**REGISTERED COMPANY NUMBER: 04937256 (England and Wales) REGISTERED CHARITY NUMBER: 1121008**
**Report of the Trustees and**
**Financial Statements For The Year Ended 31 October 2023**
**for**
**Newent Association for the Disabled**
Kingscott Dix Limited Chartered Accountants and Statutory Auditor Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
**Newent Association for the Disabled**
## **Contents of the Financial Statements For The Year Ended 31 October 2023**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||||
|**Report of the Trustees**|1|to|5|
|**Report of the Independent Auditors**|6|to|8|
|**Statement of Financial Activities**|9|to|10|
|**Group and Charity Statement of Financial Position**|11|to|12|
|**Statement of Cash Flows**||13||
|**Notes to the Statement of Cash Flows**||14||
|**Notes to the Financial Statements**|15|to|27|
|**Detailed Statement of Financial Activities**|28|to|29|
## **Newent Association for the Disabled**
## **Reference and Administrative Details For The Year Ended 31 October 2023**
|**Trustees**|M P Edwards|
|---|---|
||Dr I A Cocks|
||Mrs M Woods (Deceased 18 February 2023)|
||Mrs P C Hales|
||D Coombs|
||Dr R N Baldwin|
|**Charity number**|1121008|
|**Principal address**|Sheppard House|
||Onslow Road|
||Newent|
||Gloucestershire|
||GL18 1TL|
|**Auditor**|Kingscott Dix Limited|
||Chartered Accountants and Statutory Auditor|
||Goodridge Court|
||Goodridge Avenue|
||Gloucester|
||Gloucestershire|
||GL2 5EN|
|**Bankers**|The Cooperative Bank|
||PO BOX 250|
||Delf House|
||Skelmersdale|
||WN8 6WT|
**Newent Association for the Disabled (Registered number: 04937256)**
## **Report of the Trustees For The Year Ended 31 October 2023**
The trustees present their report and financial statements for the year ended 31 October 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019.
## **OBJECTIVES AND ACTIVITIES**
The principal objectives and aims of the Charity remain to relieve physically disabled persons within Newent and the surrounding area by the provision of transport and such other means as the Association may from time to time determine and to provide recreational facilities for such persons in the interests of social welfare with the object of improving their condition of life.
## VISION
Newent Association for the Disabled wants to ensure through its service provision that quality of life is maintained for older and disabled people living in the North Forest Area.
## MISSION
Newent Association for the Disabled's mission is to:
- Offer older people and people with disabilities a range of services to help improve their quality of life - Pioneer innovative and creative responses to meeting the needs of older people and people with disabilities.
- Offer high quality services which meet the specific needs of older people and people with disabilities
## AIMS
Providing high quality direct services to older and disabled people in the North Forest area
By providing a gold class community transport service through our fleet of vehicles
Responding to the needs of older people from communities in the catchment area.
Creating an effective and efficient organisation with sufficient income to sustain and develop our essential services that all stakeholders are committed to.
## **Public benefit**
The charity looks to achieve these objectives, whilst demonstrating its charitable purpose for the public benefit by the provision of activities and clubs at Sheppard House in Newent and transport through the Dial A Ride facility.
The trustees consider that they have complied with their duty to have due regard to the public benefit guidance when exercising any powers or duties to which the guidance is relevant.
Page 1
**Newent Association for the Disabled (Registered number: 04937256)**
## **Report of the Trustees For The Year Ended 31 October 2023**
## **ACHIEVEMENTS AND PERFORMANCE**
The Board of Trustees has a duty to undertake discussion and make recommendations on constitutional and strategic issues all within the context of its mission.
Each trustee has a special interest e.g. Human Resources, Finance, Transport, and Medical. The Board of Trustees are conscious of the unpredictability of its public sources of funding and as such seeks to keep a level of unrestricted reserves so that it can meet any shortfall of income over expenditure.
Income to the Association comes from a variety of sources, donations, legacies, sale of merchandise through the Charity Shop with Gift Aid collected, contractual through GCC with schools' transport, community transport with shuttle service, trust funding with grants for specific projects and direct payments from clients using the Sheppard House menu of services.
The securing of income for support and service development in the local area and the charity as a whole is always at the forefront in the thinking of the Board of Trustees and the senior management team. The Trustees have continued to adopt a cautious investment policy. The Association continues to seek to invest its surplus funds in no-risk interest earning deposits.
The bulk of its spare funds are placed with The Co-operative Bank PLC. Investment is largely in selected deposit accounts. These accounts have provided a small but safe return with the advantage of short-term liquidity so that funds can be mobilised for ongoing developments.
