COMPANY REGISTRATION NUMBER: 03445246
CHARITY REGISTRATION NUMBER: 1071422
Constitution Hill Ltd Company Limited by Guarantee Unaudited Financial Statements
31 March 2024
PJE ACCOUNTANTS & ADVISORS
Chartered accountants
23 College Street Lampeter SA48 7DY
Constitution Hill Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 22 |
| Notes to the detailed statement of financial activities | 24 |
Constitution Hill Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name Constitution Hill Ltd Charity registration number 1071422 Company registration number 03445246 Principal office and registered Cliff Terrace office Aberystwyth Ceredigion SY23 2DN
The trustees
R Lewis R Ricketts N Shilton R Gray M Lowe A Davies Independent examiner Catrin Skelton FCCA 23 College Street Lampeter SA48 7DY
Structure, governance and management
The company is limited by guarantee governed by its Memorandum and Articles of Association. It is a registered charity (No. 1071422) with the Charity Commission. The company is managed by the Management Committee who are elected by the members of the Annual General Meeting of the Company. The Management Committee may at any time co-opt up to three persons to the Management Committee. Members of the Management Committee are also appointed as Directors of the Company. The Management Committee meet regularly to manage its affairs. The charity employs a manager, who is also a member, to operate the Cliff Railway.
Objectives and activities
In shaping our objective for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. The Charity relies on income from fees and charges to cover its operating costs. In setting the level of fees, charges and concessions, the trustees give careful consideration to the accessibility of the Cliff Railway for those on low incomes.
- 1 -
Constitution Hill Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities (continued)
Charitable objects
The Charity's object and its principal activity is to advance the education of the public through conservation of the Aberystwyth Cliff Railway for the public benefit and through the encouragement of voluntary work in support of the Aberystwyth Cliff Railway.
Day to day operations
The site is leased from Ceredigion County Council for 99 years from July 1998 at a peppercorn rent. The lease consists of the top and bottom stations with a track on which a funicular railway runs, and the land at the summit on which a Camera Obscura and café is built.
Co-operation with other charities
It is an objective of the charity to co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objects or similar charitable purposes and to exchange information and advice with them.
Achievements and performance
The year to 31 March 2023 much of the building works had been completed. Record takings were generated in the year as holidaymakers boosted the local economy. Much of the attractions provided by Constitution Hill Trading Ltd were open attracting custom. Railway ticket sales increased markedly compared to the previous year £452,408 ( 2023 - £403,642 ). Flat income also increased to £25,304 ( 2023 - £22,668 ).
Wages costs including the manager's wages, and pension contributions being £227,202(2023 - £197,990) are analysed as follows in the financial statements:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Staff costs | - manager's cost (Note 11 Support costs) | 55,779 | 37,532 |
| Staff costs | (Note 13) | 171,423 | 160,458 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total | 227,202 | 197,990 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
Improvements to the public areas continued throughout the year with a total of £79,043 spent(2=3022 - £32,791.33). It is hoped that improvements will lessen in the short-term with no plans of future development projects in the near future.
Risk Management
The trustees continue to monitor the risks to which the charity is exposed. These risks are constantly under review and systems improved to mitigate their possible effects on the charity.
Financial review
During the year under review the charity returned a surplus of £83,690 (2023: net surplus of £150,559) increasing the general fund to £740,439 (2023: £656,749).
Reserves
The charity's policy is to hold at least 3 months running costs in reserve. The Charity is closer to achieving that position during this current trading year.
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Constitution Hill Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Plans for future periods
All the work carried out over the current and previous years has put the charity in good stead for the future. There is no known requirement for any major expenditure at least in the short-term.
All possible legal and health and safety requirements have been adhered to, reducing any possible future litigation issues where possible.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 4 September 2024 and signed on behalf of the board of trustees by:
Robert Gray
Robert Gray (Dec 11, 2024 16:25 GMT)
R Gray Trustee
M J Lowe
M J Lowe (Dec 13, 2024 12:02 GMT)
M Lowe Trustee
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Constitution Hill Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Constitution Hill Ltd
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Constitution Hill Ltd ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), 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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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
-
the financial statements 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.
