Charlty ragistratlon numbor 1085653 Company reglstratlon numbgr 02878790 (England and Wales) COLLAR & TIE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
COLLAR & TIE LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trusteos Kri8tofor Darby Harmeet Chagger-Khan Jennrf8r Sollau Dr A Woolner L Walcott-Burlon Mrs M Jones Dr H E Phillps Artlstlc Dlro¢tor {CEO) Paul Sutton Secrelary Sophla Parker Charity number 1085653 Company number 02878790 Registered offlce 5 Deansway Worc8ster Worcestershire WR12JG Independent examln¢r Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Bankers National Weslminsler Bank PIC 1 Thè Cross Worcester WR13PR HSBC Bank PLC 6 Broad Street Worcester WR12EJ
COLLAR & TIE LIMITED CONTENTS Page Truslees. report Independent examin8rt8 report ststement of financlal actlvlties Balance sheel Notes to the financial statements 7-14
COLLAR & TIE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Tru8t6e8 present their annual report and financial slal6m8nts for the year ended 31 March 2024. The fin8ncial statements hav8 been prepared In accordanco with thg accounting policies set out in note 1 to the financial statem&nts and comply with the Charltys memorandum and articles of assoclatlon, tho Companies Act 2006 and "Accounllng and Reporting by Charities.. Slatemenl of Recomm8nded Practlce appllc8ble lo charit18$ preparing their accounts in accordance wlth Ihe Flnancial Reporllng Standard appllcabl& In th8 UK and Republlc of Ireland (FRS 102), (effactlve for aGcounllng periods commencing from 1 January 2019) Objectlves and actlvltles The Charlty's obleclives are to promoté, maintain, improve and 8dvance educallon by the en¢ouragement of the 8rt8. Including Ihe arts of drama, mlm8, dance, slnglng and music, and to fonnulate, prepare and establish schemes therefore provided that all the objects of the Charity Shall be of a charitable nature. The policle8 adopted in furtherance of these obloctlves are.. To use a mlxture of performance. digltal medla and sound pedagogy to create experfences for children, young people and dlsabled people and marginalisèd and excluded communities To build a network of partners wlth whom we deploy thls distinct me(hodology and there has been no change to thesè during the year. Publlc beneflt The Trustees have pald due regard to guidance issued by the Charity Commission In deciding what activltles the Charity should undortake. Achlevements and perfomian¢g 2023124 has been a year of d8velopment for Collar and TIE IC&T), with the company maintalnlng Its work with and for chlldren and young people, schools, and community groups. Prospero, our digital learning and creativity platforni, h88 taken several 81ep8 foard, expandlng and consolidatlng lis funcllonallty and tools, all of whlch bring new benefits to our partners and our end LF88rs: predomlnantly school8 and chlldren. We continued to deliver agalnsl our charltable objectives through our progr8mme of work 8round three maln areas of activlty., Networked Th8atre Collaborations (themed projecls that bTing together our partner8 from around the world), Bespoke projects, whlGh have helped provide momentum for our third maln actlvlty, Prospero. Dellvery of our servlce Prospero is an onllne dlstance learning platform for anyone who wants tr) teach or learn creatively. We have now broadened our approgoh with Prospero from purely addressing theatre and drama to now Include all arts and heritage sectors. Our approach wlth Prospero is threefold: first, lo create new ¢ontont for schools and young people through Prospero, second, expand school and student access to Pr08pero and thlrdly recruit other arts and voluntary sèctor organ18atlons as Prospero Producers, making content for th8mselv8s to distrlbute. As well as creating new content for Prospero through p8rtnershSps with Community groups, we also worked wlth agenci88 and partners ke8n to work with young p8op16 In formal education. However, the climate for arts work In schools remains veTy diificull, wilh government pollcles still hostile to Greative subjects, place in the currlculum. Over twenty arts and community group8 are now worklng wllh u8 as Prosp&ro Producers - p80ple who can creatg and share smartscrtpts In Prospero. These partnerships included theatres and thealr& companles across England - Including. joining us thls y6ar, the Royal Shakespeare Company- unlversities and groups of disadvantaged young P60ple in places such as York and our hom6 city of Worcesler. We contlnued Éo support people in Korogocho, a slum dlstrict of Nalrobl. Kenya, and extended our work collaboration with the N81ional Museum Nairobl and the Trust forAfrican Rock Art. A new project wlth Fort Royal School, fvnded by Arts CounGiI England's Youth Muslc 8cheme, enabling chSldren with Special Edu¢atSonal Needs and Disabilities to make muslc Ihrough Prosporo, culminated with a perfonnance al the school for parents, friends, and families. This work is now expanding to other 8¢hools.
