REGISTERED COMPANY NUMBER: 06078193 (England and Wales) REGISTERED CHARITY NUMBER: 1118624 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR HIGHFIELDS COMMUNITY ASSOCIATION Watergates 109 Coleman Road Leicester Leicestershire LE5 4LE
HIGHFIELDS COMMUNITY ASSOCIATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Reference and Administrative Details Trustees. Report Independent Examiner's Report statement of Financial Activities Statement of Financial Position Statement of Cash Flows 10 Notes to the Statement of Cash Flows Notes to the Financial Statements 12 to 24
HIGHFIELDS COMMUNITY ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES Dr l Lighffoote - Director (resigned 151412024) Mr T S Naute- Director Mr R D Patel - Director Ms W A Taylor - Director (resigned 91412025) Ms M Hingorani - Director (resigned 1111012024) Mr A Burns- Director (resigned 1111012024) Ms A D Flaherty - Director (resigned 151512024) Ms H M Lentell - Director Ms U M Dakri - Director (resigned 1111012024) Ms D Gannon - Director (appointed 1111012024) Mr Z Halim - Director (appointed 1111012024) Ms N Ismail - Director (appointed 1111012024) Mr A Matak- Director (appointed 1111012024) Mr T Tabot- Trustee (appointed 1111012024) (resigned 91412025) COMPANY SECREfARY Mr C P Thamotheram REGISTERED OFFICE Highfields Centre 96 Melbourne Road Leister Leicestershire LE2 ODS REGISTERED COMPANY NUMBER 06078193 (England and Wales) REGISTERED CHARITY NUMBER 1118624 INDEPENDENT EXAMINER Watergates 109 Coleman Road Leicester Leicestershire LE5 4LE
HIGHFIELDS COMMUNITY ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. 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 IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and activities Its mission is to help provide, develop and manage a family oriented community, Sports and arts learning centre and to serve Leicester's (and now extended to Leicestershire's) population, with a particular emphasis as a community anchor organisation for the Highfields area wide communities. The charity continues to pursue these objectives by overseeing the working of Highfields Centre. Consistent with these objectives, the charity has continued to provide a wide range of programmes related to lifelong learning and community development throughout the year. The programmes include the provision of services in arts. sports, youth clubs, adult classes and advice work. During the last year and given the excellent platform provided by the EESE (Economic, Effective, Successional and Extendable) Measures we had previously implemented, we have continued to focus on developing the potential for boosting our self-generated income through venue hire and rentals. Stslwart elements of our services such as the youth work, adult education and sports have continued to be provided and enjoyed by our service users during the last year. However, the slow recovery from the pandemic and its related lockdown and collapse in confidence and the more recent cost of living crisis and energy price increases resulted in us having to tske various measures to minimise projected significant deficit over the last year. Publlc benefft The trustees have referred to the information contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities, with all the charity's expenditures being incurred in pursuit of its public benefit duties. Evidence of this benefit is continued to be demonstrated by the uptake of the charity's services by nearly 85.000 users (in 2023), with a substantial majority of those users from the local area. The range of services provided at Highfields Centre reflects the priority service needs for children, young people, elderly, adult learners, advice, arts, sports and community development, with these services provided over a seven day week (by arrangement) and over an extended year. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles The achievements and performance of the charity in the year in overseeing the working of Highfields Centre has been coterminous with discussions with other public and voluntary sector agencies about effecting new service delivery partnerships. The completion of the Power to Change funded remodelling building work in 2018 provided a much-needed stimulus to achieving our objective of seeking economic independence through increasing our self-generated income. Our relatively new FAB-L (Fashion workers Advice Bureau - Leicester), funded by both trade unions and clothing brands has aladY made considerable positive differences to the lives of local garment workersl Through our EESE Measures and in recognising that we weren't able to directly provide all of the ServIS at this Centre. some of our rooms have been sublet to other partner agencies, and we're currently working through the renewal of their respective sub-le8ses.
