REGISTERED COMPANY NUMBER: 04349015 (England and Wales) REGISTERED CHARITY NUMBER: 1093845
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
HONEYCROFT
(A COMPANY LIMITED BY GUARANTEE)
Chariot House Limited Chartered Accountants
44 Grand Parade Brighton East Sussex BN2 9QA
HONEYCROFT
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 15 |
HONEYCROFT (REGISTERED NUMBER: 04349015)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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 31 March 2024. 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).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Charity's objectives and principal activity, as defined by the Memorandum and Articles of Association, are:
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To provide and promote education and care for children in the area of benefit through play and recreational activities. - To help educate children and young people in the area of benefit without distinction of sex, sexual orientation, race or political, religious or other opinion, through their leisure time activities so to develop their physical, mental and spiritual capacities that they might grow to full maturity as individuals and members of society and so that their conditions of live may be improved.
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To provide and promote education and support of children and young people in the area of benefit who have special educational needs or who are socially excluded for other reasons through integration and inclusion into mainstream service provision.
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To provide such support to parents and carers of children and young people referred to in the above objects as will assist in the pursuit of those objects.
Honeycroft provides services to meet its objects through a range of activities based at the centre in Hove. This includes a nursery and crèche facilities. An after school club provides for children from 5 years up until 11 years for both after school and holiday times, and a Volunteering Project provides opportunities for parents, carers and others to become involved in all aspects of the services. The Centre provides a a range of partnership projects based on current funding and need including male carers stay and play sessions, intergenerational yoga project and multiple births coffee mornings.
Public benefit
In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in section 17(5) of the Charities Act 2011 to have due regard to public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set
The Trustees believe that the paragraphs, specifically on the "Objectives and Activities" and "Achievements and Performance" for the year, relate in detail the benefit that the charity provides to the public.
Volunteers
The work of the charity is greatly assisted in the fulfilling of its objects through the work of volunteers. Volunteers are active in all levels of the running of Honeycroft and without their labour and regular input the charity would have been able to make the achievements it has. Honeycroft continues to attract volunteers mainly through word of mouth or access through childcare courses.
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HONEYCROFT (REGISTERED NUMBER: 04349015)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We have had a solid and stable year although, recruitment has remained an ongoing challenge. However, we have recruited a Learning & Development Manager, who also takes on the deputy nursery manager role and, who as a graduate, enables us to access the additional quality supplement for having a qualified teacher leading the curriculum offer in the nursery.
We have not yet picked up any new letting/hiring/use of space, other than our ongoing main martial arts user based at the centre 4 days per week. Use of the space for courses and adult classes is now unlikely to returned to the level before the pandemic, due to changes to organisation's business plans e.g. teaching online, and the closure of some courses.
We have had successful Summer and Christmas events to engage with the wider community and to raise funds for the upgrade of the soft play space, which took place in February 2023, after lots of planning. Monthly inclusion stay & play sessions continue, supported by our inclusion trustee, as a wider offer to reach local families with children with additional needs. In addition, in Summer 2023 we received funding from Brighton and Hove HAF scheme to offer free holiday club places for children eligible for means tested free school meals.
We have successfully changed our invoicing system to complement the accounting system in place, which now also combines the childcare part of the business; from registration to assessment and includes all parent communication.
We have now identified a replacement for Keith as finance trustee and Keith has started the process of hand overing so everything will be in place for change of person by next AGM. We continue to look for new trustees to lead on HR and legal to join the established team.
FINANCIAL REVIEW
Financial position
The figures from our draft Accounts are;
£ 174,658 total unrestricted funds and £nil total restricted funds as at 31/03/2024.
This represents an increase of £ 8,729 which demonstrated our growth and larger recovery from the impact of the pandemic. Childcare strands continued to increase and return to pre pandemic levels. Even after the increases again to the National Minimum Wage, the drop of eligibility to 21 years old and the final increase to quarterly rent, we have managed to make a small profit of £ 8,729. the nursery and out of school offer continues to be popular and we continue to work to staffing capacity. We had sufficient reserves in place to allow us to weather any further challenges, however we are aware after previous reductions in our reserves, we continue to look for ways to increase our revenue and whilst reviewing the fee scales to ensure that we remain competitive and in line with our objectives as a charity.
Reserves policy
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity, at a level which provides sufficient funds to cover management, administration and support costs. Our aim is to achieve a level which will enable the charity to achieve its long-term objectives.
FUTURE PLANS Aims for the year ahead
To ensure we look at funding revenues to ensure we can maintain the balance of costs, and increase to utilities, rent & wages.
