REGISTERED COiVIPA.%Y lImBER. 04278151 (England and Wales) REGISTKRED CHARITY fUMBER: 1095120 Re ort of the Trnstees FlnADcknl Stilemellts for the Yegr Ended 31 Au ust 2024 Foresi ht iyorth Esl 14incolnshire Ltd. SCB (Accountants) Limited 31 Sackville Str¢¢t Manchester MI 3LZ
Foresi ht ]Yorth East Lincolnshire Lt(L Content5 of the F¢D*neial St#tement5 for the Tr'ear Ended 31 Au ust 2024 Page Report of the TnL8lees Statement of Trnsle¢s' Responsibilities 12 10 13 Report of the Independent Auditors 14 10 16 Ststement of Financial Aclivities 17 Siaremenl of Financial Posilion 18 Sialerneni of Cash Flows 19 Noles lo the Statement of C&sh Flows 20 Notes to the Finoncial Statements 21 to 37 Page I
Fore51 t North East Lincolnshire Lt(L rt of the Trustees for the Trear Ended 31 Au U5t 2024 The trustees who are also directors of the charity for the purySeS of the Companies Ad 2006. present th¢ir report with the financial statements of Ihe charity for the year ended JI st August 2024. The truslees have adopted the provi8iOT7S of Accounting & Reporting by Charities= Statemenl of Recommended Practicc applicablc lo charities preparing their accounts in a¢¢ordance with Financial Reporting Standard appli¢able in the UK & Ireland (FRS 102) leffective I st January 20191. 0EC[IvEs AND AcfiviTIES Objeetives and aims The charity's objects are lo promole Ihe benefit of disabled people. older people their families and careers in North and North East Lincolnshire and surrounding areas. In addition, given the work the organisation has undertaken within the V¥'ar¢house, S¢artho Cornmunity Hub. Crescent Community Hub, and 146 Freefflan Street we have included the wider community a5 b¢nefieiaries through the inclusion of an urban regeneration clause within our area of benefit. The aim of Foresight is to improve the quality of life for its beneficiarie5. building confidence and combating di5advantagc. By the provision of new opportunitie4 raising awareness and partnership working we address Ihe stigma and rnyih5 surroundin8 disability and break down barriers enabling individuals to lead a full and independent lifestyle. The organisalion works towards establishing and mceting ihe nLrds of its user group, developing and providing Services and avoiding duplication wilh other service5. The organi7alion's mission ststernenl is "to provide the way forward for the disabled and older communilies of North and North East Linwlnshire and suffounding areas. Empowering individuals towards, a- new beginning, a brighi¢r future and a full and enjoyable life. During the pt year the charity has worked tirelessly to further m¢ei th¢ n¢eds and r¢quirem¢nts of its b¢nefieiaries and user group. The charity h&s strived lo continue providing new and innovative opportunilies in line with the user led ethos of our or8anisalion. The overall d¢liv¢ry h8s b¢¢n designed lo enhance independence. improve health and well-being, ¢ombat social exclusion and improve individual quality of life addressing our overarching aims. During the past year the chariiy has continued lo in¢Tease the delivery of our s¢rvices dedicated to meeting the needs of our community members in boih North and North East Lincolnshire. To achieve our objectives the Charity has undertaken regular consuliaiion, Tesearch and surveys with our user groups. strengthened existing partnerships and Created new partnerships with other 5ervic¢s provid¢rs. In addition, lo achieve these objeciives, the charity relies heavily on income from external sources and tNst funds. it is organizational policy for funding to be in place prior io commencement of any project. roresight continued to mttt the demand5 of our user group during the year using both 60 Newmarket Sireel and the ground tloor of 1 45-159 Freeman Str¢et. Grimsby DN32 7AR. The first flwr and second floor are currently reiite.d to Learning for Lile. 146 FrLcman Streel krlown as the skills hub is fully hired out Learning for Life and We are One Food Bank Ann¢ Askew House's 27 self-contained apartments and the Coronation House 25 self-contained apartments have had a high level of occupancy during this period which has contributed significantly lowards long temi sustainability and has served to further raise our profile and standing as th¢ Icading charity for disability in North Ea51 Lincolnshire. Within the Newmarket Street Centre. the provision of facilitie% and activities is totally user led. We currently provide a ide #nd diverse pro8ram of learning, training. l¢isyre, sporting and social activities all specifically adapted to Ineet the need5 and requir¢m¢nts of disablLd peoplc across all agcs. To furthcr suppon and complLmLnl this we offer burgeries ross all areas affecting individual lifestyle including infomation. advice and guidance, benefits, independent living, job search, careers, all aspecls of health e.g., opticians. doctors, dentists, communTty and home safety and other related issues in order lo provide a one slop shop and enhance quality of lif¢ for b¢n¢ficiari¢s. Public benefit The Charity provide5 a significant public benefit through the provision of its facilities and satisfaction of its objectives. The trustees have given regard to lhe Charity Commission's guidance on public benefit. Page 2
Foresi ht North East Liocolnshire Ltd. Re rt ofthe Trustees for the YeAr Ended IA ust 2024 Volvn¢¢ers The organisaiion is particularly reliant on volunteers the course of undertak'ing its charitable activities. Voluntecrs make a significant contribuiion to the organisation assisting through a wide range of tasks and duiies in¢luding the day lo day running of the Scartho Community Hub, organisalion of acliviites and outings, support with and leading on activities, learning and Iraining. administrntion and recepiion duties, delivery of basic IT 1r4iinin¥ specific lo disabled people, sustainability of projects post funding and general assistance with everyday tasks attributed 10 ihe smooih running of the Cenlre. The or8anisation has a strong volunteer base numbering over 150. which has equated to in ex¢ess of 26,000 wolunle¢r hours during the year. In terms of value ihis is equivalent 10 twelve full lim¢ aff posiiions and has proved to be essential to ihe smooth runnimg and ihe SU5tainabi l iiy of services and the overall organisation. ACHIEVEMENT AND PERFORMANCE Charitable activities Key Sites We Lurrently operate from eight key site5 in the community that are managed centrnlly from our headquarters at the Foresight Day Centrc on Newmarket Strect: Foresight Day Centre, Newmarket Sireel, North Ea Lincolnshire Supported Living Acwrnmodalion, Anne Askew House. North East Lincolnshire Supported Living Accommodation, Stanley Streffl. Grimsby Ni)rth East Lincolnshire Crosby Community Hub. Scunthorpe, North Lincolnshire The Warehouse, Freeman StreeL Grimsby. North East Lincolnshi 146 Freetnan Stred, Grimsby. North E4s1 Lincolnshire S¢artho Community Hub, North East Lincolnshire Crescent Cornrnunity Hub, Cleethorpes, North East Lincolnshtrc Highly relevant to maintaining these key siles is the ongoing funding from the Mercers Foundation lo cover core cosls. In addition. we employ a Facilities manager who has overdll responsibility for all our siles and as a result this ¢nsurcs they are well maintained, meet the needs of tenants and usl'rs and with increased usc and fi)otfall resulting in addilional unr¢slricted income enhancing future organisational sustsinability, Day Opporthnities Our day upportuniti¢s ar¢ delivered from Foresight Day Centre and include a wide range of cours¢s, includin¥ education funded provision ¢.g., Herilag¢ Lortcry. Art5 C.ounctl with accreditation if desired. Provision also includ¢s facilities and a¢'livities providing disabled aduhs with opwirtuniiies to gain a variety of new skills and hobbies &8 well as developing confidence and general wtllbcing. Training courses artd activities include the following.- Computers e.g.: staying safe online, shoppin8 making best usc of IT: Arts and Craft5 e.g., Painting. Pottery, Tcxtiles and Card Making. Photography and Medi& SpeLial interests c.g.) Aromatherapy. Archery. Shootin& Fishing Healthy eating e.g.. fiK)d choice& fd prePatiOn Sporting activities e.g., Bowling. Badminton, Basketball, BO1¢5. Table Cricket Fiinitional Slalls English & Nqath's Ind¢pendent living 5kill4 Moaey Management The Foresight Day Centre also bo&sts a r4nge of 5pecialisi athivity which has included Science Awareness furjded by British Science Association and the Royal Society for Chemistry, Opportunities and 8¢1ivity offered wiihin our day Centre and through outreach provision that supports the charitable aims and obJIlve5 are detailed below Page 3
