REGISTERED COMPANY NUMBER: 04834723 (England and Wales) REGISTERED CHARITY NUMBER: 1121305
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
City United Limited
(A Company Limited by Guarantee)
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
City United Limited
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Cash Flow Statement | 10 | ||
| Notes to the Cash Flow Statement | 11 | ||
| Notes to the Financial Statements | 12 | to | 17 |
City United Limited (Registered number: 04834723)
Report of the Trustees
for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Our Vision
We believe that all children and young people should be able to feel safe, empowered to be happy and successful, and encouraged to follow their dreams.
Our Mission
Our mission is to provide support and guide young people aged 6 -25 to make and construct positive changes to their day-to-day lives. This is done through youth work, education, mentoring and coaching.
Our aims
Through our independent school, City United Academy, we aim to provide a safe, rounded educational provision for those young people whose learning pathway has taken a different route. We aim to accommodate the academic and well-being needs of those young people who have experienced difficulties in mainstream education or have coexisting conditions of special educational needs.
Our dedicated and highly skilled team provide the support needed to allow our students to find their own self-identity and flourish in an environment where they feel secure and happy. We aim to create an enjoyable learning experience in which every student can overcome the challenges they have faced along their educational journey. Our shared values of re-engage, inspire and nurture help us to maximise our young people's outcomes as they enter adulthood.
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City United Limited (Registered number: 04834723)
Report of the Trustees
for the Year Ended 31 March 2024
OBJECTIVES AND ACTIVITIES Objectives and aims
Our objectives
In line with the Charity Commission's public benefit guide, this year we prioritised our objectives around encouraging young people to become more self-sufficient in terms of their self-efficacy and life skills. Our objectives have centred around supporting young people becoming more confident in their abilities in order to adopt a more positive outlook and experience lower incidences of stress, reducing anxiety. These objectives have helped in fostering high self-efficacy and self-esteem in our young people.
Our programmes of work have aimed to promote safe and healthy relationships, avoiding any young person becoming unnecessarily disadvantaged or unsafe.
Our young people have experienced a revolving door of services throughout their lives which have been devoid of continuity. As such, specific objectives were put in place to combat the difficulties young people were facing.
The Charity adapted its programmes to improve outcomes for the most vulnerable young people and further enhance their life skills. The impact of the programmes were designed to improve health problems and mental health.
In addition, the Trust ensures the continuity of:
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Broadening the curriculum and the student choices at the academy.
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Developing our wellbeing and pastoral care
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Investing in our people so their practices can continue to have impact on the lives of the young people we work with.
The wellbeing of our team has always been of the utmost importance. The Board of Trustees and the leadership team persevere with their main objectives:
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Providing wellbeing support to all staff
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Providing an environment where everyone's voice counts on safety and wellbeing
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Offering flexibility as much as possible
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Avoiding any job losses
Following the successful Ofsted Report that recognised the impact of the work carried out by the team, The team have continued to provide young people with the opportunity to succeed in education. Many of the young people have experienced trauma, including school based trauma meaning it was even more imperative that they received a nurturing environment that would not just support with closing educational gaps but would offer a young person a place where they felt they belonged and would feel accepted and would thrive. At City United the Team understand pupils' varying and complex special educational needs and provides them with an environment where learning, feeling safe and having a sense of belonging support the young people to overcome barriers to learning.
The Team have continued to build strong relationships with the young people manifesting a mutual respect helping to diminish barriers to social exclusion and academic progress. Ofsted recognised that The Team build a mutual respect and trust between the service users and the team, which helps young people to develop crucial skills needed for the next stage of their lives.
Since Ofsted recommended to The Department for Education that the academy could extend their cohort of young people to fifty, which will help to increase revenue, we have been able to build our offer of provision and promote our offer to other authorities. To date we have been working with our local partners in Birmingham, Solihull and Sandwell in addition to Swindon and Brighton and Hove.