To look at alternative premises or to stay in the current premises - lead by Steve McGeough 2024/5 Project To continue to upgrade electrics and make improvements and repairs to the building
To review the staff structure with a focus on staff recruitment to be able to develop and extend childcare offer. To review the marketing and publicity of Honeycroft To continue to develop our well-being support
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HONEYCROFT (REGISTERED NUMBER: 04349015)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity was incorporated, as a company limited by guarantee, on the 8 January 2002 but was dormant until 1 September 2002 when, following the granting of charitable status, took over the responsibilities of Honeycroft Under 5's Centre an unincorporated association. The governing document is the Articles and Memorandum of Association.
As the Charity is limited by guarantee, there is no share capital. At the year end, each member has undertaken to contribute to the Charity's assets, in the event of the Charity being wound up, such amount as may be required, not exceeding £1.
Recruitment and appointment of new trustees
New Trustees join the Board at the invitation of the Board and are chosen with the view to ensuring that the Board contains an appropriate balance of experience relevant to the operations of Honeycroft. Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision making processes, the business plan, policies and financial procedures and the recent financial performance of the charity.
Organisational structure
The activities of the charity are advised and monitored by the Board of Trustees who meet regularly to set the strategic direction of the organisation and for establishing policy. They also ensure that the charity fulfils its objectives and complies with the requirements of the Charities Commission.
The day-to day management of the charity is delegated by the Board of Trustees to the Centre Manager, Natasha Silsby, who attends the Trustees meetings to update the Trustees on developments and issues and to obtain instruction on the management of the charity.
Health and Safety
The charity is always concerned to ensure health and safety at work and within its services, to this end it has a full range of policies which are reviewed and updated regularly.
Risk management
The board of Trustees have conducted its own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04349015 (England and Wales)
Registered Charity number
1093845
Registered office
St Barnabas Hall Sackville Road Hove East Sussex BN3 3WF
Trustees
S Gaston C Brady K W Bonner (resigned 1/4/2024) S McGeough
Company Secretary
A R Silsby
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HONEYCROFT (REGISTERED NUMBER: 04349015)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Dr Shona F Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Bankers
Metro Bank plc One Southampton Row London WC1B 5HA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ C Brady - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HONEYCROFT
Independent examiner's report to the trustees of Honeycroft ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Dr Shona F Wardrop C.A. The Institute of Chartered Accountants of Scotland
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Date: .............................................
Page 5
HONEYCROFT
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Nursery provision 326,731 Other trading activities 2 12,552 Investment income 3 483 Total 339,766 EXPENDITURE ON Charitable activities 4 Nursery provision 331,037 NET INCOME/(EXPENDITURE) 8,729 RECONCILIATION OF FUNDS Total funds brought forward 165,929 TOTAL FUNDS CARRIED FORWARD 174,658 |
Restricted funds £ - - - - - - - - |
2024 Total funds £ 326,731 12,552 483 339,766 331,037 8,729 165,929 174,658 |
2023 Total funds £ 279,732 13,402 146 293,280 308,240 (14,960) 180,889 165,929 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
HONEYCROFT (REGISTERED NUMBER: 04349015)
BALANCE SHEET
31 MARCH 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 17,109 CURRENT ASSETS Debtors 11 15,746 Cash at bank and in hand 148,375 164,121 CREDITORS Amounts falling due within one year 12 (6,572) NET CURRENT ASSETS 157,549 TOTAL ASSETS LESS CURRENT LIABILITIES 174,658 NET ASSETS 174,658 FUNDS 13 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
2024 Total funds £ 17,109 15,746 148,375 164,121 (6,572) 157,549 174,658 174,658 174,658 174,658 |
2023 Total funds £ 12,934 22,415 136,956 159,371 (6,376) 152,995 165,929 165,929 165,929 165,929 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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
continued...
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HONEYCROFT (REGISTERED NUMBER: 04349015)
BALANCE SHEET - continued
31 MARCH 2024
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:
............................................. C Brady - Trustee
The notes form part of these financial statements
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, and on that basis the charity is considered to be a going concern.
The financial statements are prepared in sterling which is the functional currency of the entity, and are rounded to the nearest £1.
The charity meets the definition of a public benefit entity as defined by FRS102.
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.
Donations and Grants
Income from donations, and grants, is included in incoming resources when these are receivable, except as follows:
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When donors specify that donations and grants given to the Charity are to be treated as funding for future accounting periods, the income is deferred until those periods.
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When donors impose conditions which have to be fulfilled before the Charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
When donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
Nursery Fees
Fee income for provision of nursery services is included in incoming resources when the service has been provided, or, if amounts invoiced relate to services both before and after the period end, then in proportion to services provided, with the balance being deferred.