Foresi ht North East Lineolnshire Lt ort of the Trustees he Year Ended 31 .4u ust 2024 for ITC Support: roresight supports th¢ disablcd community of North East Lincolnshire to commencc using the internet, use the internet safely, tske full advantsge of the potential of the it)temel and this is achieved through structured courses and dropin sessions., It is supported by qualified tutors and the volunte¢rs and staff al Foresight pn)viding supporL assistance and reassurance to make sure people's use of ihe internet Is a POSiTive experience. During the firiancial year this service has been significantly bSted through funding from the Access Foundation. Il(Ji'ic¢: riinded by the Energ). R¢dre5s progTramme the centre offets the provision of Iii¥?h-qualiiv encrgj ad%'ice aiiLI supi)urt whiLh is currently unavdilablc on a local basis to disabled people residingT Ill iNorth aiid Ntsrtli E.'asl Lii)4olnihire siginiticantly improving qtsaliiy of life ihrough fiiiaTicial savin¥s. wariiier lioiiics and a bknttei. (11)dei'%laiidin¥T lif Ilie enerb>' rteeds and usage resulting in behavioliral ehaiige aiid p()siiitre decisiniis as d resiilt of aiLLssinu) the project. During ihe curreni cosi L)r liwinLJ Lri5is, we hav¢ leain¢d lip w'ith b.ii¢rLiy R#dr¢55 (iiid North Ec?si Lincolnshire Council to provide eiiergy vouchers for disadvantaged communiti. 11)enib¢rs wlio use pre-i)iyft)e11t token nieiers for rheir uiiliiies. In addition, we provided advice and awarenLSS relatlJl¥ li) loaii sharks wliich was funded by Birniingyham City Council. Electrical safely funded b}, ilie Electi'ical safely fund ajid Ihe provision of personal nd holme safet), equipment fuiided by the PCC Conin)unity Safeiv Fiind. Aiii)e Askeiv House: li} ?01 ? Ive purchased Anne Askew House iii Stallingl)orough for 140k and began 84 refurtJishniei)I piDjeil ro pi'iikide sLlf-cunlained apartmenls for people with 2 rdn&7e of disabilities. The building lias provisioi) foi. SLIPPL)I'led living units. .411 apanmeiits have a living area. bedrooni. baihroon) lind kiiLheii nd coiiie M'ith Ilie cIIoiLC of being fumish¢d al an exlra Charge. "I'he residents also have access to a commuiial 'e aiid garden. Coronation FIou4e: 'I"his biiildillgT ivas completed in 2021 prvvidingl ?4 self-contained apartmenis lor people with a I'angye of (lisabilit1¢5. Dye 10 deinand for housing Nve recugnised ihe need for an urt>an location close lo all niajor facilitie4. all apirtnients hav¢ 41 lii'ing? area. bedroom. bathroom and kitehen aiid ¢ome with ihe choice of beii)È luriiiqlied al <lll cxira charge. The residenis a150 havc ac¢¢ss lo a coinniuiial area. This f4K'ilitv also has livL scparatc Iinils liich drc leased io the local authoritv for people leaving eftre. We have ittAde %ignificanl inroiids tt) the siisraincibilil). ol'the hoiisin8 ihroiigh Ivolfson foLiiidatii)n fundiii¥ for solar pan¢l5. Outcloor ,4ctii ity Cettlre: Uiii. ouidts)r aLlivity' ccntrc was open¢d in Junc ?0? I to signifl¥antly iinpr()v¢ th¢ quality of. lic tor disablcd PLoplc and their faniili¢s. The outdoor activil), cenlrc offers an e.xtensive prograiiinie of supporied oiiidoor aLliiiities available seven dAys a week e.g.. walkiiig, ¢ycliii&, aTrgliiig, ouidoor oaiiic5. We al'e pa11iLiIIL2rli' brialelul to <1 r811¥¢ i)[gr¢t funders who hdwe Loniribuied to this projeut includiiio Bernard Suiilev and HEI, S"ii?ile founilation. rnrth Liiicoln.shire: rnresig)hi iiii)ved to new prei11i.se.s in March 9022 with ihc opeiiing of the Crosby Cominuiiiti. HLih our disahilit}' d47V Leiitre i¥ith beiieficiaries utilisiiig persoiial budgets to PEErchase provision. Froni this ceiitrc w¢ deliver a t211ge c)f LIIuidli(Illdl aiid r¢Lredlional progr¢imme5_ Th¢5e incliidc a nuniber of short courses IAuglil b}, IV(Trrkei3 Ed£Ill(?17 ssociaiion tutors." and a range of recreational aiid developinenlal s¢ssions includiiig arts & crafts, spoi'ls a¢livilie& gardening tmd alkIn¥. The buildinLP also ha5 a Irainin¥b kiichen and a dedicated IT room. 'I'he Wdrehuuse: -rhL dLI'L lopniL'.nt offers a fully e4uÉppcd bar and audilorium with full iximiiiunily acLYss. The fiThl dnd seLoiid tl()or is leic sed bN a local comniunily learning group. L¢aming* for Life who provide learnin¥ Jr¢d developimeiit for SI.ND pupils w?d i)eople Lirantcd and those 5eekrng' asylum. Duriiig the year Hre received a grnnt From ilie I'-()ut11 Iiivestment fiiiid lo refiirbi5h the ground fl(KTrr inio Cafe Aspire iYhiLh will offer trainin<i to ben¢ficiaries and ncH' opportuiiities for cuinmunity groups to hire Space and provide activities. Page 4
Fortsi
ht North East LTncolnshire Lt
ort of the Trustees
for iht Year Ended 31 Au
ust 2024
146 Freeman Street:
Tlie biEilding nwned the Skills Hub offers a range of classrootrn space and otrices Loinplin7enlLd bv a Ir2illllll
kilLlicn lind Ihc building is lulli, Icascd io Learning tor Life and We arc One f.ood bank providing sei'¥icLS Ic) tliL
l()cal community..
Prnjecls and InitiAtive.*:
-riitt fi)Ili)Iwin¥ wojeilb and iiiilialives are primarily" delivered froiii ihe Furc5ig]ii Da¥ cents'e it) Ni 'ewniai'kef %ÉreLI.
suni¢ elemenis Lbf serviL¢ provi5ton may also cr055 inio North Lincolnshire here they arc delivcrt.d troiii oui.
oillinuiiiti, rc5011rce centre.
Holid#y Seheme:
ni'e.sighi nii)b d holiday scheme for children with disabilities during the Iiaifterm periods. -rhe SLheme piiivide
I'L"SPltc for fdmilies
Foresi ht Norlh E¥45t LiDcolnshir¢ Ltd. rt of the Trnsteey for the lear Lllded 31 Au ust 2024 ,Sptsi1 ,Ictive Recreation.. Il'e piovide i) f&in&ie of diff¢r¢r)t sport Aiid recrealion actii'ilies the niajority funded b>, Spor( Englftiid aiid Ailive 14iiimber. Classes rEin rhr()UgThuut the dajs Klondav_Friday ranging, from Archcry, tu Elddmiiiton. fouibHII to Basketb1c11. There 15 a greai variery for every'one and helps keep people fit and aLtiie. To ensure s(ISLgiIILd pai'liLipali()n wc delifver a Sport En¥land funded project ihi¢ t develops our volunteer base io lead delivil iincl pri)vide suppo11 71 nd niotivation ensLirino the aCtIe reinain active. Addiiioll811}'. we received Grow ihe Ganie rvn(liiigy to lorm disability football teanis who ioinpclc in ihc county Icayiuc and al ciiable our voliintecr LL)aLlies to achie¢ relcvant coachin2 qualifications. SciiJlio c.omniiinit)' Hub: Tlie comniunity hub is a former local auihoriiy library providin(T a much-needed facilil>', WiThii) the area. The faci lity had prei'ioiisly been run by Ihe Incal authority and For¢sighi acquired the building throuqh Commiinil) 2I.%sct ti'ansfL'r. 'fhe facility offers rnnge of opportunities lo the local eoiiimunity in line 1th the txtensiK'¢ Loiisiilialion iind¢'rtakcn by Forcsighi on an ongoing basis to devclop thc scrvicc. Thc facility is ruli b voluiiiecrs. Inainly older pe(iplc who are using ¢Kislii)g skills and developinn nem ones and have ali enipatl)>. huili over the years. which gives them a SErong sense of The needs iii ilie loL'al comn)unitv aiid this is helpiiif, L51¢iblish gii'OUPs lind dLlii'itieb whiLh are lacklin¥ the lonelir¢e5s and ig)laiiun ¥ndured by iii tli¢ ur¢il. whi¢li lias cl141rge populrfition of older people. .iimpden Comrnunitv Ilub: llie hLib olyers a prograiiim¢ of ¢(Mnniunity'_bgsed gclivilj, which comiyats soL'ial exclusioii ld generates high levels of iiiiprnvcnicnl to cinotional and physical healih and wcll-bein¥. We will be seeking 10 expand this activity pi'oLramme in line with Community demand and cxplore new areas for inconi¢ generdlion TrA%el T¢Ainiii% l)Lll'ing the cosl_of-living crisis our beneficiary blc sc ideiitified iSSLies M'ith trdvel and n)ad safcly and iliaiik'g to 'lolabiliiy Ailive 'l'ravel Grant ive have developed a prob)ramme of c)'cle ivii Ikin¥T 4ind oeneral tr4ivel iraiiiiii illiliidin¥ thL provision of a LyLl¥ library. This pr()jeLi has si¥nifiLAiiily improve(l LC)nfidenLe and indil'idual skills and abil?ty with restard io walking. eyclins and usc ot- public (r)SOrt and reduLed ieliaiicc oli purents. ¥arer4 and the iise of iaxis and has resulted in positive Impact on indii'idual and famil).. finai)ces. l.ommiinit)' ReseArch P4etwork Funded by Iiinoviile UK Foresishi has been the lead partner in undertaking exlensive M'ork to dcteiThine thL' f151b111tY and Iii)pAet OF developing an Easi Marsh Coiiimunil). Research Network. .41vNI-ds: The organi¥lltiL)n hosted its 41nnual aiiards cereiiiony in December 2023 10 honoiii. staff.. volunteei's L?nd bciicticiarie.s who had gonc over and abovL. for the Charity duriiig ihe year. It iva5 ailOth¢r Ireniciidoyb o¢casiLIIi wIIiLh truly recognised the oiitstanding ¢ontribulion5 of individiials across thc organi5ation. l-he charit)" coiilinLies lo bL indebted to ItKal organisations and p8rtncr5 who sllPPOrted the event aiid 8ponsored Ihc faiitsslic &rra)' of award. Page 6
Foresi t North East Lincolnshire Lld. rt of the Trustees for the Year Ended 31 A st 2024 Overall, th¢r¢ are man) faLtors rclcvant lo ihe achievcmcnt ol- our objcctives both withiii and oiitsidL tIIL licll'ilv's oi)ntr()l. Th¢ chaTlty rclie5 heavily on the contiiiued involveiiienl of the beneficiaries and Iheir feedback lid ide¢lS to drive fiitui'e planning. Consultation is onl. possible through stn)nb partnersliips with ilic IoL£il Liihority, IoLI15 Ilit social serviccs proi'ider and ihe North Eds1 Linrolnshir¥ Iiitegrated Care BUd wlio dri" iiisirunieiital in dissemin8ting infomiation to our user gmup and also infomini. the wider L0mtnuni. The charit), relics on the coniinued support of tiitiding Lx>dies io develop ne. programines and cotitiiiue witli our existi114 pro4iramine (If work. Hoive¥er future siiate¥}' will be to develop i)ew services across North Easi LineoliishirL' and siirrouniliiig areas oenerating unrestricled in¢ome. which will enable ihe organisation to improve sustainabiliis 41ncl .diicc depeiid¢n¢¢ on tunding bodies. Above all the charity. dcpcnds lolally" on the coniiiiilnieiii ot. sr¢iif aiiil vi)liinteers. Their lo)'altv and drive combined kn'iih effekn'tive team workin¥ is Pdrarnount in the achievenieni ()f iiiir c114qfii¢ihle objeciiN'es. Page 7
