REGISTERED COMPANY NUMBER: 04321173 (England and Wales) REGISTERED CHARITY NUMBER: 1090439
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 November 2023
for
Eckington Development Company
Eckington Development Company
Contents of the Financial Statements for the Year Ended 30 November 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 to 12 |
| Notes to the Financial Statements | 13 to 19 |
| Detailed Statement of Financial Activities | 20 to 21 |
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
Page 1
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is to create training and employment opportunities by the provision of workspace, buildings and land use on favourable terms to local commercial and non commercial entities.
In particular:
(a) The maintenance, improvement and provision of public amenities;
(b) The provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need for such facilities;
(c) The advancement of education, training, or retraining, particularly amongst unemployed people, and providing unemployed people with work experience;
(d) The provision of financial assistance, technical assistance or business advice and consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business, the promotion of public safety, or the prevention of crime.
Our charity's purposes as set out in the objects contained in the company's Memorandum of Association and are summarised as follows:
The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation, and in particular Eckington.
The aims of our charity state that we would like to see Eckington as a clean, safe, healthy, vibrant, attractive and accessible community, enjoyable to live in and visit, with successful businesses and shops.
We review our aims, objectives and activities each year the annual general meeting. This review looks at what we have achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to the town and its community. The review also helps to ensure the aims, objectives and activities remain focused on our stated purposes.
The Charity's main objective for the year continued to involve attracting small to medium businesses to locate within the town by locating within one of the two business centres which the charity operates.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity carries out a range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefit to the wider community of the Eckington Parish.
Eckington Business Centre 1, opened in 2005, consists of sixteen offices offering managed workspace aimed at small embryonic businesses, the centre has maintained high occupancy levels since opening with some very long term tenants.
Page 2
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
Eckington Business Centre II, was opened in 2007, consists of fourteen offices offering managed workspace to growing enterprises; the centre has maintained high occupancy levels since opening.
The main purpose of both of these centres was to attract business people to locate within the town centre who would then spend their disposable income in the local shops and facilities helping to improve the economy of the town.
An additional purpose was to provide job opportunities to local people and indeed a high proportion of the tenants all live within a three mile radius of the town.
Both centres have meeting space which is utilised by both businesses in the centres and the surrounding area facilities which are not otherwise available within Eckington
Eckington Business Centre II has a large room available for hire to the local community for a wide range of activities such Zumba, Pilates and Boxercise. Although other such facilities are available within the town none are as modern or purpose built. Many businesses hold there conferences and meetings within the business centres.
The company owns a colour photocopier and provides a laminating, binding, faxing and copying service to the local community.
Page 3
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
ACHIEVEMENT AND PERFORMANCE
Eckington Development Company had another successful year and maintained its stable financial position. Occupancy levels were very high, with only one vacant office available and the website and Facebook page launched the previous year were key to maintaining this high level of tenancy. Refurbishment continued across both buildings where necessary, and this will continue over the coming year. Bookings for the meeting room remain strong, with a small number of tenants booking full days frequently which supported our overall financial position. At the end of the financial year the outstanding loan value to Social Investment Business was below ten thousand pounds and should be full paid by the summer of the coming year.
Over Christmas 2022 the Directors and staff once again secured funding and put together food hampers for local people and families suffering financial hardship. Fifty hampers were produced for families and twenty for the elderly. The community food pantry goes from strength to strength and further funding was secured from Foundation Derbyshire to support the running costs and purchase additional food items to supplement the Fareshare subscription. The new shop opening hours have worked much better throughout the year and allow people who are working the flexibility to visit the shop. It opens all day on a Wednesday and is staffed by three reliable volunteers who help the customers with their shopping. The pantry remains a joint project with Rykneld Homes and the Parish Council although most of the daily tasks are undertaken by Business Centre Staff and around twenty-five families benefit each week. Funding was secured through Foundation Derbyshire from Derbyshire County Council to purchase and provide free cleaning and hygiene products through the pantry which have proved very popular.
In conjunction with Rykneld Homes and the Parish Council funding was secured to provide activity and fun days for local children during the school holidays with particular emphasis placed on Christmas and summer school holiday events. Every child who attends an event with their parents is given a free lunch and the project is primarily aimed at children on free school meals, it is estimated that around four hundred children benefited over the course of the year. The sessions were very popular, and it is hoped we can expand this project next summer. Also, during the school summer holiday a breakfast club was lunched in Marsh Lane where families on free school meals could collect a bag of breakfast food items, around twenty families benefitted each week, and it is hoped that the same project will run next summer and be extended to cover Renishaw as well.
The summer festival held in July was well supported by the local community with over two thousand attendees and built on the success of the previous years. Additional funding was secured which allowed for improved facilities to be provided greatly improving peoples enjoyment on the day. By the end of the financial year in November 2023 the company once again finished in a strong financial position.
