Company Number: 4666277 Charity Number: 1097655
## New Mills and District Volunteer Centre
Report and financial statements For the year ended 31 March 2026
New Mills and District Volunteer Centre
## Reference and administrative information
## for the year ended 31 March 2026
**Company number** 4666277
**Charity number** 1097655
**Registered office and operational address** 33-35 Union Road, New Mills, High Peak, SK22 3EL
**Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Tony Ashton Chair Liz Treacy Vice Chair Hazel Body Treasurer Martin Airey Gill Christian Anne Clarke Rodney Gilmore Doris Higginbotham David King – resigned 24[th] November 2025 Ian Robertson Dorothy Scapens Sue Stringer
|**Management**|Mark Allen
Centre Manager|
|---|---|
|**personnel**|Hannah Kitson
Community Transport Coordinator|
||Lorna Young
Marketing and Groups Coordinator|
||Fiona Stanier
Befriending Coordinator|
||Julie Slack
Office Administrator|
||Jeanette Howard
Caretaker/Cleaner|
|**Bankers**|The Co-operative Bank, Delph House, Skelmersdale, WN8 6WT|
||Cambridge & Counties Bank, Charnwood Court, Leicestershire, LE1 6TE|
||The Vernon Building Society, 19 St. Peters Gate, Stockport, Cheshire, SK1 1HF|
||United Trust Bank, Ropemaker Street, London, EC2Y|
|**Independent**|Jennifer Daniel FCCA DchA Slade & Cooper Limited|
|**examiner**|Beehive Mill, Jersey St, Ancoats, Manchester, M4 6JG|
1
## New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
The trustees present their report and the unaudited financial statements for the year ended 31 March 2026. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The objective of the Volunteer Centre is to promote charitable purposes for the benefit of the residents of New Mills and district by associating together volunteers in a common effort to relieve poverty, sickness, and distress through:
1. Promoting volunteering
2. The provision of a volunteer centre
3. Giving advice and support to volunteers
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. The trustees are responsible for maintaining the Volunteer Centre and employing a team of staff which is sufficient to deliver the services to our volunteers and clients. During the past year, we have ensured a high-quality service for volunteers, clients and socially isolated people in New Mills and district. The Volunteer Centre has offered advice and support to volunteers, and we continue to use our resources carefully to ensure that we can continue to provide a focal point within our community as well as adapting our activities to meet the ever-changing needs of our clients.
2
## New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Chair’s Report**
Within this report are details of the number of people benefiting from the services provided by our volunteers and staff, all of whom I would like to thank and have contributed to another successful year. However, whilst the quantity is informative (and many will find it surprising), the numbers do not reflect how meaningful our services are to clients who use them. To give an idea, below are examples of the many comments we have received:
This one is from the lady whose mum uses transport and lives 2.5 hours away:
_I am writing to express my sincere gratitude for the incredible support you have provided to my mum over the past few years. Your volunteers have been consistently kind, reliable, and supportive, and the difference you have made to both my mum’s wellbeing and my own peace of mind cannot be overstated. It is truly reassuring to know she is in such caring and capable hands._
Below is a quote about our befriending service:
_She looks forward to the weekly visits immensely. Without befriending, she would have limited connection with the world outside. She is now able to have company, to share experiences and has developed a positive and trusting relationship. I am so grateful to the befriending service, who work hard to provide connections to people who would otherwise be lonely. It is an invaluable service, and they go above and beyond. Thank you as always for all you do._
From the Musical Memories Session which supports people with dementia and their carers:
_“My dad loves it, he asks me when the next one is every single time I see him. It gets better and better, it’s just amazing and the musicians are such lovely people._
In terms of pound spent per client we have always been and will continue to be more effective than almost any similar organisation but as Mark has alluded in his report, going forward money is a concern. Over the years Trustees have built up good reserves but last year we had a deficit of over £20,000 and this year we are forecasting a deficit in excess of £30,000 meaning a reduction in reserves of over £50,000 in just two years, which is not sustainable in the long term.
It is worth remembering that we are a Charity, and the vital services we provide to support our community are only possible thanks to external funding and the generosity of local people. We kindly ask you to consider supporting our work with a donation, no matter how small. There are several simple ways to contribute, including via PayPal, by playing the High Peak Community Lottery, through Easyfundraising when you shop online, or by choosing to leave a lasting legacy through a gift in your will. Your support truly makes a difference and helps us continue to be there for those who need us most.
## **Tony Ashton**
3
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Achievements and performance**
## **Volunteering**
Volunteers are at the heart of our charity, and they power all of the activities, sessions, and services we provide. We have 377 registered volunteers and this year our volunteers have provided 10,649 hours’ support to the community. This commitment is the equivalent of £103,024 worth of wages at minimum wage.
