc.orE.uk/Dur-WorklAudiVAudit-and-a55urancelstandards-and-guidancelstandards-and-guidance-forauditor5 /Auditorsresponsibilities-lor-auditlDescription-ol-auditors-responsibilities-lor-audit.aspx. This description forms part of our auditorf5 report. Use ol our ieport This report 15 made solely to the charitable company's trustee5, as a body, in 8ccordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit WDrk has been undertaken so that we rnight statè to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibillty to anyone other than the charltable company and Its trusrees as a body, for our audit work, lor this report, or for the opinions we have formed. Use of our ieport This report Is made solely to the Charity's members. as a body, In accordance with Chapter 3 of pari 16 of the Companles Act 2006. Our audit work has been undertaken so that we mlght state to the Charity's members those malters we are required to state to them in an auditor's report and for no orher purpose. To ihe fullesr extent permitred by law, we do not 4ccept or as5uine re5pon5ibility to anyoi)e other than the Charity and the Charity'5 member5 as a body, for our audit work, for thls report, or for the oplnions we have formèd. Mark Hunter FCA (Senlor Statutory Audltorl for and on behalf of TC Group 30 May 2025 ststutory Audltor 12 8e5semer Court Hownsgill Industrlal Park Knllsley Lane ConsÉtt Co Durham DH8 78L
DELTA- NORTH CONSE LIMITED StATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED31 AUGusf2024 UnrestrScted Restrlrted Total Unrestrlrted Restrlcted Total funds fund5 funds fund5 2024 2024 2024 2023 2023 2023 Notes Income and endowments Irom: Donation5 3nd legacie5 Charitable activities 4,563 1,467,410 13 4,563 1,467,410 13 1,609,871 32 1,609,871 32 Investmenis other incorne 9,365 9,365 28,300 28,3CKI Total Sncome 1,619,268 1,619,268 1.50D.286 1,500.286 Expendlture on: aislng funds Charltable activitles other expenditure 2,004 1,782,000 4,450 1.675 1.679,216 3,710 1,675 1,693.856 3,710 13,183 1.795,183 4,450 14.640 Totsl expendltur• 1,788,454 13.183 1,801,637 1,684,601 14,640 1,699.241 Net gainslllossesl on Investmonts 13 2,212 2,21S 3,021 3.021 N•t pxpendltur• and fflovamqnl In funds 1166,9681 113.1831 1180.1511 1181,2941 114,6401 119S.9341 Re¢on¢iliatitrn of funds: Fund balances at I September 2023 1,270,701 451,915 1,722,616 1,451,995 466,555 1,918.550 Jnd balances at 31 August 2024 1,103,733 438,732 1,542,465 1,270.701 451,915 1,722.616 The statement of finawial activities includes all gains and losses recognised in the year. All in¢ome and expenditure derive from continuin8 activities. 10-
DELTA- NORTH CONSE LIMITED BALANCE SHEE[ A5AT31AU6UST2024 2024 2023 Noles xed a55ets Tangible assets Investments 15 16 1.103,928 116,778 1,129,613 104.560 1,220,706 1.234,173 Current assets Debtors Cash at bank and in hand 17 216,231 198,092 294,820 413,439 414,323 708.259 Credltors: amounts falllng due wtthln one year 19 192,5641 1219.8161 Net current assets 321,759 488,443 Totsl assets les$ current IlabSlltles 1,542,465 1,722,616 N•t a$$4ts gx<ludSn8 Pgnslon Ilabllltv 1,542,465 1,722.616 The funds of the Charlty Restricted income funds Unrestricted funds 21 438,732 1,103,733 451,915 1,270,701 1,542,465 1,722,616 Th* financial statèments were approved by the Trustees on 30 May 2025 Mr A Watson Chalmian Cornpany registration number 03488288 (England and Wales) 11
DELTA- NORTH CONSE LIMITED StATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 AUGU5T2024 2024 2023 Notes Cash Ilows from operatlng acti¥ities Cash absorbed by operations 26 1170,4501 1144.4231 Investing activities Purchase of iangible fixed assets Proceeds on disposal of tangible fixed assets Proceeds on di5PQ5al of investment property Purchase of oiher investments Investment gain5 reinvested Investment income received 139,5511 6.930 141,2961 335,000 iio,0001 15,6021 13 14 Net ¢a$h (used Inllgenerated Irom Investlng atilvltlqs 142,6071 288,115 Repayment ol bank loans Payment of obliBations under finance leases 12,3081 127,6301 Net cash