Charity registration number 1196648 (England and Wales) Company registration number 06021283 NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
NEW HEIGHTS- WARREN FARM COMMUNITY PROJECT LEGALAND ADMINISTRATIVE INFORMATION Chaimian Mr S Flynn Dire¢tory Mr S Ftynn Mr J Lowe Mr J McGonnan Mr M Daly Mr J Head Mrs S L Byme Mrs C Gutteridge Mrs S Cross Mrs M Lordan Mrs C Walker Trustees Mr S Flynn Mr J Lowe Mr J McGomian Mr M Daly Mr J Head Mrs S L Byrne Mrs C Gutteridge Mrs C Walker Secretary Mrs S L Byme Associate Thè Quang Nguyen Charity number 1196648 Company number c021283 Regislered office 124 Wdrren Fami Road Kingstanding Bimingham B44 OQN Independent examiner Edwards Accountants (Midlands) Limited 34 High Street Aldridge Walsall West Midlands WS9 8LZ
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT CONTENTS Page Trustees. report Independent examinerfs report Statement of financial activtlies 10 Balance sheet 11 Notes to the financial statements 12-20
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and finanrial statements for the year ended 31 December 2024. 1 would like to thank all the slaff. trustees and volunteers for their work during this year. As a charity we are proud that we have been supported by so many funders in the last year induding National Lottery, Henry Smith. Stjtton Coldfiejd Municipal Charitable TTUSt, Bimiingham Cty Councal, Children in Need, William Cadbury and many others. The ac¢ounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's goveming document, the Companies Act 20( and the Statement of Recommended Praclice, 'Accounting and Reporting by Chartlies" issued in March 2005. Structure, governance and management The Company is registered as an incorporated charity (charity no. 1196648). The trustees. who are also the directors for the purpose of company raw, and who sarved during the year and up to the date of signature of the financial statements were- Mr S Flynn Mr J Lowe Mr J McGorman Mr M Daly Mr J Head Mrs S L Byrne Mrs C Gutteridge Mrs S Cross Mrs M Lordan Mrs C Walker (Resigned 7 February 2025) (Resigned 7 February 2025) None of the trustees has any beneficial interest in the company. of the trustees are members of the company and guarantee to contribute an amount not exceeding £10 in the event of a winding up. The company's current policy conceming the payment of trade creditors is to follow the CBI'S Prompt Payers Code (copies are available from the CBI, Centre Point. 103 New Oxford Street, London WC1A 1 DU). The company's current policy conceming the payment of trade creditors is to.. settle the temis of payment wrth suppliers when agreeing the temis of each transaction,. ensure thal suppliers are made aware of the terms of payment by inclusion of the relevant temis in ntracts.. pay in accordance with the mpanY$ contractual and other legal obligations. The charity continues to re1ve support from Christ the King Catholic Church. lfjngstanding. We also Work in partnership with other local charities.
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Our aims. objectives. vision and activities Our charity's purposes are set out In the objects contained in the charty's trust deed. CharityAim To meet the needs of the most disadvantaged members of the lQ"ngstanding communty and to help to bring about social cohesion. Objectives 1. To relieve elderly people resident in the lfjngstanding ¢ommunty who a in need in any manner as the trustees may from time to time determine. 2. To act as a resource for young people living in the Kingstsnding communty by providing advice and assistance and organising programmes of Physical. educational and other activities as a means of '. (a) Advancing in life and helping young people by developing their skills, capacrti'es and capabilities to enable them to participate in SOCAety as independent,mature and responsible indimduals. (b) Advancing education. (c) Relieving unemployment. (d) Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth. age . infimirty or disabilty, povety or social and economic circumStanS with a view to improving the conditions of life of such persons. 3. To advance the education of and preserve and protect the health of parents, particJJlarty vulnerable parents. 4. For such charrtable purposes as the trustees may from time to time determine. Our vision New Heights Charity is "A welcoming oasis for the whole community, supporting personal improvement, stronger family life. community cohesion and those in the most need." Strateglc Plan Qur project manager Shantel Carty has led us very effectivety duting the year. She has been very successful in building new links and relationship5 wrttj new partners. It is for example great to see our links with local schools becoming stronger. We continue to use and monttor the effectrveness of a 3 year development plan. The Board considers the development plan which runs from Jan 202&D8mbar 2026 at eath me¢tin9 and reewS progress made In the achievement of agreed objectives. It has proved to be a very useful tool. This approach helps us to.'_ Ensure our activities remained focussed on our stated charity objects Review policy & procedure and update documents & training Ensure that safeguarding has a high priority. We have referred to guidan contained in the Charity Commission's general guidance on public benefft when reviewing and planning our activities. In particular, the trustees consider how planned activities will contribute to meeting the aims and objectives.
