2023-12-31-accounts

PRINCESS STREET TRAINING EDUCATION & ENTERPRISE CENTRE FINANCIAL STATEMENTS AND ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Registered Charity Number.. 1122032

PRINCESS STREET TRAINING EDUCATION & ENTERPRISE CENTRE Reports and Accounts for the Year Ended 31 December 2023 General Information Independent Examiners Report Income and Expenditure Statement Balance Sheet Notes to accounts

PRINCESS STREET TRAINING EDUCATION & ENTERPRISE CENTRE GENERAL INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 ORGANISATION: Princess Street Training Education & Enterprise Centre ADDRESS: 25-28 prIn￿sS Street Burton on Trent Staffordshire DE14 2NW BANKERS: HSBC 8ank 18 High Street Burton on Trent Staffordshire DE14 1HU Nahyest Bank 59 High Street Burton on Trent Slaffordshire DE14 1JG ACCOUNTANTS: AM Chartered Management Accountants 47 Branston Road Burton on Trent Staffordshire DE14 3BY

Princess Street Training Education & Enterprise Centre Independent Examiner's Report To the trustees of the Prlncess Street Training Education & Enterprise Centre IPSTEECI I report on the accounts ofthe charty forthe year ended 31 December 2023. Respe¢tlve responslblllties of trusteès and exarniner The charities Trustees are responsible for the preparation of the accounts. The CharIt￿S Trustees consider that an asjdit is not required for this year under section 144121 of the Charities Acl 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for indeFendent examination, It is my responsibility to.. examine the accounts under section 145 of the 2011 Acl", to follow the procedures laid down in the General Directions given by the Charity Commission under section 14515){b) of the 2011 Act., and to state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination was carried out in accordance with General Directions given by the Charity Commission. An examinalion includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in ststement telow. Independent Examiner's Ststement In connection with my examination, no matter has come to my attention other than that disclosed below which gives me reasonable cause to believe that in, any material respect, the requirements.. to keep accounting records in accordan￿ wrth section 41 of the Act and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 1993 Act and with the melhods and principles of the Statement of Recommended Practi￿.. Accounting and Reporting by Charities have not been met,. or 2. to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Atif Mahfooz ACMA CGMA AM Chartered Management Accountants 47 Branston Road Burton on Trent Staffordshire DE14 38Y Date.. 18th October 2024

Princess Street Training Education & Enterprlse Centre Detailed Income and Expenditure Account for the Year ended 31st December 2023 2023 2022 Income Grants & Donations received Interest Received 77.701 1,937 53.707 79,637 63.707 Expenditure Staff Costs Ulilrties Insuran Project Costs Post and Stationery Advertising IT & Telecoms Cleaning Repairs & Renewals Bank Charges Legal Fees" Legal & Professional Security Sundries Depreciation 29,063 3,238 2,366 7,403 15 1.140 1,691 400 6,452 32,342 3,250 2,098 854 726 1,888 111 1,083 60 20,808 450 2.679 283 345 450 839 120 421 76.333 46,108 NET INCOME FOR PERIOD 3.304 7.599 Note to Legal Fees An Une￿cted group of people took over the charity which leases the building from which PSTEEC operates from and tr￿d to terminate the lease. Legal proceedings were pursued by the Iruslees of PSTEEC at Birmingham High Court against these individuals and Ihe issue was raised with the Charty Commission which enforced elections al the charity. Following Ihe conclusion of the legal proceedings, the unelected group were found to be personally liable for the breaking of the lease and ordered to pay costs, which we expect to re￿1ve in 2024.

Princess Street Tralning Educatlon & Enterprlse Centre Balance Sheet as at 31 December 2023 Notes 2023 2022 Flxed Assets Land & Buildings Other Tangible Fixed Assets 645,356 1,572 645,356 1,918 646.928 647,274 Current Assets Restricted - Cash al bank Unreslricled - Cash at bank and in hand Debtors 200,000 54,099 2C￿,000 49,562 4.892 Current Llabllltles 3,700 7.705 Net Current A8$ets 250,399 246,749 Net Assets 897 327 Fln•nced By: Accumulated Funds Income & Expenditure 894,023 £3,304 886,424 £7,599 897 327 894 023 Cllent Approval Cortlflcale We approve the financial statements for the year ended 31 December 2023. We confirm.. We have made available to AM Chartered Management A¢¢ountants all ofour accounling records and have provided all of the infornation necessary for the preparalion of the financial statements,. To the best of our knowledge and belief, the accounting records reflect all the transactions entered into by us in the period covered by the financial statements. Approved and authorised for issue by the Trustees on 18 October 2024 41-IL Amjid Murtza Chair Trustees

Princess Street Training Education & Entsrprise Centre Notes to the Accounts For the year ended 31 December 2023 1 Accounting Policies The accounts have been prepared under the historical cost conventions and in accordance with the Staternenl of Recommended Practice - Accounting and Reporting by Charities SORP IFRS102). The pnncipal accounting policies adopted in the preparation of th8 financial statements are sel out below. Donations and Voluntary Income Donations and voluntary income are accounled for gross vthen re￿Ived. Grants Recelvable Grants for immediate expenditure are accounted for when they tecome rèceivable. Tanglble Flxed Assets and Depreciation Fixed assets for charity use are capilalised at cost where acquired or market value as detemiined by Ihe trustees when donated. They are stated in the financial statements al cost or original value less depreciation. Depreciation is calculated lo write off the cost or valuation of the fixed assets at 18 /0 per annum. AllocatSon of costs Where items involve more than one category they are apportioned on a basis consistent with the use of the resource. 2 Grants and donatlons rocelved 2023 Totsl £44,544 £11.300 £12,247 £9,609 £1.937 Grants Joint Projects Donations Room Hire Interest Received Total £79,637 3 Trustses romuneratlon and expenses No remuneration was paid or is payable for the year out of the funds of the charity, either directly or indirectly, to any trustee or person known to be connected to any trustee. 4 Taxatlons No liability to UK Corporation Tax arose on ordinary activities for the year ended 31 December 2023 {2022 - Nil) S Funds The assets and liabilities are represented by the following funds. Restrlctsd Unrèstrlcted Total Fixed Assets Net Current Assets 645,356 200,000 1,572 85,767 646,928 285,767 845,356 87,339 928,995