Company Registration No: 05164768 (England and Wales) Registered Charity Number: 1106085 THE AYLESBURY YOUTH MOTOR PROJECT LTD REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
THE AYLESBURY YOUTH MOTOR PROJECT LTD Trustees Report for Year Endlng 31st March 2025 Reference and admlnlstratlve Infomiatlon The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements of the charity for the year ending 31st March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, issued in March 2005. This report follows the requirements of smaller charities not subject to a statutory audit. The Charity and company registration numbers are as follows: Charity- 1106085 Company- 5164768 (England and Wales) The Board of trustees and directors who have held office since 31st March 2024 to date are Stuart Forbes, John James (Chaimian),Colin Watson (appointed 19th November 2024),Richard Howe (appointed 19th November 2024), Geoffrey Sherley (resigned 19th November 2024), Graham Parker (resigned 19th November 2024). Board meetings have also been attended by the Project Manager. Reqistered Office Units 48-50 Edison Road, Rabans Lane Industrial Estate, Aylesbury, Buckinghamshire, HP19 8TE Accountants D A Fane, 6 Ridge Close, Aylesbury, Bucks, HP219AH Structure and Governance The charity is a registered company limited by guarantee with a written constitution, memorandum and article. The trustees meet regularly on agreed dates throughout the year. Meetings are minuted and subject to approval at the following meeting. New trustees would be subject to unanimous approval and invitation from the existing trustees and subject to interview and appropriate references. Objectives and Activities The objectives of the charity are to provide training that enables young people to leam automotive skills that will enable them to enter the world of work or continue in education. The charity largely works with 14 - 19 year-olds and very much caters for young people who find the academic environment in schools unsuitable, and those with leaming and behavioural difficulties. Achievements and Perfomiance The year ending 31st March 2025 showed change for The Project with a move to a new location doubling the size of the premises in order to support our continuing expansion. The need for this move was recognised over recent years. Programme sales expanded from £239,422 to £319,901 an increase of some 33 % , with additional customers mainly from the special needs sector. Commercial work dedined slightly. Grants totalled £44,522 against £10,670 the previous year. We continue to be grateful to all our generous supporters induding The Rothschild Foundation, Thames Valley Police, Heart of Bucks, Betty TV, Motoserve,Aylesbury Vale D.C. , Clare Foundation, King Collimore, Lords Foundation and the public. Expenses showed a large increase to £426,057 from £259,031. This was largely due to the high refurbishment costs of the new premises including re-wiring, security, alarms, offices etc. Total cost including capital equipment was approx. £100,000. The other high cost increase was in staff where two additional employees were taken on to support additional training needs and provide capacity for the future. Whilst rent doubled the effect of this will be noticed during 2025126 year as the new lease was not effective until February 2025. Page 1
THE AYLESBURY YOUTH MOTOR PROJECT LTD Risk By order the Board John Jame•- Dated .
