COMPANY REGISTRATION NUMBER: 03657728 CHARITY REGISTRATION NUMBER: 1075934
Holbeck Together
Company Limited by Guarantee
Unaudited Financial Statements
For the year ended 31 March 2024
Holbeck Together
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities (including income and expenditure account) | 8 |
| Statement of financial position | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statements | 11 |
Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees present their annual report together with the financial statements of the charity for the year to 31 March 2024. The annual report serves the purpose of both a Trustees’ report and a Directors’ report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (‘SORP’) applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS102 issued in October 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
Reference and administrative details
| Registered charity name | Holbeck Together |
|---|---|
| Charity registration number | 1075934 |
| Company registration number | 03657728 |
| Principal office and registered | The Old Box Office |
| office | 99 Domestic Street |
| Leeds | |
| LS11 9NS | |
| England | |
| The trustees | |
| John England BSc MBA, (Chair) | |
| Anne Hopper, (Vice Chair) (passed away 29 May 2024) | |
| Mavis Addawoo | |
| Carol Cochrane | |
| Karen Wint | |
| Susan Cawthray | |
| John Curbison | |
| Peter Hodkinson | |
| Ann Hepburn | |
| Independent examiner | Gibson Booth |
| New Court | |
| Abbey Road North | |
| Shepley | |
| Huddersfield | |
| HD8 8BJ | |
| Bankers | Unity Trust Bank Plc |
| 9 Brindley Place | |
| 4 Oozells Square | |
| Birmingham | |
| B1 2HB |
Senior management team
Elissa Newman - Chief Executive Officer Claire Holmes - Operations and Service Officer
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Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management
Governing Document
The charity registered with the Charity Commission on 10 June 1999, under number 1075934 and was incorporated as a company limited by guarantee, company number 03657728, on 28 October 1998. The governing documents of the charity are the memorandum and articles of association. The articles of association were revised on 23 May 2019. By special resolution dated 27 September 2019 the charity changed its name from Holbeck Elderly Aid to Holbeck Together. As the charity’s business planning develops to incorporate potential growth arising from (currently unsecured) capital investment, consideration is being given to further changes to the governing structure of the charity, with a view to separating commercial and social enterprise activities from core charitable services delivered directly by Holbeck Together.
----- Start of picture text -----
Holbeck Together Supermarket based at
St Matthews Community Centre
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Friendship group and games afternoons
Appointment of Trustees, Induction and Training
The Board of Trustees is the governing body of the charity. The Board has produced a skills matrix for current trustees and will use this information to appoint from time-to-time new trustees taking account of skills, knowledge, experience, and enthusiasm for the cause of the charity. All new trustees are provided with an induction pack which includes details of their responsibilities as trustees (including guidance from the Charity Commission on trustees’ roles and responsibilities). During the year to March 31st, 2024, there were no changes to the membership of the Board.
Risk Management
The identification and management of risk is integral to the work of Holbeck Together. A strategic risk register is in place covering governance, finance, operational and strategic development. It identifies the potential risks the organisation is exposed to and, for each risk, the existing controls in place and potential improvements in control. The Risk Register is overseen by a lead trustee and updated on a regular basis. Risks are considered at every Board meeting along with mitigations. As new risks are identified these are added to the register along with existing controls and potential improvements. Trustees remain satisfied that there are systems in place to mitigate exposure to the major risks identified in the risk register, specifically financial risk, reputational risk, and policies and procedures to ensure safe services are delivered.
During the year this process of risk assessment has resulted in work being undertaken in a number of areas including a review of financial systems and implementation of changes, staff cyber security training and clarification of staff roles, responsibilities and delegations. Work has also progressed on the development of a regulatory Compliance Framework for the organisation.
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Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management (continued)
Parent and Tots Group
Holbeck Together’s Minibus
Safeguarding
Safeguarding is integral to the work of Holbeck Together reflecting the expansion of our role from supporting older people in the community to working with families and children. Over the year considerable progress has been made on ensuring our systems for safeguarding are robust and effective. There is a lead trustee for safeguarding and an organisational safeguarding lead. A safeguarding report is presented at every Board meeting. This provides trustees with updates on areas including training, audits, any safeguarding incidents and safety.
