Charity Registratson No. 1075237 Company Registrdtion No. 03484285 (England ond Walesl NORTHERN HULL COMMUNITY DEVELOPMENT LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Fawley Judge & Easton Chartered Certified Accountants 1 Parliament Street Hull East Yorkshire HUI 2AS
NORTHERN HULL COMMUNITY DEVELOPMENT LTD LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Justina Oraka Cllr S Wilson Mrs J Brindley Ms K Y Pickering Mr S Prince Mr D Woods Secretsry Mr LWood5 Charity number 1075237 Company nurnber 03484285 Rggistered office Comunity Resource Centre 501 Endike Lane Hull East Yorkshire England HU6 8AQ Auditor Fawley Judge & Easton Chartered Certified Accountants I Parliament street Hull East YoTk5hire HU12AS
NORTHERN HULL COMMUNITY DEVELOPMENT LTD CONTENTS Page Trustees. report Independent audilorfs report ststement of financial activrties Balance sheet 10 Notes to the financial statements 12-24
NORTHERN HULL COMMUNITY DEVELOPMENT LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees. present their report and the financial statements of Ihe charity for the year ended 31 March 2017 The accounts have been prepared in accordan with the a¢cA)unting policies set out in note 1 to the accounts and comply with the charity's the Charity's conslilution.the Charities Act 2011. the Companies Act 2006,Ihe Memorandurn and Articles of Association and Reporting by Charities.. Statement of Recommended Practice applicable to charTties prep?ng their accounts in a¢cordance wlh the Financial Reporting Standard for Smaller Entities Objectivas and activities The charity's objectives and principal aclivilie5 are to.. To support the growth c2pacity in Ihe area. which will involve local residents and interested p8rties in the running of the organisations and projects in the HU6 area. To develop long term assets in the area, for thè use of members of the communty, for the delivery of the projeds and lor the generation of income to 5UPPOrt the activity of the community and UIC and so reduc£ the dependency on short-lerm grant income. To develop Projects that will inuease the opportunities for HU6 residents through the development of employment based initiatives and through the delivery of training (both certifiealed and non- rtificated) The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what actsvities the ChatY should undertake. ivhen planning our activities for the year the trustees have considered the charity commissions guidance on the public benefrt and how those activities will contribute to the charities aims and objectives as detailed below. The trustees have complied with Ihe dLty in section 17151 of the chaTlties Act 2011 to have due regard to public benefit guidance. as published by the charities commission. The Charity is es13blished for the purpose of associating with local and national authorities, private 5eclor. voluntary. community and other organisalions in a common effort to aid social sporting, environmental, culture, spirFtual and economic development wilhir¢ Northern Hull. Unity contracts - is the soci31 enterprise of trading am of UIC, and developed as part of the exil strategy of foundation for WOTk the enterptise creates local jobs to support the development of a local quality building maintenancè service offering support in moving people on in thè employment market throltgh work- based activity and on-site work experience, and underpinning the local economy in job eatiOn and local service delivery. The company has also been active in supporknng projects and indimduals in the 8rea through its project and bursary funds, and by providing adwce and assistan to local organisations in applying for funding. The comp8ny has also been adive by providing advice and 5UPPOrt to local organisalions in applying for funding. The company has continued to build a portfolio of residential properties for let and intend to continue the a¢liMty through the next financial year as part of ils asset building strategy. Applications for employment by disabled persons are aayS fully conBidered, bearing in mind the aptitudes of the app5icant concerned. In the event of members of st?ff becoming disablèd, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training. career development and promotion of disabled persons should, as far as possible, be identical to that ol other employees.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perforniance During the year under review the company has.. _1. Grown a strong footfall at the heart of the community at 372 Greenwood Avenue. 1. Grown a strong footfall at the heart of the communty at 372 Greenwood Avenue. 2. Become a NCFE aredited centre in delivering a variety of training courses 3. Continued lo deliver UKSPF funding through the Explorsng Opporlunities, Voices on the Estate & Healthy Hotnes 4. Developed an Adult Learning Space Spa at 372 Greenwood Avenue, lo ensure residen15 have access to Adult EducatlDn Budget funding for Maths, English & IT 5. Supported residents of Hull through the winter via our Healthy Homes scheme 6. Continued to house and support 14 businesses al the Greenwood Business & Enterprise cenlre. 7. Delivered food parcels for the local eommvnity and residents. 