## **Transport to medical appointments**
Volunteers have driven 23,320 miles supporting 223 different clients to make 1737 journeys to a range of medical appointments across the region including hospitals in Macclesfield, Manchester, Chesterfield, and Sheffield. The service has potentially saved the NHS £101,280 in missed appointments.
## **Befriending**
We have completed the first full year of our National Lottery funded befriending partnership & 36 volunteers have given 3,790 hours of their time supporting 49 members of our community who have been suffering loneliness and isolation.
## **Shopping Trips**
This year we have supported 40 members of our community to regularly attend a local supermarket so they can access a wider range of items and services. In total we have had 660 attendances on our shopping bus.
## **Groups**
Our groups have been extremely busy once again this year. We have added to our programme a Musical memories Club, specifically for people living with dementia and their carers or family. The session looks to unlock memories through music and activity delivered by musicians from the Halle Orchestra. We have also seen huge uptake in attendances, over 20% of last year for our Acoustic Soup, Chair Based Exercise and Knit & Natter sessions. In total we had 3,912 attendances at our groups.
## **Signposting**
During the year we dealt with 5,658 enquiries from the local community with a wide range of requests and help required. As some of the issues that arose couldn’t be dealt with by the Volunteer Centre, we were able to signpost people 381 times to other local services, voluntary organisations or groups who were in a better position to provide the help or support needed.
## **Client Christmas Meal.**
We once again drew the calendar year to an end with our now annual Client Christmas meal at St. Georges parish hall. We provided 69 Christmas dinners to our clients, all of them prepared by our wonderful team of volunteers. And each person attending was able to go home with a Christmas present which was kindly provided by the Hummingbird Project in Glossop.
4
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Financial review**
This financial year the Charity had a deficit of £35,801 (2024/2025 surplus of £27,952).
The value of the COIF Charities Investment Fund Units decreased by £7,934 making the units held worth £85,125. These fund units cannot be sold, they are held in Trust for the District Nurses Fund, only the dividends paid each year can be used for the benefit and wellbeing of the users of the charity according to strict criteria, this year the dividends from these units was £2,734. The balance available at the year-end is £5,930.
This year we have received funding from Derbyshire County Council of £9,100 for Active Travel. From NHS Derby and Derbyshire Group Integrated Care System we received £22,474 and £2,456 for signposting. This year High Peak Borough Council gave us £5,000, we also received £5,000 from the Masonic Charitable Foundation, £1,960 from Derbyshire Dales Voluntary Service, and £6,011 from Mind to improve our allotment. From The Big Lottery we received £33,936 towards befriending and £12,694 towards core costs, this was our share of a three-year funding grant awarded jointly to us, The Bureau (Glossop) and Connex (Buxton).
The Social and Fundraising and Regular Funding Committees continued to be well supported by the volunteers, local businesses and the general public and have raised £9,993. There have been many different events, these include our Plant sale which was able to go ahead this year and raised £1,447, Coffee Mornings £1295, our annual Garden Sale raised £1,280 Handicraft sales £1,161, Bongo Bingo £1,042, Quiz Nights £797, Autumn Raffle £764 and the refreshment stall at the Hayfield apple day which raised £617, and numerous smaller events including the Christmas Concert, One World Festival and car boots sales.
From the Community Lottery we received £1,688.
The Josh Webb Memorial Golf Day raised £860, organised by Simon Webb in memory of his son, who kindly donated the money to the Centre to help Finance our befriending services.
We received donations of £6,500 from Kelsa Trucks, £1,615 from the Co-op for our chair-based exercise, £1,000 from Swizzles Matlow, together with other generous donations, the total received was £16,409.
The total income for 2025/2026 was £174,307 (2024/2025 £224,357). The total expenditure for 2025/2026 was £202,174 (2024/2025 £191,857). Therefore, this year we have a deficit of £35,801 (2024/2025 surplus of £27,952).
Our main funders were The Big Lottery, Derbyshire County Council (Active transport), NHS Derby and Derbyshire Integrated Care System, High Peak Borough Council, Masonic Charitable Foundation, Mind and Derbyshire Dales Voluntary Services.
5
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Reserves policy**
The Trustees have, as required of them considered the risks faced and the steps needed to mitigate them. The level of reserves is kept under review, and the Trustees have decided to keep the designated fund to cover the future purchase of a new Minibus of £15,000.
The Trustees also like to have £12,576 to cover the remaining lease, £5,930 the dividends that have been earned on the District Nurses Fund (this is ring fenced) and is to be used for the health and wellbeing of anyone in New Mills, a request needs to be presented to the Board for approval. £359 held for High Peak Kids Council and £834 held for the Repair Cafe. This leaves money held in unrestricted income of £195,850.
