Registered number: 05531622 Charity number: 1112225
Netherley Youth & Community Initiative Limited AUDITED ACCOUNTS FOR THE YEAR ENDED 31/08/2024
Prepared By: Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH
Netherley Youth & Community Initiative Limited
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/08/2024
TRUSTEES
Rachel Ellison Carol Connor (resigned 04/10/2023) Councillor Ruth Bennett Susan Fletcher Mark Ord Father Stephen Pritchard Rebecca Essel Mensah Harriette Gandaa-Niagwan Debra Canon
SECRETARY
Carol Connor (resigned 04/10/2023)
REGISTERED OFFICE
St Gregorys Church Hall 41 Damson Road Liverpool Merseyside L27 8XR
COMPANY NUMBER
05531622
CHARITY NUMBER 1112225
BANKERS
Santander, HSBC
AUDITORS
Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House
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Netherley Youth & Community Initiative Limited
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/08/2024
Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH
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Netherley Youth & Community Initiative Limited
ACCOUNTS FOR THE YEAR ENDED 31/08/2024
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 4 |
| Auditors' Report | 12 |
| Statement Of Financial Activities | 17 |
| Balance Sheet | 18 |
| Cash Flow Statement | 19 |
| Notes To The Accounts | 20 |
| sofa Incoming Resources | 34 |
| sofa Resources Expended | 36 |
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
The trustees present their report and accounts for the year ended 31/08/2024
The accounts are prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
Company information set out on page 1 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 (effective 1 January 2019).
PRINCIPAL ACTIVITIES
The principal activity of the charity in the year under review was general charitable purposes for the benefit of the community of Netherley .
STRUCTURE GOVERNANCE AND MANAGEMENT
The organistaion is a charitable company limited by guarantee (registered in England and Wales, No. 05531622) incorporated on 9th August 2005 and was registered as a charity (number 1112225) on 22nd November 2005.
The company was established under a Memorandum of Association which established the objects and powers of the company and is governed by its Articles of Association.
The organisation's board of trustees are also its directors. Members are elected at the Annual General Meetings of the members of the council, with casual vacancies being filled, as required, by the Board of Trustees in accordance with the Articles of Association.
Netherley Youth & Community Initiative Limited (Formerly known as St Gregory's Youth & Community Initiative) is managed and governed by a management committee, consisting of trustees and a number of advisers and staff members. The management committee plans to meet bi-monthly, with additional meetings as and when required, and agenda items include finance, health & safety and staff reports.
OBJECTIVES AND ACTIVITIES
The organisation was established to promote general charitable purposes for the benefit of the community of Netherley, Liverpool and to provide facilities for education or in the interests of social welfare for the recreation or other leisure time occupation of persons who have need of such facilities by reason of their youth, age, infirmity, financial hardship or social circumstances with the object of improving their conditions of life.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
In considering the objectives and activities, the Trustees have considered Charity Commission guidance on Public Benefit to ensure that the organisation is meeting its Public Benefit requirements and delivering access to all.
PUBLIC BENEFIT
In shaping the objectives and planning activities the Charity has given careful consideration to the Charity Commission Guidance on Public Benefit and ensuring that its activities are accessible to all and it applies equal opportunities at every level.
ACHIEVEMENTS AND PERFORMANCE
Netherley Youth and Community Initiative is based in the centre of the Netherley estate and has been at the heart of the community tackling poverty, antisocial behaviour, and crime. The majority of service users struggle financially and are coping with a variety of disadvantages. NY&CI have a brilliant team of staff and volunteers providing excellent work and have established many years of success in supporting families. Building a good reputation, delivering services over the years in making a difference we provide invaluable support and signposting services to alleviate and address issues due to circumstances and disadvantage.
We have adopted and implemented an open-door policy providing instant access, which ensures that we address people's needs and issues as and when they arise.
NY&CI has successfully delivered services to support family needs liaising with other agencies in the area. The NY&CI Manager chairs the Bellevale Forum a multi agency network that coordinates services for the community in order to deliver the highest quality of service to those in need of support in our community.
