Company registration number: 04358352 Charity registration number: 1098537
Adventure Hyndburn Ltd
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
Adventure Hyndburn Ltd
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Statement of Cash Flows | 9 |
| Notes to the Financial Statements | 10 to 18 |
Adventure Hyndburn Ltd
Reference and Administrative Details Trustees Ms J Addison Mrs S Akhtar Mrs M Askew Mr R Hooper Mrs K Pratt Principal Office The Park Child & Family Centre Norfolk Grove Church Accrington Lancashire BB5 4RY Company Registration Number 04358352 Charity Registration Number 1098537 Bankers Yorkshire Bank 40 Church Street Blackburn Lancashire BB1 5AW Independent Examiner KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
Page 1
Adventure Hyndburn Ltd
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.
Trustees
Ms J Addison
Mrs S Akhtar (appointed 26 July 2022)
Mrs M Askew Cllr M Dad (resigned 7 July 2022) Mr G Harrison (resigned 3 April 2023)
Mr R Hooper
Mrs K Pratt (appointed 13 July 2022)
Objectives and activities
The Charity’s objects (“the Objects”) are for the benefit of the public in the borough of Hyndburn and the communities of East Lancashire:
a) to work with children and families to promote the physical, emotional, intellectual and social development of children and young people, especially those who are disadvantaged to ensure they have the ability and confidence to succeed at school and beyond
b) to relieve unemployment in such ways as may be thought fit, including providing assistance to people to find employment.
Organisational background
The charity was founded in 2002 as a response to the Sure Start initiative. In September 2016, Lancashire County Council decommissioned all the charities and schools that had been delivering Children’s Centres on their behalf.
Achievements
Adventure Hyndburn has succeeded in managing through an especially challenging year for the early years sector.
• We have continued to offer, advertise, and develop all Forest School activities with good retention of existing commissions, new community events were offered and relationships have been developed despite a challenging financial climate for schools and other organisations.
• All 4 nursery settings remain Ofsted good gradings. First Steps was inspected July 2022 and The Park Nursery was inspected in December 2022
• The organisation is continuing to promote and investigate additional ways to increase revenue by renting out space for training, adult learning, external toddler groups etc.
• The Operations Manager continues to look to minimise expenditure at each site where possible despite large increases in energy, staff, and food costs since January 2023.
Page 2
Adventure Hyndburn Ltd
Trustees' Report
Team and Trustee Changes 2022/2023
All community and nursery staff remain largely unchanged during this financial year and as of March 2023, Adventure Hyndburn employed a total of 33 staff. This, together with the hard work and dedication of the Adventure Hyndburn team, has contributed to the consistency and quality of performance seen through out the year.
During the year two new trustees were appointed, Shaheen Akhtar and Kathleen Pratt, with one trustee resigning, Munsif Dad. Shortly after the financail year end, Glen Harrison resigned as a trustee as well.
Buildings
Adventure Hyndburn operated services and activities across 7 sites - 5 buildings and 2 Forest Schools.
The Park Child & Family Centre, Norfolk Grove, Church, Accrington, BB5 4RY - Lancashire County Council Child & Family Wellbeing Service & three NHS midwife teams also operate out of this building through lease and rent arrangements.
The Beeches Child & Family Centre , Rimington Avenue, Ferngore, Accrington, BB5 0NP - a charity for adults with special needs, Motivat8, moved out of this building in October 2022
The Oaks Child & Family Centre , St Peter’s Church, Richmond Street, Accrington, BB5 0SJ - Nelson & Colne College also offer ESOL classes out of this building
First Steps Child & Family Centre , Princess Street, Accrington, BB5 1SP
Willows Training & Meeting Centre , Trinity Church, Roughlee Road, Accrington, BB5 2LU - this previously leased area was returned to the church on 31.12.2022.
Forest School at the Park , Norfolk Grove, Church, Accrington, BB5 4RY
Forest School at Rothwell Heights , Willows Lane, Ferngore, Accrington, BB5 0NH
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when setting the Charity's aims and objectives and in planning future activities and setting policy for the year.