HIGHFIELDS COMMUNifi ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2025 FINANCIAL REVIEW The 2024125 financial year was marked by continued progress in financial stability and growth, despite ongoing sector-wide economic pressures. The charity achieved a net surplus of £76,316 (2024.. £3,836), driven by a combination of sustained unrestricted income and well-targeted restricted gr8nts supporting both programme delivery and strategic capital improvements. Total income rose to £598,358 {2024'. £513,001), reflecting an increase in grant funding alongside higher levels of income generated from the charity's own operations, which grew to £268,541 (2024.. £212,262). The uplift in restricted funding this year came through a diverse mix of national, regional, and local sources, supporting initiatives spanning youth diversion, employability, arts, sustsinability, and research. This balanced portfolio of funding has helped to strengthen both the charity's service offer and its infrastructure resilience. Expenditure for the year totalled £522,042 (2024: £509,165). with spending primarily supporting core delivery areas including staffing, community programmes, energy costs, and facilities upkeep. The charity also made strategic investments in capital and environmental sustainability projects, which were partly supported by new restricted funds. As a result, the charity's total funds rose to £724,907 by year-end (2024.. £648,591), supported by improved cash flow and effective management of both operating costs and grant delivery. The closing cash balance stood at £470,526 (2024.. £339,166), of which £164,317 was held for restricted purposes, £156,091 was designated by trustees for specific future use, and onty £150,118 related to general unrestricted funds. This breakdown highlights that a substantial portion of available cash is already committed, either by external funders or internally eamarked for planned projects, ensuring clarity around the charity's free reserves and fonbvard commitments. The trustees remain confident that the organisation's financial position and foNard planning place it in a strong position to navigate future uncertainties while maintaining and developing services. The current level of reserves and funding relationships provide a firm foundation for continued delivery in line with charitable objectives. PRINCIPAL FUNDING SOURCES The charity's main income had been through its three different contracts with Leicester City Council. The cumulative loss of over £500,000 in contracted income during 201412015 had adversely impacted the level of resenies as well as the Association's financial standing and the trustees have continued to carefully consider the necessary actions in relation to ensuring not only.its continued viability but also its renewal and development. The 2024125 outturn, given the ongoing financial challenges has been remarkably good. This situation was also considerably aided by our successful funding applications to the Community Ownership Fund and Energy Renewal Fund, with both contributing to refurbishing main areas of our Centre and installing new solar panels and an urban roof garden. RESERVES POLICY In accordance with Association's reserves policy and taking account of the outturn experienced during the 2024125 year, the trustees have effected appropriate changes to the Association's designated funds, including the Asset Replacement Fund, Programme Support Fund and Transforming Services Fund. The charity had unrestricted reserves of £596,475 as at 31 March 2025. This includes designated reserves, comprising amounts set aside by the trustees for specific purposes, including a designated fund representing the value of fixed assets held by the charity that are available for use in furtheran of its objectives. After accounting for designated reseNes, the charity's free reserves totsl £138,055. The trustees aim to maintain free reserves equivalent to at least three months, revenue expenditure, in line with guidance from Locality, the national support organisation for the third sector. The current level of free reserves meets this target and provides the charity With a sufficient buffer to rnanage unforeseen financial demands and ensure operational continuity.
HIGHFIELDS COMMUNITY ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2025 GOING CONCERN The Goveming Body has considered the impact of COVID-19 in relation to their assessment of going concem and in their opinion, they have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the Governing Body considers the going concern assumption to still be appropriate. They acknowledge that given the currently rapidly changing social environment including regular identification of new variants of COVID-19, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the Governing Body to represent a general inherent level of risk in relation to the going Goncern assumption albeit not quantifiable at this time. The Governing Body has reviewed future projections, which they feel adequately reflect the current uncertain economic environment. After considering all relevant uncertainties, the Governing Body has a reasonable expectation that there will be sufficient cash resources generated from its operations to enable the charitable company to continue in operation for at least 12 months from the signing date of these financial statements. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements. FUTURE PLANS The charity's plans for the future will be closely related to the fuller development of all the new COF and ERF funded services at the centre and to providing the necessary infrastructure and systems to enable its $M¢th and effective operation and to manage the transition occasioned by the local authority's funding decisions. The charity's updated Strategic Plan has been successfvlly updated and it was a key element for consideration at the last strategic Review Day when the Trustees met with the Centre's staff to consider key priorities and developments for the forthcoming year. With the charity established in 1972 and having celebrated its 50th Anniversary in October 2022. It has become well established, respected and trusted by not only its staff and service users but also a range of local, regional. national and international partners. The pace of this recognition has increased over the last decade and is reflected in the charity's increasingly recognised status as the partner of first choice for many community development related seNice provision. This is underpinned by the trustees and staff now actively pursuing major developments at this Centre, including the COF funded refurbishment of the Centre's major usage spaces and the installation of an urban roof garden. and the installation of solar panels. The trustees are satisfied that the charity is very well placed to further enhance its provision of much needed services in the coming years through its already well-established role in accessing non-local authority extemal funding contracts as a member of several different service consortiums. For these reasons, the trustees believe the charity is very definitely a 'going concern. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charitsble company was incorporated on 1st February 2007 and is governed by the memorandum and articles of association updated on 17th February 2016. The charitsble comp8ny commenced activities on 1st October 2007. Recruitment and appointment of new trustees The Trustees will be appointed by election at the Annual General Meeting.
