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← New Community Network

2024-08-31-accounts

Charity Registration No. 1072645

Company Registration No. 03578938 (England and Wales)

NEW COMMUNITY NETWORK

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

NEW COMMUNITY NETWORK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr C N D Romilly
Mr A Sheen
Mrs K Swift
Mr J Cathie
Mr J Sargent
Ms S E Chart
Charity number 1072645
Company number 03578938
Principal address Central Hall
St Mary Street
Southampton
Hants
SO14 1NF
Registered office Central Hall
St Mary Street
Southampton
Hants
SO14 1NF
Auditor Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers Barclays Bank PLC
Hatton Garden Business Centre
99 Hatton Garden
London
EC1N 8DN
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Blake Morgan
New Kings Court
Tollgate
Chandler's Ford
Eastleigh
Hampshire
SO53 3LG

NEW COMMUNITY NETWORK

CONTENTS

Page
Trustees' report 1-4
Statement of trustees' responsibilities 5
Independent auditor's report 6-8
Consolidated statement of financial activities 9-10
Charity statement of financial activities 11-12
Consolidated and charity statements of financial position 13
Consolidated statement of cash flows 14
Notes to the financial statements 15-31

NEW COMMUNITY NETWORK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2024

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objectives of the charity are:

The Trustees have considered and have had due regard to the Commission’s guidance on public benefit and, in particular, the specific guidance on activities for the advancement of religion.

The Trustees are satisfied that the objectives of the Charity have been met, and that appropriate procedures and controls are in place to ensure continued operation.

Grant making policy

The charity is not primarily a grant making charity and does not solicit applications from organisations or individuals. We will from time to time make grants from our own funds or specifically raise funds for projects undertaken by other organisations. This would normally be in a geographical location and for a purpose we cannot undertake ourselves e.g. international crisis relief.

We will also make small grants to individuals with whom we have personal contact to enable them to achieve one of our charitable objectives. All grants are monitored to ensure they are used for the purpose that they are given.

Grants made during the year amounted to £124,446 (2023: £128,401) and were made up of £48,112 of grants to individuals (2023: £35,862) and £76,334 of grants to institutions (2023: £92,539). An analysis of institutional grants made above £10,000 is provided in note 10 in the accounts.

Achievements and performance

New Community Church’s expressions of church at both Central Hall and in the Sholing area of Southampton continued to meet throughout 2023/24.

These congregations have continued to be supported by a wide variety of small group activities throughout the week including Alpha courses for those exploring faith, group activities for young people, Zoom prayer meetings and learning opportunities for those who want to study in more depth.

School of Ministries was our teaching and training programme which developed and trained leaders in Christian ministry, working mainly in developing countries where leaders would be unable to attend traditional training establishments We have now transferred this work to the Pioneer Trust (Charity No. 1118766) as they are better able to manage the programme through their international work.

Advance Education

We continue to partner with New Generation Schools Trust to deliver primary education through Hope Community School. The school are currently tenants of Central Hall as a temporary site whilst permanent facilities are being built nearby. A new site for the school has been secured and plans are underway to design, plan and build. The planned opening date of September 2025 will be missed and we expect Hope school to be tenants of Central Hall for at least another year.

As a church we have an agreement to provide governance, chaplaincy, volunteers and wrap-around services to the school.

NEW COMMUNITY NETWORK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Promote Creative Arts

We have provided a supportive environment for artists, singers, and musicians. Local orchestras, bands, and choirs regularly use Central Hall as a performance venue. These are booked through our trading subsidiary, New Community Ventures, which has seen a growing momentum of bookings through 2023/24.

Relief of the poor and those in need, hardship or distress

Our ‘Community Hub’ at Central Hall, which provides an umbrella for the various caring initiatives that we operate has continued to function throughout the year, with an increase in the numbers attending. We have been able host a variety of groups - including, Creative English classes, Community Café, and Warm Space with up to 100 guests.

Through the work of our Hope Community School chaplain, we have supported children and families from the local area with targeted educational and practical support. The Baby Branch has continued to operate, providing baby clothes and equipment to parents in need. We have also been able to provide local community members with food through a weekly Fare Share operation.

We have continued to support the work of the Kibera Saints and Umoja group in Kibera, Kenya. We have also been able to sponsor other relief projects in Kenya and India.

Financial review

The principal funding sources for the Charity are voluntary donations and income from hire of facilities. These funds are used to operate the church congregations and projects with a Christian ethos.

