REGISTERED CHARITY NUMBER: 1110373
The Manchester Deaf Centre
Report and Financial Statements for the Year ended 31 March 2024
The Manchester Deaf Centre CIO
CONTENTS OF THE FINANCIAL STATEMENTS For the Year Ended 31[st] March 2024
Page Reference and Administrative Details 1 Report of the Trustees 2 - 8 Independent Examiner’s Report 9 Statement of Financial Activities 10 Balance Sheet 11 Statement of Cash flows 12 Notes to the Financial Statements 13 - 28
The Manchester Deaf Centre Reference and administrative information For the year ended 31 March 2024
Manchester Deaf Centre converted from a charitable company (Company House - 05277257) to a Charitable Incorporated ) (CIO) organisation on 21st August 2023.
| (CIO) organisaton on 21st August 2023. | |
|---|---|
| Charity number | 1110373 |
| Registered ofce & operatonal address | Crawford House, Booth Street East, Manchester, M13 9GH |
| Trustees | Trustees who served during the year and up to the date of this report were as |
| follows: | |
| John Wareham Chair | |
| Christos Argyropoulos Treasurer (appointed 21/8/2023) | |
| Alistair Wright | |
| Pauline Roberts | |
| Brian Kokoruwe | |
| Shelley Lanchbury | |
| Christopher Coles Appointed 4/12/2023 | |
| Bryony Parkes Appointed 4/12/2023 | |
| Madeline Robinson Appointed 12/10/2023, resigned 22/3/2023 | |
| Tina Kirwin-Mcginley Appointed 29/4/2024 | |
| Claire Baldwin Vice-chair (resigned 08/12/2023) | |
| Michael Doyle Treasurer (resigned 20/6/2023) | |
| Christne Wright Resigned 17thJune 2024 | |
| Secretary | Mark Woodall Claire Baldwin Appointed 11/12/2023 |
| Claire Holland Resigned 26/10/2023 | |
| Key management Personnel | Mark Woodall Senior Manager Claire Baldwin Senior Manager (appointed 11/12/2023) |
| Claire Holland Senior Manager (resigned 26/10/2023) | |
| Bankers | Co-operatve Bank |
| PO Box 250 | |
| Delf House | |
| Southway | |
| Skelmersdale | |
| WN8 6WT | |
| Independent Examiner | Leanne Nield ACA Arc Accountancy Solutons Limited |
| 51 Laverton Road | |
| Lytham St. Annes | |
| Lancashire | |
| FY8 1EN |
1
The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
Chair’s Annual Report, 2023-2024
I am pleased to present our Annual Report and financial information for the financial year, 2023-2024. Manchester Deaf Centre continues to create exceptional opportunities for all those that are part of and/or support the deaf/Deaf community in the last year!
As stated in this report, our employees and volunteers have continued to demonstrate their capacity to sustain our crucial support service delivery to hard of hearing, Deaf, Deafblind, and deafened citizens of Manchester and the surrounding areas, many of whom are experiencing multiple barriers in addition to their deafness. This is achieved through various engagement provisions, for example: information, advice and advocacy support; wellbeing activities, employment support and skills training, and children and young people services.
We have also supported the hearing community by delivering high quality Deaf Awareness and British Sign Language training so that they may be more inclusive and accessible. Our BSL interpreter booking service continues to grow.
All of our services are delivered by staff who are skilled deaf communicators by skilled deaf aware staff who are proficient in British Sign Language or with the assistance of qualified, experience and NRCPD-registered BSL Interpreters and communication professionals according to service-user communication needs and preferences, online or face to face. We are proud to be deaf-led, and that the majority of the staff team have lived experience of deafness.
There are many reasons to be encouraged; the Board of Trustees has worked extremely hard to ensure the governance and leadership of the Centre is making a difference. We have recently changed our legal status from a Company Limited by Guarantee to become a Charitable Incorporated Organisation (CIO). The Board continues to support the many activities we deliver to improve people’s lives, where everyone at the Centre, and those that are delivering activities on our behalf, are doing their best to make sure no-one is left without someone or something to address their quality-of-life issues. An example of our high standards can be demonstrated by our successfully achieving the ‘Trusted Charity Mark’ over the last year.
Our success would not be possible without the collective support from our members, volunteers, staff and supporters, including our many funders.
We will continue to work as hard as we can to ensure the Manchester Deaf Centre grows over the coming years.
John Wareham, Chair of Trustees, The Manchester Deaf Centre
p.s. Please apply to become a member of Manchester Deaf Centre; it is open to all who wish to support this wonderful organisation.
2
The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
The trustees present their report and the unaudited financial statements for the year ended 31[st ] March 2024. Reference and administrative information are set out on page 1 which forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Our History
The Manchester Deaf Institute was established in 1846, becoming the Manchester Deaf Centre (MDC) in 1990. MDC is the leading provider of services for deaf, deafened, hard of hearing and partial hearing people in Manchester and beyond and for those visiting Manchester to access hospitals and other services. MDC also has long established connections with other deaf centres and providers throughout the region.
Our services for deaf people which include: an employment service, youth service, community bar & cafe, volunteering scheme, Social Club, tinnitus group, sign and play pre-school group, mental health & well-being group and interpreting service. We have fully trained and qualified staff, along with established systems and procedures for the management of funded services.