When applying for funds the Board has to ensure compliance in both the terms and conditions of the grant maker and Newent Association for the Disabled. In addition, all legacy income has to be spent as per the testator wishes. The income generation strategy reflects the aims of our mission and the priority objectives of Newent Association for the Disabled.
## CHAIRMANS REPORT 2023
This annual report presents a review of the year 2023, reporting on achievements, performance and impact, including financial performance and financial position to demonstrate the Trustees’ stewardship and management of charitable funds.
During 2023 Newent Association for the Disabled worked hard to continue its recovery from Covid.
In February 2023 we lost a long term serving Trustee Margaret Woods whose dedication and contribution to the organisation is sadly missed.
Post year end, we were able to recruit a new Trustee, Christine Howley to the board in November 2023. She brings with her a wealth of experience.
Recruiting volunteers was another challenge we faced to bring numbers back to pre-pandemic levels. Demand for Sheppard House continues to grow and the Friday groups are progressing well.
The legacy left to the organisation came at an opportune time and we are very grateful to have been a beneficiary.
Yet again to our volunteers, our donors, and our wonderful staff team – thank you!
Patricia Hales Chairman
Page 2
**Newent Association for the Disabled (Registered number: 04937256)**
## **Report of the Trustees For The Year Ended 31 October 2023**
## CHIEF EXECUTIVE REPORT 2023
During the last year our income grew dramatically by over £440,000 to over one and a quarter million, which is excellent news in a very challenging time. The main single factor for this was a large Legacy of £150,000, but we also enjoyed good success with Trusts and Foundations and saw growth from school transport contracts, our shop and Sheppard House clients.
Unfortunately, our costs rose significantly in the same period by £161,000 (19%), but this was more than offset by our income growth of 53%. As a result, we generated a significant surplus of over £250,000. We have used this surplus to invest in Sheppard House and our transport fleet. We have developed new schools' contracts, enabling us to increase our income from transport. There is a competitive tendering system for all these contracts and we have to demonstrate we have not only the capability but also the commercial experience to deliver an excellent service.
Our income from the charity shop continues to grow, it makes an invaluable contribution to the Associations finances.
The biggest financial challenge in 2023 were managing cost increases driven by factors such as Government minimum wage legislation, pension contributions, rising fuel costs, and general increases in costs in a time of high inflation.
Our core income remains consistent as it's from a diverse range of activities. This gives us a broad base which helps us in uncertain times. The challenge for us is containing rising cost pressures in things like gas and electric and the overall impact of the cost of living crisis. We managed this well in 2023 as the income growth from our wide range of income streams more than offset any cost rises The Charity's overall financial position at 31 October 2023 is extremely secure and a great base to build and expand the things we do.
One of the most pleasing aspects of 2023 was the growth in the number of clients coming to Sheppard House. We are now averaging over 90 client days per week and it is our aim to grow this to 100 in the next financial year. We also started new craft-based activities on a Friday and this is proving very popular and bringing new people into Sheppard House. We are very grateful for the support of the National Lottery which has greatly assisted this.
As an organisation we value our staff and our volunteers. This involves willingness on their part to embrace change and be flexible. I am very proud of our excellent staff and volunteers. Their commitment is the key to our success now and in the future.
## FINANCIAL REVIEW
During the last year our income grew by 53% which is excellent news in a very challenging time. This was due to a combination of factors, the largest being a significant Legacy we received. It also included the strong performance of our school’s transport but also new income from a range of trusts and foundations, which was also inflated as it is accounting practise to record the full grant in year one, even if it is received over several years. Unfortunately, our costs did rise by 19% in the same period. The majority of this was caused by wage cost increases but also included higher fuel, food and energy costs. Despite this we generated a very significant surplus which we will invest in 2024/25 in refurbishing Sheppard House, our transport fleet and looking at new opportunities to benefit the local community.
We have now managed to generate a surplus in six of the last eight years. This demonstrates a consistent financial strategy. It has enabled us to grow in a steady controllable way. This has minimised any risk, in very uncertain times. We have become a very financially secure charity with sufficient reserves to cope with any eventuality.
2023 was a very successful year for our Charity. All aspects of our organisation achieved growth and this is vital for our long-term future. We can now plan exciting new ventures based on financial security. It equips us well to cope with any changes that happen in an increasingly uncertain world. The future looks very bright.
Lyndon Biddle Chief Executive
Page 3
**Newent Association for the Disabled (Registered number: 04937256)**
## **Report of the Trustees For The Year Ended 31 October 2023**
## **STRATEGIC REPORT**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Charitable Company is incorporated under the Companies Act and has a Memorandum and Articles as adopted on 20th October 2003. The original charity was first registered on 13th May 1987. In November 2007 the assets of the original charity were transferred to this company.
