COMPANY REGISTRATION NUMBER: 04793697 CHARITY REGISTRATION NUMBER: 1099610
Carlisle Key
Company Limited by Guarantee Unaudited Financial Statements 31 March 2023
Carlisle Key
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | ||
|---|---|---|
| Trustees’ annual report (incorporating the director's report) | 1 | |
| Independent examiner's report to the trustees | 7 | |
| Statement of financial activities (including income and expenditure | ||
| account) | 9 | |
| Statement of financial position | 10 | |
| Notestothefinancialstatements | 11 |
Carlisle Key
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
| Year ended 31 March 2023 | Year ended 31 March 2023 | Year ended 31 March 2023 |
|---|---|---|
| The trustees, who are also the directors for the purposes of company law, present their report and the unaudited | ||
| financial statements ofthe charity | for the yearended 31 March 2023 | . |
| Reference and administrative details | ||
| Registered charity name | Carlisle Key | |
| Charity registration number | 1099610 | |
| Company registration number | 04793697 | |
| Principal office and registered | 123-127 Botchergate | |
| office | Carlisle | |
| CA1 1RZ | ||
| The trustees | ||
| B White | ||
| PM Coll | ||
| J Sutherland | (Resigned 14 April 2023) | |
| GL Ridgewell | ||
| S March | ||
| Independent examiner | MrRW Gordon, FCA | |
| Briar Lea House | ||
| Brampton Road | ||
| Longtown | ||
| Carlisle | ||
| Cumbria | ||
| CA65TN |
Structure, governance and management
Community Projects Carlisle was registered as a charity on the 29th of March 2003 with the number 1099610. The charity is a charitable company limited by guarantee and was set up on the 10th of June 2003. It is governed by its Memorandum and Articles of Association.
On the 1st of April 2004 it took over the work being undertaken by the unincorporated charity of the same name. The charity's objectives are: 'The relief of need, hardship and distress of young people ages 16-25, in Carlisle and District by the provision of emergency overnight accommodation and other related services and to encourage them towards independent living’.
Directors and Method of Appointment
The Directors of the Charity, who are also its Trustees, are elected at an AGM (or may be appointed during the year by the Board with election at the next AGM). The candidature of people with skills. experience and/or interests relevant to the Charity's activities is encouraged through advertising publicly, employing specialist recruitment agencies and soliciting local organisations. They may serve for up to three years before re-election. The Chief Executive is not a Director but a permanent non-voting member of the Board with the right to attend all Board Meetings unless a conflict of interest exists. The Board meets every quarter. An induction procedure is used for all new members of the Board and includes learning about the history, ethos and day-to-day operation of the Charity as well as outlining their responsibilities, conduct at meetings and relations with staff. The induction is usually carried out by the Chairman supported by other Directors and the Chief Executive. Directors are encouraged to attend training events relevant to their roles or assigned interests within the Charity. The Charity operates consistently by following the policies set out and agreed upon by the Board, supported and implemented by the Chief Executive, Leadership Team and staff. Day-to-day operational responsibility rests with the Chief Executive, who is responsible for all staff, and volunteers who provide valuable support to young people. Objectives and activities
As stated in the Memorandum of Association, the Charity's objective is to relieve the need, hardship and distress of young people aged 16-25 in Carlisle and District by the provision of emergency overnight accommodation and other related services and encourage them towards independent living.
The mission of the Charity is empowering young people and preventing homelessness. This is achieved by providing accommodation and support services. These offer several different programmes all designed to progress people towards independence. By providing a range of services, including accommodation and early intervention and prevention services, our services are tailored to the needs of the young people accessing them. We work with young people to overcome their barriers and achieve their aspirations. Our services include our local Drop-in centre, supported accommodation, well-being programs, counselling services, advice and guidance services. The Articles of Association stipulate the number of trustees shall be no less than three (with no maximum) and trustees are appointed at the
Annual General Meeting.
At Carlisle Key we offer a wide range of services and support including:
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Drop-in Centre.
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Homeless advice, Housing advice and Tenancy advice and advocacy.
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Welfare benefits advice and money management.
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Employability advice and guidance.
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Mental health counselling and support.
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Practical support through access to computers and telephones, food parcels, clothing and household items
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including toiletries. - Online- Social media support.
During the year the charity's main activities undertaken for the benefit of the public were delivered through the 'KEY' drop-in advice centre which also provides practical support, through the provision of food, and clothing. A dedicated Manager with a team of Staff and volunteers offers help and advice on housing, benefits, debt and related issues.