We have a long history and understanding of meeting the needs of deaf/Deaf people through a variety of tailored services and methodologies. We are well placed for the provision of professional communication support services incorporating BSL (British Sign Language), (SSE) Sign Spoken English, Deaf-blind interpreters, Lip-speakers, Electronic Note-takers and SSTRs (Speech to Text Reporter).
MDC Services
Manchester Deaf Centre is at the heart of Greater Manchester’s D/deaf and hard of hearing community. We are a hub for inclusion, advocacy, accessibility, support, training and information. At MDC, we are proud to provide a range of services that support and empower the community of which we are part.
Our main service offerings are:
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Wellbeing, Advocacy, IAG, Training, Enterprise and Employment (WAITE)
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Children and Young People
-
Our Courses and Interpreter Services
We are also proud to provide qualified and NRCPD-registered BSL/English Interpreters as means of breaking down access barriers between D/deaf and hearing people and enabling D/deaf citizens of our city region to access presently exclusive organisations spanning the public, private and not-for-profit sectors, enjoy amenities and benefit from services on an equitable basis. We are also honoured that many national organisations such at National Literacy Trust and National Deaf Children’s Society have chosen us as their venue to host their meetings in Manchester.
Courses for Public Benefit
The number of people who are learning BSL with us continues to grow year on year. We have delivered BSL courses to nearly 250 students across Greater Manchester, and worked with nearly 30 organisations such as Network Rail, The Christie and the Premier League to deliver corporate training. We have worked in partnership with Manchester Adult Education Service to offer free BSL courses for Manchester residents.
3
The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
Through the year, we delivered:
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(i) Deaf Awareness Training to organisations keen to extend their learning, begin to review and improve their operating procedures.
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(ii) Introduction to British Sign Language courses to organisations locally who were keen to extend their accessibility and reach;
(iii)Inclusive Employment and Access to Work courses
(iv)Driving Theory Training (in BSL); and
(v) Adult Skills BSL Course (CLF) Funded courses for Manchester residents.
Governance, People and Operations
The trustees review the aims, objectives and activities of the charity each year.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
Governing document
Manchester Deaf Centre was established in 1846 as Adult Deaf and Dumb Institute. The original constitution was adopted in 1866. It changed its name in 1990 to Manchester Deaf Centre. The Deaf Centre moved from Grosvenor Street in 1975 to its present premises in Crawford House, Booth Street East. The Deaf Centre became an incorporated charity on 3 October 2005, having previously been an unincorporated charity no. 221247. Recently, 17th October 2023, The Manchester Deaf Centre adopted a new Charitable Incorporated Organisation (CIO) governing document, and changed its legal status to that of a CIO.
Charity status
The charity is a Charitable Incorporated Organisation (CIO) and all members have agreed to contribute a sum not exceeding £10 in the event of a winding-up.
Governance
Our organisation is proudly governed by a diverse Board of Trustees who are predominantly from the Deaf/deaf/deafened/hard of hearing community. Allied with the skills of deaf staff members with which we work, their experiences of work and life make for authentic, grounded direction respectful of and responsive to need across the hard of hearing, D/deaf and deaf blind communities of Manchester and the wider city region. Theirs is a shared job of leading organisational and service development within the bounds set by our charitable objectives.
Trustees
Manchester Deaf Centre continues to be led by a Board of Trustees who are mainly Deaf/deaf/deafened /hard of hearing. The Trustees bring invaluable lived experience to their work and help with strategic direction-setting, service and operational oversight, financial management and the assurance of legal compliance. Around the table, we have expertise from a range of professionals to help galvanise the Board for the future challenges and opportunities to which the organisation must respond to the groups of interest and social identity we serve, right across Greater Manchester’s hard of hearing, D/deaf and deafened community, continue to plot a forward path to brighter futures.
Staffing
Manchester Deaf Centre employed 25 staff this year, our BSL/CPD provision, specialist advocacy teams, and Children & Young People’s Service teams seeing particular growth.
4
The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
New Senior Manager - Claire Holland resigned and Claire Baldwin was appointed.
We reviewed our income generation positions and restructured accordingly. Roles were established based on business requirements. Two employees voluntarily accepted redundancy, and two new staff members were appointed. The new roles introduced were Administrative Support and Centre Manager.
We relaunched our Children and Young People’s Services providing social and educational activities for deaf young people aged 0-24 and their families. We conducted a review of our children and youth services, leading to the restructure of the roles and responsibilities of youth workers. Additionally, we have recruited a new administrative staff member and two sessional workers to support delivery.
Two staff members were selected and agreed to work additional hours for the Manchester Adult Skills (CLF) project.
Operations
We are pleased to announce that we have successfully secured the tender for the NHS Stockport Interpreting contract, and we will be managing it for the next three years.
Stockport Council will soon be releasing a tender for the BSL interpreters’ contract, which we intend to apply for. In the meantime, we will continue providing the service as an extension.
Throughout the year, we achieved several successes in grant applications, as detailed in other sections of these accounts. Strengthening our staff team allowed us to actively pursue new contracts, thereby diversifying the income streams of Manchester Deaf Centre.
The combined efforts of Trustees, Senior Management, staff, and volunteers have been instrumental in maintaining the operations of MDC. As a result of their hard work, we are now in the best financial position we have experienced in several years.
Volunteers
We are particularly thankful for the dedication and hard work of our volunteers who have remained committed and continue to support our organisation.