NY&CI continues to offer educational and recreational courses to the local community enabling people to improve themselves academically and to acquire new skills and increase their wellbeing.
In the year to 31 August 2023 we received funds from National Lottery (£298,627), Steve Morgan Foundation (£42,000) for the phase 1 construction of a building extension complementing the charity with additional rooms, office space, reception and changing places facility complying with DDA.
In the year to 31 August 2023 the charity also received funds from YIF (£92,099) for pre-construction costs and professional fees for the phase 2 refurbishment.
The capital phase 2 and 3 development was funded throughout the year to 31 August 2024 by the Youth Investment Fund. (£1,969,749) supporting phase 2 consisting of developing the existing building, installing a second mezzanine reinforced floor, DDA lift, resizing rooms, providing additional toilets, safeguarding areas by entry key pads and improving all lighting to LED energy efficient standard. The YIF capital funds also supported phase 3, the redesign of the outer area, relocating new flooring, new pathways, a new car park, new multi-use games area and soft play area and bike shelters and 2 EV chargers for people with electric cars.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
The Morgan Foundation generously supported us in 2017 with a brand new 17-seater Vauxhall Movano Minibus to enable us to offer opportunities of Breakfast and Afterschool pick-ups, residential breaks and trips for the children during half-terms. This resource continues to enable the Charity to provide essential support to local families particularly young people.
The gardening programme continued increasing people's skills in horticulture and provides opportunity for growing fruit and vegetables. Tackling hunger is a key activity and the Food Bank has been fully accessible throughout the year and has been an essential service and support to families.
NY&CI is a hub with so many resources and sign-posting services for families coping with debt, housing issues, addiction and domestic violence. NY&CI have become integral to this area and offer a strong foundation to support vulnerable families.
NY&CI provides a breakfast and after school club, holiday club and playschemes, educational and recreational courses, trips out, youth club activities, including a growing detached youth provision to challenge anti-social behaviour, safe play facilities, access to equipment including bikes for health and wellbeing and encouraging a healthy active lifestyle, an onsite gym, gardening and growing activities, a Food Bank and a Pantry Bus Service.
NY&CI delivers these vital services to the community all under one roof, making it easier for the families to access support.
NY&CI reaches out to families at grass roots level enriching their lives by providing a wide range of essential vital services to many in our community who are tackling disadvantage today.
We are once again grateful to all our Funders who enable us to provide life enriching services to our community thereby improving the quality of life for all those living in the area.
Capital grants from the National Lottery, Steve Morgan Foundation and the Youth Investment Fund have enabled the charity to transform its space, offering multiple activities to diverse groups.
CHAIRS REVIEW
The year 2023 -2024 has arguably constituted one of the most positive and significant periods in the history of Netherley Youth & Community Initiative as a registered charity. Primarily with a foundation in November 1994, there was a real sense of achievement that the organisation was approaching an important milestone anniversary. Attainment of thirty years and the transition into a fourth decade of charitable service is a great honour which has not been accomplished without exceptional dedication, industry and endeavour. Although the main celebrations for this anniversary are post-year end, the fact that so many important positive developments occurred during 2024 affords greater historic and emotional significance for many people involved with the charity. The second major development was what can only be described as the complete structural transformation of the site. Following on from the support of the Steve Morgan Foundation and the National Lottery, a once in a generation funding opportunity emerged which Trustees and Management embraced. The Youth Investment Fund enabled Netherley Youth & Community Initiative to be ambitious in terms of site development above and beyond the much valued extension of the ground floor with new office, training and washroom facilities. The Youth Investment Fund focussed attention to the elevation of the structure of the former St Gregory's RC Church and regard the upper space as a mezzanine / upper floor thus facilitating multiple activities on two floors underpinned by planned safeguarding zones.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
It is fair to reflect that even three years ago, the charity could only dream of such a transformation. We do have a number of acknowledgements in this respect. Primarily the relationship between the charity and the Liverpool RC Archdiocese as the landowner has been critical to the success of the two successive funding waves. Trustees highlighted the primacy of ensuring that all legal considerations were covered especially governing land covenants and firmly believe that dedicating time and resource to getting things right will be appreciated by the future trustees, staff and beneficiaries. However in general our Board of Trustees feel blessed and privileged to have a supportive and benevolent landlord with a demonstrable commitment to the Belle Vale community - we know other potential projects were not so fortunate. Reciprocally, Trustees take great satisfaction in the knowledge that when so many former churches across the land are demolished or fall into dereliction, or are converted to luxury apartments, restaurants and pubs, the former St Gregory's Church is successfully delivering outputs as closely aligned to the original purpose as possible and with the support provided by Liverpool Archdiocese can expand and enhance the charitable endeavours supporting those in need and improving the quality of life for families in Belle Vale.