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Internal control risks are minimised by the implementation of procedures for authorisalion of all transadions and projects. Procedures are in place to ensure compliancE with health and safety of all slaff, volunteers. clienls and visitors to the Centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of the Chartty. How our activities deliver public benefrt Our main activities and those who we try to help are described below. All our charitable acb'vities focus on working with people in the Kingstanding Wdrd and surrounding area vtho are liwng in Challenging orcUmstans. To meet the charlty's objectives we deliver a rdnge of services including: Domestic Abuse Counselling Service ' Advice & Advocacy Serv1 on Welfa, Disabilty. Housing & Employment 'Community Cafe, _ induding opportunities for volunteer5 lo gain accredited qualifications. . Luncheon Club, Be-friending & Tai Chi Monthly Community Meals & Festival Celebrations (Christmas Day & Easter Sunday) 'Lest we Forget, Dementia Choir 'Imagine' mental health support group . New Heights Youth Forum . Youth Social Action projects, communty letters and (ards of kindness Community Consultation . Slow Cooker cookn'ng sessions Wellness Wednesdays . Community and Educational Trips e.g. to House of Padiament. theatre. garden centres, Weston Super Mare • Arts & Crafts . Meeting room for communty groups . Seated Exercise Support to Children and Families
School Holiday Yoirth Social Athon, actwty packs Toy giveaway at Christmas Free School Holiday Children's MMUnty meals Crochet and Quiz Group Parenl & Toddler stay and play sessions Monday & Friday To enhan¢e community support within the Gharity's objectives we facilitate delivory of activities by partners including".- Education support (Maths, English, scien & IT dasses) . Alcohol support meetings (AA & Al-anon) Health Eating group Narcotics Anonymous Homestart irmingham Mind . B2Work Thrive Bimiingham Adult Education North Birmingham 4 Ukraine
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Who used and benefited from our services? One of our strategies is to engage with other providers and help them reach their target benefioaries. This has led us into strong partnerships wtlh Kingstanding Thursday Club. Imagine (Mental Health Self Help Group), Alcoholics Anonymous, Al-anon, as well as many others. We offer them good meeting facilrties. networks, promotion of their SeNiS and inter-agency contacts. Through our own nelwork of volunteers, newsletters, website. notifx-boards. social media, referrals system and word of mouth, we are able to give our partners access to the people they wish to serve. We have also developed our partnership working approach, and now represented on key strategic boards including Bimiingham North Local Community Safety Partnership Board. Bimingham North Domestic Abuse Forum and 'Spifit of Kingstanding, group. We remain committed to delivering a range of servjces and activites which meet local needs. The Community Cafe building provides office facilities for the NEST project offering Domesb"c Abuse Counselling servIs and benefits advice. Other activities delivered by charity volunteers. supported by a small staff team, are delivered from both the Community Cafe and Sl John's Centre. All of Ihese initiatives allow us to meet people who might need direction to another service and lo provide stronger cvmmunity cohesion. There are thousands of people in Kingstanding Ward who have benefitted from the services through New Heights Charity. Outreach The outreach work of the charity provides support to vulner2ble adults living in our community. In partnership with the St Vinnt De Paul Society and Christ the King Parish approximately 80 people are visited at home, most of these are house-bound due to disability or illness. This Se. is provided by volunteers. We offer 2 signposting service to other organisations that can provide help and support to local people. Challenge going forward: One big challenge facing all charities is fund raising. There are more charities and the pool of grants