HIGHFIELDS COMMUNITY ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The charity is organised operationally on a day-to-day basis by the Head of Centre and the charitable company is monitored via bi-monthly governing body and appropriate work groups as required. ..IL.£kT.KfyLJ..Zo.2Sand signed on its behalf by: Approved by order of the board of trustees on . MrRDPatel- rus
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HIGHFIELDS COMMUNITY ASSOCIATION Independent examinerfs report to the trustees of Highfields Community Association {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025. Responsibilities 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 accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, 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 145(5) (b) of the 2011 Act. Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountsnts, which is one of the listed bodies. I have completed my examination. I confinn 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 Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or 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. Nazir Malida FCCA Watergates 109 Coleman Road Leicester Leicestershire LE5 4LE Date: .. 1..6..1.o7.1.tscS..........
HIGHFIELDS COMMUNITh ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 3113125 Total funds 3113124 Total funds Unrestricted funds Restrictsd funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 243,457 243,457 109,891 Charitable actlvltl•s Incoming resources from charitable activities 268,437 86.360 354,797 397,314 Other trading activities Investment income Other income 82 22 82 22 73 5,723 Total 268,541 329,817 598,358 513,001 EXPENDITURE ON Charltsble activities Costs of charitable activities 219,473 302,569 522,042 509.165 NET INCOME Transfers between funds 49,068 18,998> 27,248 76,316 3.836 19 Net movement in funds 30,070 46,246 76,316 3,836 RECONCILIATION OF FUNDS Total funds brought foNard 566,405 82,186 648,591 644,755 TOTAL FUNDS CARRIED FORWARD 596,475 128,432 724,907 648,591 The notes on page O form part of these finanaal statements
HIGHFIELDS COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL POSITION 31ST MARCH 2025 3113125 Total funds 3113124 Total funds Unrestrlcted funds Regtrlcted funds Notes FIXED ASSETS Tangible assets 14 302,328 11,608 313,936 328,050 CURRENT ASSETS Debtors Cash at bank and in hand 15 22,975 306 209 48,908 164 317 71,883 470 526 75,488 339,166 329,184 213,225 542,409 414,654 CREDITORS Amounts falling due within one year 16 135,037) 128,734) (63,771) (94,113) NET CURRENT ASSETS 184 491 478 638 TOTAL ASSETS LESS CURRENT LIABILITIES 596,475 196,099 792,574 648.591 CREDITORS Amounts falling due after more than one year 17 (67,667) {67,667) NET ASSETS 596,475 128,432 724,907 648,591 FUNDS Unrestricted funds Restricted funds 19 596,475 128.432 566,405 82,186 TOTAL FUNDS 724,907 648,591 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006. The twstees acknowledge their responsibilrties 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 charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements 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) The notes on page O form part of these financial statements
HIGHFIELDS COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL POSITION . continued 31ST MARCH 2025 These financial ststements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on l.&A&3..25 and were signed on its behalf by.. MrT rustee The notes on page O frjrm part of these financial ststements
HIGHFIELDS COMMUNITY ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2025 3113125 3113124 Notes Cash flows from operating activitles Cash generated from operations Finance costs paid 55,614 1,405) 105,316 408) Net cash provided by operating activities 54,209 104.908 Cash flows from investing activities Purchase of tangible fixed assets Interest reiVed (4,537) 22 (6,262) Net cash used in investing activities 4,515) Cash flows from financing actlvlties New loans in year Loan repayments in year 84,000 2,333) Net cash provided by financing activtties Change in cash and cash equivalents in the reporting period Cash and cash equlvalents at the beglnning of the reporting period 131,361 98,646 339,166 240,519 Cash and cash equlvalents at the end of the reporting period 470 526 339,166 The notes on page O fom part of these finanual statements -10-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 3113125 3113124 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Finance costs Decrease in debto (Decrease)lincrease in creditors 76,317 3,836 18,651 <22 IA05 3.605 44,342) 37,422 408 5,168 58,482 Net cash provided by operations 55.614 105,316 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 339 166 131,360 470 526 339,166 131,360 470,526 Debt Debts falling due within 1 year Debts falling due after 1 year (14,000) 67,667) {14,000) 67,667) 81,667) 81,667) Total 339,166 49.693 388,859 The notes on page O form part of these finanaal statements