Foresi hi North Elst Lincolnshi Lt Re ort of the Trns¢ees for the l'ear Ended 31 .4u ust 2024 FIN.4NCIAI, REVIEW. Principal funding sources Thc priiicipal funding sources tor Ihe charity is by way of grant income. The chariry has strengthened its funding ba.%e Ihroii¥Yh publil sector contracts and earned income and this has had enomious signifiLaw>ce li) ternis i?f 'J'lie LlidTily hus had ti) seek fLiiiding from a InuLh bn)ader givup of agenLies ii) order to fLtnd sn)#ller proj¥LIs delivei-ed io nieei lis ehariiable objectives. HO¢ver Ihere has been significant contributioii in rhe fnm of riii8n¢e frum I'ouih Investment fund and louery fundino auTenci¢s e.g'., Heriiage Lottery Sport Englaiid, Third SeLtor Suppon Fund North East Lincolnshire Iniegrnted Care Boérd, aiid North Easi l.incolnshire Council who e119ured the charity could continue to deliver high quality service5 throughout ihe paiideiiiic. Iii addition. are Jratctiil to Charitv Bank and Social Investnieiii Business for their Iinancial Lontribulii)n which has cndblcd the expansion of our community asset base. R¢$eiwes poliev IK¥¢iills1 the baLkdrop Lif limil¢.d resour¥es and inse¥uriiies ov¢r fut)ding. li has ntil]U¢ lo b¢ diffiLuII i() pl¢t or develop seTvice5. The Irustees belie¢ thai the minimum level of ihe EOR lthe "Emergenc). Operaline Resen'e" PORI slioiild be ihe equivalent of twelve months, operaling cosls calculated and reviewed ani)Iially aiid believe ihi& t Ihe EOR should be buili up lo the desired level in stages eonsislent wilh the charity's overall fiiiaEicial p0511ion and ils need io n)airtlain and develop its eharitable 14 ¢tivities. The r¢uson for this level is because the cli¥ll'irJ' lios no LndoH'ni¢nl funding and is eiilirclv dcpcndeni tor incomc upon granls. coniracls and doiior fuiiding troiii ye¢ir to year which is inevitably subjeci lo fluciuaii(yn, and it requires proteclion a¥¥ainst aiid the abilit to ccyiitiiiiie operaiiiig despiic Catastrophic or lesser but dnagIng events. Lsing the operatin¥ cosls of the curreiit Lar rh¢ l¢ir¥¢i free res<rv¢5 is ihcrcfurc £500,73.7. The fund balances carried forward 31 31 Au8U5t 2024 show a totsl of £?.691.249. A significanl proportion is represented. by the revaluation of fixed assets. Of these funds £146,697 are restrided funds and £606,747 are as a result of fixed asset revaluation and free reserves of £382,127. During the finan¢ial y¢ar ended 31. August 2025, Foresight is anti¢ipaiing the sftle5 of Ihe following development properties wl)ich are now in the hands of our solicitors and the purch&sers solicitors: 32 Reynard StreeL Spilsby. PE23 5JB-Sale price £122,5(Kl. l Yardy Court, Stallingborou8h. DN418FR-Sales price £350,000. FUTURE PLANS Over the next period the charity will be seeking io ¢onsolidale s¢rvic¢s to support our beneficiary base lo cope with the Currenl cost of living crisis. This will be achieved thTough constant promotion of our existing aGtivities though new51etters. our partnerships with North East Lincolnshire tntegraled Care Board and N'orth east Lincolnshir¢ Council with further development of a range of preventative service5 in line with the demands of the local health and social care strat¢gy and servicc5 and activity identified by our b¢ncficiary in line wilh the us¢r led dhos of the Charity. Page 8
Foresi North Ejst Llncolnsbire Ltd. rt of the Trustees for the Yr Ended 31 Au ust 2024 Wc will continLie to worf( with existing parlners and seek to develop new partnerships in ottler to maintain and expand the current learning and activity programme. To enhance this, we will be seeking to develop new initiatives in line with identified need. which will enAble our charity significanily expand our service offer lo address societal and Cost of living issues, meet ihe vocational and so¢ial aspirations of our beneficiarie5 whilst meeiing the aims and obj¢¢tiv¢s of our organisation. Thi5 is extremely important &$ we seek sustainability and also cnsures OUT pmgramme5 pri)vide a high-quality service lo move individuals fonvard in lile. As the charity continues to expand we will be seeking io enhance existing projects and develop new projects all aimed al raising awaren¢ss, ¢ombaltnE social isolation and improving individual quality of life. Areas we have identified a real need is the proviston of further independent living opportunities. the need to enhance our day servi¢e provision lo incoryx)rate the gre¢n agenda and the ptrntial kn expgnd our provision within North Lincolnshire lo coincide with th¢ opening of the Crosby Community Hub and the Potential to extend our independent living provision into the neighbouring authority. With this in mind diseu5sion5 are ongoing with the local authority with a View to ulilising vacanl siles for housing. STRVCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by it5 governing documen( a deed of trust. and constitutes 8 limited company, limited by guarant¢¢. as defined by the Companies Act 2006. Reerultment appointment of new trus1¢¢3 New truste¢s are r¢cruited to meet the needs of the org8llisalion, particularly to e$ the organisalion has Adequatc represenlalion from the user group, the partner organisations from the wid¢r third sector and public bodies. The or8anisation alg) endeavouts to have equal gender representation on the board of trustees. All prospective trustees arc interviewed by an existing trustee panel prior lo appoinlmenr. This trusl¢e ouilines the duties and responsibilities of a ¢nlee aTrJ the expe¢taiions of the organisalion. They port their findings and re¢ommendaiions lo the full ard of Iruslees who ihen vote on the appointrnent. Organisational structure I'he organisation employs paid staff who are delegated responsibility for decisions affecting ihe day-to-daj managemcnl of the organisation. Overall reswnsibility for the day-to-day managem¢nl of the organisation rests with the Chief olcer who will defer lo the tru51ees when deemed necessity. The organisation will appoiiit managrrsl coordinators for sp¢¢ifir projecis and ihese individuals will take Teswnsibility for their tnanageineiit, reporting back to th¢ Chief Officer and ultimately the board of truslees. All major decisions wilh r¢g41rd to funding, appoinm)ent of new 5tsff, disciplinary and major spending are undertaken by a ff presentative Eody of trustees or the hll board. The board of INstces have appointed trustees who lake responsibility for luiiion, finance, hcalth and safety. service delivery and building mainienance. The ¢Uent Chicf Officer of the organi5ation is Mr. P Silv¢ster, cmployed by the Organilon in July 200.3 and other senior manager5 are Mr. A Wilson, Financ¢ Ol¢er, Mrs L BartletL (ratIonS Manager and Mr J Port¢r Facilities Manager. In total. the organisation employs l O full iiFne stsff. l O part tim¢ staff and l Apprentice. Page 9
Foresi t North East Lincolnshire LtsL rt f th Trustees for the Yr Ended 31 Au ust 2024 Induction and trAininE of new trnstees New trustees can be co-opted onlo the governing body by the extsling IK)ard of tTUStees at any time. How¢ver, Ihis appointm¢nt has to be verified by the full membership at the Annual General Meeting. At the Annual General Meeting any retiring trustee may bc re-apwinted unless a resolution for re-apEN)intment is put to the meeting and lost. All new trustees are presented wilh a comprehensive induclion pack. which includes a trustce's agreement, job dcsLriplion, person specification, a guide to be¢oming a Irusiee and Televanl orgallisational intonation. Jn addition all trustees must complete a Conflict of interests register. The organisation has a p)li¢y of providing trdining sessions for both new and existing trust¢¢s. All twstees are offered training in trustee roles and resFKTrnsibilities and managing community buildings. In addition, all umstees are offered the same Irdining opprtunities &$ Ihe paid stsff. li is the policy of the organisation io work closely with local providers to ensure All Irus*es have high qualiry trnining made available to them, Key man4g¢ment remuneration The following are COT]sidered key management N)nnel and their band of remunerations for the accouffling period are disclosed as linder.. Chief Officer £60,000 £69.999 Finance Officer - £30.000 - £39.999 Proje¢t5 Manag¢r - £20,000 - £29.999 Facilitie5 Manager- £20,0(M) £29,999 REFERENCE AND ADMINisnL4TIVE DETAILS Registered Company number 04278151 (England and Wales) Registered Charlty nurnr 1095120 RIstered office 60 Neminerket Street Grimsby N E Lincolnshire DN32 7SF Pagc 10
Foresi ht North East Lincolnshirn Lid. rt of tbe Trnstees for the l'ear Ended 31 Au us¢ 2024 Trustees K A Fuller Mr A N Jewitt MTWJMKing Mr R Shepherd Mr P Hanley Mrs J Mitchell Mr D Newman Ms S Scott Ms P Taylor Ms C Doyley Ms P Fuller Mr C Hanson Mr J Laverick Mr L Meller Mr D Mit¢h¢ll Ms J Moon Mr M Smith Chair Apwinted on 16.06.2023 Appointed on 16.06.2023 Appointed on 16.06 ?023 Appointed on 16.06.2013 Appoinied on 16.06.2023 Appointed on 16.06.2023 Appoinied on 16.06.2023 Appoinied on 16.06.2023 REFERENCE AND ADMINISTRATIVE DETAILS Mr PE Bray MsJLea Resigned on 26.01 ?023 Res&gned on 16.06.2023 C.'ompany Secretary A Wilson Auditors SCB (Accountants) Limited 31 Sackville Street Manchester MI 3LZ Bankers Santander Bank 2 -frilon Square. Regent's place. London, NWI 3AN Pag¢ll
Foresi ht North East Lincolnshire Ltd. Re ort ofihe Truslees for Ihe Yt*r Ended 31 Au st 2024 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FIIYANCIAL STATEMENTS The trustees (who are also the directors of Foresight North Easi Lincolnshire Ltd. for the putP05¢s of company laiv) are responsibl¢ for preparing the Report of the Trnstees and ihe fin3n¢iat statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Prnctice) including Financial Reporting Stsndard 102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" Company law requires the trust¢¢s to prcpare financial slatements for each financial year which give a tn]e and fair vicw of the state of affairs of the chariiable company and of the incoming resources and application of resources, inLluding the income amd expenditure. of the charitsble company for that period. In prepaTing thost finaiicial staiemenls. the Iru51ees are required to select suitable accounting polici¢s and then apply them cons&stenily: observe the methods and principles in the Charities SORP 2019 (FRS 102)., mak¢ judgements and estimates thal are reasonable and prndent: state whether applicable UK Accounting Standards have been followed. subjecl to any material departures disclosed and explained in the financial statements,. and prepare the financial slalements on the going concern basts unless il is inappropriale to presume Ihal the charilable ompany will continue in business. Page 12