## **Plans for the future**
The future is both exciting and worrying. Exciting because after many years of effort by the Trustees and staff members, both past and present, New Mills Town Council has finally agreed to transfer the freehold of the building on Union Road, New Mills which we currently occupy to us. We would like to thank the current Town Council for this decision. This is exciting because it will provide us with future security, the confidence to make future improvements and if necessary to borrow against the building to fund any major improvements deemed necessary. I would also like to thank all the Trustees and staff, both past and present who have worked hard to achieve this outcome.
The future is worrying due to the uncertainty of future funding. Owing to the strong position we finished 2024/2025 in, and despite the deficit of £35,801 this year, our reserves at the start of the 2026/2027 are good. As anticipated, we are having to use these reserves to meet day to day expenses, we are expecting further grant income in the coming months, so there is no danger of us not meeting our commitments and our services will continue as they are for the present. We are currently awaiting the decisions of some of our current funders on future funding and applying for grants to allow us to maintain services. I am optimistic that the outcomes of these will be positive. Without new funding streams we are forecast to show a deficit of a similar magnitude to the year just ending.
Our Kinder Social Group and Acoustic Soup Group have activities, talks and music arranged for the coming months, the Health walks have already begun and are set to continue throughout the summer, our other groups including the newly formed Musical Memories Club continue to be popular.
Our Social and Fundraising Committee continue to be very active with a range of events which as well as raising much needed funds, help to bring the Volunteer Centre to the attention of the wider community. The next event planned is a Coffee morning to be held on the 18[th] of July. The quizzes have proved so popular that this year we are holding three quizzes instead of the usual 2, with the next one planned for the 3rd of October. We will also be providing the refreshments at the Hayfield Apple Day this year. We hope to see as many of you as possible supporting us at these events
6
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Structure, governance and management**
The organisation is a charitable company limited by guarantee, incorporated on 13[th] February 2003 and registered as a charity on 22[nd] May 2003.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.
The Trustees have a policy on Trustee recruitment and new Trustees are encouraged to receive relevant training. This year the Trustee main body has continued with the use of subgroups i.e. Fundraising, publicity and marketing.
The Trustee Board meetings are held regularly in person at the Centre.
Under the requirements of the Memorandum and Artiles of Association, the Trustees retire in rotation over a three-year period after which they must be re-elected at the next Annual General Meeting. The Chair, Vice Chair and Treasurer are all re-elected each year.
## **Related parties and relationships with other organisations**
We will continue to support and provide a voice for the voluntary sector by working with our funding partner NHS Derby and Derbyshire ICB. We will work with the New Mills Move More Strategy group at the best way forwards in enabling the people of New Mills to move more and become more active, and the role that we can play at the Volunteer Centre. We will continue to attend and contribute to a range of partner meetings and alliances to ensure we are at the table and have a voice in the shaping of the VCSE moving forwards.
## **Remuneration policy for key management personnel**
No employees have total benefits over £60,000.
## **Risk management**
The Trustees have identified key risks associated with running the Volunteer Centre and have created a Risk Register which is reviewed regularly with remedial action being taken as appropriate. Written procedures have been prepared for the Charity’s policies covering employees, volunteers, clients, visitors and financial systems and procedures.
7
## New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Year End Manager Report 2025/26**
This last year has been a challenging and rewarding one at the same time. As you will see in this year’s impact report we have had a fantastic number of people using our services throughout the year, as well as volunteering and supporting our community. Our staff have done a great job of adapting to the needs of the community, putting on additional sessions, ensuring all our services can cope with the demand and providing support for both users and volunteers.
Last year we lost funding from Derbyshire County Council which has resulted in us needing to use reserve funds to get through the year. We are in a fortunate position after many years of careful sound financial management by the staff and trustees we are able to do this. However, like a broken record we start the year with uncertainty around funding for the coming year. Funding we receive from Derbyshire County Council that supports our transport to medical appointments service is now being managed by the new East Midlands Combined Authority and have only confirmed funding until September. Likewise, Derby and Derbyshire ICB have only confirmed funding until September and are currently reviewing the future direction of how they fund voluntary organisations. There is a potential combined loss of around £30,000 a year which we are currently putting together financial plans and bid writing to negate these potential shortfalls.
This year we have seen more people with complex health needs particularly people with varying stages dementia looking for support from the volunteer centre. Whilst there is a recognised increase in the number of dementia cases nationwide, we can’t help but think that the closure of many of the local services and day centres over the last 18 months is contributing to what we are experiencing at the Centre as people look for alternative provision. As an organisation we try to help as much as we can as is demonstrated through the New Springbank Musical Memories Club we have started in partnership with Spring Bank Arts, however staff and volunteer are limited in what we can do with the more complex cases and are often only able to help with signposting to other suitable care providers.