The accolade of a 'Good' Ofsted meant we were awarded the status of sixth form by The Department of Education. City United is now in its third year of sixth form. Many of the existing cohort of students have continued with their academic studies, alongside working with our local partners, who provide support for vocational courses. This has alleviated anxieties and pressures for parents, carers and young people knowing that they can access further education within the existing environment.
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City United Limited (Registered number: 04834723)
Report of the Trustees
for the Year Ended 31 March 2024
OBJECTIVES AND ACTIVITIES Activities for achieving objectives
Charity projects
Building on previous successes City United has continued their goal of improving life styles by supporting the need for a healthy diet within a tight budget.
The project concluded to a successful end with young people having formed positive relationships, improving their self-esteem and greatly increasing life skills for a better future.
Academic Achievements
It is widely recognised that a young person's emotional health and wellbeing influences their cognitive development and learning, as well as their physical and social health and their mental wellbeing in adulthood. As a school, City United Academy aims to promote every young person's wellbeing to ensure that they can reach their full potential. City United Academy strives to reduce the negative impact of trauma experiences and support mental and physical health outcomes. This is achieved through creating a focus on understanding the impact of trauma and supporting affected young people. Therefore we have created an inclusive, safe environment. The education offer is designed to not only enhance academic abilities so young people can be competitive in the world of work but offers a basic sense of belonging, transparency and active collaboration. City United Academy continues to offer a life skills programme alongside its core offer of GCSE studies and A level qualifications.
FINANCIAL REVIEW
Current position
The procurement of new contracts with the local authority saw the start of a change in focus in the academy. The cohort of young people now entering the academy are presenting with very complex special educational needs. Along with the complex additional needs came an increase in fees. This increase enhanced revenue aiding recovery from financial hardship still hanging over the charity from the pandemic.
The increased revenue was reinvested back into the educational provision in the way of:
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Employment of additional, specialised, qualified staff.
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Plans to take measures to retain existing, experienced, skilled staff in the form of wage reviews and medical cover.
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Specialised training courses for existing staff to further enhance skills.
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Urgent, overdue repairs on the building.
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Internal reconstruction to building to create new specialised classrooms.
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Building up of surplus funds in the bank account to cover the year ahead and further investment to improve the
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service to our young people.
Principal funding sources
The organisation currently categorises its income into three main streams:
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Direct funding for education services for students at the Academy. This is either through arrangement with Multi Academy Trusts (MATs) or through Local Authority Special Educational Needs Services. All funding received through this stream is used for educational purposes.
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Restricted funds for charity projects obtained through application. All funding secured through this stream is used on specific projects that the charity runs over finite periods of time. Funding can be to cover the whole cost of a project or part of it, with some grants being combined to cover different delivery aspects of a project. Generous funding from BBC's Children in Need has supported several crucial projects over the last few years, and they continue to fund projects until the summer of this financial year.
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Unrestricted funds through donations from charitable trust. Unrestricted funds are used to supplement educational and community services that City United Limited provides. Examples can be one off costs, on-going operational costs or additional costs incurred from the educational service or community projects. These funds are vital to the work that we carry out within our community and allow us to adapt to the changing needs of our young people as we see best.
As a charity, City United Limited is exempt from tax on income and gains provided these are used for educational and charitable purposes in line with our charitable aims. Our charitable status entitles us to an 80% reduction on our business rates on the property we occupy for charitable purposes. The financial benefits we receive through these tax exemptions assist the charity indirectly to carry out its educational and community projects.
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City United Limited (Registered number: 04834723)
Report of the Trustees
for the Year Ended 31 March 2024
FINANCIAL REVIEW
Investment policy
The return of the charity to a position of surplus has enabled the Trustee's to formulate an investment policy considering emerging trends and opportunities. The organisation has again decided that investment in our team will provide the greatest benefit to the people we serve through the services we provide. Continuing Professional Development has been a priority for the independent school this year, to enable compliance with current teaching trends, legislation and improving the education service provided to the young people.
