The Rock - Currock Youth Project IA company Ilmltod by guarantee) Annual Report and Financial Statements 31 May 2024 Company registration number: 05819388 Charity registration number: 1119397 dOdd&co The Rock - Currock Youth Project Contents Reference and Administrabve Details Trustees, report Trustees, responsibilities in relab'on to the ffinancial slalements Independent examinerfs report Statement of finanoal actiwt￿s Balance sheet Notes to the financial statements The Rock- Cum)ck Youth Project Reference and Administrdtive Details Charfty name The Rock- Currock Youth Project Charlty registration number 1119397 Company registratlon numbor 05819388 Princlpal offlce The Rock YoLrth Project Scalegate Road CARLISLE CA2 4JY R&gl8tered office Victoria House Wavell Drive Rosehill 1ndustn.al Estate CARLISLE CA12ST Trustees A Jones J C Wannop C Piercy P M Brovm A P Golding (Resigned 26 July 2023) C A Wills GTod (Appointed 27 November 2023) S J Dockeray (Appointed 28 November 20231 S•crntsry M J Walby Sollcltor Bumetts Victoria House Wavell Dnve Rosehill Estale CARLISLE CA12ST Accountant Dodd & Co Limrted FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW Page 1 The Rock- Currock Youth Projoct Trustees. Report for the Year Ended 31 May 2024 The trustees present their report for the year ended 31 May 2024 which also contains a directors, report as required by company law. Structure, Govemanc• and Managom•nt AA The organisation is a chantable company limited by guarantee. tt was incorporated on 17 May 2006, with company registration number 5819388. the company was established to create and provide quality services, activities and support for young people aged 8 to 18 of the Currock, Upperfoy. and Harraby a￿8$ of Carlisle. A Memorandum of Association estsblished the objectives and powers of the chanlable company, and it is governed under its A￿.¢16$ of Associatson. In the event of being wound up the charity musl donate any property left after settling its debts to any other charity similar objectives, or dispose of its assets in any other way permrtted by the Charity Commission. The directors of the company are also the chanty trustees for the purposes of charity law. The Directorsrrrustees are appointed and have agreed to Serve due to their involvement in and cornmitrnenl to the local area and are as described in the stalutory papers. New tnjstees are appointed based upon the organisation's needs. New trustees are trained by fellow Iwstees to understand théir role within the charity and are provthd wrth guidance relevant to their role. Attracting and retaining Trustees is something that is regularly reviewed, recruitment drives a￿ posted to attract new Trustees to help run the charity. During the year ended 31 May 2024 the follow￿n9 organisalions provthd funding lor the projecfs contsnued delivery, sharing strategic aims and values.. Albert Hunt- funding for core running costs and salar￿6 Allen Lane Foundat￿n- funding for core running Costs and salarbes BBC Children in Neod - funding for salaries Cumbria Communty Foundalion- funding for salaries EC Graham Charitable Trust- funding for general running costs Francis C Scott- funding for salaries and premises cosls Garfield Weston- funding for general running costs Hadfield Trust- funding for equipment purchases Hédley Foundation - funding for soual e￿nts National Lottery- funding for core running costs and salanes Police Commissioner Cumberland- funding for equipment and resources UK Youth fund- funding for general running costs All of Ihe above have prowded funds and have athvety supported our acb"vthes. In addition the charity has received donalions towards general running Costs. ObJfycllvo$ and A¢tlvltloS The principal aims and objects.ves are.. To advance education and to provide or assist in the promsion of facilrties in the interests of social welfare for recreation or other leisure time occupation of indiwduals Ntho have needs of such faulities by reason of their youth. wlh Ihe object of improvtng their conditi'ons of life and thus with the aim of reducing anb"_social behawour and yOLrth disorder Page 2 The Rock- Currock Youth Project Trustees, Report for the Year Ended 31 May 2024 ill To promote such other charitable purposes as may from time to time be determined iiil To continue to seek oul and secure ftjnds for the continuation of the project To support and develop the new staffing team in order that they can continue to provide the high-quality provision for the young people of Curro¢k and the surrounding area To develop our programmes which now have a strong leaming emphasis, where the young people can receive eady qualification and certification for their work vil To continue the broad-based provision on a weekly basis in a safe and secure environment To develop outreach projects along with other partnership organisations to support a wider range of young people and families In fonning their objectives and activities, the trustees have paid due ￿gard to the Charity Commission's public benefit guidance. The trustees