Page 4
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
FINANCIAL REVIEW
The company works within budget and has policies in place to continue to work as a stand alone community enterprise. Once consolidation is achieved, surplus capital generated will be maintained as reserves for unplanned expenditure. Although we do not possess a written policy, it has been minuted at the Directors' Meeting that this is to be an objective.
Plans for the future
Eckington Development Company will continue to focus on its core business of providing managed office accommodation to small and medium company's over the coming year. Further marketing needs to be carried out and a new website has been completed. Developing relationships with other organisations has been identified as the key to increasing the usage of the meeting rooms and this will be the priority over the coming year.
Going Concern
The Trustees have not identified any material uncertainties related to events or conditions that may cast a significant doubt about the charity's ability to continue as a going concern.
Page 5
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Eckington Development Company is a registered charity, (Charity number: 1090439), and a company limited by guarantee, (Company number: 4321173).
The charity was incorporated on 12th November 2001 and is governed by its Memorandum and Articles of Association. All powers of management and control are vested in the charity's board of trustees.
The management of the charity's affairs is carried out by the board of trustees. The trustees meet regularly and direct the policy and overall management of the affairs of the charity. The day to day operational management of the charity is delegated to the charity's on-site staff, but all major expenditure is approved by the trustees.
The trustees meet regularly to formulate general policy. They are ultimately responsible for the day to day management of the charity, including the appointment and discharge of staff, the making, enforcing and altering of rules, and are the authority for all expenditure. Trustees are elected or re-elected as required under standard Companies Act principles amended as detailed in the organisation's constitution. Newly appointed trustees are offered support and 'on the job' training from previously experienced existing trustees and are given the opportunities to attend any further training thought required.
The income and property of the charity shall be applied solely towards the promotion of its objects as set forth in the Memorandum of Association. No portion thereof shall be paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to members of the charity. No member of the board of trustees shall be appointed to any office of the charity paid by salary or fees. Neither shall they receive any remuneration or other benefit in money or kind from the charity.
The charity has the power to invest its monies not immediately required for its objects in or upon such investments, securities or property as may be thought fit. The charity shall take or hold any property which may be subject to any trusts. The charity shall only deal with or invest the same in such manner as allowed by law, having regard to such trusts.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
A Jenkins M Fry P Calpin B Gash - resigned 01/07/23 R Kaur A L Talford S Mclean K Gill - appointed 27/07/2023
The existing trustees are responsible for the recruitment of new trustees and seek to identify people from the local community who are willing to assist in the company's aim of making Eckington a better place in which to live, work and socialise.
Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities. If a majority agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's ability, personal competence, special knowledge and skills.
Page 6
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
Following appointment, new trustees are introduced to their new role and given copies of the company's Articles of Association and a number of publications from the Charity Commission including a guide to good governance and a guide on charities and public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act.
The trustees are responsible for the general control and management of the charity. They give their time freely and receive no remuneration or other financial benefits.
The trustees meet together as a body monthly and are responsible for all major decisions taken in relation to running the business centres and the community facilities and activities provided by the charity. To assist in the smooth running of the charity, day to day managerial tasks are delegated to the business centre manager.
The charity is a member of Locality and receives advice and guidance from a mentor funded by the Adventure Capital Fund as part of their ongoing partnership with the company.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The major risk to the charity is considered to be that of sufficient funding not being generated in order to maintain the charity as a going concern.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04321173 (England and Wales)
Registered Charity number
1090439
Registered office
62 Market Street Eckington Sheffield South Yorkshire S21 4JH
Trustees
A Jenkins M Fry P Calpin B Gash - resigned 01/07/2023 R Kaur A L Talford S Mclean K Gill - appointed 27/07/23
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 7
Eckington Development Company
Report of the Trustees
for the Year Ended 30 November 2023
.......................................................... Mrs A L Talford - Trustee
Page 8
Independent Examiner's Report to the Trustees of Eckington Development Company
Independent examiner's report to the trustees of Eckington Development Company ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts 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.
Chris Pheasey, MAAT, ACMA, CGMA The Association of Accounting Technicians
Date: .............................................