In the year under review, we saw 5923 attendances in person of young people who needed and received help and assistance. During the year we have worked with 218 service users. We see an average of 11 young people each day. The Charity works with many organisations including local authorities, voluntary sector organisations, Children's Services, Youth Support Services, the National Health Service (NHS) the Police and the Probation Service and Offender Management Service, all of whom refer young people to the Charity and with whom we seek to further their interests. Major funders include Local Authorities, charitable trusts, corporate funders, foundations and other charities. We are also supported by voluntary donations - mainly from individuals, local churches, local organisations, schools, etc. To all of them, the Trustees give their thanks on behalf of the most important stakeholders, the young people and the families that we serve.
Another main activity of the charity for the benefit of the public is our Supported Accommodation which provides daily support Monday to Friday to residents living in our two houses which contain 11 individual rooms with shared kitchens, bathrooms, living room and outside yard. At our housing project, we also provide activities and trips to support the well-being of young people. This is something that most young people haven't had access to in the community. Transport, food and support are provided to to different local places in Carlisle, the lake district and the north-west area. At both our housing project and our drop-in service we provide an advocacy support programme for mental health appointments, GP appointments, job centre, criminal justice system, educational purposes and others that are requested by young people. Our housing project collaborates with other agencies in Carlisle; including the Homelessness Department; PHX Training; Citizens Advice; Oak Tree; Riverside; Tullie House; Carlisle Youth Zone; I-Can Fitness; and The Sands Centre to better support young people in the area, including other organizations our young people come in contact with. We will continue developing links for our young people's best health outcomes. Our drop-in service is key to our contact with young people who come to reside in the house and is unique to our service. When a young person first accesses our service we assess their individual needs; create an action plan and identify the wholesome support that they need. spend a lot of time connecting with young people and helping them navigate and engage with other services with the highest need being mental health local services. To cover this support need; we have an experienced Counsellor at our Drop-In Centre and University Student Placements at our housing project.
Public Benefit
The Trustees confirm that they have complied with the guidance of the Charities Act 2011 to have due regard to the public benefit guidance in determining the activities undertaken by the Charity. The Charity Commission, in its "Charities and Public Benefit" Guidance, states that there are two key principles to be met in order to show that an organisation's aims are for the public benefit: firstly, there must be an identifiable benefit and, secondly, that the benefit must be to the public or a section of the public. The Trustees are satisfied that both these key principles are met by the operation and achievements of the Charity which during the year under review has worked directly with 218 young people and had contact with 35% of their family members. Several of our key achievements during the year to 31 March 2023, 53.8% of young people were female, 44.4% male and 1.8% identified as non-binary. Young people are in a downward spiral when they arrive with no social support, and no financial security, unemployed, dealing with relationship breakdowns, mental health and trauma. Our supported accommodation supported 14 homeless youths during this review year by actively supporting them towards independence. 5 of these young people have positively progressed to their private accommodation and have stabilised their circumstances, one young person is currently pregnant and waiting for the local authority to provide her with a flat continuing support through our drop-in; the remaining 9 young people are still belng supported at our accommodation. When they do succeed, the benefit to both them and the local community is enormous. Supporting young people through accommodation can take longer than expected, with waiting lists after COVID-19 being just as extended, diagnosis for mental health can take up to 3 years and being seen by a mental health specialist 1 to 2 years. The Charity's aim is to help young people have a safe space to accept and deal with their problems, turn their lives around, build new connections and become independent and successful members of the community who can realise their aspirations.
This is done by a combination of building strong relationships, individual advice and motivation, insistence on clear standards of acceptable behaviour and the provision of a range of training schemes covering: - basic independent living skills to ensure that young people can look after themselves properly - cooking, hygiene, laundry etc. - understanding finance - dealing with debts, rent arrears and gambling. Learning to budget and to successfully maintain independence on a low income. - health and fitness - activities such as tennis, bike rides, hikes in the lake district, skating, park walks, etc. We've also had a project with | Can Fitness for our supported housing. We also receive products from the local Sexual Health Clinic and refer young people to them. - education and employment - training opportunities are available for young people and support is given to get into work - community contribution - controlling anger, ceasing offending, and taking part in volunteering schemes organised by the Charity to encourage community involvement. - Mental health and wellbeing - Positive mental health and wellbeing help to create a foundation for growth and development. It is important we recognise and address any barriers such as mental health, including generational and ensure young people can access the support they need. The Charity provides a unique combination of services, activities and support for young people to reach their goals. The Trustees believe that this, together with the achievements outlined above, provides considerable evidence of the significant public benefit the Charity achieves.
Achievements and performance
Our records for this financial year indicate we have supported 218 young people 10,431 times. Some of our key achievements are:
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of these young people 47 were supported to maintain their accommodation and 39 secured suitable housing. - 77% of young people have received advocacy support.
