Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
DocuSigned by: 16-10-2024 [Stl61CD5FD4DA4448E... Taylor
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
DocuSigned by: 15-10-2024 =artered
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
No Limits (South)
Consolidated Statement of Financial Activities (Incorporating the Income and Expenditure Account) for the Year Ended 31 March 2024
| Note Income from: Donations and legacies 4a Charitable activities 4b Commercial trading operations 4c Investments 4d Total Income Expenditure on: Fundraising 6 Charitable activities 5 Commercial trading operations Total Expenditure Net (loss)/gains on investments Net Income Transfers Gross transfers between funds 13 Net Movement in Funds Reconciliation of Funds: Total Funds brought forward at 1 April 2023 Total Funds carried forward at 31 March 2024 13 |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 105,146 788,192 893,338 900,412 3,246,553 - 3,246,553 3,068,784 70,888 - 70,888 65,510 55,491 - 55,491 13,944 |
|---|---|
| 3,478,078 788,192 4,266,270 4,048,650 |
|
| 116,779 - 116,779 107,882 3,175,494 786,470 3,961,964 3,831,587 51,412 - 51,412 63,528 |
|
| 3,343,685 786,470 4,130,155 4,002,997 |
|
| 21,514 - 21,514 (5,466) |
|
| 155,907 1,722 157,629 40,187 |
|
| (3,410) 3,410 - - |
|
| 152,497 5,132 157,629 40,187 2,750,319 15,068 2,765,387 2,725,200 |
|
| 2,902,816 20,200 2,923,016 2,765,387 |
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year and therefore no separate statement of the total recognised gains and losses is presented.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
| No Limits (South) | |||||
|---|---|---|---|---|---|
| Consolidated Balance Sheet as at 31 March 2024 | Consolidated Balance Sheet as at 31 March 2024 | ||||
| Group | Charity | Group | Charity | ||
| 2024 | 2024 | 2023 | 2023 | ||
| Note | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible fixed assets | 9 | 814,098 | 814,098 | 817,571 | 817,571 |
| Investments | 9 | 1,134,863 | 1,134,864 | 281,215 | 281,216 |
| Total Fixed Assets | 1,948,961 | 1,948,962 | 1,098,786 | 1,098,787 | |
| Current Assets | |||||
| Debtors | 10 | 304,391 | 305,254 | 462,156 | 443,132 |
| Loan | - | 24,000 | - | 44,000 | |
| Cash at bank and in hand | 1,586,337 | 1,558,844 | 3,227,477 | 3,223,811 | |
| Total Current | 1,890,728 | 1,888,098 | 3,689,633 | 3,710,943 | |
| Assets | |||||
| Creditors:Amounts falling due | 11 | (916,673) | (893,104) | (2,023,032) (2,000,538) |
(2,000,538) |
| within one year | |||||
| Net Current Assets | 974,055 | 994,994 | 1,666,601 | 1,710,405 | |
| Total Assets less Current | 2,923,016 | 2,943,956 | 2,765,387 | 2,809,192 | |
| Liabilities | |||||
| Total Net Assets | 2,923,016 | 2,943,956 | 2,765,387 | 2,809,192 | |
| Funds of the Charity | |||||
| Unrestricted Funds | 13,14 | 1,721,898 | 1,742,838 | 1,552,748 | 1,596,553 |
| Designated Funds | |||||
| Functional fixed asset fund | 13,14 | 795,918 | 795,918 | 817,571 | 817,571 |
| Business transformation fund | 13,14 | 85,000 | 85,000 | 80,000 | 80,000 |
| Business development | 13,14 | 170,000 | 170,000 | 170,000 | 170,000 |
| reserve | |||||
| Property maintenance & | 13,14 | 130,000 | 130,000 | 130,000 | 130,000 |
| improvement fund | |||||
| Restricted Funds | 13,14 | 20,200 | 20,200 | 15,068 | 15,098 |
| Total Funds | 2,923,016 | 2,943,956 | 2,765,387 | 2,809,192 |
The financial statements were prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime within part 15 of the Companies Act 2006. The financial statements have been approved and authorised for issue by the Board on ****.