COLLAR & TIE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our Ihr86-year project in partnershlp wilh Worc88ler's Monday Night Club, brought Ihe benefits of Pro8P8ro lo l@arning dl8abl8d adults across Worcestershlre, wlth funding from the Nalional Lottery Communily Fund. Thls focused on the development of twelve Interacllve walks across Worcestershlre, uslng story, poetry, art, and drama to bring land$c8p88 to life Ihrough Prospero. We have played an Instrumental role In leadlng the re-d6v6lDpment of Worcester's derellot S¢ala Theatr6 and Com Exchange. This huge capttal prolect wlll $88 th8se long-abandoned bulldings broughl back into U8e a8 a communlty arts and dlgital medla Centre. W6 h8lppd found the Worcesler Creativg Consortium, a group of local arts organlsatlons leadlng thls rodevelopment In partnershlp wlth Worcester Clty Councll. We see tho S¢ala 8$ being crucially important lo facilitating how C&T will work wilh local people, schools, and groups in futu years. Promotlon of Creatlvity & Tea¢hlng We have contlnued to lake every opportunity to promote the arts and our dIstIn methodology as a means to advance gducallon. Presentallons wgro mad& at ov&nts at Royal Cfjntral School of Speech and Drama, Bimiingham. Worcester and In Now York Clty, through our partnership with the Glty's Department for Education. Prospero was named 'Out5tanding Drama Educallon Rosour¢e' In January 2024 at the Muslc and Drama Education Award$. We attended the Internatsonal Forum for Theatre Research Conference in Gh8na, presenting our Rock Arl proloGt to 8 wide and dlverse audience. Flnanclal revlew The Statemont of Flnanclal ActSvlUes shows Incomlng resource8 of £223,625 12023: £271,698), all relatlng to unrestrlcted lunding. A8 a recognlsed National Portrollo organlsatlon Income is recelved from Arts Councll England, this Is detailed In not6 4 to the financial statemenls. The Charltable company does not Cary out signlficant fund raising activtties. Unreslrided reserves, being the total reserves of the charity, stand at £114,441 (12023}'. £116,771), which after allowlng for tanglbla flxed assels gives freo resorves of £96,60912023: £102,036}. Roserves policy It 18 the poll¢y of the Charlty that unr6strl¢ted funds whlch have nol been designated for a Specific use should b& malntained al an appropriate level of up to slx month's expenditure. The Trustees consider that reserves at this level wlll ensure that, In the event of a slgnSflc8nt drop in fundlng, they wlll be able lo contlnue the Charity's current aclivilies whlle conslderalion is given to ways in whlch additional funds may be raised. This level of reseTV85 ha5 been malntalned Ihrou9hout the year. Rlsk management The Trustees maintain a rlsk management slrat8gy, which comprlsos: an ongolng review of Ihe rlsks Ihat Ihe Charity fa¢88 and the Implementation of systems lo assess rfsks continuously- the esiabllshment of systems and procedures to mltlg8te the risks Idenllffed: the Implementatlon of procedures to mlnimise any pot6ntlal Impact on the Charlty should any of those r18ks materfallsa. Plans ft)r futuro porlods We are continuing our Digi181 Flrst 8pproach to our 88rvices and charitabl8 actlvities, maximising Prospero's potential to support ereativity, leamlng and community development remotely. We will contlnue to support other ¢harities wllh whom we share values and oblectives, deploylng Prospero to our mutual advantage. We are targeting our financial and human resources to 8UPPOrt this work, reducing expenditure in other areas in light of thls focus. We wlll contlnue to refine and Invest In this strategy as local. regional, and intemallonal condillons allow. Our currenl three years of funding from Arts Councll England has been extended by a further year,. in acknowledgment of the current challenging financial dimate. This will enable us to develop new work In areas such as educatlon, health and social care. cdminal lusllce, and vocational Iraining.