On to more positive news, we were lucky to have received a grant from Derbyshire Mind last year to support the wellbeing of people through outdoor activity and what better way to do this than through our very own allotment. The funding will enable us to refurbish the allotment growing beds, put down a new patio seating area and replace the dilapidated shed.
One of the major events of the last year involves our building, where in February the Town Councillors agreed to give us the freehold of the building at the end of our current lease agreement with them. This decision from the councillors will give us an asset which will provide us with security moving forwards and will enable us to better plan for the future.
Finally, I want to give a massive thank you to our volunteers, whether you are giving up your time driving, making meals, befriending, gardening, helping at groups, supporting us in the office or fundraising for us. Without your support we wouldn’t be able to make the impact on the community and the people within the community who need our support.
8
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Funds held as custodian trustee on behalf of others**
We hold investments for the District Nurses Fund, these were given to us on the understanding that we could not sell them, but that the dividends generated could be used for the health and wellbeing of the people of New Mills and district. These are shown every year on our balance sheet and the amount of dividends still to be used is stated in our reserves.
The Volunteer Centre holds monies in trust for the High Peak Kids Council, this is monies raised by the primary schools of New Mills, this money is to be used by the schools for the benefit of themselves. The money is included in our restricted funds, and the amount is reported on every year. We also hold monies in our restricted funds for the Repair Cafe who open on the last Saturday every month and this is to cover any expenses they incur.
9
New Mills and District Volunteer Centre
## Trustees’ annual report
## for the year ended 31 March 2026
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of New Mills and District Volunteer Centre for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
The trustees’ annual report has been approved by the trustees on 29[th] June 2026 and signed on their behalf by
Tony Ashton
Chair
10
## Independent examiner’s report
## to the members of
## New Mills and District Volunteer Centre
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2026 which are set out on pages 12 to 33.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jennifer Daniel FCCA DChA Slade & Cooper Limited Beehive Mill, Jersey Street Manchester, M4 6JG
Date ___/___/202630 06
11
## New Mills and District Volunteer Centre
## Statement of Financial Activities
## (including Income and Expenditure account) for the year ended 31 March 2026
|Unrestricted
funds
Note
£
**Income from:**
Donations and legacies
3
29,341
Charitable activities
4
45,168
5
31,981
Investments
6
8,978
**Total income**
**115,468**
**Expenditure on:**
Raising funds
7
2,394
Charitable activities
8
132,111
**Total expenditure**
**134,505**
(19,037)
-
10
**(19,037)**
Transfer between funds
2,896
**Net movement in funds for the year**
**(16,141)**
**Reconciliation of funds**
Total funds brought forward
242,026
**Total funds carried forward**
**225,885**
**Net income/(expenditure) before net**
**gains/(losses) on investments**
Unrealised gains/(losses) on investments
**Net income/(expenditure) for the year**
Other trading activities|Restricted
funds
£
1,615
54,490
-
2,734
**58,839**
-
67,669
**67,669**
(8,830)
(7,934)
**(16,764)**
(2,896)
**(19,660)**
166,064
**146,404**|Total funds
2026
£
30,956
99,658
31,981
11,712
**174,307**
2,394
199,780
**202,174**
(27,867)
(7,934)
**(35,801)**
-
**(35,801)**
408,090
**372,289**|_Total funds_
_2025_
_£_
_44,377_
_138,545_
_30,061_
_11,374_|
|---|---|---|---|
||||**_224,357_**|
||||_1,791_
_190,066_|
||||**_191,857_**|
||||_32,500_
_(4,548)_|
||||**_27,952_**
_-_|
||||**_27,952_**
_380,138_|
||||**_408,090_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
12
## New Mills and District Volunteer Centre Company number 41666277
## Balance sheet as at 31 March 2026
|Note
£
£
**Fixed assets**
Tangible assets
15
28,162
Investments
16
85,125
**Total fixed assets**
**113,287**
**Current assets**
Debtors
17
1,206
Cash at bank and in hand
18
267,210
**Total current assets**
**268,416**
**Liabilities**
Creditors: amounts falling
due in less than one year
19
(9,414)
**Net current assets**
**259,002**
**Net assets**
**372,289**
**The funds of the charity:**
Restricted income funds
20
146,404
Unrestricted income funds
21
225,885
**Total charity funds**
**372,289**
2026|_£_
_£_
_37,544_
_93,059_
**_130,603_**
_1,245_
_285,898_
**_287,143_**
_(9,656)_
**_277,487_**
**_408,090_**
_166,064_
_242,026_
**_408,090_**
_2025_|_£_
_£_
_37,544_
_93,059_
**_130,603_**
_1,245_
_285,898_
**_287,143_**
_(9,656)_
**_277,487_**
**_408,090_**
_166,064_
_242,026_
**_408,090_**
_2025_|
|---|---|---|
|||**_130,603_**
**_277,487_**|
|||**_408,090_**|
|||_166,064_
_242,026_|
|||**_408,090_**|
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 SORP, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 15 to 33 form part of these accounts.