Reserve's policy
The Board of the charity continue to examine the charity's requirements for reserves in light of the main risks to the organisation. It maintains a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity, should be between 3 and 6 months of expenditure. The Board and the leadership team have worked hard to successfully maintain this reserve levels and to ensure its ongoing sustainability. The Board is maintaining stringent controls on costs as a key strategy for delivering sustained growth.
FUTURE PLANS
Moving forward the focus will be on maintaining the current provisions and services that the charity offers whilst ensuring the financial survival of the organisation. Plus enhancing relationships with the new business providers from local authorities. The team are gently working towards securing the maximum number of young people, whilst ensuring the quality of the provision is not compromised. City United is hoping to secure further partnerships with local vocational providers to enhance the service.
Plus, City United are planning to offer a bespoke curriculum to enhance the creative element of education, such as digital media and music. Discussions are being held with the local authorities to support the growth of the sixth form and parents are now requesting that the local authority continue to place their child with City United Academy, for their post 16 education, rather than place them at a local college. This will further sustain the funding for the academy. City United Academy has started to invest in modifying the interior layout of the building to suit the changing requirements of the cohort. Further developments are planned to facilitate the special educational needs of the young people, which will mean further investment in building modifications.
The charity has already experienced the effects of public spending cuts and an economic downturn will inevitably affect revenue streams, fundraising opportunities and donations. The Trustees and senior leadership of the organisation will position the charity's funding strategy and expenditure in accordance with the risk model that has been created.
Adam Simcox, an independent financial advisor in the private sector, continues to support the Board of Trustees to stay strong by providing financial advice and guidance, throughout the year.
The academy now predominantly caters for children with special educational needs (SEN). We have established this position based on evidential need and following extensive consultations with parents, local secondary schools and the local authority. We are also responding to the demographic projections sourced by SENAR and public health that the city will experience increased levels of SEN amongst children over the next 10-years. Investments in staff training has been made and future plans are in progress to support the advancement of the additional training.
Our founding principle of 'hard work + aspirations = success' is maintained by investing in both targeted and open-access youth provision and by providing formal and informal educational support that builds resilience, capabilities and leaves no child behind. This means that we seek to maintain our key focus on disadvantaged children, young people and their families in all the key activities listed above.
STRUCTURE, GOVERNANCE AND MANAGEMENT Legal form and governing document
The organisation is a charity limited by guarantee, incorporated on 16th July 2003 and registered as a charity on 19th October 2007. The organisation was established under a Memorandum of Association that sets out the objectives and the powers of the charitable association and is governed under its Articles of Association. In the event of the organisation being wound up, members are required to contribute an amount not exceeding £10.
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City United Limited (Registered number: 04834723)
Report of the Trustees
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Method of appointment or election of Trustees
All Trustees give their time freely and no remuneration or expenses were paid during the year.
New Board members are appointed by existing Board of Trustees. We invite senior business people from our local community to consider joining the Board of Trustees and also encourage our young people to apply for positions on our Board.