8. Launched a Construction Study Programme: replscing the existing Traineeship project. 9. DeveSDped properties on beha5f of Hull City Council 10. We have hosted a total of 1.596 volunleer hours during the year. 11. Supported the Unty Café within Ihe Ofchard Centre until November 2023 12. Supported the Resettlement team of Hull City Council in settling a number of familie5 in the cty. During the year under review we have worked in partnership wlh-. Locality Hull City Council's Northern Area Team . The PCSO'S - The Refugee Support Team, preparing properties for new arrival5. . Community Trtumph Re31 Aid Fashare, delivering food bags in the community. Looking Goocl, Feeling Good Hvll Northern Social Club No Dig CommuntyAllotmenls Humber Learning Consortium Citizens Adwce Bureau City Healthcare Partnership . ReNew Hull City Council Regeneration Kingswood High School Rainbow Garden Hull Library of Stuff Probe Hull Ltd. As part of fulfilling the companies, objectives it ha5 operated the Unty Contracts Division which generates incorne through the provision of building mèintenance serviGes to residents, cotnmunily groups, Hull Cty Council and other registered SOGial landlords. Unity Contracts have approached other organisalions such as housing landlords. development trusts, charitablè organisstions and community groups and caffied out works foT them. Unty Contracts also works with the Asylum Support Team in support people into homes.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The financial statements are set out elsewhere in this report. During the year under review the Company has a surplus of income over expenditure of £190,792 leaving the company with net assets of £1,354,111. Reserves Policy The Trustees seek to maintain a level of free reseTves {that is fund5 not tied up in fixed assets and restrictèd funds) that will enable the Charity to Sustain its operation over a period when the income generation maybe curtailed temporartly or petm3nently. The Trustees consider the most appropriate level to be 6 months expenditure on chari13ble objectives and management of the organisations and are strivig to increase free reserves lo this level given the growth of the organisation. Deficit on the General Fund The Trustees are endeavouring tc> put in place revenue streams which will enable this dèficit lo be reduced in the future. To the extent that this does not happen a transfer from the Endowment will be made for the previous years deficit in accordance with the business plan for the release of the funds lo the Charily. 11 is the policy of the charity that unrestricted funds which have not been designated for a specifjc use should be maintained 2t a level equivalent to btheen three and six month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in fundirsg, they will be able to continue the charity's current activities while Gonsider81ion is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Truslees are reviewing the major risks to which the Charity is exposed. Inlemal risks are millimised by Ihe implementation of procedures for authorising transactions and projects, to ensure consislenl quality of delivery for all operational aspects of the Charity. These prOduleS are periodically reviewed lo ensure they meet the needs ofthe Charity PLANS FOR FUTURE PERIODS In accordance with the business plan UIC afe looking to explore further income generating work and projeds: Unity ConlT2¢ts- exp2nding in areas of handyman service to thè elderly and disabled. fa¢ililies management, training in additional construction skills, support serwce5, link5 to social firms and community yroups, younger people and skills for life. Business Support- Develop our busirEess 5UPPOrt offer lo ensure that the tenants at 372 Greenwood Avenue have the opporfunity lo develop and grow Iheir businesses. Propety- Work with the local authority lo develop empty properties across the city whith will be transferred into ownership of UIC after completion. Computer Suite- Continue 10 5UPPOrt local residents with job searGh, training and digital deprivation. Training and skills- develop a strong training offer for local residents aged 16+ around Maths, English, IT. Con51ruclion, Health and Social Care, Customer Service and Hospltalily & Catering. Greenwood Sile - Now that the $5te is operational, build up a regular centre user b8se that will support residents with a variety of projects. Work in partnership with Hull City Council to renovate empty properties wrthin Ihe City to bling them back into occupation.