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019),, Financial Reporting Stsndard 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. INCOME All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. GOVERNMENT GRANTS Where grants received do not impose specified fvture performance-related conditions these are recognised under the performance model and the income recognised in the statement of financial activities when the grant proceeds are considered to be received or receivable. Any government grants reiVed during the year are recognised under perfomiance model. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. iere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property Plant and machinery Fixtures and fittings Computer equipment over lease term 10% on cost 15% on cost 33 % on cost TAXATION The charity is exempt from corporation tax on its charitable activities. FUND ACCOUNTING The funds of the Association have been segregated as follows: Restricted funds consist of grants and donations, for which the grant providing authorities and donors has specified the purpose for which the resources can be utilised. Unrestricted general funds represent income which is expendable at the discretion of the trustees in the furtheran of the objects of the charity. Unrestricted designated funds represent amounts that have been put aside at the discretion of the trustees out of unrestricted general funds for specffic purposes or projects. -12-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES - continued FUND ACCOUNTING Transfers are made bebNeen funds where there is a release of restricted funds to unrestricted general and designated funds or charges are made beeen funds. DONATIONS AND LEGACIES 3113125 Totsl funds 3113124 Total funds Unrestricted funds Restricted funds Grants 243,457 243,457 109.891 Grants reived, included in the above, are as follows: 3113125 3113124 Other grants 243.457 109,891 OTHER TRADING ACTIVITIES 3113125 Total funds 3113124 Total funds Unrestricted funds Restrlctsd funds Bar and vending sales 82 82 73 INVESTMENT INCOME 3113125 Total funds 3113124 Total funds Unrestricted funds Restricted funds Interest receNable 22 22 -13-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES 3113125 3113124 Activity Incoming resour$ from charitable activities Incoming resources from charitable activities Charitable activities 268,637 207,808 Grants 86,160 189,506 397.314 OTHER INCOME 3113125 Total funds 3113124 Total fund9 Unrestricted funds Restricted funds Insurance claim 5,723 CHARITABLE ACTIVITIES COSTS Direct Costs Isee note 8) Support costs (see note 91 Totals Costs of charitable activities 511.462 10.580 522,042 DIRECT COSTS OF CHARITABLE ACTIVITIES 3113125 3113124 staff costs Rates and water Insurance Light and heat Telephone Postsge and stationery Advertising Repairs & maintenance Other activity costs Minibus expenses Other travel costs Legal fees Professional and consultancy other Offi costs Other expenses Venue hire IT costs 222,555 5,552 14,147 60,677 7,419 2,619 3,243 47,448 11,325 1,680 330 3,919 39,209 504 13,946 29,168 205,140 3,916 12,696 62,206 9,934 3,932 275 39,459 19,117 2,068 2,350 338 16,300 1,283 16,166 41,215 Carried forward 483.987 449.739 -1
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 DIRECT COSTS OF CHARITABLE ACTMTIES - continued 3113125 3113124 Brought forward Programme delivery support Bad debts Depreciation Interest payable and similar charges 483,987 7,419 449,739 9,081 2,135 37,422 408 18,651 1.405 511,462 498,785 SUPPORT COSTS Govemance costs Costs of charitable activities 10,580 10. NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 3113125 3113124 Depreciation - owned assets 37,423 11. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024. TRUSTEES. EXPENSES There were no trustees, expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024. -15-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 12. STAFF COSTS 3113125 3113124 Wages and salaries Social security costs Other pension costs 212,960 8,452 1,143 191,398 12,166 1,576 222,555 205,140 The average monthly number of employees during the year was as follows.. 