## **Recruitment and appointment of new trustees**
New Trustees are selected from local interested individuals with a view to incorporating expertise appropriate to the proper management of the Association. Trustees are offered opportunities to attend training courses as appropriate.
## **Organisational structure**
The Main Trustee Board meets in full at least four times a year with subcommittees of trustees and relevant advisors meeting more frequently to deal with particular issues. The day to day running of the charity is in the hands of paid administration staff with a Senior Executive.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
04937256 (England and Wales)
**Registered Charity number** 1121008
## **Registered office**
Sheppard House Onslow Road Newent Gloucestershire GL18 1TL
## **Trustees**
M P Edwards Training Manager Dr I A Cocks Retired Mrs M Woods Housewife (Deceased 18.2.23) Mrs P C Hales Trustee D Coombs Dr R N Baldwin Doctor
## **Auditors**
Kingscott Dix Limited Chartered Accountants and Statutory Auditor Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
## **Bankers**
The Cooperative Bank PO BOX 250 Delf House Skelmersdale WN8 6WT
Page 4
**Newent Association for the Disabled (Registered number: 04937256)**
## **Report of the Trustees For The Year Ended 31 October 2023**
## **Solicitors**
Orme & Slade Solicitors Natwest Bank Chambers The Homend Ledbury HR8 1AB
## **COMMENCEMENT OF ACTIVITIES**
The Company took over the assets and activities of Newent Association for the Disabled on 1st November 2007.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Newent Association for the Disabled for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 June 2024 and signed on the board's behalf by:
Mrs P C Hales - Trustee
Page 5
**Report of the Independent Auditors to the Members of Newent Association for the Disabled (Registered number: 04937256)**
## **Opinion**
We have audited the financial statements of Newent Association for the Disabled (the 'charitable company') for the year ended 31 October 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 October 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 6
**Report of the Independent Auditors to the Members of Newent Association for the Disabled (Registered number: 04937256)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.
At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.
Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.
We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Trustees, and inspection of the Charity's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.
Page 7
**Report of the Independent Auditors to the Members of Newent Association for the Disabled (Registered number: 04937256)**
The charity is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.
The charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: Health and safety, Employment laws, GDPR, Care Act, Care, Support & Aftercare Act and Health & Social Care Act.
Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Trustees and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of noncompliance with laws and regulations and cannot be expected to do so.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mark Spashett BSc FCA (Senior Statutory Auditor) for and on behalf of Kingscott Dix Limited Chartered Accountants and Statutory Auditor Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Date: 19[th] July 2024
Page 8
**Newent Association for the Disabled**
## **Consolidated Statement of Financial Activities**
## **(Incorporating an Income and Expenditure Account)**
## **For The Year Ended 31 October 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
7
Sheppard House
Dial a Ride
Bathing Annex
Other trading activities
4
Investment income
6
**Total**
**EXPENDITURE ON**
**Raising funds**
Other trading activities
8
**Charitable activities**
9
Sheppard House
Dial a Ride
Bathing Annex
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
324,855
257,925
124,014
2,154
424,918
26,859
1,160,725
321,450
321,450
332,300
309,777
20,731
984,258
176,467
457,184
633,651|||Restricted
funds
£
103,861
-
-
-
-
-
103,861
-
-
5,606
17,138
3,975
26,719
77,142
336,329
413,471
|31.10.23
Total
funds
£
428,716
257,925
124,014
2,154
424,918
26,859
1,264,586
321,450
321,450
337,906
326,915
24,706
1,010,977
253,609
793,513
1,047,122|||31.10.22
Total
funds
£
158,516
151,382
117,372
5,534
367,566
23,851
824,221
265,891
265,891
286,041
273,645
23,951
849,528
(25,307)
818,820
793,513|
|---|---|---|---|---|---|---|---|---|
The notes form part of these financial statements
Page 9
**Newent Association for the Disabled**
## **Charity Statement of Financial Activities (Incorporating an Income and Expenditure Account) For The Year Ended 31 October 2023**
|Unrestricted
Notes
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
380,618
**Charitable activities**
5
Sheppard House