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management The company Northern Hull Community Development Lirniled, which trade5 as Unity in Community {UIC)is a company limited by guarantee and a registered ¢harity govemed by its Memorandum and Artides ofA5sociation. It acts entirely as a noTrprofit making org3nisalion The TTUStees, who are also the directors for the PLSrptsse of company law, and who served during the year and up to the date Df signature of the financial statements were-. Mrs Justin8 Oraka Cllr S Wilson MTS J Brindley Ms K Y Pickering MrAWdre Mr S Prince Mr D Woods (Resigned 11 June 20231 TTUStees are recruited from the local communty and organis3tions and are elected to the Board at Ihe Annual General Meeting. In accordance with the Memorandum and Articles of Association at the Annual Genetal Meeting one-third of the directors will retire by rotation Mr D Walker and Mr5 J Oraka being eligible offer themselves for re-election. A maximum Df three new trustee5 may be cwpted onto the Board until the nexl Annual General meeting when they will retire and being eligible be nomillaled for reappointment by the members. The Trustees lo retire by rotation shall be those who have served longest Sin Iheir last appointment or re-appointment: but between persons who became or were last re-appointed Trustees on the same day those to retire shall be (unless they otherwise agree amongst themselves) be determined by all. The company's cuent policy conceming the payment of lffjde creditors is to follow the CBI'S Prompt Payers Code (copies are available from Ihe CBI. CentTe Point, 103 New Oxford Street, London WC1A 1DUI. The company's Current policy concerning the paymenl of trade edItorS is to.. settle the terms of payment wilh suppliers when agreeing the temis of each tr3nsaction', ensure that suppliers are made aware of the terms of paymenl by inclusion of the relevant terms in conlracls., and pay in accordance with the company's contractual and other legal obligations. Trade creditors of the company at the year end were equivalent lo 30 day's purchases, based on the average daily amount invoiced by suppliers during the year. The Board of Trustees who are also the director5 meet rnonthly to administer the Charity. They are supported by various sub-committees. The Finance Manager and Contracts Manager oversee the day to dsy operation of Ihe Charity supportèd by paid slaff and volunteers. Employee involvement Applications for employment by disabled persons are always fulty considered, bearing in mind the aplrtude5 of the applicant concemed. In the event of members of staff becoming disabled, every effort is made to ensiire that their employment within the charity continues 2nd that the appropriate training is arr3nged. 11 is the policy of the charity that the training. career development and promotion of disabled persons should, as far a5 possible, be identical lo ttiat of other employees.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees, responsibilitiès The Trustees, who are also the director5 of Northem Hull CommL5nity Development Ltd for the purpose of company law, are responsible for pfeparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pradicel. Company law require5 the Trustees to prepare accounts for each financial year which give a true and fair wew of the state of affairs of the charity and of the incoming reSoUrS and appliG8tion of resour5, including the income and expendilure, of the chariiable company for that yeaT. In preparing these accounts, the Trustees are requiTed lo. select suitable accounting policies and then apply them consistentty., observe the methods and principles in the Cbarilies SORP; - make judgements and estimates that are reasonable and prudent,. and prepare the accounts on the going COnM basis tjnless it is inappropriate to presume that the charity will Gontinue in operatioll. The TTuslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable theTn to ensure that the accounts cornply with the Companiès Act 2006. They are also Tesponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor A resolution proposing that F8wley Judge & Easton be reappointed as audito[5 of the company will be put to the members. The Trustee5' report was approved by the Board of Trustee5. Mr S Prince Trustee Dated-. 18 December 2024
NORTHERN HULL COMMUNITY DEVELOPMENT LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NORTHERN HULL COMMUNITY DEVELOPMENT LTD Opinion We have audited the financial stalements of Northern Hull Community Development Ltd (the 'charity') for IhE year ended 31 March 2024 which comprise the statement of financial activities, the summary income and expendtture account, the balance sheet, the statement of cash flows and notes to the financial slalemenls, including signif cant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Stsndard 102 The Finan81 Reporting standard applicable in the UK and Republic of Ireland (United lQngdom Generally AGpIed AGry)unling Pra¢tice)- Sn our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 Mar¢h 2024 and of ils incoming resources and application of resources. for the year then ended., have been propeTly prepared in accordance with United Kingdom Generally A¢cepled AGcounting Practice,. and have been prepared in aOrdanCe with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards Auditing (UK) IISAs (UK)) and applicable law. Our rèsponsibilities under those standards are further describèd in the Auditoffs sponSIbl11b2S for thg audit of the finanGial statements section of our report. We are independent of the charity 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 we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe thal the audit ewden¢e we have obtained is 8uffi¢ienl and appropriate to provide a basis foT our opinion. Concluslons relating to going concern In auditing the financial statemenls, we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, indiwdu311y or ctsllectively, may