REGISTERED COMPANY NUMBER: 04625150 (England and Wales) REGISTERED CHARITY NUMBER: 1097134
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
FOR
STEPPING STONES (NOTTS) LIMITED
Killicks Limited 35/37 Kingsway Kirkby in Ashfield Nottinghamshire NG17 7DR
STEPPING STONES (NOTTS) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
| Page | |||
|---|---|---|---|
| Chairman's Report | 1 | ||
| Report of the Trustees | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
STEPPING STONES (NOTTS) LIMITED
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023
Hi!
Time flies by when you are having fun and yet here we are writing another annual report!
Last year I had the onerous task of writing the report, on behalf of the trustees, following the death of my partner. This time its not so onerous!
So, what of 2023?
2023 was a relatively quiet year, the Trustees were working, hard, in the background ensuring that all things Castle Street were running as best they could. We continue to have good working relationships with East Midland Housing and Care Support and are happy to challenge them when required. Remember, we are your mouthpiece to these organisations and if you have any concerns, questions, or indeed compliments that you would like us to pass on to them, then just drop us a line and we are only too happy to pass them on!
As Trustees we are here to fully support those who reside at Castle Street.
Remember, I think it only right that I remind you, that:
Stepping Stones is a small charity, but it is big enough deliver yet small enough to care for each and everyone connected to the charity.
Yes, it is small, but it needs new members to take it onwards and upwards in the future. Failure to find new members and new Trustees, as and when required, will see the charity fold. If that happens the question will be…
...What happens to Castle Street?
That said we did elect a new Trustee in 2023!! Welcome Trevor Pinder! From a Trustees point of view a 'Sight for Sore Eyes!!'
As we enter 2024 the Trustees will continue to address this important issue as well as to continue to explore new ideas both in activities for the residents and in ways to keep the building and the charity in full working condition. One area might be that we take over the maintenance of Castle Street in return for higher rents from EMH. Just one idea that we aim to explore in 2024.
So, another year has flown by and another report done! It will soon be time to sit down and start writing the next one!
Take care, Stay Safe and thank you again, for your time, support and understanding!
Best wishes
Les
Interim Chair
Page 1
STEPPING STONES (NOTTS) LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees, who are also Directors for the purposes of the Companies Act, submit their annual report and the unaudited financial statements of the charity for the year ended 31st October 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting Charities" issued in 2005 in preparing the annual report and financial statements of the charity.
The charity is a charitable company limited by guarantee and was set up 24th December 2002. It is governed by a memorandum and articles of association.
ACHIEVEMENT AND PERFORMANCE
Partnership Working
The Trustees recognise the following organisations for their advice and support during the year: - Enable - Choice Support - Housing and Support Alliance - Notts County Council - Killicks Accountants
Future Ambitions
The Charity has agreed to try and support other organisations allied to our area of care provision for people with learning difficulties in the Nottinghamshire area. To this end the Charity has appointed two of the Trustees to be responsible for identifying these and liaising with them to potentially provide any support.
Results for the Year
The Rental Income has continued throughout this year and is still the main source of income to the Charity.
As Trustees we recommend the adoption of the Accounts and the continuing appointment of Killicks Limited for the current year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was constituted under the memorandum and articles of association dated 24th December 2002.
Organisational structure
The trustees of the charity are legally responsible for the overall management of the charity. All decisions made are ratified at properly constituted meetings of a committee of trustees. In the case of a dispute at a committee meeting, the decision will be made by a majority vote.
Risk management
The trustees of the charity are responsible for the management of risks faced by the charity. Senior members of the management have conducted a review of risks that the charity may be exposed to. Where appropriate, procedures have been put into place to mitigate the risks.