they are bidding into has diminished. At the same time the need across the country has increased. The lives of disadvantaged people living within our communrty Cntinue lo be significantly impacted by the ongoing 'Cost of Living, Grisis which is increasingty impacting individuals and families. We carried out a major survey in the Autumn of 2024. This showed us that some of the key concems in Ihe community are- financial issues. cost of uts"Itties, isolation. mental health. loneliness and well_being. This survey highlighte¢J that, in our communty people feel unimportant. undealued and are lacking in confidence. This suNey highlighted that there is a need for the work that we undertake and that we need to keep on developing this. For older and disabled people 'Normal Life. is (Jntinuing, amongst other things to be impacted by the 'Cost of Living, Crisis. including.. Increased Foodl Heating poverty . Closure of activrt]"es previously run by other churchlcharitylwmmunity group5. . Access to key services We need to look at continuing to offer opportuntties to volunleers and ensure that we are offering a broad range of activities to the community. Financial review By prudent management and successful bidding for frjnds. the Charrty is in a sound financial position. Shantel Carty (Project Manager) led the team and dealt with the financial issues in partnership wilh Mike Daly, one of the trustees.
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Currently, there are no investments other than buildings with reserves sufficient to meet the current working capital requirements of the charity. Our main source of regular unrestri¢ted income conb.nues to be from service provtdets who use our premises and volunteer-led fundraising activities. This unrestn'cted income covers our buildings maintenance and and running costs.. this income however. it has been somewhat impacted by the continuing 'Cost of Living, crisis. It is to be noted that unrestricted income has slowly increased as the activities offered at the Cafe site continues to expand. and the expectation is that there will be further improvement in 2025. Funding for staff comes from grant maktng bodies. The fact that in the main setvtces and activities are delivered by volunteers and we have a few paid members of staff makes this more sustainable. We continue to seek new partners,and the sèrwces they provide, as a tOU9h ewnomic dimate naturally causes more needs amongst the Community we serve, espeaally in Kingslanding. an area of major deprivation. Plan8 for the future The Charty Board stralegy is to keep staffing costs at levels ttjat will not impose financial and structLrral risks to the charity. This is complemented by a wsion that plaS worknng in partnership as another key component in making our chartty both effectrve and sustainable. Mile working with volunteers also has its challenges, this fomis the third elemenl in a wsion that marries financial strategy wtth a vision for the community that invites the communty lo play a key part in solvrng its own problems. We continue to seek partnerships and opportunities for l¥ll1eS and support which will add to our vision for our area and the communty. Operating reserve policy l. Purpose The purpose of this new Operating Reserve Policy for New Heights- Warren Farm Community Project is to build and maintain an adequate level of unrestricted net assets to support the organisation's day to day operations in the event of unforseen shortfalls. The resepie may also be used for one-time, non-recurring expenses that will build long-temi capacity. such as staff development, research and development, or investment in infrastructure. Operating reserrfes are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. The organisation intends for the operaling reserve to be used and replenished within a reasonable period of time. This Operating Reserve Policy will be implemented in conjunction with the other financial policies of the organisation and is intended to support the goals and slrategies contained in those related policres and in strategic and operational plans.