cast signifir3nt doubt on the charity's ability to continue as a going conrn for a period of at least tselve months from when the financial stalements are authorised for issue. Our responsibilities and the rosponsibililies of the Trustees with respecl lo going ¢oncern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the financial statements and our auditorfs report thereon. The Trustees are responsible for the other infomiation conlained within the annual report. Our opinion Dn the financial statements does not cover the other inftirmalion and we do not express any form of assurance condusiorE thereon. Our responsibility is to ad the other Information and. in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge Dblained in the course of the audit, or otherwise 8ppears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements, we are required to deterrnine whether this gives rise to a material misstatement n the finan<xal ststements themselves. If, based on the work we have perfomied, wè conclude that there is a material misslaiement of this other infomialion, we are required to report that fact. We have nothing to report in this regard. M3tter5 on which we are rgquired to report by exception INe have nothing to report in respect of the following matters in relation to which the Chartties (Ants and Reports) Regulations 2008 require us lo report to you rf, in our opinion-. the infom)ation given in the financial statemerrts is inconsistent in any material respect with the Trustees, report. or sufficient accounting records have not been kept., or the financial statements are not agreernent with the accounting records-, or we have not received all the information and explanations we require for our audit.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NORTHERN HULL COMMUNITY DEVELOPMENT LTD Rosponsibilities of Trustees As explained more fully in the statement of Twstee5' 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 a5 the Trustees determine is necessary to enable the preparation of financial statemen15 that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements. the TTUStees sre responsible for assessing the charity's ability to continue as a going concern, disGlosing. as appIlble. matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company 01 lo cease operations. or have no realistic altemalNe but to do so. Auditorfs responsibllities for the audit of the financial statements We have been 3ppointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from malerial mi5Statemenl, whether due to fraud or error, and lo issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guaranlee thal an audit conduded in accordance with ISAS (UK) will always delect a malerial misstatement when il exists. Misstatements Can arise from fraud or eTror and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial 51atemenls. The extent to which our procedures are capable of deleGting irregularties, including fraud, is detailed below. A further description of our responsibilities is available on the Financial Reporting Council's website at-. https'.11 www.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditor's report. This report is made solely to the Company s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company s members those mattèrs we are required to slate to them in an auditor's report and for no other purpose. To the hjllest extent pemiitted by law, we do not accept or assume responsibility tD anyone other thall the company and the company's members as a body, for OUT audit work, for this report. or for the opinions we have fom)ed. Jo fo an Leathley (Senior Ststutory Auditor? nd on behalf of Fawley Judge & Easton 18 December 2024 Chartered Certified Accountants Statutory Auditor I Parliament Street Hull East Yorkshire HU12AS Fawley Judge & Easton is eligible for appointment as aLEdilor of the charity by wrtue of it5 eligibility for appoinlrnent as auditor of a company under section 1212 of the Companies Act 2006.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD STATEMENT OF FINANCIALACTMTIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 UnT•strfcted R¢strtcted Endovrnerbt funds fund5 funds 2024 2024 2024 Total Llnr•Btrkt Rsstrkted EndgwThent funds tunds funds 2023 2023 2023 Totsl 2Q24 2023 Note5 Income and endowrnents IrDm', DonatioTh¥ and legaclW4 Charitable a111e5 OIn com& 25.426 6D1.728 l.Z77 25,426 945.776 1.27f 606 581,552 14.679 606 1.W6.209 14.879 344.048 444,$57 Total1nGoMe 628.Qi 344,Q4B 72,479 596.837 1,041,494 &xpendlturè on.. ChaTit8ble adivhits Otherexpdll4 675.872 19.034 278.731 952.4D3 19 034 3.102 13,186 414.657 967.759 13.186 12 Total expTrndiiuro 694.7Q8 276.731 971.437 566,288 414.657 30.549 30.QUO 80.549 Not Incom•ll•xp•ndlturel 166.2751 67.317 OlherTectsgn15ed galns snd lossès.. Re¥3tIn Df tan9iblef1xets ass8ts 189.750 189,750 N•tmoYem•ntln funds 123.475 67.317 190.792 Ji549 RecoD¢illaiion of fvnds.. Fvod baknces 811 April 2023 30.ow 1,123,832 1,183.319 121.0521 1.123.832 1.102.77D Fund b•iance& atjl March 2024 132.962 97.317 1.123,832 1.3S4.111 9.487 30.000 1.123.832 1.IS3.319 Th? stat?meThl Offinanal arbvitio$ allgalns and10sges recogni8ed Inthe year. Al Income and eXpditure derivefrorn cothulnq ath¢iEs.
