REGJSTERED co[P.N1'" NUlBER. 0631278q ff ngland and Wales) REGISTERED CIL4RITI' NUlBER. 1125345 Report of the Trustees and Unaudited financial Siatements for the I'e4r Ellded 31st December 2023 Le#p$ B4d$ T$1- Inspiring Change Ltd Neil WestWlKKI & Co. Charte.-ed Accountanls 101 Dixons Green Road Dudle%' W¢st.Midiands DY2 7DJ
Leap5 and Bound5 Tru5t- Inspiring Change Ltd Conten1$ of the Finax¢ial St4tement$ fur the YeAr Eded 31st December 2023 Page Referenee and Administrative Details Report of the Trustees Independent Eiaminer'5 Report Statement of Financial Activities Bol#nte Sheet Notes to the Financi81 St)Itements 9 to 15
Leap5 and Bound5 Tru5t- Inspiring Change Ltd Reference and Admini$tr¥tive Details fur the YeAr Eded 31st December 2023 TRUSTEES D J Hodson- Chaimmn l F CruiK-Ta},lor Ms V A Ivollaston C W Luffingh (resigned 15.9.24) COMPALYY SECRETARY K Horsfall REGISTERED OFFICE 6 CathLart Road Siourbridge Vcst Nlidlands DY8 3UZ RLGIS"I'ERED COMPANY LLIIBER 0631?785 (England and Wales) REGISTERED CHAIUTY NLMBER 1125345 INDEPENDENT EXAMINER Neil Westwood & Co. Chartered AcLountsnl 101 Diions Green Road Dudle). Illest Midlands DY? 7DJ NoN-0TING MEMBERS Richard Morris Peter Suddock L¢¢ B¢nson CONSULTANTS Chief Executiie Operati011s Mandger Financial 17ager Crealle Consultani Keith Hovifall RiLhatd Morris Nicholas Taylor Lee Benson Page I
Leap5 and Bounds Trust- Inspirin2 Change Ltd (Registered number: IKL112785) Report of th¢ Truste¢s fur the YeAr Eded 31$t December 2023 The trnstees who are also directors of the charitv for the purpo% of Ihe Companies Act 2006, present their report with the financial %tateTnenl% of the charity foT the year ended 31 st December ?023. The tru%te£% have adopted the proN'ision% of Aecounting and Reporting by Chdrities= Ststement uf Reconirjended PIAetice applicable to Lharities preparing their account5 in accordance with the Financial Reporting Stsndard applicable in rhe LK and Republic of Ireland (FRS 102) iefteciive l January ?019). OBJECTIVES.4ND ACTIVITIES Objeetives and aims The principal objectie and aim of the Trust as detined in its Articles of Association is to work tor the benefit of young people and by such meihods as ihe Tnjsi shall detem)ine. The thrc¢ principlc strands to its WOTk B'ith young p¢opl¢ a Intense and sustained personal developmeni Ongoing long lem pastoral gupp)rt High¢sl l¢v¢l of art16tic {or cultural) ¢iigag¢Tn¢nl ACHIEVEMENT AND PERFORMANCE Aehievements and performance During the year the niain focus was to deliver our Blank l¥all Project. Based in H2leso?en the project provided weekly work.shops in various artfornis in ord¢r for th¢ panicipanls to cr¢at¢ a KrTres of str¢¢t art imagcs around Ilal¢sowen Town Centre. Final installations were completed in December, the proj4t is now eieating an exhibition to promote the work undertaken Funding for ihis includcd Arts Council. Na(ional Lollcry. Dudley MBC and various local and national charitabl¢ tTrts. Black Country Radio have remained c1elY involved a media p3ttsJer foT our activities. Ivebslte DuTlti¥ th¢ y¥ th¢ ulil w¥bSlLe t¢lir¢d a nvm. Ivok w¢bsil¥ L¢lld &inJ IdunLh¥d P1 Of th¥ Bl<iuk Witll PriJjtLt. Th¢ website, www.l¢apsandbounds.org.uk coniinues 10 be well and has seen an incr¢as¢ in use since its r¢nOarIon and is as both a point ot Contact and foT inforniation about ihc Trust. FINANCIAL REVIEW Fin8ncial position Th¢ fin4ncial situation lor the Trust remains ¢hallenoin& in ¢omnon , siinilar smaller ihird s¢¢tor organisations. HO¢'¢r, bcqu¢stS, 5ucc¢ssful Lottery bids and th¢ provi5i0n of csU112n¢Y s¢ri'ic¢b continu¢ to ¢as¢ the situation sointwhat in mecting our eore costs. The Directors will continue to keep a close eye on cash-flow.