used In Ilnanclng actlvStles 12,3081 127,6301 Net Idecrease}Ilncrease In cash and cash equlvalents 1215,3651 116,C62 Cash and cash equivalents at beginnlng of year 413,439 271,126 Cash and cash equlvalents at end of year 198,092 413,439 12-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGU5T2024 Accountlng pollcies Charlty Infowmatlon Delta - North Consett Limited is a private company limited by guarantee incorporated in England and Wales. The registered Dffice is YMCA Parliament Street, Consett, Co Durham, DH8 5DH. The principal activity of the ch3ritV 15 the provision of education and training to young persons. 1,1 Accountln8 con¥entlor• The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and 'Accountlng and Reporting by Charitie5.. Statement of Recornmended Practlce appllcable to charitie5 preparing rheir accounrs In accordance wlih the Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 (effective l Janiiary 20191 The Charity is a PLiblic Benr4fit Entity as defined L)v FRS 102. The financial staiements are prepared in sterling, which is the functional currency of the Charity. Monetary arnounts in these financial 5taiements are rounded to the nearest £, The financial 5tatement5 have been prepared under the historical cost convention, modified to include investment properlSes at lalr value. The prlnclpal iccountin8 oolicles adopted are set out below. 1.2 Grjinu toncern At the time of approving the financial statements. the Trustees have a reasonable expectation that the Charity has adequate resources to contlnue In operatlonal existence forthe foreseeable future. Thus the Trustees contlnue to adopl the going concern basis of accounting in preparing the financial staternents. Contracts for Prlnces Trust training programmes between the Charity and Sts partner schools, which account for significant proportion of total income each year, are due to be renewed in July 2024. Mana8ement and the board of Trustees see no issues with these contracts being renewed for the year tD July 2025, and therefore no Impact on the Charity's abllily io contlnue as a golng Concern. Management and the board of TrustèÈs take a proactlve approach in reviewin8 the Charity's expenditure and resoLJrces on a periodic bas15. This allows the board to identify areas and opportunities available to the Charity in ordèr to rnitigate against any threat5 that may cast doubt ovèr tho operational existenco ol thÈ Charity. 1.3 Charltable fund5 Unrestrlcted funds are available for use at the discretion of the Trustees In furtherance ol thelr Charitable objectives. Restricted funds are subject to specific conditions by donors or graniors as to how they may be used. The purposes and uses of the restrirted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance ConditnS have been met, the amount5 can be measured reliably, and it is probable that income will be received. Cash donations are recognlsed Dn receipt. Other donations are recognised once the Charlty has been notifled of the donation, unle55 p2rfDrtnance condition5 fEqulre dEferral of the amount. 13-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Accountlng pollcles Icontlnuedl Legacies are recognised on receipt or otherwise if the Charity has been notified of an impendin8 dislribLltlon, the amount Is known, and receipt is expected. If the amount is not known, the legacy is treated as a contlngent asser. Income from 8overnment, local authority and other grants, whether "capital, grant5 or'revenue" grants, is recognised when thè Charity has entitlernent to the funds. any perlormance conditions attached to the grants have been met, it is probable that the incon)e will be received and the amount can be measured reli3bly and is not deferred. Donated 8oods 3re recognised as incorne at the time ol sale. 1.5 Expenditure All expenditure is accounted for on an accruals basis, net of VAT, and has been classified under heading5 that a88resate all c05t5 related lo each cate8ory ol expense Shown in the Statement of Financial Activities. Expendlture Ss recognised when the there Is a present obligatSon resultlng from a past event. Where costs Cannot be directly attrib(rteil to particular headings they have been allocated on a basis cong1Stent with the of resources. 