Signed on behalf of the board of trustees:
Stephen Taylor Trustee 16-10-2024 | StelDocuSign e d by:Taylor
The notes on pages 18 to 35 form part of these financial statements. Company registration number: 4183173
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
No Limits (South)
Statement of Cash Flows and Consolidated Statement of Cash Flows for the Year Ended 31 March 2024
| Note Cash flow from operating activities 18 Net cash flow from operating activities Cash flow from investing activities Payments to acquire tangible fixed assets Payments to acquire investment Income from sale of investment property Interest receivable Net cash flow from investing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 April 2023 Cash and cash equivalents at 31 March 2024 Cash and cash equivalents consist of: Cash at bank and in hand Cash and cash equivalents at 31 March 2024 |
Group Charity 2024 2024 £ £ (846,317) (870,144) (846,317) (870,143) (18,180) (18,180) (832.134) (832,134) - - 55,491 55,491 (794,823) (794,823) (1,641,140) (1,664,967) 3,227,477 3,223,811 1,586,337 1,558,844 1,586,337 1,558,844 1,586,337 1,558,844 |
Group Charity 2023 2023 £ £ 85.810 103.728 |
|---|---|---|
| 85,810 103,728 (28,964) (28,964) - - 131,898 131,898 2,117 2,117 |
||
| 105,051 105,051 |
||
| 190,861 208,779 3,036,616 3,015,032 |
||
| 3,227,477 3,223,811 |
||
| 3,227,477 3,223,811 |
||
| 3,227,477 3,223,811 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
No Limits (South)
Notes (forming part of the financial statements) for the Year Ended 31 March 2024
1 Principal Accounting Policies
Basis of Preparation
No Limits (South) is a company limited by guarantee in the United Kingdom and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
At the time of approving the accounts, the Trustees have considered that there are no material uncertainties about the Charity’s ability to continue. The Trustees have considered the impact of the current cost of living crisis on the Charity’s operations but forecasts indicate that there is sufficient headroom that this does not create a material uncertainty. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The accounts are rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
No Limits Trading Ltd is a 100% owned subsidiary of No Limits.
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of Trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or which have been raised by the charity for specific purposes. Expenditure which meets either of these criteria is identified to the fund.
Designated funds are determined by the Trustees from time to time as being held for specific purposes, for example to hold a reserve in respect of future eventualities such as re-organisation or staff redundancies which may be necessary in the light of predicted funding changes.
Service Provision
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Income in respect of contractual services provided to other agencies is accounted for in the period in which the service is provided and is also included under the heading ‘Income from Charitable Activities’.
Incoming Resources
All incoming resources are included in the Statement of Financial Activities (SOFA) on an accruals basis, except to the extent that grants receivable must be applied to future periods of expenditure or are contingent on future requirements being fulfilled, in which case recognition will be when that criteria has been met.
Income from grants receivable are classified as ‘Voluntary Income’ when they are general in nature in support of the charity’s objectives, as opposed to ‘Contract Income’ where funding is closely linked to agreed project outputs. ‘Contract Income’ is classified under ‘Income from Charitable Activities’ along with income from discrete activities for which a fee is charged, e.g. specific work carried out in schools.
Income is deferred if the funder has expressly stated that grants are to be applied to future accounting periods, or if there is some expectation from the funder that amounts in connection with the grant should be repaid in future periods.
Grants receivable in respect of fixed assets are included in the SOFA in the period in which they are received in accordance with the SORP.
‘In-Kind’ contributions or services donated to the charity are normally valued at cost (as determined by the donor) or a reasonable estimate of actual cost if such information is unavailable.
No amount is included in the financial statements for the volunteer time, in line with SORP (FRS 102). Further information is provided in the Trustee’s Report.
Investment income is recognised on an accruals basis.
Expenditure
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to transfer resources. All costs have been directly attributed to one of the functional categories of resources in the SOFA. Expenditure subject to VAT which is not recoverable is shown inclusive of VAT.
Apportionment of costs across headings of the SOFA is carried out in relation to claims for grant funding. A method based on the allocation of staff time is used for revenue expenditure on direct project activities, premises, management, and administration. As far as possible, depreciation costs are apportioned either to project activities or premises costs using appropriate apportionment criteria.