Turning to the ambitious project itself, the saying that there can be no gain without pain proved so true during the year 2023-24. There can be few organisations in which the diversity of activities sited under one roof was so massively disrupted as the single base became a construction site for nine months and yet there can be few organisations where service to beneficiaries was maintained with continuity, stability and indeed dignity under significant stress. This continuity was only possible because of the steadfast dedication to duty of our Manager, Sharon Williams supported by our loyal and devoted staff team. Sharon was involved centrally in all aspects of each wave of the development (even selecting the appropriate brick colour for Stage one!), closely planning for the decanting of activities, negotiating with hosts, dividing herself and the charity's services into at least four simultaneous operations of i) food storage ii) food distribution iii) administration / human resources iv) breakfast club vi) after school club,vii) youth & play viii) detached youth work ix) community and school linkage x) two successive massive building projects - liaising with architects, construction companies, legal contacts, planners and funders.
This charity is indeed fortunate to enjoy through Sharon's developed and nurtured relationships the support of: Norman Pannell School - Governors, Head Teacher and staff, Belle Vale Primary School, Governors Head Teacher and Staff, Riverside Housing Association, Netherley Royal British Legion Club, Lee Valley Millenium Centre. We are especially grateful to Department for Culture, Sports and Media especially the Youth Investment Fund Team, Fusion 21, CBES for excellent customer support throughout the project, Merseyside Play Action Council and Harvey Guinan Accountants. The continued support of Steve Morgan Foundation, Henry Smith Charity list others made continuity possible during this period of transformation.
The Trustees extend their gratitude to all individuals and partners - Government funders, commercial, legal, financial and from within the community whose kindness, patience and support allowed normal service to be maintained for the continued benefit to local families
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
The Board of Trustees are acutely aware that such major awards increase expectations of future delivery for the young people and wider community in Netherley and they are implementing the necessary strategic steps to grow the organisation in structure in readiness for a future which will demand a comprehensive range of facilities and activities - social, educational, health-based and recreational.
During the year to 2024, the staffing structure adopted by Trustees effected a departmental approach to operations with the subdivision of the organisation between Children's Services and Youth & Play – each to be driven by a Co-ordinator. Recruitment has been difficult at times but the perseverance of Sharon Williams proves to be the guiding light to steer the charity to better days ahead and a brighter future with a multitude of partner agencies and activities on-site. Trustees extend sincere thanks to Sharon and the team. As Chair, I extend thanks for the dedication of my fellow Trustees without whom there can be no charity in legal terms. Together with clarity and with unanimity, we all thank the families and partners who constitute the Belle Vale Community whom it has been a privilege to serve in 2023-24 and whom it remains an eminent privilege to continue to serve into our fourth decade.
FINANCIAL REVIEW
The results for the year are shown in the financial statements. Total Incoming resources for 2023-2024 were £2,579,000 (2023 £780,515). Total resources expended were £491,910 (2023 £374,444) giving rise to net incoming resources of £2,087,090 (2023 £406,071). There were net incoming resources on the unrestricted funds of £71,100 and £2,015,990 net incoming resources on the restricted funds, including capital funds. At 31 August 2024 the position on the funds was £234,510 unrestricted funds and £2,496,922 restricted funds giving an overall total of £2,731,432 (2023 £644,342). Unrestricted funds comprise a general fund of £107,932 and designated funds of £126,578.
RISK MANAGEMENT
The main risks to which the charity is exposed, as identified by the Trustees, have been considered and systems have been established to mitigate those risks.