Page 9
Eckington Development Company
Statement of Financial Activities
for the Year Ended 30 November 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Incoming Resources from Charitable Activities 167,500 Festival Grants - Community Pantry Grants - Other trading activities 2 3,233 Investment income 3 24 Total 170,757 EXPENDITURE ON Charitable activities Charity Staff Costs 80,313 Premises & Building Overheads 58,048 Operational Administrative Expenses 25,918 Incoming Resources from Charitable Activities - Governance Costs 1,735 Other 835 Total 166,849 NET INCOME/(EXPENDITURE) 3,908 RECONCILIATION OF FUNDS Total funds brought forward 135,201 TOTAL FUNDS CARRIED FORWARD 139,109 |
Restricted fund £ 450 - 4,814 10,610 5,702 - 21,576 - - - - - 21,536 21,536 40 712,057 712,097 |
30.11.23 Total funds £ 450 167,500 4,814 10,610 8,935 24 192,333 80,313 58,048 25,918 - 1,735 22,371 188,385 3,948 847,258 851,206 |
30.11.22 Total funds £ 2 149,658 - - 6,359 2 156,021 74,708 47,982 19,398 156 1,233 16,840 160,317 (4,296) 851,554 847,258 |
|---|---|---|---|
The notes form part of these financial statements
Page 10
Eckington Development Company
Balance Sheet
30 November 2023
| 30.11.23 Unrestricted Restricted Total fund fund funds Notes £ £ £ FIXED ASSETS Tangible assets 8 98,514 706,881 805,395 CURRENT ASSETS Debtors 9 9,916 - 9,916 Cash at bank 51,994 5,216 57,210 61,910 5,216 67,126 CREDITORS Amounts falling due within one year 10 (21,315) - (21,315) NET CURRENT ASSETS 40,595 5,216 45,811 TOTAL ASSETS LESS CURRENT LIABILITIES 139,109 712,097 851,206 CREDITORS Amounts falling due after more than one year 11 - - - NET ASSETS 139,109 712,097 851,206 FUNDS 12 Unrestricted funds 139,109 Restricted funds 712,097 TOTAL FUNDS 851,206 |
30.11.22 Total funds £ 805,303 6,102 68,744 74,846 (21,563) 53,283 858,586 (11,328) 847,258 135,201 712,057 847,258 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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Eckington Development Company
Balance Sheet - continued
30 November 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
A L Talford - Trustee
The notes form part of these financial statements
Page 12
Eckington Development Company
Notes to the Financial Statements for the Year Ended 30 November 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery etc - 10% on cost. Computer Equipment - 33% on cost.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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Eckington Development Company
Notes to the Financial Statements - continued for the Year Ended 30 November 2023
1. ACCOUNTING POLICIES - continued
Going concern
The Trustees have not identified any material uncertainties related to events or conditions that may cast a significant doubt about the charity's ability to continue as a going concern.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 30.11.23 | 30.11.22 | ||
| £ | £ | ||
| Shop income | 5,702 | 4,110 | |
| Festival Stalls | 3,233 | 2,249 | |
| 8,935 | 6,359 | ||
| 3. | INVESTMENT INCOME | ||
| Interest receivable - trading | 30.11.23 £ 24 |
30.11.22 £ 2 |
|
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Depreciation - owned assets | 30.11.23 £ 1,173 |
30.11.22 £ 844 |
|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.
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Eckington Development Company
Notes to the Financial Statements - continued for the Year Ended 30 November 2023
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 30.11.23 | 30.11.22 | |||
|---|---|---|---|---|
| Charity Officers | 6 | 5 | ||
| No employees received emoluments in excess of £60,000. | ||||
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
Restricted fund £ |
Total funds £ |
|
| Donations and legacies | 1 | 1 | 2 | |
| Charitable activities | ||||
| Incoming Resources from Charitable | ||||
| Activities | 137,463 | 12,195 | 149,658 | |
| Other trading activities | 2,249 | 4,110 | 6,359 | |
| Investment income | 2 | - | 2 | |
| Total | 139,715 | 16,306 | 156,021 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Charity Staff Costs | 74,708 | - | 74,708 | |
| Premises & Building Overheads | 47,982 | - | 47,982 | |
| Operational Administrative Expenses | 19,398 | - | 19,398 | |
| Incoming Resources from Charitable | ||||
| Activities | 156 | - | 156 | |
| Governance Costs | 1,233 | - | 1,233 | |
| Other | 1,483 | 15,357 | 16,840 | |
| Total | 144,960 | 15,357 | 160,317 | |
| NET INCOME/(EXPENDITURE) | (5,245) | 949 | (4,296) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 140,446 | 711,108 | 851,554 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 135,201 | 712,057 | 847,258 | |
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Eckington Development Company
Notes to the Financial Statements - continued for the Year Ended 30 November 2023
8. TANGIBLE FIXED ASSETS
| COST At 1 December 2022 Additions At 30 November 2023 DEPRECIATION At 1 December 2022 Charge for year At 30 November 2023 NET BOOK VALUE At 30 November 2023 At 30 November 2022 |
Freehold property £ 800,000 - 800,000 - - - 800,000 800,000 |
Plant and machinery £ 156,981 - 156,981 151,678 844 152,522 4,459 5,303 |
Computer equipment £ - 1,265 1,265 - 329 329 936 - |
Totals £ 956,981 1,265 958,246 151,678 1,173 152,851 805,395 805,303 |
|---|---|---|---|---|
The land and buildings were last professionally valued on an open market basis in September 2010 by Swift and Co, a firm of Independent Chartered Surveyors.