1.6 Tan8lbl• flM•d Tan8ible fixed assets are initially measured at cost and subsequently measured at tost or valuation, net of depre¢iatlon and any impalrmenl1055es, Depreciation is reco8ni5ed $0 as to wriie off the cost or valuation of asseis less iheir residual values over iheir useful lives on the followini ba5e5= Freehold land and buildings Fixtures and fittings Motor vehicles 2% Straight Line (Applied to buildin85 only) 12.5% Reducing balance 25% Reducing balance The 83in orloss ari5in8 on the disposal of an asset is determined as the difference between the sale proceeds and the carrying Val of the asset. and 15 recognised in the statement Df financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently ea5ured at lair value at each reportin8 date. Transaction costs are expensed a5 incurred. Changes in fair value are reco8nised in the Statement of Financial Activities. 1.8 Impalrment ol fixed assets At eath reporting end date, the Charity reviews the carrying amounts of it5 tangible assets to determine whether there 15 any indication that those assets have suffered an impairment105s. If any Such indication exists, the recov&rable 3tnount of the a55et 15 estimated in order to determine the eKtpnt of the impairrnent loss lif anyl. 1,9 Cash and cash equivalents Cash and cash equivalent5 include cash in hand and deposits held at call with banks. 14-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Accountlng pollcles Icontlnuedl 1.10 Finanrial instrurnents The Charity has elected to apply the piovisions ol Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instrument5 Issues. of FRS IQ2 to all of its financial in5trumenl5. Financial instruments are recognised in the Charity's balance sheet when the Charfty becomes party to ihe contractual PrO510n5 of the Instrurnent. Financial assets and liabilities aro offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognlsed amoLJnts and there is an intention to settle on a net bagis or to realise the asset and settle the liability simultaneously. Ousicfinuncitrl ussets Ba51¢ financial a55ets. which include debtor5 and cash and bank bHlance5, are Initbally measured at transaction prlce including transaction cost5 and are subsequently carried at amortised cost using the effective interest rnethod unless the arran8rnènt conslitutes a financin8 transaction, whre the transaction is measured at the present value ol the future receipts dlscounted at a market rate of Interest, FSnancial assets classilled as recelvable wlthin one year are not amortised. Investments in publicly traded shares are initially rneasured at transaction price excluding transaction costs, and are 5ub5equently measured at lair value al each reporting date. Transaction costs are expensed as incurred. Chan8e5 in lair value are recognised in the Staternent of Financial Activities. B&sicfinan¢ial liabilities Basic financial liibilities, including creditor5 and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Flnancial liabllities classified as payable withln one year are not amortised. Debt Instruments are Subsequently carrled at amortlsed cost, uslng the effectlve Interest raie method. Trade credStors are obllgations to pay lor good5 or servlces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are (lassified ès current liabilities if payment Is within one year or less. If not, they are presented as non-current liabilities. Trade creditors are reco8nised initially at transaction price and subsequently measured ar amortised cost Usin8 the effectlve Interest rnethod. Derecoqnltlon ofllnun¢l¢rl Ilobllltles Flnancial liabllities are derecognised when the Charity's contrattual obligations expire or are discharged or cancelled. 