RESERVES POLICY
It is the policy of the charitable company to maintain unrestricted funds, which are free reserves and designated reserves of the charity, at a level which will allow the charity to cover redundancy costs and continue its activities for six months should no further funding be received.
As at the end of the financial year the unrestricted funds totalled £234,510. The charitable company requires £41,078 for redundancy and cessation obligations, and £5,000 for The Netherley Show and £10,500 for targeted needs in our Community, £50,000 development funds for own funded capital, £20,000 resources for the youth and pantry provision and £49,281 invested in fixed assets leaving £58,651 free reserves (funds not tied up in fixed assets or designated funds). The actual free reserves of £58,651 are less than the ideal level of reserves covering 6 months running costs of £145,000. The Trustees confirm that current business plans indicate that there are sufficient reserves to deliver planned activity but maintaining reserves for a sustainable future is a key objective. Continuous fundraising is a key priority and focus of the Charity to ensure that it has sufficient resources to cover the planned programme.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
TRUSTEES
The names of the trustees who served (at least part way) during the year and/or are in office as at the date of this report can be found on page 1.
The appointment and resignation of trustees are governed by the Memorandum and Articles of Association.
No trustee received any remuneration for their services as a trustee. No trustee has an interest in the contracts of the charity.
TRUSTEES RESPONSIBILITIES
The charity trustees (who are also the directors of Netherley Youth & Community Initiative Limited for the purposes of company law) 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).
Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure of the company for that period. In preparing the financial statements the trustees are required to:
Select suitable accounting policies and then apply them consistently;
Observe the methods and principles of the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
APPOINTMENT OF TRUSTEES
The charitable company seeks to have a wide range of skills and experience on its board, contained within a small number of individuals. Applications are welcome from potential Board members regardless of, for example, ethnic origin or disability. Normally trustees are recruited either through referral by an existing Board member or by direct approaches from individuals.
There is a recruitment process that involves exchange of relevant information, meetings on both sides and an opportunity for the person to attend a Board meeting as an observer before the existing Board members discuss and agree upon the appointment.
Where training needs of Board members are identified, appropriate training is provided.
KEY MANAGEMENT PERSONNEL
Manager: Sharon Williams
Pay policy for senior staff reflects market rates and skills and experience required for the role.
OUR VOLUNTEERS
The Charity is very involved in the Community and relies upon voluntary help and we wish to thank our volunteers for their support and service.
RELATED PARTIES
None of the trustees receive remuneration or other benefit from their work with the charity. Transactions with Trustees are disclosed in the notes to the accounts.
DISCLOSURE OF INFORMATION TO AUDITORS
The trustees who held office at the date of approval of this trustees' report confirm that, so far as they are each aware, there is no relevant audit information of which the Charity's auditors are unaware, and each trustee has taken all the steps that they ought to have
taken as a trustee to make themselves aware of any relevant audit information and to establish that the Charity's auditors are aware of
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
TRUSTEES' REPORT
that information.
AUDITORS
During the period Harvey Guinan LLP acted as auditor to the charity. A resolution to reappoint Harvey Guinan LLP will be put to the forthcoming annual general meeting.
APPROVAL
The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 28/05/2025 Mark Ord Mid Be
Mark Ord Trustee
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
AUDITORS' REPORT
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NETHERLEY YOUTH & COMMUNITY INITIATIVE LIMITED
OPINION
We have audited the financial statements of Netherley Youth & Community Initiative Limited for the year ended 31/08/2024 which comprise a Statement of financial activities, Balance Sheet, significant accounting policies and related notes. The financial reporting framework that has been applied in their preparation is the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
•give a true and fair view of the state of the Charty's affairs as at 31/08/2024 and of its surplus for the year then ended;
-
•have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
•have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
AUDITORS' REPORT
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit, the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
•adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•the financial statements are not in agreement with the accounting records or returns; or
•certain disclosures of trustees' remuneration specified by law are not made; or
•we have not received all the information and explanations we require for our audit; or
•the trustees were not entitled to prepare the financial statements and the trustees' report in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
RESPONSIBILITIES OF TRUSTEES
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
AUDITORS' REPORT
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
AUDITORS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the Charity through discussions with trustees and other management, and from our commercial knowledge and experience of the operation of a youth and community centre.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
AUDITORS' REPORT
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Charity, including the Companies Act 2006, Childcare Act 2006 and specific safety and quality standards, safeguarding guidance, taxation legislation and data protection, anti-bribery, employment, environmental Regulations, Charity law and regulations, and health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of noncompliance throughout the audit.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
• enquiring of management as to actual and potential litigation and claims; and
• reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the charity's legal advisors.
