Gharlty r8glstratEon numb8r IIVJ8036 {England and INale8) Company r8glstratlon numb•r04582937 NEW HORIZONS COMMUNITY ENTERPRISE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NEW HORIZONS COMMUNITY ENTERPRISE LEGAL AND ADMINISTRATIVE INFORMATION Trust908 MrAJ Hodgklns Mr R Jones Mr R FgheS CouMeJlbr I C Robwt80n Mr R M Thomas Secretary Mr8 El>hir Boycott Charlty number (Enand and Wales) 1098036 Company number 04582937 Rfjglsterod ottlca Blak¢naU Vlllage Centre Thames Road Blaken811 Wa158H We81 MldL7nds Ited Kingdom WS31LZ Audltor bk plus Audlt Limlted Azzurrf H(MJSè Walsall Road dridge Walsall England WS9 ORB
NEW HORIZONS COMMUNITY ENTERPRISE CONTENTS Poge Trusle8s' report statsmènl of Irust66g rasponslbrlllltss Indewdenl gudltots report Statem6rbl Offina1 acllvSl&s 8al8n¢e $he6t Stalemenl ofca8h )1ow8 10 Nolos to the fiNgnd$l stat8m8nts 11-22
NEW HORIZONS COMMUNITY ENTERPRISE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 truste8s prèsènt Ihèir ftnnuol Tep)rt and finandal sl8lemen18 for the ye8r 8nded 31 March 2025. The flnanclal ststemonls have been preparèd In 8cc0rdan¢8 the a¢¢ounUtvJ poMc4as sat OL In Th)le 1 to the financial sialernenis and eLnply wth thè Cha5 govemlng dOcMent, the Companles Ad 2006, FRS 102 Yhè Flnand81 Reporfjng Standard 8ppIIc8ble In the UK and Republ1¢ of Iraland. and tho Charftles SORP 'AccnI1g and Rèp(Jrilng by Chgrllles.. Slalement of Recommended Pra¢tlce appllcable to charfties pt8parfng thelr accounts In ac13 wllh the Flnanc]al Reporflno Standard appliceble In the UK and Republc of Ireland IFRS 1021.. Oblectlves and actlvltles Tho ch8rOVs obleds are lo promote, for publlc bènollt. urban regeneratlon In areas of sool81 and scotMEC deprfvatkjn In Walssll In Blakenall, Bloxwlch East and Learnore. Th8Te has been rrf) change In the polkies adopted In furtherance of Ihese obie¢t8 durfng the year. The $10n statemenl cl Nwl Horiz(9 CoNonunlty Entoywse 19 °New Horlzons Communlty Enterrffise wll be an enterprisSNJ orgartsation which enables eommunlties to Fead in maklng theli ar83 th9 pl¥c8 wh&re thaywont io Ilvo.. This b the 24th year of Naw Hortzons Communlly Entese {NHCE). Publk ben8fit The trusi88y hav8 paid regard to Qui¢Jan Issued by Ihe Charity Commls8bn in éeL¥ding whal actfvilies the ch8rfty should und&tske. Tho trust885 have rxthcenlraled ovw the year on the cA)ntIned Implem8nlallon and dellv&ry ofCharftEble COnunItyAGlfvl08. The (#Jrrent economic dlmale means thai the tharity has to more thon ever focu8 OTI the manaoemenl ol the ch8rty8 aCtItIO$ lo ensur8 th81 Ihe Ghiiy Is s&ll-sustalnlng forth8 lutur8. A¢hlevgmgnts and rtoM1m• SIgran¢ acuvltles and aGhAevements agahs¢ otyed1¥8S The ch8tity owns and operates o number of 8888ts from vknith it 8ams Income. Any surplus generated is to deliv8r cornmunty benefits. The 855ets èlso brlng statuiory, prfvale and Pu1¢ 8ector 8arvic88 10 the thal area f the benefft of the comrnunlty. Th8 asgets arè.. Blakanall Mllaue C4ntre {BVCI, 79 Thamès Road, Blakènall. The bulkllng pdeS a central hub for the de1ry of local levgl cijmmunlly $8nAc&s, In¢ludlng a GP txacllcg, mill¢x 8urg9ry and VWdlk4n £mwg8ncy danlal practtce, a pharmacy, dlstdd nurses and heallh c8r8 8sslstants, h8althy 1rfostyl8 8ervices. 8dutt mental h8aNh se¢8¥ and das an 85s8n1181 hub lor NHS Serv6 in NL)rth Walsall. Th8 c8ntre 8lso offers a meetkng Spa for focal groups - over 50,5 fLwtn, Crafters Scclal Group and h8dth traihlng 88 W811 as wovhllng Conferenc1 and meeting 8paGe for hlre. Can8t8k18 Housè. Abbotts Street, Bloxwkh. The bulkjing hou3es a mnge of Integraled mento1 heaNh dallvarlng to dlldren gcross Dw118y and W81¥911. 1 Qug8n5 Para(b, Hloh StfB&I. Bloxwlch. Tha shw was lei to Ihe National S¢hlzophrenia FglkAv8hlp {Rgthlnk Mant81 Illnassl who op8rBio o drop In tal$(1¢• 8eMe from th In the communlty tho rthrlty oro8Alse8 a number of events and trtps whlch are olther fre8 or subsk118d, w¢h a$ Wlnterwc¥drfOnd- d)ildren meeung Santa- and Irlp6 to Ihe 58asNle and other plEces of Interest. As ontr ol a nts8r of InIaliVe$ undertaken wilh a Gov¢mmgnl 'N8w Deal lor Communlues. gronl belwegn 2000 and 2010, lh8 c*arlly a(fv&nced some £1.7 mlllbn as Homebuy loans to local peoplg. Th? loans were swred by S8£j mortgage on •a¢h of tha 36 prop8rt185 In th8 sch8m and wer• for undefined p8rf(Kl$. Invgslmgnl perfumr9
NEW HORIZONS COMMUNITY ENTERPRISE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Gh8rity has an investmont polloy whlch aims to prIde a balance b91W0 In¢omo and capital growtli u8lfly Gombinabon of etwiti'es, fixed Irstest, rash and altÈmalive investments. The investmen18 are also required to meet certain soclally rgspjnslbla and athlcal Inveslment constr£lnts set by Ihe tru$1995. such as tho avoldan¢e of akohol and tobac%o related Inv881m8nls. The results forthe yoar ran bts view&Y In the altached accsJunts. Flnancjal r•vF Eath year the tru8lee8 carry out 8 de181d rnvkowafthè Charl1 aCtities. Golng Concem At the Ilme of ap[ng tho firn•nGlal 8taiem0nl#, the bste08 h8v6 a reasonable expect811on that the d)arlty hes ad9qU8t8 resour8 io conllnu8 In op8r8Uonal exlstenc• lor Ihe foTeS88ab18 fvture. Reswvgs poll6y 1115 the pL4iw (Jl thè d)arlty Ihat unr88tr1cled fundB whl¢h hav8 not b8an d851gnat•d lor a speclfic use shoUj b8 mkinlained 01 a levd equSv818nl to b81w88n Ihr88 and Bix month's 8xp)nditure. Th8 Irustsa8 nsider that rèserve8 at IhSs lovel will onaura that, In the 6vent of a Blgnificanl drop in fvnding, they wll b8 to cor?n8 th8 charlty'8 trent Actwities nSIderatI is glvèn to ways In whlch additlonal funds may be rai8gd. Th13 level of roswes has bgpn malntainod throughout the year. Prini¥p8ifundku sourc88 In Ihg w¥rgnl yearthe charfly prlndpal source ol Incorne18 frorn fonting out space In Bkkenall