A year in review 2022/23
Occupancy continues to improve at all sites. However this is a slow process and overall numbers of children attending continue to be impacted by conditions in the sector.
The biggest challenge this financial year and moving forward has been inflation and especially the increase to utility costs, which have seen an increase of around £44k compared to the last financial year. It is extremely difficult to reduce these but attempts have been made to mitigate the overall impact to the charity. We have also seen that food costs have increased by roughly £6k since 2021-2022.
The Park Child and Family Centre was offered up as a warm and welcoming space, in partnership with Hyndburn Borough Council for families/people who needed somewhere warm to come in the winter months. As people struggled to heat their homes due to high energy costs, several local buildings offered themselves up as somewhere available for people who needed it.
Page 3
Adventure Hyndburn Ltd
Trustees' Report
We were also successful in receiving £4k of Household Support Funding which enabled us to source, provide and distribute 70 food parcels to local families in need in Hyndburn.
A walk-in support service for local families was launched at the Park Child & Family Centre in January 2023 for the Speech and Language, Health Visitors and Family Outreach Teams. It is a pilot scheme and is proving very successful.
Structure, governance and management
The Board is responsible for the strategic development of Adventure Hyndburn and strives to represent the views and needs of the community. The trustees have power to appoint/elect new trustees.
It is worth noting that in order to be the registered person with Ofsted, Joanna Berry has to register as a director with Companies House but with no voting authority. The Articles have been revised and updated for current practice and to allow for the Ofsted regulation. All Directors are now registered with Ofsted, have up to date DBS certificates, EY2 forms and are registered with the update service.
Safeguarding
Adventure Hyndburn has a Safeguarding and Child Protection policy and all team members, Board Trustees, partners, volunteers, and anyone in contact with children are subject to checks with the Disclosure and Barring Service (DBS). All staff and volunteers also undertake Level 1 Safeguarding training and have a Safeguarding Induction with a Nominated Safeguarding Officer to ensure that they are supported in meeting the requirements of their role. Team members have regular updates to their training in line with recommended requirements of either every two or three years.
Principal Risks and Uncertainties
Adventure Hyndburn has assessed the major risks to which it might be exposed, in particular those related to the operations and finance of Adventure Hyndburn, and Trustees are satisfied that systems are in place to mitigate the exposure to major risk.
The organisation has faced several major risks across its services of delivering Nurseries and Community Services
-
Inability to make significant cost savings to match falling revenue
-
Inability to attract grant funding and commissions
-
Failure to operate the nursery provision sustainably
-
Reputational and financial risk of a poor Ofsted judgment or a successful personal injury claim
Financial review
The financial statements show that income has increased when compared to the last financial year, from £690,104 to £806,220, with a corresponding increase in expenditure, partly due to the reasons outlined above. The deficit for the year was £398,763 which includes depreciation of £69,101, additional pension costs of £24,100 and the loss on disposal of the lease at The Willows, as discussed below, of £364,980. Adjusting for these costs results in a surplus of £59,418 (2022 - £8,924). This shows a continuing improvement in the charity of it managing its cost and the increasing occupancy that the nursery has seen. With this in mind, the trustees will continue to apply strategies to break even in the next financial year.
Page 4
Adventure Hyndburn Ltd
Trustees' Report
Reserves
Reserves at the year end are: General £576,634 Fixed assets inc property £1,888,561
The trustees continue to review the level of reserves (excluding fixed assets) of the charity. The aim is to have three- six months of the organisation’s running costs, which, based on the 2023 accounts is £200k - £400k. At the year end the reserve is higher, but the trustees are mindful of the challenging financial environment.
Trustees are aware that although buildings could be regarded as “Reserves”, for practical purposes, to safeguard the organisation, they would ensure that 3 months operating costs would be held in the form of liquid assets i.e. cash in the bank.