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 11, Definitions and goals The operating Reserve Fund is defined as the designated fund set aside by the adion of thÈ Board of DireCtorSrUstees. The minimum amount to be designated as operating reserve will be established as an amount sufficient to maintain ongoing operations and projects for a set period of time, measured in months. The Operating Reserve serves a dynamie role and will be reviewed and adjusted in response to intemal and external changes. The target minimum Operating Resen Fund is equal to 6 months of average cUTTing unrestricted operating costs. In addition to calculating the actual operating reserve at the financial yearnd, the operating reserve fund target minimum will be calculated each year after approval of the annual budget. These reserves will be reported to the Board of DirecOrsrUsteeS and included in the regular financial reports. 111. Accountin9 for Reserves The Operating Reserve Fund will be recorded in the accountin9 System and financial statements as a Board Designated Operating Reserve. The Operating Reserve Fund will be fvnded and available in cash or cash equivalents. Operating reserves will be maintained in a separate bank acca)unt. IV. Funding of Reserves The operating Reserve Fund will be funded with surplus unrestricted operating funds. The Board of Directorstrrustees may. from time to time. direct that a spacific source of revenue be set aside for operating reserves. Examples may indude one-time gifts or bequests, special grants. or special appeals. The chair and TreasLJrer will identfy the need for a¢sS to reserve funds and confinn thal the use is consistent with the purpose of the reserves as described in this Operating Reserve Policy. Delemiination of need requires analysis of the sufficiency of the cJJrrent level of reserve funds . the availabilty of any other sources of funds before Lrsing reserves. and evaluats'on of the time period for which the funds will be required and explained. V. Authority to use operating reserves Authority for the use of operating reserves is delegated to the Chair and Treasurer in consultstion Mth the other Tfustees included on the Bank Mandate. The use of operating reserves 11 be reported lo Ihe Board of Directorstrrustees at their next scheduled rneeting. ampanIed by a description of the anaylsis and determination of the use of the funds, and plans for replenishment to restore the Operating Reserve Fund to the target minimum amount. The Chair must receive prior approval from the Board of DirectotsruSIee$.
NEW HEIGHTS- WARREN FARM COMMUNITY PROJECT TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Vl. Reporting and Monitoring The Chair and Treasurer are responsible for ensuring thal the Operating Reserve Fund is maintained and used only as described in Ihis Policy. Upon approval of the use of operating reserve fvnds, the Chair and Treasurer will maintain reo)rds of the use of the funds and plan for replenishment. They will provide regular minimum amount. The Chair and Treasurer together wtlh Trustees will annually discuss what addttional risk factors might be considered for the organisation, the impact of budgeting on operating reserve levels, and any requirements of extemal funding organisations. Vll. Relationship to other policies The Chair and Treasurer shall maintain the following board-approved polie$, which may contain provisions that affect the creation, sufficiency, and management of the Operating Reserve Fund. Risk Management related poliejes and tools lo minimise risk. including Contingency or Disaster Preparedness Plan • Policies related to Operating and Capital Budgeting Fund development Policies Vlll. Review of Policy This policy will be reviewed by the DirectOtsrusleeS every 12 months at minimum. or sooner rf vrranted by internal or extemal events or changes. Changes to the policy will be agreed by the Board of Directorsl Trustees. This policy. upon every revision must be distributed by the DirectOrsrUsteeS to the responsible Staff 2nd any other interested parties. The treaSUr 109elher with the Board of Directorsffrustees are responsible for the recommendatson of financial policies. strategies, and budgets that support the mission. values and stralegic plan of the organisation. Its purpose is to ensure that the financial health and integrity of the organisation in pursuit of its mission to meet the needs of the most disadvantaged members of the Kingstanding community and to help to bring about socjal cohesion.