Foresi l North East LinrolDshire L¢d. rt of tbe TSlee5 for tbe Year Ended 31 Au u$1 2024 The trnstees are responsible for keeping proper a¢tIng records which disclose with reasonable accuracy at any time the tinanci position of the charitable company and to enable them to ensure that the financial slatemet]ts comply with thc Co)mpanics Act 2006. They are also resp)nsible for safeguarding the assets of the charitsble compat]y and hence for taking reasonable steps for the prevention and detection of fraud and other iegUlarItIes. The trustees are responsible for maintenan¢¢ and inl¢griry of the corporate and financial inforniation included on the charitable company's website. Legislation in the Uniled Kingdom governing ihe preparation and disserninalioii of financial statements may differ from legislation in oiher jurisdictions. ST ATEMENT OF DISCLOSURE TO AUDITOR Iii $0 far as the Intstees are awaTC- there 15 no relevant audit Infornil0rt of which the ¢harilable company's auditors #r¢ unaware. and the Iruslees have iaken all sieps ihat they ought to have taken to make themselves aware of any relevant audit infonnation and lo establish that the auditors are aware of that infornialion. AUDITORS The auditors. SCB (Accounlanls) Limited. will be proposed for re-appointment at the forthcoming Annual G¢n¢ral Meeting. This report has been prepared in a¢wrdan¢¢ with the special provisions of Part 15 of the Companies Act 2006 relaiii)g to small companies. Approv¢d by order of Ihe knard of tne¢S on ............... . and signed on its behalf by: KAFull Pag¢ 13
Re rt of the Inile endent .4uditors to the Members or Foresi ht lorth East Lincolnshire Ltd. Opinion We have audited the financial stalements of Foresight North East Lincoln5hir¢ Ltd. (the 'charitable company,) for the year elided 31 Augusi 2024 which comprise the Ststement of Financial A¢tiviti¢& the Statement of Financial Position. the Siatement of Cash Flows and notes to the financial ateMentS, in¢luding a SUTnmary of significant accounting policies. The financial reporting framework tbat has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Genernlly Accepted Accounting Practice). including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements: give a true and fair view of the state of the charitsble company's affairs as at 31 August 2024 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended- havtt been properly prepared ID accordance with Unitrd Kingdom Generally AcCepd Aecounting Practice. including Financial Reporting Standard 102 Ihe Financial Reporting Standard applicable in the UK and Republic of Ir¢land'; and have been prepared in a¢cordan¢¢ with th¢ rcquirem¢nls of the Companies Aci 2006. Basis for opinion We conducted our audit in accordance with International SLThdards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities und¢r Ihusc standards are further described in th¢ Auditors, re5ponsibililies for ihe Judit of ihe finan¢i41 st&ternents s¢¢lion of our rcp)rt. We are independent of the charitsble company in a¢cordan¢e with the ethical requirements that are relevant lo our audit of the finan¢ial statements in the UK. including the FRC'S Eihical Svdndard, and we have fulfilled our other ethical resw)nsibilities in accordance with ihese requirements. We believe that the audit eviden¢e we have obtained 15 SUtTici¢nt and appropriate lo provide a basis for our opinion. Conclusions rel&tlng lo going eoneern In auditing the financial statements. we have Concluded lh the irustees, use of the going concern b&sis of accounting in the preparation of Ihe financial ststemcnls is appropriate. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may casi significant doubt on the charilable company's ability io continue as a going coiicern for a period of at Icast twelve month5 from when the financial statements are authori5ed for issue. Our responsibilities and ihe responsibiliti¢s of the Irusl¢cs with respect to goin8 concern are described in ihe relevant sections of this rep)rt. Other inform•tion The tru.stees are responsible ft)r the oiher inforniation. The oiher inforn)ation comprises the infomation in¢lud¢d in the Annual Report, other than Ihe financial slalcmLnts and our Report of the Independcnt Auditors thereon. Our opinion on the financial statements does not cover th¢ other infomiatiom and. excepl to the e%teni otherwis¢ explicitly slated in our rer4 we do not ¢xpr¢55 any forni of assurance conclusion thereon. In connection with our audit of the financial statemenis. our re5FX)nsibility is to read the other inforniation and. in doing so, Consider 'hether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appear5 lo be materially misswcd. If we idcniify such material ineonsistencies or app8rent material misststements. we are required to dderniine whether this giv¢5 rise to & material misstat¢ment Tn ihe financial statements themselves. If, based on the work w¢ hav¢ perfonn¢d. we conclude that there is a material misstatemeni of thi5 Other infornialion, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters preseribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infornialion gtven in the Report of the Truslees for the financial y¢ar for which the financi statemcnts are prepared is consistent with the rtnancial statements- and the Report of the Truslees has been prepared in accordance with applicable leg81 requirements. Page 14
ort of the Inde ndent Auditors to the M¢rnbers of For¢si hi North East Lincolnshi Ltd. Continued Mallet on wbieh we art required to report by elceptio In the light of the knowledge and understanding of the charitable company and its environment obtained in Ih¢ wurse of the audil we have not identified malerial misstatements in th¢ Report of the Tnlee5. We hai'e nothing to report in r¢spect of the following mattws where the Companies Aci 2006 wuires us to report to you it. in our opinion.. adequate accounting records hav¢ not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting Tecords and returns. or ccnain disclosures of Iru5tees' remuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit; or the trustees were not eniitled lo lake advantage of the sma]I company's exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trusiees. Responsibililies of trustees As explained more fully in ihe Statement of Trustees. Responsibilities. the Iruslees (who are also the directors of the charitsble company for the purposes of company law) are responsible for ihe prepar&tion of ihe financial statements and for being sat15fied that the. give a tnJ¢ and fair view, and for such internal control as the trustees detemiine is necessary lo enable the preparation of financial statements that are free from materia] misslatemenl, wh¥iher due lo fraud L)r error. In preparing the financial statements. Ihe trusle¢s responsible for assessing the charilable company's ability lo continue as a going concern, disclosing, as applicable, matters related io going con¢ern and using ihe going coi)cern busis of cOuntIng unless the trustees either intend io liquidate the ¢harilable company or lo cease operations, or have no realistic alternatsve but to do $0. Our responsibillties for the audit of the fin4ncil stattmtnts Oiir objectives are to obtain reasonable assurarEce About wheiher the financial stat¢menls as a whole are free Irom material misstatemen¢ whether due to fraud or error, and to issue an audilor's report that includes oiir opinioii. Reasonable assurance is a high level of assuran¢e bul is nol a guarantee chat audit conducted in ac¢ordance with ISAS (UK) will always detect a material misstatement when it exists. Missialements ca# arise from fraud or error and are considered material if. individually or in the aggregaie. Ihey ¢ould rcasongbly be expected lo influence the economic d¢¢i$ion5 of users tsken on the basis of these Iinancial slaternenl5. Irregiilarilies, including fraud, ar¢ in51ance5 of non-lompliance wilh law5 and regulalions. We design procedures in line wilh our responsibilities. outlined above. to detect material misstatements in respect of irregulariiies, ineluding fraud. The extent io which our procedures Arc capable of detecting irregularities. including fraud, is detailed below.. Ive gained an understanding of the legal and Tegulory framework applicable to the Company and the induslry in which il operates, and Considered the risk of ac15 by the company that were contrary lo applicable laws and regLilations. including fraud. We discussed with Ihe Directors the policies and procedures in place regarding wmpliance wilh laws and regulation5. We dis¢uss¢d amongst the audit tearn th¢ identified laws and regulations. and remained alert to any indi¢iltiony uf non-compliance. During ihe audit we foeussed on laws and r¢gulalions which could reasonably be exp¢ed give rise to a material misst&tLment in ihe financial statements, including. but not limited to. the Companie5 Act 2006, UK tax legislation, Charity Act 201 I, SORP 2019. Our tests included agreeing ihe financial statement disclosures to underlying supporting documentation and enquiries With management. Our procedures in relation lo fraud Included but were not limil¢d to.. inquires of mallagefftenl whether they have any knowledge of any actual, 5uspect¢d or alleged frdud: and discussions amongst the audit learn re8ardin8 risk of fraud such as opportunities for fraudulent mar>ipulation of financial statements. Ive detem)ined that the principal risk5 related to Posting m&nual journal entries io manipulaie finaJ)c1 perforn]ance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls. including testitTrg journals and approprialcness of other entries in the nominal ledger. reviewing transaclions around the end of the reporling period: and evaluating whether there was evidence of bias by the directors that represented a risk of maicria] misstatement due to fraud. Page 15