Wllage C8ntre. Th9 charity roc4Ned rentd and charge Incom6 of£827.057 durfng Iha year {2024- £850,321). Major Sk8 The prfnripal tsks trj whith ch8rity18 8xpos8d relat8 lo 1086 of tonants and aubsequènt r&ng dlffl¢ulles, and to loss of slaff. Much of the charfV8 letting sp8C8 V5 talkY8d to the speclflc requlrement8 of th8 origln811gnanls and th18 rnak88 sub88qU8nt re4etOng d1fficult. R8dv¢Jor In 8laffing1ov¢ls In Ihe past have resullèd In a srnall bul v8ry kn(pwladgeable core of staff, vthosg knoledge of lh8 chadty's systems and method8 woukl bè dhll(#Jlt to repla¢Ag In th8 8vènl of fiJrth6r Staff sos. Tha liuslegs are very awar8 of tl¥a rfsks and have insllgated sysiem8 to mIgate thtrm and lo kegp Ihgm under n$t rem Plans for frjturn perlod8 rh8 111 condnu8 lo prom9 its assets lo a wde range of publlc servlce ègenls lo enablts much neaéed s8rvi(s to b8 ddNarèd 8nd a¢cssed at a Ial 1gv81. Tonancy agr88ments wlth Ihoso organisalions ulilising th8 charllls assets will conlinug to bo bliShed 8t mèrket values. The tharlty 11 8e8k lo dlslribule surplu5 knnds on Oj8Cts {ch tllerIt r¢sldants and OTganlsatlor$3 which rneet Its slr8teglc oblecUve8. Ihe next financial year 2025126 thg chathy will work In p8rtn8rshlp th Bkix%vtch Community P8rtll8T8hip {BCPI to rJgv8lop tho Lov8 Blakenall CorM)unlty Hub at BVC provlding a new wnmunily 8paGO e<>nlalning a communlty shop, a thafily shop and meed)vJ spara3. 8trLthr•* governance and manag•menl The tharlty Is a ¢omp8ny limited by guaTants8 and was set up by a emandUm ofABsodallon on 6th Novèmber 2002. The trustees, who ar8 abo the dreclors for the wrprA8 of company law. and who seNed QUng the yew and to the date of signature Dfthe ffinandal slatamants were: MrA J Hodgkkns Mr R Jona8 MrR Ciyjndllor I C Rotertson klr R M Thomas
NEW HORIZONS COMMUNITY ENTERPRISE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rectrvllment gnd &pp0h?Èn1 ofinthes Thè managemenl oflhe charfty Is U)e responsIlity of tru8tae8 who are aprdnted undw the term8 oflh8 ArtideB f Associ8lk)n. As set out In Ihe Artides of As8fri8tion a ballot of the truste88 appdnls lh8 Chalr and Chalr. Thefe 8T8 up to 12 Irustees. Apwintment of new Iru9tees 55 8t Bny Ilmè at tho dIscaon of the StIng trust885. Trustees 80 8¢4M)inted 18ko up Ir [lon at th6 start of th8 firsl BDaril Meeting aft8r apF)ointm8nl. None ol the trustees has any benoficlal Interest In ts company. 1 of th& trust8os ar8 m8mb8rs of thè eL¥npany aThJ gu8tsnl8e to ¢ontrlbu¢e £1 In the went of7nding up. Bowd of Trustees. ¥vho admlnL8ter th6 charfty. m88t thr88 fflonthb. Achiel Ex•¢ulfvfj Offir appo1n1 by the In1883 to manag8 th8 dalo4ay oporalKJns of Ihe th8rity. Indurkn 8ndtr8lnlng of Iruste8S New Iruslees undergo Bn induGtion sesslon lo Ixlef Ihem on Ih81T bgal obligations undor thaTrty and company law, th& content ol the Memorandum and Artldes OfAS5latiQn. Ihe committee and deciskjn maklng processes and tho recent flnanclal p8rf¢ymance of the tharity. Durino Ihe induclion Ihay meot Ihe empkJyee8 and other tntea8 V also attend io update them on currenl18s¢Je& 0th8rmaller Dlsabled persons Appllcallony for employThent by disabletl p&r8ons are ahvays fully CA)nshYered, beaiing In mlnd the aplStude3 of the appllGant eK)n(rn8d. In the 8V81ht of Merrt)e of staff b9wmlng d88b18d. ev8ry effort 18 rn8de to 8n8uro th81 Iholr empbymenl wlhin the charity continues and that th8 approprlale Irainlng is arranged, 1118 lh8 wllcy of Ihe chailly thhl Ihe tralning. d8vgkytn8nt ancÈ pr0rThAl of dIs&bl WBons should. gs far 88 PO$Blbl8. b8 kE8ntlcal to that of other grntAoyee8. Employee InvoEv•ment Tha charws policy 18 to con8uII and dlscu86 wllh amployees al meeUng$ matter5 Ilkely to affect employees, InieT8sls. InformAtlon of m8tt8ra ofconc8m to 8mploy8ès b glvan 10 a (x)mmon awarene85 on Ihs partol all empkJyee8 of Ihs financlal and economic f8¢lor$ affedlng the G(nwy. The cherws bvhdly own8d sutk4idiary, New Horfzons Enterprises Lim118d, did not Irdde durjno the year. Audltor In 0rdnce wlth the compJny'8 artick8. a re8olubcffi prOpts that bk plu3 Audit Lwnited be reapp)inted a8 audltor of the company w511 be put al a Gengrol Mgallng. Th Iwuste8s' rerta3 aptxoved by th8 Board rlTrust886. Mr R J£$ Truste• MrR M Thom8S Trust 27 January 20
NEW HORIZONS COMMUNITY ENTERPRISE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Irustaes, who are 4150 the dlre¢lors of New Horrzons C(wnmunlLy Ent8rprfs8 lor the purpose of company law, aro re3pon$ible tr preparSng the Trusteeg, Report and the finAncial st8lemenls In awidgnce wlth applicablo 1 and Unltod Kingdom ACcnE4n9 Standards (United Klng(k)m G6nerallyAcc8ptad Acoounting Plac11. Ccthpany law requtres the trustees lo prepwe finand818t8tÈmrtts for éach flnandgl yearvthlch glve a Iwe and f81r 8w of the slate of affalrs of the chaty and ol thè IncL)mlng reS0eS and appllratlon ol resourcas. Includlng the Income and expendlbjre. of the charitsble tsjmpany for that y8ar. In preparfng thesa flnBndal Statements, the Iru8le98 ere raqulred IO.. - sele¢t sullable 8crA)unting pdlde8 8fKS Ih8n 8PFAy Ih8m o)nslsl8nlly', - ebsÈTve the methods And prfndpt88 In Ihe Ch8rllles SORP: - make j(Klgerngnts and eslim81è8 that ara re8son8blé 8nd wudent.. and - K*op iha fin¢181 staiam6nts on tho oolng o)nc8rn b18 unl&8s il is inappropdgtg to pr8sume that the charlty will r4)nlinue in operatloh. The ttee$ are Tesponsibl8 for kèsplno adéquate aecountlng records tt)at dlsclose wlh reasonRbla awraty at any thg finandal po$llon of the charfly and enable them lo ensure Ihat thg flnaneA815t8lèm•nts comply 1h the CompIe8 Ad 2(KJ6. They 8re also responslble for saf¢guardlrvJ tt)0 assets of the th8rfty and for tswng roasonablg Bleps for th& praventbn and dete¢Uon of fraud and other Irr8gularllles.