Pension Deficit
The charity is a member of the Lancashire County Council Pension Fund and like similar schemes organisations have to make yearly payments to meet the deficit that has arisen over recent years. The Charity has agreed annual payments to the fund to pay off the deficit and to limit new members joining the scheme to non Nursery staff. This is based on striving to have terms and conditions comparable with competitors and that are affordable. Annual payments were in the region of £24,000 for the year ending 2022/23. The trustees note the reduction to Nil from 2023.
The charity has taken measures to meet the requirements of the scheme to have the deficit underwritten by granting the Pension Fund a charge on the charity's property at The Park. The benefits are that the organisation can remain in the scheme and the organisation’s cash reserve can be used for the wider benefit of the charity rather than be committed to underwriting the deficit. If the charity were to leave the scheme either through choice or failure to make deficit payments the full deficit amount would become payable.
Exceptional items
For a number of years, Adventure Hyndburn leased a church as a training and meeting centre (The Willows). As of the 31 December 2022 this lease has been handed back to the church owners. The alterations to the premises was capitalised in the accounts at the time the lease was taken, which, as a result of The Willows ceasing to be of use to Adventure Hyndburn has triggered a disposal in the statement of financial position. The loss on this disposal (being the cost less any depreciation up to the point that the lease was handed back) is £364,980, increasing the deficit of Adventure Hyndburn to £398,763.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 31 October 2023 and signed on its behalf by:
......................................... Mr R Hooper Trustee
Page 5
Adventure Hyndburn Ltd
Independent Examiner's Report to the trustees of Adventure Hyndburn Ltd
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 18.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Adventure Hyndburn Ltd (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 Adventure Hyndburn Ltd 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 charity’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
Since Adventure Hyndburn Ltd's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Charity Independent Examiners, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of Adventure Hyndburn Ltd as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
...................................... Mark Heaton FCCA FCIE DChA KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
31 October 2023
Page 6
Adventure Hyndburn Ltd
Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income from: Charitable activities 3 Investment income 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Gains/losses on investment assets Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted funds £ 771,950 3,586 30,684 806,220 (1,205,684) (1,205,684) 701 (398,763) (398,763) 2,863,958 2,465,195 |
Total 2023 £ 771,950 3,586 30,684 806,220 (1,205,684) (1,205,684) 701 (398,763) (398,763) 2,863,958 2,465,195 |
Unrestricted funds £ 659,370 734 30,000 690,104 (776,897) (776,897) - (86,793) (86,793) 2,950,751 2,863,958 |
Total 2022 £ 659,370 734 30,000 |
|---|---|---|---|---|
| 690,104 | ||||
| (776,897) | ||||
| (776,897) - |
||||
| (86,793) | ||||
| (86,793) 2,950,751 |
||||
| 2,863,958 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 15.
Page 7
Adventure Hyndburn Ltd
(Registration number: 04358352) Balance Sheet as at 31 March 2023
| Note Fixed assets Tangible assets 10 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2023 £ 1,888,561 100,701 1,989,262 55,862 516,730 572,592 (96,659) 475,933 2,465,195 2,465,195 2,465,195 |
2022 £ 2,322,642 - |
|---|---|---|
| 2,322,642 | ||
| 36,393 569,258 |
||
| 605,651 (64,335) |
||
| 541,316 | ||
| 2,863,958 | ||
| 2,863,958 | ||
| 2,863,958 |
For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 31 October 2023 and signed on their behalf by:
......................................... Mr R Hooper Trustee
Page 8
Adventure Hyndburn Ltd
Statement of Cash Flows for the Year Ended 31 March 2023
| Note Cash flows from operating activities Net expenditure Adjustments to cash flows from non-cash items Depreciation Investment income 4 Loss on disposal of tangible fixed assets Revaluation of investments Working capital adjustments Increase in debtors 12 Increase in creditors 13 Increase/(decrease) in deferred income Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 4 Purchase of tangible fixed assets 10 Purchase of investments 11 Net cash flows from investing activities Net decrease in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March |
2023 £ (398,763) 69,101 (3,586) 364,980 (701) 31,031 (19,469) 27,486 4,838 43,886 3,586 - (100,000) (96,414) (52,528) 569,258 516,730 |
2022 £ (86,793) 71,717 (734) - - |
|---|---|---|
| (15,810) (17,267) 7,795 (105,680) |
||
| (130,962) | ||
| 734 (7,253) - |
||
| (6,519) | ||
| (137,481) 706,739 |
||
| 569,258 |
All of the cash flows are derived from continuing operations during the above two periods.