Voluntary giving increased to £528,520 (2023: £487,425). Unrestricted voluntary income, which includes donations and related tax recovered, was £544,054 (2023: £493,427) and restricted voluntary income £82,183 (2023 - £90,016).

The Consolidated Statement of Financial Activities reports an overall surplus of £76,430 (2023: surplus of £62,605) for the year. However, this includes a depreciation charge, which is a non-cash item, of £49,900 (2023: £48,560).

Capital expenditure in the year was £19,347 (2023: £4,660).

The balance outstanding on our bank loan as at the end of the financial year was £231,773 (2023: £262,261). New Community Ventures Ltd (NCV) made a profit of £166,811 (2023: £193,573).

Total funds held as at 31 August 2024 were £1,360,127 (2023: £1,283,697), of which £184,514 (2023: £222,585) were restricted, and £1,175,613 (2023: £1,061,112) were unrestricted.

Reserves policy

The board of trustees has examined the charity’s requirements for reserves in the light of the main risks to the organisation and has decided that the established reserves policy needed to be changed in the knowledge that Hope School would be vacating the building at some time in the next year or so. The established policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be kept to the lowest possible figure, has been changed such that the charity will intentionally reduce expenditure in order that reserves can be increased to cover a temporary loss of income from when Hope School move to their new premises. The board of trustees consider that they would be able to continue the current activities of the charity for a sufficient period to allow New Community Ventures to build up income from other tenants of Central Hall, this being the main risk to the charity’s income in the near future.

The group free reserves (defined as the unrestricted net current assets of the group) at 31 August 2024 were £264,262 (2023: £152,567).

Investment policy

The board of trustees has considered the most appropriate policy for investing the charity’s short-term funds and has found that interest bearing current accounts and deposit accounts, designed for the charity sector, meet their requirements to generate a reasonable return with security of capital and ease of access as projects develop. The board of trustees considers the return on investments to be adequate. The charity has no long-term cash investments.

NEW COMMUNITY NETWORK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

We have benefited significantly from the use of Central Hall by Hope Community School over the past 7 years. The school has now purchased a site on which to build a new school facility. This will mean that the current licence agreement will come to an end in September 2025. It is expected that this licence will be extended.

Structure, governance and management

Governing document

New Community Network is a charitable company limited by guarantee, incorporated on 10 June 1998 as The Cornerstone Network and registered as a charity on 30 November 1998. The name was changed to New Community Network at an Extraordinary General Meeting held on 19 September 2005.

The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association which was amended by special resolution on 29 March 2022.

New Community Ventures Limited

New Community Ventures Limited is a private company limited by shares, incorporated on 27 January 2017. New Community Network owns the entire share capital.

Recruitment and appointment of board of trustees

Trustees are normally, but not exclusively, recruited from the members of the charity who are all fully supportive of our aims and practically involved in the work of the charity. We aim to keep a balance of skills and backgrounds to facilitate the efficient functioning of the group. A comprehensive package of training utilising Charity Commission publications and other materials is provided to ensure that trustees are aware of their responsibilities and the hallmarks of good governance. Under the requirements of the Memorandum and Articles of Association one third of the members of the board of trustees must retire each year at the AGM.

Organisational structure and decision making processes

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr C N D Romilly Mr A Sheen Mrs K Swift Mr J Cathie Mr J Sargent Ms S E Chart

Membership – The Charity Members form a panel of reference for the full time staff and volunteers. They meet formally at the Annual General Meeting and appoint the trustees.

Board of Trustees – The Trustees meet once per quarter to review progress against activities planned and set budgets for the year. Individual trustees work closely with staff to ensure best practice is applied and good governance is maintained.

Leadership Team – The Leadership Team meet weekly to oversee the day to day running of the organisation, assess the effectiveness of the various teams and manage the budget.

The pay and remuneration of the Charity’s key management personnel are set by benchmarking against equivalent roles in similar organisations in the charity sector. They are reviewed annually and are subject to individual and company performance.