During the year policies and procedures for safeguarding of children and young people and staff recruitment (in line with Safer Recruitment) has been updated and DBS checks for volunteers undertaken, recorded and audited. Work is nearing completion on a volunteer recruitment policy. Trustees have completed safeguarding training, and the safeguarding lead trained in e-safety.
Fundraising Policy
The charity has an active fundraising strategy approved by the board and reviewed on a regular basis. This strategy identifies grant making trusts and potential corporate donors that the charity is already working with or is seeking to submit successful funding applications. The charity does not undertake any fundraising door to door activity; ask for donations on the street; share or sell peoples data; or cold call for fundraising purposes. The charity does not contract with any third-party organisation to raise funds on its behalf. The charity has developed some trading activities including a shop, a café and transport which are income generating.
The charity does work with external consultants in the preparation of funding applications; however, the board maintains oversight of all fundraising activities. Due to its size, the charity does not, include itself within the Fundraising Regulator regime.
Arising from our active fundraising strategy the income profile for the charity is changing, with a growing contribution from income generated through charging for services and corporate sponsorship. New activities have emerged through engagement with partners in the delivery of statutory commissioned services and there is potential for further growth in this activity. However, our core services and charitable purpose continues to be supported through funding from the National Lottery, Leeds City Council, and long-term grant making partners including The Garfield Weston and Henry Smith Trusts.
Objectives and Activities
The objectives of the charity are set out in the governing document. Holbeck Together is an independent charity whose aim is to support and assist the residents of the Holbeck neighbourhood and surrounding area in alleviating social isolation. Through the revised charitable objectives approved in 2019, the charity has expanded its reach to all people in the Holbeck and wider community and is exercising freedoms under charity law to raise funds through commercial activities.
Holbeck Together has embraced the concept of the “community anchor” organisation working with local people across all generations to improve lives and strengthen community cohesion. During the year under review Holbeck Together engaged with Leeds City Council and other key partners to prepare a funding bid under the then government’s Levelling Up programme. Of the three schemes included within the bid, the ‘Heart of Holbeck’ envisages a fully refurbished and re-designed St Matthews Centre alongside the ‘The Old Box Office’ building currently owned by Leeds Building Society, providing a community hub, with facilities for a social supermarket, café, charity shop, rooms for wellbeing services and rentable space for community and family events. The emphasis will be on providing skills and opportunities for local people and tackling health inequalities in the area.
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Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities (continued)
Building the Heart of Leeds partnership and the preparation of the bid has been resource intensify and during 2023-24 the board has committed significant senior staff time as well as expenditure exceeding £10K in fees and other costs. In due course a proportion of these costs will be recoverable. This work programme is re-shaping Holbeck Together’s strategic direction and business objectives in line with our revised charitable objectives.
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Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Public benefit
The charity’s main activities are set out above in this report. All activities focus on providing social care and support to the community. The impact of the charity’s work reaches beyond those directly helped and includes reducing stress and concern suffered by families and friends. The trustees acknowledge and confirm that the activities of the charity are for public benefit.
Financial review
Income increased by £25k (5.1%) to £507k (2022/23: £482k) with grant income up £16k and revenue from charitable activities £12k higher than the previous year. Donations were £6k lower. A healthy level of cash at the bank combined with rising interest rates resulted in investment income increasing by £2k. Grants represent 80% of total income. Diversification of income sources is a key area of strategic focus to enable us to broaden the services we deliver and for continuation of operations when grants naturally roll off.
Expenses increased by £104k to £583k (2022/23: £479k). Of this, £398k (2022/23: £265k) came from restricted funds and £185k (2022/23: £214k) from general funds which includes unrestricted grants and other income. Where possible funding for staff roles for delivery of specific programmes of work are matched to grants secured to support those programmes enabling us to have flexibility in our operating model. We also aim to secure funding for a proportion of central support costs from grants. £411k of expenditure in the year was on delivery of charitable activities (2022/23: £269k) and £172k on support costs (2022/23: £210k).