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Netherley Youth & Community Initiative Limited
FOR THE YEAR ENDED 31/08/2024
AUDITORS' REPORT
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Signature: ............................. fobs fran
Print Name: Julie Guinan FCCA (Senior Statutory Auditor)
For and on behalf of Harvey Guinan LLP Chartered Certified Accountants, Statutory Auditors
Unit 17, Mersey House Matchworks Estate, 140 Speke Road Liverpool L19 2PH 28/05/2025
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Netherley Youth & Community Initiative Limited
Statement of Financial Activities for the year ended 31/08/2024
| Income Income from generated funds Other trading activities Income from Investments Income from charitable activities Total Income and endowments Expenses Costs of generating funds Expenditure on Charitable activities Total Expenses Net Income Net movement in funds: Net income for the year Total funds brought forward Net funds carried forward |
Unrestricted funds £ 6,310 4,107 62,323 72,740 1,640 1,640 71,100 71,100 163,410 234,510 |
Restricted funds £ - - 2,506,260 2,506,260 490,270 490,270 2,015,990 2,015,990 480,932 2,496,922 |
2024 Total £ 6,310 4,107 2,568,583 2,579,000 491,910 491,910 2,087,090 2,087,090 644,342 2,731,432 |
2023 Total £ 9,415 2,587 768,513 |
|---|---|---|---|---|
| 780,515 | ||||
| 374,444 | ||||
| 374,444 | ||||
| 406,071 | ||||
| 406,071 238,271 |
||||
| 644,342 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
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Netherley Youth & Community Initiative Limited
| BALANCE SHEET AT 31/08/2024 | BALANCE SHEET AT 31/08/2024 | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Notes | £ | £ | |||
| FIXED ASSETS | |||||
| Tangible assets | 4 | 2,451,756 | 453,272 | ||
| CURRENT ASSETS | |||||
| Debtors (amounts falling due within one year) | 5 | 104,961 | 9,993 | ||
| Cash at bank and in hand | 613,592 | 299,019 | |||
| 718,553 | 309,012 | ||||
| CREDITORS: Amounts falling due within one year | 6 | 438,877 | 117,942 | ||
| NET CURRENT ASSETS | 279,676 | 191,070 | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 2,731,432 | 644,342 | |||
| RESERVES | |||||
| Unrestricted funds | 8 | ||||
| General fund | 107,932 | 46,091 | |||
| Designated funds | 126,578 | 117,319 | |||
| Restricted funds | 9 | 2,496,922 | 480,932 | ||
| 2,731,432 | 644,342 |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of trustees on 28/05/2025 and signed on their behalf by ............................. Mee Mark Ord Trustee te
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Netherley Youth & Community Initiative Limited
CASH FLOW FOR THE YEAR ENDED 31/08/2024
| Notes NET CASH INFLOW FROM OPERATING ACTIVITIES 16a CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT Payments to acquire tangible assets Net cash inflow from capital expenditure and financial investment NET CASH INFLOW BEFORE FINANCING FINANCING INCREASE IN CASH |
(1,998,484) | 2024 £ 2,302,640 (1,998,484) 304,156 |
|---|---|---|
| 304,156 |
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Netherley Youth & Community Initiative Limited
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/08/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1c. Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1d. Allocation And Apportionment Of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.
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Netherley Youth & Community Initiative Limited
1e. 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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
1f. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
No depreciation is provided in these accounts on short leasehold additions comprising phase 1 building costs for an extension and phase 2 pre construction costs as phase 2 did not complete until after the year end.