NEW HORIZONS COMMUNITY ENTERPRISE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEW HORIZONS COMMUNITY ENTERPRISE Qplnlon Vve have audlted Ihe Iln8ncLg1 slal8mènts of New Horlzons Cclnmuntiy Enterpri80 (the '¢h&riVI lor the year énded 31 March 2025 which comprL8e the stalemenl ol ffinandal aCtie8, the balance sheet, thE s&tem)nt of cash flows and notes IcTr the financlal stètamènts, Intjudlng 8lgnlflcènl a¢counUng polldes. The fin8Adal reporung framowoJk that has been applied in thelr preparation Is appllc8ble18W and Unlt8d Klngdom Attounllno Standards. Sncludlng Flnancial Reporilng Standord 102 7h& Flnanc181 R8POrtlng Standard appliGablg In lh8 UK a$ R8pubUc ol Imtsnd Iunited KlngdoTn GgnorallyAccepted AccvJnllng Pfac(iGel, In our oplrion. the financial s18lements'. glva a trLr¢ and lair iew of the 8tate of the thar[tae c<ry8nV8 as al 31 Marth 2025 and of lis kno)mlng re8our¢es and applkalk)n of resour¢es. for the year then ended.. havg been Proper prepRrE(6 in accord8nce with United Kiwdom Generalty Aeeapted Accounllng Pr&{.. and hove been prepared In a¢c¢rdance th8 r8qulr8ments of the Comp8nles Act 20(. Basls fvr oplnlon We ¢dcted our aud1t In g¢ordan th Inlernatlonal Slandards on Audllng IUKI IISK8 (UKII and appllcable law. Our rèspon$ibllltlos under those standards are futher desulb8d In fhe Auditors rnspon81bllAles for lh8 audll of Iho ffnanclal slsloments sedon ol r40rt. Wg are Independent of Ihe d)8rfly In accudan(% vAth lh8 ethlcal ulrements that #re WV8h1 io our audll uf ihe flnanclal st8tgrnents In the UK Indudlng the FRC'S Ethlcal Slandard, and we have fulfflled our other 81hlcal r8spon8lblllti&s In acc4Jrdance th these requlremanls. We believe th2t the Audlt evidbn(x wè hÈve obt81n&l 18 suffldenl and appropriate to provid8 a b88ig kn ouropnlon. Con¢lu8ion6 r•latlng to golng con¢rn In audiung Ihè finhnBI81 È1818monts, we have conduéed that the Itee5. se ol the gdng con¢em bas18 of ounllng In Ihg prgpar8llon of the flnanclal statementsls apprDprlato. Based tho work we have pwfonned, we have nol Idenllfied any rn8terf4 unc8rtalnti8s reL8liry lo events or condlUon8 Ihal. 1ndldUa1ty lle¢v&. m8y C88t SIOnGanI dtyjbt on the ch8rfly'8 8bllty to u)ntSnuÈ a8 a golng conc8rn for & wrf¢)d ol at taast months from whon the flnandal statemetrt5 are authoA88d for Issug. Our responsibilitiès and th8 r8swsibilities tha Irustees wlih rnsp8(a lo gdrvJ t0M are d&scdbed In the relgwdnl 8edion8 oftrls rep)rt. othèr Informatlon The Oth•r Infonn8lknn IpSe8 lh8 Inform8Uon Includ&J in 8nnu8I rép)k1 oV)8r Ihan thè flnancial gtatements and OUT audllorf8 repcyi thon. The tru51ees are responsibJ8 the other Inlorniatic) contalned Vrithin the onnual r6POrt. Our c4nlon on the fln8n(aal 8lalgments does not cover Ihe olhor Inf(wmalion grnl we th rH)l expre88 any form r4 as8urance condusion thereon. Our responsibilty is to read Eh8 other lnf0rrrkilK and, in df)Sng sq eimsidèr whother Iha other infwnauon Is m8lerf81ty IncnstS18nt wlth the financlal $talomentS OT ow thowlcdg8 obtsined Ihe o)ur88 of tho audit, or otherwise appear5 to malerf811y mvaslaled. If we l(Sontfy such matsrial incon51stenci8s or appargnl matwigl mlsslo1om?nls, w8 8re requlTed to d8termine wh8thef Ihls giv85 ri88 10 a malerlal mtsgtatern8nt In thè financial 8tatsmni8 themsglvgs. 11, baEed on th8 WL w8 hav8 parformed, we condud• that th8r8 L5 a matarlal rn15Stat8ment of thls other Information. we are requlred lo report thBI facL We havo nolhlThJ io report In lfvls r8gard. Mattèrs whleh w8 are requlred to r•port by E•ptiO W# h8vè nothing to report In respect of tha followng mattgrs relation lo whi¢h the Charfth38 {A(xNJunts ¥ThJ Reports) Regulallon9 2008 requlres us tQ T0PQrtto you il. in our Opin. the ln10mon glv8n In Ihe ffinanclsl stat8m¢nts Is ELtent In any matedal raspa¢t vAth the tNsta8a' reptsrt.. or 4uffid8nt 8CLX)Unting r8coTds hav8 not been kept,. or tha flngncLql 8tatsm8ntS are not in agreement wllh Ihe accountlng records: we have not recalvéd all thé Inftsrmation and &xplanaUoTh8 requlro for w Hudtt.