Catrin M Skelton (Dec 11, 2024 16:27 GMT)
Catrin Skelton FCCA Independent Examiner
23 College Street Lampeter SA48 7DY
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Constitution Hill Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 58,730 | 58,730 | 61,324 |
| Other trading activities | 6 | 452,408 | 452,408 | 403,642 |
| Investment income | 7 | 20,898 | 20,898 | 35,363 |
| Other income | 8 | 25,304 | 25,304 | 22,668 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 557,340 | 557,340 | 522,997 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 9,10 | 480,649 | 480,649 | 372,438 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 480,649 | 480,649 | 372,438 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in funds | 76,691 | 76,691 | 150,559 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 656,749 | 656,749 | 506,190 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 733,440 ৶৶৶৶৶৶৶৶৶ |
733,440 ৶৶৶৶৶৶৶৶৶ |
656,749 ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 20 form part of these financial statements.
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Constitution Hill Ltd
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 16 | 809,535 | 696,114 | |
| Investments | 17 | 2 | 2 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 809,537 | 696,116 | |||
| Current assets | ||||
| Stocks | 18 | 3,000 | 3,000 | |
| Debtors | 19 | 10,247 | 9,644 | |
| Cash at bank and in hand | 13,773 | 41,381 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 27,020 | 54,025 | |||
| Creditors: amounts falling due within one year | 21 | 73,304 | 65,085 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net current liabilities | 46,284 | 11,060 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 763,253 | 685,056 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 22 | 29,813 | 28,307 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 733,440 | 656,749 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 733,440 | 656,749 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 25 | 733,440 | 656,749 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 9 to 20 form part of these financial statements.
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Constitution Hill Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of trustees and authorised for issue on 4 September 2024, and are signed on behalf of the board by:
Robert Gray Robert Gray (Dec 11, 2024 16:25 GMT)
R Gray Trustee
M J Lowe
M J Lowe (Dec 13, 2024 12:02 GMT)
M Lowe Trustee
The notes on pages 9 to 20 form part of these financial statements.
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Constitution Hill Ltd
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net income | 76,691 | 150,559 | |
| Adjustments for: | |||
| Depreciation of tangible fixed assets | 22,987 | 19,144 | |
| Dividends, interest and rents from investments | (20,000) | (35,000) | |
| Other interest receivable and similar income | (898) | (363) | |
| Interest payable and similar charges | 7,521 | 6,057 | |
| Accrued expenses/(income) | 220 | (14,000) | |
| Changes in: | |||
| Stocks | – | (200) | |
| Trade and other debtors | (603) | (3,554) | |
| Trade and other creditors | 6,143 | 6,702 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Cash generated from operations | 92,061 | 129,345 | |
| Interest paid | (7,521) | (6,057) | |
| Interest received | 898 | 363 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net cash from operating activities | 85,438 | 123,651 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Cash flows from investing activities | |||
| Dividends, interest and rents from investments | 20,000 | 35,000 | |
| Purchase of tangible assets | (136,408) | (116,070) | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net cash used in investing activities | (116,408) | (81,070) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Cash flows from financing activities | |||
| Proceeds from borrowings | (28,910) | (30,582) | |
| Proceeds from loans from group undertakings | (7,024) | (2,553) | |
| Payments of finance lease liabilities | 20,295 | – | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net cash used in financing activities | (15,639) | (33,135) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Net (decrease)/increase in cash and cash equivalents | (46,609) | 9,446 | |
| Cash and cash equivalents at beginning of year | 38,311 | 28,865 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Cash and cash equivalents at end of year | 20 | (8,298) ৶৶৶৶৶৶৶৶ |
38,311 ৶৶৶৶৶৶৶৶ |
The notes on pages 9 to 20 form part of these financial statements.
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Cliff Terrace, Aberystwyth, Ceredigion, SY23 2DN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Long Leasehold Property | - | 100 year lease |
|---|---|---|
| Plant and machinery | - | 25% reducing balance |
| Fixtures & Fittings | - | 25% reducing balance |
| Motor Vehicles | - | 25% reducing balance |
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Investments in joint ventures (continued)
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Constitution Hill Ltd is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Gift Aid | 58,730 | 58,730 | 61,324 | 61,324 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Ticket sales | 452,408 ৶৶৶৶৶৶৶৶৶ |
452,408 ৶৶৶৶৶৶৶৶৶ |
403,642 ৶৶৶৶৶৶৶৶৶ |
403,642 ৶৶৶৶৶৶৶৶৶ |
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Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
7.
Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Income from group undertakings | 20,000 | 20,000 | 35,000 | 35,000 | |
| Bank interest receivable | 898 | 898 | 363 | 363 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 20,898 | 20,898 | 35,363 | 35,363 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Rent income | 25,304 | 25,304 | 22,668 | 22,668 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 9. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Charitable Activity | 322,043 | 322,043 | 251,558 | 251,558 | |
| Support costs | 158,606 | 158,606 | 120,880 | 120,880 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 480,649 | 480,649 | 372,438 | 372,438 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| The expenditure incurred was as follows: | |||||
| 10. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2024 | 2023 | |||
| £ | £ | £ | £ | ||
| Charitable Activity | 322,043 | 147,517 | 469,560 | 362,151 | |
| Governance costs | – | 11,089 | 11,089 | 10,287 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 322,043 | 158,606 | 480,649 | 372,438 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 14 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
11. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2024 | Total 2023 | ||
| £ | £ | £ | ||
| Staff costs | 55,779 | 55,779 | 37,532 | |
| Premises | 75,550 | 75,550 | 59,662 | |
| Communications and IT | 7,511 | 7,511 | 7,630 | |
| General office | 8,676 | 8,676 | 5,769 | |
| Finance costs | 7,522 | 7,522 | 6,057 | |
| Governance costs | 3,568 | 3,568 | 4,230 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 158,606 | 158,606 | 120,880 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 12. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 22,987 | 19,144 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| 13. | Independent examination fees | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,020 | 1,800 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 14. | Staff costs |
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Wages and salaries | 210,224 | 176,459 |
| Social security costs | 11,886 | 12,836 |
| Employer contributions to pension plans | 5,092 | 8,695 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 227,202 | 197,990 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 11 (2023: 9). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Number of full time staff | 9 | 9 |
| ৶৶৶৶ | ৶৶৶৶ |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
- 15 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Tangible fixed assets
| Land and | Plant and | Fixtures and | Motor | ||
|---|---|---|---|---|---|
| buildings | machinery | fittings | vehicles | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 April 2023 | 771,706 | 45,369 | 160,318 | 16,794 | 994,187 |
| Additions | 76,721 | 38,184 | 508 | 20,995 | 136,408 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 March 2024 | 848,427 | 83,553 | 160,826 | 37,789 | 1,130,595 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Depreciation | |||||
| At 1 April 2023 | 106,195 | 21,071 | 156,255 | 14,552 | 298,073 |
| Charge for the year | 8,965 | 11,347 | 1,082 | 1,593 | 22,987 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 March 2024 | 115,160 | 32,418 | 157,337 | 16,145 | 321,060 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | |||||
| At 31 March 2024 | 733,267 | 51,135 | 3,489 | 21,644 | 809,535 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| At 31 March 2023 | 665,511 | 24,298 | 4,063 | 2,242 | 696,114 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
The company has a 99 year lease from Ceredigion County Council over the Constitution Hill site which commenced with effect from 1st April 1998. The lease includes the bottom and top stations, track and platforms, camera obscura and café.
The cost is being written off on a straight line basis over the life of the lease.
17. Investments
| Shares in | |
|---|---|
| group | |
| undertakings | |
| £ | |
| Cost or valuation | |
| At 1 April 2023 and 31 March 2024 | 2 |
| ৶৶৶৶ | |
| Impairment | |
| At 1 April 2023 and 31 March 2024 | – |
| ৶৶৶৶ | |
| Carrying amount | |
| At 31 March 2024 | 2 |
| ৶৶৶৶ | |
| At 31 March 2023 | 2 |
| ৶৶৶৶ |
All investments shown above are held at valuation.