COLLAR & TIE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 stru¢ture, govérnance and management Th8 Charity is a charitab16 Company Ilmlted by guarante8 Incorporaled on 8 December 1993 8nd as amended by specSal resolutions dated 16 June 2000, 22 March 2005 and 27 September 2005. The Charlty was established under a Memorandum of Association that establlshed the oblecls and powers of Ihe ¢h8ritable company and Is governed under ils Articles of AssoGlation. The Charily reglstered wllh The Chadty CommlssSon for England & Wales on 19 March 2001. The Trustees, who are also the Dlrectors for the purpose of Company law, and who served during the year were: Kristofor Darby Harmeet Chagger-Khan Jennifer Soltau DrA Woolner L Walcoll-Burton Mrs M Jon88 Dr H E Phllips Th8 Board has the power to appoint additional Dlrectors as il considers fit to do so. Direotors are rocruited from across a wlde rang& of 8xpert186 relevant to Ihe actlvltle$ of Ihe Charlty Includlng Ihe art8, educatlon and buslness. These positions are publicly advertised and appointmonts aTe mado Ihrough a selectlon procoss managed by the eXIsng Dire¢tor8 and Ihe Arllstlc Director and fom)ally approved by the Board. A retlring Dire¢tor should be elSgible for re-eledion provided such retiring Diraclor has nol served as a Director lor a contlnuous p8riod of 6 y8ars Immediately prior to 8uch re-918clion. None of the Trustees has any beneficial intorest In the Charity. All of the Trnstees are members of the Charity and guarantee to contribute £1 In the event of a wlndlng up. The Memorandum & Articles of Assodalion permit the Charity lo enlor into contracts with Trustees wherg the goods or servlces 8ubjecl to contract are properly requlred by the Charity. The Board meets quarterly to manage the affalrs of the Charlty. An Artlstlc Director 15 appointed by the Trustees. The Board Is rosponslble for agreelng strateg5¢ and buslng$9 plans, poli¢y settSng, approval of budgets, ensuring legal compliance and risk management. The day to day management of the Charitvs affalrs is delegated to the Artlstic Dlrector who18 the Chlef Executlve Officer, and who Is responslble for developlng strateglc and artlsliG plans for approval by the Board, and for ensurlng the delivery of those plans. On beh81f of the Board ofTrugtees Kristofor Darby Trustee 25 September 2024
COLLAR & TIE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLLAR & TIE LIMITED I report to the Twslees on my gxamlnatlon of the financlal 8lalemenls of Collar & The Llmlted (the Charilyl for Ihe year ended 31 March 2024. Responslbllltleg and basis of report As th8 Trust8es of thg Charlty (and 8180 Its directors for the purpos8s of company law) you are r8sponsiblg for tha preparallon of Ihe flnancial statemonls in accordance wlth the requiremonts of tha Companles Act 2006 (the 2006 Act). Having satlsfled myself that the ffinanclal statements of the Charlty ar& not requlred to be audlted under Part 16 of tha 2006 Act and are eligible for Sndopend8nt gxamlnatlon, I report in respecl of my examlnation of the Ch8rity'8 financial stalemonts carried oul under section 145 of the Charltles Act 2011 (the 2011 Act). In carrylng out my ex8mlnalion I hav8 followed all the applicable Directlons glven by the Charity Commisslon under secllon 145(5)(bl of the 2011 Act. Independont examlnet's statemant I have completed my examination. I nfim} that no matters have come to my attentlon In connection wlth the examination giving me cause to believe that in any mat&rlal respect: accountlng records were not kept In regp&¢i of Ihe Charity as required by seclion 386 of Ihg 2006 Act. or the financlal statements do not accord with thos8 records,. or the financial statgm8nts do not Comply with the accounting raquir8ments of se¢tlon 396 of the 2006 Act other than any requlrement Ih8t the accounls giv8 a true and falr view which Is not a matter consldered as part of an independent examin8tlon', or Ihe financial stat8ments have not been prepared in accordance with the methods and prlnciples of the Stat8mgnt of Recomm&nded Pradica for accounting and reportlng by charit185 applicable to charilies preparlng their accounts in accordan¢e wlh Ihe Flnancial Reportlng Standard applicable in the UK and Republic f Iroland (FRS 102}. ems and have come across no oth8r matters In connecllon wlth the examination to which attention thi8 r8porl in order to enable a proper understandlng of the financlal statements to be reached. ou ra Ellzaboth Needham ACA CTA IVAT) Kendall Wadley LLP Grants Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated: 25 September 2024
COLLAR & TIE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Unrestrlcted funds 2023 Note8 Income from: Donations and legacies Charltable a¢livilies Investment8 18 222,658 949 3,186 268,503 Total In¢ome 223,625 271,698 Expondlturfy on: Charitable actlvlties 224,567 271,682 Total exp8ndlturo 224,567 271,682 Net Incomel{expendllure) (942) 16 Other re¢ognised gains and losses: Other gainsl{108s6sl (1,388} 1,945 Net movement In fund8 {2.330) 1,961 Reconclllatlon of fvndg: Fund balances at 1 April 2023 116,771 114,810 Fund balan3 at 31 March 2024 114,441 116,771 The stalement of financlal activities includes all galns and Ios6es recognised in thé year. Ail income and expenditure derlve from contlnulng actlvlllès.
