REGISTERED COiVIPA.%Y ￿lImBER. 04278151 (England and Wales) REGISTKRED CHARITY f*UMBER: 1095120 Re ort of the Trnstees FlnADcknl Stilemellts for the Yegr Ended 31 Au ust 2024 Foresi ht iyorth E*sl 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 pury￿SeS 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. 0￿EC[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 p￿t 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& f￿d prePa￿tiOn Sporting activities e.g., Bowling. Badminton, Basketball, BO￿1¢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 obJ￿Ilve5 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 b￿Sted 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 ramiiie is CLirrei)IlN, fui)dLd by Cliildrei? in Need. Commiinity Choir: Foresigyhi ha5 torined a community choir and i¥e are ¥Trnlelul (o Music 4 All who provided funding for Ilie Llioir ro iierft)riii in Residential and Care Hoines across North Fa51 1.iiiwlnshire. ITI addition. tlie charifv l)a% lin%ied ioiniiiiinilv conLert5 fdisingi fiinds for the maytlr s eharily. Befi'ien(ling: l.'Lif¢sibihi k)flers 4 b¢.fi'ieiiding) seThice for people ￿h0 bccoine isolated beLaus1' of ill l)eal(Ii. disabili1¥ or s()Li people iNIIei'ience, coiifid¢nLe aFbd skills though volunieei'ii)g. We al'e i)artiitsliirly iirnleful io NciliftiiwiilL ¥uiiiiiiuiiily Grant who has fijnded a5pecls ol. volunieer dewelopm¢nt duriiiu ihe )'e, 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 aCtI￿e 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. SciiJ*lio 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'oL*ramme 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￿)S￿Ort 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' f￿￿151b111tY 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 BU￿d 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 d￿nagIng events. Lsing the operatin¥ cosls of the curreiit Lar rh¢ l¢ir¥¢i free resipulation 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 Re￿rt 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¢S￿nsibl]Ity to anyone oihcr than the charitsble company and the charitsbl¢ company's members as a body. for our audit work, for this re￿r¢ 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 Fin*neig1 Activiti for ihe I'tar Ended 31 .4 ust 2024 Ilnrestrict¢d Rev•1￿1$0￿ Fu Reserve Re5tiicttd Noles 2024 2&23 JntotE Grants and tk)natiorL4 180.059 284.397 464.456 525.IK>5 Incon* frtsm charitable activiues 585.632 5R5.632 524.027 lllc1)n￿ frTrm Ot￿r trading actii'ities 38.420 38.420 6.3.564 Iniesbnertt it￿￿ 101.235 101235 90.896 Ottrr iTKon 41399 42,399 271.522 Tntal ineome 947.74$ 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 forW￿d 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 co￿Pu￿7Cs 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 fi￿￿s. 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 pr￿ared 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'n￿eeS 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 0￿rAtIng aetivrfies 378,901 187,227 191,673 643,997 151.135) 492,86? Cash tlows from Investi￿ activities Purchase of tangtble fixed assets InVestn￿nI 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) $2,257) 152.257 Retained e4rning Adjustmen¢ 10,977 Increase in cash & c05h equivalents in the year 118,433 8.134 Cash & cush equivalents at beginning of the year 615.716 607,-582 Total cash & cash equivalents At the eNI of the year 497283 615,716 Page l9 Fores ht Iyorth E#st Lincolnshire Ltd. ]Yolcs ¢0 the Sialemenl of Cash Flows for the Year Ettded 31 Au st 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 N'ei MO￿lment in Funds Add back depreciation Ded￿,1 Interest received Inlercsi paid Decrease / (increase) in debitsrs Increase l {decr¢asc} in creditors Net tash gellernted froml thsed in0￿rat￿8 a¢tlvhks 121,600 150.248 {28.0131 l87,227 7.861 60.023 378.901 288.609 177,781 {20,28 151.136 {37,658} 84,411 643,998 ANALYSIS OF CHANGES IP4 NET DEBT Anatysls of c1th￿t ID n¢¢ debt At 01 Septernixr 2023 At 31 A￿ust 2024 C&shflow Net C#5h Lash at bank and in hand 615.716 61S716 (118,4331 (11&433) 497,283 497.283 Debt$ 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 r￿CIVed, 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 pu￿h￿ of fixed asset5 are credited to restrict￿ incoming resources on the earli¢r date of when they aTe received or Tecetvable. Depreci*ion on th¢ fflated fixed assets is charged against th¢ re5tricled fund. (fj Income from Charitable activities includes income recognised as earned {a5 ihe rela*d 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- co￿tInUed 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. E￿h Y￿r. 