Approved by the trustees on __/__/2026 and signed on their behalf by:
Tony Ashton (Trustee)
Hazel Body (Trustee)
13
## New Mills and District Volunteer Centre
## Statement of Cash Flows
## for the year ending 31 March 2026
|Note
2026
£
**Cash provided by/(used in) operating activities**
24
**(30,400)**
_Cash flows from investing activities:_
Dividends, interest, and rents from investments
11,712
**Cash provided by/(used in) investing activities**
**11,712**
(18,688)
Cash and cash equivalents at the beginning of the year
285,898
**Cash and cash equivalents at the end of the year**
**267,210**
Increase/(decrease) in cash and cash
equivalents in the year|_2025_
_£_
**_29,129_**|
|---|---|
||_11,374_|
||**_11,374_**|
||_40,503_
_245,395_|
||**_285,898_**|
14
New Mills and District Volunteer Centre
**1 Accounting policies**
Notes to the accounts for the year ended 31 March 2026
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
New Mills and District Volunteer Centre meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The trustees have made no key judgments which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
15
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **d Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
## **e Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
16
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **f Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## **i Tangible fixed assets**
Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
|Leasehold building improvements|25 years|(period of lease)|
|---|---|---|
|Office fixtures and equipment|5 years||
|Computer equipment|1 year||
|Minibus|5 years||
17
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **j Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
## **k Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **l Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **n Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **o Pensions**
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. Outstanding contributions at the year end was £604 (2025: £692).
18
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **2 Legal status of the charity**
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
## **3 Income from donations and legacies**
|**Current reporting period**
Donations
Fund raising income
Gift Aid
**Total**
**_Previous reporting period_**
_Donations_
_Fund raising income_
_Gift Aid_
**_Total_**|Unrestricted
£
15,267
14,074
-
29,341
_Unrestricted_
_£_
_28,738_
_15,528_
_-_
_44,266_|Restricted
£
1,615
-
-
1,615
_Restricted_
_£_
_111_
_-_
_-_
_111_|Total 2026
£
16,882
14,074
-|
|---|---|---|---|
||||30,956|
||||_Total 2025_
_£_
_28,849_
_15,528_
_-_|
||||_44,377_|
19
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **4 Income from charitable activities**
|**Current reporting period**
NHS Derby & Derbyshire ICS
Derbyshire County Council
High Peak Borough Council
Derbyshire Mind Ltd
Masonic Charitable Foundation
Swizzels
**Total**
**_Previous reporting period_**
_NHS Derby & Derbyshire ICS_
_Derbyshire County Council_
_Derbyshire County Council_
_Derbyshire County Council_
_High Peak Borough Council_
_Derbyshire Dales Voluntary Services_
_Royal Countryside Fund_
_Masonic Charitable Foundation_
_Swizzels_
**_Total_**
Big Lottery Fund (joint bid with
Connex and The Bureau)
Derbyshire Dales Voluntary
Services
_D-Oyly Carte_
_Derbyshire Mind Ltd_
_Inman Charity_
_Big Lottery Fund_
_Community Fund_
_Grant_
_Derbyshire Community Fund_
_Public Health High Peak_|Unrestricted
£
22,474
-
5,000
-
-
5,000
12,694
-
45,168
_Unrestricted_
_£_
_21,693_
_21,763_
_-_
_-_
_5,000_
_-_
_-_
_750_
_5,000_
_-_
_-_
_6,648_
_-_
_-_
_-_
_-_
_60,854_|Restricted
£
2,456
9,100
-
1,960
6,011
-
33,963
1,000
54,490
_Restricted_
_£_
_3,237_
_-_
_110_
_9,100_
_-_
_1,400_
_12,500_
_-_
_-_
_3,000_
_5,568_
_16,276_
_20,000_
_2,000_
_1,000_
_3,500_
_77,691_|Total 2026
£
24,930
9,100
5,000
1,960
6,011
5,000
46,657
1,000|
|---|---|---|---|
||||99,658|
||||_Total 2025_
_£_
_24,930_
_21,763_
_110_
_9,100_
_5,000_
_1,400_
_12,500_
_750_
_5,000_
_3,000_
_5,568_
_22,924_
_20,000_
_2,000_
_1,000_
_3,500_|
||||_138,545_|
20
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **5 Income from other trading activities**
|2026
£
Room Hire
7,001
Groups' Income
24,575
Miscellaneous Income
405
31,981
All income from other trading activities is unrestricted.|_2025_
_£_
_4,978_
_24,368_
_715_|
|---|---|
||_30,061_|
|||
|**6**
**Investment income**
**Current reporting period**
Income from bank deposits
Income from Investments
**_Previous reporting period_**
_Income from bank deposits_
_Income from Investments_|Unrestricted
£
8,978
-
8,978
_Unrestricted_
_£_
_8,719_
_-_
_8,719_|Restricted
£
-
2,734
2,734
_Restricted_
_£_
_-_
_2,655_
_2,655_|2026
£
8,978
2,734|
|---|---|---|---|
||||11,712|
||||_2025_
_£_
_8,719_
_2,655_|
||||_11,374_|
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
## **7 Cost of raising funds**
|**Cost of raising funds**|||
|---|---|---|
|Costs of raising funds|2026
£
2,394
2,394|_2025_
_£_
_1,791_|
|||1,791|
All expenditure on cost of raising funds is unrestricted.