OMVCS has made changes to their funding, and we are thrilled to announce that we have successfully secured three years of funding from them. This funding can be allocated to any area of MDC, and without it, it would have been challenging to sustain some of our crucial services.
We continue to support our volunteers, through our Centre Manager, to quality assure experiences, increase MDC’s volunteer retention rates and the return realised on our investment of time and money in supervision and training.
We are dedicated to supporting our volunteers through our Centre Manager, ensuring the quality of their experiences, enhancing MDC's volunteer retention rates, and maximising the returns on our investments in supervision and training.
Partnership working
We continue to take the opportunity of representing hard of hearing, D/deaf and deafened citizens of the city and surrounding areas on a number of public service and policy groups, hopeful of influencing and informing change to level things up for a cohort too often cut-out or forgotten hence the disproportionately poor outcomes too often realised in all areas of life outcomes such as education, employment, health and housing.
7
The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
Ensuring that hard of hearing, D/deaf and deafened people have a voice in decision-making around the city. This is very important of course if we are to play our part in ensuring that hard of hearing, D/deaf and deafened people can move freely in and out of services and systems, enjoy good healthcare and leisure opportunities, access and interact with the public realm and local amenities on an equitable basis. However, the landscape-shaping to the detriment of organisational wellbeing and core service impact is a risk we have continued to guard against.
Financial review
In the year reserves totals £193,859. This is broken down by the following:
-
£73,031 restricted funds, required to be spent on restricted projects;
-
£(133,104) general unrestricted funds. This has become a negative fund balance due to the pension exit provision payment of £232,880 at present value incurred during the year which is expected to be paid back over 10 years. Included within general unrestricted funds there are net current assets of £38,624 available to be spent on any purpose the trustees deem necessary in order to further the charity’s aims and objectives;
-
£253,932 is the value of the property enhancements from the 2010/11 property refurbishment, rather than funds available to spend. This reserves balance is being reduced over the remaining lease life by the depreciation charge.
Pensions
Manchester Deaf Centre has now addressed the Greater Manchester Pension Fund issue, relating to an agreement around clearing the membership cessation charge triggered on the leaving of a staff member from the organisation in Autumn 2019. Manchester City Council (as our Local Government Pension Scheme Guarantors), have provided a subsumption agreement where we repay them the sum owed, over 10 years. We thank the City Council for their continued support.
Grants
MDC continues to apply for grant funding and to pursue additional contracts. We have revised our business plan and the Board and staff are unified on the importance of sustaining our service provision and forging ahead. We are hopeful that hard of hearing, D/deaf and deafened people can work with us to shape and execute our plans and a Needs Analysis, working in partnership with others, has been completed.
Reserves policy
The Board of Trustees has established a policy whereby they seek to hold sufficient reserves to continue the current activities in the event of a drop in funding and earned income for 6 months (approximately £200,000 covering staff and general running costs). We continue to assess this process, and in the coming year, we will be introducing a range of funding strategies to assist us in achieving the target.
Risk management
The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks. For example, in the event that we do not raise sufficient funds to cover our operating costs, we will be required to reduce our expenditure by curtailing operational activities and as such, reduce the workforce to match this.
In summary
This year has been a very successful one for Manchester Deaf Centre, we found ways of doing things differently and assisting in people’s hour of need; we continued to provide a sustained service provision to as full an extent as possible and performed our utmost for those we are here to serve.
7
The Manchester Deaf Centre Trustees annual report
For the year ended 31 March 2024
The hard of hearing, D/deaf and deafened communities we serve will need our organisation’s support more than ever to ensure that their needs are addressed, provide positive traction as the wider economy and bigger picture society strive to put their pieces together again.
We continue to be well-placed to help working age adults recover mental and physical health, financial stability, career and/or enterprise planning. We continue to ensure that we make our services at MDC accessible where we reach out creatively and with compassion. Our starting point for every encounter and intervention, no matter whether we are speaking with children and young people, long distanced from their friends or older people isolated, afraid and in poor health, is that we must adapt and innovate within the financial constraints that we have.
We will work and take inspiration from all those that have gone before us and worked so hard to develop a responsive organisation impacting so positively on the lives of so many!
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The Manchester Deaf Centre Trustees annual report For the year ended 31 March 2024
Statement of responsibilities of the trustees
The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources, including the income and expenditure, of the CIO for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the relevant legislation. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the CIO’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees’ annual report has been approved by the trustees on …………………… and signed on their behalf by:
John Wareham
Chair
8
Independent examiner’s report To the trustees of The Manchester Deaf Centre
I report to the charity trustees on my examination of the accounts of The Manchester Deaf Centre for the year ended 31[st ] March 2024 which are set out on pages 10 – 28.
Responsibilities and basis of report
As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2006 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales (ICAEW) which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
As part of my examination, I have reviewed the charity’s budgets and financial projections. Based on this review, I have identified projected net asset losses forecasted for the upcoming year. This raises some concerns about the charity’s ability to continue as a going concern. I have discussed these concerns with the trustees, who are aware of the issues and are taking steps to address them. While the trustees are actively working on mitigating these challenges, some uncertainties remain that could potentially impact the charity’s financial stability and may cast doubt on the charity’s ability to continue as a going concern.
I have no further 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.
Leanne Nield ACA Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes Lancashire FY8 1EN
Date: ........................................