Costs are allocated to the Governance category where they cannot be clearly allocated to project activities or are of a strategic nature, e.g. insurance and legal expenses.
Pension Scheme
No Limits operates a Group Personal Pension Scheme (defined contribution) provided by AEGON plc. The assets of this scheme are held separately from those of the Charity. Pension costs charged in the SOFA represent the contributions payable by the Charity in the year.
Fixed Assets and Depreciation
It is the policy of the Charity to capitalise assets costing over £5,000 and with an expected useful life in excess of three years. With the exception of freehold property, a full year’s depreciation is charged in the year of acquisition.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Depreciation is provided on the following bases following an assessment of the estimated useful economic life and anticipated residual value:
Furniture and Equipment Straight line basis over 4 years Computer Equipment Straight line basis over 3 years Freehold Property Straight line basis over 25 years with no depreciation charged in the year of acquisition Leasehold Property Improvements Over the remaining life of the lease
Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains/(losses) on investments’ in the SOFA.
Impairment
At each reporting period end date, the Trustees review the carrying amounts of the Charity’s tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. Indicators of impairment may include significant declines in an asset’s market value, evidence of physical damage, significant reorganisation of the Charity or changes in the statutory or political environment in which the Charity operates. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Leases
Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease.
Cash and cash equivalents
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial Instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
Impairment of Financial Assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of Financial Assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic Financial Liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of Financial Liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2 Judgements and Key Sources of Estimation Uncertainty
The trustees consider that there are no material areas of judgement or estimation uncertainty.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
3 Financial Performance of the Charity
The summary financial performance of the charity alone is:
| Income Expenditure on charitable activities Net Income Other recognised gains/(losses) Net movement in Funds for the year Reconciliation of Funds: Total Funds brought forward at 1 April 2023 Total Funds carried forward at 31 March 2024 Represented by: Restricted income funds Unrestricted income funds |
2024 £ 4,195,382 4,195,382 (4,082,131) |
2023 £ 3,983,141 |
|---|---|---|
| 3,983,141 | ||
| (3,947,969) | ||
| 113,251 21,514 134,765 2,809,192 2,943,957 20,200 2,923,757 2,943,957 |
35,172 | |
| (5,466) | ||
| 29,706 2,779,486 |
||
| 2,809,192 15,068 2,794,124 |
||
| 2,809,192 |
4 Incoming Resources
4a Donations and legacies
| Grants Donations & Similar Incoming Resources Donated Services & Facilities |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 53.750 738,903 792,653 798,146 51,396 46,907 98,303 58,316 - 2,382 2,382 43,950 |
|---|---|
| 105,146 788,192 893,338 900,412 |
Income from government grants comprises of grants made by local authorities to fund social related services as described in the Trustees’ report. See below for more information as to the amount and source of these grants.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
| (Note 4a continued) | Unrestricted | Restricted | Total Funds | Total |
|---|---|---|---|---|
| Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Grants | ||||
| Big Lottery Fund – Reaching | - | 156,744 | 156,744 | 212,344 |
| Communities | ||||
| The Blagrave Trust | 53,750 | 18,201 | 71,950 | 67,487 |
| Southampton Hospital Charity | - | 255,000 | 255,000 | 245,000 |