257,925
Dial a Ride
124,014
Bathing Annex
2,154
Other trading activities
5
368,249
Investment income
6
26,859
**Total**
1,159,819
**EXPENDITURE ON**
**Raising funds**
Other trading activities
8
321,450
321,450
**Charitable activities**
9
Sheppard House
331,393
Dial a Ride
309,777
Bathing Annex
20,732
**Total**
983,352
**NET INCOME/(EXPENDITURE)**
176,467
**RECONCILIATION OF FUNDS**
Total funds brought forward
457,184
**TOTAL FUNDS CARRIED FORWARD**
633,651|Restricted
31.10.23
Total
funds
£
funds
£
103,861
484,479
-
257,925
-
124,014
-
2,154
-
368,249
-
26,859
103,861
1,263,680
-
321,450
-
321,450
5,606
336,999
17,138
326,915
3,975
24,707
26,719
1,010,071
77,142
253,609
336,329
793,513
413,471
1,047,122|31.10.22
Total
funds
£
193,974
151,382
117,372
5,534
329,692
23,851
821,805
265,891
265,891
283,627
273,645
23,949
847,112
(25,307)
818,820
793,513|
|---|---|---|
The notes form part of these financial statements
Page 10
## **Newent Association for the Disabled (Registered number: 04937256)**
## **Consolidated Statement of Financial Position**
## **As at 31 October 2023**
|Unrestricted
Notes
funds
£
**FIXED ASSETS**
Tangible assets
18
314,041
Investments
-
314,041
**CURRENT ASSETS**
Stocks
20
4,420
Debtors: amounts falling due within one year 21
176,866
Other Investments
22
493
Cash at bank and in hand
172,802
354,581
**CREDITORS**
Amounts falling due within one year
23
(34,971)
**NET CURRENT ASSETS**
319,610
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
633,650
**NET ASSETS**
633,650
**FUNDS**
25
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
31.10.23
Total
funds
£
funds
£
251,323
565,364
-
-
251,323
565,364
-
4,420
-
176,866
-
493
162,149
334,951
162,149
516,730
-
(34,971)
162,149
481,759
413,472
1,047,122
413,472
1,047,122
633,650
413,472
1,047,122||31.10.22
Total
funds
£
578,739
-
578,739
3,298
94,268
493
152,554
250,613
(35,839)
214,774
793,513
793,513
457,184
336,329
793,513|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 June 2024 and were signed on its behalf by:
P C Hales - Trustee
The notes form part of these financial statements
Page 11
## **Newent Association for the Disabled (Registered number: 04937256)**
## **Charity Statement of Financial Position As at 31 October 2023**
|Unrestricted
Notes
funds
£
**FIXED ASSETS**
Tangible assets
18
314,041
Investments
19
500
314,541
**CURRENT ASSETS**
Stocks
20
4,420
Debtors: amounts falling due within one year 21
209,905
Other Investments
22
493
Cash at bank and in hand
137,430
352,248
**CREDITORS**
Amounts falling due within one year
23
(33,139)
**NET CURRENT ASSETS**
319,109
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
633,650
**NET ASSETS**
633,650
**FUNDS**
25
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
31.10.23
Total
funds
£
funds
£
251,323
565,364
-
500
251,323
565,864
-
4,420
-
209,905
-
493
162,149
299,579
162,149
514,397
-
(33,139)
162,149
481,258
413,472
1,047,122
413,472
1,047,122
633,651
413,471
1,047,122|31.10.22
Total
funds
£
578,739
500
579,239
3,298
97,700
493
146,113
247,604
(33,330)
214,274
793,513
793,513
457,184
336,329
793,513|
|---|---|---|
The notes form part of these financial statements
Page 12
**Newent Association for the Disabled**
## **Statement of Consolidated Cash Flows For The Year Ended 31 October 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|31.10.23
£
203,044
203,044
(22,643)
1,996
(20,647)
182,397
153,047
335,444|31.10.22
£
(16,608)
(16,608)
(39,797)
264
(39,533)
(56,141)
209,188
153,047|
|---|---|---|
The notes form part of these financial statements
Page 13
**Newent Association for the Disabled**
## **Notes to the Statement of Consolidated Cash Flows**
## **For The Year Ended 31 October 2023**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Increase in stocks
Increase in debtors
(Decrease)/increase in creditors
**Net cash provided by/(used in) operations**|31.10.23
£
253,609
36,018
(1,996)
(1,122)
(82,598)
(867)
203,044|31.10.22
£
(25,307)
34,712
(264)
(146)
(31,817)
6,214
(16,608)|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**|At 1.11.22
Cash flow
At 31.10.23
£
£
£|
|---|---|
|Cash at bank and in hand|152,554
182,397
334,951|
||152,554
182,397
334,951|
|**Liquid resources**||
|Deposits included in cash|-
-
-|
|Current asset investments|493
-
493|
||493
-
493|
|**Total**|153,047
182,397
335,444|
The notes form part of these financial statements
Page 14
**Newent Association for the Disabled**
**Notes to the Financial Statements For The Year Ended 31 October 2023**
## **1. 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 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from government and other grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Governance costs**
As the Charity operates fairly efficiently with regard to governance, the majority of its resources are allocated to charitable activities, based on time allocated to each charitable activity.