9
The Manchester Deaf Centre Statement of Financial Activities For the year ended 31 March 2024
| Note Income from: Donatons and legacies 2 Charitable actvites 3 Other trading actvites 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable actvites 7 Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net income/(expenditure) on investments Unrealised gains/(losses) on investments 15 Net income/(expenditure) for the year Transfer between funds Net movement in funds for the year Reconciliaton of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds £ 7,281 507,465 54,056 2,136 570,938 6,751 789,280 796,031 (225,093) (3,024) - (228,117) (100) (228,217) 349,045 120,828 |
Restricted funds £ - 132,080 - - 132,080 439 247,128 247,567 (115,487) - - (115,487) 100 (115,387) 188,418 73,031 |
Total funds 2024 £ 7,281 639,545 54,056 2,136 703,018 7,190 1,036,408 1,043,598 (340,580) (3,024) - (343,604) - (343,604) 537,463 193,859 |
Total funds 2023 £ 3,148 779,171 57,184 256 |
|---|---|---|---|---|
| 839,759 | ||||
| 4,949 748,730 |
||||
| 753,679 | ||||
| 86,080 (6,299) 2,661 |
||||
| 82,442 - |
||||
| 82,442 455,021 |
||||
| 537,463 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
10
The Manchester Deaf Centre Balance Sheet
as at 31 March 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Tangible assets | 14 | 327,999 | 333,247 | |||
| Investments | 15 | - | - | |||
| Total fixed assets | 327,999 | 333,247 | ||||
| Current assets | ||||||
| Stock | 542 | 396 | ||||
| Debtors | 16 | 86,002 | 137,412 | |||
| Cash at bank and in hand | 103,328 | 206,511 | ||||
| Total current assets | 189,872 | 344,319 | ||||
| Liabilities | ||||||
| Creditors: amounts falling due in less | ||||||
| than one year | 17 | (78,217) | (80,053) | |||
| Net current assets | 111,655 | 264,266 | ||||
| Total assets less current liabilities | 439,654 | 597,513 | ||||
| Creditors: amounts falling due after | ||||||
| more than one year | 18 | (12,915) | (60,050) | |||
| Provisions for liabilities | 19 | (232,880) | - | |||
| Net assets | 193,859 | 537,463 | ||||
| The funds of the charity: | ||||||
| Restricted income funds | 20 | 73,031 | 188,418 | |||
| Unrestricted income funds | ||||||
| General fund | 21 | (133,104) | 86,922 | |||
| Refurbishment General fund | 21 | 253,932 | 262,123 | |||
| Total charity funds | 193,859 | 537,463 |
For the year ending 31 March 2024, the CIO was entitled to exemption from audit and are as such have been independently examined.
Trustees’ responsibilities:
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to the accounting records and the preparation of accounts.
The notes on pages 13 to 28 form part of these accounts.
Approved by the trustees on ……………………………….. and signed on their behalf by: ……………………………………………. Christos Argyropoulos (Treasurer) (bem Beas
11
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
| Note Cash provided by/(used in) operatng actvites 24 Cash fows from investng actvites: Dividends, interest and rents from investments Purchase of tangible fxed assets Proceeds from the sale of investments Cash provided by/(used in) investng actvites Cash fows from fnancing actvites: Repayment of borrowing Cash infows from new borrowing Cash provided by/(used in) fnancing actvites Increase/(decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2024 £ (13,184) 2,136 (19,400) - (17,264) (72,735) - (72,735) (103,183) 206,511 103,328 |
2023 £ 20,826 |
|---|---|---|
| 256 (2,159) 16,434 |
||
| 14,531 | ||
| (36,687) - |
||
| (36,687) | ||
| (1,330) 207,841 |
||
| 206,511 |
12
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a Basis of preparation
The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102) '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 (FRS102) (effective 1 January 2019). The financial statements have been prepared under the historical cost convention.
b Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the CIO’s ability to continue as a going concern.
c Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, which are described below, the Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimated is revised if the revision affects only that period, or in the period and future periods if the prevision affects the current and future periods.
In the view of the trustees, critical judgements and estimates have been in respect of: the provision of the pension exit payment, shown at net present value. The trustees have determined that any differences arising between actual amounts realised upon sale and fair value estimates will have no impact on the Charity’s ability to continue as a going concern.
d Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probably that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
14
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
1. Accounting policies (continued)
e Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the tutees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
f Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
g Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work of for specific projects being undertaken by the charity.
h Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise the costs of commercial trading and their associated support costs.
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Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
i Operating leases
Operating leases are leases in which the title to the assets, and the substantial risks and rewards of ownership, remain with the lessor. Given the title of the Deaf Centre property, along with the substantial risks and rewards of ownership, remain with the Manchester University, this property lease is classified as an operating lease. Rental charges are charged on a straight-line basis over the term of the lease, at an annual rent of £nil. A service charge is payable to the university. A sum of £12,500 was paid in 1974 and expensed as a direct upfront cost. Given a £nil annual rent, no future minimum lease payments are to be disclosed.
14
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
1. Accounting policies (continued)
j Tangible fixed assets
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Asset Category | Annual rate |
|---|---|
| Propertylease | Period of lease to 24.06.2074 |
| Ofce furniture & equipment | 5years |
| Computer equipment | 3years |
| Website | 5years |
| Propertyimprovements | Period of lease to 24.06.2074 |
k Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the at ude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
l Stock
Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
m Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade deposit or similar account.
n Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
15
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
1. Accounting policies (continued)
o Creditors and provision
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
p 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.
q Pensions
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme with NEST. The charity’s contribution to this scheme were £5,987 (2023: £5,620). There were £1,450 (2023: £nil) outstanding contributions at the year end.
