COMPANY REGISTRATION NUMBER: 04110405 CHARITY REGISTRATION NUMBER: 1086714
Motocross Challenge Project Company Limited by Guarantee Unaudited Financial Statements
31 March 2024
BURGESS HODGSON LLP
Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
Motocross Challenge Project
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 16 |
| Notes to the detailed statement of financial activities | 17 |
Motocross Challenge Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name Motocross Challenge Project Charity registration number 1086714 Company registration number 04110405 Principal office and registered The Yard office Abbey Manor Abbey Road Dover Kent CT15 7DQ
The trustees
Mr S North Mr R Newton Mr J Rodger Mr N Castle Mrs S Rodger Mr T Ovendon Company secretary C Newton Independent examiner Robert Field FCA CTA Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
- 1 -
Motocross Challenge Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management
The charity's working name is Motocross Challenge Project. J Rodger is the chairman of the charity. R Newton and C Newton coordinate the activities of the project on a day to day basis.
The Charity is constituted by the Memorandum and Articles of Association. The Charity's registered number is 1086714 and company number is 04110405. The charity's registered office is The Yard, Abbey Manor, Abbey Road, Dover, Kent, CT15 7DQ.
Trustees are appointed in line with the Memorandum and Articles of Association. They are given on appointment full details of the policies and procedures of the Motocross Challenge Project and an overview of key issues affecting young people in the region. They are encouraged to visit the centre and become familiar with the staff and their roles within the project.
The Trustees hold regular meetings with the coordinators to discuss any issues arising. The Trustees are responsible for key policy decisions whilst operational decisions are made by the coordinators and are discussed at staff meetings on a day to day basis.
The Trustees are responsible for the identification and management of risks affecting the project. The major risk identified is that funding from the major funder will not continue. The role of the coordinator is to liaise with existing and potential funders to ensure funding remains in place long term.
Objectives and activities
The objectives of the charity are:
1) The advancement of education and employment opportunities for the young people of the Dover and District area.
2) The provision of facilities for recreation or other leisure time occupation in the interests of social welfare and with the objective of improving conditions of life of those young people living and working in the Dover and District area.
3) Assisting charitable institutions whose work benefits those living and working in the Dover and District area.
4) To create an active partnership between public, private, voluntary and community sectors to enable them to work together for the social integration of the young people of the Dover and District area.
5) To undertake any other charitable purpose in the area of benefit or for those young people living or working in the Dover and District area.
Achievements and performance
The year has seen an increase in the recreational activities provided for young people in the area and improvements in the facilities available.
In the trustees opinion, the activity days continue to benefit both young people and the wider local community.
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Motocross Challenge Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Financial review
The charity's main source of income are fees received from Kent County Council for young people participating in the Motocross Challenge Project. The charity also received fees from other organisations which are detailed in the notes to the financial statements.
The financial accounts show unrestricted reserves carried forward of £85,817 (2023: £82,343). These include fixed assets with a book value of £15,530 which can only be utilised if sold. The charity's available unrestricted reserves are £70,287. The accounts show restricted reserves carried forward of £nil (2023: £35,933). It is the trustees opinion that these reserves were at a satisfactory level for the continuation of the charity's objectives. The trustees are aware that other revenue sources are needed to sustain the Charity for the long term.
Plans for future periods
The trustees are of the opinion that the continued running of activity days for young people will achieve the objectives of the charity.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr R Newton Trustee
Mr J Rodger Trustee
- 3 -
Motocross Challenge Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Motocross Challenge Project
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Motocross Challenge Project ('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
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.
Robert Field FCA CTA Independent Examiner
Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
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Motocross Challenge Project
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 | – | 77,568 | 77,568 | 121,154 |
| Other trading activities | 6 | 7,339 | – | 7,339 | 6,726 |
| Other income | 7 | 691 | – | 691 | 229 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 8,030 | 77,568 | 85,598 | 128,109 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 1,526 | 115,038 | 116,564 | 132,004 |
| Other expenditure | 10 | (1,100) | 2,593 | 1,493 | (2,776) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 426 | 117,631 | 118,057 | 129,228 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net expenditure | 7,604 | (40,063) | (32,459) | (1,119) | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Transfers between funds | (4,130) | 4,130 | – | – | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net movement in funds | 3,474 | (35,933) | (32,459) | (1,119) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 82,343 | 35,933 | 118,276 | 119,395 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 85,817 ৶৶৶৶৶৶৶৶ |
– ৶৶৶৶৶৶৶৶৶ |
85,817 ৶৶৶৶৶৶৶৶৶ |
118,276 ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 14 form part of these financial statements.