COLLAR & TIE LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed a83ets Tangible assets 11 17.832 14,735 Current assets Debtors Cash at bank and In hand 12 49,211 92.883 62,438 53,398 142.094 115,836 Creditors: amounts falling due within one yoar 13 138,886) (13.800) Net current assets 103.208 102.036 Tolal assgts less ¢urront Ilabiliti8S 121,040 116,771 Croditors: amounts falllng due after more than one yoar 14 16,599) Net assets excludlng penslon Ilablllty 114,441 116,771 Net assets 114.441 116,771 Tho funds of Ihp Charlty Unrestrictod funds 114.441 116,771 114,441 116.771 The company entitled to the exemption from the audlt requirement contalned in section 477 of the Companles Act 2006. for the year ended 31 March 2024. The dlrectors acknowledge th8ir responsiblllties for complying with the requlrèmenls of the Companies Act 2006 with respect to a¢couT)ting records 8nd the preparatlon of financial 6tstem&nts. The memb8rs have not requlred the company to obtain an audlt of Its financlal slatements for the year in question In accordance wlth sectlon 476. These flnancial statements have been prepared in accordance wlth thè provislons applicable to companies subject to the small companies reglme. The flnanci81 statements were approved by the Trustees on 25 September 2024 Jennif8r Solt8U Trusteo Company regislralion number 02878790 (England and Wales)
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Charity Infonnatlon Collar & Me Llmlted 18 a private company limlted by guarantee incorporated In England and Wales. The reglstered office Is 5 Deansway, Worcester, Worce$ter8hSre, WR12JG. 1.1 Ac¢ountlng convontlon The accounts have b&on preparod in a¢¢ordance with the Charity's memorandum and artl¢les of associatlon, tho Companies Act 2006 and 'Accounling and Reporting by Charities: Statement of Re¢ommended Practice applicable to charities preparing thelr accounls in accordance wllh the Flnanoial Reporting Standard appllcable in the UK and Republ1¢ of Ireland (FRS 1021" leffectiV8 for accounting periods commencing from 1 January 20191. The Charity Is a Public Benoflt Entity as defined by FRS 102. Tho Charfly has taken advantage of the provislons in the SORP for charilles applylng FRS 102 Updale Bulletin 1 not to prgpare a Statement ol Cash Flows. The financial Statements are prepared in st8rllng. which Is th8 fijnctional currency of the Charity. Monetary amounts In Ih8se financial stalemenls ar& roundod to the ngaresl £. The financi81 statements have been prepared under the historlcal oosl convention. The principal accountlng poIiGies adopled are sel out below. 1.2 Golng concern Al the Ilm8 of approvlng the finandal statements, th8 Trustees have a r8asonabl8 9xpeclatlon Ihat thg Charity has adequate resourc8S to continue in operalional existence for Ihe foreseeabl8 fvture. Thus the Trustees continue to adopt the going con¢em basls of accounting In preparlng the flnancial statements. 1.3 Charltable funds Unreslricted fvnds are available for use at the dlscretlon of the Trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised when the Charity Is legally entitled to it aft6r any p8rformance conditlons have been met, the amounts can be measured reliably, and it is probable that Income wlll be recelved. 1.5 Expendltuye R8sources expended ara re¢ogni8ed In lh& perlod in whlch the goods or s&rvlces are received. Resources gxpended Include allributable VAT which is not recoverable. Resources expended are alloGated to Ihe parllcular activity wher& the Cost relates direclly to thal aotivity- Govemance costs include those costs Incurred In the gov8manc8 of the Charlty and ils assets 8nd are primalY gssoclated wllh conslitullonal and statutory requlrements. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at Cost or valuallon. net of depredation and any ImpaTrment10s888. Depreclation is recognlsed so as to wrtto off the cost or valuallon of assets less Iheir resldual values over thelr Useful lives on Ihe following bases.. Fixtures, fittings & equipment Motor vehicl88 33.3010 Straight line 250/0 8tralght line The galn or108s arlsing on the disposal of an asset Is determlned as Ihe difference b&tween Ihe sale proceeds and the carrySng value of the asset, and Ss recognlsed In the slatement of financial activities.