MDC’s membership has ceased with the Greater Manchester Pension Fund, giving rise to an exit payment of £284,000 liable to Manchester City Council (MCC) who have agreed to subsume MDC’s deficit into its pool and enable MDC to pay this back to them over a period of 10 years. Negotiation terms with MCC are still ongoing surrounding the repayment pattern, and therefore a provision has been recognised in these financial statements due to the uncertainty regarding the timing of the payments.
r Legal status of the charity
The charity is a Charitable Incorporated Organisation (CIO) and all members have agreed to contribute a sum not exceeding £10 in the event of a winding-up. The registered office address is disclosed on page 1.
1 Income from donations and legacies
| Donatons Legacies Total |
2024 £ 7,281 - 7,281 |
2023 £ 3,148 - |
|---|---|---|
| 3,148 |
All donations and legacies income is unrestricted.
16
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
2 Income from charitable activities
Current reporting period:
| Grants Accredited and non-accredited courses Interpreter services Other charitable services Total Previous reportng period: Grants Accredited and non-accredited courses Interpreter services Other charitable services Total |
Unrestricted £ 62,927 109,233 331,349 3,956 507,465 Unrestricted £ 52,550 94,255 321,712 13,492 482,009 |
Restricted £ 131,997 - - 83 132,080 Restricted £ 297,024 (75) 213 - 297,162 |
Total 2024 £ 194,924 109,233 331,349 4,039 |
|---|---|---|---|
| 639,545 | |||
| Total 2023 £ 349,574 94,180 321,925 13,492 |
|||
| 779,171 |
4 Income from other trading activities
| Room Hire Bar and Café Sales Total |
2024 £ 52,924 1,132 54,056 |
2023 £ 53,450 3,734 |
|---|---|---|
| 57,184 |
All income from other trading activities in the current and prior year is unrestricted.
5 Investment income
| Income from bank deposits and dividends Total |
2024 £ 2,136 2,136 |
2023 £ 256 |
|---|---|---|
| 256 |
All investment income in the current and prior year is unrestricted.
17
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
6 Cost of raising funds
| Cost of raising funds | ||||
|---|---|---|---|---|
| Administraton Cost of goods sold Total |
Unrestricted 2024 £ 5,856 895 6,751 |
Restricted 2024 £ - 439 439 |
2024 £ 5,856 1,334 7,190 |
2023 £ 3,562 1,387 |
| 4,949 |
All expenditure on cost of raising funds in the prior year was unrestricted.
7 Analysis of expenditure on charitable activities
Current reporting period:
| Staf costs* Contractors Premises Administraton Project costs Depreciaton Loss on disposal of fxed assets Governance costs (see note 8) |
MDC Core work (including core grants and courses) £ 409,900 11,439 33,958 24,260 - 23,930 718 5,993 510,198 |
Grant funded projects £ 169,750 21,754 11,650 26,694 15,433 - - 1,847 247,128 |
Interpreter Services £ 22,906 254,628 - 1,548 - - - - 279,082 |
Total 2024 £ 602,556 287,821 45,608 52,502 15,433 23,930 718 7,840 |
|---|---|---|---|---|
| 1,036,408 |
* includes a pension exit payment provision of £232,880 (see note 19)
18
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
7 Analysis of expenditure on charitable activities (continued)
| Previous reportng period: Staf costs Contractors Premises Administraton Project costs Depreciaton Governance costs (see note 9) Restricted expenditure Unrestricted expenditure |
MDC Core work (including core grants and courses) £ 139,202 40,518 36,669 20,614 78 21,465 7,868 266,414 |
Grant funded projects £ 110,284 10,513 2,062 19,848 52,526 - 23,088 218,321 |
Interpreter Services £ 14,325 249,106 - 564 - - - 263,995 2024 £ 247,128 789,280 1,036,408 |
Total 2023 £ 263,811 300,137 38,731 41,026 52,604 21,465 30,956 748,730 2023 £ 218,321 530,409 |
||
|---|---|---|---|---|---|---|
| 748,730 |
8 Analysis of governance
| Trustee and AGM expenses Accountancy and independent examinaton Legal and professional Total |
Unrestricted 2024 £ - 3,906 2,087 5,993 |
Restricted 2024 £ - 673 1,174 1,847 |
2024 £ - 4,579 3,261 7,840 |
2023 £ - 5,676 25,280 |
|---|---|---|---|---|
| 30,956 |
9 Details of certain types of expenditure
Fees for examination of the accounts:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| en | dent examiner’s fee | ||
| - | Independent examinaton | 3,200 | 4,110 |
| - | Other | 218 | 51 |
Independent examiner’s fee
19
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
10 Staff costs
Staff costs during the year were as follows:
| Wages and salaries Social security costs Pension costs Pension exit payment costs* |
2024 £ 344,362 19,326 5,988 232,880 602,556 |
2023 £ 249,053 10,549 4,210 - |
|---|---|---|
| 263,811 |
* see provision note 19
No employee has employee benefits in excess of £60,000 (2023: NIL).
The average number of staff employed during the period was 22 (2023: 18).
The key management personnel of the charity comprise the Trustees and two Senior Managers (2023: the Trustees and two Senior Managers).