NEW HORIZONS COMMUNITY ENTERPRISE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEW HORIZONS COMMUNrrY ENTERPRISE R8$ponslbllltlg¥ of t¥usl404 AS explalnod more fully In tho stalemenl of Iruslees, resp)nsSNllles. Ihe Iruslees, who 8r8 also the iJifftclor5 uf IhE charfty for the purpose o( cornp8ny18w, are responslble for the prap8rAllon of Iha financisl slalements 8nd for belng Ilsfi8d that Ihey a true and falr vlew, and ftsr sud) Inlvmdl ¢vnlrol as Ihe Iwu61ges delerrnine Ss necessary to enabje Ihe preparAtinn ol financ1 sthtement8 that are free from m8terlBI mlsslat6m8nl, whother due to fr8ud or 81tor. In prepaTing Ihe finanal slalemenls, the Irusle88 are r88pon81bJe lor 8S58S51ng tho tharllls abllrty to conlnue a8 a going CnCOrn, disdoslng, a8 8ppllcabk. mallws reJBted to golng c&)ncM and u8lng the golng concern bas1$ Lsf a¢counllng unless the trusle89 ellher Intend to Ilquldale th8 charil8k48 Ixjmpgny ur to ¢&as opera11cs. or have no reali8lk all8rn&lfvè bLJt to do so. AudltoV8 responslbllltley foy tha audlt of thè flnanclal statements We have bean appolnted as audltor uThdèr sectlon 144 of tha Charilles Acl 2011 and report in acoxdance wlth th& Arl r818Ydnt r8gulatbns rnade OT havlng effect 1hereur0r. Our cbjecuves are to obtalr r8ason8bl6 as8ur8n( 8tK)Ut ether the finanual slalements as a whole are free from rna18rfal mlsstatement. whether due lo Irdud or error, and to issue an auditorf5 repor1 thal Indudes our oplnk)n. Reasonable BBsuf8nC8 18 8 hlgh lev81 of assuranc8 bul Ig N)1 a guarantea thal an audm Ccfflduoted In ran¢& wlth ISAS {UK) wll afvJay5 del8cl a matedal ml88ialgm8nl whgn It 8xlsls. M155tatemonts ¢Bn arise from fraud or error end are )nsIdrè mat8rf8111, IndlTrAdually or In the aggregale. they o)uld ra$on8lMy bè axp8clad to Influ6nc& the econorniG dedshjns ol users laken on th8 ba818 Lrf thes8 finandal stalom8llts. Irreuularllles. Indudlng fraud, are instsnc88 of non-rx)rnplF8hce 1h laws and regulallons. We deslgn WolureS In Iln8 wlth our r88nSIb51}UBS, ouulnod Sbove. lo d&lect matarlal rn1&8tslomenls In respect of irregularltiès, InrludSng fraud. The extent to whkh our prowlur8s ar8 capabb of delt Irr89uLqrlUes. Indudlro fr8ud. Is deldd below. From the wellmlnary 8lag8 of th8 audit, ensur8 our und8r3tandlng of the 8nUly Is up lo dale. Thls Includos, but18 not lknitèd lo. cuirént knowledge of thelr activttle4 Ihe busIn8 and rx)nlrol 8nvtronm6nts, Bnd thoir wmpli8nc wlth Ihe applicable legal and r8gLslatory frarneworks. TN8 informllon SUPPLYt8 our risk Idenlifirxlion and Ihg 8ub8equ¢nt design of audit procedur88 to mrtlgaie thos8 r15ks' 8nSLErf that th8 8udlt ewt18nL oblalned Is suffic1 &nd 8ppropiiate to support our oplnion. In response to ihe r18k8 Klenlified. spgdflc to this Bnllty, WB dedurd procdurn$ Indld, but were not Ilmlled lo: Enqry of managem8nt arKI thosa Charged wllh govèrnaneA around 8eiual And kKStsnal litigation and clains,. Revlawlng mlnutÈs ol mèetlrrfJ8 of those chargedw41h govamance, if avai18blo: RevWInU fln8nckg1 stalernent dl8closur88 and tsslng to supporting dLKumentallon to assess complance vAlh apF4i¢ablo laws and régulations: the rtsk of management oveThidB of ¢oThtroL8, In¢ludlng Ihrough tesung loumal antfies and other adjustments for appropriateness, and evdlualkng Ihe buslness ratI¢al@ for significAnt trav17n8 ouLslde the normal CA)urse of buslness. A further dea[PtIC of our r8sponslbllltlos IB avall8bla on the Flnandal R9POrt5ng CounrAfs web8tt9 al.. htt)$Jl www.fr&org.uklaudltorsr8SPOll5ibllkll8s. Thls d8scrfplion forms p8rt of 8udilols report. Us8 of our report TNS report Is made sdely lo (he charlty's trustees, as a body. In attoTd8rKe wlh P8rt 4 of the ChAritles <Aecwnts 8nd Rgportsl Ragulallons 2008. Our audll work has been undortaken so that wa mlght siaie to the charills Iruslges mallers we are requlred to slats to them In an attdltor's report and for nts othèr PLJrposÈ. To the lu11&8t exient rnlltod by law. we do not accept LY aum8 responslbwlty to anyone othor than the charfty and the charity's trustees a8 a botty, foT our audlt thtyrk, for thLq report. or for th8 oplnlorts W8 have forn6d.
NEW HORIZONS COMMUNITY ENTERPRISE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF NEW HORIZONS COMMUNifi ENTERPRISE K•val Dattanl ACA{Senlor Statutory Audl¢or} For and on behal(ol bk plus AudlE Llmlted, St#tuloryAudltor Charterèd Catllfled AcLwntan16 Azzurrl House Wa15all Road Aldrldge Walsall WS9 ORB England 27 J&nuary 2026 bk plu8 Audll Llmlted 16 ellglble for 8ppdnlmenl 88 aud3t(* of th8 rharlty by rtu of M8 ellglblMy for appdnlmenl as audltor of a cunpany undèrs8Lthn 1212 of lh& Compan18s Act 2006.