21
New Mills and District Volunteer Centre
## Notes to the accounts for the year ended 31 March 2026 (continued)
## **8 Analysis of expenditure on charitable activities**
|Staff costs
Premises
Administration
Gas, Water, Electricity
Project costs
Professional fees
Depreciation
Restricted expenditure
Unrestricted expenditure
**9**
**Analysis of governance costs**
Basis of
apportionment
Independent Examiner's fee
Governance
Accountancy services
Governance
Governance costs
(see note 9)|Total 2026
£
132,505
7,544
12,791
3,728
30,074
1,614
9,382
2,142
199,780
2026
£
67,669
132,111
199,780
_Total 2026_
£
600
1,542
2,142|_Total 2025_
_£_
_123,688_
_7,808_
_14,899_
_4,335_
_27,162_
_752_
_9,382_
_2,040_|
|---|---|---|
|||_190,066_|
|||_2025_
_£_
_86,996_
_103,070_|
|||190,066|
|||_Total 2025_
_£_
_600_
_1,440_|
|||_2,040_|
22
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **10 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):
Depreciation
Operating lease rentals:
Property
Ind. examiner remuneration - Accountancy fees
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Other Staff Costs
Ind. examiner remuneration - payroll bureau
fees
Independent examiner's fee|2026
£
9,382
6,286
1,542
1,020
600
2026
£
123,150
3,469
4,895
991
132,505|_2025_
_£_
_9,382_
_6,286_
_1,440_
_519_
_600_|
|---|---|---|
|||_2025_
_£_
_114,458_
_4,515_
_4,522_
_193_|
|||_123,688_|
## **11 Staff costs**
No employees have employee benefits in excess of £60,000 (2025: Nil).
The average number of staff employed during the period was 6 (2025: 6).
The key management personnel of the charity comprise the trustees and the Centre Manager. The total employee benefits of the key management personnel of the charity were £43,649 (2025: £39,799).
23
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **12 Trustee remuneration and expenses, and related party transactions**
2 (2025: 2) members of the management committee received travel and subsistence expenses during the year, these amount to £1,345 (2025:£314).
Aggregate donations from related parties were £40 (2025: £17).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2025: nil).
## **13 Government grants**
The government grants recognised in the accounts were as follows:
|High Peak Borough Council
Derbyshire County Council|2026
£
5,000
9,100
14,100|_2025_
_£_
_5,000_
_30,973_|
|---|---|---|
|||_35,973_|
There were no unfulfilled conditions and contingencies attaching to the grants.
24
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **14 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **15 Fixed assets: tangible assets**
|Leasehold
Office furniture &
improvements
equipment
**Cost**
£
£
234,566
26,739
Additions
-
-
Disposals
-
-
234,566
26,739
**Depreciation**
197,022
26,739
Charge for the year
9,382
Disposals
-
-
206,404
26,739
**Net book value**
28,162
-
_37,544_
_-_
At 31 March 2026
At 1 April 2025
_At 31 March 2025_
At 1 April 2025
At 31 March 2026
At 31 March 2026|Motor
vehicles
£
38,413
-
-
38,413
38,413
-
38,413
-
_-_|£
299,718
-
-
Total|
|---|---|---|
|||299,718|
|||262,174
9,382
-|
|||271,556|
|||28,162|
|||_37,544_|
25
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **16 Investments**
|Add: additions to investments at cost
Disposals at carrying value
Add net gain/(loss) on revaluation
Investments at fair value comprised:
COIF Charities Investment Fund Units
Market value at the end of the year
Market value at the start of the year
Cash held by investment broker pending
reinvestment|2026
£
93,059
-
-
(7,934)
85,125
-
85,125
85,125
85,125|_2025_
_£_
_97,607_
_-_
_-_
_(4,548)_|
|---|---|---|
|||_93,059_
_-_|
|||_93,059_|
|||_93,059_|
|||_93,059_|
Investments are all carried at fair value and are all traded in quoted public markets.