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Motocross Challenge Project
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 15 | 15,530 | 23,476 | |
| Current assets | ||||
| Debtors | 16 | 1,830 | 1,469 | |
| Cash at bank and in hand | 78,268 | 98,760 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 80,098 | 100,229 | |||
| Creditors: amounts falling due within one year | 17 | 9,811 | 5,429 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net current assets | 70,287 | 94,800 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 85,817 | 118,276 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 85,817 | 118,276 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Restricted funds | – | 35,933 | ||
| Unrestricted funds | 85,817 | 82,343 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 19 | 85,817 | 118,276 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr R Newton Trustee
Mr J Rodger Trustee
The notes on pages 7 to 14 form part of these financial statements.
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Motocross Challenge Project
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 Yard, Abbey Manor, Abbey Road, Dover, Kent, CT15 7DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
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 - 20% straight line Motor Vehicles - 25% straight line Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Limited by guarantee
The company is limited by guarantee and has no share capital. By virtue of Section 60 of the Companies Act 2006 the company is not required to use the word limited in its name.
In the event of winding up, the members are liable to contribute towards any deficiency up to a maximum of £1 each.
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Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Restricted | Total Funds | Restricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Grants | ||||
| Kent County Council | 27,800 | 27,800 | 40,760 | 40,760 |
| Schools & Youth Clubs | 49,768 | 49,768 | 80,394 | 80,394 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 77,568 | 77,568 | 121,154 | 121,154 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Revenue days and other sales | 7,339 | 7,339 | 6,726 | 6,726 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest received | 691 | 691 | 229 | 229 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Promotion of leisure activities for young people | – | 111,538 | 111,538 | ||
| Support costs | 1,526 | 3,500 | 5,026 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 1,526 | 115,038 | 116,564 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Promotion of leisure activities for young people | – | 126,612 | 126,612 | ||
| Support costs | 1,892 | 3,500 | 5,392 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 1,892 | 130,112 | 132,004 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Promotion of leisure activities for young | |||||
| people | 111,538 | – | 111,538 | 126,612 | |
| Governance costs | – | 5,026 | 5,026 | 5,392 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 111,538 | 5,026 | 116,564 | 132,004 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 10. | Other expenditure | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Gains/Losses on disposal of tangible fixed assets | (1,100) | – | (1,100) | ||
| Printing, postage, stationery and advertising | – | 1,576 | 1,576 | ||
| Telephone costs | – | 1,017 | 1,017 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| (1,100) | 2,593 | 1,493 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Gains/Losses on disposal of tangible fixed assets | (6,025) | – | (6,025) | ||
| Printing, postage, stationery and advertising | – | 2,366 | 2,366 | ||
| Telephone costs | – | 883 | 883 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| (6,025) | 3,249 | (2,776) | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 11. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 11,736 | 13,541 | |||
| Gains on disposal of tangible fixed assets | (1,100) | (6,025) | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| 12. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 950 | 900 | |||
| Other financial services | 1,595 | 1,595 | |||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||||
| 2,545 | 2,495 | ||||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
- 11 -
Motocross Challenge Project
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 | 60,445 | 74,683 |
| Social security costs | – | 439 |
| Employer contributions to pension plans | 1,254 | 1,454 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 61,699 ৶৶৶৶৶৶৶৶ |
76,576 ৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 3 (2023: 6). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Direct charitable staff | 3 | 6 |
| ৶৶৶৶ | ৶৶৶৶ |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No payments were made to the trustees by way of remuneration or reimbursement of expenses apart from: -
Mr R Newton, a trustee of the charity, was paid a salary of £26,000 (2023: £26,000) for nontrustee related services. Mrs C Newton, the wife of Mr R Newton, was paid a salary of £24,960 (2023: £24,960) for non-trustee related services.
15. Tangible fixed assets
| Fixtures and | Motor | |||
|---|---|---|---|---|
| fittings | vehicles | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 Apr 2023 | 15,360 | 75,658 | 16,247 | 107,265 |
| Additions | – | 4,690 | – | 4,690 |
| Disposals | – | (2,200) | – | (2,200) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 Mar 2024 | 15,360 | 78,148 | 16,247 | 109,755 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||
| At 1 Apr 2023 | 13,968 | 53,575 | 16,246 | 83,789 |
| Charge for the year | 1,392 | 10,343 | 1 | 11,736 |
| Disposals | – | (1,300) | – | (1,300) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 Mar 2024 | 15,360 | 62,618 | 16,247 | 94,225 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||
| At 31 Mar 2024 | – | 15,530 | – | 15,530 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At 31 Mar 2023 | 1,392 | 22,083 | 1 | 23,476 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 12 -
Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments and accrued income | 1,502 | 1,459 | |
| Other debtors | 328 | 10 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 1,830 | 1,469 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 17. | Creditors: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 4,189 | 4,150 | |
| Social security and other taxes | 2,049 | 1,180 | |
| Other creditors | 3,573 | 99 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 9,811 | 5,429 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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 £1,254 (2023: £1,454).