NEW HORIZONS COMMUNiff ENTERPRISE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrt¢tod UnrgstriGted fvnds fund& general daslgnat8d 2025 2025 Total lJnre5tr+cted Unr•5tr1cled lunds doxlgnatèd 2014 Total 2025 2024 2024 Notes Incom8 and endowm•nts from.. Donatlons and legacle5 Charlkable actwes Invoslmext8 Qiher Inrne 430 1,139,377 48,664 687 430 1.139,377 48,684 687 886,314 89.260 32,051 968.314 89,260 32.051 Total Inwno 1,189,158 1.189.158 1,rK17,625 80.000 1.087.625 Exp•ndltur• oh: Raising fvnds Charilable acttS 7058 126.756 1,067.016 1,064,688 126,894 1,191.582 940,260 Tolal oxpgndlturè 1,064,688 126.894 1,191.582 948,118 12Q756 1.074.874 Net Incomgllexpendlturel and mov¢m$nt In funds 124.470 1126,8941 <2,424) 146,7561 12.751 Rooonclllatlon of lunds: Fund balBnc89 ol 1 Apdl 2024 1.647.839 5,248.816 8,8,855 1.588.332 5,295,572 6.883.4 Fund bal&nces at31 March 2025 1.772,309 5,121,922 6,894,231 1,647,839 5.248.816 8,896,655 The st81èrnenl of flnancial gctivttles indud23 all oalng and losses reccgnLsed In th8 y88T. All Income an¢J expandttUT8 dèrlv6 from conunulng actiwtie5.
NEW HORIZONS COMMUNITY ENTERPRISE BALANCE SHEET ASAT31 MARCH 2025 202S 2024 Not¢8 Fixed 886ets T8noitAe 053Ot8 Invoslmgnts 15 16 3.833.883 3.W.424 3,833,884 3,964,425 Current 8889ts D8btors Cash at bank and In h8nd 17 729.948 2,680.558 599.045 2.1,871 3.410.501 3.160.916 Cradhorn: amounts falllng due wllhin on• year 18 1350,1541 (228,6861 Nt currenl a$ts 3,060,347 2,932,230 Total assets Jess current liabilitles 6,894,231 8.896,655 Th¢ fund$ of th# eh4rlty Unrastrfcted fvnds- g&n8r81 Unrastsfjci6d fund$- de01d 21 20 1.772.309 5.121,927 1,647.839 5.248,816 8,894,231 6.896.fj55 The company Is antltled to the 8xèmpUon Ihe au¢Jl requlr6m&nl ¢wt8lned In 8ectlon 477 01 th8 CLYry)anl88 Act 2006, forthe yoar 0ndod 31 March 2025, dlreetors aLwWg8 Ihelr responslbllltlès for Cornptylno wlth the requknents of tha Companles Acl 2LK>6 wllh Spect lo accountlng rec(wds And Ihè pr8parallon of financlal sl&ments. The members hav6 n( requlred th8 eompany to obtaln an #udk of its Inandal stalemants under Ihe requirem8nl$ of Ihe CompaFles Act 2006, for Ihe year In qu&sllon In awordanc8 wlth seth)n 476. These financial sttttaments have been preparéd In 8(rA)rd8nGg wlth the PfDVi5VJnS 8PFAi(Hble to c#)rnP8nkn subject lo the sm811 (£4npanles reglmtr. rknanrjal statements were approved by tho Iruslees on 27 JanLtary 2028 o h.JL, Mr R Jones Trustee Mr R MThomas Thistee Ccfflp8ny reglslraJcn number 04582937 IEnglond and W8la8)
NEW HORIZONS COMMUNITY ENTERPRISE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flows from op8fAtlng aCtItI+$ Cash oenerate(O fr oper*lon8 25 65,683 20,066 Investing actlvltles Purehase of tanglbl8 fix 8998ts Pr(teed$ from diaposal ol tanglble ffixed {5521 4,B87 FrOad$ from dlsposal of ibWO8lmonts Inv¢5tfnent Income mc61ved 1.668.714 89.260 48,864 Net cash g8iierated from Invg$llng a¢llvltlg 52,999 1.757,974 N&t e4sh g•n•rated Irom )Inanclng actlvltl•s Net Incrgase In cash and cash ¢qulval8nts 118.682 1,788,040 cash and cash eqUants al b8ginnlNJ of year 2,561.871 773,831 Cosh and cash oqulvalonts at and of 2.680.553 2,561,871 10-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charlty Informotlon New Horths Communty Entgrpri89 l¥ a wfvate MpanY Itmlted by guarantso Incorpthled In England and Wales. The regl81grod offlce Is Blakenall ifjllage Centre, Th8$ Road, Blakenall, Walsall, We51 Mklland5. WS3 1 LZ, Uniled Klngdom. 1.1 AcntInll Gonv•ntlon The financial statements have b88n wepared in a(X0rdan wilh the charftV8 governlng doEUrn8nl. th& Companl6s Aet 2fK16, FRS 102 Yh8 Financial Reporting StsFKl8rd 8ppIltrAe In Ihg UK and RepubliG of Irolanol. and the Charrfies SORP 'Actounling and Reprxting by Charltlas.. Stalemant of Recommended Practice 8pplic8bb to ch8rlb8s preparing thetr accounts In ACLord8ne8 with the Fin8ncial ReportlNJ Stand8rd licable In the UK and Republic of I18nd IFRS 1021". The thavlty Is B PU1¢ Ben6fl1 Entity 8$ defined by FRS 102. The finand41 slat&mant8 are pr8P8red In starlkng, whkh L8 the fund1 curr8ncy of the chality. Monetary 8mounts in the8e flnancl81 statemenls are round&J to the near{ £. The ffinancial stalernents have baon prepared undar Ihe Nstorical DJSI omvgntion. The wlncWI aco)untlng polidas adoptad are set OLti bok)w. 12 Golng concern At the Um8 ol approvlng Ihe fmarKaal slatements. tho Irus( have a msongblo 8xpactadon Ihgt the tharity has adequate resourc£s tr> ciJntlAUO In 1jp8ra1aI ex15tence l( the loreseeBble future. Thus the tW8tees conunue to adopt the going concern basis of accountlng In the fSnancl81 slalemenls. 1.3 Ch8rftable funds Unrestrictad funds are aValble at thé scr8llon of tha trusle88 In fvrlh8ranc8 01 thètr charhablB obl8cUv88. Restrlcled funds are subct to specific conditions ty donors or grxntrjrs Ès to hnw they may ba used. Th• FxJfFY)W dnd uses of tho r•strict8d funds aro sol out In Ihg notes to the flnandal stotsrnents, Enduwmenl funds ara subject to $po¢in¢ o)ndlUon8 by donors that the rpltal musl b8 mahtalneAI by lh8 1.4 Income Irwmg18 reo)gTr188d when the cknwFly Is18oblty entlued to N atter any perfomiance (xndthons h8v6 been m8t, th8 amutsnts can b8 m8&4ured rellably, and 5118 proba6 that Incom911 be rec8fved. C88h donattons are rec¥)gnl8ed on ree*lM. 0th8r danalbns are r8cognlsed cdc4 the chartty h8$ bB8n notiffad of the donation. unless perfomianc£ cKIndlO08 requSre deferral of Ihe 0nI. Incomè lax erVrable in relatron to don8lions received under Glft Ald or deeds of covenant reivJnlsed al the Ilme ol the dongtkJn. L8g8a88 8T9 recognlsed on recelpt or Othe$6 If Ihe chaiity has been notlfled of Bn Impondlng dL8trft)ullon. ihe amount Is known, and r1p1 Is bXP&Gted. If the 8rTh)unt Is not known. the lagacy Is Irealed as a Ingent as58L