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62.3% have recorded a general improvement in their wellbeing.
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Our work continued in this financial year despite a turnover in staff with the support of volunteers and a new admin apprentice. - Our Supported Accommodation service continued to grow, and a total of 43 young people have accessed this service since the start of the project, with 13 young people being supported over this year. - The number of counselling sessions delivered to young people grew, a total of 35 young people accessed this service compared to 27 the previous year. - We have successfully supported a young person through their apprenticeship. - We have successfully supported student placements at the accommodation. - We have successfully changed our marketing strategy and developed a new logo and window graphics. - We introduced a wide range of course providers for our staff teams. - We had a successful launch of our new premises and awareness was increased in the local area - We successfully supported the Mayor's Charity through the planning of local events to increase funds.
The organisation takes a community support approach to working with young people, meaning very simply, that the focus is on their strengths, personalities and their talents, optimising these qualities in order to support young people to realise their potential and fulfill their aspirations. This approach encourages responsibility and accountability, and young people have longer trusted relationships with Staff and volunteers. Volunteers: Currently we have 3 volunteers working and supporting the charity. Volunteers contribute to areas such as premises maintenance and development, community fundraising, finance and administration, support of a database and recording system, management and collection of food / clothing donations. Their varied and significant contributions are greatly appreciated. Our number has been lowered after COVID-19 and leadership changes in the organisation have impacted this number. The Charity aims to further increase the number of volunteers supporting our staff team further in in the coming year, including a Volunteer Coordinator. Outcomes Monitoring: We continue to maintain accurate and comprehensive data records through the "Inform" young people record management system. Governance: A bi-annual self-assessment process to review Board performance is a well-established practice and provides a productive vehicle for continuous governance improvement. The Board currently has 3 Trustees/Directors. Each Trustee/Director has been recruited to a specific role and a competency table is maintained to reflect the overall capability and skill set of the Board and scored to highlight any exposures. The Board is looking in the new year to recruit new trustees, and an information pack will be available at the start of the new year. The Company Secretary tracks changes in both Company Law and Charity Commission regulations and advises the Board accordingly. Necessary and appropriate policies and associated procedures are in place separated into two lists. List A being those that require Board approval and List B being those that do not and are solely within the remit of the CEO and their Leadership Team. A clear statement is maintained on the powers the Board has delegated into the The Charity is proud that despite a challenging organisation year and more environmental challenges for UK charities we have remained focused on our mission and the support for young people has been maintained.
Financial review
Carlisle Key strives to maintain the operations of the charity and continue to pursue a mixed funding strategy. Carlisle Key will maintain and develop positive working relationships with funders to sustain the level of income currently generated by grants. This will help to ensure Carlisle Key can continue the current service provision. Our total reserves for 2023 were at £303,114 with an income of £286,500 and our expenditure for the year at £265,084. We want to thank all our funders for continuing to to support us in our much-needed activities and provisions for the young people who reach out for support.
Our newly appointed CEO is working on developing links and opportunities with funders to generate longer-term funding for the drop-in service, this may be grants, contracts or trade. The prioritisation and decision-making around key areas of work to develop and/or sustain remains with the Board of Trustees who will utilise the CEO's time to support this work. The finances of our drop-in project will be monitored to ensure that the service is cost-effective. The Charity's policy is to establish and maintain a level of reserves which ensures there are adequate funds to meet all current and known liabilities as well as committed development expenditure. In practice, the Directors regularly review
reserves to ensure that they are sufficlent to cover a minimum of Six to nine months cover of committed Income less budgeted expenditure for the next 12 months.
Our Carlisle Key CEO will develop a 3-year strategic plan for the next chapter in the development of the charity. Our new plan will involve expanding the service by adding another supported housing property and sustaining more support for young people as a result. This plan will consider the significant reductions in funding nationally for homelessness and will continue to look/apply for funds to support young people in distress.