Re rt of the Inde endeni Auditors to the Members of Foresi t North East Lincolnshire Lt(L Con¢inue41 Because of the inhereT¢t limilations of an audiL there is a risk that wc will not detecl all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulatioT) is removed from the events and iransaclions reflected in ihe financial Stalements. as we will be less likely to become aware of instsnces of non-compliance. The risk is also greater regardin8 irregularities occurring due to fraud rather than error. as fraud involves intentional concealmenL forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial slatemcnts is located on the Financial Reporting Council's websile at www.frc.org.uklauditorsresponsibilities. This description foTms part of our Rert of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of Ihe Companies Act 2006. Our audit work h&$ been undertaken so that we might state to the charitable company's members those matters we are required to state lo them in an auditors, rew)rt and for no other purpose. To the fullest extent pemiitted by law. we do noi accept or assume r¢Snsibl]Ity to anyone oihcr than the charitsble company and the charitsbl¢ company's members as a body. for our audit work, for this rer¢ or for thc opinions wc have fonned. Jeffrey Bor CA (Senior Statutory Auditor) For and on behalf of SCB (Accountants) Ltd 31 Sackville Sire¢l Manchesler MI 3LZ Date.. £qISlt£ Page 16
Foresi ht Nortb East Lineolnshire Ltd. Ststement of Finneig1 Activiti for ihe I'tar Ended 31 .4 ust 2024 Ilnrestrict¢d Rev•11$0 Fu Reserve Re5tiicttd Noles 2024 2&23 JntotE Grants and tk)natiorL4 180.059 284.397 464.456 525.IK>5 Incon frtsm charitable activiues 585.632 5R5.632 524.027 lllc1)n frTrm Otr trading actii'ities 38.420 38.420 6.3.564 Iniesbnertt it 101.235 101235 90.896 Ottrr iTKon 41399 42,399 271.522 Tntal ineome 947.74$ 284J97 1232,142 ,47.S,&14 Expenditv C'.ost ol'raisiTE hll¥Js 82.846 82,846 109.17$ Expetjliture on ¢haritable a¢bvities 748,537 279.159 1,027,696 1.077.230 Total eipeThlttuYe 831.383 279 1.59 ,110,442 1,1116,40S N¢¢ income I l¢xp¢tNlitur¢) & n¢t ill fumlj r•re & kJsse on DveitThnts 116,362 5,238 121,600 288.609 RL'versal of revalualion on freelKJld Property 16741.11451 Nel movemettt In 116J62 121,61>0 138S,4361 ReconciliafiOK offunds I'otal f[s, brought forWd 21 1.751.443 606.747 141,459 2.499,649 2,8Y5.085 'rv¢#l funth, CAnied frtrnvmnl 606,747 146,697 2,621,249 2,499,649 The Statement of Financial Activities also complies with the Tequirements of an income and expenditure account under the coPu7Cs Act 2006. All amounts relate to continuin8 gclivilies of th¢ Charitable company. The Slalement of Financial Aclivities inclvd¢s all gains and los recognised in the year. Ilie notes io ihe ac¢ounls ar¢ shown on pages 21 to 37. Page 17
Foresi ht North Easi Lincolnshire Ltd. Statement of Financial Position Asa¢31 Au st 2024 Notes 2024 2023 ixed assets Tangible fixed assets Invesknrnl property 13 14 2,748,150 ,703.755 2.745,309 ,604,912 4851.905 4JSOJ21 Currtnt a5sels Debtors c.ash al bank aThJ in haThl 15 237,876 497,283 735,159 245,737 615,716 861.453 LiAbilities Creditors fAlling due within one year Net current 45sets 16 1206.335 {274.656) 528,824 586,797 Creditors fallin¥ due after one year 17 (2.J59,480) 12,437,369) Net xsse¢s 2,621249 2,499,648 The fund5 of the charity Unrestricted fis. General Revaluation Reserv¢ Restricted fuThls 21 21 21 1,867,805 606,747 146.697 1,751.443 606,747 141,459 TotAI charity fun(Lq 2,621349 2,499,649 The Trustees have prared accounts in accordance with S¢rtion 398 of ihe Companie5 Act 2006 and Section 138 of the Chariti¢s Act 2011. These accounts ar¢ prepar¢d in accordance with Ihe special provisions of Part 15 of the Companies Aa relalin¥ tu Smdll companies and constilule the annual accounts required by the Compani¢s Ath 2006 and are for circulation to members of the company. The financial lements were approved by the Board of 1'neeS and authorised for issue oli and were signd on ils behalf by.. KAFU - Trustee The notes to the accounts are shown on pages 21 to 37. Page 18
Foresi ht North East Lincolnshire Lt Statement of Cgsh Flows for the lear Ended 31 Ay ust 2024 2024 2023 Notes Cash flows fn>m 0[til¥ activities Cash g¢iKrated from operations Int¢rcst paid Net rash generated from l u4ed in 0rAtIng aetivrfies 378,901 187,227 191,673 643,997 151.135) 492,86? Cash tlows from Investi activities Purchase of tangtble fixed assets InVestnnI property Interest received Ca8h pnpvided by investing attlvlties (251.931) (235,1641 (228,566) 28,013 223,918 443.4481 Cash flows from finAnting #etivities New loans in year tDan repa)rnent irt year Cash provided by investing activities 86,188) 86,188) $2,257) 152.257 Retained e4rning Adjustmen¢ 10,977 Increase in cash & c05h equivalents in the year 118,433 8.134 Cash & cush equivalents at beginning of the year 615.716 607,-582 Total cash & cash equivalents At the eNI of the year 497283 615,716 Page l9
Fores ht Iyorth E#st Lincolnshire Ltd. ]Yolcs ¢0 the Sialemenl of Cash Flows for the Year Ettded 31 Au st 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 N'ei MOlment in Funds Add back depreciation Ded,1 Interest received Inlercsi paid Decrease / (increase) in debitsrs Increase l {decr¢asc} in creditors Net tash gellernted froml thsed in0rat8 a¢tlvhks 121,600 150.248 {28.0131 l87,227 7.861 60.023 378.901 288.609 177,781 {20,28 151.136 {37,658} 84,411 643,998 ANALYSIS OF CHANGES IP4 NET DEBT Anatysls of c1tht ID n¢¢ debt At 01 Septernixr 2023 At 31 Aust 2024 C&shflow Net C#5h Lash at bank and in hand 615.716 61S716 (118,4331 (11&433) 497,283 497.283 Debt$ Debts tallin8 d within year Debts falling after year (72,467) 2,348,712 (2,421,179) 136.636 4,708 192 4W4028 64.169 2 359,480 2,423ffj49 Total IH15,463 4,720 J96 2,920,932 Page 20
Foresi ht Iyorth East Lincolnshire Ltd. Notts to the Finaneial Statements for the Yegr Ended 31 Au st 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5- Statemenl of Recommended Practicc applicable to charilies preparing their accounts in cordanCe with Ihe Financial Rep)rtin¥ Standard 3pplicabl¢ in the UK and Republic of Ireland (FRS 102) (effective l January 2019} - (Charity SORP (FRS 102) Revised), The Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The group has opted for an early adoption of Charity SORP (FRS 102) Revised. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amoullts in these finatbcial slatemenls are rounded to ihc nearcst £. Foresight North East Lincolnshire Lid meets ihe definition of a public benefit entity under FRS 102. The accounts {financial statements) have been prepared under the historical cost convention with items recognised at CO91 or transaction value unless otherwise stated in the relevant note(s) lo ihese accounts. PREPARATION OF ACCOUNTS ON A GOING CONCERN BASIS The Charil) 5 Financial Stalemenls shows a surplus of £121.600 (2023.. d¢fJcit of £385,436) for the year and free reserves of £382.127 (20?3: £445,338). The Trustees have 3SS¢5sed wheiher the use of the going concern b&si5 15 appropriate and have consid¢r¢d possible events or condilions that might cast significant doubt on the ability of the charity to continue as a going ¢on¢ern. Trustees will continue to mortitor and ensur¢ spending to be done irt linc with incorne in order lo maint3in largel level of reserves. The review of cashflow for 12 months from the date of approval of tl)e financial statements. the &ssociaied &ssumptions that underpin IL secured new inwme and the sieps that could be taken io reduce expenditure should this b¢ neLessary. Based on the infornialion above, the Trustees have a reasonable expectation that the charity h&s adequate resources io continue in operation for the foreseeable fuiure and will remain surplus in future periods. Ther¢fore, the Iruslees have adopted the going concern basis in preparing these accounts. INCOME All inwme is recognised in the Si8t¢mcnt of Financial Activities once the charity ha5 entitlement to the funds, il is probable Ihal the income will be rCIVed, and the amount can be rneasured reliably. (a) Income re¢eived by way of grnnis. donations and legacies is included in full in Ihe Siatemenl of Tr inancial Activities when received. unless they relat¢ to a specified future period. in whi¢h they are deferred. (b) Lega¢ie5 entillement 15 tak¢n as th¥ carliLr of Ihc datc on which eitheT.' the charity is aware that the probale has bccn granted, th¢ ¢stak ha5 been finaiised and notification has been made by the cxccutorfs) to the Charity that the distribution ts made. or when a distribution is receivcd from the estate. No legacie5 were received during the year. (c) Income from charitable activiti¢5 received by way of revenue grants and donations is credited to r¢stri¢ted incorning re50ur¢¢s on the earlier date of when they ar¢ r¢c¢iv¢d or 'hen they are receivable. unles5 Ihey relare to a specified future period. in which case they are defeffed. {dl Grants and donations of general nature which are nol conditional on delivering certain leve15 of Service are includ¢d as part of Grants. tk)naiions and Legacies as shown under note 2. Perforniance related grants and donations which hmve condition5 for a specific outcome are include as Income from Charicable Activities as shown in Note 3. (e) Capital grants. for the puh of fixed asset5 are credited to restrict incoming resources on the earli¢r date of when they aTe received or Tecetvable. Depreciion on th¢ fflated fixed assets is charged against th¢ re5tricled fund. (fj Income from Charitable activities includes income recognised as earned {a5 ihe relad goods and servtces are provided) under ¢ontract, in the forni of training income and s¢ of resou¢$. (g) Investment income is included when recelvable. Pa8e21 ¢ontinu¢d...