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting poKGIos IGont1th•dl 1.5 ExpaMIIturn ExpendltUTe L8 r8(¥Jgnlsed ¢n¢g U)ere Is a legal or CA)nsiwctive obllgatk)n to transfor ?conomlc benefil to third party. It Is probable that a Iran81eT of economlc beneflts 11 be requlred ID $81tlemenl. ond the arywnl of th& obllgavon can te mgasured rbltably. Exwndlture Is dasshled by Bdwity. Tha o)sts of eath acaivlty are madè up of Ihe iolal of direct eogts Bnd shared costs, Indudng svpport costs invdved In undertaklng each acllvlty. Dlred wsts attritable to a sing18 advlly afe allated dlrectly lo that a¢tl¥Aly. Shored costs vknich ct)ntrbuta lo more than one &cJMty and suppcwl costs kthleh Bie not 8itrlbutsbl8 lo a slTrJle acllwty gre appo)oned betsv88n those 8dwlEes on a ba8is cL¥l5tent with the use of rg¥ourees. Cenlml staff c06t8 ar8 altocaled on the b&%18 01 Ilm8 snI. and depr8CAatIe are Allocated on Ihe wtion of tho a886t's use. 1.6 Tanglbl8 fixed assets Tangible fixed as6et8 are Inlllally ma88ured at (t and sub80quty measured al cost or valuatbn, n•t of depreciaticn and any Irrpalrmenl losses. Dapredation is r8cc4ni88d so as to wFlle off the txst or valu¥fjon of assets less thelr resldual v8luèÉ over thelf useful on the 101bng bases.. FleetId larxl and bulldlng9 Lea88lK)Id land and buiklSngs Flxtures and IItti6 K4olor vehlde8 VA slralght Ilna 2% slialght line 25% strdlohl Iln 33% 8tr8vJhl linè Th8 98kn or kJs8 9rt91ng orF the disposgl ol an asset Is deteIned 88 tha drferenc8 b8twe8n the s818 re&Ss and tha C8ng value ol thè aBS8t, and 13 reeoJnl$ed In the statemnt ol financAal athi1118S. 1.7 Fixed a5Sèt Invostments Flxed assot Inveslmanis am inlttaty measured al Iran$action price exdudlno iransactron costs, and gre Bubgewenljy me0$Ur at falr vBlue al ea( r8POrting d8to, Changes In falr value 8re recognlsed In r InrAThell8xpEndlturel for the y&ar. Tr8Msaclion easts ar8 8xp8nsècS as Incurrèd. 1.8 Impalrmant of fix assets Al ea¢h reporting end date. the charity re8W$ th c8rrylno amcwnts of Its 18n01b assets to delernine whèther thare Is any Ind[On that thoBe ass81s have suffgrgd an Imp8lmionl IOSB. If any Such indicatn exists, the r8COVtrèbfe amount of th8 asgot Is esthnated in order to d818mlne th$ oxtonl ol tho Impalmienl 108s any). Cash and $h #qulvalent8 Cash and ¢ash oqufvaknls Include cA8h In h8nd, d8posIts hekl al c811 wlh bonks, other short-lenn IiquKJ investmonts orlynol maturitles of three nnthS or188S, 8fyJ bank overdrBfts. Bank ov$rdrats arg shn Ihln boFrowlngs In eurrenl I'ablThU8s, 1.10 Flnanclal in5trnments The charlty hms elected to 8PPty lh& pmwslons of Section 11 'Basl¢ Flnanca811Th8lrumBnts' and Secllon 12 'Other Fknandal Inslruments Issues, of FRS 102 lo all of Hsfknandal Instruments. FInaal Instruments are rwnlsed In the charlvs b31anc8 sh8tr1 when the charlly becom65 PArty to the iontradual pro$10nS of the In8tNmènt FIllala1 855ets and Ilabllltl88 offset, wTth tha nel arnounlB PmGanted In tha flnandal slatoMont¥. won Ls a legal gnforcaable rfghl to S81 off th8 rerD3ni58d amounts and there Is an int8ntith to sawe on a nel ba8h (x to Mlbs8 the a36el and $ott19 the labi16ty slmultarffjously. 12-
NEW HORIZONS COMMUNTfY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting poli¢ieg {Continu8dl Basic financial a558ls Basic finknclal 05sets. whl¢h Include debtors and $h 8fKI bÈnk balafic8s, Bre InM1811y me8suraO al transacuon Ir¢ludlrvJ Iran$acllon u)8ts and are pJJbs8quenlly carrted al 8mor119ed cogt uslng th8 gffethve Interest method unless Ihe arr8Thuanenl ccmstitutes a fln8ndng n88cuon, wh&re thè tronsacllon is measuTed 81 the pr9S8lll valuB ol the fulure i¢¢dpls dL%tx)unt8d al S marknt rale of Inter881. Ftnandal assgls rJ8S81fled a5 iecelvable wlthln one yeer are not 8m¢y11sed. Btrsle Ilnbnclal IY4YblllUeg Bosbc flN£nclal118bllllles. Including cndltor8 and barq( are Inltl8lly Mthonlséd 8t tr8ns8cU(M) prfce unless the arrangement cA)nstitutes a finandng IranskcUDn. where th8 dobl Instrument Is mea$vr8d al th8 present value ol the lulure payments dl8CAwnled 31 a market r8t8 of Int8r8St. Fknandal 1Sabilthes cl859med as payable thln on8 year 8re not 8mortlsed. Dèbt knslNmnls 8re 8ubwu8nlly carried at SmotSed cost. uslng tha effoctlvo Interest Tate melhod. Tr8dè tt8dltors are oblWtkJns to pay for gth)ds or servw that havè been acqulred In the din8ry course of 0raon6 from supplleTS. AThnts pay8bl8 8rfj cth8rf*d as curr8nl Ilabllltres11 paynI is due wtthln one ar or Igss. If nol. Ih8y are presented BS non-current liabilties. Trade (Yedilorg 8r8 T8cogni88(J inMl8lly at transacdon wke and 8ulxequenlly m888ur&J at arn$8d cost Using th8 eff8cbve interest method. Derecognidon of Ilnanc141 IlablHIIès Flnanclal 1labll1e5 are darwniwl vthen the tharflva tstyntraciual 019&118 expSre or ara dl8¢harged or concèllad. 1.11 Employe0 b&n•fits The st of £ny unused hohY8y enulkment Is re(Y4ni88d In th8 pgriod in which tho ernployeos servl¢•s are rcceNed. Temlnallon bonefitg aro Mcognlsed ImmedlatoW as an expensg when the charfly18 dtmomlrobly wmmlited lo temiinale the employment of an employea or lo provKfg termin8tion b8n8frts. q.12 Retlr&m&nt benefits P8ymenis lo deffined ¢onlributicn retlr8rnant ben8fit stherrts 8re charged Bs an expense as they fall du8. 13.