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollGles (Contlnuedl 1.7 Impalrment of flxed assets Al each reportlng end date, the Charlty revlew8 th6 carrylng amounts of it8 tanglble assets to detennin8 whether Ihere Is any Indlcation that those assets hav8 suffered an Impalrmenl 1088. If any such Indicallon exists, the recovorable amount of the asset Is estimated In order to determine the 8xtenl of the Impalmient Eoss (if any). 1.8 Cash and cash equlvalenls Cash and cash equlv81enls Include cash In hand and deposits held at call wtlh banks. 1.9 Flnanclal Instrumgnts The Charity has elected lo apply the provisions of Sectlon 11 'Ba$ic Financial Instruments. and SeGtion 12 'Olher Financial Instwments Issueg, of FRS 102 to all of ils flnanclal Instruments, Financlal instruments are recognlsed In the Charlty's balance sheet when tha Charlty becomes party to the contractual provlslons of thg Instrument. Financlal assots and liabilities are offset, with the n6t amounts presented in the flnancial statements, when there 18 a legally enforceable rlght to set off the recognlsed amounts and there Is an intention to settl6 on a net basls or to r881188 the ass&t and s81118 th8 Ilablllty simultaneously. Basic flnan¢lal a$sets Baslc financial a888ts, whlch Include debtors 8nd c88h and bank balances, 8re InlalIY measur8d al transaction prfce Includlng transaction Costs and are subsequently canied at amortl8ed cost uslng the effeve interest method. Financial asset8 classlfied a8 recelvable wllhin one yeai afg nol amortlsed. Ba$1¢ flnanGlal liabilltl•s Basic linancial liablllties, including creditors are Snltially recognlsed al transactlon prlce. Flnancial liabilities classified as payable wlthin one year are not amortised. Trade credttors aro obllgallons to pay for goods or 89rvice8 that hav& been acquired In lh& ordinary course of operations from suppliers. Amounts payable ar6 classlfled as curr&nt liabilitl8s if payment is due withln one year or less. If not, they are presented as nOnUrrent Ilabilities. Trade credltors are r8cognised initially at Iran5action prtce and 6ubsgquently measured at amortised wst using the affectlve Interest method. Dere¢ognltlon of flnanclal liabllltles Flnancial Ilabilities ar8 derecognis&d when the Charlty's contractual obllgations expire or are dlscharged or cancelled. 1.10 Employge benefits Th8 Cost of any unused holSday enlluement Is recognlsed In Ihe perlod In whlch the employee'8 seN1$ are received. 1.11 Retlroment benellts The Charity operates a defined contribution pension scheme for employ8es. The assets of the scheme are held separately from those of the Charily. The annual contrlbutlons payable are charged lo the stalemenl of flnanclal actfvitles. 1.12 D•forY¢d Incoma Income 18 deferred where the Charlty is not yet entitled to the use of the resources. When Ihe pre-condillons for use are mgt then the income is released.