1.11 TaMatlDn The Company Is potentlally exempt from taxatlon in respect of Income or capital galns recelved within categorles covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992 to the extent that such income or gains are applied exilusively to charitable purposes. 15-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Accountlng pollcles Icontlnuedl 1.12 Employee beneffts The cost ol any unused holiday entitlement 15 recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termlnatlon benefit5. 1.13 Retlrement beneflts Payrnents to defined contribution retirement benefit schemes are charged 85 an expense as they fall due. Incorne from donations and le¥a¢ies Unrestrlcted funds 2014 Unrestrfcted fund5 2023 Donations and gift5 General Grants 2,338 2,225 4,563 Granls r•c4fvablg for cor• artlvltl•s Other 2,225 2.225 16-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Income from charltable actlvltles Unrestrictèd funds 2024 Unrestricted funds Z023 Charitable Activities Alternative education Princes Trust Charity Shop 795,727 709,678 104,466 714.048 650,479 102,085 Cafeterla Charity Shop 798 1.609,871 1,467.410 Ineome from invèstmènts Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 32 13 other in£ome UnrtrICted Unrestrlcted funds fund5 2024 2023 Other income Rent31 Incorne 4,375 4.990 22,430 5.870 9,36S 28.3CX) 17-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 Expendlture on ralslng fund5 Unrestrlrted funds 20Z4 Unrestricted funds 2023 Fundralslng and publlclty Advertising 150 211 Tradlng costs Operating charity shops Other trading activities 489 1,365 1.456 1.854 1.464 Total c05tS 2,004 1.675 Expendlture on charltable actlvltles Charllable Activitles Charltable Actlvltles 2024 2023 Dlrèct cosis Staff costs Depreciation and impairment Durham Works Altèrnatlve èducation 1,148,863 55,724 1,080.856 60,237 649 124,535 161.523 4,775 124.638 125.956 20,275 Prince's Trust Roorn hire 1,495,420 1,412,611 Sharq of support and governanc• cosls15•e nota 81 Support Governance 209,124 90.639 157,226 124.019 1,795,183 1.693,856 Analysls by fund Unrestricted funds Restricted funds 1,782,000 13,183 1,679,216 14,640 1,795,183 1,693,856 18-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 SppOrt costs allocated to actlvitles 2024 2023 Depreciation Rent and utility costs Motor and fuel costs 2,582 43,844 45.066 20,913 35.812 60,908 90,638 31,386 30.548 18.106 19.017 58,169 124,019 Repair and maintenance costs Telephone and office costs General support GQ5ts Governance costs 299,763 281,245 Analy$ed betwegn: Charitable Actlvltles 29Y,763 2111,245 Staff governance costs relate to wages paid to employee5 whose dutie5 involve adrnini5tr?tion activities in relation rn qtratpglc Dlanning and gnvprning nf thg ¢.hariT¥ Th? rimp iD•nt hy èmplnypps M thp.qp iriiviii•s ig allNratgrJ to governance costi. Net movement in fund5 2024 2023 The net movèment In funds is stated alter charging/lcreditirol'. Fees payable ro the charlty's auditor.. for thè audlt of the tharlty's financlal gtatements for other financial Services Depreclation of owned tangible fixed èssets L05s on disposal of tangible fixed assets S,060 22,553 55,724 2,582 4,77S 10,335 60,237 10 Audltor's remuneratlon Fees payable to the charity's auditor and associate5'. 2024 2023 For audlt servlces Audit of the financial statements of the chaTItv 5,060 4,775 For other servlces All other non-audit services 22,553 10,335 19-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 11 Trustees Nonc of the Trustccs lor any pcrson5 conncctcd with thcml rcccivcd any rcmuncrotion or bcncfitJ from the Charity during the year. 12 Employees The average monthly numLEr ol employees during the year was.. 2024 2023 Number Number overnance Operational Stafl 38 39 Tulél 40 41 Employment cosls 2024 2023 Wa8e5 and 5alarie5 Soeial se¢uritV costs Other pension costs 1,081,585 99,475 24,791 1,009.381 110,883 56.149 1.205.851 1,176.413 Staff costs, Includlng pension contrlbutlons, are allocated between restrlcted and unrestrlcted funds based on the percentage of time each employee ha5 spent on each project over the year. The number of employees whose annual rernunÈr3tSon was £60,or)O or more were.. 2024 2023 Number Number £60,ItQ- £70,000 -20-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 13 Galns and losse5 on Investments Unrestrlrted funds 20Z4 Unrestricted funds 2023 Gainslllossesl arising on,, Revaluation of investments 2,218 3,021 14 Taxation The charity is exempt from taxation on its activities because all its income is applied for chariiable purposes. 