3113125 23 3113124 21 Community Fund No employees received emoluments in excess of £60.000. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 109,891 109,891 Charltable actlvltles Incoming resources from charitable activities 206,468 190,846 397.314 Other trading activities Other income 70 5,723 73 5,723 Total 212,261 300 740 513,001 EXPENDITURE ON Charitable activities Costs of charitable activities 169513 339,652 509 165 NET INCOMEI(EXPENDITURE) Transfers between funds 42,748 {38,912) 7,006 3,836 Net movement in funds 35,742 {31,906) 3,836 RECONCILIATION OF FUNDS Total funds brought foward 530,660 114,095 644,755 TOTAL FUNDS CARRIED FORWARD 566.402 648 591
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 14. TANGIBLE FIXED ASSETS Improvements to property Fixtures and fittings Plant and machinery COST At 1st April 2024 Additions 335,723 46,763 64,667 At 31 st March 2025 33S,723 46,763 64,667 DEPRECIATION At 1st April 2024 Charge for year 48,499 7,942 46,147 310 38,263 5,076 At 31st March 2025 56,441 46,457 43,339 NET BOOK VALUE At 31st March 2025 279,282 306 21,328 At 31st March 2024 287,224 616 26,404 Motor vehicles Computer equipment Totals COST At 1st April 2024 Additions 17,994 163,251 4,537 628,398 4,537 At 31st March 2025 17.994 167,788 632,935 DEPRECIATION At 1st April 2024 Charge for year 6,943 1,658 160,496 3,665 300,348 18.651 At 31st March 2025 8.601 164,161 318,999 NET BOOK VALUE At 31st March 2025 9,393 3,627 313,936 At 31st March 2024 11,051 2,755 328,050 The propety occupied by the Association is leased from Leicester City Council. The leasehold property was valued by an independent valuer Spencers Druce Naylor Parkes on 10 October 2017. The lease under which the propety is held specifically ststes that no premium is payable on any sale and as a result of this there would be nil value of the leasehold interest on the open market. However, the leasehold interest was valued for internal purposes only on the basis of potential income flows capitalised over the outstanding lease period. On this basis, the value of leasehold interest for internal purposes subject to the existinglpotential lettings was valued at £1,100,000 with an aggregate market rental value of £220,185 per annum exclusive. -17-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113125 3113124 Trade debtors Prepayments and accrued income 31,189 45,535 71.883 75,488 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113125 3113124 Other loans (see note 18) Trade creditors Social security and other taxes Other creditors Accruals and deferred income 14,000 4,541 3,033 9,041 7,704 2.663 13,547 94.113 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 3113125 3113124 Other loans (see note 18) 18. LOANS An analysis of the maturity of loans is given below.. 3113125 3113124 Amounts falling due within one year on demand: Other loans Amounts falling between one and two years.. other loans - 1-2 years 14,000 Amounts falling due bebueen two and five years.. Other loans - 2-5 years Amounts falling due in more than five years" Repayable by instslments.. Other loans more 5yrs instal 11,667 -18-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS Net Transfers between funds movement in funds At 31.3.25 At 1.4.24 Unrestricted funds Activities for the provision of educational, social, welfare and leisure facilities Designated - Programme Support Designated - Asset replacement fund Designated - Transforming servIs Designated - Adult learning Designated - HCA'S Fixed Assets fund 412,313 49,068 (323,326) 138,055 22,004 81,257 36,000 14.831 2,000 24.004 81,257 36,000 14,831 302,328 302,328 566,405 49.068 (18,998) 596.475 Restricted funds Other external grants and funding P2C Community Business Fund Fashion-workers Advi Bureau Leicester {FAB-L) H-YIF (CiN-Inspiring Futures Programme) P2C Business Development Support Digital Poverty Programme Young Futures (Police Funding) EBL Empower Biz Project Leicester Garments Workers Trust Fund (LGwr) Leic College Support Funds NCS Project Reach Fund Grant UHL NHS All Together Project CIN Core Cost Funding THREADS ERF Match Funding COF Grant 13,371 12,603 4,203 (5,639) 12,000) 2,429 15,574 9,393 25,756 36,987 121,585) 41,158 {36) 36 625 18,015 1108) (625) 118.015) 8,190 9,935 (8,082) 13,196) 6,739 1,203 11,400 7,728 8,597 1.454 (22,186) (3,805) 17,728) (8,597) 11,454) 1,999 9,640 50,566 14,834) 21.585 602 7,595 1,999 9,640 50,566 14,834) 82,186 27,249 128N32 TOTAL FUNDS 648.591 76,317 1) 