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AcGountlng pollcles (Conunued) 1.13 Llabillties Llablllues are recognlsed as soon as there 18 a legal or constructive obllgauon committing the Charlty to expendilltre. Crltical accounting ostimatos and Judgements In the appllcation of the Charity's acutIng poli¢les, the Trustees ar8 required to make judgements, 88tlmat8s 8nd assumptions about tho catrylng amount of assets and Ilabllltles that ar9 nol roadily apparent from other sources. The estlmates and associated assumptions are based on historical experlence and other factors th8t are consldered to be relovant. Actual results may differ from these estimates. The ostlmales and underlylng asgumptions are revlewed on an ongoing basis. Revlslons to accountlng e8tlmates are recognl8ed In the period In whlch the estlmate is revi8ed where the revislon aff8Cts only that perlod. or in the period of tho revision and future periods where Ihe revlslon affects both current and future period8. Incom9 from donatlons and logacles Unrestrlcted funds 2024 Unreslrlcted funds 2023 Donatlons and glfts Govemment grants 18 3,181 18 3,186 Grants recelvablo tor ¢ore a1vItIeS West Midlands DWP- Kickstart 3.181 3,181
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltablè a¢tlvltle$ 2024 2023 Income 9onerat8d from, and grants within, charitable activities 222,658 268,503 Grants recefved Arts Council England - National Portfollo Worcester Clly Councll Worcestershire County Council Arls Councll England - National Lottery Project Grants West Midlands International Trade The Natlonal Foundallon for Youlh Muslc 72,696 72,696 17,684 7.426 44,946 44,946 5,940 10,875 10,875 135,943 152,141 Income from Inve8tments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interesl recelvable 949 10-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable acllvltles 2024 2023 Slaff GOgt8 D8precSallon and impalmient Production cost8 Staff tralning Marketing 91,664 13,666 24,698 1,667 2,812 121,108 8,967 32,115 521 15,894 F il Conferences Travelllng and motor expenses Meeting costs offi costs Insurance Subscriptions Office rent Bank charges Freelance project workers 1,591 19.684 2,820 15,674 1,498 1,795 5,128 346 13,256 530 32,246 2,343 15,722 1,689 1,021 5,313 509 7,331 196,297 245,309 Share of governance costs (so8 nots 7) 28,270 26,373 224,567 271,682 Govèrnan¢o costs 2024 2023 Ba$18 of allocatlon Staff costs 23,880 21.926 Chadtable aGtivity Board meeling costs Legal and professional fees Independ&nt 8xamlners fees 510 1,108 2,772 183 Govemance 1,746 Governance 2,518 Govemance 28,270 26,373 Analysed b8tWoen Charitable 8Ctivltles 28,270 26,373 Trusteos None of the Trustee8 received any remunerallon during the year {2023 - £nll} and 1 Trustee was rtrimbursed expens8s durlng the year to the value £68 (2023- £nlll. Taxatlon The charity Is exempt from tax on Income and gains falllng withln s6Ctlon 505 of the Taxes Act 1988 or secllon 252 of the Taxalion of Chargeable Gain8Ad 1992 to the extent that these are appllod lo Its charitable oble¢ts. 11
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees Th8 average monthly number of employees durlng th8 year was: 2024 Number 2023 Numbor Management and charitable activitles Admlnistration Tolal Employment Gosts 2024 2023 Wages and salaries Social seGurity costs Other pension costs 101,682 5,895 7,967 126,743 7,540 115.544 143,034 The number of employees whose annual remuneration was more than £60.000 is as follows: 2024 Number 2023 Number £80,001 to £70,000 12-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tanglble fixèd as$ets Flxtur88, fittln98 & equlpmènt kqotor vehlclgs Total Co$t At 1 April 2023 Additions Dlsposa15 91,920 17,953 (2,458) 23,980 115,900 17.953 (2,458) At 31 March 2024 107,415 23,980 131,395 Depreclatlon and Impalrment At l April 2023 Depreclation charged in the year Elimlnated In respect of dlsposals 77,185 12.907 (509) 23.980 101.165 12,907 (509) At 31 March 2024 89,583 23,980 113,563 Carrylng amount At 31 March 2024 17,832 17,832 At 31 March 2023 14,735 14,735 q2 Debtor8 2024 2023 Amounts falllng due wlthln one year: Trade debtors other debtors Prepayments and acctued Income 38,669 45 10,497 58,861 3,577 49,211 62,438 13 Crodllor8: amounts falling dua wlthln ona year 2024 2023 Olher taxation and soclal security Trade creditor8 Accruals and deferred income 3,922 7.190 27,774 3,504 10,296 38.888 13,800 13-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Credltor8: amounts falllng due after more than one y8ar 2024 2023 Deferred Incom8 6,599 The deferred income shown above together wllh £24,485 (2023 - £7,118) included In current liabilili88, relal8S to subscriptions for the use of Prosp8ro for perFods ranging from 1 to 5 years. The income is released ovor th8 Ilfe of the agreement. Of the long lerm amount, £2.667 wlll be released tr) Income In the y88r to 31 March 2026. 15 Analysls of ngt assets between funds Unrestrlcted Unrestrlcted funds funds 2024 2023 Fund balances at 31 March 2024 are represented by: Tangibl8 assets Current as88tsllliabilities) Long term liabilitles 17,832 103,208 (6,599) 14,735 102,036 114.441 118,771 16 Rolat9d party tran$a¢tlon$ There were no dlsdosable related party Iransactlons durSng Ihe year12023 - none). -14-