- 16 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Investments (continued)
The subsidiary undertaking, Constitution Hill Trading Ltd, is incorporated in England & Wales. The nature of business is a café. Constitution Hill Ltd owns 100% of the ordinary share capital of the company. There was a balance due to Constitution Hill Trading Ltd from the Company at the year end of £8,233 (2023 - £15,257) was due from the Company to Constitution Hill Trading Ltd). A management charge of £20,000 (2023 - £35,000) was levied on Constitution Hill Trading Ltd by Constitution Hill Ltd in the year under review, to cover the cost of the Manager's salary cost to the Company.
| Profit for | |||
|---|---|---|---|
| Capital & reserves | the year | ||
| £ | £ | ||
| Constitution Hill Trading Ltd | 28,094 | 2,642 | |
| 18. | Stocks | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Raw materials and consumables | 3,000 | 3,000 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 19. | Debtors | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 10,247 | 9,644 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| Other debtors consist of: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| VAT repayable | 10,247 | 9,644 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 20. | Cash and cash equivalents | ||
| Cash and cash equivalents comprise the following: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Cash at bank and in hand | 13,773 | 41,381 | |
| Bank overdrafts | (22,071) | (3,070) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| (8,298) ৶৶৶৶৶৶৶৶ |
38,311 ৶৶৶৶৶৶৶৶ |
- 17 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
21. Creditors: amounts falling due within one year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 38,071 | 32,948 | |
| Trade creditors | 14,187 | 12,288 | |
| Amounts owed to group undertakings | 8,235 | 15,259 | |
| Accruals and deferred income | 2,020 | 1,800 | |
| Social security and other taxes | 6,592 | 2,790 | |
| Obligations under finance leases and hire purchase contracts | 4,199 | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 73,304 | 65,085 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Bank loans and overdrafts falling due within one year are made up of: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Nat West loan | – | 12,378 | |
| Co-op Group loan | 6,000 | 7,500 | |
| Nat West 'bounce-back' loan | 10,000 | 10,000 | |
| Barclaycard | 271 | 1,407 | |
| Nat West card | 521 | 1,663 | |
| Nat West Account | 21,279 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 38,071 | 32,948 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 22. | Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 12,408 | 27,440 | |
| Obligations under finance leases and hire purchase contracts | 16,096 | – | |
| Other creditors | 1,309 | 867 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 29,813 | 28,307 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
Bank loans and overdrafts falling due after more than one year are made up of:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Nat West loan | - | 392 |
| Co-op Group loan | - | 4,750 |
| Nat West 'bounce-back'loan | 12,408 | 22,298 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total | 12,408 | 27,440 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
Nat West plc has a legal charge over all the assets of the Company (registered on 3 March 2006).
- 18 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
23. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
| as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Not later than 1 year | 4,199 | – |
| Later than 1 year and not later than 5 years | 16,096 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |
| 20,295 ৶৶৶৶৶৶৶৶ |
– ৶৶৶৶ |
24. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,092 (2023: £8,695).
25. Analysis of charitable funds
Unrestricted funds
| At | |||||
|---|---|---|---|---|---|
| At | 31 | March 202 | |||
| 1 | April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | ||
| General funds | 656,749 | 557,340 | (480,649) | 733,440 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| At | |||||
| At | 31 | March 202 | |||
| 1 | April 2022 | Income | Expenditure | 3 | |
| £ | £ | £ | £ | ||
| General funds | 506,190 ৶৶৶৶৶৶৶৶৶ |
522,997 ৶৶৶৶৶৶৶৶৶ |
(372,438) ৶৶৶৶৶৶৶৶৶ |
656,749 ৶৶৶৶৶৶৶৶৶ |
- 19 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
26. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Tangible fixed assets | 809,535 | 809,535 |
| Investments | 2 | 2 |
| Current assets | 27,020 | 27,020 |
| Creditors less than 1 year | (73,304) | (73,304) |
| Creditors greater than 1 year | (29,813) | (29,813) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 733,440 | 733,440 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 696,114 | 696,114 |
| Investments | 2 | 2 |
| Current assets | 54,025 | 54,025 |
| Creditors less than 1 year | (65,085) | (65,085) |
| Creditors greater than 1 year | (28,307) | (28,307) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 656,749 | 656,749 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
27. Analysis of changes in net debt
| At | |||
|---|---|---|---|
| At 1 Apr 2023 | Cash flows | 31 Mar 2024 | |
| £ | £ | £ | |
| Cash at bank and in hand | 41,381 | (27,608) | 13,773 |
| Bank overdrafts | (3,070) | (19,001) | (22,071) |
| Debt due within one year | (45,137) | 16,703 | (28,434) |
| Debt due after one year | (27,440) | (1,064) | (28,504) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| (34,266) ৶৶৶৶৶৶৶৶ |
(30,970) ৶৶৶৶৶৶৶৶ |
(65,236) ৶৶৶৶৶৶৶৶ |
28. Related parties
The charity holds 100% of the share capital of Constitution Hill Trading Ltd, a company which operates the café on the summit of the hill. None of our trustees receive remuneration or other benefit from their work with the charity.