| Peter Harrison | - | 9,000 | 9,000 | - |
| Southern Water | - | 10,000 | 10,000 | - |
| Southampton City Council | - | 13,551 | 13,551 | 42,393 |
| Police & Crime Commissioner | - | 90,247 | 90,247 | 55,300 |
| Go Southampton | - | 28,160 | 28,160 | - |
| Children in Need | - | 32,441 | 32.441 | 32,181 |
| Swire Foundation | - | 16,800 | 16,800 | 25,000 |
| The Big Lottery Fund – Prince’s Trust | - | 956 | 956 | 23,744 |
| Paul Hamlyn Foundation | - | 15,500 | 15,500 | 30,000 |
| Pilgrim’s Trust | - | 10,715 | 10,715 | - |
| Masonic Charitable Foundation | - | 13,977 | 13,977 | - |
| Rayne Foundation | - | 5,000 | 5,000 | - |
| Social Investment Business | - | 21,807 | 21,807 | - |
| Foundation | ||||
| Nationwide | - | 6,800 | 6,800 | 25,000 |
| Charles Hayward | - | 24,017 | 24,017 | 23,833 |
| HIWCF | - | 9,987 | 9,987 | 9,784 |
| Other | - | - | - | 6,080 |
| 53,750 | 738,903 | 792,653 | 798,146 | |
| For the year ended 31 March 2023 | 50,000 | 748,146 | 798,146 | |
| Donations and Similar Incoming Resources | ||||
| Miscellaneous | 45,275 | 41,907 | 87,182 | 55,066 |
| Ardonagh Trust | - | 5,000 | 5,000 | - |
| European Metal Group | - | - | - | 3,250 |
| East Horton Golf Club | 6,121 | - | 6,121 | - |
| 51,396 | 46,907 | 98,303 | 58,316 | |
| For the year ended 31 March 2023 | 45,221 | 13,095 | 58,316 | |
| Donated Services and Facilities | ||||
| Gifts in Kind | - | 2,382 | 2,382 | 43,950 |
| In addition, the Charity has received support from volunteers providing information, advice, counselling and | ||||
| specialist support across its delivery and support teams. | This time and commitment is invaluable and the | |||
| Trustees are not able to value this in monetary terms. |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
| 4b Charitable activities NHS Hampshire, Southampton and IOW ICB Counselling Southampton City Council - DASH Solent NHS Trust NHS Hampshire, Southampton & IOW ICB Hampshire County Council - Frankie Citizens Advice Bureau (Advice, Information & Guidance) NHS Southampton ICB Southampton City Council (Comprehensive Counselling) Breakout Youth MENCAP Portsmouth City Council Southampton City Council (Health & Wellbeing Drop Ins) NHS Frimley ICB/North Hants – Safe Haven YMCA (Housing Related Support) Solent Mind STOP Domestic Abuse Change Grow Live Hampshire County Council – Other Yellow Door Southampton City Council (Other) Income from providing student placements Other For the year ended 31 March 2023 |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 974,383 - 974,383 612,926 752,040 - 752,040 551,093 183,979 - 183,979 268,371 541,065 - 541,065 438,000 129,743 - 129,743 248,945 145,385 - 145,385 137,156 - - - 42,600 - - - 104,151 28.912 - 28,912 26,268 - - - 97,251 19,500 - 19,500 135,643 66,573 - 66,573 66,576 75,862 - 75,862 71,190 - - - 14,381 36,465 - 36,465 36,465 20,000 - 20,000 15,393 38,425 - 38,425 48,518 62,393 - 62,393 62,453 - - - 5,000 159,925 - 159,925 68,140 4,288 - 4,288 5,484 7,614 - 7,614 12,780 |
|---|---|
| 3,246,553 - 3,246,553 3,068,784 |
|
| 3,068,784 - 3,068,784 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
4c Income earned from other activities
The summary financial performance of the subsidiary alone is:
| Turnover Cost of sales and administrative costs Net profit/(loss) The assets and liabilities of the subsidiary were: Current assets Current liabilities Long term liabilities Total net assets Aggregate share capital and reserves Investment Income Unrestricted Funds 2024 £ Rent receivable - Bank interest receivable 55,491 55,491 For the year ended 31 March 2023 13,944 |
Turnover Cost of sales and administrative costs Net profit/(loss) The assets and liabilities of the subsidiary were: Current assets Current liabilities Long term liabilities Total net assets Aggregate share capital and reserves Investment Income Unrestricted Funds 2024 £ Rent receivable - Bank interest receivable 55,491 55,491 For the year ended 31 March 2023 13,944 |
2024 £ 74,275 (51,412) 22,863 34,473 (31,413) (24,000) (20,940) (20,940) Restricted Funds Total Funds 2024 2024 £ £ - - - 55,491 |