Page 9
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: The Park Child & Family Centre Norfolk Grove Church Accrington Lancashire BB5 4RY
These financial statements were authorised for issue by the trustees on 31 October 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Adventure Hyndburn Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income
Income is recognised and included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income; receipt is probable; and the monetary value can be measured with sufficient reliability.
Page 10
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
Expenditure
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £800 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Freehold property | 2% per annum straight line basis |
| Improvements to leasehold property | 2% per annum straight line basis |
| Furniture and fittings | 20% per annum straight line basis |
| Computer equipment | 20% per annum straight line basis |
Pensions
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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.
Page 11
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
Critical accounting estimates and areas of judgement
The estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions include depreciation of tangible fixed assets, accruals, prepayments and bad debt provisions.
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Operating lease
Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.
3 Income from charitable activities
Unrestricted funds
| Services provided Activity income Grant income Nursery income |
General £ 56,064 23,408 531,382 161,096 771,950 |
Total 2023 £ 56,064 23,408 531,382 161,096 771,950 |
Total 2022 £ 57,824 36,581 426,172 138,793 |
|---|---|---|---|
| 659,370 |
4 Investment income
| Bank interest receivable 5 Other income Room rental |
Unrestricted funds General £ 3,586 Unrestricted funds General £ 30,684 |
Total 2023 £ 3,586 Total 2023 £ 30,684 |
Total 2022 £ 734 |
|---|---|---|---|
| Total 2022 £ 30,000 |
Page 12
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
6 Expenditure on charitable activities
| Note Service delivery Support costs 7 Depreciation Governance 7 |
Unrestricted funds General £ 677,868 82,375 434,081 11,360 1,205,684 |
Total 2023 £ 677,868 82,375 434,081 11,360 1,205,684 |
Total 2022 £ 617,126 83,961 71,717 4,093 |
|---|---|---|---|
| 776,897 |
Included in the depreciation figure above is the loss on disposal of The Willows, amounting to £364,980.
7 Analysis of governance and support costs
Support costs
Unrestricted funds
| Staff costs Wages and salaries Employers NI Staff pensions |
General £ 65,056 5,484 11,835 82,375 |
Total 2023 £ 65,056 5,484 11,835 82,375 |
Total 2022 £ 66,929 5,367 11,665 |
|---|---|---|---|
| 83,961 |
Governance costs
Unrestricted funds
| Examination of the financial statements Bookkeeping fees Consultancy fee Legal fees |
General £ 2,280 1,493 930 6,657 11,360 |
Total 2023 £ 2,280 1,493 930 6,657 11,360 |
Total 2022 £ 2,340 1,455 330 (32) |
|---|---|---|---|
| 4,093 |
Page 13
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Wages and salaries Social security costs Pension costs |
2023 £ 448,129 20,385 69,509 538,023 |
2022 £ 431,629 18,766 71,416 |
| 521,811 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Charitable services Management and administration |
2023 No 31 2 33 |
2022 No 29 3 |
|---|---|---|
| 32 |
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £43,045 (2022 - £41,522).