NEW HEIGHTS - WARREN FARM COMMUNrrY PROJECT TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees. ResponslbHIIIos The trustees. who are also the dire(ors of New Heights- Warren Fami Comunty Project for the purpose of company law. are resFonsible for preFwing the Trustees. Report and the financial statements in aOran with applicable law and United Kirgdom Ac(x)unting Standards Iunited lfjn9(lom Generalty Accepted Accounting Prathice). Company Law requires the ITUStees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the irKoming reSrS arKI appliolion of resources. including the incom8 and 8xpenditure. of the charitable compary for IIHt w. In preparing these financi81 statements. the trustees are required to." ' select suitable acnting polic4es and then appty them C£nty. • observe the methrxls and ptincits in the Charities SORP." • make Judgements and estimates that are reasorbk and wwler¢ ' state whether applicable UKA(mJnting Standards have been subject to any materFal departures disdosed and expIr1 in the financial statements: and . prepare the finanaal statements on the going con¢xn basis unless it is inappropriate to tKesume that the chartty will continue in op8r*ion. The trustees are responsible for keeping adequate accountirYJ re{ that disdose with reasonable accuracy at any time the financial positk)n of the charity and enable them to ensure that the financial stataments comply with the Companies Act 2006. They are also resF¥)nsible for safeguar(ling the assets of the tharity and heno for taking reasonable steps fi)r the prevenb.on and detecltion of fraud and other irrpgularities. Th8 trustees, report was approved by the Board ol Tnjstees. Mrs C Gutteridge Trusteelchairperson Dated.. 26 June 2025
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW HEIGHTS . WARREN FARM COMMUNITY PROJECT I report to the trustees on my examination of the financial statements of New Heights - Warren Farm Community Project (the trust) for year ended 31 Dember 2024. Responsibillties and basis of report As the truslees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordan wrth the requirements of the Companies Act 2006 (the 2006 Act). Havrng satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Acl and are eligible for independent examination. I report in respect of my examinalion of the trust's financial statements carned out under section 145 of the Charrties Act 2011 (the 2011 Acl). In carrying out my examination I have followed all the applicable Directions given by the Charty Commission under SelOn 14515){b) of the 2011 Act. Independent examiners statement Since the trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examinalion because l am a member of ICEAW, which is one of the listed b¢xlies. I have completed my examination. I confimi that no matters have me to my attention in connection with the examination giving me cause to believe that in any material respect". accounting records were not kept in respect of the trust as required by seGtion 386 of Ihe 20 Act.. or the financial statements do not accord with those records,. or the financial slatemenls do not comply with the accounting requirements of section 3 of the Companies Acl 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter Considered as part of an independent examination; or the financial statements have not been prepared in accordan WFth the methods and principles of Ihe Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Finan(ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this re rt in order to enable a proper understanding of the financial statements lo be reached. u) Ed¥rdS Accountants (Midlands} Limited 34 High Street Aldridge Walsall West Midlands WS9 8LZ 26 June 2025
NEW HEIGHTS- WARREN FARM COMMUNITY PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrictsd R•strictÈd fund8 funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Income from: Donations and legacies 29.688 343.921 373.609 21.192 289,316 310.508 Expenditure on: Raising funds Charitable activities 8,295 33.836 8.295 377,386 343,550 4,330 37.683 4.330 327,412 289,729 Total expenditure 42,145 343.550 385,695 42.013 289.729 331.742 Net movement In funds before deprecation (12.45n 371 (12,086) (20,821) (413) (21,234) Depreciation 45 27,665 27.710 59 27,665 27,724 Net movement In funds after depreciation (12,502) (27.294) (39,796) (20,880) (28.078) (48.958) Recon¢iliation of funds.. Fund balances at 1 January 2024 99.733 326.358 426,091 120.613 354.436 475,049 Fund balances at 31 De¢èn7bgr 2024 87.231 299, 388.295 99,733 326,358 426.091 The statement of financial a¢tivrties indudes all gains and losses recognised in the year. All income and expenditure derive from wntinuing activities. 10-