Overall funds reduced from £326k to £251k, of which £179k (2022/23: £227k) is unrestricted. The charity operated within the range set within our Reserves Policy during the year.
In November 2023 the board appointed new accountants, Gibson Booth, following a tender exercise. The transition period and the data handover has been completed successfully although there were gaps in reporting and detailed oversight was required by our senior managers to ensure effective financial controls were maintained.
During the year the number of staff employed grew by 3. Besides those post funded directly by grant or contract, two posts are an addition to the core costs of the charity, through the appointment of a finance worker and caretaker for St Matthews.
Reserves policy
The Trustees have a long-established reserves policy with the overarching principle to hold a robust level of reserves, designed to ensure financial stability and support the charity’s objectives during times of uncertainty and investment for growth.
The policy is reviewed on an annual basis. During the most recent review, adjustments were made to account for changes in operational risks and financial priorities.
The reserves policy continues to be aligned with the charity’s risk register. In the past year, the board has identified additional risks. These risks have been addressed to ensure the charity maintains sufficient reserves to mitigate potential impacts. The trustees remain committed to ensuring reserves are managed responsibly to support the charity’s work.
The board will continue to monitor the reserves policy in relation to the charity’s risk profile and financial position, with the next review scheduled for next year.
As at 31 March 2024 the charity reported total reserves of £250,553 of which £178,973 represented unrestricted reserves. None of those reserves were designated and £48,174 were invested in fixed assets giving free reserves for the charity at 31 March 2024 of £202,379.
Going Concern
In reviewing the sustainability of the charity, the trustees consider the financial health of the charity, including the reserves and identified financial risks. However, the trustees also consider whether the organisation is succeeding in delivering its charitable objectives and has a successful track record of raising funds through grants, contracts and sponsorship. The trustees are of the opinion that Holbeck Together has demonstrated its ability to enhance its reputation and build third sector leadership combined with generating income through an effective fundraising strategy and partnership working.
The trustees are also aware that there are macro level economic and political risks associated with ‘The Heart of Holbeck’, which we are not able to control. Our decisions to proceed at risk and incur ongoing costs associated with the project, are grounded in our charitable objectives and the strength of our third sector leadership and public and private sector partnerships. Further investment in fundraising and business expertise is also planned to help mitigate future financial risks.
The trustees are of the view that carried forward reserves will be sufficient to cover projected deficits and have taken the decision to utilise a substantial legacy to maintain cash reserves until the outcome of several key funding applications, including Heart of Holbeck, is known.
All that Holbeck Together has achieved is only made possible through the dedication and professionalism of our team of employed staff and our growing team of volunteers. Together they make our vision for Holbeck Together a reality; a dynamic organisation working with the people of Holbeck to improve their lives.
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Holbeck Together
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
20 Dec 2024
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
John England (Fri, 20th Dec 2024
11:56:30 GMT)
………………………………………………….
John England BSc MBA, (Chair) Trustee
20 Dec 2024 Date…………………………………..
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Holbeck Together
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Holbeck Together
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Holbeck Together ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
~~PIH ate~~
Patrick Heaton (Fri, 20th Dec 2024 12:03:11 GMT)
Patrick Heaton FCA Independent Examiner
For and on behalf of:
Gibson Booth Chartered Accountants New Court Abbey Road North Shepley Huddersfield HD8 8BJ
20 Dec 2024
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Holbeck Together
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 56,039 | 366,838 | 422,877 | 412,621 |
| Charitable activities | 6 | 80,994 | – | 80,994 | 68,587 |
| Investment income | 7 | 3,139 | – | 3,139 | 954 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| Total income | 140,172 | 366,838 | 507,010 | 482,162 | |
| ========================== | ========================== | ========================== | ========================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | (184,531) | (398,324) | (582,855) | (479,312) |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| Total expenditure | (184,531) | (398,324) | (582,855) | (479,312) | |
| ========================== | ========================== | ========================== | ========================== | ||
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| Net (expenditure)/income and net movement in | |||||
| funds | (44,359) | (31,486) | (75,845) | 2,850 | |
| ========================== | ========================== | ========================== | ========================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 226,629 | 99,769 | 326,398 | 323,548 | |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| Total funds carried forward | 182,270 | 68,283 | 250,553 | 326,398 | |
| ========================== | ========================== | ========================== | ========================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 20 form part of these financial statements.