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 exPl￿atIOn of the natu￿ and pUT￿se 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 b￿ed 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 Qu￿ent and future periods which are addre$5¢d as below.. Useful economic lives of thngible assets- Depreciation of tangible fixed assets has been based on estimated useful lives and residLtal values deemed apprOpri￿e by the tru5tee5. Estimated useful lives and residual lives are reviewed annually and revised as appropriate. Revisions take in to account actual assel lives and residual values as evidence by disposals during ¢urrent and prior accounting periods. Page 23 continued... Foresi ht Yorth Easi Lincolnshire Ltd. Notes to Ihe Financial Statemen¢$ - contillutd (or the Year Ended 31 Au ust 2024 DONATIONS AND LEGACIES Unr¢$iritied Reslricted 2024 21￿3 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, I￿1￿led in the above. are &8 follom's: IINrestricted Restricted 21124 2023 Aciive Humb¢r Arts CourKil Grant B¢r￿rd 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¥ Fu￿1 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 Charr￿￿10￿ ProgranTh R(iy Soc Of Chem- Science Week (irant Scope Pa)Ttrnts - Cjranl Sntsrt¢r Encr￿ L¢d Li￿lIng Grant Sport Is Leading Tk Way Grant 22123 sta￿l￿g I"utor- L£arners S(alTin¥'l'uÉDr- vull￿teerS TF.C Parth¢rship 'I'he Rotsd Saf¢ty'l r￿1 Woltson FouThdation Grart YDiiih Fimd YPS (SUMn￿r 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 47￿148 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 A￿1VITIEs 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 unre5Iric￿d 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$t￿ttd Re5tri(ted 2024 2023 Business support InSUra￿e claim Stmdry i￿Ome 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 Donatio￿5 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'll￿e Inierest payuble on lua FLU￿raisIng 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 ACCO￿lancY 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 n￿**r ol"¢nyl0￿S dwirgtk )f ar We￿ as follows: 2024 24 202J 26 Averdgy 2024 16 2023 15 Dircci clwitsbl¢ work Administtaiive work lutl equivdient n￿r 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 n￿nber this 1.4 equivalent ￿ twelve lithl linr strft'posillOIL8. Th¢ nlthr of ¢ry[oycc￿ wlK)s¢ totsl enplojee bertlits exclulirg perGion Contrib￿l()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 person￿1 uf ckwiry conyris¢ Clycf Execuiive Offieer Fitwwe Director. The toral reM￿ry￿10￿ ofkew tMrogeThYnt ￿r$On￿l dwing ￿ year was £107,247 (2023.. £102,685), 13. TANGIBLE FIXED ASSETS Freehold property Le*selKbld P14nt and pn)perty m*chlnery Trlxtures. fltting5 And equipment TutMI CoJt or Valu4tlon: As al I SL'ptcmbLr 2023 AddiliotLS Dispos81s A5 at 31 Au￿st 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 A￿￿12024 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 V￿uali0n 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 E￿t LFlleolnshire Ltd. Notes 14) the Financial Stgtements- cO￿tinUed 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 eXpe￿8¢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 a￿1 tive years: Bank LA)an% 2.5 y¢aTS Other Joar￿ 2-5 years 240.147 204.682 88,fi57 293.339 All￿)￿￿5 fallingd￿e in nM)re five years: R¢payable by instalments with 3 /0 rate of inteKsl Bank loaL4 n￿re 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 Reval￿tIOn Tol*l funds al 31 Rc$erve5 August 2024 'rangiblc Fixcd Assets 1nvcstrr￿Rt 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 A￿Ust 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 A￿￿￿t 21124 2023 Int0Tr5 ExpeJ*li¢wYs Trntsfer RES'fRicfED FVIYDS Activ¢ Humb¥r Elirningham Litj. CO￿7] Brilish Soler￿e Associaiii) Wolfson FO￿d￿tion Grutx S¢op¢ P8sThrKS- Grant %pori Is Ixading Tr Way Grani 22r23 Si*fting Tutor . L£anKr8 Stafting I'uior . Voltmtctr5 Mo)thb)lity' Active Travel tir*tt He)'.Smile Foundation- Hthiknr Trartsforrnin8 Carc Cjrani InN)v¥ie Uk- Res¢&rLhin8Tr Marsh cort￿￿)￿ty Grant Mercers Tr￿lee Grant Garfield W¢sion FoLywJ81ion.OARS.W'¢stL Charity Award Gra Naiional HeuÉae Ilistory of Foresi Grattt MAin Grtsi]ts- Er*r&' Saving InveSth￿llt 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 Ge￿ra1 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$) BalaM¢¢ 01 TrnNsf¢r 2023 RESTRICTED FL',YDS Actii'¢ I Iwnb¢r Elirtningham CiLy COW￿1[ Elriiish S¢ierte Associaiiort Roy Soc Of Chem- Science Week GTant FoundaÈion Grant Slope Pa￿%￿llts . Gta Sporl Is Lcading'l'he Way 21123 SLLifin8 Tutor- Lellrrtrs Stalling Tu¢or- Volunrccrs Molability A¢iiv¢ Travel Cirant Flei. Sinile Trow¥aaiion- Hunknr Tra￿lforn)1￿ Care Giant In￿V￿* L)K - R¢4caT¥h'r6 Tr F￿l M4Tsh Cotmwnity Grartt British Cy¢liiiig- (iTant Sports En8iand Pla¢¢s To Ride Herita￿e knttery EIBC Lhildr¢n N¢ed FneT&V Saving M¢r¢¢r5 Tr￿￿ Grant Acccss R&$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 LIr￿0]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-to￿ne 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 cOaChe￿Ment0rs. 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 re8c￿ch & 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 Cr￿lIors. 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