NEW COMMUNITY NETWORK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Risk management

The Board of Trustees has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects, and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Auditor

In accordance with the company's articles, a resolution proposing that Caladine Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees 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 steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

.............................. Mr C N D Romilly CMY Chair of Trustees Dated: ......................... 03/02/2025

NEW COMMUNITY NETWORK

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2024

The trustees, who are also the directors of New Community Network for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW COMMUNITY NETWORK

Opinion

We have audited the financial statements of New Community Network (the 'parent charitable company') and its subsidiary together (the 'group') for the year ended 31 August 2024 which comprise the group and parent charitable company statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 31 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW COMMUNITY NETWORK

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the 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 for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters 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 so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material 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 (UK) will always detect a material misstatement when it exists. Misstatements 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW COMMUNITY NETWORK

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions;

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims; and reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Mr Colin James Dadswell FCCA (Senior Statutory Auditor) for and on behalf of Caladine Limited

13 March 2025 .........................

Chartered Certified Accountants Statutory Auditor

Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
Expenditure on:
Raising funds
8
Charitable activities
9
Other
12
Total resources expended
142,635
Net incoming resources
before transfers
Gross transfers between funds
22
Fund balances at 1 September 2023
Fund balances at 31 August 2024
2,175
-
Unrestricted
£
£
funds
22,381

-
-

136,882
1,037,583
(60,452)
(22,381)
1,061,112
222,585
1,175,613
184,514
Net income/(expenditure) for the
year/Net movement in funds
114,501
(38,071)
Total income
1,174,465
82,183
-
521,907
142,635
515,676
-
1,557
-
601,550
Restricted
Income and endowments from:
21,829
-
547,354
82,183
funds		 2,175
1,209
£
£
-
-
-
82
1,180,218
1,154,440
76,430
62,605
1,283,697
1,221,092
1,360,127
1,283,697
76,430
62,605
1,256,648
1,217,045
589,122
601,550
672,875
664,542
515,676
481,483
1,557
-
Total
21,829
43,271
629,537
583,443
Total
2024
2023

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted Restricted Total
funds funds 2023
Notes £ £ £
Income and endowments from:
Donations and legacies 3 493,427 90,016 583,443
Charitable activities 4 43,271 - 43,271
Other trading activities 5 589,122 - 589,122
Investments 6 1,209 - 1,209
Total income 1,127,029 90,016 1,217,045
Expenditure on:
Raising funds 7 481,483 - 481,483
Charitable activities 8 514,013 158,862 672,875
Other 11 82 - 82
Total resources expended 995,578 158,862 1,154,440
Net incoming resources
before transfers 131,451 (68,846) 62,605
Gross transfers between funds 22 (11,444) 11,444 -
Net income/(expenditure) for the
year/Net movement in funds 120,007 (57,402) 62,605
Fund balances at 1 September 2022 941,105 279,987 1,221,092
Fund balances at 31 August 2023 1,061,112 222,585 1,283,697

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEW COMMUNITY NETWORK

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2024

Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
Expenditure on:
Raising funds
Charitable activities
Other
Total resources expended
604,044
142,635
Net incoming resources
before transfers
Gross transfers between funds
Fund balances at 1 September 2023
Fund balances at 31 August 2024
£
£
Restricted
Unrestricted
funds
funds
Income and endowments from:
1,200 -
705,235
82,183
21,829 -
Total income
731,997
82,183
Net income for the year/
- -
22,381

(60,452)
(22,381)
127,953
Net movement in funds
105,572
(38,071)
1,055,079
222,585
1,160,651
184,514
1,865 28.00
2,175 -
1,558 -
602,179
142,607		 43,271
777,004
Total
Total
2024
2023
£
£
21,829
1,200
787,418
-
82
746,679
760,091
-
-
67,501
62,593
67,501
62,593
1,277,664
1,215,071
1,345,165
1,277,664
1,200
1,893
1,782
2,175
822,684
814,180
1,558 -
744,786
758,227
1,209

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEW COMMUNITY NETWORK

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted Restricted Total
funds funds 2023
£ £ £
Income and endowments from:
Donations and legacies 686,988 90,016 777,004
Charitable activities 43,271 - 43,271
Other trading activities 1,200 - 1,200
Investments 1,209 - 1,209
Total income 732,668 90,016 822,684
Expenditure on:
Raising funds 1,782 - 1,782
Charitable activities 599,365 158,862 758,227
Other 82 - 82
Total resources expended 601,229 158,862 760,091
Net incoming resources
before transfers 131,439 (68,846) 62,593
Gross transfers between funds (11,444) 11,444 -
Net income for the year/
Net movement in funds 119,995 (57,402) 62,593
Fund balances at 1 September 2022 935,084 279,987 1,215,071
Fund balances at 31 August 2023 1,055,079 222,585 1,277,664