The professional valuation of the charitys' two buildings returned a value of £800,000 in total. The trustees consider that there has been no material change in market value at present.
No depreciation has been charged in respect of the freehold buildings which are subject to an annual impairment review.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments |
30.11.23 30.11.22 £ £ 9,114 5,300 802 802 |
|---|---|
| 9,916 6,102 |
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Eckington Development Company
| Notes | to the Financial Statements-continued | |||
|---|---|---|---|---|
| for the Year Ended 30 November 2023 | ||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 30.11.23 | 30.11.22 | |||
| £ | £ | |||
| Trade creditors | (1) | 1 | ||
| Social security and other taxes | 1,045 | 1,568 | ||
| VAT | 6,095 | 6,417 | ||
| Other creditors | 170 | 202 | ||
| Loan Creditors | 8,767 | 8,604 | ||
| Accrued expenses | 5,239 | 4,771 | ||
| 21,315 | 21,563 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| Other creditors | 30.11.23 £ - |
30.11.22 £ 11,328 |
||
| Other Creditors due after more than one year and loan creditors due within one year, | ||||
| comprises a loan from the Adventure Capital Fund. This is secured by a legal | charge over | |||
| the assets of the charity | ||||
| 12. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 1.12.22 £ |
Net movement in funds £ |
At 30.11.23 £ |
|
| General fund | 135,201 | 3,908 | 139,109 | |
| Restricted funds | ||||
| RESTRICTED | 712,057 | 40 | 712,097 | |
| TOTAL FUNDS | 847,258 | 3,948 | 851,206 | |
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|
| General fund | 170,757 | (166,849) | 3,908 | |
| Restricted funds | ||||
| RESTRICTED | 21,576 | (21,536) | 40 | |
| TOTAL FUNDS | 192,333 | (188,385) | 3,948 | |
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Eckington Development Company
Notes to the Financial Statements - continued for the Year Ended 30 November 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1.12.21 | in funds | 30.11.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 140,446 | (5,245) | 135,201 |
| Restricted funds | |||
| RESTRICTED | 711,108 | 949 | 712,057 |
| TOTAL FUNDS | 851,554 | (4,296) | 847,258 |
| Comparative net movement in funds, included in the above are as | follows: | ||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 139,715 | (144,960) | (5,245) |
| Restricted funds | |||
| RESTRICTED | 16,306 | (15,357) | 949 |
| TOTAL FUNDS | 156,021 | (160,317) | (4,296) |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Unrestricted funds | At 1.12.21 £ |
Net movement in funds £ |
At 30.11.23 £ |
| General fund | 140,446 | (1,337) | 139,109 |
| Restricted funds | |||
| RESTRICTED | 711,108 | 989 | 712,097 |
| TOTAL FUNDS | 851,554 | (348) | 851,206 |
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Eckington Development Company
Notes to the Financial Statements - continued for the Year Ended 30 November 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds RESTRICTED TOTAL FUNDS |
Incoming resources £ 310,472 37,882 348,354 |
Resources expended £ (311,809) (36,893) (348,702) |
Movement in funds £ (1,337) 989 (348) |
|---|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2023.
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Eckington Development Company
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 November 2023 | ||
| 30.11.23 | 30.11.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | 2 |
| Donations | 450 | - |
| Other trading activities | 450 | 2 |
| Shop income | 5,702 | 4,110 |
| Festival Stalls | 3,233 | 2,249 |
| Investment income | 8,935 | 6,359 |
| Interest receivable - trading | 24 | 2 |
| Charitable activities | ||
| Grants | 15,424 | 12,195 |
| Office Rents etc receivable | 167,500 | 137,463 |
| 182,924 | 149,658 | |
| Total incoming resources | 192,333 | 156,021 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 79,422 | 73,757 |
| Pensions | 891 | 951 |
| Operational Admin Expenses | 25,918 | 19,554 |
| Premises & Building Overheads | 58,048 | 47,982 |
| Other | 164,279 | 142,244 |
| Other Resources Expended | 835 | 1,483 |
| Festival spends | 6,672 | 3,776 |
| Community Pantry Spends | 10,708 | 8,490 |
| Holiday Hunger Spends | 4,156 | 3,091 |
| 22,371 | 16,840 | |
| Support costs |
This page does not form part of the statutory financial statements
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Eckington Development Company
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 November 2023 | ||
| 30.11.23 | 30.11.22 | |
| £ | £ | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 1,735 | 1,233 |
| Total resources expended | 188,385 | 160,317 |
| Net income/(expenditure) | 3,948 | (4,296) |
This page does not form part of the statutory financial statements
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