mailes Goldie CHARTERED ACCOUNTANTS REGISTERED COMPANY NUMBER:05543185 REGISTERED CHARITY NUMBER: 1115966 Smalles Goldie Copy Kingston Wesley Community Projects Ltd (Limited by guarantee) Unaudited Financial Statements 31st August 2024 SD-0217341-1-6 ICAEW CHARTERÉD ACCOVNTANTS 108Qthor.
Kingston Wesley Community Projects Limited (Registered number: 05543185) Contents Page Company information Trustees. report Independent Examiner's report statement of financial activities Balance sheet Notes to the financial statements 8-13
Kingston Wesley Community Projects Limited Company information for tha year ended 31st August 2024 Dlrector8: l. C. Palmer M. Gooding D. Armitage Secretary: M. Gooding Company number: 5543185 (England and Wales) Raglstered offlco: Kingston Wesley Methodist Church 882 Holderness Road Hull HU9 3LP Charfty Number: 1115966 Indapandent Examlner: Smalles Goldie Regent's Court Princess Street Hull HU2 8BA Banker•: CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ
Kingston Wesley Community Projects Limited (Registered number 05543185) Trustees, Report for the year ended 31st August 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report wilh the financial statements of the charity for the year ended 31st August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 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). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources, including its income and expenditure, of the charity for the year. In preparing those financial statements the trustees are required to.. Select sultable accountlng policies and then apply them conslstently., Obsenle the methods and principles in the Charities SORP,, Make judgments and accounting estimates that are reasonable and prudent,, Prepare the financial statements on the going concem 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 al any time the financial position of the charity and enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Structure, governance and managemont The company was incorporated on 23rd August, 2005 as a private company limited by guarantee. On 30th August, 2006 the company was registered as a charity with the Charity Commission under registration number 1115966. The directors of the company also act as the trustees and the day to day management IS the responsibility of Mr l. C. Palmer. New directorsltrustees are recruited and appoinled by the directorsltrustees in office at that time. All new directorsltrustees are given suitable training to enable them to fulfil their responsibilities. At 31st August, 2024 Mrs M. Gooding, Mr l. C. Palmer and Mr D. Armitage had, in the event of the company being wound up, guaranteed to contribute towards the debts of Ihe company up to a maximum of £1 each whilst they remained directors and for a period of one year thereafter.
Kingston Wesley Community Projects Limited (Registered number 05543185) Trustees, Report (continued) for the year ended 31st August 2024 Publlc benefit, prlncipal actlvitie8 and review of tha actlvities The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in planning future activities and setting the charitable expenditure policy for the year. The charitable company's objectives are the provision of facilities for use of religious. community and youth organisations and the company fulfils these objectives by the operation of a charitable community ntre to enable people of all ages to develop emotionally, physically, socially and spiritually and to empower them to become caring and considerate members of the community. During the year the company has continued to provide facilities for the use of organisations involved in youth work, community servicES and social activities, sports and religious outreach projects. There are now over twenty-five regular users of the premise5 that provide more than thirty separate sessions on a regular weeklylmonthly basis. The trustees are satisfied wilh the progress made in maximising the use of the premises in accordance with the charitable company's objectives, but are exploring ways of achieving more involvement with the local community. Ri8k management The trustees examine the major risks that the company faces each year. The charitable company has developed systems to monitor and control these risks to mitigate any impact that they may have on the company in the future. Financial review and resorves pollcy The charity's income for Ihe year ended 31 st August 2024 was £30,390 (2023 £17,290). Total expenditure amounted lo £36,198 (2023 £23,852) resulting in a def1t of £5,808 (2023 deficil £6,562). At 31sl August 2024 the charity had unrestricled reserves of £19,914 (2023 £25,722). Taking into account the nature of the charity's income streams, the trustees are of the view that reserves at these levels are sufficient. -and signed on its behalf by: Approved by Order of the Board of Trustees on I C Palmer DireGtorlTrustsa Registered office: Kingston Wesley Methodist Church, 882 Holderness Road. Hull. HU9 3LP
Independent Examiner's report to the Trustees of Kingston Wesley Community Projects Limited Independent oxaminer's report to tha trustées of Wesley Community Projects Limited ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2024. Responslbilitios and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Aci 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) (b) of the 2011 Act. Independent examlnerfs statoment I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of sectlon 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which 15 not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. L. Taylor 8Sc (Hons), FCA Smalles Goldie Chartered accountants Regent's Court Princess Street Hull HU2 8BA Vfr/oL/Lo
Kingston Wesley Community Projects Limited (Registered number 05543185) Statement of Financial Activities (incorporating Income and Expenditure Account) for the year ended 31st August 2024 2024 2023 Total Unrestricted Funds Total Unrestricted Funds Note Gros8 income 30,390 17,290 Re8ourc•s expendod Charitable donations 3.000 Property management and maintenance costs 34.774 20,145 Administration costs 1,424 707 Total re80urces expanded 36,198 23,852 Net movement In funds (5,808) (6,562) Fund balances brought forward 25,722 32,284 Fund balancos ¢arrled forward 19,914 25,722 The annexed notes form part of these financial statements.
Kingston Wesley Community Projects Limited (Registered number 05543185) Balance Sheet at 31st August 2024 Note 2024 2023 Tanglble fixed assets 22,477 19,080 Current assets Debtors Cash at bank and in hand 3,497 6,318 2,239 20,005 9,815 22,244 Credltors: amounts falllng due withln one year Creditors (916) (604) Net current a889ts 8,899 21,640 Total a880ts 1088 current liabilltles 31,376 40,720 Crodltors: amounts falling due In over one year Creditors (237) (237) 31,139 40,483 Provl8lon8 for liabilltles and charges Deferred grants. donations and appeals 10 (11,225) (14,761) Not a88•ts 19,914 25,722 Capltal and r•89rve8 Accumulated fund - unrestricted 19,914 25,722 19,914 25,722 The annexed notes form part of these financial statements.