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEW COMMUNITY NETWORK

STATEMENTS OF FINANCIAL POSITION

AS AT 31 AUGUST 2024

Group Group Charity Charity
2024 2023 2024 2023
Notes £ £ £ £
Fixed assets
Property, plant and equipment 14 1,107,438 1,138,200 1,092,766 1,133,015
Investments 15 - - 1,000 1,000
1,107,438 1,138,200 1,093,766 1,134,015
Current assets
Inventories 1,008 1,008
-		 - -
Trade and other receivables 16 47,802 60,188 46,939
55,406		 46,939
Investments 17 300,036 300,036
-		 300,036 -
Cash at bank and in hand 246,173 436,771 154,221 394,697
595,019 497,967 509,663 441,636
Current liabilities 18 (146,243) (122,815) (62,177) (68,332)
Net current assets 448,776 375,152 447,486 373,304
Total assets less current liabilities 1,556,214 1,513,352 1,541,252 1,507,319
Non-current liabilities 19 (196,087) (229,655) (196,087) (262,261)
Net assets 1,360,127 1,283,697 1,345,165 1,245,058
Income funds
Restricted funds 22 184,514 222,585 184,514 222,585
Unrestricted funds 1,175,613 1,061,112 1,160,651 1,055,079
1,360,127 1,283,697 1,345,165 1,277,664

The financial statements were approved by the Trustees on ….............................. 3 February 2025

Mr C N D Romilly 4 Chair of Trustees

Company Registration No. 03578938

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash generated from operations
26
Investing activities
Purchase of property, plant and equipment
Proceeds on disposal of property, plant and equipment
Purchase of current asset investments
Income from investments
Net cash used in investing activities
Financing activities
Repayment of other borrowings
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
£
£
£
155,331
108,939
(4,660)
1,767
-
2,175
1,209
(3,451)
-
-
(30,488)
(279,908)
(30,488)
(279,908)
(190,598)
(174,420)
436,771
611,191
246,173
436,771
2024
2023
(19,347)
(315,441)
(300,036)

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Company information

New Community Network is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Central Hall, St Mary Street, Southampton, Hants, SO14 1NF.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The group financial statements include the accounts of New Community Network (the charity) and its subsidiary New Community Ventures Limited.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted 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 conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Other trading income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies (Continued)

1.5 Expenditure

Liabilities are recognised when a constructive obligation exists, the payment is probable and the obligation can be measured or estimated reliably.

Resources expended are allocated to the particular cost centre to which they relate and include irrecoverable VAT.

Grants payable are charged in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost , net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings 50 years straight line Plant and equipment 5 - 10 years straight line Fixtures and fittings 5 - 10 years straight line Computers 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Items of equipment are capitalised where the purchase price exceeds £1,000.

1.7 Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.9 Inventories

Inventories are stated at lower of cost and estimated selling price less costs to sell.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies (Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is 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 termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Grants
82,183
547,354
493,427
90,016
Gift aid
84,410
11,608
Donations and gifts 2023
Donations and gifts
409,017
78,408
453,107
75,413
90,947
6,770
544,054
82,183
Donations and gifts 2024
Donations and gifts
Gift aid
544,054
82,183
Donations and gifts
£
£
3,300
-
Unrestricted
Restricted
funds
funds		 3,300

629,537
528,520
97,717
626,237
626,237
£
Total
2024		 -
£
583,443
Total
2023
583,443
487,425
96,018
583,443

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

4 Charitable activities 2024

4 Charitable activities 2024
Unrestricted Restricted
funds funds Total 2024 Total 2023
£ £ £ £
Fee income 21,829 - 21,829 43,271
Charitable activities 2023
Unrestricted Restricted
funds funds Total 2023
£ £ £
Fee income 43,271 - 43,271
5 Other trading activities 2024
Unrestricted Restricted
funds funds Total 2024 Total 2023
£ £ £ £
Rental and hire charges 601,550 - 601,550 589,122
Other trading activities 2023
Unrestricted Restricted
funds funds Total 2023
£ £ £
Rental and hire charges 589,122 - 589,122