THE AYLESBURY Yoimi MOTOR PROJECT LTD DAF AyWury Bucks FF219AH Page 3
THE AYLESBURY YOUTH MOTOR PROJECT LTD PROFIT & LOSS ACCOUNT YEAR ENDED 31 MARCH 2025 2025 2024 Unrestricted Restricted Total Totsl Funds Funds Funds Funds Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Activities for generating funds Profft on sale of assets 44,522 44,522 10,670 413,032 413,032 338,408 Investment income Total incoming resources 457,554 457,554 349,078 RESOURCES EXPENDED Charitable activities Project and workshop Govemance costs 426,057 426,057 259,031 925 925 350 Total resources expended 426,982 426,982 259,381 NET INCOMING RESOURCES 30,572 30,572 89,697 RECONCILIATION OF FUNDS Total funds brought forward Release restricted funds 174,314 174,314 94,617 (10,000) TOTAL FUNDS CARRIED FORWARD 204,886 204,886 174,314 Page 4
THE AYLESBURY YOUTH MOTOR PROJECT LTD BALANCE SHEET AS AT 31 MARCH 2025 2025 Totsl 2024 Total Funds Funds Funds Funds Notes FIXED ASSETS Tangible Assets 28,335 28,335 8,288 CURRENT ASSETS Stocks 2,000 30,897 170,828 203,725 2,000 30,897 170,828 203.725 2,000 11,505 163,373 176,878 Debtors Cash at Bank CREDrroRS Amounts falling due within one year 27,174 27,174 10,852 NET CURRENT ASSETS/(LIABILrriES) 176,551 176,551 166,026 NET ASSETSI(LIABILrriES) 204,886 204,886 174.314 FUNDS Funds 10 204,886 204,886 174,314 204,886 174,314 Page 5
THE AYLESBURY YOUTH MOTOR PROJECT LTD BALANCE SHEET- CONTINUED AS AT 31 MARCH 2025 These accounts have been prepared in accordance with the special provisions relating to small companles within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008) For the financial year ended 31 March 2025 the charitable company was entitled to exemption from audrt under section 477 (small company exemption) Companies Act 2006; and no notice has been deposited under section 476 (member or members requesting an audit). The directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with s. 386 [ofthe act] and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profft or loss for the financial year in accordan with the requirements of sections 394 and 395 and which otheiSe comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. The financial statements were approved by the Board of Trustees on .. behalf by. John James- Chairman Page 6
THE AYLESBURY YOUTH MOTOR PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with the Finanaal Reporting Standards for Smaller Entities (effective January 2007), the Companies Act 2006 and the requirements of the Statement of Recommended Practice. Accounting and Reporting by Charities. Incoming Resources All incoming resources are induded on the Statement of Financial Activities when the charity is legalty entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related to the category. Where costs cannot be directty attributed to particular headings that have been allocated to activities on a basis consistent with the use of resources. Tangible Fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its useful life: Plant and machinery etc - Straight line over 3 years and 4 yeaTS Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charitable adivibes. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restiictions arise when specified by the donor or when funds are Taed for particular restricted purposes. Further explanations of the nature and purpose of each fund is included in the notes to the financial statements. 2 ACTIVITIES FOR GENERATING FUNDS The tumover and profft/(loss) before taxation are attributable to the one principal ac*vity of the company. The profftl(loss) on ordinary activrties is stated after 2025 2024 Programme sales Wheels to Work Other income Room hire 319,901 239,422 93,131 98,986 413,032 338,408 Page 7
THE AYLESBURY YOUTH MOTOR PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 3 INVESTMENT INCOME 2025 2024 Deposit account interest 4 NET INCOMINGI(OUTGOING) RESOURCES Net resources are stated after chargin(CredItIng) 2025 2024 Depreclation - owned assets 10,738 4000 5 TRUSTEE'S REMUNERATION AND BENEFITS There were no trustee's remuneration or other beneffts for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustee's Expenses There were no trustee expenses for the year ended 31 March 2025 nor for the year ended 31 March 2024. 6 STAFF COSTS 2025 2024 Wages and salaries 193,861 135,515 7 TANGIBLE FIXED ASSETS Plant and Machinery COST At 1 April 2024 additions disposals At 31 March 2025 16,256 30,784 4,588 42,452 DEPRECIATION At 1 April 2024 charge for year disposals At 31 March 2025 7,968 10,738 4,588 14,118 NET BOOKVALUE At 31 March 2025 Page 8
THE AYLESBURY YOUTH MOTOR PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS UNAUDtTED FINANCIAL STATEMENTS YEAR ENDED 31 PaARCH 2025 8 DEBTORS 2025 2024 Trade do0 A(xrued Income PrepaYrnts 21.089 7,420 30,897 11 S05 9 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Bank overdraft Trade creditors Deferred income Taxation and social security Loans A(uuals Other creditors 21,819 6,382 4,955 4,070 400 400 27 174 10 852 10 MOVEMENT IN FUNDS At 31J.24 movement At 31.3.25 Unrestricted funds General fund 174,314 30.572 204.886 Restricted funds Student funding Overhead contribution Total funds Net movement in funds, included in the atK)ve are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fvnd Restricted fund 457,554 426,982 30,572 Total funds 457,554 426,982 30,572 Page 9