## **Tangible fixed assets**
Costs related to fixed asset expenditure in excess of £500 are capitalised as tangible fixed assets in the accounts.
No revaluations have been performed to date.
Due to the nature of the fixed assets held by the Charity, no asset is likely to be lower than that stated in the accounts and hence no impairment reviews are considered necessary.
Page 15
continued...
**Newent Association for the Disabled**
**Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
## **Depreciation**
Depreciation is provided to write off the cost of tangible fixed assets over their estimated useful lives as follows:
Freehold Property 2% on cost Plant and machinery 10% on reducing balance Furniture and Fittings 10% on reducing balance Motor vehicles 25% on reducing balance
## **Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **Stocks**
Stock consists of purchased goods for the use in future activities included at cost. Charity shop donated goods are not included in the financial statements until they are sold or distributed.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Page 16
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
## **Basic financial liabilities**
Basic financial liabilities, including 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 liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities 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 cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
## **2. DONATIONS AND LEGACIES - GROUP**
|||31.10.23|31.10.22|
|---|---|---|---|
|||£|£|
||Donations|37,585|58,642|
||Legacies|155,000|-|
||Grants|236,131|99,874|
|||428,716|158,516|
|**3.**|**DONATIONS AND LEGACIES – CHARITY**|||
||Donations|31.10.23
£
37,585|31.10.22
£
58,642|
||Legacies|155,000|-|
||Grants|236,131|99,874|
||Covenant received from N A D Contracts Limited|55,763|35,458|
|||484,479|193,974|
|**4.**|**OTHER TRADING ACTIVITIES – GROUP**|||
||Fundraising events|31.10.23
£
599|31.10.22
£
725|
||Shop income|138,580|122,692|
||Local transport contracts|285,739|244,149|
|||424,918|367,566|
|||||
Page 17
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **5. OTHER TRADING ACTIVITIES - CHARITY**
|**5.**|**OTHER TRADING ACTIVITIES - CHARITY**|||
|---|---|---|---|
|||31.10.23|31.10.22|
|||£|£|
||Fundraising events|599|725|
||Shop income|138,580|122,692|
||Recharge to trading subsidiary|229,070|206,275|
|||368,249|329,692|
|**6.**|**INVESTMENT INCOME – GROUP AND CHARITY**
Rents received
Deposit account interest|31.10.23
£
24,863
1,996|31.10.22
£
23,587
264|
|||26,859|23,851|
## **7. INCOME FROM CHARITABLEACTIVITIES - GROUP AND CHARITY**
|Sheppard
Dial a
House
£
Dial-A-Ride Services
-
Ride
£
124,014
Community users
257,925
-
257,925
124,014|31.10.23
Bathing
Total
31.10.22
Total
Annex
£
-
activities
£
124,014
activities
£
88,794
2,154
260,079
185,494
2,154
384,093
274,288|
|---|---|
## **8. OTHER TRADING ACTIVITIES – GROUP AND CHARITY**
|Staff costs
31.10.23
£
58,802
Rent & rates
13,994
Insurance
1,680
Light & heat
5,212
Printing, postage &stationery
2,705
Shop repairs & maintenance
608
Motor Expenses
36,348
Wages
168,448
Sundry
4,184
Fundraiser costs
29,469
321,450|31.10.22
£
48,986
14,012
1,620
2,557
2,025
1,899
34,430
135,343
840
24,179
265,891|
|---|---|
Page 18
continued...
**Newent Association for the Disabled**
**Notes to the Financial Statements - continued**
## **For The Year Ended 31 October 2023**
## **9. CHARITABLE ACTIVITIES COSTS - GROUP**
|||Support||
|---|---|---|---|
||Direct|Costs (see||
||Costs|note 11)|Totals|
||£|£|£|
|Sheppard House|327,816|10,090|337,906|
|Dial a Ride|326,915|-|326,915|
|Bathing Annex|24,707|-|24,707|
||679,438|10,090|689,528|
## **10. CHARITABLE ACTIVITIES COST - CHARITY**
|Sheppard House|Direct
Costs
£
327,494|Support
Costs (see
note 11)
Totals
£
£
9,505
336,999|Support
Costs (see
note 11)
Totals
£
£
9,505
336,999|
|---|---|---|---|
|Dial a Ride|326,915||-
326,915|
|Bathing Annex|24,707||-
24,707|
||679,116||9,505
688,621|
## **11. SUPPORT COSTS – GROUP**
|Sheppard House|Other
£
1,719|Governance
Costs
Totals
£
£
8,372
10,090|
|---|---|---|
|**PPORT COSTS - CHARITY**|||
|Sheppard House|Other
£
1,633|Governance
Costs
Totals
£
£
7,872
9,505|
**12. SUPPORT COSTS - CHARITY**
Page 19
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **13. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.10.23|31.10.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|36,018|34,713|
|Fees payable to the charity’s auditor for the audit of the charity’s
financial statements|3,900|3,025|
## **14. TRUSTEES' REMUNERATION ANDBENEFITS – GROUP AND CHARITY**
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
## **Trustees' expenses**
It is the policy of the Charity to reimburse in full all expenses properly incurred by its volunteers in connection with its charitable activities.