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Holbeck Together
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 48,174 | 36,771 |
| Current assets | |||
| Debtors | 16 | 30,154 | 42,150 |
| Cash at bank and in hand | 261,918 | 303,996 | |
| -------------------------- | -------------------------- | ||
| 292,072 | 346,146 | ||
| Creditors: amounts falling due within one year | 17 | (89,693) | (56,519) |
| -------------------------- | -------------------------- | ||
| Net current assets | 202,379 | 289,627 | |
| -------------------------- | -------------------------- | ||
| Total assets less current liabilities | 250,553 | 326,398 | |
| -------------------------- | -------------------------- | ||
| Net assets | 250,553 | 326,398 | |
| ========================== | ========================== | ||
| Funds of the charity | |||
| Restricted funds | 71,580 | 99,769 | |
| Unrestricted funds | 178,973 | 226,629 | |
| -------------------------- | -------------------------- | ||
| Total charity funds | 19 | 250,553 | 326,398 |
| ========================== | ========================== |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
20 Dec 2024
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
John England (Fri, 20th Dec 2024 11:56:30 GMT)
John England BSc MBA, (Chair) Trustee
The notes on pages 11 to 20 form part of these financial statements.
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Holbeck Together
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (75,845) | 2,850 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 13,121 | 9,356 |
| Other interest receivable and similar income | (3,139) | (954) |
| Interest payable and similar charges | 3,096 | – |
| Accrued expenses/(income) | 23,134 | (869) |
| Changes in: | ||
| Trade and other debtors | 11,996 | 12,004 |
| Trade and other creditors | 10,040 | 5,218 |
| ---------------------- | ---------------------- | |
| Cash generated from operations | (17,597) | 27,605 |
| Interest paid | (3,096) | – |
| Interest received | 3,139 | 954 |
| ---------------------- | ---------------------- | |
| Net cash (used in)/from operating activities | (17,554) | 28,559 |
| ====================== | ====================== | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (24,524) | (17,754) |
| Proceeds from sale of tangible assets | – | 201 |
| ---------------------- | ---------------------- | |
| Net cash used in investing activities | (24,524) | (17,553) |
| ====================== | ====================== | |
| Net (decrease)/increase in cash and cash equivalents | (42,078) | 11,006 |
| Cash and cash equivalents at beginning of year | 303,996 | 292,990 |
| -------------------------- | -------------------------- | |
| Cash and cash equivalents at end of year | 261,918 | 303,996 |
| ========================== | ========================== |
The notes on pages 11 to 20 form part of these financial statements.
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Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Old Box Office, 99 Domestic Street, Leeds, LS11 9NS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP (FRS 102)), the Companies Act 2006, Charities Act 2011 and UK Generally Accepted Accounting Practice.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £. The significant accounting policies consistently applied in the preparation of these financial statements are set out below.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
No significant judgements have been made in the process of applying the entity's accounting policies.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Allocation of overheads and support costs by activity
The allocation of support costs between activity types is an estimation based upon the type of work performed and expenditure required for each activity type.
Fund accounting
Unrestricted funds comprise accumulated surpluses and deficits on the general fund and designated funds. They are available for use at the discretion of the directors in the furtherance of the company's general charitable objectives.
Restricted funds are created when grants and donations are made for a particular purpose, the use of which is restricted to that purpose.
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Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Legacy income is recognised when receipt is probable and entitlement is established.