724.907 -19-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movèment in funds Unrestricted funds Activities for the provision of educational, social, welfare and leisure facilities 268,541 (219,473) 49,068 Restricted funds Other external grants and funding P2C Community Business Fund Fashion-workers Advice Bureau Leicester (FAB-L) P2C Business Development Support Young Futures (Police Funding) EBL Empower Biz Project Leicester Garments Workers Trust Fund {LGidrr) Leic College Support Funds NCS Project Reach Fund Grant UHL NHS All Together Project CIN Core Cost Funding HAF Winter 2024 THREADS ERF Match Funding COF Grant 103,797 199,594 (5,639) 4,203 15,639) 65,734 (28,747) (625) (28,041> (33,889) 36,987 (625) (8.082) (3,196) 19,959 30,693 (22,188) (3,805) (7,728) (8,5971 11,454) (36,333) 13,950) (1,710) (5,434) 14,834) 122,186> {3,805) {7,728) (8,597) (1,454) 1,999 38,332 3,950 11,350 56,000 9,640 50,566 14 834) 329 817 302 568 27,249 TOTAL FUNDS 598,358 522,041) 76,317 -20-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS - contlnued Comparatives for movement in funds Net movement in funds Transfers At 31.3.24 At 1.4.23 funds Unrestricted funds Activities for the provision of educational. social, welfare and leisure facilities Designated - Programme Support Designated - Asset replacement fjjnd Designated - Transforming Services Designated - Adult learning 376.568 42,751 (7.006) 412,313 22,004 81,257 36,000 14,831 22,004 81,257 36,000 14,831 530,660 42,751 (7,006) 566,405 Restricted funds Other extemal grants and funding Asset fund P2C Community Business Fund Fashion-workers Advice Bureau Le1$ter (FAB-L) H-YIF (CiN-Inspiring Futures Programme) P2C Business Development Support Digital Povety Programme Young Futures (Police Funding) EBL Empower Biz Project HAF Summer 2023 Leicester Garments Workers Trust Fund 4,000 245 47.648 9,371 (244) (35,045) 13,371 (1) 12.603 43,617 (2,262) (15,599) 25,756 72 4,120 (108) (5,670) (18,015) (6,203) 9,935 (5.457) (36) 1,550 (18,015) 8,190 9,935 14.393 5.457 (LG) Leic College Support Funds NCS Project Reach Fund Grant UHL NHS All Together Project (14,396) 11,400 7,728 8,597 1,454 15.599 1,203 11,400 7,728 8,597 1.454 114,095 38,915 7,006 82,186 TOTAL FUNDS 644,755 3,836 648,591 -21-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement In funds Unrestricted funds Activities for the provision of educational, soci81, welfare and leisure facilities 212,261 {169,510) 42,751 Restricted funds Other extemal grants and funding Asset fund P2C Community Business Fund Fashion-workers Advice Bure8U Leicester (FAB-L) H-YIF {CiN-Inspiring Futures Programme) P2C Business Development Support Digital Poverty Programme Young Futures (Police Funding) EBL Empower Biz Project HAF Summer 2023 Leicester Garments Workers Trust Fund (LGwr) Leic College Support Funds NCS Project Reach Fund Grant UHL NHS All Together Project CIN Core Cost Funding 23,333 (13,962) {244) (35,045) 9,371 {244) (35,045) 48,859 {51,121) (2.262) (108) (5,670) 145,280) (6,303) (5,850) (25,434) (108) (5,670) (18,015) (6,203) 9,935 {5,457) 27,265 100 15,785 19,977 77,180 11,400 20,501 14.400 2,000 (91,576) (14,396) 11,400 7.728 8,597 1.454 (12,773) (5,803) (546) 39,940) 300 740 339 655 38,915 TOTAL FUNDS 513,001 509 165) 3,836 The specific purposes for which the funds are to be applied are as follows Fashion-workers Advice Bureau Leicester (FAB-L) Support was received to contribute towards the delivery of the FAB-L project, with funding allocated to core operational and overhead costs. The project focuses on community engagement and inclusion initiatives that promote wellbeing and participation among underrepresented groups. Digital Poverty Programme Funding was reiVed from Leicester City Council on behalf of the Leicester and Leicestershire Enterprise Partnership (LLEP) to support the delivery of a Digital Skills Project. The grant was applied to staffing and administration costs associated with developing digital competencies in the local community, in line with agreed milestones and outcomes. -22-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS - contlnued P2C Community Buslness Fund Funding was provided by Power to Change under the Community Business Fund to support capital and revenue initiatives. This included the repl8ment of a minibus, upgrades to music and arts facilities, the recruitment of new staff roles, and a tailored business development programme aimed at enhancing the organisation's long-term sustsinability. H-YIF ¢CiN-Inspiring Futures Programme) Funding