The Board wants to maximise its effectiveness and to this end it has established the following required skills and experience to be present in its composition:
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A Trustee with a social work background
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A Trustee with significant education experience (preferably previously held a position of Head Teacher at a school)
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A Trustee with a financial background
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At least one male and one female Trustee
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04834723 (England and Wales)
Registered Charity number
1121305
Registered office
10 Warwick House Edward Street Birmingham B1 2RX
Trustees
Mrs J Plummer Ms B Scrivens Mrs D O'Connor Mr A J Simcox
Independent Examiner
Mr G J Rummens FCCA V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
Approved by order of the board of trustees on 27 November 2024 and signed on its behalf by:
Mrs J Plummer - Trustee
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Independent Examiner's Report to the Trustees of City United Limited
Independent examiner's report to the trustees of City United Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr G J Rummens FCCA
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
27 November 2024
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City United Limited
Statement of Financial Activities for the Year Ended 31 March 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 3 Charitable activities 536,501 Investment income 2 - Other income - Total 536,501 EXPENDITURE ON Charitable activities 4 Charitable activities 417,954 Support Costs - Total 417,954 NET INCOME/(EXPENDITURE) 118,547 RECONCILIATION OF FUNDS Total funds brought forward 47,806 TOTAL FUNDS CARRIED FORWARD 166,353 |
Restricted funds £ - - - - 5,580 - 5,580 (5,580) 5,580 - |
31.3.24 Total funds £ 536,501 - - 536,501 423,534 - 423,534 112,967 53,386 166,353 |
31.3.23 Total funds £ 370,947 130 800 371,877 386,609 10,380 396,989 (25,112) 78,498 53,386 |
|---|---|---|---|
The notes form part of these financial statements
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City United Limited (Registered number: 04834723)
Balance Sheet
31 March 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 20,993 CURRENT ASSETS Debtors 10 44,048 Cash at bank and in hand 153,895 197,943 CREDITORS Amounts falling due within one year 11 (17,860) NET CURRENT ASSETS 180,083 TOTAL ASSETS LESS CURRENT LIABILITIES 201,076 CREDITORS Amounts falling due after more than one year 12 (34,723) NET ASSETS 166,353 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
31.3.24 Total funds £ 20,993 44,048 153,895 197,943 (17,860) 180,083 201,076 (34,723) 166,353 166,353 - 166,353 |
31.3.23 Total funds £ 27,991 32,144 47,543 79,687 (14,530) 65,157 93,148 (39,762) 53,386 47,806 5,580 53,386 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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City United Limited (Registered number: 04834723)
Balance Sheet - continued
31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 November 2024 and were signed on its behalf by:
Mrs J Plummer - Trustee
The notes form part of these financial statements
Page 9
City United Limited
Cash Flow Statement for the Year Ended 31 March 2024
| 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 Sale of tangible fixed assets Interest received Net cash provided by/(used in) investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing 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 |
31.3.24 £ 111,821 111,821 - - - - (5,469) (5,469) 106,352 47,543 153,895 |
31.3.23 £ (53,812) (53,812) (9,990) 800 130 (9,060) (4,747) (4,747) (67,619) 115,162 47,543 |
|---|---|---|
The notes form part of these financial statements
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City United Limited
Notes to the Cash Flow Statement for the Year Ended 31 March 2024
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| OPERATING ACTIVITIES | |||
|---|---|---|---|
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Net income/(expenditure) for the reporting period (as per the | |||
| Statement of Financial Activities) | 112,967 | (25,112) | |
| Adjustments for: | |||
| Depreciation charges | 6,998 | 6,833 | |
| Profit on disposal of fixed assets | - | (800) | |
| Interest received | - | (130) | |
| Increase in debtors | (11,904) | (19,799) | |
| Increase/(decrease) in creditors | 3,760 | (14,804) | |
| Net cash provided by/(used in) operations | 111,821 | (53,812) | |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.4.23 | Cash flow | At 31.3.24 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 47,543 | 106,352 | 153,895 |
| 47,543 | 106,352 | 153,895 | |