## **15. STAFF COSTS**
|Wages and salaries|31.10.23
31.10.22
£
£
660,363
562,647|
|---|---|
|The average monthly number of employees during the year was as follows:
Sheppard House
Transport
Charity shop|
31.10.23
31.10.22
16
16
26
25
2
2|
||44
43|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|£60,001 - £70,000|31.10.23
1
1|31.10.22
1
1|
|---|---|---|
Staff costs include Employers National insurance costs of £31,873 (2022: £29,268).
There are a large number of part time employees and the average full time equivalent is 34 (2022: 34) employees.
Page 20
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **16. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - GROUP**
|Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
59,941
98,575
**Charitable activities**
Sheppard House
151,382
-
Dial a Ride
117,372
-
Bathing Annex
5,534
-
Other trading activities
367,566
-
Investment income
23,851
-
**Total**
725,646
98,575
**EXPENDITURE ON**
**Raising funds**
Other trading activities
265,891
-
265,891
-
**Charitable activities**
Sheppard House
280,437
5,605
Dial a Ride
259,169
14,476
Bathing Annex
18,548
5,401
**Total**
824,045
25,482
**NET INCOME/(EXPENDITURE)**
(98,400)
73,093
**RECONCILIATION OF FUNDS**
Total funds brought forward
555,584
263,236
**TOTAL FUNDS CARRIED FORWARD**
457,184
336,329|Total
funds
£
158,516
151,382
117,372
5,534
367,566
23,851|
|---|---|
||824,221|
||265,891|
||265,891
286,042
273,645
23,949|
||849,528|
||(25,307)
818,820
793,513|
## **17. INVESTMENTS**
Investments are stated at market value at the balance sheet date. There was no net gain or loss arising on revaluations or disposals throughout the year, due to the fact that the value of the investments had not changed significantly in the period.
Page 21
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued**
## **For The Year Ended 31 October 2023**
## **18. TANGIBLE FIXED ASSETS – GROUP AND CHARITY**
|**COST**
At 1 November 2022
Additions
At 31 October 2023
**DEPRECIATION**
At 1 November 2022
Charge for year
At 31 October 2023
**NET BOOK VALUE**
At 31 October 2023
At 31 October 2022|Freehold
property
£
743,446
-
743,446
274,223
10,868
285,091
458,355
469,223|Plant and
machinery
£
24,629
116
24,745
6,407
1,833
8,240
16,505
18,222|Fixtures
and
fittings
£
149,273
527
149,800
115,624
3,406
119,030
30,770
33,649|Motor
vehicles
Totals
£
£
304,733
1,222,081
22,000
22,643
326,733
1,244,724
247,088
643,342
19,911
36,018
266,999
679,360
59,734
565,364
57,645
578,739|Motor
vehicles
Totals
£
£
304,733
1,222,081
22,000
22,643
326,733
1,244,724
247,088
643,342
19,911
36,018
266,999
679,360
59,734
565,364
57,645
578,739|
|---|---|---|---|---|---|
||||||643,342
36,018
679,360
565,364|
||||||578,739|
Included in cost or valuation of land and buildings is freehold land of £161,456 (2022 - £161,456) which is not depreciated.
## **19. FIXED ASSET INVESTMENTS - CHARITY**
|**FIXED ASSET INVESTMENTS - CHARITY**|||
|---|---|---|
|Shares|31.10.23
£
1|31.10.22
£
1|
|Loans|499|499|
||500|500|
|**MARKET VALUE**||Shares in
group
undertakings
£|
|At 1 November 2022 and|||
|31 October 2023||1|
|**NET BOOK VALUE**|||
|At 31 October 2023||1|
|At 31 October 2022||1|
|At 1 November 2022 and||Loans to
group
undertakings
£|
|31 October 2023||499|
There were no investment assets outside the UK.