2023 £ 74,010 (63,528) |
|---|---|---|---|
| 10,482 | |||
35,802 (35,605) (44,000) |
|||
| (43,803) | |||
| (43,803) | |||
| Total Funds 2023 £ 11,827 2,117 |
|||
| 55,491 | - 55,491 |
13,944 | |
| 13,944 | - | 13,944 |
4d Investment Income
5 Analysis of expenditure on charitable activities
| Charitable Activities* Activities undertaken directly Support costs For the year ended 31 March 2023 |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 2,692,868 710,198 3,403,066 3,265,651 482,626 76,272 558,898 565,936 |
|---|---|
| 3,175,494 786,470 3,961,964 3,831,587 |
|
| 2,991,889 839,698 3,831,587 |
|
| , |
*The Trustees consider that there is one charitable activity, within which there are a number of projects, as discussed in the Trustees’ report.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
6 Allocation of Support Costs
| Fundraising Charitable Activities 2024 2024 £ £ Support costs Governance - 29,470 Finance - 67,350 Information technology - 308,103 Human resources - 83,135 Depreciation - 21,654 Office costs - 49,186 Fundraising 116,779 - Other - - 116,779 558,898 7 Governance Costs Governance costs Auditor’s remuneration Legal and professional fees Insurance Trustee costs 8 Operating Charges Net income for the year is stated after charging: Auditor’s remuneration: - Audit fees Depreciation of tangible fixed assets Impairment of tangible fixed assets Operating lease rentals – land & buildings Operating lease rentals - other |
Fundraising Charitable Activities 2024 2024 £ £ - 29,470 - 67,350 - 308,103 - 83,135 - 21,654 - 49,186 116,779 - - - |
Total Total 2024 2023 £ £ 29,470 28,943 67,350 68,021 308,103 279,253 83,135 77,746 21,654 52,400 49,186 59,573 116,779 107,882 - - |
|---|---|---|
| 116,779 558,898 |
675,677 673,818 |
|
| 2024 2023 £ £ 12,000 11,000 5,632 6,590 11,238 10,095 600 1,258 |
||
| 29,470 28,943 |
||
| 2024 2023 £ £ 12,000 11,000 21,654 52,400 - - 33,000 33,000 12,096 14,906 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
9 Fixed Assets
| Tangible Fixed Assets – Cost or Valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation and diminution in value At 1 April 2023 Charge for the year Disposals At 31 March 2023 Net Book Value At 31 March 2024 At 31 March 2023 |
Charity (also comprising Assets under Construction Freehold Property £ £ - 1,009,266 18,180 - - - |
that of the group) Leasehold Improvements Furniture & Equipment Computer Equipment Total £ £ £ £ 67,557 28,208 53,115 1,158,146 - - - 18,180 - - (7,398) (7,398) |
that of the group) Leasehold Improvements Furniture & Equipment Computer Equipment Total £ £ £ £ 67,557 28,208 53,115 1,158,146 - - - 18,180 - - (7,398) (7,398) |
|---|---|---|---|
| 18,180 1,009,266 | 67,557 | 28,208 45,717 1,168,928 |
|
| - 214,813 - 9,624 - - |
54,304 7,097 - |
28,208 43,250 340,575 - 4,933 21,654 - (7,399) (7,399) |
|
| - 224,437 |
61,401 | 28,208 40,784 354,830 |
|
| 18,180 784,829 |
6,156 | - 4,933 814,098 |
|
| - 794,453 |
13,253 | - 9,865 817,571 |
Impairment tests have been carried out where appropriate and impairment losses in respect of freehold property totalling £nil (2023 : £nil) have been recognised in the SOFA
9 Investments
| Investment in Subsidiary Undertaking Rathbones Portfolios – capital growth Liquidity Portfolio - income Cash deposits – 6 months + Market value at 1 April 2023 Sales Purchases in year Unrealised gain / (loss) At 31 March 2024 |
Group Charity 2024 2024 £ £ - 1 302,729 302,729 400,000 400,000 432,134 432,134 |
Group Charity 2023 2023 £ £ - 1 281,215 281,215 - - - - |
|
|---|---|---|---|
| 1,134,863 1,134,864 | 281,215 281,216 |
||
| 2024 2023 £ £ 281,216 412.695 - (120,000) 832,134 - 21,514 (11,479) |
|||
| 1,138,864 281,216 |
The historical cost of investments on 31 March 2023 was £1,117,898 (2022 : £300,000)
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
The Charity holds 1 share of £1 in its wholly owned trading subsidiary company, No Limits Trading Ltd which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid. The activities and results of this company are summarised in note 4c.