The total employee benefits of the key management personnel of the charity were £64,640 (2023: £56,813).
11 Trustee remuneration and expenses, and related party transactions
Neither the Board of Trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2023: NIL).
Two members of the Board of Trustees received travel and subsistence expenses during the year totalling £55 (2023: £39).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2023: NIL).
12 Government grants
The government grants recognised in the accounts received from statutory agencies were as follows:
| Manchester City Council Salford CVS Traford Council GMMH |
2024 £ 85,229 - 2,500 - 107,729 |
2023 £ 184,556 2,750 15,000 2,949 |
|---|---|---|
| 205,255 |
20
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
13 Corporation tax
The charity is exempt from tax on income and gains failing within Chapter 3 of Part 11 of the Corporation Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
14 Fixed assets: tangible assets
| Leasehold improvements* |
Ofce equipment |
Fixtures & ftngs |
Websit e |
Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| Cost | £ | £ | £ | £ | £ | ||||
| At 1 April 2023 | 594,223 | 50,697 | 40,312 | 54,000 | 739,232 | ||||
| Additons | - | 19,400 | - | - | 19,400 | ||||
| Disposals | (10,754) | (10,754) | |||||||
| At 31 March 2024 | 594,223 | 59,343 | 40,312 | 54,000 | 747,878 | ||||
| Depreciaton | |||||||||
| At 1 April 2023 | 278,616 | 49,258 | 40,311 | 37,800 | 405,985 | ||||
| Charge for theyear | 9,945 | 3,184 | 1 | 10,800 | 23,930 | ||||
| Disposals | (10,036) | (10,036) | |||||||
| At 31 March 2023 | 288,561 | 42,406 | 40,312 | 48,600 | 419,879 | ||||
| NBV at 31 March 2024 | 305,662 | 16,937 | - | 5,400 | 327,999 | ||||
| NBV at 31 March 2023 | 315,607 | 1,439 | 1 | 16,200 | 333,247 |
15 Investments
| Market value at the start of the year Disposals at carrying value Add net gain/(loss) on revaluaton Investments at fair value comprised: COIF Charites Investment Fund |
2024 £ - - - - - - |
2023 £ 13,773 (16,434) 2,661 |
|---|---|---|
| - | ||
| - | ||
| - |
Investments are all carried at fair value and are all traded in quoted public markets.
16 Debtors
| Trade debtors Prepayments and accrued income |
2024 £ 58,937 27,065 86,002 |
2023 £ 37,965 99,447 |
|---|---|---|
| 137,412 |
21
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
17 Creditors: amounts falling due within one year
| Loan - Futurebuilders - First Ark - Co-op Trade creditors Other creditors and accruals Taxaton and social security costs Creditors: amounts falling due afer more than one year Loan - Futurebuilders - First Ark - Co-op Repayable afer more than 5 years by instalments |
2024 £ - - 10,332 36,193 24,396 7,296 78,217 2024 £ - - 12,915 12,915 - |
2023 £ 12,967 9,999 9,942 26,292 15,571 5,282 |
|---|---|---|
| 80,053 | ||
| 2023 £ 31,524 5,310 23,216 |
||
| 60,050 | ||
| - |
18 Creditors: amounts falling due after more than one year
The loan from Futurebuilders (Social Enterprise Investment Fund) was repayable over 15 years with interest charged at 6% for the first 3 years and no more than 5% over base for the remainder of the term. It was unsecured and did not attract early repayment penalties. This was fully paid off in the year.
The loan from First Ark Social Investment was repayable over 5 years with interest charges at 7.5% APR. It was unsecured and did not attract early repayment penalties. This was fully paid off in the year.
The loan from Co-op is repayable over 6 years with an interest charge of 2.5% per annum. No repayments were required for the first 12 months.
19 Provisions for liabilities and charges
| Balance at the start of the reportng period Amounts added in current period Amounts charged against the provision in the current period Unused amounts reversed during the period Balance at the end of the reportng period |
2024 £ - 232,880 - - 232,880 |
2023 £ - - - - |
|---|---|---|
| - |
22
19
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
Provisions for liabilities and charges (continued)
During the year, the charity incurred an obligation for an exit payment of £284,000 related to its departure from the Greater Manchester Pension Fund (GMPF). This amount has been recognised as a provision due to the uncertainty regarding the timing of the payments. However, the most likely outcome will be a monthly repayment schedule over 10 years. The provision has been calculated based on the best estimate of the present value of the future outflows, considering a discount rate of 4.08% per annum. This rate reflects the rate at which the charity could borrow funds over a similar 10 year term with similar security.