Foresi ht l%orth East Llneolnshire Ltd. L¥otes to the Financial Stalemen¢s for the Year Ended 31 Au st 2024 ACCOIJNTtNG POLICIES- cotInUed EXPENDITIIRE Liabilities are r¢Lognised as expenditure as )0n as there is a legal or CA)nstrnctive obligation ¢ommitting th¢ charity to that expenditure. it is probable that a transfer of economic beThef will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under h¢adings that aggregale all wsl related to the category. Where costs cannot be directly attributed to particular headings. they hav¢ been alloc&ed to ti¥ll1eS on a basis consislent with the use of resources. ALLOCATIOiY OF SUPPORT COSTS Support C4)srs are those functions that assisi the work of the group but do not directly undertake charilable activities. Support costs include legal and professional charges, bank char8es and governance costs which suppurt the group's programmes and aciivities. These ¢0sls have been allocaied between cost of raising fiinds and ¢xpenditure on ¢haritable activities. The basi5 on which support costs have been a]located are set out in note 8 and 9. TANCIBLE FIXED ASSETS All fixed assets are recorded initially at cosi. Freehold PToperty is included al op¢n market value and updaled on a regular basis by an independent ¢hart¢r¢d surv¢yor. Eh Yr. Trustees review the valuaiions in order to identify if any impairnient is due. Expenditure relating to tangible fixed assets is expe¢ied to be used over several years and where the asset cxceeds £1 OQO, they 8re capitalised at eA)st and depr¢¢ialcd ovcr their estimated useful economic lives. tkpreciation is provided al the following annual rntes in order to wri* off each &sS¢t over its Cstimatcd u5etul life. Freehold property Long l¢asehold Plant and machinery Fixtures and fittings 40/0 On Cost 40/0 on cost 200/0 on ¢ost and 33Yo on reducing balance 330/0 OTr Cost and 2¢Y/o on reducing balance INVESTMENT PROPERTY Investment propeny is showm at mosi recent valualion. Any aggregate surplus or deficit arising from changes in fair value is recognised in ihe Sialemenl of Financial Activities. TAXATIO The charity is a registered ¢harity and. therefore. is nol liable for Income or Corporation Tax on incom¢ derived from its ¢haritable activities. as it falls within the variou5 exemptions available to r¢gist¢r¢d chariti¢s. FUIYD ACCOUNTILYG Unrestricted funds can be us¢d in a¢¢ordanc¢ with the clwitsble objectives at the discretion of the trustees. Restricted funds can only be used for p8rticular restricted purposes within the object5 of the charity. Restrictions arise wh¢n specified by the donor or when funds are raised for particular restricted purposes. Further exPlatIOn of the natu and pUTse of each fund is included in the notes to the financial slatements. 1.10 PENSION COSTS AND OTHER POST-RETIRKMENT BENEFITS The charitable company operales a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged io the Statement of Financtal Activities in the period io which they relate. DEBTORS Trad¢ and sundry debtors are recognised at the settlement amount due. Prepayments are valued al the amount repaid net of any trade discounts due. Page 22 continued...
Foresi ht North E#st Lincolnshire Ltd. Notes to the Financigl Stgtements for the lear Ended 31 Au ust 2024 ACCOUNTING POLICIES - continued 1.12 CREDITORS AND PROVISIONS Creditors and provisions are recognised where the charity a present obligation rcsuliing from a past event that will probably result in the transfer of funds to a third party and the amouni due io s¢¢tle the obligation can be measured or estimated reliably. CreditOTS and provisions are nornially recognised at their settlement amount after allowing for any trade discounts due. CASH AT BANK AND IN HAND Lash at bank and in hand includes cash and 5hort-tem cash deposits. 1.14 "INANCIAL INSTRUMENTS The ¢harity only has financial assets and financial liabilities of a kind that qualify as basic findncial instrumenis. Basic financial instruments are initially recognised at tr2nsactiOD value and subsequently measured at Iheir settlement value with the exception of bank loans which are subsequenily measurcd at amonised cost using ih¢ effective inlcresl method. JUDGEMENT AND KEY SOURCES OF ESTIMATION UNCERTAINITY In the application of the company's accounting policies, the charity is rcquired to make judgmenls. estiin8tes and assumpiions about the carying amount of assets and liabililies Ihat are nol readily appareni from oiher sources. The estimates and as50ciaied assumptions are bed on historical experience and other farlors that are ¢onsidered lo be relevant. Actual results may ditTer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revisions to accounting esiimates are re¢ognised in the period in which the estimate 15 revised where the revision affects only that period. or in lh¢ period of ihe revision and fulurc periods where the revision affects both Quent and future periods which are addre$5¢d as below.. Useful economic lives of thngible assets- Depreciation of tangible fixed assets has been based on estimated useful lives and residLtal values deemed apprOprie by the tru5tee5. Estimated useful lives and residual lives are reviewed annually and revised as appropriate. Revisions take in to account actual assel lives and residual values as evidence by disposals during ¢urrent and prior accounting periods. Page 23 continued...
Foresi ht Yorth Easi Lincolnshire Ltd. Notes to Ihe Financial Statemen¢$ - contillutd (or the Year Ended 31 Au ust 2024 DONATIONS AND LEGACIES Unr¢$iritied Reslricted 2024 213 Diinations CJl'aYits 24.131 155.9?8 I80,(9 24,131 46.757 440,3?5 478.248 464,456 52fj,005 284.397 284J97 Granl rccetwed, I1led in the above. are &8 follom's: IINrestricted Restricted 21124 2023 Aciive Humb¢r Arts CourKil Grant B¢rrd Sunley Foundation- Grnnt- Activity Certre Bradley Birmiiigham City CnutKiI British Science Association charities Grant Charity Ejank Limit¢d F.ncr&Y Saving Esc Lottery FutMI ForumCIO Garfield Weston Fourmlation IILV 8IMil¢ F(iundaiion- Humher TrarLsfiirmin8 Care Cirant InnovaQ Uk- Researching rhe Easi Marsh ComtrnJNty Grant Main Cjrants - EtLSt Coast Convnwiity Ftnj Main Grants- My Lifc's Too Costly Grant 1ercers l-rusiee Grant Motability Active Travel Grant National Herit&g¥ Fu1 NEA Gi'ani NHS N¢ Lincolnshirc - Health Check Buddy s¢ Grart North East LirKs Grunt NarihL"rn lrnpact Fund tklivery Conyany- Key Grant Od*r Grarrts < £5.OLM) Projeei N¢1¢ Befri¥ndin8 PSP Service R¢search Ready Conrrity Charr10 ProgranTh R(iy Soc Of Chem- Science Week (irant Scope Pa)Ttrnts - Cjranl Sntsrt¢r Encr L¢d LilIng Grant Sport Is Leading Tk Way Grant 22123 stalg I"utor- L£arners S(alTin¥'l'uÉDr- vullteerS TF.C Parth¢rship 'I'he Rotsd Saf¢ty'l r1 Woltson FouThdation Grart YDiiih Fimd YPS (SUMnr 2022) 3,287 12.577 12.577 5,000 4,0110 500 1,000 16,292 75,000 16.292 75.IM)O 16.152 21.3119 40.505 5,000 4,346 6,500 4,346 6.500 4.996 6,243 11,509 18,731 18.731 10,(X() 10.000 30.000 19.948 12,104 250 23,552 20,558 106,382 40,911 30,000 39,948 12,104 44.073 250 23.552 20,558 3.770 3.770 25.1)00 25,¢M)O lo,0 25.(J)O 10.(M)O 998 59,132 3,542 9.360 16.OL)O 4.000 2,500 8.850 2,5rA) 8,850 36,700 93,195 93.195 5,0 440J25 47148 ISS928 2W97 The donations and legacies in 2023. tothllimg £478.248 were attributed £221,340 to unrestricted funds and £256,908 10 reslrict¢d fLmds. Page 24 LKTrntinued...
Fores ht North East Lincolnshire Ltd. Notes to the Finaneial Statements - ¢ontinlled ror ihe Tr'ear Ended 31 Au ust 2024 INCOMI: FROM CHARITABI.E ACTIVITIES UDrestricted Restricted 2024 2023 Appeals atxl donation% Rcntsl incor Room hire Minstcr Road ¢har8¢S C()ntractual Ir* from wvL 33,679 171.654 220.581 119,718 40.0(KJ 585ffj32 33,679 171,654 220.581 119,718 40,000 585,632 150,814 181.753 120,488 40.OIXI 524,027 Income from chaTitabl¢ aclivities in 2023. iotalling £524.027 We attributed kn unresirictrd funds. OTFIER TRADING A1VITIEs Unrestiicled R¢strirted 2024 2023 The Wareho 38,420 38,420 38,420 38,420 63.564 63564 Incorne from other trading activities in 2023, lotalling £63.564 were attributed io unre5Iricd fund. S. INVESTMENT INCOME Unrestrieted Rtstriettd 2024 2023 Rents received Solar feed in tariir Bank interest Loan interest 53,806 19,417 22.556 5.457 101.235 53.806 19.417 22.556 5,457 101,235 39.732 30,882 15,499 4,783 ,1196 Income from investments in 2023, totalling £90,896 were attributed to unreslricled fund. Page 25 comiinued...
Foresi ht Norih East Lincolnshire Ltd. Notes to the Fillancial Ststements - continued forthe Ye4r EDded 31 Au SI 2024 6. OTHER INCOME unrn$tttd Re5tri(ted 2024 2023 Business support InSUrae claim Stmdry iOme 15.IMM) 7,365 20.034 42,.3Y9 1 s,rMM) 7.J65 271,507 ?0,034 15 42.399 271.522 Other incorne in 2023. totalling £271.522 wcre attributd to unrestricted fund. 7. RAISING FUNDS Unrestritled R¢8tricteil 2024 2023 Raising Donatio5 and Leyeles DorMiion$ Wages ¢xp¢nse TeleplK)nc ewense 1.750 37,055 10.644 49,448 ,750 37,055 10,644 1.300 53,951 9,946 65.197 OtherTrnding Activities Purchases Office and prertmses experLqes Other expense$ 5.955 27,258 185 33,398 5.955 27.258 185 5,500 38,462 16 43.978 Awegate anx)urts 82.846 82,846 109,175 The charitable and lolal activities cost in 2023. tolalling £109,175 were attributed to unreslricted funds. Page 26 cont2nued...