| 10 Debtors Pre-payments and accrued income Other debtors Loan to subsidiary |
Group Charity 2024 2024 £ £ 36,522 36,522 267,869 268,732 - 24,000 304,391 305,254 |
Group Charity 2023 2023 £ £ 87,180 87,180 374,976 355,952 - 44,000 |
|---|---|---|
| 462,156 487,132 |
11 Creditors: Amounts falling due within one year
| Payroll liabilities Deferred income (see note 12) Accruals Other creditors |
Group Charity 2024 2024 £ £ 75,490 75,490 516,371 501,610 130,266 125,656 194,546 190,348 916,673 893,104 |
Group Charity 2023 2023 £ £ 815,942 815,942 861,638 842,876 225,896 223,431 119,556 118,289 |
|---|---|---|
| 2,023,032 2,000,538 |
Payroll liabilities for 2023 included amounts owed to Southampton City Council in respect of staff salaries from March 2022.
12 Deferred Incoming Resources
| Balance at 1 April 2023 Incoming resources deferred during the year Amounts released from previous years Balance at 31 March 2024 |
Group Charity 2024 2024 £ £ 861,638 842,876 516,371 501,610 (861,638) (842,876) 516,371 501,610 |
Group Charity 2023 2023 £ £ 1,065,125 1,050,587 861,638 842,876 (1,065,125) (1,050,587) |
|---|---|---|
| 861,638 842,876 |
Incoming resources deferred during the year relate to grants and income from charitable activities and contract income from commercial contracts which apply to a future period.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
13 Funds
| Restricted Funds i Big Lottery Fund – Reaching Communities ii Big Lottery Fund – Prince’s Trust iii Big Lottery Fund – Reaching Communities - Homelessness iv Big Lottery Fund – Reaching Communities – Early Interventions v Blagrave Trust – Youth Ambassadors vi Children in Need – Stay Safe vii HIWCH #Iwill viii OPCC VRF ix Southampton Hospital Charity x Advice Centre xi Next Steps – Young Offenders xii Go Southampton xiii Paul Hamlyn Foundation – Youth Fund xiv Bright Beginnings xv Social Investment Business Foundation – YIF xvi Various restricted donations Unrestricted Funds Designated functional fixed assets Business transformation fund Business development reserve Property maintenance & improvement fund General purposes fund |
Balance at 1 April 2023 Income/ Gains Expenditure/ Losses Transfers Balance at 31 March 2024 - 60,417 60,470 53 - 6,839 956 9,709 1,914 - 235 39,047 39,282 - - 152 57,281 58,387 954 - - 18,201 18,201 - - - 32,441 32,462 21 - - 9,987 10,036 49 - - 28,246 28,246 - - - 255,000 255,000 - - 3,898 118,615 123,190 677 - 2,240 23,600 25,701 (139) - - 28,160 26,140 - 2,020 1,594 15,500 17,092 (2) - - 52,977 52,977 - - - 21,807 3,627 - 18,180 110 25,957 25,950 (117) - |
|---|---|
| 15,068 788,192 786,470 3,410 20,200 |
|
| 817,571 - 21,653 - 795,918 80,000 - 40,000 45,000 85,000 170,000 - - - 170,000 130,000 - - - 130,000 1,552,748 3,478,078 3,260,518 (48,410) 1,721,898 |
|
| 2,750,319 3,478,078 3,322,171 (3,410) 2,902,816 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
13 Funds contd
| Restricted Funds Big Lottery Fund – Reaching Communities Big Lottery Fund – Prince’s Trust Big Lottery Fund – Reaching Communities - Homelessness Big Lottery Fund – Reaching Communities – Early Interventions Blagrave Trust – Youth Ambassadors Children in Need – Stay Safe Co-op Foundation #Iwill Lester Aldridge Southampton Hospital Charity Advice Centre Next Steps – Young Offenders Go Southampton Paul Hamlyn Foundation – Youth Fund Southampton City Council – Young Adults Employment Hub Southampton City Council – Violence Reduction Unit Dept of Health & Social Care – Health & Wellbeing Fund HIWCF – all together HIWCF – Employment Support Various restricted donations Unrestricted Funds Designated functional fixed assets Business transformation fund Business development reserve Property maintenance & improvement fund Revaluation reserve General purposes fund |