NEW HEIGHTS- WARREN FARM COMMUNITY PROJECT BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Fixed assets Tangible assets 272.263 299,973 Curr•nt assets Debtors Cash at bank and in hand 10 63 286.285 275,499 Creditors.. amounts falling duè Within one year 286,348 11 275,499 172.316 149.381 Net current assets 114.032 126,118 Total a33ets less curront liabllitt•s 426,091 The funds of the the trust R8Stricted income funds Unrestricted funds 12 326.358 99,733 87.231 386.295 426,091 The company is entiued to ttie 8xemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year endod 31 Deomber 2024. The directors acknowledge their respcwbrlities for fJ)mthrwJ vKth the requireiiwts of the Companies Act 2006 with respect to a¢xixJnting recorrjs and the prepa1¢ of finan(aal statements. Tho members have not required the company to obtain an aurfrt of its financaal statements for the year in question in accordance viith section 476. These financial ststements have been prepared in acC(Kdan with the provisions applicable to mpanIeS subject to the small companies regime. The financial statements wére approved by the Injstees on 26 2025 Mrs S L Byme Trustao Mrs C Gutteridga Tts? Company registrabon number Q6021283 (England and Wales) 11
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information New Heights - Warren Fami Community Project is a private company limited by guarantee incorporaled in England and Wales. The registered Offi is 124 Warren Farm Road. Kingstanding. Birmingham. B44 OQN. 1.1 Accounting conventlon The company is established under a memorandum of assoctation which sets the objects and powers of the organisation and is govemed under il articles of assooation. The accounts have been prepared in accordance with the Companies Act 2006 and the°Accounting and Reporting by Charities.. Statement of ReGommended Praclice applicable to charitie8 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102>- (as amended for a¢Gounting periods commenctng from 1 January 2016). The charrty is a Public Benefft Entity a5 defined by FRS 102. The charty has taken advantage of the provisions in the SORP for charitses apptying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the fvnctional CUenCY of the the trust. Monetsry amounts in these financial statements are rounded to the nearest £. The financial statements have been ppared under the historical cost o)nvenlion. [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Going concèrn At the lime of approving the financial statements, the tnjstees have 2 reason2ble expectation that the the trust has adequate resour$ to continue In operational existence for the foreseeable future. Thus the trustees continue to adopi the going concem basis of accounting in preparing the finanrial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitsble objectives. Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted fijnds Can only be used for partjcular reslricted purposes wrthin the objects of the charity. Restrictions arise when specified by the donor or when ftjnds are raised for the particular restricted purposes. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the tho trust. 1.4 Incoming resourceg Income is recognised when the the trust is legally entrtled to tt after any perfOnanCe conditions have been met, the amounts Gan be measured reliably, and tt is probable that incA)me will be received. Cash donations are recognised on receipt. Other donations are recognised once the the trust has been notified of the donation, unless perfonnan¢e conditions require deferral of the amount. Income tax recoverable in relation to donats'ons reVed under Gtft Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the the trust has been notified of an impending distn"bution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conb"ngent asseL 12-
NEW HEIGHTS- WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poliGies (Continued) 1.5 Resources expended Expenditure is recognised once ihere is a legal or constructive obli9alion to transfer economic benefft to a third party. rt is probable that a transfer of economic beneffts will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each actNity are made up of the total of direct costs and Shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activty are allocated directly to that activity. Shared costs which conlribute lo more than one activity and support cosls which are not attributable to a single activty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the assefs use. Expenditure is recognised once there is a legal or construcb.ve obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic beneffts will be required in setttement. and the amount of the obligation rn be measured reliably. Expendtture is dassffied by actiwty. The cosls of each activity a made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single actlvlty are allocated directly to that activty. Shared Cosis which contribute to more than one activity and support costs which are not attributable to a single activrty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprecialion charges are allocated on the portion of the asset's Use. 