The Trustees are responsible for keeping adequate 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.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees’ annual report was approved on 29 December 2023 and signed on behalf of the board of trustees by: GL Ridgewell
Trustee
Carlisle Key
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Carlisle Key
Year ended 31 March 2023
| report to the trustees on my examination of the financial statements of Carlisle Key (‘the charity’) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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, | report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent
examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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).
| 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. Mr RW Gordon, FCA Independent Examiner Briar Lea House Brampton Road Longtown Carlisle Cumbria CA6 5TN 29 December 2023
Carlisle Key
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account) Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 110,522 | 36,097 | 146,619 | 213,880 |
| Other trading activities | 6 | 139,501 | — | 139,501 | 116,770 |
| Investment income | 7 | 380 | - | 380 | - |
| Total income | 250,403 | 36,097 | 286,500 | 330,650 | |
| Expenditure | |||||
| Expenditure on charitable activities | 140,619 | 124,465 | 265,084 | 249,439 | |
| Total expenditure | 140,619 | 124,465 | 265,084 | 249,439 | |
| Net income and netmovement in funds | 109,784 | ( 88,368) | 21,416 | 81,211 | |
| Reconciliation of funds | |||||
| Total funds broughtforward | 193,330 | 88,368 | 281,698 | 200,487 | |
| Totalfundscarriedforward | 303,114 | - | 303,114 | 281,698 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Carlisle Key Company Limited by Guarantee Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 295,691 | 311,773 |
| Current assets | |||
| Cash at bank and in hand | 278,077 | 254,750 | |
| Creditors: amounts falling due within oneyear | 13 | 12,367 | 12,367 |
| Net current assets | 265,710 | 242,383 | |
| Total assets less current liabilities | 561,401 | 554,156 | |
| Creditors: amounts falling due after more than one year | 14 | 258,287 | 272,458 |
| Net assets | 303,114 | 281,698 | |
| Funds of the charity | |||
| Restricted funds | - | 88,368 | |
| Unrestricted funds | 303,114 | 193,330 | |
| Totalcharityfunds | 18 | 303,114 | 281,698 |
For the 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:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 December 2023 , and are signed on behalf of the board by:
GL Ridgewell
Trustee
Carlisle Key
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 123-127 Botchergate, Carlisle, CA1 1RZ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2% straight line Fixtures and fittings - 25% straight line Equipment - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised asa liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Flnanclal assets that are measured at cost or amortilsed cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The liability of the members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the company contracted before he ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributions among themselves, such amount as may be required not exceeding £1.
5. Donations and legacies
| 5. Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Funds | |||
| Funds | Funds | 2023 | ||||
| £ | £ | £ | ||||
| Donations | ||||||
| Donations | 7,323 | - | 7,323 | |||
| Grants | ||||||
| Grants receivable | 5,949 | - | 5,949 | |||
| Release of holding grants | - | 9,097 | 9,097 | |||
| Community Foundation Tyne & Wearand | ||||||
| Northumberland | - | 4,500 | 4,500 | |||
| Cumbria County Council | - | 15,500 | 15,500 | |||
| Albert Hunt Trust | - | 7,000 | 7,000 | |||
| Francis C Scott | 20,000 | - | 20,000 | |||
| Postcode Neighbourhood | - | - | - | |||
| St Martins in the field | - | - | - | |||
| Wates Familty Enterprise Trust | - | - | - | |||
| Newcastle Community Foundation | - | - | - | |||
| The Henry Smith Charity | 50,000 | - | 50,000 | |||
| Lloyds Bank Foundation | 27,250 | - | 27,250 | |||
| EC Graham Forsters | - | - | — | |||
| 110,522 | 36,097 | 146,619 | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2022 | ||||
| £ | £ | £ | ||||
| Donations | ||||||
| Donations | 43,784 | - | 43,784 | |||
| Grants | ||||||
| Grants receivable | 1,260 | 37,868 | 39,128 | |||
| Release of holding grants | - | 9,097 | 9,097 | |||
| Community Foundation Tyne & Wear and | ||||||
| Northumberland | - | - | - | |||
| Cumbria County Council | - | - | — | |||
| Albert Hunt Trust | - | - | - | |||
| Francis C Scott | 20,000 | - | 20,000 | |||
| Postcode Neighbourhood | 20,000 | - | 20,000 | |||
| St Martins in the field | 3,871 | - | 3,871 | |||
| Wates Familty Enterprise Trust | 5,000 | - | 5,000 | |||
| Newcastle Community Foundation | 3,000 | - | 3,000 | |||