Page 22
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **19. FIXED ASSET INVESTMENTS - continued**
The company's investments at the balance sheet date in the share capital of companies include the following:
## **N A D Contracts Limited**
Registered office: UK
Nature of business: Transport services
||%||||||||
|---|---|---|---|---|---|---|---|---|
|Class of share:|holding||||||||
|Ordinary|100||||||||
|||||31.10.23||31.10.22|||
|||||£||£|||
|Aggregate capital and reserves|||||2||2||
|**20. STOCKS – GROUP AND CHARITY**|||||||||
|Stocks||||31.10.23
£
4,420||31.10.22
£
3,298|||
|**21. DEBTORS**|31.10.23||31.10.23|31.10.22||31.10.22|||
|Amounts falling due within one year:||£|£||£||£||
||Group||Charity||Group||Charity||
|Trade debtors||78,273|46,133||89,005||47,502||
|Amounts owed by subsidiary undertakings||-|65,387||-||44,790||
|Other debtors||1,227|640||-|||-|
|VAT||-|379||-||145||
|Prepayments and accrued income||97,366|97,366||5,262||5,263||
||176,866||209,905||94,268||97,700||
|**22. CURRENT ASSET INVESTMENTS – GROUP**|**AND CHARITY**||||||||
|Other Investments||||31.10.23
£
493||31.10.22
£
493|||
The market value of the shares had not significantly varied in value at the balance sheet date.
## **23. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**31.10.23**|**31.10.23**|**31.10.22**|**31.10.22**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
||**Group**|**Charity**|**Group**|**Charity**|
|Trade creditors|15,722|15,222|21,157|20,657|
|Social security and other taxes|12,479|12,479|10,372|10,373|
|VAT|1,332||2,010||
|Accruals and deferred income|5,438|5,438|2,300|2,300|
||34,971|33,139|35,839|33,330|
Page 23
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **24. LEASING AGREEMENTS – GROUP AND CHARITY**
The charity has contracted with lessees for the following future minimum lease payments for sublet income:
|Within 1 year
Between 2 and 5 years|31.10.23
£
4,000
8,333
12,333|31.10.22
£
4,000
12,333
16,333|
|---|---|---|
## **25. MOVEMENT IN FUNDS – GROUP AND CHARITY**
|**Unrestricted funds**
At
1.11.22
£
General fund
457,184
**Restricted funds**
Dial A Ride
105,624
Bathroom
40,011
Sheppard House
173,525
Bathroom Equipment
150
Barnwood Trust Trips 2021
2,340
Hartpury College Project
10,679
Carers Legacy Fund
4,000
336,329
**TOTAL FUNDS**
793,513
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
Incoming
resources
£
General fund
1,160,725
**Restricted funds**
Dial A Ride
103,861
Bathroom
-
Sheppard House
-
Bathroom Equipment
-
103,861
**TOTAL FUNDS**
1,264,586|Net
movement
in funds
£
176,467
86,722
(3,824)
(5,606)
(150)
-
-
-
77,142
253,609
Resources
expended
£
(984,258)
(17,138)
(3,825)
(5,606)
(150)
(26,719)
(1,010,977)|At
31.10.23
£
633,651
192,346
36,187
167,919
-
2,340
10,679
4,000
413, 471
1,047,122
Movement
in funds
£
176,467
86,723
(3,825)
(5,606)
(150)
77,142
253,609|
|---|---|---|
Page 24
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued**
## **For The Year Ended 31 October 2023**
## **25. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At
1.11.21
£
**Unrestricted funds**
General fund
555,584
**Restricted funds**
Dial A Ride
26,503
Bathroom
38,856
Sheppard House
179,132
Bathroom Equipment
1,726
Barnwood Trust Trips 2021
2,340
Hartpury College Project
10,679
Carers Legacy Fund
4,000
263,236
**TOTAL FUNDS**
818,820
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
Incoming
resources
£
General fund
725,645
**Restricted funds**
Dial A Ride
93,597
Bathroom
4,979
Sheppard House
(1)
Bathroom Equipment
-
98,575
**TOTAL FUNDS**
824,220|Net
movement
At
in funds
£
31.10.22
£
(98,400)
457,184
79,121
105,624
1,155
40,011
(5,607)
173,525
(1,576)
150
-
2,340
-
10,679
-
4,000
73,093
336,329
(25,307)
793,513
Resources
expended
£
Movement
in funds
£
(824,044)
(98,400)
(14,476)
79,121
(3,824)
1,155
(5,606)
(5,607)
(1,576)
(1,576)
(25,482)
73,093
(849,526)
(25,307)|
|---|---|
Page 25
continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued**
## **For The Year Ended 31 October 2023**
## **25. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Dial A Ride
Bathroom
Sheppard House
Bathroom Equipment
Barnwood Trust Trips 2021
Hartpury College Project
Carers Legacy Fund
**TOTAL FUNDS**|At
1.11.21
£
555,584
26,503
38,856
179,132
1,726
2,340
10,679
4,000
263,236
818,820|Net
movement
At
in funds
£
31.10.23
£
78,066
633,650
165,844
192,347
(2,669)
36,187
(11,213)
167,919
(1,726)
-
-
2,340
-
10,679
-
4,000
150,236
413,472
228,302
1,047,122|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Incoming
resources
£
Resources
expended
£
General fund
1,886,370
(1,808,303)
**Restricted funds**
Dial A Ride
197,458
(31,614)
Bathroom
4,979
(7,648)
Sheppard House
(1)
(11,212)
Bathroom Equipment
-
(1,726)
202,436
(52,200)
**TOTAL FUNDS**
2,088,806
(1,860,503)|Movement
in funds
£
78,067
165,844
(2,669)
(11,213)
(1,726)
150,236
228,303|
|---|---|
## **26. RELATED PARTY DISCLOSURES**
N.A.D Contracts Ltd is a subsidiary company of the Charity which covenants all its profits to the Charity. Total covenanted profits for year to 31st October 2023 was £55,763 (2022: £35,458).