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subsequenlly measured at cost or valuation, net of depreciation and any impairment losses. Oepreciation is recognised so as to write off the cost or valuatN)n of assets less their residual values over their useful lives on the following bases= Leasehold land & buildings Fixtures, fittings & equipment 25 year lease temi 25% reducing balan 1.7 Impaimient of fixed assets Al each reporting end date, the the trust reviews the carrying amounts of tts tangible assets to deterrnine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion exists. the recoverable amount of the asset is ests-mated in order to detennine the extent of the impaiment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-tem liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The the trust has elected to apply the provisions of Secbon 11 'Basic Finanaal Instmments. and Section 12 'Olher Finanoal Instruments Issues. of FRS 102 to all of rts financial instruments. Financial instruments are recognised in the the trust's balan{* sheet when the the trust beGomes party to the ntractual provisions of the instrument. FinancJ"al assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legalty enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and séttle Ihe liabilty simultaneously. 13-
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequenuy carried at amortised cost using the effective interest method unless the arrangement ¢onstrtutes a financing transaction, where the transaction is measured at the present value of the fLJture reiptS discounted at a market rate of interest. Financial assets dassified as re[Vable within one year are not amortised. Basic financial liabilities Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabiltties dassified as payable wrthin one year are nol amortised. Debt instruments are subsequently carried at amortrsed cost, using the effective interest rate method. Trade creditots are obligations to pay for goods or serviS that have been acquired in the ordinary course of operations Irom suppliers. Amounts payable are dasstfied as current liabilrties if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cosl using the effecb.ve interest method. Dere¢ognition of financial liabilitles Financial liabilities are derecognised when the the trusfs contractual obligations expire or are discharged or canolled. 1.10 Employee benefits The cost of any unused holiday entitlement is reGognised in the period in which the employee's services are received. Temination benefits are recognised immediately as an expense when the the trust is demonstrably committed to temiinate the employment of an employee or to provide temiination benefrts. 1.11 Retirement benefits Payments to defined contribution retirement benefft sc*emes are tharged as an expense as they fall due. Critical aGcounting estimatos and judgements In the application of the Ihe Irusrs ac(tunting polictes. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabiltties thal are not readily apparent from other sources. The estimates and associated assumptions are based on hislorical experien and other factors that are considered to be relevant. Actual results may differ from these ests'mates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountin9 estrmates are r¢Gognised in the pertod in which the eslimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. 14-
NEW HEIGHTS . WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted funds funds Total 2024 Total 2023 Grant Income Other income 7.089 22.599 343,921 351,010 294,070 22.599 16,438 29.688 343,921 373.609 310,508 For the year ended 31 December 2023 16.438 294,070 310,508 Grants received BVSCUK EMPLOYMENT BVSCUK ESOL 4000 Big Lottery Henry Smith William Cadbury NDSU BCC Income Maximisation Fund Trusthouse Charitable Foundation Children in Need Fund FCC Communities Trust Food Provision Top Up Fund Albert Hunt Trust Winter Food Aid BCCFA Arthur Clarke Fund BVSCUK MOVE ON AFA Hub Commonwealth Games Legacy BLRC Cap The Sutton Coldfield Charitable Trust Eveson Charitable Trust KFCYF Communrty Fund Robert McAlpine M&S Fund Garfield Weston BVSCUK WELL BEING MW Mayors Weekend R&DTumerCT 11,014 34.830 138,646 33,800 3,900 11.014 6,500 34.830 4,284 138,646 157,329 33,800 7,200 3,900 6.100 4,000 10,610 10,610 8,302 12.500 15,000 2.250 4,OCM) 12.500 2,250 4,000 2,000 1,800 1,200 805 16.000 24,700 10,000 1,100 1,000 2,321 2,135 7.200 7.200 16.000 3.051 7.485 2.500 12,800 3,051 7.485 2,500 12.800 9.041 1.000 6,100 28,979 10,002 1,000 1.000 1.900 1,000 5,498 6,600 615 2.001 28,979 1,000 1.900 Heart of England Children Grant Thrrve Together Birmingham Baron Davenport Wami Welcome Grant Cole Charttable Trust R & D Tumer Meals Weslern Power Holiday Meals Sainlbury Trust Core Costs Patrick Trust Youth Social Adion Olher income 5,498 6,600 615 2,001 867 500 521 500 521 807 800 1,166 3,754 500 1.091 1.091 15-