NORTHERN HULL COMMUNITY DEVELOPMENT LTD SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARGH 2024 All income funds 2024 2023 Gross incume 972,479 1.041,494 Totsl expendilure from income fund5 971.437 980,945 Net income for the year 1.042 60,549
NORTHERN HULL COMMUNITY DEVELOPMENT LTD BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible 8ssets Investments 779.204 17,093 15 16 1,034,510 1,034,510 796.297 Current asset5 Stocks Debtors Cash at bank and in hand 17 18 11,941 264.544 651.428 3.705 403,459 206,047 927,913 613,211 Creditors: amounts falllng due withln one year 20 455,949 89,329 523.882 Net current assets 471.964 Totsl assets less current liabilities 1,506.474 1,320,179 Creditors: amounts falling duo after more than one year 21 (156,860) 1152.363) 1,354,111 1,163,320 Net assets Capitsl funds Endowment funds Income funds Restsicted funds Unrestricted fvnds 1.123,832 1.123,832 30,000 9,487 97.317 132,962 1,354,111 1,163.320 The financial statements were approved by Ihe board of director5 and aulhorised for issue on 18 Dember 2024 and are 51 ed on tts behalf by. Mr S Prince Trustee Company Registration No. 03484285 10-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notss Cash flows from operating activities Cash generated Trom/(ab50rbed by) operations 27 507.732 1147,222) Investing a¢tivities Purchase of tangible fixed aetS Proceeds on disposal of investments 174,94n 17.093 219.929 Net cash (used inllgenerated from investing activities (57,8541 219,929 Financing activities Repayment of bank loans 14,4971 18,558} Net cash used in financTng activltios 14.49 {8.5581 Net increase in cash and cash equivalents 445,381 64.149 Cash and cash equivalents at beginning of year 206,047 141.898 Cash and cash equivalent5 at end of year 651,428 206.047 11
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEL) 31 MARCH 2024 Accounting policies ChaTIty information Northern Hull Community Development Ltd is a priv81e company limited by guarantee intorpor31ed in England and Wales. The registered office is Comunity Resource Centre, 501 Endike Lane. Hull, Easl Yorkshire, HU6 6AQ, EngSand. 1.1 Accounting convention The financial statements have been prepared in accordance with the tharity's Igoveming documentl, the Companies Act 2006. FRS 102 "The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" I'FRS 1021 and the Charities SORP "Accounting and Reporting by Charities-. Statement of Recommended Practice appIlble to charities prepèring their accounts in accofdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" leffecltve 1 January 2019). The harily is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the PFovision5 in the SORP for charities not to prepare a Sialement of Cash Flows. 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 Ihe histofical cost convention. Imodified to include the revaluation Df freehold properties and lo include investment properties and certain financial inslrurnenls al fair value]. The principal accounting policies adopted afe set out below. 1.2 Going concem Al the time of approving the financial statements, the TTuslees have 3 reasonable expectation thal the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Tiuslees continue lo adopt the going o)ncern basis of accounting in preparing the financial stalemenls. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the Trustees in furtheran of their tharitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted futTrds are sel out in the notes to the financial statements. Unrestricted funds are available fof use at the discretion of Ihe Trustees in furtheranoe of the general objectives of the ¢harity. Designated funds are unrestricled funds earniarked by the management committee for particular purposes. Restricled funds are subject to restrictiOTlS on their expenditure imposed by the donor or through terms of an appeal. Endowed funds are assets donaled to the charity lo fomi a capital base to cary out its charrtable objectives IA Incom9 Income is recognised when the charity is legally entilled to it after any pèrformance condrtions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash don2tions 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 lax re¢oveTable in relIan to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 12