Transactions with the subsidiary company for the year to 31st October 2023 totalled £229,070 (2022: £206,276). At the year end £65,387 were owed to the Charity from the subsidiary company (2022: £44,790).
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continued...
**Newent Association for the Disabled**
## **Notes to the Financial Statements - continued For The Year Ended 31 October 2023**
## **27. RESTRICTED FUNDS AND DESIGNATED FUNDS**
## SHEPPARD HOUSE
This represents the funds collected under the Freshfields campaign to build the day centre and equip its facilities.
## DIAL-A RIDE
The charity receives funding from the Local Authority on the grounds it continues to provide transport for the disabled and elderly of the area and so these funds are restricted to this use.
## BATHROOM PROJECT
The construction of bathing facilities at Sheppard House.
## BATHROOM REFURBISHMENT PROJECT
This represents capital grants from Gloucestershire County Council Community Building Improvement Scheme and the Summerfield Trust to provide new bathing facilities in the bathroom annex.
## HARTPURY COLLEGE PROJECT
Funding of day trips for clients to attend Hartpury College for tours around the college site.
## CARERS LEGACY FUND
Funding of a support group for carers.
BARNWOOD TRUST TRIPS Funding of day trips for clients.
Page 27
**Newent Association for the Disabled**
## **Detailed Statement of Financial Activities For The Year Ended 31 October 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Legacies
Grants
Covenant received from N A D Contracts
Limited
**Other trading activities**
Fundraising events
Shop income
Recharge to trading subsidiary
**Investment income**
Rents received
Deposit account interest
**Charitable activities**
Dial-A-Ride Services
Community users
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Wages
Rent & rates
Insurance
Light & heat
Printing, postage &stationery
Shop repairs & maintenance
Motor Expenses
Wages
Sundry
Fundraiser costs
**Charitable activities**
Wages
Carried forward|31.10.23
£
37,587
155,000
236,131
55,761
484,479
599
138,580
229,070
368,249
24,863
1,996
26,859
124,014
260,079
384,093
1,263,680
58,802
13,994
1,680
5,212
2,705
608
36,348
168,448
4,184
29,469
321,450
433,113
433,113|31.10.22
£
58,642
-
99,874
35,458|
|---|---|---|
|||193,974
725
122,692
206,275|
|||329,692
23,587
264|
|||23,851
88,794
185,494|
|||274,288|
|||821,805
48,986
14,012
1,620
2,557
2,025
1,899
34,430
135,343
840
24,179|
|||265,891
378,317
378,317|
This page does not form part of the statutory financial statements
Page 28
**Newent Association for the Disabled**
## **Detailed Statement of Financial Activities For The Year Ended 31 October 2023**
|**Charitable activities**
Brought forward
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Motor expenses
Repairs
Sundries
Food
Gardening and landscaping
Computer expenses
Advertising
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
**Support costs**
**Other**
Bad debts
**Governance costs**
Accountancy fees
Additional services
Professional fees
Total resources expended
**Net income/(expenditure)**|31.10.23
£
433,113
2,266
4,507
14,292
5,083
2,704
124,519
14,723
18,889
16,284
318
1,468
4,932
10,867
1,834
3,406
19,911
679,116
1,633
3,900
3,972
-
7,872
1,010,071
253,609|31.10.22
£
378,317
2,049
4,414
7,874
3,063
2,339
91,043
9,834
15,388
11,111
1,267
5,417
4,238
10,787
2,025
3,726
18,174|
|---|---|---|
|||571,066
-
3,025
3,831
3,299|
|||10,155|
|||847,112
(25,307)|
This page does not form part of the statutory financial statements
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