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies (Continued) Other grants received < £500 1.219 1,219 2.847 7,089 343,921 351.010 294,070 Other income Cafe Takings Lettings St Johns Donations Others 7.666 14,146 7.490 1,318 2,170 787 12.597 14.146 787 22,599 22,599 16,438 Raising funds 2024 2023 Fundraisin Seeking donations, grants and legaries 8,295 4,330 8,295 809 The cost of raising funds represents trading costs in relab'on to the ce and indudes cafe purchases and vending ServIS in relation to the cafe trade. 16-
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 S Charitable actlvities Warren Fami Staff Project Costs Costs Depreciation Total 2024 Total 2023 Staff costs Depreciation - Leasehold Property Depreciation of fixtures and Fittings Water. rates and Insurance costs Light and Heating costs Repairs and Maintenance costs Telephone and Postage costs Sundry costs Volunteer and travel expenses Cafe Repairs and maintenance Legal advice service Legal and Professional Costs 193.212 193.212 202,984 27,665 27,665 45 59 12,072 12,694 14.623 7,970 11,528 7,719 6,823 4,960 6,217 1,926 855 96 4,591 1,097 99.551 72,338 27.914 15,628 27.665 45 12,072 14,623 11.528 6.823 6.217 855 4.591 99.551 27,914 184.174 193.212 27,710 405,096 355,136 184.174 193.212 27,710 405.096 355.136 Analysis by fund Unrestricted funds Restricted funds 33.836 150,338 45 27,665 33.881 371,215 193,212 184.174 193,212 27.710 405,096 For the year ended 31 December 2023 Unrestricted fvnds Restricted fvnds 37.683 86,745 59 27.665 202.984 37,742 317,394 124,428 202,984 27,724 355,136 Trustees None of the trustees (or any persons connected wrth them) received any remuneralion or beneffts from the trust dunng the year. 17-
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees 2024 Number 2023 Number Project staff 11 12 Employment Gosts 2024 2023 Wages and salaries (incl social security costs) 193.212 202,984 There were no employees whose annual remuneration was £60.000 or more. Taxation The tharity is exempt from corporation tax on its charitable acttvtties. Tangible fixed assets land & buildingg Total gqulpment Cost At 1 January 2024 691.367 17,622 708.989 At 31 December 2024 691.367 17,622 708.989 Depreciation and Impairniont At 1 January 2024 Deprea*ion charged in the year At 31 December 2024 391,571 27,665 17,445 45 409,016 27,710 419,236 17,490 436,726 Carrying amount At 31 December 2024 272.131 132 272,263 At 31 December 2023 299.796 177 299,973 10 DgbtopJ Amounts falling due within ono year. 2024 2023 Trade debtors 63 18-
NEW HEIGHTS - WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Creditor5: amounts falllng due wlthin one year 2024 2023 Trade creditors Other creditors Accwals and deferred income 3,086 165,100 4.130 3,065 141,996 4,320 172,316 149,381 12 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specrfic conditions by donors as to how they may be used. At 1 January 2024 Incoming resources Resources expended At31 December 2024 326.358 343,921 (371,215) 299,064 Prnvious year". At 1 January 2023 Incoming resources Resources expended At31 DeGember 2023 354,436 289.316 (317,394) 326,358 13 Unrestricted funds The unreslried funds of Ihe charrty comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended At31 December 2024 General funds 99,733 29.688 (42,1) 87,231 Previous year. At 1 January 2023 Incoming Resources resources expended At31 Docember 2023 General ndS 120,613 21.192 (42.072) 99,733 19-
NEW HEIGHTS-WARREN FARM COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Analysis of net assets between funds Unrestricted funds Restricted funds Total Fund balances at 31 December 2024 are represented by.. Tangible assets Current assetsl(liabilities) 132 46,407 272,131 67,625 272,263 114,032 46.539 339,756 386.295 15 Rglatod party transactions There were no disGlosable related party transactions during the year (2023- none). Remuneration of key management personnel 2024 2023 Salary and soaal security costs 38,433 38,284 16 Cash generated from operations 2024 2023 Deficit for the year (39,796) {48,958) Adjustments for.. Depreciation and impaimient of tangible fixed assets 27,710 27,724 Movements in working capital: (Increase) in debtors Increase in creditors (63) 22,935 4,111 Cagh generated froml(absort)ed by) operations 10.786 (17.123) -20-