| Debt | |||
| Debts falling due within 1 year | (5,900) | 430 | (5,470) |
| Debts falling due after 1 year | (39,762) | 5,039 | (34,723) |
| (45,662) | 5,469 | (40,193) | |
| Total | 1,881 | 111,821 | 113,702 |
The notes form part of these financial statements
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City United Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 25% on reducing balance
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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City United Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 2. INVESTMENT INCOME Deposit account interest 3. INCOME FROM CHARITABLE ACTIVITIES Activity Invoiced sales Charitable activities Grants Charitable activities 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. SUPPORT COSTS Charitable activities 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Surplus on disposal of fixed assets |
Direct Costs £ 413,802 Finance £ 5,941 |
31.3.24 £ - 31.3.24 £ 536,501 - 536,501 Support costs (see note 5) £ 9,732 Other £ 3,791 31.3.24 £ 6,998 - |
31.3.23 £ 130 31.3.23 £ 351,144 19,803 370,947 Totals £ 423,534 Totals £ 9,732 31.3.23 £ 6,833 (800) |
|---|---|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
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City United Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 8. STAFF COSTS Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees No employees received emoluments in excess of £60,000. |
31.3.24 £ 244,356 17,928 5,441 267,725 31.3.24 9 |
31.3.23 £ 240,723 17,011 5,072 |
||
|---|---|---|---|---|
| 262,806 | ||||
| 31.3.23 10 |
9. TANGIBLE FIXED ASSETS
| Fixtures and fittings £ COST At 1 April 2023 and 31 March 2024 101,310 DEPRECIATION At 1 April 2023 96,274 Charge for year 1,259 At 31 March 2024 97,533 NET BOOK VALUE At 31 March 2024 3,777 At 31 March 2023 5,036 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Motor vehicles £ 17,610 5,097 3,128 8,225 9,385 12,513 |
Computer equipment £ 22,267 11,825 2,611 14,436 7,831 10,442 31.3.24 £ 43,064 984 44,048 |
Totals £ 141,187 |
Totals £ 141,187 |
|---|---|---|---|---|
| 113,196 6,998 |
||||
| 120,194 | ||||
| 20,993 | ||||
| 27,991 | ||||
| 31.3.23 £ 29,837 2,307 32,144 |
||||
| 32,144 |
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
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City United Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 £ Bank loans and overdrafts (see note 13) 5,470 Social security and other taxes 6,913 Other creditors 1,277 Accrued expenses 4,200 17,860 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 £ Bank loans (see note 13) 34,723 13. LOANS An analysis of the maturity of loans is given below: 31.3.24 £ Amounts falling due within one year on demand: Bank loans 5,470 Amounts falling between one and two years: Bank loans - 1-2 years 5,470 Amounts falling due between two and five years: Bank loans - 2-5 years 16,408 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 12,845 14. MOVEMENT IN FUNDS Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 47,806 118,547 Restricted funds Children in Need 2 5,580 (5,580) TOTAL FUNDS 53,386 112,967 |
31.3.23 £ 5,900 4,430 - 4,200 14,530 31.3.23 £ 39,762 31.3.23 £ 5,900 5,900 17,728 16,134 At 31.3.24 £ 166,353 - |
|---|---|
| 166,353 |
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continued...
City United Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 536,501 Restricted funds Children in Need 2 - TOTAL FUNDS 536,501 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 78,498 Restricted funds Children in Need 2 - TOTAL FUNDS 78,498 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 352,074 Restricted funds Children in Need 2 10,307 Learning Curve Group 9,496 19,803 TOTAL FUNDS 371,877 |
Resources Movement expended in funds £ £ (417,954) 118,547 (5,580) (5,580) (423,534) 112,967 Net movement At in funds 31.3.23 £ £ (30,692) 47,806 5,580 5,580 (25,112) 53,386 Resources Movement expended in funds £ £ (382,766) (30,692) (4,727) 5,580 (9,496) - (14,223) 5,580 (396,989) (25,112) |
|---|---|
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continued...
City United Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 78,498 78,498 |
Net movement in funds £ 87,855 87,855 |
At 31.3.24 £ 166,353 |
|---|---|---|---|
| 166,353 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Children in Need 2 Learning Curve Group TOTAL FUNDS |
Incoming resources £ 888,575 10,307 9,496 19,803 908,378 |
Resources Movement expended in funds £ £ (800,720) 87,855 (10,307) - (9,496) - (19,803) - (820,523) 87,855 |
Resources Movement expended in funds £ £ (800,720) 87,855 (10,307) - (9,496) - (19,803) - (820,523) 87,855 |
|---|---|---|---|
| - | |||
| 87,855 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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