PRINCESS STREET TRAINING EDUCATION & ENTERPRISE CENTRE FINANCIAL STATEMENTS AND ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Registered Charity Number: 1122032
PRINCESS STREET TRAINING EDUCATION & ENTERPRISE CENTRE Reports and Accounts for the Year Ended 31 December 2024 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 2024 ORGANISATION: Princess Street Training Education & Enterprise Centre ADDRESS: 25-28 Princess Street Burton on Trent Staffordshire DE14 2NW BANKERS: HSBC Bank 18 High Street Burton on Trent Staffordshire DE14 1HU Natwest Bank 59 High Street Burton on Trent Staffordshire DE14 1JG ACCOUNTANTS: AM Chartered Management Accountsnts 47 Branston Road Burton on Trent Staffordshire DE14 3BY
Princess Street Training Education & Enterprise Centre Independent Examiner's Report To the trustees of tho Prlncess Streat Tralnlng Educatlon & Entsrprlse Centre (PSTEEC) I report on the accounts of the charity for the year ended 31 Decemb8r 2024. Respectlve responslbllltles of trustees and examlner The charities Trustees are responsible for the preparation of the accounts. The charities Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 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 independent examination, It is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act; and to state whether particular matters have come to my attention. Basls of Independent Examlner's Statement My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in statement below. Independent Examiner's Statement 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 accordance with s8Ctlon 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 methods and principles of the Ststement of Recommended Practice: Accounting and Reporting by Charities have not been met; or 2. to which in my opinion, att8ntion should be drawn in order to enable a proper understanding of the accounts to be reached. Atrf Mahfooz ACMA CGMA AM Chartered Management Accountants 47 Branston Road Burton on Trent Staffordshire DE14 3BY Date: 20th October 2025
Prlncess Street Training Educatlon & Enterprise Centre Detailed Incomo and Expendlture Account for the Year ended 31 st December 2024 2024 2023 Incom• Grants & Donations received Reimbursed Legal Fees . Interest Received 138,283 50.000 2,687 77,701 190,971 1.937 79,637 ExndIture Staff Costs Utilities Insurance Project Costs Post and Stationery Advertising IT & Telecoms Cleaning Repairs & Renewals Bank Charges Legal Fees Legal & Professional Security Sundries Depreciation 35,008 3,067 2,641 4.735 27 1,260 4,072 471 29.063 3,238 2.366 7.403 15 1,140 1.691 400 6,452 37,001 1,893 2.550 989 20,808 450 2,679 283 345 513 283 95,468 76,333 NET INCOME FOR PERIOD 95,503 3,304 Note to Reimbursed Legal Fees An unelected group of people took over the charity which leases the building from which PSTEEC operates from and tried to terminate the lease. Legal proceedings were pursued by the trustees of PSTEEC at Bimiingham High Court against these individuals and the issue was raised with the Charity Commission which enforced elections at the charity. Following the 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 of £50.000 which were received in 2024.
Prlncess Strttt Trainlng Education & Enterprise Cantre Balance Sheet as at 31 December 2024 Notes 2024 2023 Flxed Assets Land & Buildings Other Tangible Fixed Assets 645,356 1,289 645,356 1,572 646,645 646,928 Current Assets Restricted - Cash at bank Unrestricted - Cash at bank and in hand Debtors 200,000 146,835 200,000 54,099 Current Llabllltle8 650 3,700 Not Current Assots 346,185 250,399 Net Assets 992 830 897 327 Flnan¢ed By: Accumulated Funds Income & Expenditure 897,327 £95,503 992 830 894.023 £3.304 897 327 Cllent Approval Certlflcate We approve the financial statements for the year ended 31 December 2024. We confirm: We have made available to AM Chart8red Management Accountants all of our accounting records and have provided all of the infomation necessary for the preparation 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 20° October 2025 Amjid Murtza Chair Trustees
Princess Street Tralnlng Education & Enterprise Centre Notes to the Accounts For the year ended 31 December 2024 1 Accounting Policies The accounts have been prepared under the historical cost conventions and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities SORP {FRS102). The principal accounting policies adopted in the preparation of the financial statements are set out below. Donations and Voluntary Income Donations and voluntary income are accounted for gross when received. Grants Receivable Grants for immediate expenditure are accounted for when they become receivable. Tanglble Fixed Assets and Depreciation Fixed assets for charity use are capitalised at cost where acquired or market value as determined by the trustees when donated. They are stated in the financial statements at cost or original value less depreciation. Depreciation is calculated to write off the cost or valuation of the fix8d assets at 18 % per annum. Allocatlon of costs Where rtems involve more than one category they are apportioned on a basis consistent with the use of the resource. 2 Grants, donations and income roceived 2024 Total £11,942 £102.775 £4,385 £19.182 £2,687 £50,000 Grants Joint Projects Donations Room Hire Interest Received Legal Fees Re-imbursed Total £190,971 3 Trustees remuneration 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 twstee or rsOn 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 2024 (2023- Nil) 5 Funds The assets and liabilities are represented by the following funds. Restrlctod Unrestrlcted Total Fixed Assets Net Current Assets 645,356 200,000 1,289 146.185 646,645 346,185 845,356 147,474 992,830