| The Henry Smith Charity | 25,000 | - | 25,000 | |||
| Lloyds Bank Foundation | 25,000 | - | 25,000 | |||
| EC Graham Forsters | 20,000 | - | 20,000 | |||
| 166,915 | 46,965 | 213,880 | ||||
| 6. Othertrading activities | ||||||
| Unrestricted | TotalFunds | Unrestricted | Total | Funds | ||
| Funds | 2023 | Funds | 2022 | |||
| g | £ | £ | £ |
| Student placements | 4,400 | 4,400 | - | — |
|---|---|---|---|---|
| Young Persons Income | 6,463 | 6,463 | - | — |
| Rent | 128,638 | 128,638 | 116,770 | 116,770 |
| 139,501 | 139,501 | 116,770 | 116,770 |
| 7. Investment income | ||||
|---|---|---|---|---|
| Unrestricted | TotalFunds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 380 | 380 | - | - |
| 8. Net income | ||||
| Net income is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation oftangible fixed assets | 16,082 | 16,082 | ||
| 9. Independent examination fees | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination ofthe financial statements | - | 180 | ||
| 10.Staffcosts |
| 10. Staff costs | 10. Staff costs | 10. Staff costs | 10. Staff costs |
|---|---|---|---|
| The total staff costs and employee benefits for the reporting period are analysed as follows: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 115,730 | 144,674 | |
| Employer contributions to pension plans | 5,158 | 5,847 | |
| 120,888 | 150,521 | ||
| The average head count of employees during the year was 10 (2022: 10 | ). The average number of full-time | ||
| equivalent employees during the year is analysed as follows: | |||
| 2023 | 2022 | ||
| No. | No. | ||
| Numberofstaff | 10 | 10 |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Tangible fixed assets
| 12. Tangible fixed assets | ||||
|---|---|---|---|---|
| Freehold | Fixtures and | |||
| property | fittings | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At1 April 2022 and 31 March 2023 | 277,417 | 60,841 | 16,322 | 354,580 |
| Depreciation | ||||
| At1 April 2022 | 16,526 | 15,685 | 10,596 | 42,807 |
| Charge forthe year | 5,551 | 6,452 | 40793 | 16,082 |
| At 31 March 2023 | 22,077 | 22,137 | 14,675 | 58,889 |
| Carrying amount | ||||
| At31 March 2023 | 255,340 | 38,704 | 1,647 | 295,691 |
| At31March2022 | 260,891 | 45,156 | 5,726 | 311,773 |
13. Creditors: amounts falling due within one year
| 13. Creditors: amounts falling due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 12,367 | 12,367 |
| 14. Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 36,573 | 41,647 |
| Accruals and deferred income | 221,714 | 230,811 |
| 258,287 | 272,458 | |
| 15. Deferred income | ||
| 2023 | 2022 | |
| £ | £ | |
| At1April2022 | 221,714 | 230,811 |
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 5,158 (2022: £ 5,847 ). 17. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Recognised in creditors: | |||||
| Deferred government grants due after | more than one year | 221,714 | 230,811 | ||
| 18. Analysis of charitable funds | |||||
| Unrestricted funds | |||||
| At 31 March | |||||
| At 1 April | 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | ||
| General funds | 193,330 | 250,403 | (140,619) | 303,114 | |
| At 31 March | |||||
| At 1 April | 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | ||
| Generalfunds | 141,372 | 283,685 | (231,727) | 193,330 |
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At 31 March | ||||
| At 1 April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| Restricted Funds | — | 20,597 | (20,597) | - |
| StJames Place | 6,969 | - | (6,969) | - |
| Nationwide | 9,421 | - | (9,421) | - |
| Tudor Trust | 3,500 | - | (3,500) | - |
| Cumbria CC | 43,410 | 15,500 | (58,910) | - |
| Cumbria Community Fund | 7,000 | — | (7,000) | - |
| Homeless Link | 14,000 | - | (14,000) | - |
| Co-op Local Fund | 4,068 | - | (4,068) | - |
| 88,368 | 36,097 | (124,465) | — | |
| At 31 March | ||||
| At 1 April 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Restricted Funds | — | 9,097 | (9,097) | - |
| St James Place | 7,362 | - | (393) | 6,969 |
| Nationwide | 17,643 | - | (8,222) | 9,421 |
| Tudor Trust | 3,500 | - | - | 3,500 |
| Cumbria CC | 12,740 | 30,670 | - | 43,410 |
| Cumbria Community Fund | 2,000 | 5,000 | — | 7,000 |
| Homeless Link | 14,000 | - | - | 14,000 |
| Co-op Local Fund | 1,870 | 2,198 | - | 4,068 |
| 59,115 | 46,965 | (17,712) | 88,368 |
19. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 295,691 | - | 295,691 |
| Current assets | 278,077 | - | 278,077 |
| Creditors less than 1 year | (12,367) | _ | (12,367) |
| Creditors greater than 1 year | (258,287) | - | (258,287) |
| Net assets | 303,114 | - | 303,114 |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 311,773 | - | 311,773 |
| Current assets | 166,382 | 88,368 | 254,750 |
| Creditors less than 1 year | (12,367) | - | (12,367) |
| Creditors greater than 1 year | (272,458) | - | (272,458) |
| Netassets | 193,330 | 88,368 | 281,698 |
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