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes, but not expended during the period, is shown in the relevant funds in the balance sheet. Where income is received in advance of entitlement of receipt its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 25% reducing balance |
|---|---|---|
| Motor vehicles | - | 25% reducing balance |
| Computer equipment | - | 25% reducing balance |
| Plant and machinery | - | 25% reducing balance |
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Limited by guarantee
The charitable company has nine members. If the charity is dissolved, each member promises to remain a member or within twelve months afterwards, to pay up to £1 towards the cost of dissolution and the liabilities of the charity while the contributor was a member.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 18,232 | – | 18,232 | |
| Grants | ||||
| Grants receivable | 37,807 | 366,838 | 404,645 | |
| ---------------------- | -------------------------- | -------------------------- | ||
| 56,039 | 366,838 | 422,877 | ||
| ====================== | ========================== | ========================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 24,171 | – | 24,171 | |
| Grants | ||||
| Grants receivable | 72,844 | 315,606 | 388,450 | |
| ---------------------- | -------------------------- | -------------------------- | ||
| 97,015 | 315,606 | 412,621 | ||
| ====================== | ========================== | ========================== | ||
| Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Activities income | 2,198 | 2,198 | 1,479 | 1,479 |
| Charity shop income | 7,449 | 7,449 | – | – |
| Fundraising | 2,358 | 2,358 | – | – |
| Lunch club | 31,343 | 31,343 | 32,911 | 32,911 |
| Social supermarket | 8,354 | 8,354 | 7,808 | 7,808 |
| Transportation income | 29,292 | 29,292 | 26,389 | 26,389 |
| ---------------------- | ---------------------- | ---------------------- | ---------------------- | |
| 80,994 | 80,994 | 68,587 | 68,587 | |
| ====================== | ====================== | ====================== | ====================== | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 3,139 | 3,139 | 954 | 954 |
| =================== | =================== | =========== | =========== |
6. Charitable activities
7. Investment income
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Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Charitable activities | 65,713 | 345,566 | 411,281 | ||
| Support costs | 118,818 | 52,758 | 171,574 | ||
| -------------------------- | -------------------------- | -------------------------- | |||
| 184,531 | 398,324 | 582,855 | |||
| ========================== | ========================== | ========================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Charitable activities | 55,631 | 213,588 | 269,219 | ||
| Support costs | 158,219 | 51,874 | 210,093 | ||
| -------------------------- | -------------------------- | -------------------------- | |||
| 213,850 | 265,462 | 479,312 | |||
| ========================== | ========================== | ========================== | |||
| 9. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Support | Total funds | Total funds | ||
| directly | costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 411,281 | 135,590 | 546,871 | 418,693 | |
| Governance costs | – | 35,984 | 35,984 | 60,619 | |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| 411,281 | 171,574 | 582,855 | 479,312 | ||
| ========================== | ========================== | ========================== | ========================== | ||
| 10. | Analysis of support costs | ||||
| Charitable | |||||
| activities | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| Staff costs | 73,347 | 73,347 | 109,927 | ||
| Premises | 2,316 | 2,316 | 16,223 | ||
| Finance costs | 495 | 495 | 727 | ||
| Employer's NIC | 1,615 | 1,615 | 2,234 | ||
| Pension costs | 3,945 | 3,945 | 4,583 | ||
| Legal and professional | 17,772 | 17,772 | – | ||
| Other expenditure | 36,100 | 36,100 | 15,780 | ||
| -------------------------- | -------------------------- | -------------------------- | |||
| 135,590 | 135,590 | 149,474 | |||
| ========================== | ========================== | ========================== | |||
| 11. | Net (expenditure)/income | ||||
| Net (expenditure)/income is stated after charging/(crediting): | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 13,121 | 9,356 | |||
| ====================== | =================== | ||||
| 12. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 2,100 | 2,800 | |||
| =================== | =================== |
- 14 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 289,137 | 251,032 |
| Social security costs | 18,284 | 11,190 |
| Employer contributions to pension plans | 13,116 | 10,259 |
| -------------------------- | -------------------------- | |
| 320,537 | 272,481 | |
| ========================== | ========================== |
| The average head count of employees during the year was 10 (2023: 9). The average number | of full-time | equivalent |
|---|---|---|
| employees during the year is analysed as follows: | ||
| 2024 | 2023 | |
| No. | No. | |
| Number of staff | 13 | 15 |
| =========== | =========== |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees (2023: Nil).