Page 14
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
10 Tangible fixed assets
| Cost At 1 April 2022 Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Eliminated on disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Freehold property £ 1,481,896 - 1,481,896 372,239 29,632 - 401,871 1,080,025 1,109,657 |
Leasehold property £ 2,028,333 (545,981) 1,482,352 821,830 37,838 (181,001) 678,667 803,685 1,206,503 |
Fixtures, fittings and equipment £ 775,558 - 775,558 769,076 1,631 - 770,707 4,851 6,482 |
Total £ 4,285,787 (545,981) |
|---|---|---|---|---|
| 3,739,806 | ||||
| 1,963,145 69,101 (181,001) |
||||
| 1,851,245 | ||||
| 1,888,561 | ||||
| 2,322,642 |
11 Fixed asset investments
Other investments
2023 £ 100,701
Other investments
| Cost or Valuation Revaluation Additions At 31 March 2023 Net book value At 31 March 2023 |
Listed investments £ 701 60,000 60,701 60,701 |
Unlisted investments £ - 40,000 40,000 40,000 |
Total £ 701 100,000 |
|---|---|---|---|
| 100,701 | |||
| 100,701 |
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Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
12 Debtors
| 12 Debtors | ||
|---|---|---|
| Trade debtors Prepayments Other debtors |
2023 £ 33,970 15,641 6,251 55,862 |
2022 £ 18,336 18,057 - |
| 36,393 |
13 Creditors
| 13 Creditors | ||
|---|---|---|
| Trade creditors Other creditors Accruals Deferred income |
2023 £ 9,338 9,116 31,110 47,095 96,659 |
2022 £ 5,530 8,298 8,250 42,257 |
| 64,335 |
14 Contingent liabilities
The charity has previously received grant funding which has been used to build and make improvements to its properties and has contributed towards the costs of fulfilling the charitable objectives of the organisation. The terms of these grants specify that some or all of the grants could become repayable within various periods, between 10 and 25 years of the payment of the final instalment of the grant, if the organisation fails to utilise the grant for the purpose for which it was given.
If the organisation recognises that it may have to repay some, or all of, the grant it will create a liability in the accounts prior to making the repayment. Beyond such circumstances, the trustees do not consider, however, that, as a result of the passage of time and the normal terms under which grants have been made, there is likely to be any crystallisation of a material liability.
Page 16
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
15 Funds
| Unrestricted funds General Fixed assets Unrestricted funds General Fixed assets |
Balance at 1 April 2022 £ Incoming resources £ Resources expended £ Balance at 31 March 2023 £ 541,316 806,220 (770,902) 576,634 2,322,642 - (434,081) 1,888,561 2,863,958 806,220 (1,204,983) 2,465,195 Balance at 1 April 2021 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2022 £ 563,645 690,104 (705,180) (7,253) 541,316 2,387,106 - (71,717) 7,253 2,322,642 2,950,751 690,104 (776,897) - 2,863,958 |
Balance at 31 March 2023 £ 576,634 1,888,561 |
Balance at 31 March 2023 £ 576,634 1,888,561 |
|---|---|---|---|
| 2,465,195 | |||
| Balance at 31 March 2022 £ 541,316 2,322,642 |
|||
| 2,863,958 |
16 Analysis of net assets between funds
| 16 Analysis of net assets between funds | ||
|---|---|---|
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 1,888,561 100,701 572,592 (96,659) 2,465,195 Unrestricted funds General £ 2,322,642 605,651 (64,335) 2,863,958 |
Total funds 2023 £ 1,888,561 100,701 572,592 (96,659) |
| 2,465,195 | ||
| Total funds 2022 £ 2,322,642 605,651 (64,335) |
||
| 2,863,958 |
Page 17
Adventure Hyndburn Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
17 Pension commitments
Defined contribution pension scheme
The charity operates a defined benefit pension scheme. The scheme is a multiple employer scheme and the charity is unable to identify its share of the underlying assets and liabilities.
Certain employees are members of the Lancashire County Council defined benefit pension scheme. The scheme is valued on a triennial basis by the fund actuary, Mercer. At the last such valuation in 2022, the scheme had a funding level of 100% (2016: 90%).
The charity's underlying share of assets and liabilities cannot be separately identified and it is not practical to quantify the extent of any underlying element of the charity's liability at any given date. Therefore, contributions are charged to the statement of financial activities in the year in which they are paid. The contributions paid during the year amounted to £85,221 (2022 - £82,274). Contributions amounting to £Nil (2022: £Nil) were payable to the fund at the balance sheet date.
Page 18