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl Legacies are recognised on receipt or otherwise rf the charity has been notified o* an impending distribLrtion, the smount is known, and receipt 15 expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expefbditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefil to a third p8ty. it is probable that 8 transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classffied by activity. The costs of each activty are made up of the total of direct CDSt5 and shared costs, including support Costs involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly to thal activity. Shared costs which contribute to molè than one adivity and support costs which are not attributable to a single activity are apportioned between those adivities on a basis con5i5tent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciab'on chargès are allocated on the portion of the asset's use. ReSoUrS expended are charged on an accruals basis. indusive of irrecoverable Value Added Tax. Direct charitable expenditure comprises those costs directly incurred in pursuance of the Company's charitable activities where the costs fighlly belong b more Ihsn one achvity an appropriate proportion is charged lo each aciiwly. Governance costs includes expenditure which is incurred meeting the conslilutional and statutory requirements of the charity 1.6 Tanglblè fixgd assots Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient 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 bases.. Land and buildings Fixtures. fillings & equipment Motor Vehicles Land is T40t depreciated Property 15 years 5t0 10years 4 years The gain or loss arising on the disposal of an asset is determined as the drf[ence between the sale proceeds and the carying value of the asset, and is recognised In the statement of financial 3ctivitie5. 1.7 Fixed asset Investments Fixed asset investments are initialty measured at trdnsaction prTce excluding transaction costs, and are subsequently measured at faif value al each reporting date. Changes in fair value are recognised in net incomel{expen(Jiturel for the year. Transaction costs are expensed as incurred. 1.8 Impairnient of fixed assets At each reporting end date. the charity reviews the carrying amounts of 115 t3nyible assets to deterniine whether there is any indication that those assets have suffered an impairment loss. If any such indirxlion exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment loss (if any). 13-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCSAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuodl 1.9 Stocks stocks are staled at the loyier of cost and estimated selling price less costs to complete and sell. Cost Comprises direct materials and. where appIlble. dirert labour Gosts and those overheads that have been ncurred in bringing the stocks to their present location and condition. Items held for distribution at no or nomir)al consideration are measured the lower of replacernent cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and Costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at Call wrth bank5, Other short-tem liquid investments with original maturitses of three month5 or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Finaneial instruments The charity has elected to apply the prowsions of Se¢tion 11 'Basi¢ Financial Instnjmenls, and Section 12 'Other Financia5 Instruments Issues, of FRS 102 to all of its financial instruments. Financial instnjments are recognised in the charivs balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amourrts presented in the financial slaternents, when there 15 a legally enforceable tight to set off the recognised amounts and there is an intention to settle on a net basi5 or to realise the asset and settle the lisbility simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction ¢osts and are subsequently carried at 3mortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured 8t the present value of the futUTe receipts discounted at a market rale of interest. Finanoal assets classified as receNable within one year are not amortised. Basie financial liabilities Basic financial liabilities, including CFeditOT5 and bank loans are initially recogni5ed at tiansaction price unless Ihe arrangement conslilule5 a financing tran58Ct%on, where the debt instrument is measured at the present value of the future payments dis¢ounted at a market rate of ir*teresL Financial liabilities classified a5 payable within one year are not amortised. Debt instruments are subsequently Garried at amortised cost, using thè effective interest rate method. Trade credttors are nblig2tions to pay for goods or services that have been acquired in the ordinary course of operations from supplier5. Amounts payable are classified as wrrent liabilities if payment 15 due within one year or less. If not, they are presented as non-current liabilities. Trade credilors are recognised initially at transaction price and subsequèntly mèasured at amortised cost using the effective intere51 method. Dere¢ognition of financial liabilities Financial liabiltties are derecognised when the charity'5 contractual obligations expire or are discharged or cancelled. 14-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl 1.12 Employoe benefrts 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 lo tetminate the employment of an employee or to promde termination benefits. 