15 Tangible fixed asset5 FreehDld land on•kMresan1 ntrinp MDtor¥ehl<lei Cost Al I September 2023 Additions Disp05a15 1,795,559 38,801 245,288 750 157,818 2,198.665 39.551 116,5001 116,5001 At 31 August 2024 1,834,360 246,038 141,318 2,221.716 Depreciation and impairment At I September 2023 Depreciation charged in the year Eliniiiiaid iii respLL of di5pusals 745,026 36,600 218,S23 6,663 10S,S03 12,461 16,9881 1,069.052 55.724 16,9881 At 31 August 2024 781,626 225,186 110,976 1.117,788 CarrySn8 amount At 31 August 2024 1.052,734 20,852 30,342 1,103.928 At 31 Au8USt 2023 1,050,533 26,76S 52,31S 1,129,613 21
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 16 Flxed asset Investments L15ted investments Cost or valuation At I September 2023 Additions Valuation changes 104,560 iO,(KJ) 2,218 At 31 August 2024 116.778 Carryin8 amount At 31 August 2024 116,778 At 31 August 2023 104,560 2024 2023 Investments at fair value comprise,. Unil Trust investment 116,778 104,560 2024 2023 Listed invèstments Included above.. Listed investments carrying amount 116,778 104,560 17 Debtors 2024 2023 Amount5 falllng due wlthln one year: Trade debtors Prepayments and accrued income 152,787 63.444 239,444 55.376 216.231 294,820 Prepayments and accrued income includes the Licence for Pemberton Road lasting IS years. The current value of the lease is £6,58312023', £7,5831 for a remaining 7.6years. The accrued income element compri5e5 £17,049 12023 £15,883). -22-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 18 Loans and overdrafts 2024 2023 Bank loans 2.308 Payable within one year 2,308 The above bank loan was entered into by the Charity in August 2018. rith Lloyds bank. The loan was to be repaid in equal monthly inslalments over 7 years on which interest is paid at a rate of 2% over the bank ol England base rate. The loan wa5 fully repayable by September 2023, The loan was secured by way of a fixed and Iloatln8 char8e over the Charlty's a55el5. 19 Credltors: amounts falllng due wlthln one year 2024 2023 Notes Bank loans 18 2,308 12.344 160,875 34,154 623 Other taxation and social security Deferred incorne 13,838 14,625 50,122 450 rrade credltors Other creditors Accruals 13,529 9.512 92,564 219.816 Deferred Income relates to Central Panel Place5 income allocated to Schoo15 and Counci15 which was receivable in advance ol the adeMiC year. Such intome will be released to the Statement of Financial Activities during the course ol the academic year that it relates to. 20 Retlrement beneflr s¢heMe$ Defined coniribytion schemes The Charity operates a defined contribvtion pension scheme for all qualifying ernployees. The assets of the scheme are held separately from those of the Charity Sn an independently administered fund. The charge to Ihp Statewent ol Financial Activitie5 in respect ot defined contributlQll 5cheme5 was £24,79112023- £39,Q651. Expenses and liabilities relaiing to the defined contribution scheme are allocated between restricted and unrestricted funds based on the activilies underlaken by each member of staff to whom the pension tontributions relate. -23-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 21 Restrfcted funds The restricted funds of the charity comprise the unexpended balances of donations and Brunt5 held on trust Subject to specific condition5 by donors as to how they may be used. At I September 2023 Resources expended At 31 August 2024 437,275 6,540 8,100 113,1831 424,092 6,540 8,100 Equlpment Property Alterations 451,915 113.1831 438,732 Previou5 year: At I Septèrnber 2022 Rewurces expended At 31 Au8USt 2023 Equipment Giftolland 31,840 135,000 299,715 16,5401 25,300 135.0 