Balance at 1 April 2022 Income/ Gains Expenditure/ Losses Transfers Balance at 31 March 2023 413 - 413 - - 6,839 23,744 23,744 - 6,839 6,746 86,607 93,118 - 235 152 125,737 125,737 - 152 - 17,487 17,754 267 - 7,555 32,181 39,736 - - 7,845 - 7,845 - - 750 - 750 - - - 245,000 245,017 17 - - 78,333 74,435 - 3,898 68 57,800 55,628 - 2,240 - 6,080 6,080 - - 8,734 30,000 37,140 - 1,594 - 22,393 22,393 - - - 20,000 20,279 279 - 2,972 - 2,972 - - - 12,275 12,334 59 - - (2,491) 4,388 6,879 - - 50,045 49,935 - 110 |
|---|---|
| 42,074 805,191 839,698 7,501 15,068 |
|
| 915,059 - 52,400 (48,088) 817,571 100,000 - 86,000 66,000 80,000 250,000 - 80,000 - 170,000 - - - 130,000 130,000 45,948 - - (45,948) - 1,372,119 3,243,459 2,950,365 (112,465) 1,552,748 |
|
| 2,683,126 3,243,459 3,168,765 (7,501) 2,750,319 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
(Note 13 continued)
-
i Lottery funding for 5 years to provide information, advice and support on a wide range of issues to children and young people based in Southampton and surrounding areas.
-
ii Funding received from the Big Lottery Fund for the Prince’s Trust, No Limits and Solent Mind to work in partnership to engage and support young people in Southampton (aged 16-25) who are experiencing or at risk of experiencing mental health issues. The project is designed to help young people build trusting, supportive relationships and develop positive coping mechanisms to manage their mental health and gain confidence in their capabilities.
-
iii The Big Lottery Reaching Communities Preventing Homelessness aims to help young people who are homeless or facing homelessness explore their options; understand and remove barriers causing homelessness; gain necessary life skills to secure and maintain a tenancy and move into independent accommodation or return home.
-
iv Big Lottery Reaching Communities Early Intervention aims to support children and young people who engage with the drop-in on both a short and long term basis with a variety of issues
-
v Funding received from The Blagrave Trust to support youth participation and Youth Ambassadors
-
vi The Children in Need funding is a 3-year project to provide support to young people with multiple vulnerabilities. This is a continuation of a previous project.
-
vii Funding to support Young Carer champions
-
viii Funding from the OPC with the aim to reduce serious violence and knife crime in Basingstoke, Southampton, Isle of Wight and Portsmouth.
-
ix Called the Beacon programme this has helped support children and young people with advice, information, and brief interventions at our Advice Centre, and in schools and colleges. It has also funded a proactive service that provides mental health support and social prescribing to those aged 18 to 26 in Southampton.
-
x A variety of funding received to specifically support the provision of advice to children and young people facing a variety of issues at our Advice Centre.
-
xi One to one support for young offenders by key workers before and after their release.
-
xii Funding to provide detached youth workers in Southampton centre.
-
xiii A 3-year grant to add capacity to the Advice Centre.
-
xiv Funding from a variety of sources to support highly vulnerable young parents aged up to 26 to provide the healthy, stable environment needed for their baby to thrive. This project also delivers the GroBrain Baby course to young parents
-
xv Capital funding to develop buildings at The Avenue to expand local youth facilities and services. Revenue funding to support delivery to improve access, participation and short-term wellbeing of young people
-
xvi Smaller donations, including gifts in kind, given for a specific purpose.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
At the end of the project, where income from restricted funds has not met the full cost of particular activities, transfers have been made from unrestricted funds.