have considered the principal risks and uncertaints'es facing the chanty and have mitigaled these as far as possible by having appropriate insur8nce in place as well as ensuring that all staff and volunteers working with young people have DBS checks. A¢hl•vements and Perforniance i) Increased work in local primary schools ii) In¢￿ased numbers attending all weekly activities iii) Increase in volunteers helping the projèct iv) Better relationships be￿88n staff and young people resulting in positive outcomes vl Better links wth the local community vil Oedicated board of trustees Flnan¢lal Revlew This document includes all fijnds held by the project as charity trustees. Our Reserves Policy relates to our general lunrestricted} funds which are freely available lo be used for any or all of the purposes of the project. The organisation requires a minimum level of reserves equivalent lo three months, expenditure is maintained at any time. Other funds are also included for the sake of clarity and openness and to sh¢)W that the project has a policy for the management of all its money not simply those which are defined as ￿ServeS. At the year end, lotal ￿setve$ were £313,110 with restricted reserves being £191,667 and unrestricted reserves being £121,443. Of the unrestricted reserves, £117.664 were free reserve5. The Iruslees aim to look for further fvnding opportunities and continue working towards building new ptsrpose-built premises on the existsng site with the young people who use The Rock having an input into design ideas. After an extensive fund raising period, the total capital needed to order the new building for The Rock Youth Project was raised and also the funding needed for groundworks and other adds on such as electrical supply units and water piping. The new building is built from shipping containers and designed to our specification then fitted out to a high standard inside and outside. The new build wll add a venue for young people to meet safely to leam and share leisure activities enhancing the community in which they live and keeping them safe. Page 3 The Rock - Currock Youth Project Trustees, Report for the Year Ended 31 May 2024 Small company provlslons This report has been prepared in accordance with the small Companies regime under the Companies Act 2006. Approved by the Board on 29 January 2025 and signed on its behalf by.. A Jones Truslee Page 4 The Rock - Currock Youth Project Trustees. Responsibilities In relatlon to the Flnanclal Statements The trustees (who are also directors of The Rock - Currock Youth Project for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. 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 income and expenditure, of the charitable Company for that period. In preparing these financial slatements. the trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimales 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., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable Gompany will continue in business. The trustees are responsible for keeping proper accounting records th81 disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them lo ensure that the financial statements Comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable st8ps for the prevention and detection of fraud and other irrégularilies. Page 5 Independent Examlner's Report to the Trustees of The Rock - Currock Youth Project I report on the accounts of the company for the year ended 31 May 2024, which are set out on pages 7 to 19. Respective re3ponsibllltles of trustee8 and examlner The trustees (who are also the dire¢tors of the company for the purposes of company law) are responsiblè for the Preparation of the accounts. The trustees consider that an audit is not required for this year under section 144{2) of the Charilies Act 2011 as amended by the Charities Act 2022 {the Act) and that an independent examination is nèeded. Having satisfied myself that the charity is not subject lo audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, il is my responsibility to.. examine the accounts under section 145 of the Act., follow the procedures laid down in Ihe General Directions given by the Charity Commission under section 145 (5) {bl of the Act,. and slate whether particular matters have come to my attention. Ba818 of Independent examlnees report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given 8S to whether the accounts present a 'lrue and fair view, and the report is limited to those matters set out in the statement below. Independent examlnerf8 Ststemont In connection with my ex8minalion, no matter has come lo my attenlion.. (1 J which gives me reasonable cause to believe that in any materlal respect the requirements.. to keep accounting records in accord8nce with section 386 of the Companies Act 2006., and lo prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities h8ve not been met.. or (2) to which, in my opinion, attention should be drawn in order to enablé a proper understanding of th8 accounts to be reached. Jq FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW ne nson FCA dd & Co Limited hartered Accountants 29 January 2025 Page 6 The Rock- Currock Youth Project Statement of Financial Activltles (including Income and Expenditure Account) for the Year Ended 31 May 2024 Unr•stricted Restrlcted Totsl Funds Total Funds Funds Funds 2024 2023 Note Incorne and endowments from: Donations and legacies Other income Total income and endowments 56,577 1,833 58.410 146.496 203,073 1.833 204,906 235,508 1,411 236,919 146.496 Expendlture on: Charitable acliwtses Total expenditure 26,627 26.627 83,167 83,167 109,794 109,794 111,621 111,621 Net income before transfers 31,783 63,329 95,112 125,298 Transfers Transfers be￿en funds Net movements in funds 31,783 63,329 95.112 125,298 Reeonclllatlon of funds Total funds brought forward Total funds carried forward 89,660 121,443 128,338 191,667 217,998 313,110 92,700 217,998 All of the Charitys activities derive from continuing operations during the above periods. The notes on pages 9 10 19 fomi an integral part of these financial statements. Page 7 The Rock - Currock Youth Project Company registratlon number: 05819388 Balance Sheet as at 31 May 2024 2024 2023 Nots Fixed assets Tangible assets 10 3.779 2,604 Current assets Debtors Cash at bank and in hand 11 47.274 265.585 312.859 9,325 208.620 217,945 Credltors: Amounts falllng due wlthln one year 12 (3.5281 (2.551) Net ¢urrent assets 309.331 215,394 Net assets 313,110 217,998 The funds of the Charlty: Restrlctsd funds 191.667 128,338 Unrestricted funds Unrestricted income funds 121,443 89.860 Total charity funds For the financial year ended 31 May 2024, the chanty wa5 en￿"tIed to exemption from audit under seth'on 477 of the Companies Act 2006. 313,110 217,998 The members have not reqUI￿d the charty to obtain an audit of its a¢counts for the year in quests'on in accordance y￿th section 476 of the Act. The directors ackn￿edge their responsibilibes for ¢omplw"ng wrth the requi￿rnents of the Act with respect to a¢¢ounting records and the preparats.on of accounts. These accounts have been prepared in accordance wth the provisions applicable to companies subject to the small companies regime. Approved by Ihe Board on 29 January 2025 and s￿ned on its behalf by.. A Jones Trustee The notes on pages 9 to 19 fom an integral part of these finanoal statements. Page 8 The Rock - Cum)ck Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 A¢¢ountlng poll¢le8 Summary of 8lgnlflcant a¢¢ounlln9 pollcles and l(oy accountlng •8tlmat•• The principal accounting poliC￿S applied in the preparatson of these ffinancial statements are set out ￿low. These policies have been consistently applied to all the years presented, unless Othewse slaled. Statom•nl of ¢ompll•n¢• The financial slalements have been prepared in accordance v#ith Accounting and Reports'ng by Charities.. Statement of Recommended Practsce applicable to chanbes prepanng their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffective 1 January 2019} - (Chantses SORP IFRS 102}}, the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20C6. 8a•l• of prgparatlon The ¢hantable company meets the definth'on of a public benefit ents'ty undfrr FRS 102. Assets and liabilitses are initially recognised at histoncal cost or Iransaction value unless otherwise stated in the relevant accounting policy notes. Golng conc•m These financial ststements hab* b8en prepared on a going concem basis. The trustees assess V￿￿ther the use of going concem is appropriate i.e. whether there are any malenal uncertaintses ￿lated to events or conditions that may cast signifi￿nt doubt on Ihe ability of the Charity lo onlinue as a going concem. The truslees make this assessment in resp8Gt of a period of one year from the dale of approval of the financial statements. Fund •ccountlng poIIcy Unr8slrict8d income funds are general fvnd$ that are available for use at the Irustees. discrétion in furtherance of the objectives of the charity. Restricted inwme funds are those donated for use in a parts"cular area or for speciffiG purposes. the use of which is restncted to that area or purpose. Futher detsils of each furKI are disclosed in note 17. Income and endowrn•nts Donations are recognised when the Charity has been notified in writs.ng of both the amount and settlernent date. In the event that a dOnat￿n is subject to conditions that Tequire a level of perfomance by the Charity before the Charity Is entitled to the funds, the income is deferred and not recogni5ed until eilher those conditions are fully mel. or the fulfilmenl of those condth'ons is wholly wthin th8 control of the Charity and is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognise(l on a case by case basis follovding the grant of probats when the administratorlexecutor for the estsle has communicated in wnting both the amount and settlement date. In the event that the gift is in the fom of an asset other than cash or a financial asset traded on a recogni5èd slock exchange, recognition is subied to the value of the gift being reliably measured ￿th a degree of reasonable accuracy and the tit￿ to the asset having been transferred lo the Chanty. Income from Govemment and other grants, whether 'caprtal' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds. any perfomance conditions attached to the grants have been met, It is probab￿ that the income ￿11 be received and the amount can be measured reliably and is not deferred. Page 9 The Rock- Currock Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 . ¢onbnued Expendlturn Liabilities are recognised a5 soon as there is a legal or constructive obligation committing the Charity lo the expenditure. All expenditu￿ is accounted for on an accruals basis and has b8en classifi&d under headings that aggregate all costs ￿lated lo the category. Charitable expendrture cornpnses those costs incurred by the charity in the delivery of rts actiwties arKI services for ils beneficiaries. 11 includes both costs that can be allocated directly to such acts"vities and those costs of an indirect nature necessary lo support them. Support costs Support costs include central functions and ha¥p b￿n allocatsd lo ath.wty cost ￿tegone$ on a basis consist8nl with the use of resources. Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Financé Act 2010 and therefore it meets the definition of a chantable company for UK co￿oration lax purposes. Accordingly, the Charity is potentially exempt from taxation In respect of incom& or capital gains ￿e￿1Ve0 within categories covernd by Chapter 3 Part 11 of the Corporation Tax Act 2010 or se￿lOn 256 of th8 Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusively lo charitable purposes. Flx•d 488•ts Indiwdual fixed assets cosling £100 or more are inrtially recorded at cost. D•proclatOon Depreciatson is prowded on tangible fixed assets so as to WTile off the cost or valuation, less any estsmated residual value, over their expected useful economic life as followb.. Fixtures and fittings Office equipment 15% reducing balance basis 3 years straight line basis Trnd• D•btorn Trade debtors are amounts due from customers for merchandise sokl or services perfomed in thè ordinary course of business. Trade debtors are recognised initially at the Iransaction price. They a￿ subsequently measured at amortised ￿st using the effective interest method, less provision for impaimient. A provision for the impaiThnent of trade deblors is established bthen there is objethve ewdence that the Charity will not be able lo collect all amounts due according to the onginal temis of the Teceivables. Caah and Cash Equlvahnts Cash and cash equivalents comprise cash on harKJ and call deposits, and other short-tenn highly liquid inveslments that are readity converts'ble to a known amount of ￿$h and are subject lo an insignificant risk of change in value. Llabllltle• Trade creditors are obligalions lo pay for goods or services that have been acquired in the ordinary Course of business from suppliers. Accounts payable are dassified as current liabilities If the Charity d￿$ not have an unconditional right, at the end of the reporting penod. to defer settlement of the credrtor for at least tsvelve months after the reporting date. If there Is an unconditional nght to defer settlement for at least tsvelve months after the reporting date, they are presented as norpcurrent liabilities. Trade ¢reditOTS are recognised inttially at the transaction price ancl subsequently measured at amortised cost using the effective interest method. Page 10 The Rock - Currock Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 .. continued Oporating leases Leases in wthich substantialty all the risks and rewards of ownership a￿ ￿taIned by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease tern. Pen$lon$ The charity operates a defined contribution pension scheme. Conlributions are charged in the statement of financial activities as they become payable in accordance wth the rules of the scheme. Financial instruments Financial assets and financial liabilities a￿ re￿nised when the charity becomes a party to the contractual provisions of the instrumenL Financial liabiltb'es and equity instruments are dassified according to the substance of the contractual arrangements entered into. An equty instnjment is any contract that evidences a resHJual interest in the assets of the Charity after deducting all of rts liabilrties. All financial assets and liabilities are initialty measured at transaction pn¢e (including transaction costs). except for those financial assels ¢lassified as at fair value through profit or loss, which are inib'ally measured al fair value (￿leh is nomially the transaction pnce exduding transaclion costs), unless the arrangement constitutes a financing transaction. If an a￿angernent constitutes a financing transaction, the financial asset or financial liabilty is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument Financial assets and liabilities a￿ only offset in the statemenl of financial positron vthen, and only when there exists a legally enfor￿abtre