291,615 Property Alterations 18,IDDI 466,555 114,6401 451.915 -24-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 21 Resrrfcted funds Icontlnuedl The specific purposes for which the funds are to be applied are as follows.. Equlpment The equipment fund relates to equiprnent. including vehicles, purchased for specific tkufposes as designated by funders. rhe balance af thi5 fund correlates to the net book value of assets purchased. Glft of Land The13nd which included ancient woodlands, had been given to a551St wth the provision of the Charity's activitie5. However, problems with trespassing and vandalism meant the Charity needed to sell and reinvest the funds frorm the Sift. The Charity has obtained a licence to Use the land for 50rne of its activitie5. Property Aherations The Property Alterations fund relate5 to grants received solely for the purpose of improving and altering the Charity's properties. The balance of this fund correlates to the net book value of property improvements and alteration5 made. Durham Works Durlidm W¢Jrks Flnishing Touches is a project looking at sell-development and Increaslng life sk1115 for young peoplé a¢r055 the Durham area, The staff are based in the Hub at Roseberry Terrace. This is an E5F funded provision and overs activities within the Youlh Employment Initlative working in partnership for Durham Work5. Loiiery Funds The lottery fund relates to grants awarded by the the Lottery for specific expenditure. Other Restrlct•d fund$ Grants received from miscdlaneous funders to be used by the charlty lor speciflc purposes as set out by the funder. 22 Unrestrlcted funds The unrestricted funds of the charity cc*mprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and graniors a5 to how they may be used. These Include designated funds which have been set aside out of unrestricted funds by the trustees for specitic purposes. At I September 2023 Incornlng resource5 R•sourcesGalns and losses expended At 31 August 2024 General funds 1,270.701 1,619,268 11,788,454) 2.218 1,103,733 -25-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 22 Unrestrlrted funds Icontlnuedl Previous year.. At I Septemb• 2022 Incomin8 resources ResourcesGains and losses expended At 31 Au8USt 2023 General funds 1,397,507 1,500,286 11,684,601) 3,021 1,216,213 23 Analysis of net assets between funds Uncestricted Rejtricted Total funds fund5 2024 2024 2024 At 31 AuEUSt 2024: Tangible assets Investments 665,196 116,778 321,759 438,732 1,103.928 116,778 321,759 Current assets/lliabilitSesl 1,103,733 438,732 1,542.465 Unresirl¢ied Restrlrted Total fund$ 2023 funds 2023 2023 At 31 August 2023: Tangible a55ets Investments 677,698 104,560 488,443 451,915 1,129.613 104,$60 488,443 Current assets/lliabS1itiesl 1.270,701 451,915 1,722,616 24 Capital commitrnent5 2024 2023 Amounts contrarted lor but not provided in the financial statements.. 2024 2023 Acqui51tion of property, plant and equipment 37,5 -26-
DELTA- NORTH CONSE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU5T2024 25 Related party transactlons The charity did not enter into uny other tranJaCtion5 Wlth related partieu during the current or prior period. 26 Cash generated from op•ratlons 2024 2023 Deficii for the year 1180,1511 1195.9341 Adju5tment5 for.. Invesiment income recognised in statement of financial activifies Loss on disposal of tangible fixed assets Fair value gains and losse5 on investrnents Depreclation and Impairment of tangible flxed assets 1321 2,582 12,2181 55,724 1131 13,0211 60,237 Movements In working caprtal.. Iin¢reosel/decrease in stocks Decreasellincreasel in debrors Increa5e/ldecre35el in creditors IDecreasel/in¢rease in deferred income 47 78,589 21,306 1146,2501 (l53,f1) 113,0131 160,875 Cash absorbed by operat10rn5 1170,4501 1144,4231 27 Analysls ol Changes In net lunds Ai I1mrIc25 Cish Al )I Av8UII 2024 Cash at bank and in hand 413,439 1215,3471 198,C82 Loans falling due within one year 12.3081 2,308 411,131 1213,0391 198,IY42 -27-
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