was awarded through the Inspiring Futures programme. a joint initiative by BBC Children in Need and the Youth Futures Foundation. The grant supported an employability programme for disadvantaged young people, focusing on confidence-building, life skills development. and pre-employment support including mentoring, accredited training, and work experien. P2C Business Developm8nt Support Power to Change awarded funding to implement organisational infrastructure improvements, including the migration to a cloud-based accounting system and the installation of a Salesforce CRM. These upgrades were designed to strengthen internal financial controls, contact management, and marketing capabilities. Young Futures (Police Funding) Funding was received from the Police and Crime Commissioner for Leicestershire to deliver the "Young Futures project. The programme provides diversionary activities for young people aged 12-24, including creative arts, sport, mentoring. and youth-led events. The project aims to reduce youth violence, enhance communty cohesion, and re*ngage young people with education and positive social neorkS. EBL Empower Biz Project Funding was secured through Leicester City Council from the UK Shared Prosperity Fund {UKSPF) to deliver the "Empower Biz" project. The project provides financial and advisory support to local businesses and aspiring entrepreneurs, with the aim of stimulating economic growth, creating and safeguarding jobs, and improving long-term business sustainability. Roach Fund Grant Funding was received through the REACH Fund to strengthen the organisation's capacity to secure social investment. The grant supported investment readiness work, including governance development, business planning, and financial modelling to improve sustainability and scalability- CIN Core Cost Funding BBC Children in Need awarded funding to support a three-year youth services programme targeting children and young people at risk of exdusion or involvement in crime. The project delivers structured activities focused on improving confidence, mental wellbeing, and access to leaming opportunities, aligned with the "Every Child Matters" framework. THREADS Funding was awarded through a collaborative research initiative led by the University of Essex. The project explores working conditions and rights in the garment sector in the UK and Bangladesh. Highfields Centre contributed to the research through community engagement, dats collection, and knowledge exchange linking grassroots experiences with academic inquiry. -23-
HIGHFIELDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 19. MOVEMENT IN FUNDS - continued ERF Match Funding Support was provided by the Energy Resilience Fund to improve the Centre's environmental sustainability. The funding enabled the implementation of energy efficiency measures and carbon reduction strategies, supporting long-term resilience and alignment with environmental and legal standards. COF Grant Funding was received under the UK Community Ownership Fund for capital improvements to Highfields Centre, including refurbishment works and the creation of a roof garden. The project aimed to improve sustainability, upgrade infrastructure, and increase community use of the facility through enhanced green space. Highfields Arts Project Funding was received through a partnership with Attenborough Arts Centre to delThier the Highfields Arts Project. The initiative engaged local residents in creative activities through workshops, exhibitions, and community-led arts programming. The project supported skills development, festival participation. and the establishment of future funding partnerships for continued cultural engagement. Strengthening Communities Grant Support was provided by The Henry Smith Charity towards the organisation's core running costs over a multi-year period. The fiJnding enabled the continuation of community-based services in Greater Highfields, LeISter, supporting disadvantaged individuals through general overhead coverage. staffing, and infrastructure necessary for service delivery. Creative Futures Project Funding was secured as part of a collaboration led by Voluntary Action Leicestershire to deliver the Creative Futures project. The initiative provided creative skills training, accredited arts qualifications, volunteering opportunities, and employability support for young people, particularly those from underrepresented backgrounds in East Leicester. 20. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31st March 2025. -24-