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

6 Investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 2,175 1,209

7 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of tangible fixed assets 1,557 -
Raising funds 2024
Unrestricted Restricted
funds funds Total 2024 Total 2023
£ £ £ £
Trading costs
Staff costs 177,213 - 177,213 158,073
Cost of trading subsidiaries 45,073 - 45,073 37,369
Building costs 103,964 - 103,964 78,478
Communications 2,829 - 2,829 2,973
Finance costs 759 - 759 878
Resource costs 74,892 - 74,892 99,502
Depreciation 4,295 - 4,295 2,910
Support costs (see note 11) 106,651 - 106,651 101,300
515,676 - 515,676 481,483
Raising funds 2023
Unrestricted Restricted
funds funds Total 2023
£ £ £
Trading costs
Staff costs 158,073 - 158,073
Cost of trading subsidiaries 37,369 - 37,369
Building costs 78,478 - 78,478
Communications 2,973 - 2,973
Finance costs 878 - 878
Resource costs 99,502 - 99,502
Depreciation 2,910 - 2,910
Support costs (see note 11) 101,300 - 101,300
481,483 - 481,483

8 Raising funds 2024

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

9 Charitable activities

Staff costs
Counselling, events, courses and community work
Analysis by fund
Unrestricted funds
Restricted funds
10
Grants payable
Grants to institutions:
Umoja
Jeevan Asha
Pioneer Trust
Missionary Maintenance Services
Other grants below £10,000
Grants to individuals
Grant funding of activities (see note 10)
Share of support costs (see note 11)
Share of governance costs (see note 11)		 £
521,907
142,635
2024
£
9,197
4,000
25,211
4,000
33,926
48,112
285,093
347,627
664,542
664,542
2024
62,534
124,446
124,446
171,577
20,892
76,334		 £
253,792
2023
104,756
358,548
128,401
162,558
23,368
672,875
514,013
158,862
672,875
2023
£
11,848
20,800
17,471
12,000
30,420
35,862
92,539
128,401

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

11 Support and governance costs 2024

Staff costs
Depreciation
Counselling, events, courses and community work
Finance costs
Insurance costs
Resource costs
Other costs
Audit fees
Accountancy
Other financial services
Legal and professional
Analysed between
Raising funds
Charitable activities
Support and governance costs 2023
Staff costs
Depreciation
Counselling, events, courses and community work
Finance costs
Insurance costs
Resource costs
Other costs
Audit fees
Accountancy
Legal and professional
Analysed between
Raising funds
Charitable activities		 £
£
£
£
-
45,605
-
45,605
12,483
-
12,483
21,933
-
21,933
16,964
-
16,964
-
18,507
-
18,507
-
5,700
5,700
-
5,335
5,335
-
8,880
8,880
-
977
977
-
£
£
£
-
-
-
-
-
-
-
4,890
5,940
12,538
-
18,625
106,651
134,875
134,875
127,768
278,228
20,892
299,120
299,764
106,651
Support
costs
Governance
costs
Total 2023
Total 2023
Governance
costs
127,768
171,577
20,892
192,469
278,228
20,892
299,120
27,861
27,861
18,625
45,650
22,262
18,625
127,768
Support
costs
Total 2024
45,650
22,262
25,453
11,373
287,226
263,858
23,368
287,226
162,558
23,368
185,926
101,300
101,300
263,858
23,368
12,727
-
-
-
45,650
22,262
25,453
11,373
12,727
4,890
5,940
12,538
5,940
12,538
25,453
11,373
12,727
4,890
12,538		 £
£
£
£
-
45,605
-
45,605
12,483
-
12,483
21,933
-
21,933
16,964
-
16,964
-
18,507
-
18,507
-
5,700
5,700
-
5,335
5,335
-
8,880
8,880
-
977
977
-
£
£
£
-
-
-
-
-
-
-
4,890
5,940
12,538
-
18,625
106,651
134,875
134,875
127,768
278,228
20,892
299,120
299,764
106,651
Support
costs
Governance
costs
Total 2023
Total 2023
Governance
costs
127,768
171,577
20,892
192,469
278,228
20,892
299,120
27,861
27,861
18,625
45,650
22,262
18,625
127,768
Support
costs
Total 2024
45,650
22,262
25,453
11,373
287,226
263,858
23,368
287,226
162,558
23,368
185,926
101,300
101,300
263,858
23,368
12,727
-
-
-
45,650
22,262
25,453
11,373
12,727
4,890
5,940
12,538
5,940
12,538
25,453
11,373
12,727
4,890
12,538
287,226
185,926
101,300
287,226

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

12 Other

12
Other
Net loss on disposal of tangible fixed assets
13
Employees
Number of employees
The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension and life insurance costs		 2024
£
-
26
26
2024
£
36,255
27,854
533,072
597,181
2024
Number		 2023
£
82
27
2023
Number
27
2023
£
497,774
27,529
14,330
539,633

No employee earned more than £60,000 during the year (2023: none).