right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and setue the liabilrty simultaneously. Financial assets are derecognised when and only when a} the contractual rights to the cash flows from the financial asset expire or are settled, bl the Charity transfers to another party substantially all of the risks and rewards of ownership of the finanaal asse( or c} the Chartty, despile having retained some, but not all. significant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilit￿S are derecognised onty bthen the otlwats'on specified in the contract is discharged, cance116d or expires. Page 11 The Rock- Currock Youth Project Notes to the Flnancial Statements for the Year Ended 31 May 2024 . conbnued Donations and legacles Unrestricted Restrl¢ted Total Fund8 Total Funds Funds Funds 2024 2023 Donatlons and l¢ga¢ios Grants and donations Appeals and donations Francis C Scott Trust The Hadfield Trust Cumbria Community Foundation Cumbria County Council Garfield Weston Foundation CFM Cash for Kids PCC for Cumbria E C Graham Charitable Trust BBC Children in Need New Build Donations UK Youth Fund National Lottery Albert Hunt Allen Lane Foundation The Hedley Foundation 20.577 20.577 15.500 3,963 7,500 17.716 19,000 15,500 3.963 7,500 37,000 6,594 10,000 4,830 10,000 10,000 2.279 2.279 20,000 28,000 58,254 6,000 20,000 4,000 5.000 2,000 203,073 20,000 20,000 12,000 102,368 6,000 28,000 58,254 6,000 20,000 4,000 5.000 2,000 146.496 56,577 235,508 56,577 146,496 203,073 235,508 Of the donations and legaci8s income in 2023, £58,716 related to unreslricted funds and £176,792 relaled lo restricted funds. Other Income Unrestrlcted Restrlcted Totsl Funds Totsl Funds Fund$ Funds 2024 2023 Other income 1,833 1,833 1,411 All of the other income in 2023 related to unrestricted funds. Page 12 The Rock - Currock Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 . continued Expendltur¢ D•livory of proJ¢¢ts Total 2024 Tolal 2023 Direct costs Wages and salaries Staff pensions Propety costs Project costs Travel and subsistence Legal and professional fees 76.517 1.241 9.956 6,421 1.817 1,368 97.320 76,517 1.241 9,956 6,421 1,817 1,388 97,320 68,717 1.042 9.223 18,250 1,823 13 99,068 Support costs Casual wages Staff training Insurance Telephone and fax Computer so￿are and maintenance costs Printing, postsge and stab"onery Independent examinerfs fee - other services Independent examinerfs fee Bank charges Depreciats'on 1,793 1.551 1.173 2,043 503 218 3,670 600 128 795 12.474 1.793 1.551 1.173 2.043 503 218 3,670 600 128 795 12,474 5,628 435 980 1,156 210 251 3,015 300 159 419 12,553 109,794 109,794 111.621 Of the expenditure in 2023, £33,390 Telated to unrestn.cted funds and £78,231 related to restncted funds. Included Y￿thIn support costs a￿ govemance costs of £4.270 (2023- £3.315). Gov&man¢o costs 2024 2023 Independent examinels fee - other seNces Independent examinels fee 3.670 600 4,270 3,015 300 3,315 Trustees. remuneration and expenses No trustees ￿ceiVed any remuneration during the year. Page 13 The Rock - Currock Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 Continued Net Incomo Net income is stated after charging.. 2024 2023 Depreciation of tangible fixed assels Ind8P8nd8nt examinels fee - other services Independent examinerfs fee 795 3,670 600 419 3.015 300 Employeo8' rnmuner•tSon The monthly average number of peTsons lincluding sénior managem8ntl employed by the charity during the year was as follows.. 2024 No. 2023 No. Charitable activities Th6 aggregate payroll costs of these persons were as follows.. 2024 2023 Wages and salaries other pension costs 76,517 1.241 77.758 68.717 1,042 69,759 No employee received emoluments of more than £60,000 during the year {2023- No. O). The total employee benefits of the key managément personnel of the Charily were £33,868 {2023 £33,712). Taxatlon The company is a registered ¢hanty and is, therefore. exempt from laxation on income and gains. Page 14 The Rock - Currock Youth Project Notes to the Financial Statements for the Year Ended 31 May 2024 . continued 10 Tangible fixed assets Flxtur•s and Fittings Offi¢• equipment Total Cost As at 1 June 2023 Additions As at 31 May 2024 10,468 456 10,924 8,193 1,514 9,707 18,661 1,970 20,631 Depre¢latlon As at 1 June 2023 Charge for the year As at 31 May 2024 8,193 354 8,$47 16,057 795 16,852 441 8,305 Net book value As at 31 May 2024 As at 31 May 2023 2,619 1,160 3,779 2,604 11 Debtors 2024 2023 Prepayments and accrued income 47,274 9,325 12 Credltorn: Amounts falllng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 60 2,491 2,551 3,528 3,528 13 Membern. Ilablllty The charity is a private company limited by guarantee and consequently does not have share caprtal. Each of the members is liable to ¢ontribute an amount not exceeding £10 towards the assets of the chanty in the event of liquidation. Page 15 The Rock - Currock Youth Project Notes to the Financlal Statements for the Year End8d 31 May 2024 . ¢onts'nu8d 14 Opfrratlng leaie commltments As at 31 May 2024 the ¢harity had total future minimum lease payments under non