The expected settlement period of the provision is as follows:
-
Within 1 year: £27,782
-
Between 1 and 5 years: £100,474
-
Beyond 5 years: £104,624
20 Analysis of movements in restricted funds
Current reporting period
| Trusted Charity Mark Inclusion Natonal Lotery (Leaders with Lived Experience) CYPS Youth Fund (Young Manchester), Youth & Childrens Work Young Manchester DASA Jubilee – Forever Manchester Salford Trusted Voices Traford Council/Partnership Cooperatve and Mutual Solutons Limited Eric Wright Fund WAITE project |
Balance at 1 April 2023 £ 3,636 3,000 25,412 66,303 4,526 7,762 22,148 7,628 2,500 4,705 5,121 484 35,193 188,418 |
Income £ - 1,802 - 51,452 - - - - - 22,500 7,293 - 49,033 132,080 |
Expenditure £ (3,636) (3,980) (25,412) (80,000) (3,711) - (22,080) (7,628) (2,500) (17,019) (4,087) (484) (77,030) (247,567) |
Transfers £ - - - 100 - - - - - - - - - 100 |
Balance at 31 March 2024 £ - 822 - 37,855 815 7,762 68 - - 10,186 8,327 - 7,196 |
|---|---|---|---|---|---|
| 73,031 |
23
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
20 Analysis of movements in restricted funds (continued)
Previous reporting period
| Trusted Charity Mark Inclusion Natonal Lotery (Leaders with Lived Experience) Cinderella Fund CYPS Youth Fund (Young Manchester), Youth & Childrens Work Get On BBC I Can Project Young Manchester DASA Jubilee – Forever Manchester Salford Innovaton Salford Trusted Voices Traford Council/Partnership GMCVO Community Cooperatve and Mutual Solutons Limited Eric Wright Fund WAITE project |
Balance at 1 April 2022 £ 20,000 - 42,573 2,492 - 815 (2,942) 6,638 7,762 - - 3,235 - 1,910 305 8,118 501 23,015 114,422 |
Income £ 20,000 3,000 - - 66,453 3,711 - 39,780 - 30,000 10,000 - 2,500 15,000 - 214 - 106,504 297,162 |
Expenditure £ (33,177) - (17,161) - (150) - - (43,939) - (7,852) (2,372) (3,940) - (12,205) (305) (3,211) (17) (94,326) (218,655) |
Transfers £ (3,187) - - (2,492) - - 2,942 (2,479) - - - 705 - - - - - - (4,511) |
Balance at 31 March 2023 £ 3,636 3,000 25,412 - 66,303 4,526 - - 7,762 22,148 7,628 - 2,500 4,705 - 5,121 484 35,193 |
|---|---|---|---|---|---|
| 188,418 |
| Name of restricted fund |
Descripton, nature andpurposes of the fund |
|---|---|
| Youth Fund (Young Manchester/DAVE), Youth & Children |
Funding for projects to enhance life skills, Youth Club and playschemes during school holidays. |
| Salford Innovaton Fund, Salford NHS CCG |
Grant to cover the cost of developing a brand new service intended to (i) increase the accessibility of and take-up health care services for hard of hearing and deaf people in Salford with a view to countering health inequalites; (ii) open-up opportunites of the deaf community’s partcipaton in contnuing service development and improvement fora; and (iii) enable and promote self-advocacy and self-help. |
| Traford Council/Partnership |
Advocacy support funding for hard of hearing and deaf residents of Traford seeking to redress injustces in the system, beter their day-to-day experiences, broaden horizons and improve their future life chances. |
| Natonal Lotery (Leaders with Lived Experience) |
Covering a programme of professional development, governance and leadership quality assurance work with the Board of Trustees, and the creaton of a new Youth Board giving young hard of hearing, Deaf and deafened citzens of Manchester and the surrounding areas (prospectve trustees of the future) a voice in strategic directon-setngand decision making. |
24
The Manchester Deaf Centre Statement of Cash Flows For the year ended 31 March 2024
20 Analysis of movements in restricted funds (continued)
| Eric Wright Fund | Funding from the Eric Wright Charitable Trust has enabled staf training in safeguarding, frst aid and mental health frst aid; also in advocacy and volunteer management. Manchester Deaf Centre volunteers have benefted from training in food hygiene too and, post-lockdown/covid restrictons, we have more volunteer training planned – inclusive community walk leadership and sports leadership; impact assessment evaluaton and improvementplanningcompetencies. |
|---|---|
| BBC I Can | Programmes of work growing aspiraton, employment and enterprise readiness among HoH/D/deaf young people and building employers’ capacity for HoH/D/deaf inclusion in parallel/a progression pathway. The former spans Manchester, Bolton, Salford and Traford; the later is centred on Manchester and open only to NEET young people aged 16-24. |
| Trusted Charity Mark | In collaboraton with other Disabled Peoples Organisatons (DPO) – fund to improve quality and consistency of monitoring and data collecton, strengthening partnerships and for each DPO to achieve the Trusted CharityMark. |
| WAITE project | Funding given by the Natonal Lotery Community Fund’s Reaching Communites Programme enables Manchester Deaf Centre’s delivery on wellbeing, advocacy, IAG, training, employment and social services across Greater Manchester, each targeted a hard of hearing, deaf and deafened people across the country – and provided in Britsh Sign Language to ensure the Sign Language or with appropriate communicatons support to ensure that theyare fullyaccessible and inclusive. |
| Get On | Given by the Future Workforce Fund, administrated by the Prince’s Trust, our Get on grant is enabling Deaf Centre delivery on a targeted programme of work for NEET (and hard of hearing, Deaf or deafened) young people from Bolton, Manchester, Salford Stockport and Traford – building their social and cultural awareness, confdence, skills for life and work; providing employment, further educaton and training insights through supported placements; and encouraging educaton/training providers and employers alike to grow their capacity for equitable Deaf inclusion forprospectve employees of the future. |