15. Tangible fixed assets
| Fixtures and | Motor | Computer | Plant and | ||
|---|---|---|---|---|---|
| fittings | vehicles | equipment | machinery | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 April 2023 | 17,855 | 98,180 | 22,738 | 7,546 | 146,319 |
| Additions | 1,882 | – | 22,353 | 289 | 24,524 |
| ---------------------- | ---------------------- | ---------------------- | ------------------- | -------------------------- | |
| At 31 March 2024 | 19,737 | 98,180 | 45,091 | 7,835 | 170,843 |
| ====================== | ====================== | ====================== | =================== | ========================== | |
| Depreciation | |||||
| At 1 April 2023 | 10,160 | 85,072 | 13,386 | 930 | 109,548 |
| Charge for the year | 2,094 | 3,277 | 6,054 | 1,696 | 13,121 |
| ---------------------- | ---------------------- | ---------------------- | ------------------- | -------------------------- | |
| At 31 March 2024 | 12,254 | 88,349 | 19,440 | 2,626 | 122,669 |
| ====================== | ====================== | ====================== | =================== | ========================== | |
| Carrying amount | |||||
| At 31 March 2024 | 7,483 | 9,831 | 25,651 | 5,209 | 48,174 |
| ====================== | ====================== | ====================== | =================== | ========================== | |
| At 31 March 2023 | 7,695 | 13,108 | 9,352 | 6,616 | 36,771 |
| ====================== | ====================== | ====================== | =================== | ========================== | |
| Debtors | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Trade debtors | 6,853 | 12,770 | |||
| Prepayments and accrued income | 23,301 | 29,380 | |||
| ---------------------- | ---------------------- | ||||
| 30,154 | 42,150 | ||||
| ====================== | ====================== |
16. Debtors
- 15 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 13,700 | 7,732 |
| Accruals and deferred income | 49,742 | 26,608 |
| Other loans | 20,000 | 20,000 |
| Other creditors | 6,251 | 2,179 |
| ---------------------- | ---------------------- | |
| 89,693 | 56,519 | |
| ====================== | ====================== |
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £13,116 (2023: £10,259).
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 1 April | At 31 March | ||||
| 2023 | Income | Expenditure | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 226,629 | 140,172 | (184,531) | (3,297) | 178,973 |
| ========================== | ========================== | ========================== | =================== | ========================== | |
| At 1 April | At 31 March | ||||
| 2022 | Income | Expenditure | Transfers | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 260,802 | 166,556 | (213,850) | 13,121 | 226,629 |
| ========================== | ========================== | ========================== | ====================== | ========================== | |
| Restricted funds | |||||
| At 1 April | At 31 March | ||||
| 2023 | Income | Expenditure | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| (NHS) Leeds Hospital Charity | (1,727) | 13,375 | (11,037) | (611) | – |
| Being You | – | 30,620 | (30,620) | – | – |
| Better Together | – | 15,674 | (15,169) | – | 505 |
| Department of Transport | – | 1,024 | (1,516) | – | (492) |
| Digital Health Hub | – | – | – | – | – |
| Digital Inclusion | – | 10,000 | (5,170) | – | 4,830 |
| Francis Winham Foundation | 5,000 | – | (2,531) | – | 2,469 |
| Get Set Leeds | – | 570 | (586) | 16 | – |
| Health for All | – | (3,694) | (3) | 3,697 | – |