REFERENCE AND ADMINISTRATIVE DETAILS
The charity was founded in 2002 and is registered with the Charity Commission under charity number 1097134 Details of the chanty's trustees and advisors are given on page 1
Approved by order of the board of trustees on 16 May 2024 and signed on its behalf by:
L S Dubourg - Trustee
Page 2
STEPPING STONES (NOTTS) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 63 | 53 | |
| Investment income | 2 | 34,965 | 34,871 |
| Total | 35,028 | 34,924 | |
| EXPENDITURE ON | |||
| Other | 16,946 | 7,292 | |
| NET INCOME | 18,082 | 27,632 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,474,032 | 1,446,400 | |
| TOTAL FUNDS CARRIED FORWARD | 1,492,114 | 1,474,032 | |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 3
STEPPING STONES (NOTTS) LIMITED
BALANCE SHEET 31 OCTOBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 6 | 1,215,822 | 1,215,658 |
| CURRENT ASSETS | |||
| Debtors | 7 | 8,864 | 17,508 |
| Cash at bank | 267,428 | 240,866 | |
| 276,292 | 258,374 | ||
| NET CURRENT ASSETS | 276,292 | 258,374 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 1,492,114 | 1,474,032 | |
| NET ASSETS | 1,492,114 | 1,474,032 | |
| FUNDS | 8 | ||
| Unrestricted funds | 1,492,114 | 1,474,032 | |
| TOTAL FUNDS | 1,492,114 | 1,474,032 | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2024 and were signed on its behalf by:
L S Dubourg - Trustee
The notes form part of these financial statements
Page 4
STEPPING STONES (NOTTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. ACCOUNTING POLICIES
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 15% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Rents received NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2023 £ 34,965 2023 £ 644 |
2022 £ 34,871 2022 £ 615 |
|---|---|---|
3. NET INCOME/(EXPENDITURE)
continued...
Page 5
STEPPING STONES (NOTTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
5.
| Trustees' expenses | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Trustees' expenses | 1,027 | 1,322 |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|
| Donations and legacies | 53 | |
| Investment income | 34,871 | |
| Total | 34,924 | |
| EXPENDITURE ON | ||
| Other | 7,292 | |
| NET INCOME | 27,632 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 1,446,400 | |
| TOTAL FUNDS CARRIED FORWARD | 1,474,032 | |
continued...
Page 6
STEPPING STONES (NOTTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
6. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 November 2022 1,212,171 Additions - At 31 October 2023 1,212,171 DEPRECIATION At 1 November 2022 - Charge for year - At 31 October 2023 - NET BOOK VALUE At 31 October 2023 1,212,171 At 31 October 2022 1,212,171 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 8. MOVEMENT IN FUNDS At 1.11.22 £ Unrestricted funds General fund 1,474,032 TOTAL FUNDS 1,474,032 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 35,028 TOTAL FUNDS 35,028 |
Fixtures and fittings £ 73,479 808 74,287 69,992 644 70,636 3,651 3,487 2023 £ 8,774 90 8,864 Net movement in funds £ 18,082 18,082 Resources expended £ (16,946) (16,946) |
Totals £ 1,285,650 808 1,286,458 69,992 644 70,636 1,215,822 1,215,658 2022 £ 17,418 90 17,508 At 31.10.23 £ 1,492,114 1,492,114 Movement in funds £ 18,082 18,082 |
|---|---|---|
continued...
Page 7
STEPPING STONES (NOTTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net At movement 1.11.21 in funds £ £ Unrestricted funds General fund 1,446,400 27,632 TOTAL FUNDS 1,446,400 27,632 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 34,924 (7,292) TOTAL FUNDS 34,924 (7,292) A current year 12 months and prior year 12 months combined position is as follows: Net At movement 1.11.21 in funds £ £ Unrestricted funds General fund 1,446,400 45,714 TOTAL FUNDS 1,446,400 45,714 |
At 31.10.22 £ 1,474,032 1,474,032 Movement in funds £ 27,632 27,632 At 31.10.23 £ 1,492,114 1,492,114 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 69,952 (24,238) |
45,714 |
| TOTAL FUNDS | 69,952 (24,238) |
45,714 |
continued...
Page 8
STEPPING STONES (NOTTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2023.
Page 9
STEPPING STONES (NOTTS) LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 63 | 53 |
| Investment income | ||
| Rents received | 34,965 | 34,871 |
| Total incoming resources | 35,028 | 34,924 |
| EXPENDITURE | ||
| Support costs | ||
| Governance costs | ||
| Trustees' expenses | 1,027 | 1,322 |
| Insurance | 2,714 | 2,423 |
| Sundries | 1,713 | 1,942 |
| Accountancy and legal fees | 1,080 | 990 |
| Repairs | 9,768 | - |
| Fixtures and fittings | 644 | 615 |
| 16,946 | 7,292 | |
| Total resources expended | 16,946 | 7,292 |
| Net income | 18,082 | 27,632 |
This page does not form part of the statutory financial statements
Page 10