Other Income
Other income is recognised in the period in which the Charity is entitled to the receipt and the amount can be measured with reasonable certainty. Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it, or where the donor has specified that the income is to be treated as the funding of a future period.
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
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.
Improvements to property - 10% on cost Plant and machinery - 25% on reducing balance
The Charity does not capitalise assets costing under £500.
Recognition and measurement
Fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
Operating Leases
All leases are treated as operating leases. Their annual rentals are charged to the Statement of Financial Activities on a straight-line basis over the term of the lease.
Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both the current and future periods.
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustments to the financial statements in a future period.
Financial instruments
The charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are measured at amortised cost using the effective interest method.
Financial Assets
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Financial Liabilities
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Rent received | 9,544 | 12,238 | |
| Other income | 3,008 | 1,164 | |
| 12,552 | 13,402 | ||
| INVESTMENT INCOME | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Deposit account interest | 483 | 146 | |
| CHARITABLE ACTIVITIES COSTS | |||
| Direct | |||
| Costs (see | Support | ||
| note 5) | costs | Totals | |
| £ | £ | £ | |
| Nursery provision | 180,703 | 150,334 | 331,037 |
3. INVESTMENT INCOME
4. CHARITABLE ACTIVITIES COSTS
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
| DIRECT COSTS OF CHARITABLE ACTIVITIES | ||
|---|---|---|
| Staff costs Toys, Equipment and Materials |
2024 £ 175,105 5,598 180,703 |
2023 £ 162,219 446 |
| 162,665 |
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,314 | 379 |
| Independent Examiner's fee | 2,160 | 2,170 |
| Rent under an operating lease | 40,000 | 40,000 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
8. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2024 £ 222,618 7,060 5,285 234,963 |
2023 £ 211,250 6,801 5,492 |
|---|---|---|
| 223,543 |
The average monthly number of employees during the year was as follows:
| Playgroup Management and administration |
2024 16 3 19 |
2023 15 3 |
|---|---|---|
| 18 |
No employees received emoluments in excess of £60,000.
Key Management Personnel are considered to be the trustees and the centre manager. During the year remuneration of £38,238 (2023: £41,388) was paid to Key Management Personnel.
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Nursery provision 279,732 Other trading activities 13,402 Investment income 146 Total 293,280 EXPENDITURE ON Charitable activities Nursery provision 308,240 NET INCOME/(EXPENDITURE) (14,960) RECONCILIATION OF FUNDS Total funds brought forward 180,889 TOTAL FUNDS CARRIED FORWARD 165,929 10. TANGIBLE FIXED ASSETS Improvements to property £ COST At 1 April 2023 240,391 Additions - At 31 March 2024 240,391 DEPRECIATION At 1 April 2023 227,887 Charge for year 2,084 At 31 March 2024 229,971 NET BOOK VALUE At 31 March 2024 10,420 At 31 March 2023 12,504 |
Restricted funds £ - - - - - - - - Plant and machinery £ 47,357 8,489 55,846 46,927 2,230 49,157 6,689 430 |
Total funds £ 279,732 13,402 146 293,280 308,240 (14,960) 180,889 165,929 Totals £ 287,748 8,489 296,237 274,814 4,314 279,128 17,109 12,934 |
|---|---|---|
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses 13. MOVEMENT IN FUNDS At 1/4/23 £ Unrestricted funds General fund 165,929 TOTAL FUNDS 165,929 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 339,766 TOTAL FUNDS 339,766 |
2024 2023 £ £ 8,246 11,667 - 871 7,500 9,877 15,746 22,415 2024 2023 £ £ 3,299 2,974 1,104 1,232 2,169 2,170 6,572 6,376 Net movement At in funds 31/3/24 £ £ 8,729 174,658 8,729 174,658 Resources Movement expended in funds £ £ (331,037) 8,729 (331,037) 8,729 |
|---|---|
continued...
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HONEYCROFT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/22 £ Unrestricted funds General fund 180,889 TOTAL FUNDS 180,889 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 293,280 TOTAL FUNDS 293,280 |
Net movement At in funds 31/3/23 £ £ (14,960) 165,929 (14,960) 165,929 Resources Movement expended in funds £ £ (308,240) (14,960) (308,240) (14,960) |
|---|---|
14. EMPLOYEE BENEFIT OBLIGATIONS
The charitable company operates a defined contribution pension scheme with contributions being made by both employer and employees at variable rates. Total pension costs in the current year amounted to £5,285 (2023: £5,492). At the year end £1,044 was due to the provider (2023: £1,171).
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
16. CONTROL
The company was controlled throughout the current and previous periods by its Trustees by virtue of the fact that each Trustee has a vote at meetings of the Trustees.
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