Foresi ht E¥orth East Lincolnshire Ltd. otes to the Financial Statements - Continued for tbe Trear Ended 31 .4u ust 2024 8. CHARJTABLE AcfiviTIES COSTS Unrestricted Restricted 2024 2023 Direct cosLs (See below, ) SLEPPOrt Costs (Note 9) tioi'ern&nce costs (Note 9) 728.238 5.879 14,420 748,537 279,159 1,007.397 5.879 14,420 1.027,696 1,047,887 13.072 16,270 .077.229 279.159 Direct Costs Wa%¢s ()tTILe and pr¢mis¢s ¢xpens¢s epreciatinn Dt lixed &8seL% Insui'lle Inierest payuble on lua FLUraisIng costs I rav¢lling eN)¢nscs Posiage dTrJ stationery 8(IbscripiiorLb and dona¢i0Th8 Surklry costs 113.542 144.372 150,248 61.747 187.226 7.664 22.342 14.766 9.286 17,046 728.23¥ 212,891 45.340 326,4.13 189,712 15n.24X 61.747 187,226 18.048 306,524 189,9311 177,781 51,245 151.135 7,477 116.184 15.986 8,867 22.7)8 1,047,1187 10,384 10.544 14.706 9.286 17,046 1,007.397 27().159 The cliaritable and loial activities Cosi in 2023, 10lalling £1,047.887 ere attributed £789,438 to unrestricied fvnds and £258.449 to restricl¢d funds. SUPPORT COSTS Unres¢rieled Restrfcted 2024 2023 Support costs t£gal and professional Bank Charges 4.613 .266 5,879 4,613 1,266 5,879 11.792 1.280 Cjovernance costs ACCOlancY ftes late Filing Penalty Sundry Audilor5' rerniirrration 2.600 100 20 11.700 14,420 2.600 100 20 11,700 14,420 13,235 16,?70 P8ge 27 continued...
Foresi ht North East Lineolnshire Ltd. otes to the Finaneial Ststements - tontinued forthe Year Ended 31 A 2024 io. NET If4COMEI(EXPENDITURE) Net incomel(expenditure) is staled after chargingl{CTediting)= 2024 2023 Awlitorx. r¢mwrralion Ikpre¢iation- owned assets A¥uowWAtKy fees 11.700 150.248 2.600 164.548 13.235 177.781 3.035 194.051 TRUSTEES, RE.MUNERATION AND BENEFITS There was no tTUStees' remuneration or oth¢r benefrts for the year ¢nded 31 August 2024 (2023= £Nil). TRUSTEES, EXPENSES Ther¢ were no trustees, expens paid for the year ended 31 August2024 nor for ihe year ended 31 August 2023. 12. STAFF COSTS 2024 2023 Wages and Salaries Social security costs Pension 325,999 324.183 27.107 29,49? 6.801 360 476 360 646 Page 28 continued...
Foresi h¢ North East Lincolnshire Lid. Notes to the Financial Statements - eontinued for the year Ended 31 Au ust 2024 12. STAFF COSTS (Contd) STAFF NUMBERS 'I'k oicrage rthlY nr ol"¢nyl0S dwirgtk )f ar We as follows: 2024 24 202J 26 Averdgy 2024 16 2023 15 Dircci clwitsbl¢ work Administtaiive work lutl equivdient nr of ¢nylo)r¢s dLringtrc ar w¢r¢ 17 (202J . 17) "tk cFority h&$ a 150 volunteer wkn has equated in excess of 26.000 volutte¢r durirtrg tr£ year. In tern of nnber this 1.4 equivalent twelve lithl linr strft'posillOIL8. Th¢ nlthr of ¢ry[oycc wlK)s¢ totsl enplojee bertlits exclulirg perGion Contribl()rLs eaming over £(rf).000, clas%ili¥d wiiliiii botyis of £IO,QOO is as follows.. 2024 2023 £60.000-£69.999 KEY MANAGEMENT PERSONNEL REMUNEIi4TIO T1 key nllna&rrtrni person1 uf ckwiry conyris¢ Clycf Execuiive Offieer Fitwwe Director. The toral reMry10 ofkew tMrogeThYnt r$Onl dwing year was £107,247 (2023.. £102,685), 13. TANGIBLE FIXED ASSETS Freehold property LeselKbld P14nt and pn)perty mchlnery Trlxtures. fltting5 And equipment TutMI CoJt or Valu4tlon: As al I SL'ptcmbLr 2023 AddiliotLS Dispos81s A5 at 31 Aust 2024 2,633,749 143,351 690.184 67,149 286,003 9,738 3,fi77,1)N5 153.11()11 2,777,100 690,184 67,149 295 742 3.810,174 Depttciatio As at I September 2023 Written off Chdrg¥ fur yrar As at I l A12024 480.592 115,869 66,939 (7.¥21¢) 2,652 268.376 911.776 17.82% j 158.071) 122.111 27.607 5,706 274,082 60? 703 143.476 61.763 .11¥7.1124 Iyet Imjok vah*: As at I September 2023 2.153,157 574.115 210 17,627 2.745.3a9 As At 31 Augusi 2024 2.174,398 546,708 5.385 21.6611 2,748.1 io Page 29 ontinued...
Fores t North Eas¢ iAncolDshirt Ltd. Notes to the FiDanciAI StA¢emtnts - colltinued for the Year Ended 31 Au st 2024 13. TAIYGIBLE FIXED ASSETS (CoDtd) Freehold land included within freehold property is nol depreciated. An exlen)al valuation of the Freehold property was undertaken by Independenl Qualified Chartered Surveyor on 15 June 2022. The valuations were made in accordance with the RICS Appraisal and Valuation standard5. 14. INVESTMENT PROPERTY Investment Property Cost or V%luatiDn: As at I S¢pt¢mber 2023 Additions during year RevalLMlion ,604,912 98.841 As at 31 August 2024 1,703.755 An exlemal valuation of the invcslrnent property was undertaken by Independent Qualified Chartered Surveyor on 15th June 2022. The valuations wcre made in accordance wilh the RICS Appraisal and Vuali0n Stsndards. 15. DEBTORS 2024 2023 AnKJut*s falling dl within one year.. Tvdde debtors Other dcbiors tA)arns receivable Prcpaymenls 122,518 668 70,092 44,598 237,876 135,529 320 64,635 45,253 245,737 Included within debtors is a loan of £60,0 to Estuary Homes CIC. This loan is repaid in full on 17th Deceinber 2024. Page 30 continued...
Foresi ht North Et LFlleolnshire Ltd. Notes 14) the Financial Stgtements- cOtinUed for the Tr-ear Ended 31 Au ust 2024 16. CREDITORS: AMOUNTS FALLI]*G DUE WITHIN ONE YEAR 2024 2023 Bank loans overdrafts (see nole 18) Trade creditors VAT Deferred Pen5iO Accrued eXpe8¢S Net wages 64.169 74,473 1,591 30,000 1.941 32,878 1,283 206J35 72.467 135,260 3,710 30.000 1.569 30,413 1.236 274,656 17. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAIY ONE YEAR 2024 2023 Bank loa (see Th)le 181 Other loans Isce note 18) 2.359,480 2,348.712 88,657 2,437,369 59,480 18. LOANS An analysis of ihe maiurily of loans is given below: 2024 2023 AtmWll5 falling within orr year on dcnwrnl: Bank Lo 1.14,?77 134 277 72.467 AnM)urt8 falling beD¥een one and Iwo years: Bank LA}a[ 1.2 ycars 70,108 59.008 70.108 AErK)wrts lallingi du¢ tLTheen Iwo a1 tive years: Bank LA)an% 2.5 y¢aTS Other Joar 2-5 years 240.147 204.682 88,fi57 293.339 All)5 fallingde in nM)re five years: R¢payable by instalments with 3 /0 rate of inteKsl Bank loaL4 nre Ilmn 5 years 2,049J25 2,085,022 Page31 continued...
Foresi ht North East Ltncolnshire Lt Notes to ihe Financial Staiements - tontinued for the Year Ended 31 Au $12024 19. SECIIRED DEBTS The following secured debts are tncluded within crediiors: 2024 2023 Bank loan5 2,423 649 2421 179 Thc loans are sceured by Fix¢d and Floating charge against th¢ following properti¢5: 60 Newmarkei Sireel, Grimsby 146 Freeman Street, Grimsby Anne Askew House, South Marsh Road, Sthllingborough 2 Manchester Street, Grimsby 165 Frccman SireL.I, Grimsby - 2a Stanley Street. Grimsby ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrn$trict¢d ReJtri¢ted RevaltIOn Tol*l funds al 31 Rc$erve5 August 2024 'rangiblc Fixcd Assets 1nvcstrrRt prop¢rti Net current Assets Inng lemi liabilities 2,209,229 ,635.9?9 382.127 2,359.480 1.867,805 538,921 67,826 2,748,150 1.703.755 528.824 9 359.480 ?.621,250 146.697 146.697 606.747 Anglysls of fund bal#nees between net issets for the previous year was as follows: UDrestrieted funds Restriet¢d runds Revaluatlon Totgl fund4 at 31 R¢seThes AUst 2023 Tangibl¥ Fixed Asseis Investment proTxrty Net current Assets tem) littbilities 2.206.388 ,537.086 445.338 2,437.369 1,751.443 538,921 67,826 2,745.309 1,604,912 586.797 2.437,369 2,499.649 141.459 141,459 606.747 Page 32 continued...
Foresi bt North E2st Lincolnshire Ltd. Notes lo the Finaneial Stalements - continued for tbe Tr'ear Ended 31 .4u st 2024 21. MOVF.MENT OF FUNDS Othtr eo8llt5¢ 31 At 21124 2023 Int0Tr5 ExpeJli¢wYs Trntsfer RES'fRicfED FVIYDS Activ¢ Humb¥r Elirningham Litj. CO7] Brilish Solere Associaiii) Wolfson FOdtion Grutx S¢op¢ P8sThrKS- Grant %pori Is Ixading Tr Way Grani 22r23 Sifting Tutor . L£anKr8 Stafting I'uior . Voltmtctr5 Mo)thb)lity' Active Travel tirtt He)'.Smile Foundation- Hthiknr Trartsforrnin8 Carc Cjrani InN)v¥ie Uk- Res¢&rLhin8Tr Marsh cort)ty Grant Mercers Trlee Grant Garfield W¢sion FoLywJ81ion.OARS.W'¢stL Charity Award Gra Naiional HeuÉae Ilistory of Foresi Grattt MAin Grtsi]ts- Err&' Saving InveSthllt F- Ylb R¢liubisknxrrt 87 225 187) 12251 (1.() 1352301 {41.146) (6.968) (12.251) (3.560) (42.636) 36,700 41,146 6.968 12.251 J.560 26.067 1,470 39.948 23.379 4.696 {4,690) 18,731 30,¢1 (12.488) (32,400) 9,759 6,51X) 6.-500 12.104 16.152 (12.104) (16.1521 ijrant 93,195 (4.1621 891,1133 284J96 146,61)7 IINRESI'RJCTED FUNDS Gera1 ffiJ[s Rewalualion reserve 1,751.443 606.747 947,745 {831 J83) 1.1167.805 ()U(1.747 2,474,5$2 831J83 1232.141 2.621,24Y Page 33 ¢ontinued...