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 assumption5 are based on histori1 experience and other factors thal are considered to be relevant. Actual Tesults may differ from these e51imates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estimates are recognised in the period in which the estimate is Tevised where the revision affects only that peiiod, or in the period of the rovtsion and future periods where the revision affects both Current and tUre periods. Incorne frorn donation5 and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 25,426 606 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 To131 Unrestrtcted Restricted funds funds 2023 2023 Total 2024 2023 Core Contract illcofne Charitable rental income Grants received 33,018 24,944 157.5S6 33.018 24,944 501.604 32,829 20,798 79,208 32.829 20,798 523,865 344.048 444,657 Propeity Charitsble rerrtal incoTne 45.396 45,396 56,608 56,608 Contracting Contract income 340.814 340,814 392,109 392,109 601,728 344,048 945,776 581,552 444,657 1,026,209 15-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other income funds 2023 Released frorn endowment funds 1,277 14,679 1,277 14,679 For the year ended 31 Mah 2023 14,679 14,679 Charitable activities Core Property Contracting Total 2024 Totsl 2023 2024 2024 2024 Staff ct)sts Materials & consumables Equipment hire Motor expenses Repairs and renewals TTavelling expenses Rates Light & Heat Advertising Training Insurance 365.770 2,619 1.555 365,770 258,161 1,555 2,828 91,578 3,055 12,981 29,098 9,086 356,554 256,484 2.399 3,036 59,165 1,155 13,005 23.540 255,542 2.828 12,105 30,000 3,055 12.981 29,098 9.086 49.473 2.360 24,829 30,664 484,828 49.473 270.475 804.776 742.527 Grant funding of activities {see note n 53,082 53,082 123.119 Share of support costs (see note 81 Share of govemance costs (see note 8) 88.961 5.584 88,961 5,584 97,385 4.728 632,455 49,473 270,475 952,403 967,759 Analysis by fund Unre51ricted ftjnds Reslricled funds 355,724 276,731 49,473 270,475 675.672 276,731 553.102 414,657 632.455 49,473 270,475 952,403 967.759 Forthe year ended 31 March 2023 Unreslricled funds Restricted funds 257,680 414,657 29.846 265,576 553.102 414,657 672,337 29.846 265,576 967,759 16-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2Q24 Grants payable Core 2024 Core 2023 Grants to institutions.. Grants to individuals 53,082 123,119 53,082 123,119 Support costs Support Governance costs osts 2024 2023 Basis of allocation Depreciation Repairs & renewsls Postage & stationery Telephone Consultancy Other centre costs 9.391 11.037 4,028 6,059 55.946 2,500 9,391 11,037 4,028 6,059 55,946 2,500 12,270 11,186 3,957 5,445 62,406 2,121 Accountancy Legal and professional 4.680 4,680 904 4,693 Governance 35 Governan 88,961 5.584 94.545 102.113 Analysed between Charitable activities 88,961 5.584 94,545 102,115 Net movement in funds 2024 2023 The net movement in ftjnds is stated after chargingll¢rediting>'. Depreciation of owned tangible fixed assets 9,391 12.270 10 Trustees None of the Trustees lor any persons connected with them) refjved any muneratIon or benefits from the Charity duTing the year. 17-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 11 Employees The average monthly number of employees during the year was. 2024 Number 2023 Number 13 13 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 332.853 23,593 9.325 341,554 10,000 5,000 365,770 356.554 There were no employees whose annual remuneration was more Ihan £60,000. 12 Other 2024 2023 Financing costs 19,034 13,186 19,034 13.186 13 Taxation As a chanty Ihe company is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxalion of chargeable Gains Act 1992 to the extent that these are applied lo its charitable objects- No tax Charges have arisen in the charity 14 Transfers The Trustees are endeavouring to put in pla revenue slresms which will enable this deficit lo be reduced in the future. To the extenl that thi5 does not happen a transfer from the Endowment will be made for the previous years deficit in accordan with the business plan for the release of the funds to the Charity 18-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible fixed assets Land and building$ Investment Property FlxtUTeS, rittings & equipmont Motor Vèhicl8s Total Cost At 1 April 2023 Additions Revaluation 189,074 710,000 74,947 90,000 93.698 26,376 1.019,148 74,947 90,000 At 31 March 2024 189,074 874,947 93,698 26.375 1,184,095 Depreciation and Impainnent At 1 April 2023 Depreciation charged in the year Revaluation 23.024 7,708 99,750 91.371 1,108 25,799 575 23g,944 9,391 199,750) (99,7501 Al 31 March 2024 30,732 92,479 28,374 149,585 Carying amount Al 31 M?rch 2024 158.342 874.947 1,219 1.034,510 Al 31 March 2023 166,050 610,250 2,327 577 779.204 The freehold properties valued at £110.000 were donated lo the