14 Property, plant and equipment

Cost
At 1 September 2023
Additions
Disposals
At 31 August 2024
Depreciation and impairment
At 1 September 2023
Depreciation
Eliminated in respect of disposals
At 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023



 £
£
£
£
£
-
3,558
2,006
-
-
-
(4,907)
(4,907)
41,163
3,151
3,373
2,213
49,900
-
-
-
(4,698)
(4,698)
6,157
3,982
1,124,754
3,307
1,138,200
1,083,591
6,564
13,717
3,566
1,107,438
974,568
158,313
82,047
12,219
1,227,147
933,405
155,162
78,674
14,704
1,181,945
2,320,145
13,783
19,347
2,058,159
164,877
95,764
15,785
2,334,585
Freehold
land and
buildings
Plant and
equipment
Fixtures and
fittings
Computers
Total
2,058,159
161,319
81,981
18,686

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

15 Fixed asset investments - see note 25

Investments in subsidiaries
Cost
At 1 September 2023 & 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023		 £
-
-
-
Group		 £
1,000
Charity
1,000
1,000
16
Trade and other receivables
Amounts falling due within one year:
Amounts owed by subsidiary undertakings
Trade receivables
Other receivables
Prepayments and accrued income		 £
£
-
-
29,977
29,900
7,452
8,268
10,373
22,020
2024
2023
Group
47,802
60,188		 £
£
-
435
7,452
8,268
1,477
-
2024
2023
Charity
55,406
46,939
38,236
46,477

17 Current asset investments

Fixed rate cash deposits
Current liabilities
Notes
Bank loans
20
Other taxation and social security
Deferred income
Trade payables
Other creditors
Accruals and deferred income		 £
£
£
£
35,686
21,892
49,835
24,384
1,958
12,488
2024
2023
2024
2023
300,036
-
146,243
122,815
21,404
31,118
22,205
Group
964
14,518
32,606
Group		 £
£
£
£
35,686
32,606
10,627
15,097
-
-
5,780
9,690
-
-
10,939
2024
2023
2024
2023
300,036
-
62,177
10,084
68,332
Charity
Charity

18 Current liabilities

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

19 Non-current liabilities

Notes
Bank loans
20
20
Borrowings
Bank loans
Payable within one year
Payable after one year
Amounts included above which falls after five years:
Payable by instalments		 £
£
£
£
35,686
32,606
196,087
262,261
2024
2023
Group
196,087
229,655
22,419
69,951
231,773
262,261
2024
2023
231,773
262,261
Group		 £
£
£
£
35,686
32,606
196,087
262,261
2024
2023
Charity
196,087
229,655
22,419
69,951
231,773
262,261
2024
2023
231,773
262,261
Charity		 £
£
£
£
35,686
32,606
196,087
262,261
2024
2023
Charity
196,087
229,655
22,419
69,951
231,773
262,261
2024
2023
231,773
262,261
Charity
32,606
229,655
262,261
69,951

The mortgage is secured on the property at Central Hall, St Mary Street, Southampton, SO14 1NF.

21 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £27,854 (2023: £14,330).

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

22 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at 1
September Incoming Resources Balance at 31
2023 resources expended Transfers August 2024
£ £ £ £ £
Relief International:
Jeevan Asha 14,711 10,585 (8,033) - 17,263
Kibera development 1,548 20,514 (24,657) 7,500 4,905
Missionary maintenance
services 10,116 13,708 (4,032) - 19,792
School of ministry 3,134 23,451 (32,966) 6,381 -
Relief local:
Central hall fund 1,301 - (1,301) - -
Hardship fund 1,552 669 (259) 1,000 2,962
Rest and recoup fund 159,503 - (30,762) - 128,741
SO14 Mission fund 16,678 - (12,754) - 3,924
Special Guardians 357 - (357) - -
Heat & Eat Response fund 5,407 2,084 (5,439) 1,500 3,552
Cuban Family Support 6,279 7,185 (19,464) 6,000 -
Next Generation Development - 2,400 - - 2,400
Minor restricted funds 1,999 1,587 (2,611) - 975
222,585 82,183 (142,635) 22,381 184,514

Relief International

Jeevan Asha - Indian orphanage.