Fixtures And Fittings
straight line 25 %
1g. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1h. Policy For Debtors
Trade and other debtors are recognised at their setllement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discount due.
1i. Policy For Income Recognition
Items of income are recognised and included in the acounts when all the following are met: (1) The charity has entitlement to the funds; (2) Any performance conditions attached to the income have been met or are fully within the control of the charity; (3) There is sufficient certainty that receipt of the income is considered probable and (4) The amount can be measured reliably.
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Netherley Youth & Community Initiative Limited
1j. Policy For Cash At Bank And In Hand
Cash at bank and in hand includes cash and short term liquid investments with a short maturity of three months or less from the date of acquistion or opening of the deposit or similar account.
1k. Policy For Creditors And Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a 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 value amount after allowing for any discount due.
1l. Policy For Financial Instruments
The charity has financial assets and financial liabilities of a kind that qualify the basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1m. Policy For Basis Of Preparation Of Accounts
The Trustees have reasonable expectation that the charity will be able to continue in operational existence for the foreseeable future and therefore consider the use of the going concern basis to be appropriate.
1n. Policy For Taxation
Income and Gains are exempt from taxation as they are applied for charitable purposes only. The charitable company benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.
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Netherley Youth & Community Initiative Limited
1o. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.
2. DIRECTORS AND EMPLOYEES
Particulars of employees (including directors) are shown below:
| Employee costs during the year amounted to: Wages and salaries Social security costs Pension costs |
2024 £ 173,839 7,163 2,933 183,935 |
2023 £ 154,748 1,926 1,917 |
|---|---|---|
| 158,591 |
The number of employees were Manager: 1; Assistant Manager: 1; Part time Activity Workers: 10 ; Part time Administrative Worker : 1.
No Trustee received any remuneration.
3. PENSION CONTRIBUTIONS
| 3. PENSION CONTRIBUTIONS | ||
|---|---|---|
| Pension contributions | 2024 £ 2,933 2,933 |
2023 £ 1,917 |
| 1,917 |
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Netherley Youth & Community Initiative Limited
4. TANGIBLE FIXED ASSETS
| Cost At 01/09/2023 Additions At 31/08/2024 Depreciation At 01/09/2023 At 31/08/2024 Net Book Amounts At 31/08/2024 At 31/08/2023 |
Short Leasehold Properties £ 444,762 1,997,944 2,442,706 - - 2,442,706 444,762 |
Fixtures and Fittings £ 12,758 540 13,298 4,260 4,260 9,038 8,498 |
Equipment £ 22,804 - 22,804 22,792 22,792 12 12 |
Total £ 480,324 1,998,484 |
|---|---|---|---|---|
| 2,478,808 | ||||
| 27,052 | ||||
| 27,052 | ||||
| 2,451,756 | ||||
| 453,272 |
Short leasehold property comprises a 25 year lease from 1 July 2019 on the premises occupied in 41 Damson Road granted by the Archdiocese of Liverpool.
| 5. DEBTORS Amounts falling due within one year: Trade debtors Other debtors |
2024 £ 1,642 103,319 104,961 |
2023 £ 252 9,741 9,993 |
|---|---|---|
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Netherley Youth & Community Initiative Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Taxation and social security Other creditors |
2024 £ 296,765 4,051 138,061 438,877 |
2023 £ 11,968 - 105,974 |
| 117,942 |
7. LIMITED BY GUARANTEE
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £10, to the company should it be wound up. At 31/08/2024 there were 9 members.
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Netherley Youth & Community Initiative Limited
8. UNRESTRICTED FUNDS
| General fund Designated Organisational Fund Netherley Show Designated Fund Designated Community Fund Designated Development Fund Designated Youth and Pantry Fund |
Brought forward £ 46,091 21,840 4,979 10,500 60,000 20,000 163,410 |
Incoming resources £ 72,740 - - - - - 72,740 |
Outgoing resources £ (1,640) - - - - - (1,640) |
Transfers £ (9,259) 19,238 21 - (10,000) - - |
Carried forward £ 107,932 41,078 5,000 10,500 50,000 20,000 |
|---|---|---|---|---|---|
| 234,510 |
Designated Organisational Fund
Amounts are specifically set aside to cover potential redundancy and cessation costs.