| Healthy Holiday | 3,242 | 16,655 | (19,880) | – | 17 |
| Healthy Warm and Well | – | 4,446 | (4,413) | (33) | – |
| Henry Smith | 21,303 | 58,800 | (60,610) | – | 19,493 |
| Household Support Fund | 984 | 23,800 | (24,078) | – | 706 |
| LCC Christmas Market | – | 1,000 | (749) | (251) | – |
| LCC Lunch Club | – | 3,121 | (2,662) | – | 459 |
| Leeds Christian Church Trust | – | 11,750 | (9,519) | – | 2,231 |
| Leeds City Council | – | 56,840 | (55,605) | (564) | 671 |
| Leeds Fund | 1,723 | – | (1,723) | – | – |
| Leeds Older People's Forum | 3,835 | – | (3,835) | – | – |
| Masonic Charitable | |||||
| Foundation | 3,333 | – | (3,333) | – | – |
| Multiply Round 1 | – | 6,000 | (3,445) | – | 2,555 |
- 16 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
| 19. | Analysis of charitable funds | (continued) | ||||
|---|---|---|---|---|---|---|
| National Lottery | 43,756 | 90,619 | (105,171) | – | 29,204 | |
| National Lottery COL Uplift | – | 5,619 | (2,377) | – | 3,242 | |
| Neighbourhood Matching | – | 5,840 | (3,010) | – | 2,830 | |
| NHS Health and Wellbeing | ||||||
| (Charities Art Project) | 1,170 | 1,000 | (1,325) | – | 845 | |
| People's Postcode Lottery | 12,559 | – | (13,024) | 465 | – | |
| Stay Well This Winter | – | 3,000 | (1,655) | – | 1,345 | |
| Touchstone Support | 2,498 | 8,118 | (10,616) | – | – | |
| Wades | 1,041 | – | (982) | 611 | 670 | |
| Welcome Spaces | – | 2,000 | (1,861) | (139) | – | |
| Other restricted funds | 1,052 | 661 | (1,819) | 106 | – | |
| ---------------------- | -------------------------- | -------------------------- | ------------------- | ---------------------- | ||
| 99,769 | 366,838 | (398,324) | 3,297 | 71,580 | ||
| ====================== | ========================== | ========================== | =================== | ====================== | ||
| At 1 April | At 31 March | |||||
| 2022 | Income | Expenditure | Transfers | 2023 | ||
| £ | £ | £ | £ | £ | ||
| (NHS) Leeds Hospital Charity | 13,375 | – | (15,102) | – | (1,727) | |
| Digital Health Hub | 8,230 | – | (8,230) | – | – | |
| Francis Winham Foundation | – | 5,000 | – | – | 5,000 | |
| Healthy Holiday | 7,236 | 20,345 | (24,481) | 142 | 3,242 | |
| Henry Smith | – | 59,900 | (38,597) | – | 21,303 | |
| Household Support Fund | – | 14,500 | (13,516) | – | 984 | |
| Ideas that Change Lives | 11,703 | – | (3,214) | (8,489) | – | |
| LCC Lunch Club | – | – | (13,277) | – | (13,277) | |
| Leeds City Council | 15,000 | 4,000 | (165) | – | 18,835 | |
| Masonic Charitable | ||||||
| Foundation | 4,554 | 5,000 | (6,221) | – | 3,333 | |
| National Lottery | – | 103,876 | (60,120) | – | 43,756 | |
| NHS Health and Wellbeing | ||||||
| (Charities Art Project) | – | 1,170 | – | – | 1,170 | |
| People's Postcode Lottery | – | 25,000 | (12,441) | – | 12,559 | |
| Touchstone Support | – | 32,473 | (29,975) | – | 2,498 | |
| Wades | – | 2,500 | (1,459) | – | 1,041 | |
| Widening Partnerships | 1,799 | – | (1,799) | – | – | |
| Other restricted funds | 849 | 41,842 | (36,865) | (4,774) | 1,052 | |
| ---------------------- | -------------------------- | -------------------------- | ---------------------- | ---------------------- | ||
| 62,746 | 315,606 | (265,462) | (13,121) | 99,769 | ||
| ====================== | ========================== | ========================== | ====================== | ====================== |
- 17 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
19. Analysis of charitable funds (continued)
Purpose of Restricted Funds:
(NHS) Leeds Hospital Charity - Health and wellbeing support.