Foresi ht North East Lincolnshire Lt(L Iyotes to the Finantigl Statements- Continued f rthel, arEn st 2024 21. MOVEMENT OF FUNDS-COPfflNUED Ballrrtt at I Stpltthr 2022 Othtr cognised g4inl{105$e$) BalaM¢¢ 01 TrnNsf¢r 2023 RESTRICTED FL',YDS Actii'¢ I Iwnb¢r Elirtningham CiLy COW1[ Elriiish S¢ierte Associaiiort Roy Soc Of Chem- Science Week GTant FoundaÈion Grant Slope Pa%llts . Gta Sporl Is Lcading'l'he Way 21123 SLLifin8 Tutor- Lellrrtrs Stalling Tu¢or- Volunrccrs Molability A¢iiv¢ Travel Cirant Flei. Sinile Trow¥aaiion- Hunknr Tralforn)1 Care Giant InV* L)K - R¢4caT¥h'r6 Tr Fl M4Tsh Cotmwnity Grartt British Cy¢liiiig- (iTant Sports En8iand Pla¢¢s To Ride Heritae knttery EIBC Lhildr¢n N¢ed FneT&V Saving M¢r¢¢r5 Tr Grant Acccss R&$ear¢h fu Mgin (irants - Ea51 Coast Lomt)Nmity 3.287 3.200 3.775 500 87 225 S} 998 36.700 59.132 9.3tAI 16,(K)O 36.7 41.146 6.968 12.251 3.560 26.066 17.986 2.392 3,749 44,073 I8,7 4,696 6243 12.488 6,245 1&776 8,825 4,495 1270 85,381 4.959 15.050 16.776 8.8?5 4.495 1.270 21,3(19 30,(XX) 15.050 11.510 11.510 136.756 256.908 258 450 6.245 141,459 IINJRESTRicfED FbTriDS Cienefal fundy Revaluaiion r¢s¢rve .467,537 1.218.106 .280 792 2.748,329 927.955 (6,245) 1.751.44.3 606.747 2.3511.190 674.045 674.04.S 1.218.106 927,955 U85.085 1.475,014 I.IIA405 674,045 2.499,649 Page 34 continued...
Fotts ht North EAst Lincolnshire Ltd. Notes to the Fin*Dcial Statements - CODtioyed for the Year nded 31 Au yt 2024 The speeific purpose for whith the funds are to be xpplied are Is follows: Active Humber: This funding was allocated for weekly SFrf)rtin8 sessions within our activity centre and a local park. These actiwities included badminton and crickeL The airn of the projeci w&s to increase the levels of physical acliviry. Birmingham City Council: Stop Loan Sharks Fund through the Illegal Money Lcnding Team - In conjunction with d creaiive tuts)i and some v¢r)' enthusi&%tic film students, we produced a video appropriate for disabled adults to show them the dangers of loan shaTks and how to acLess supporL This was screened to a number of local SUPFOrt agencies gnd organisations which ¢at¢r lo disabled adults io raise awarenes Brltish Seience Association: In 2024 we recei¥¢d a grant to njn science engagement sessions with our l¢&rn¢rs in house during science eCK in March ith an additional add-on to complete a short rcxarch project in the following weeks lth)king at opinions surroundiri¥ renewable eneT8V source5 in North East LIr0]nshi[¢. Roy Soc Of Chem - Seitnce Week Grant: Outreach Fund. li'e ran a years worth of scienc¢ sessions in house to promote a science for all ethos and lo engaLie M'ith an audience which is drastically underrepresenled in lh¢ s¢i¢ntific world. Woifg&n Foundation Grant: This funding w&8 for Solar panels on Coron4tion House. Scope Pgymenls- GrAAI: Seope provided us with funding io run a project cJled Peering inio a Brighter Future which involved delivering pecr mentor training to benefici8ri¢s and setting up a peer mentoring sy.stem at For¢sighi to allow learners to suppon oiher leamers in specific areas, and to set up 8 buddy 5ys¢em to support new start¢r5. Sport Is Leading The Way Gr•nl 22nJ: Sport 15 Leading the Way is a project io run sm leadership qualift&qtion5 for leamers and voluntcers here the leariier5 ould be support¢d Ihfough the qualification b> a N'olulll¢¢r who was also und¢rtakin8 lh¢ qualification with a i'iew lo them then l¢ading on in-house sports sessions at Foresight. Atce8J Foundation Digital Classroom - Staffin% TutTrr- Learners: This funding i%'as to addrcss thL digital inequality, gap for ihe disabled community. The sessions included One-tone learning with a digital mentor, digitsl lileracy workshops and a digilai library. Stwffing Tutor- Voluntoers Thi5 funding was lo address th¢ digital inequalil) gap for ihe disabled community. The 5e55ions includ¢d one-lo-one leaming with a digita] mentor. digitsl Iiw workshops atMI a digitsl library Motsbility Active Trayel Grant: Molability. Active frayel is a three-year project lo run travel tiaining which includes cy¢ling proficiency, Ivalk safet>. and publi¢ Irdnsp)rt training where wc would also develop the volunleers to run session5 Wlth th¢ learncrs. Hey Smile Foundation- Humber Trxn5forming Care Granl: This project is for beneficiaries and volunteers lo gain a qualification in Sports Leadership, whi¢h then enable ihem io tutor some our sporting artiviti¢s. Innovxte Uk- Re5egr¢hingThe Easi Marsh Cornmunity Grant: Innovate L.K is a project run in parth¢rship w'ith E8St Marsh United to conduct sorne community research b¢d fro reeman Street Markcl= this is largel>. social bas¢d and rhe cvThcnt questions being askcd are around th¢ meaning of farnil). sperifi¢&ll> tsrgeted at pcople living on the East Marsh. Main Gr¥Dts- East Cosst Community Fynd: This project was to establish and run an outdoor aclivity centr¢ for the local dTsabled ¢omrnunit5'. It offers various outdoor activities such as cy¢lin& fJshin& walkin& mini golf, badminton etc. Page 35 coThlinLied...
Foresi ht North E2St Lincolnshire Ltd. NotvJ to the Financial Ststements - continued for the l'ear Ended JI Au st20 Sport England Encourage adult disability participation in various sports and Incre volunteer participation in become cOaCheMent0rs. Places lo Ride To purchase bikes for disability ridingk Henry Smith Charitsble FoundattOD Funds Foresighi to operate a befriending service for elderly people undertaken volunteers this covers the ¢ost of tra¢] ¢Kpenscs for volLtnleeTS. Big Lottery - stepping forward EMplo&bIlity Classes for ail "disabilities encouraging participants lo see through the barrie of disability with Motivational, Health and Wellbeing sessions ending with a work-pla¢¢ opportunity. Herilagt Lotterv Disabled adults & childr¢n & elderl) parlicip8nts Myth under re8cch & fact finding through photo classes history lessons and talksQ historians into the area of Grimsby and undertake an exhibition. al a local community center. BBC- Childrnn in Need To provide out of school provision for disabled ¢hildr¢n including >'oung family members. These activities rang¢ from leisure,sporting and arts & craft session5. People Postcode Lottery It & independ¢nce sessions for disabled participan H M Revenue & Cuiloin5 Deliver Adlice & guidance to benefits & other ¢ntiilem¢nts. A¢¢es$ Relch Fund Feasibility study with regards lo progression and development of the North Lincolnshire Centre. Mercern Trust Cover Ihe salary of Foresight hirin8 & ffftcilities Manag¢T for 3 YeDr5. The Energy Savin% D¢liv¢T 5¢5sion5 on smart meters and other energy saving options to the local community. General fundg: General funds represent funds available to spend al the discreiion of the trus*e Rtviluation Reserve: R¢vaiuation reserve represents revaluation of fixed assets and investment property. Page 36 continucd...
Foresi ht North East Lineolnshire Ltd. otes to the FinAnfial St¥tements- continued or the Year Ended 31 Au ust 2024 22. CAPITAL COMMITMENTS 2024 2023 Contracted but not provided for in the financial ststements 35.022 Capital commilment is for Spilsby & Anne Askew House Development PENSION cosrs The pension contributions payable by the ChaTity amounled lo £7.540 {2023 - £6,801). Contributions totalling £1.941 (2023 - £1,569) were due al the year end and are included in CrlIors. 24. SHARE CAPITAL The company is limited by guarant¢¢ and does noi have a share cèpital divided by shares. 25. RELATED PARTY DISCLOSURES Chief O(fi¢er received a total of £664 (2023: £545) to cover reimbursement of expenses. Finance Officer received a iotal of £9.304 {2023.. £3.679) to cover reimbursement of expenses. For¢si8ht Also contracts with BG SolicTiors LLP in one of the trusl¢e. 15 a partner. The services provided during the year amounted 10 £2,243 (2023: £4,886) One of the tntsiee, in his Capacity as a trad¢sman provided property maintenance and repairs at a Cost of £91,921 (2023: £14.177) During the year, Foresight made purchases arnounting to £98.843 (2023.. £297,840) from FoTesight Dev¢lup¢rs Limited which has comlnon directors. Chief Officer is a dircctor of Estuary Homes CIC. Foresi8ht has loaned the company £60,000 and accrues interest of 3 /0 per annum. The balance du¢ and includcd in long tenn debtors amounted to £70.092 (2023.. £64,635) with inlerest accrued on the loan amounting to £5.457 (2023: £4.783). 26. ULTIMATE CONTROLLING PARTY For the whole of the year, the charity under the control of the DI¢t0[S and Trustr¢s as shown on page 9. 27. EVENTS A ER END OF REPORTING PERIOD After the year end, the company is anticipating the sales ol two of 115 Freehold properties, one of which 15 localed at Reynard Street Spilsby for £122,500 and another at Yardy Coutt Stallingborou8h for £350,000. Page 37