Kibera Development - Funding a school build and missionary work in Kibera. Missionary Maintenance Services - Support for D & D Coates USA.

School of Ministry - Leadership development.

Relief local

Central Hall fund - To fund ongoing renovation works to Central Hall.

Hardship fund - Local relief work.

Rest and recoup fund - To provide a place for rest, recovery and convalescence. SO14 Mission fund- To fund mission in Central Southampton.

Special Guardians - Support grandparents who are primarily carers for their grandchildren.

Heat & Eat Response fund - supporting individuals affected by the cost of living crisis.

Next Generation Development fund - fund to support and develop our next generation of young people and children.

Transfers represent the reallocation of income and expenditure between funds.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

22 Restricted funds 2023

Movement in funds Movement in funds
Balance at 1
September Incoming Resources Balance at 31
2022 resources expended Transfers August 2023
£ £ £ £ £
Relief International:
Jeevan Asha 21,354 9,422 (16,065) - 14,711
Kibera development 6,266 11,695 (22,413) 6,000 1,548
Missionary maintenance
services 10,240 11,973 (12,097) - 10,116
School of ministry 6,219 24,260 (32,349) 5,004 3,134
Relief local:
Central hall fund 2,216 281 (1,196) - 1,301
Hardship fund 299 2,738 (1,485) - 1,552
Rest and recoup fund 202,350 - (34,847) (8,000) 159,503
SO14 29,858 - (13,180) - 16,678
Special Guardians 357 - - - 357
Heat & Eat Response fund - 9,483 (4,076) - 5,407
Cuban Family Support - 14,531 (16,252) 8,000 6,279
Minor restricted funds 828 5,633 (4,902) 440 1,999
279,987 90,016 (158,862) 11,444 222,585

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

23 Analysis of net assets between funds
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 31 August 2024 are represented by:
Property, plant and equipment 1,107,438 - 1,107,438
Current assets/(liabilities) 264,262 184,514 448,776
Long term liabilities (196,087) - (196,087)
1,175,613 184,514 1,360,127
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 31 August 2023 are represented by:
Property, plant and equipment 1,138,200 - 1,138,200
Current assets/(liabilities) 152,567 222,585 375,152
Long term liabilities (229,655) - (229,655)
1,061,112 222,585 1,283,697

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

24 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024 2023
£ £
156,574 128,949

The trustees and their close family or associated companies have donated an aggregate sum of £55,306 (2023: £61,057) to the charity.

Transactions with group companies

New Community Network was owed £46,477 (2023: £38,236) from New Community Ventures Limited at 31 August 2024.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

25 Subsidiary undertakings

New Community Ventures Limited (no. 10586696) is a wholly owned trading subsidiary of New Community Network. It runs Central Hall as an events venue. Below is a summary of its financial results and position.

Gross income
Expenditure
Surplus/(Deficit)
Distributions to parent charity under gift aid
Surplus after distributions
Total assets
Total liabilities
Equity		 2024
£
599,150
(432,339)
15,962
146,505
166,811
(157,881)
8,930
(130,543)		 2023
£
(393,149)
586,722
193,573
(193,561)
12
99,751
(92,719)
7,032

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

26 Cash generated from operations

Cash generated from operations
2024 2023
£ £
Profit/(Deficit) for the year 76,430 62,605
Adjustments for:
Investment income recognised in statement of financial activities (2,175) (1,209)
(Gain)/Loss on disposal of property, plant and equipment (1,557) 82
Depreciation and impairment of property, plant and equipment 49,900 48,560
Movements in working capital:
Decrease/(Increase) in inventories - 118
Decrease/(Increase) in trade and other receivables 12,385 (8,042)
(Decrease)/Increase is trade and other payables 20,348 6,825
Cash generated from operations 155,331 108,939
Analysis of changes in net debt
At 1
September At 31
2023 Cash flows August 2024
£ £ £
Cash at bank and in hand 436,771 (190,598) 246,173
Loans falling due within one year (32,606) (3,080) (35,686)
Loans falling due after more than one year (229,655) 33,568 (196,087)
174,510 (160,110) 14,400

27 Analysis of changes in net debt

28 Non-audit services provided by auditor

In common with many charities of our size and nature we use our auditor to assist with the preparation of the financial statements.