## **17 Debtors**
|**Debtors**|||
|---|---|---|
|Trade debtors
Prepayments and accrued income|2026
£
1,160
46
1,206|_2025_
_£_
_79_
_1,166_|
|||_1,245_|
26
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **18 Cash at bank and in hand**
|**sh at bank and in hand**|||
|---|---|---|
|Short term deposits
Cash at bank and on hand|2026
£
260,545
6,665
267,210|_2025_
_£_
_231,568_
_54,330_|
|||_285,898_|
**19 Creditors: amounts falling due within one year**
|Other creditors and accruals
Deferred income
Taxation and social security costs|2026
£
5,693
1,193
2,528
9,414|_2025_
_£_
_6,395_
_1,354_
_1,907_|
|---|---|---|
|||_9,656_|
27
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **20 Analysis of movements in restricted funds**
|**Volunteer Centre**
Relocation Project
Active Travel
Swizzels
Befriending
Anonymous Donor
Mind
Total
**_Volunteer Centre_**
_Relocation Project_
_Active Travel_
_Swizzels_
_Anonymous Donor_
_Total_
NHS Derby &
Derbyshire ICS
Chair based exercise
donation
District Nurses' Fund
Royal Countryside
Fund
Pottery class
donation
_District Nurses' Fund_
_Royal Countryside_
_Fund_
**Current reporting**
**period**
**_Previous reporting_**
**_period_**
Derbyshire Dale
Voluntary Service
_D-Oyly Carte_
_Befriending_
_Pottery class_
_donation_
_DCC Infrastructure_
Derbyshire Dale
Voluntary Service|Balance at 1
April 2025
£
101,976
37,544
4,692
-
9,375
-
11,091
111
1,275
-
-
-
166,064
_Balance at_
_1 April_
_2024_
_£_
_108,093_
_46,926_
_4,790_
_(1,233)_
_-_
_9,375_
_-_
_-_
_-_
_-_
_1,550_
_169,501_|Income
£
2,734
-
9,100
1,960
-
1,000
33,963
-
-
6,011
2,456
1,615
58,839
_Income_
_£_
_2,655_
_-_
_9,100_
_3,237_
_1,510_
_12,500_
_1,000_
_3,500_
_46,844_
_111_
_-_
_80,457_|Expenditure
£
(10,930)
(9,382)
(9,810)
(675)
(9,375)
(1,000)
(28,464)
-
(334)
(2,022)
(2,456)
(1,155)
(75,603)
_Expenditure_
_£_
_(5,688)_
_(9,382)_
_(9,198)_
_(4,253)_
_(620)_
_(21,875)_
_(1,000)_
_(3,500)_
_(35,753)_
_-_
_(275)_
_(91,544)_|Transfers
£
(1,574)
-
74
(1,285)
-
-
-
(111)
-
-
-
-
(2,896)
_Transfers_
_£_
_(3,084)_
_-_
_-_
_2,249_
_(890)_
_9,375_
_-_
_-_
_-_
_-_
_-_
_7,650_|Balance at
31 March
2026
£
92,206
28,162
4,056
-
-
-
16,590
-
941
3,989
-
460|
|---|---|---|---|---|---|
||||||146,404|
||||||_Balance at_
_31 March_
_2025_
_£_
_101,976_
_37,544_
_4,692_
_-_
_-_
_9,375_
_-_
_-_
_11,091_
_111_
_1,275_|
||||||_166,064_|
28
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **Name of**
**restricted fund Description, nature and purposes of the fund** District Nurses' Fund Income from dividends and increases in value. Expenditure includes use of minibus. Relocation Project The Relocation Project was created in 2003 and refers to the move to the current premises on Union Road. The project was substantially funded by The Big Lottery and outgoing resources represent the depreciation charge on the improvements to the premises. Active Travel Grant Received from DCC to go towards the cost of travel to medical appointments. Derbyshire Dales Warm Hub Grant Voluntary Services Royal Countryside Community Transport Swizzles Money to go towards Kinder Social Group Annonymous Donor Money to be used to run monthly walking group. Befriending Grant from Big Lottery Mind Grant to be used for improvements to the allotment. Transfers Transfers in respect of donations from participants, and administration and management costs agreed with funders.