| Young Manchester | Funds towards school holiday actvity programmes and universal youth service providers’ capacity-building across the city with a view to opening up a range of additonal opportunites for both informal and accredited learning, indoor and outdoor recreaton,community partcipaton and social acton. |
| Cooperatve and Mutual Solutons Limited |
Funding to establish a support group for Deaf Ex-Ofenders. |
| Cinderella Fund | The Cinderella Fund grant gifed by the Charity Service is towards a residental weekend; an outdoor educaton programme for young people accessing our DAVE (Deaf Actve VolunteeringExperience)Group. |
| GMCVO Community Champions |
Funding to help deliver improvement on breaking down communicatons barriers by havingworkshops,creatngaccessibleposters and videos,and one to one support. |
| Inclusion grant | Working with Bolton Deaf Society and Walthew House (Stockport’s Centre for the Deaf and Blind). Forming a steering group of deaf representatves from each organisaton, we will engage with deaf people throughout Greater Manchester regarding barriers to access/inclusion in mainstream services/setngs that support health and wellbeing, reportng to/visitng stakeholders to advise on what improvements could be made toprovide inclusive access. |
| CYPS | Grants received specifcally for providing services to the deaf community of children andyoung people. |
25
20 Analysis of movements in restricted funds (continued)
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
| DASA | Liaising with local domestc abuse, homelessness and refuge services, developing an efectve referral system that is accessible to deaf people, collaboratng with other organisatons in improving their services to make them more deaf aware by providing Deaf Awareness courses. Strengthening the services we currently provide to the Wellbeing group and enhancing awareness of DA, Hate Crime, safeguarding and Self Care. |
|---|---|
| Jubilee – Forever Manchester |
A project to create a visual Mural of the Queen’s Jubilee incorporatng Britsh Sign Language, hold an event to celebrate the Queen’s Platnum Jubilee and provide arts skills workshops for our Wellbeing group. |
| Salford Trusted Voices | To promote access and inclusion for deaf people in wider society and provide services to support deafpeople overcome dailybarriers. |
21 Analysis of movement in unrestricted funds
Current reporting period
| General fund Refurbishment fund Prior reportng period General fund Refurbishment fund |
Balance at 1 April 2023 £ 86,922 262,123 349,045 Balance at 1 April 2022 £ 70,285 270,314 340,599 |
Income and gains £ 570,938 - 570,938 Income and gains £ 545,258 - 545,258 |
Expenditure and losses £ (790,864) (8,191) (799,055) Expenditure and losses £ (533,132) (8,191) (541,323) |
Transfers £ (100) - (100) Transfers £ 4,511 - 4,511 |
As at 31 March 2024 £ (133,104) 253,932 |
|---|---|---|---|---|---|
| 120,828 | |||||
| As at 31 March 2023 £ 86,922 262,123 |
|||||
| 349,045 |
Refurbishment fund Fund to cover depreciation costs associated with refurbishing the building in 2010/11.
26
The Manchester Deaf Centre Statement of Cash Flows
For the year ended 31 March 2024
22 Analysis of net assets between funds
Current reporting period
| Tangible fxed assets Investments Net current assets/(liabilites) Creditors of more than one year Provisions for liabilites Total Previous reportng period Tangible fxed assets Investments Net current assets/(liabilites) Creditors of more than one year Total |
General fund £ 74,067 - 38,624 (12,915) (232,880) (133,104) General fund £ 71,124 - 74,152 (60,050) 85,226 |
Designated funds £ 253,932 - - - - 253,932 Designated funds £ 262,123 - - - 262,123 |
Restricted funds £ - - 73,031 - - 73,031 Restricted funds £ - - 190,114 - 190,114 |
Total £ 327,999 - 111,655 (12,915) (232,880) |
|---|---|---|---|---|
| 193,859 | ||||
| Total £ 333,247 - 264,266 (60,050) |
||||
| 537,463 |
23 Financial instruments
Financial instruments measured at amortised cost comprise the loan financing provided by the Social Enterprise Investment Fund, First Ark Social Investment and Co-op to the charity.
| Loan payable falling due within one year Loan payable falling due in more than one year but in less than fve years Loan payable falling due afer fve years |
2024 £ 10,332 12,915 - 23,247 |
2023 £ 32,908 60,050 - |
|---|---|---|
| 92,958 |
The loan from Futurebuilders (Social Enterprise Investment Fund) was repayable over 15 years with interest charged at 6% for the first 3 years and no more than 5% over base for the remainder of the term. It was unsecured and did not attract early repayment penalties. This was fully paid off in the year.
The loan from First Ark Social Investment was repayable over 5 years with interest charges at 7.5% APR. It was unsecured and did not attract early repayment penalties. This was fully paid off in the year.
The loan from Co-op is repayable over 6 years with an interest charge of 2.5% per annum. No repayments were required for the first 12 months.
27
24 Reconciliation of net movement in funds to net cash flow from operating activities
The Manchester Deaf Centre
Statement of Cash Flows
For the year ended 31 March 2024
| Net income/(expenditure) for the year Adjustments for: Depreciaton charge Gains/(losses) on disposal of fxed assets (Gains)/losses on investments Loss/(proft) on sale of investments Dividends, interest and rents from investments Decrease/(increase) in stock Decrease/(increase) in debtors Increase/(decrease) in creditors Increase/(decrease) in provisions Net cash provided by/(used in) operatng actvites |
2024 £ (343,604 ) 23,930 718 - 3,024 (2,136) (146) 51,410 20,740 232,880 (13,184) |
2023 £ 82,442 21,465 - (2,661) 6,299 (256) 217 (83,500) (3,180) - |
|---|---|---|
| 20,826 |
28