14 Analysis of Funds
| Restricted Funds Designated Funds Designated functional fixed asset fund Property maintenance and development fund Business Development reserve Business transformation fund Unrestricted Funds General purposes fund Restricted Funds Designated Funds Designated functional fixed asset fund Property maintenance and development fund Business Development reserve Business transformation fund Unrestricted Funds General purposes fund 15 Staff Costs and Employee Benefits |
Net Current Assets 2024 £ 2,020 - 130,000 170,000 85,000 587,035 |
Tangible Fixed Assets Total Net Assets 2024 2024 £ £ 18,180 20,200 795,918 795,918 - 130,000 - 170,000 - 85,000 1,134,863 1,721,898 |
|---|---|---|
| 974,055 | 1,948,961 2,902,816 |
|
| Net Current Assets 2023 £ 15,068 - 130,000 170,000 80,000 1,271,534 |
Tangible Fixed Assets Total Net Assets 2023 2023 £ £ - 15,068 817,571 817,571 - 130,000 - 170,000 - 80,000 281,215 1,552,749 |
|
| 1,666,602 | 1,098,786 2,765,388 |
|
The average number of employees during the year was as follows:
| Raising funds Charitable activities Governance |
2024 2023 Number Number 4 4 114 112 4 4 |
|---|---|
| 122 120 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
(Note 15 continued)
The total staff costs and employee benefits was as follows:
| tal staff costs and employee benefits was as follows: | |
|---|---|
| Wages and salaries Employer’s National Insurance contributions Employer’s pension contributions (defined contribution scheme) |
2024 2023 £ £ 2,733,290 2,624,960 229,828 246,954 101,303 102,053 |
| 3,064,421 2,973,967 |
Total redundancy payments amount to £Nil (2022: £Nil).
There was 1 employee who fell within £70,000 to £80,000 (2022: 1).
There were outstanding contributions to the pension scheme at the balance sheet date of £21,075 (2023: £22,515)
16 Trustees’ and Key Management Personnel Remuneration and Expenses
The Trustees neither received nor waived any remuneration (2023: None) during the year.
The Trustees did not have any expenses reimbursed during the year (2023: None).
No trustee has any pension arrangements accruing (2023: None).
Key management personnel comprise the Chief Executive, Head of Services, Head of Finance and Resources and Head of People. Total key management personnel remuneration for the year was £211,443 (2023: £233,504).
Professional indemnity insurance in respect of Trustees and staff was held during the year at a cost of £1,291. This includes Trustee Indemnity insurance premiums of £574.
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
17 Lease Commitments
Operating leases payments represent rentals payable by the company for a property from which it operates and for photocopier and printers which it uses. The property lease has been negotiated for a term of ten years and the equipment lease for five years. Amounts recognised in the Statement of Financial Activities as an expense during the period in respect of operating lease arrangements are £45,096 (2022: £47,906).
The charity had the following future minimum lease payments under non-cancellable operating leases as follows:
| Payments due: Not later than one year Later than one and not later than five years Later than five years |
2024 2024 2023 2023 Land & Buildings Other Land & Buildings Other £ £ £ £ 33,000 12,096 33,000 12,096 - 33,264 33,000 45,360 - - - - |
|---|---|
| 33,000 45,360 66,000 57,456 |
Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291
18 Reconciliation of net income to net cash flow from operating activities
| Net income for year Interest receivable Depreciation and impairment of tangible fixed assets (Profit)/Loss on the disposal of tangible fixed assets Gain on sale of investment property Investment fund charges (Gain)/Loss on revaluation Decrease in debtors (Decrease) in creditors Net cash flow from operating activities |
2024 2023 £ £ 157,629 40,187 (55,491) (2,117) 21,654 52,400 (1) - - (11,898) - - (21,514) 11,479 157,765 113,288 (1,106,359) (117,529) |
|---|---|
| (846,317) 85,810 |
19 Related Party Transactions
There were no related party transactions during the year.
20 Subsidiary Undertaking
The charitable company owns the whole of the issued ordinary share capital of No Limits Trading Limited, a company incorporated and registered in England (company number 11167244). The subsidiary is used for nonprimary purpose trading activities including counselling, training and education. The total taxable profits will be gifted to the charitable company. No Limits Trading’s results are consolidated in these accounts.
~~|~~ Docusign Envelope ID: D8BED9E4-C5B1-4694-BE13-204CB2802291