Kingston Wesley Community Projects Limited (Registered number 05543185) Balance Sheet - continued at 31st August 2024 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 st August 2024. The members have not required the company to obtain an audit of its financial statements for the year 8nded 31 st August 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitsble company as at the end of each financial year and of its surplus or deficit for each financial year In accordance with the requiremenls of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provislons applicable to charltsble companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on Vre signed on its behalf by: I C Palmer- Directorrrrustee The annexed notes form part of these financial statements.
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August 2024 Accounting policies The principal accounting policies are set out below. Basis of preparatlon of financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance wilh the Charities SORP (FRS 102)'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparalion of these financial slatements are set out below. These policies have been consistently applied to all years presenled unless otherwise stated. b) Income recognltion Income from grants, donations and appeals is recognised when received, other revenue is recognised on the accruals basis. Expenditure recognition Expenditure is recognised on the accruals basis, d) Depreciation Depreciation of tangible fixed assets is calculated to write down the cost of the assets over their anticipated useful lives. The rates applicable are as follows: Improvements to leasehold property Fixtures, fittings and equipment 50/0 p.a. 100k or 200/0 p.a. Restrlctad grants, appeals and donations recelved Restricted grants, donations and appeals of a revenue natu are released to revenue when the expendilure has been incurred. Restricted grants, donations and appeals for capital expenditure is transferred to deferred grants, donations and appeals when the expenditure is incurred and is released to revenue over the anticipated useful lives of the assels funded. Debtors and CrltorS roceivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Financial Activities in other expense5.
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August 2024 Accountlng policies - continued Re8arvas Restricted fund8 Restricted funds received are retained as reserves until the expenditure funded has been incurred. Unrestricted fund8 Reserves are retained to enable future operations to be funded for a perlod of up to one year, after taking into account anticipated net income for that period. Incomo 2024 2023 Unrostrlctgd funds Rents received Donations Fundraising Interest Grants received 15,116 12,075 224 23 14,750 2,495 45 2.952 Total unrestricted fund income 30,390 17,290 Total Income 30,390 17,290 Grants Recelved Listed Places of Worshlp 2,952
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August, 2024 Resources expended 2024 Total Unrestricted 2023 Total Property management and maintenance Propety maintenance Gardening Insurance Utilities Cleaning costs Depreciation of fixed assets Profil on disposal of fixed assets Amortisation of deferred grants, donations and appeals 17,006 910 3,389 3.124 4,234 5.368 3,175 4,436 4,237 6,745 4,959 4,803 1350) (3,536) (3.561) 34,774 20,145 Charltable expendltur• Donations to charitable organisations 3.000 Administratlon cost8 Sundry expenses Accountancy- Independent Examination 225 1,199 190 517 1,424 707 Taxation Kingston Wesley Community Projects Limited is a UK registered charity and under current legislation is exempt from most forms of taxation. Value added tax is not recoverable by the charity and is therefore charged to the statement of financial activities or balance sheet as incurred. 10
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August 2024 Tangible fixed assots Fixtures, Lea8•hold fittings and improvoments equipment Total Cost At start of year Addition5 Disposals 80,465 8.200 20,446 100,910 (572) {572) At end of year 88,665 19,874 100,338 Depreciatlon At Start of year Charged in year On disposals 62,471 4,541 19,360 262 (572) 81,830 4,393 (572) At end of year 67,012 19,050 85.651 Not book value: At end of year 21,653 824 22,477 At start of year 17,994 1,086 19,080 Debtors 2024 2023 Amounts falllng duo withln one year Trade debtors Other debtors Prepayments 366 1,645 1,486 652 26 1,560 3,497 2,238 Creditors 2024 2023 Amounts falling due wlthin one year Trade ueditors 916 604
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August 2024 Credltors 2024 2023 Amounts falllng due in more than one year Other loans (note 9) 237 237 Other loans 2024 2023 Other loans comprise.. Kingston Wesley Methodist Church 237 237 The maturity of the loans is: In two to five years 237 237 These loans are interest free and are repayable by instalments, 10. Dafarrod grants. donation8 and appeals 2024 2023 At start of year Amortisation for the year 14,761 (3,536> 18,322 (3,561) At end of year 11,225 14,761 11. Share capital The company is limited by guarantee and has no share capital. Each of the members of the company, who are all directors of the company, have guaranteed that, in the event of the company being wound up, they will each contribute to the debts of the company up to a maximum of £1 each whilst they remain members and for a period of one year thereafter. 12. Trustees, remuneration and benefits There were no trustees, remuneration or other benefits for the year ended 31 st August 2024 nor for the year ended 31st August 2023. Trustees, expenses There were no trustees. expenses paid for the year ended 31 sl August 2024 nor for the year ended 31st August 2023. 12
Kingston Wesley Community Projects Limited (Registered number 05543185) Notes to the Financial Statements for the year ended 31st August 2024 13. Related party transactions The directors of the Gompany are members of the Church Council of Kingston Wesley Methodist Church and the company occupies premises owned by Kingston Wesley Methodist Church on a rent free basis. The premises used by the company comprise the Church and Church Halls and it is not practicable to quantify the rental value. 14. Movement In funds The Charitable Company has only operated with unrestricted general funds during the current and previous financial year. All movements for the unrestricted general fund are shown in the Statement of Flnancial Activities on page 5. 13