Company by the North Hull Housin¢ Action Trus1. The Company is not at liberty to freely dispose of the properties. The restrictions imposed are sel OLrt in the land certificates. registration numbers HS232045 and HS213105. Freehold land and buildings includes £861,584 of properties rented out on short tem) leases 16 Fixed asset investm9nts Unlisted investments Cost or valuation At 1 Apfil 2023 & 31 March 2024 17.093 Carrying amount At 31 March 2024 17.093 At 31 March 2023 17,093 17 Stocks 2024 2023 Finished goods and goods for resale 11.941 3,705 19-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 8 Debtors 2024 2023 Amounts falling due within on¢ year: Trade debtors Prepaymènts and awrued income 264,544 402,193 1,266 264.544 403,459 19 Loans and overdrafts 2024 2023 Bank loans 175,175 179,672 Payable within one year Payable after one year 22,812 152.363 22,812 156,860 The IDng-temi loans are secured by fixed charges over the following properties.. 22 Bardshaw, 51 Bachelor street, 10 Limedane, 154 Hall Road, 2 Isledane, 10 Jipd2ne, 5 we$¥Y Aven¥Je, 14 lglh Avenue. 3 Na5hcourt, 19 Earls¢ourt. 20 Creditors- amounts falling due within one year 2024 2023 Notes Bank loans Other taxalion and s0¢ial security Trade creditors Olher creditors A¢cru8ls and deferred income 19 22,812 6,639 12,255 10,766 403,477 22,812 4,927 13,948 13.036 34,606 455.949 89,329 21 Creditors: amounts falling due aftermore than one year 2024 2023 Notes Bank loans 19 152,363 156,860 -20-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donoTS as to how they may be used. At 1 April 2023 Incomlng resour¢e$ Resources At 31 March expended 2024 ActiDn to work Matthew good Foundation UKSPF Nationwide Commurlity Grants Energy Grants HLC - Explortng Opportunllies HLC- Bursary 492 500 58,644 1492) (5001 158.6441 {30.0001 {33.8791 1151,6511 (1.5651 30,000 131.196 151.651 1,565 97,317 30,000 344,048 (276,7311 97,317 Previous year: At 1 April 2022 Incoming resourcgs Resources At 31 March expended 2023 UKSPF Nationwide Gomrnunity Grants Julia & Han Rausiyg Gfoundwork CCLD - Ashton C105e Energy Grants NHS NBF Winter Wamith Grant Two Ridings Community Foundation 69.000 49.125 500 1,500 170,243 133.750 9,183 9,356 2,000 169,000) (1g,125) 1500) 11,5001 {170,243) 1133,7501 {9.183) 19,3561 12.000) 30,000 444.657 1414,65n 30,000 The Bursary Fund and Communty Fund are held to make Bmall grants lo ¢ommunity groups and residentB who wish to fvrther their training and education. -21
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE NNANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 23 E#dowment fvnd$ mont ltt funds Tr4nsfeTS G#in% iThd GthB4nd n¢•t lo•¥ 3% WiTEh 2021 1 Apnl 2D2t 2D22 r•ÈtTrurc HUH HAT EDdwment 1.123.832 t,123.832 1,123.832 1,123.832 1.123.832 1.123,B32 The Nffih Hu11 HATaDdDvmxnt is Ih¥fundÈ rtha58dt¢lhA charityto b¥ u$ed in accordancewth the bUt$S rthnA ?$t0 M¥th 29 22
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Unrestri¢tgd funds The unrestricted funds of the charFty comprise the unexpended balances of donations and granlg which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been Set aside out of unrestricted fund5 by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources ¢xpended Gains and At 31 March losse5 2024 General funds 9,487 628.431 1694,706) 189.750 132,962 Previous year. At 1 April 2022 Incomlng resources Resources exponded Gains and At 31 March losses 2023 General funds 121,062) 596,837 (566.288} 9.487 25 Analysls of net assets betvleen funds Unrestricted funds 2024 Restricted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabi5iliesl Long term liabilities 1.034,510 89,322 1,034,510 471,964 (152.3631 285,325 {152,363) 97,317 132,962 97.317 1,123,832 1,354,111 Unrestricted funds 2023 Restrictsd Endowment funds funds 2023 2023 Total 2023 At 31 March 2023: Tangible asset5 Investments Current asselsllliabililies) Long terni liabilities T19,204 17,093 327,535 779,204 17.093 523,882 (156,8601 166,347 (156,8601 30.000 9.487 30,000 1.123,832 1,163,319 26 Related party transactions Transactions with related partie$ During the year the charity entered into the following tr8nsactions with related parties.. -23-
NORTHERN HULL COMMUNITY DEVELOPMENT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Related party transactions {Continuedl Mrs J Brindley who is also a Trustee provided consultancy services to Northern Hull Community Development Limited during the year of £33.000. 27 Cash generated from operations 2024 2023 Surplus for the year 1,042 60.549 Adjustments for.. Depreciation and impairment of tangible fixed assets 9,391 12,270 Movements In working capit31-. {Increaselldecrease in stocks Decreasel(incre8se) in debtors Increaselldecreasel in credf(ors 18,2361 138,915 366,620 3,286 1121.1961 (102,131) Cash generated froml{absorbed by) operations 507,732 (147,2221 -24-