Netherley Show Designated Fund
Funds set aside for Netherley Show
Designated Community Fund
Funds and resources for targeted need in our community and meeting unforseen costs
Designated Development Fund
Funds for own funded assets and shortfall in grant funded capital projects
Designated Youth and Pantry Fund
Funds for a vehicle
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Netherley Youth & Community Initiative Limited
9. RESTRICTED FUNDS
| Andrew Mitchell Christian Charitable Trust YIF - revenue grants National Lottery Main Grant Liverpool City Council - Youth & Play The Family Hub Liverpool City Council Mayoral Neighbourhood Fund Awards for All Feeding Liverpool LCC CitySafe The Henry Smith Charity Riverside MPAC - Merseyside Play Action Council Garfield Weston Foundation PH Holt Foundation Community Organisations Cost of Living Fund LCVS HAF St Christopher Home Trust Small Grants and Donations YIF - capital grant National Lottery - capital grant Steve Morgan Foundation - capital grant |
Brought forward £ 1,197 - 7,967 118 - 646 - - - 16,375 36 - 15,000 736 - - 6,131 - 92,099 298,627 42,000 480,932 |
Incoming resources £ 25,000 220,218 42,410 38,880 3,500 2,760 19,975 13,570 8,000 44,000 16,810 7,700 15,000 - 61,688 16,500 - 500 1,969,749 - - 2,506,260 |
Outgoing resources £ (24,909) (216,345) (24,738) (38,998) (3,500) (2,760) (4,478) (11,316) (8,000) (42,275) (10,034) (6,400) (15,000) - (61,688) (13,840) (5,489) (500) - - - (490,270) |
Transfers £ - - - - - - - - - - - - - - - - - - - - - - |
Carried forward £ 1,288 3,873 25,639 - - 646 15,497 2,254 - 18,100 6,812 1,300 15,000 736 - 2,660 642 - 2,061,848 298,627 42,000 |
|---|---|---|---|---|---|
| 2,496,922 |
Andrew Mitchell Christian Charitable Trust
Funds to alleviate poverty for families and provide day trips and resources for children and young people
YIF - revenue grants
Youth Investment Funds for working with young people
National Lottery Main Grant
Main grant funding for projects activities salaries and overheads and supporting those in need.
Liverpool City Council - Youth & Play
Grants for Partners and area activity.
The Family Hub
Funds for working with and supporting families
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Netherley Youth & Community Initiative Limited
Liverpool City Council Mayoral Neighbourhood Fund
Funds to relieve hardship and for food, essential supplies and Christmas support.
Awards for All
Funds for supporting volunteers and purchasing food to support food pantry/Union
Feeding Liverpool
Funds to alleviate poverty sustain food pantry supplies and running costs
LCC CitySafe
Funds for work with young people including support staff costs
The Henry Smith Charity
Funding for salary and on costs.
Riverside
Funds to support Christmas food hampers to families in need and running costs
MPAC - Merseyside Play Action Council
Funds for supporting resources running costs and meals via specified play schemes
Garfield Weston Foundation
Funds for salaries and oncosts.
PH Holt Foundation
Project and Equipment Funds.
Community Organisations Cost of Living Fund
National Lottery funds to support communities under pressure caused by the increased cost of living.
LCVS HAF
Funds for holiday activities and food.
St Christopher Home Trust
Funds for Community Activity and Support to those in need.
Small Grants and Donations
Small grants and donations for specific activities and support and services to those in need in our community.
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Netherley Youth & Community Initiative Limited
YIF - capital grant
Funds for pre-construction phase 2 and construction costs of phases 2 and 3 refurbishment
National Lottery - capital grant
Funds for Construction Phase 1 development and building extension
Steve Morgan Foundation - capital grant
Funding for construction phase 1 development - a building extension
10. RELATED PARTY TRANSACTIONS
Councillor Ruth Bennett is a trustee of the charity and a Liverpool City Councillor. The charity received funding from Liverpool City Council during the year of £46,880.