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accountlng •sllmat•s and ludgements In Ihè 8ppllcatic4) ol tha tharivs accounting pollcles. the Itee8 are required to make judgèment4 eslmat88 and assumptions about the carrySng amount of assets and 118bllllls Ihat ara nol readlty arparenl fvom other s(xtrces, The esumates aro aswlaled asyjmptions based on hlstOTlc81 eXOnCe #nd othw factors Ihal are ¢on8k18r8d lo bo r¢kvant Aclual results m8y diifèrfrcm thése èstlmatss. Tho estlmates a1 underfylng 855umptions are reVwe on an ongoing basi5. RÈvislorns 10 8cttiunlng estlmatès are recognis in the period in whth the estimate IB r8vlsed whor8 lh8 TOViSiW affeG18 lY tliat perkd, or Sn Ihe porkxl of Ih& rewslon and lulure perf(8 wherg th8 revl8ion alfects both current and future p8r4ods. Awued and D&ferred Inwrne In re(>Jgnlslng aGcnd IneA)me in ihe financi81 stalernents. management gsllmate work CL¥npleted 14Jl nol Iled to Ihe ollenL In fecoonl$lno deferrod Inoomo In lh8 ffn8ndal sl818m8n15 man8gement eBlmale work Iled to Ihe dient bul not cCMpted. These estlmatès are based on pro5ecl contracts, rr48ct knowledge and of6sslon81 iudgarnent. Acryua The charly reCdlSe9 8ccru813 a8 part of Its lknand81 rgportlng pcesS to ensu that èXP0ns$$ •nd Ilat411ti86 arg re£y)Ided in the p8Aod In whiLh thèy are Inwrred. regardl8S8 ol when payrnent Is made. Awuals arg e81imated based on hlstorfcal data, contrdciual obllgatlons. and m8nagerrnl's best ludggm¢nl. Th gsllrTtatas are revlewad periodically and adlusted as n$s to rtsflèd the most #ewrnte fhaneAal F)sIWon. Incom• frDm donatlons and kgades Unr•8tsIct•d UnreBtrict•d funds funds 2025 2024 Grants 430 Ib)¢on3e from ch•rliabl• activiti Unr•$trl¢t*d Unr•8trictad fund8 funds gengr81 daslgnated 2025 202S Tclal Unrestrlcted UrnY•slrlcted fund¥ lunds genfrral deslgnated 2024 Total 2025 2024 Rantgl, charga and other 1,139,377 1,139,377 886,314 80,0 966,314 14-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from InvÈstm•nls Uvr•gtrlctod Unr•$trlot•d funds funds gan•ral 9&naral 2Q25 2024 Incomé from listed Inv881ments Inlemst r1VabL9 48,664 84,306 48,664 89.280 other Income UnreJtricted UnYestrict•d funds tur> gon•ral 2025 2024 Net galn on diswsal of tanolbl? fixed assets Net galn on dlswsal of programme related iThveslments Wrfte off of reJ)tsls racelved no geT deomod igpayabte Burance clalms recefvable 687 8,565 12,D36 11,4 32,051 Expendltur• on ralslng funds Unr•strt¢ted lJnre5tr1ct8d funds nd8 g•neral g•n•rAI 2025 2024 Inveslment monagernnl 7,858 15-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AIARCH 2025 Expendilurg on charilabh aGtivltl•$ Communlly Communlty programme programmo 2025 2024 Djrect costs l)ePTecSatlon and Imprment Comnwnlty Programme 126,894 631,601 128.856 592,732 756,495 721.588 Grant lundlng of admlles Ise8 hote g) 60.C Share of support and gDvernonGe Go$ts (Béè not• 101 Supp¥t Govemance 239,14g 106.279 117.399 1,191.582 1.067,016 Analygls by fub Unreslrfelèd fuTrJs- g6nerBI UnT8slrit*d nds. dèslAft8 1.064.688 128.894 940,260 126,756 1,191.S82 1,067.016 Grant8 payab 2025 Grth5 10 in8111ution8'. Olher fjo,00 10 Support ¢08ts allotat to actlvltl88 2025 2024 Stsff fnsts Office and 0th8rc08ts (>)¥eMan costs 273.072 65.256 7,100 70,221 373,087 345,428 Analy8•d bètweon: Unre¥tr¥ct8d fup)ds- genernl 373,087 345,428 18-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Net movement in lundB 2025 2024 The net movement In funds Is sialeé after Gharglrwl{18ditiryl'. Feos payabl8 for the audlt of the charhy'8 fir8ndal stAtei9 Depredation of owned tangIb fixÉd Assètg Prijlbt on dlsposal ol tanglNe flxed 89seL8 8.500 126,894 16871 7,100 128,856 12 Trusteè$ None of the tru81è88 lor any pw8on8 connected with Iheml r¢clv&4 any r8muneratlon or b8nefil8 fmm the charilydurtw Ihe wr. 13 Employ8•8 The avarage monlhty numtw of empkJy8es durfng the yearw89.' 2025 Numbor 2024 Number SuFVOrt work Employment ¢osts 2025 2024 Wa088 and 681&rf88 Sodal Surfty eA)5ts Olhar p8nsion rJ)sl$ 283,503 27,577 3.286 245,432 24,654 2,986 294,3e6 273,072 The number ofempltsyee5 annual remuneration w88 more Ih8n £60.0(XJ Is as follows: 2025 Number 2024 Numbgr £gO.l- £1CO,000 £100.001- £110.C Remunéradon ot k•y m•nag•ment por80nnel The remunerat of key manag8m8nl pawM61 was as follov+B: 2025 2024 Aggreuaio MpenSaOn 10B.899 99,179 17-