19. Analysis of charitable funds
Unrestricted funds
| At | |||||||
|---|---|---|---|---|---|---|---|
| At | 1 | Apr 2023 | Income | Expenditure | Transfers | 31 Mar 2024 | |
| £ | £ | £ | £ | £ | |||
| General funds | 82,343 | 8,030 | (426) | (4,130) | 85,817 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| At | |||||||
| At | 1 | Apr 2022 | Income | Expenditure | Transfers | 31 Mar 2023 | |
| £ | £ | £ | £ | £ | |||
| General funds | 71,255 | 6,955 | 4,133 | – | 82,343 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
- 13 -
Motocross Challenge Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
19. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | 1 | Apr 2023 | Income | Expenditure | Transfers | 31 Mar 2024 | |
| £ | £ | £ | £ | £ | |||
| Motocross Challenge | |||||||
| Project | 35,933 | 77,568 | (117,631) | 4,130 | – | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | |||
| At | |||||||
| At | 1 | Apr 2022 | Income | Expenditure | Transfers | 31 Mar 2023 | |
| £ | £ | £ | £ | £ | |||
| Motocross Challenge | |||||||
| Project | 48,140 | 121,154 | (133,361) | – | 35,933 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
20. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 15,530 | – | 15,530 |
| Current assets | 70,287 | – | 70,287 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 85,817 | – | 85,817 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 23,476 | – | 23,476 |
| Current assets | 58,867 | 35,933 | 94,800 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 82,343 | 35,933 | 118,276 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 14 -
Motocross Challenge Project
Company Limited by Guarantee
Management Information Year ended 31 March 2024
The following pages do not form part of the financial statements.
- 15 -
Motocross Challenge Project
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Kent County Council | 27,800 | 40,760 |
| Schools & Youth Clubs | 49,768 | 80,394 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 77,568 | 121,154 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Other trading activities | ||
| Revenue days and other sales | 7,339 | 6,726 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Other income | ||
| Bank interest received | 691 | 229 |
| ৄৄৄৄ | ৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Total income | 85,598 | 128,109 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 60,445 | 74,683 |
| Employer's NIC | – | 439 |
| Pension costs | 1,254 | 1,454 |
| Rent | 8,524 | 8,637 |
| Light and heat | 730 | 830 |
| Repairs and maintenance | 9,925 | 8,533 |
| Insurance | 3,376 | 2,118 |
| Other motor/travel costs | 1,315 | 3,103 |
| Legal and professional fees | 4,718 | 4,867 |
| Depreciation | 11,736 | 13,541 |
| Other interest payable and similar charges | 308 | 525 |
| Motorcycle repairs and maintenance | 3,126 | 1,829 |
| Site improvement and repairs | 4,736 | 7,085 |
| Fuel | 6,371 | 4,360 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 116,564 | 132,004 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Other expenditure | ||
| Gains/Losses on disposal of tangible fixed assets | (1,100) | (6,025) |
| Printing, postage, stationery and advertising | 1,576 | 2,366 |
| Telephone costs | 1,017 | 883 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 1,493 | (2,776) | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Total expenditure | 118,057 | 129,228 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net expenditure | (32,459) | (1,119) |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 16 -
Motocross Challenge Project
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Promotion of leisure activities for young people | ||
| Activities undertaken directly | ||
| Wages/salaries | 60,445 | 74,683 |
| Employer's NIC | – | 439 |
| Pension costs | 1,254 | 1,454 |
| Rent and rates | 8,524 | 8,637 |
| Light & heat | 730 | 830 |
| Tuition and activities | 9,925 | 8,533 |
| Insurance | 3,376 | 2,118 |
| Travel and subsistence | 1,315 | 3,103 |
| Depreciation | 11,736 | 13,541 |
| Motorcycle Repairs and Maintenance | 3,126 | 1,829 |
| Site improvement and repairs | 4,736 | 7,085 |
| Fuel | 6,371 | 4,360 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 111,538 | 126,612 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Governance costs | ||
| Legal and professional fees | 4,718 | 4,867 |
| Bank charges | 308 | 525 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 5,026 | 5,392 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Expenditure on charitable activities | 116,564 ৶৶৶৶৶৶৶৶৶ |
132,004 ৶৶৶৶৶৶৶৶৶ |
- 17 -