- 20 -
Constitution Hill Ltd
Company Limited by Guarantee
Management Information Year ended 31 March 2024
The following pages do not form part of the financial statements.
- 21 -
Constitution Hill Ltd
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Gift Aid | 58,730 | 61,324 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Other trading activities | ||
| Ticket sales | 452,408 | 403,642 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Investment income | ||
| Income from group undertakings | 20,000 | 35,000 |
| Bank interest receivable | 898 | 363 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 20,898 | 35,363 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Other income | ||
| Rent income | 25,304 | 22,668 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Total income | 557,340 | 522,997 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Opening stock | 3,000 | 2,800 |
| Closing stock | 3,000 | 3,000 |
| Wages and salaries | 210,224 | 176,459 |
| Employer's NIC | 11,886 | 12,836 |
| Pension costs | 5,092 | 8,695 |
| Rent | 150 | – |
| Rates and water | 4,041 | 1,755 |
| Light and heat | 38,682 | 21,854 |
| Repairs and maintenance | 80,428 | 44,398 |
| Insurance | 40,293 | 30,503 |
| Other establishment | 2,400 | 1,268 |
| Motor vehicle expenses | 6,454 | 16,306 |
| Other motor/travel costs | 104 | 96 |
| Legal and professional fees | 24,642 | 12,129 |
| Telephone | 7,512 | 7,629 |
| Other office costs | 8,676 | 5,769 |
| Depreciation | 22,987 | 19,145 |
| Other interest payable and similar charges | 7,521 | 6,057 |
| Advertising | 6,723 | 5,855 |
| Subscriptions | 2,834 | 1,884 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 480,649 | 372,438 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Total expenditure | 480,649 ৶৶৶৶৶৶৶৶৶ |
372,438 ৶৶৶৶৶৶৶৶৶ |
- 22 -
Constitution Hill Ltd
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net income | 76,691 | 150,559 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 23 -
Constitution Hill Ltd
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Charitable Activity | ||
| Activities undertaken directly | ||
| Opening stock | 3,000 | 2,800 |
| Closing stock | (3,000) | (3,000) |
| Staff wages/salaries | 160,084 | 142,469 |
| Employer's NIC | 6,247 | 9,294 |
| Pensions | 5,092 | 8,695 |
| Rent | 150 | – |
| Rates | 4,041 | 1,755 |
| Repairs & maintenance | 79,043 | 32,791 |
| Cleaning | 4,810 | 4,301 |
| Training | 2,400 | 1,268 |
| Motor vehicle expenses | 6,454 | 16,306 |
| Travel & Subsistence | 104 | 96 |
| Professional fees | 21,074 | 7,899 |
| Depreciation | 22,987 | 19,145 |
| Advertising | 6,723 | 5,855 |
| Subscriptions | 2,834 | 1,884 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 322,043 | 251,558 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Support costs | ||
| Manager's salary | 50,140 | 33,990 |
| Manager's salary - employer's NIC | 5,639 | 3,542 |
| Light & heat | 38,682 | 21,854 |
| Equipment hire | 1,385 | 11,607 |
| Insurance | 35,483 | 26,202 |
| Telephone | 7,512 | 7,629 |
| Other office costs | 8,676 | 5,769 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 147,517 | 110,593 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Governance costs | ||
| Accountancy fees | 3,568 | 4,230 |
| Other finance costs | 7,521 | 6,057 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 11,089 | 10,287 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Expenditure on charitable activities | 480,649 | 372,438 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 24 -