NEW HORIZONS COMKqUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Taxatlon The ohartly Is exempt from taxatlon on IIB acilvttles be¢8us8 all It8 INM8 Is appll8d charitabk 15 Tanglble fixed as6•ts Freehold lftnd and bulldlngs Le•sohold FlthfOE and land and fltlkno5 Totsl ¥ohl6kn8 ¢081 At 1 Aprll 2024 Addftions DlsNJsal8 14,031,770 60.000 1,184.939 552 8.4 15.285.109 552 18,41001 18,4WI At 31 March 2025 14.031.770 8QCOO I.1&5,491 15,277,261 Dèpreelatlon and Impalrm•nt At 1 April 2024 Depred8llon charued Sn thts yaHr Elimlneled in respectof disposals 10.106.7J4' 126.332 2S200 1,184.490 1200 362 4200 11,320,684 126,894 (4200) 14.2(Kl) Al 31 Moroh 2025 10.232,126 26,400 1,184,8S2 11A43,378 Carrylng amount At 31 2025 3,799,644 33,600 eag 3,833,883 At 31 Nlarch Z024 3,924,976 34.800 4.2 3,964,424 Th8 value of land Ihdudad In Ibnd )d buIla5 ¢Lnrjsè8. 2025 2024 Freehold 4CK),600 400.600 16 Flx•d a998t Invastm8nto Unllsttd wèstments Cost or v*lu8tlon At 1 hpdl 2024 & 31 hlarch 3)25 Carylng ¥mount Al 31 M8rch 202S At 31 Marth 2024 The ¢haiilW8 wholty 8JJbsldlary Is New Hthns Enterprfses Umlled lch has not tred through1 th8 ye8r and has no assets and cffity share capitsl of a £1 ordSnary 8h8r6. 18-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Debtor8 2025 2024 Amounts falliry du• wlthln on• y8#r. Trade debtors Other deblLS Prepayments and ar£nd IncMe 389,911 250%60 89,477 218,996 250,427 129.622 729,948 599,045 18 Credltors: amounts falling due thIn one yaar 2025 2024 Other laxallon and social SAcJJrity Trade credilors Other credllor8 AccruaL8 end daferrèd Inajmè 91 109,438 7,198 233.427 111.382 7,895 109.321 350,154 228,686 19 Relirernent b8rJefit s¢heme8 2025 2024 D•fiMd ¢ontrlbulk¥n schemes Chargè tts profil or h)55 Irb respectof defined o)ntrlbutk)n sthemes 2,986 Thg d)aTIty Ope108 a deflned cLJnbfjbudon Pa(¢ sch8m& kn $11 quallfylng èmployeès. The assets of te 8chorn6 are he separnlely from Ih08e of Ihe charlty In an indepondgnlly admlnlster8d fund. 19-
NEW HORIZONS COMMUNrrY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AIARCH 2025 20 Unrestri¢tod fund8- dèslgnat•d ar8 unr*thc18d fvnds vthlth ale m8lèrlal lo Ihe eharfty8 a¢11¢8. At 1 Aprll 2024 Incomlng Resour At 31 Mareh 8xponded 202S FIx8d As8018 Fund Hornebuy Fund Future Rgpair and ReF4aeament Fun¢J 3.955.715 420,1 872.21Kl 1126,894) 3.828.821 420,901 872.200 5.248.81fj 1126,8941 5,121.922 Pra¥lous y&ar: At l Aprll 2023 IncomSng R8source8 At 31 Mkrch ro8ourcg8 8xpendod 2024 Flxed Ass8ls Fund Hom8buy Fund Fuiure Repalr ald Replment Fund 4,082.471 420,gJ 792,2(N] (12Q756) 3,955,715 420,901 872,2 a0,(0 5.295.572 80.000 {126.7561 5,248,816 21 UAr•strlctod funds The unTg6tricled funds of tha thIlY cillnwis8 th8 un8XP8Mded b818nc88 ddon8llon8 Bnd granls which we not subjed Io speciftc conditions by donors and gr&nlors 2S to how they may be used. Th88e indude d9slgnatgJ funds vknleh have been sèl asld8 Out ol unrestricted funds by the tru8t89$ foiBp8clfto purpws. At 1 Apdl 2024 Incomlno ources R•sourco$ At 31 March expended 2025 General funds 1.647,839 1.189.158 11.oe4.6881 1,772.309 Previo Yr. At l Aprll 2023 Incomlng R•$tsureès Al 31 M#r¢h rg$ovre•s gxpond¢d 2024 General funds 1.5B8,332 1,007.e25 {948,1181 1.647.839
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 22 Analysls of nèl botween funds UnrÈgtrfct•d Dealgnatfjd funds fuhds Total 2025 2D25 2025 At 31 March 2025= Tangible assets Investments Currenl asset511liabiliti881 3.833.183 3033.B83 1.772,308 1,288,039 3,060,347 1.772,309 S,121,922 6.894.231 Unrestrlcted Designated funds funds Totsl 2024 2024 2024 At 31 March 2024- Tong118 assets InvestmeS Current as5e151{ligbrfiliesl 3.g64.424 3.964,424 1,647.838 1,284,392 2,932,230 1,eA7.839 6.248,876 6,896.856 23 Operatinq18a88 commltmentg L•aseè At the rortlng end date the ch9rity had outslarKllng commkngnls for lLrtU mlnlmurn la8e payTngnts undar
-[3nlIable cperaUng1oas68. whl¢h fall due aB follows.. 2025 2024 thln one year Betsvaan two and1fv8 years 19.157 113.OS6 19.462 56.545 132213 76,007 21-
NEW HORIZONS COMMUNITY ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Op•rallng lèase ÈornmSthi•nts (Continu•d) Lèssor Thè rental incAJme T8presenl leases to thtrd paes. The 18as¢s 8fft neg)Ugled over leFms of l 10 20 y88rs. All 18as8s Indud8 Z PTovision renl revlewg KdIng to prèv8llln9 market condlU'on8. At the r8PDrting end date thè charfly had ¢(tracted vlth t¢n•nts for the fouowlng mlnlmwi W paynKgnts: 2025 2024 Within c0 year 6ehve6n fvvo and flv& y¢ars In over flve years 314,716 922.485 121,329 336,920 1,144,444 206,298 1.358,530 1.687,662 24 R•lated party Iransa¢tlons There were no dl8¢losable rdated party Ir8nskr&ions durlng Ihe year {2024- Mnel. 25 ¢a$h generatgd from op•r•tlons 2025 2024 IDafiLitV8urr4us fortha y88r (2,424} 12.751 Adluslments for. Inv68tment Incomè mcognlsed In statement of fifjand81 acllvldes G8ln on disposol of tangllAe llxod assets Dapr¢datton and Iwlmiant of tanglb18 fixe*J a58ets 148.664) 16871 126.804 189.260) 128.856 Mov8ments In worldng e4)Ital: Ilnueasel kn debtOfS Increase In ueditor8 1130.gJ41 121,468 8,ogBI 5.817 ash generoted from operntions 65,683 30,066 26 Ama15 ol changès In n•t fund• Th8 had motÉrtAI dabt during the yeer. -22-