Being You - Staff costs and activities to improve mental health in the community.
Better Together - Staff costs for Community Development worker and projects to reduce health inequalities.
Department of Transport - Contribution towards fuel costs from BSOG.
Digital Health Hub - Staff costs to help users access relevant information and tools digitally to improve health and wellbeing.
Digital Inclusion - For digital support to clients.
Francis Winham Foundation - Towards feeding the elderly during the Winter Period.
Get Set Leeds - To promote physical activity.
Health for All - Towards seasonal workers, resources, venue hire and refreshments for projects.
Healthy Holiday - For food parcels, cookery support, organised family activities and events through the school holidays.
Healthy Warm and Well - Provide food and free transport for older people.
Henry Smith - Towards management and salary costs.
Household Support Fund - For the purchase of ambient goods, toiletries and fuel vouchers to support those most in need.
LCC Christmas Market - Promotion, entertainment and volunteer costs for Leeds Christmas Market.
LCC Lunch Club - For provision of meals at lunch club.
Leeds Christian Church Trust - For provision of food, meals, fuel vouchers.
Leeds City Council - Staff costs.
Leeds Fund - Communications and marketing.
Leeds Older People's Forum (Transport Connected) - To support trips using digital apps.
Masonic Charitable Foundation - Part funding for the volunteer co-ordinator post.
Multiply Round 1 - For digital worker salary and tablets for learners.
National Lottery - Towards staffing and organisational activities.
National Lottery COL Uplift - An additional one off sum to support Cost of Living Crisis.
Neighbourhood Matching - For recruiting volunteers and related volunteer activities.
NHS Health and Wellbeing (Charities Art Project) - Towards costs for the Charities Art Project.
People's Postcode Lottery - Towards costs for the expansion of the community shop.
Stay Well This Winter - Support to frail, vulnerable, elderly people by reducing isolation and increasing resilience and self-care through the encouragement of connections between older people in the community.
- 18 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
19. Analysis of charitable funds (continued)
Touchstone Support - To form a new project "Your Space" focusing on mental health.
Wades - Towards exercise class costs.
20. Analysis of net assets between funds
| Unrestricted | Total Funds | ||
|---|---|---|---|
| Funds | 2024 | ||
| £ | £ | ||
| Tangible fixed assets | 48,174 | 48,174 | |
| Current assets | 292,072 | 292,072 | |
| Creditors less than 1 year | (89,693) | (89,693) | |
| -------------------------- | -------------------------- | ||
| Net assets | 250,553 | 250,553 | |
| ========================== | ========================== | ||
| Unrestricted | Total Funds | ||
| Funds | 2023 | ||
| £ | £ | ||
| Tangible fixed assets | 36,771 | 36,771 | |
| Current assets | 346,146 | 346,146 | |
| Creditors less than 1 year | (56,519) | (56,519) | |
| -------------------------- | -------------------------- | ||
| Net assets | 326,398 | 326,398 | |
| ========================== | ========================== | ||
| Analysis of changes in net debt | |||
| At 1 Apr 2023 | Cash flows | At 31 Mar 2024 | |
| £ | £ | £ | |
| Cash at bank and in hand | 303,996 | (42,078) | 261,918 |
| ========================== | ====================== | ========================== |
21. Analysis of changes in net debt
22. Operating lease commitments
At 31 March 2024 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 1,129 | 576 |
| Later than 1 year and not later than 5 years | 493 | 144 |
| ------------------- | ----------- | |
| 1,622 | 720 | |
| =================== | =========== |
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 1,248 | 720 |
| =================== | =========== |
- 19 -
Holbeck Together
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
23. Related parties
During the year, the Charity raised sales invoices amounting to £1,073 (2023: £854) to Westward Care, a company of which Peter Hodkinson is also a director. At 31 March 2024 there was £250 outstanding (2023: £104).
- 20 -