The remuneration of key management personnel was £52,862 (2023 £43,283). There were no employees whose annual remuneration was £60,000 or more.
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Netherley Youth & Community Initiative Limited
11. ANALYSIS OF INCOMING RESOURCES
| Incoming Resources from Generating Funds: Donations Miscellaneous Investment Income: Bank Interest Charitable Activities: LCVS HAF Room Hire Clubs (Holiday Club & Youth, Breakfast, After School) Food Pantry Tuck Shop Bonus Ball Gym + Parent & Toddler Community Organisations Cost of Living Fund City of Liverpool Awards for All The Steve Morgan Foundation The Andrew Mitchell Charitable Trust National Lottery MPAC Feeding Liverpol LCC Mayoral Neighbourhood Fund Youth Investment Fund (YIF) Other Grants (Riverside, Childwall EMB, Family Hub, G. Weston, H. Smith) |
2024 £ 1,328 4,982 4,107 16,500 - 48,734 10,208 2,751 491 139 61,688 46,880 19,975 - 25,000 42,410 7,700 13,570 2,760 2,189,967 79,810 2,579,000 |
2023 £ 5,152 4,263 2,587 22,500 1,750 45,292 15,079 2,535 427 788 9,741 47,961 - 53,646 26,000 346,427 5,500 27,418 4,300 92,099 67,050 780,515 |
|---|---|---|
12. COMPANY INFORMATION
Netherley Youth and Community Initiative Limited, a company limited by guarantee, is incorporated and domiciled in England and Wales, and has its registered office and principal place of business at St Gregory's Church Hall, 41 Damson Road, Liverpool L27 8XR.
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Netherley Youth & Community Initiative Limited
13. RESOURCES EXPENDED
| Charitable Activity Direct Project Costs Volunteer Expenses Premises Staff Costs Professional Fees Project Activites & Expenses General Overhead Costs Depreciation Training Total Charitable Expenditure Governance Costs Total Expenditure |
2024 £ 8,843 53,914 183,935 100,548 109,602 30,633 - 4,761 __ 492,236 (326) 491,910 |
2023 £ 6,859 47,524 158,591 28,414 105,205 25,349 29 - __ 371,971 2,473 374,444 |
|---|---|---|
14. OPERATING LEASE COMMITMENTS
The charity has a 25 year lease from 1 July 2019 on the premises that it occupies in 41 Damson Road that was completed 8 October 2021 and no rent or lease premium is payable.
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Land & Buildings |
Other Items | Land & Buildings |
Other Items | |
| £ | £ | £ | £ | |
| Operating Leases which expire: | ||||
| Within 1 Year | - | - | - | - |
| 2 to 5 Years | - | - | - | - |
| After 5 Years | - | - | - | - |
| __ | __ | __ | __ | |
| - | - | - | - | |
| __ | __ | __ | __ |
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Netherley Youth & Community Initiative Limited
15. NET ASSETS BY FUND
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | Funds | Funds | |
| £ | £ | £ | |
| Tangible Fixed Assets | 49,281 | 2,402,475 | 2,451,756 |
| Net Current Assets | 185,229 | 94,447 | 279,676 |
| __ | __ | __ | |
| 234,510 | 2,496,922 | 2,731,432 | |
| __ | __ | __ |
16. NOTES TO THE CASHFLOW STATEMENT
16a. Reconciliation of operating profit to net cash flow from operating activities
| Operating profit Increase in debtors Increase in creditors Net cash inflow from operating activities |
£ 2,076,673 (94,968) 320,935 |
|---|---|
| 2,302,640 |
16b. Analysis of changes in cash and cash equivalents during the year
| Balance at 01/09/2023 Net cash inflow Balance at 31/08/2024 |
2024 £ 299,019 314,573 613,592 |
2023 £ 265,375 33,644 |
|---|---|---|
| 299,019 |
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Netherley Youth & Community Initiative Limited
16c. Analysis of changes in financing year
Investment and other income £10,417 and £304,156 cash increase gives £314,573 inflow (16b.)
| Loans and | |
|---|---|
| Share | finance |
| Capital | lease |
| obligations | |
| £ | £ |
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