29
## New Mills and District Volunteer Centre
## Notes to the accounts for the year ended 31 March 2026 (continued)
## **21 Analysis of movement in unrestricted funds**
|Gap funding -
Community
transport
**Current reporting**
**period**
_Designated funds:_
_Community_
Purchase of new
minibus
Purchase of new
minibus
_General fund_
**_Previous reporting_**
**_period_**
General fund
_Repairs & renewals_
_Befriender costs_
_Gap funding -_
Designated funds:|Balance at
1 April 2025
£
227,026
15,000
-
-
242,026
_Balance at_
_1 April_
_2024_
_£_
_184,442_
_4,000_
_1,103_
_-_
_21,092_
_210,637_|Income
£
115,468
-
-
115,468
_Income_
_£_
_143,900_
_-_
_-_
_-_
_-_
_143,900_|Expenditure
£
(134,505)
-
-
(134,505)
_Expenditure_
_£_
_(78,666)_
_(4,000)_
_(1,103)_
_-_
_(21,092)_
_(104,861)_|Transfers
£
2,896
-
-
2,896
_Transfers_
_£_
_(22,650)_
_-_
_-_
_15,000_
_-_
_(7,650)_|As at 31
March 2026
£
210,885
15,000
-|
|---|---|---|---|---|---|
||||||225,885|
||||||_As at 31_
_March 2025_
_£_
_227,026_
_-_
_-_
_15,000_
_-_
_-_|
||||||_242,026_|
## **Name of unrestricted fund Description, nature and purposes of the fund**
General fund The free reserves after allowing for all designated funds Repairs & renewals To cover the cost of repairs and repainting of the Centre
30
## New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **22 Analysis of net assets between funds**
|**Current reporting period**
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Creditors of more than one year
Total
**_Previous reporting period_**
_Tangible fixed assets_
_Fixed asset investments_
_Net current assets/(liabilities)_
_Creditors of more than one year_
_Total_|General
fund
£
28,162
85,125
97,598
-
210,885
_General_
_fund_
_£_
_37,544_
_93,059_
_96,423_
_-_
_227,026_|Designated
funds
£
-
-
15,000
-
15,000
_Designated_
_funds_
_£_
_-_
_-_
_15,000_
_-_
_15,000_|Restricted
funds
£
-
-
146,404
-
146,404
_Restricted_
_funds_
_£_
_-_
_-_
_166,064_
_-_
_166,064_|Total
£
28,162
85,125
259,002
-|
|---|---|---|---|---|
|||||372,289|
|||||_Total_
_£_
_37,544_
_93,059_
_277,487_
_-_|
|||||_408,090_|
31
New Mills and District Volunteer Centre
Notes to the accounts for the year ended 31 March 2026 (continued)
## **23 Operating lease commitments**
The charity's total future minimum lease payments under non-cancellable operating leases
|Less than one year
One to five years|2026
_2025_
£
_£_
6,286
_6,286_
6,290
_12,576_
12,576
_18,862_
Property|2026
_2025_
£
_£_
6,286
_6,286_
6,290
_12,576_
12,576
_18,862_
Property|
|---|---|---|
|||_18,862_|
## **24 Reconciliation of net movement in funds to net cash flow from operating activities**
|**Net income/(expenditure) for the year**
**Adjustments for:**
Depreciation charge
(Gains)/losses on investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Dividends, interest and rents from
investments
**Net cash provided by/(used in) operating**|2026
£
(35,801)
9,382
7,934
(11,712)
39
(242)
(30,400)|_2025_
_£_
_27,952_
_9,382_
_4,548_
_(11,374)_
_22_
_(1,401)_|
|---|---|---|
|||_29,129_|
32
## New Mills and District Volunteer Centre
## Notes to the accounts for the year ended 31 March 2026 (continued)
## **25 Prior year Statement of Financial Activities**
|Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Transfer between funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net income/(expenditure) for the
year
Net movement in funds for the year
Unrealised gains/(losses) on
investments
Net income/(expenditure) before
net gains/(losses) on investments|Unrestricted
funds
£
44,266
60,854
30,061
8,719
143,900
1,791
103,070
104,861
39,039
-
39,039
(7,650)
31,389
210,637
242,026|Restricted
funds
£
111
77,691
-
2,655
80,457
-
86,996
86,996
(6,539)
(4,548)
(11,087)
7,650
(3,437)
169,501
166,064|Total funds
2025
£
44,377
138,545
30,061
11,374
224,357
1,791
190,066
191,857
32,500
(4,548)
27,952
-
27,952
380,138
408,090|Total funds
2024
£
34,623
109,297
23,817
7,578|
|---|---|---|---|---|
|||||175,315|
|||||2,645
178,324|
|||||180,969|
|||||(5,654)
8,102|
|||||2,448
-|
|||||2,448
377,690|
|||||380,138|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
33