Leap5 and Bounds Trust- Inspirin2 Change Ltd (Registered number: IKL112785) Report of th¢ Truste¢s fur the YeAr Eded 31$t December 2023 FIf4ANCIAL REVIEW Partnerships The Trust has entered into vaThous partneT5hip 3rrdn¥eTnets with a number of organisations both as delivery partners and fund¢rs. Thcs¢ ar¢ it¢mis¢d b¢low.' Partners Art¥ Coun¢il England National Lottery Comrnunity Fund Dudley MBG, Ilalesowen BID Cornbow Centre, Halesowen Black Country Radio Reserves polic). As the Trust has no direct employees there are nLI liabilities for the costs associaied with this aspeci and it is eonsidered that the current Ice1 of frce rescrves will sutliiient tor ihL organisaiion io operaie cffectiN.'cly durin the currcni transition p¢riod although th¢ tru51¢¢s ar¢ conslantly looking for sourc¢s of addilional cor¢ funding lo ciiablc th¢ Tru51 to stay liiiancially viabl¢. FUTURE PLANS Througyh conbultancy arrangements, the Trust continues io identifv fuiure projects and sources ot funding. The Directors also a8reed that the Trust should continue to identify project delivery potential pariners a trate81C aim. STRucfuRE, GOVERNANCE AYD IWIANAGEfvIENT Goi'ernln2 documen¢ The alYair5 01 th¢ Lcaps and Bounds T¢ - Inspiring Change Lid. I"thc Trnsl"). thich is a company limited by guaranlcc with charitable statiis (since July 21K)81, are govemed by lis Articles ot Association and are Ihe reswnsibility of the Trust's Board of Dirertors. Reernltment ad appolntment of new trnstees Th¥ Bu£ird Lurrenily LuInpris¥s tuut IDdii'idudls whu h11¢ dD inL¢r¥s1 ur ¢xp¥riis¥ ID workiD¥ Ihruu¥h Llllture (Ind lh¥ dtls with al risk young people were who appointed as Direciors b), Board. There are in addition four non-i'oting members who act as Consultants to th¢ board. Th¢ R¢1.1 of th¢ TTU5t has id¢ntifi¢d 3 need for additional expcrtls¢ and PepectIv¢s.. aecordingly approaches are currently being ttvdde to a number of other fleld experts to join the Board. Organisational strucre The Board is responsible for Ihe affaiTS of the Trnst. Th¢ Chief Exe¢utiY¢, Treasurer and consultant team deal with the day-to-day operation of th¢ organisalion. Induction and trainillg of neTrv trustees Board menibers are experienced indii'iduals in the fields of the arts. local goiTernment and Nwlnerable young people and mosl ar¢ als0 m¢mb¢Tr' oi boards and Tllanag¢Tn¢nl LOTnmitt¢¢s of SiTnilar OTganisalions. Full induction is oll"¢r¢d io all ll¢w Board Tn¢mb¢rs. Ongoing training is organiKd and d¢liv¢rcd to d¢al Ivith thc strdtcgic d¢Y¢loptncnt of the organisation and to addre%.% anv out%tanding identified needs. Page 3
Leap5 and Bounds Trust- Inspirin2 Change Ltd (Registered number: IKL112785) Report of th¢ Truste¢s fur the YeAr Eded 31$t December 2023 STRucfuRE, GOVERNANCE MANAGETrIENT Risk management The Directoi% haN'e undertaken a formal of thE major risks to hiCh the Trust ma}. be exposed. This a%%es%inent remains ongoing. Aetions Lind proceduies to addres5 these ii5ks are inLOtpordted Into the varidus bugiiiesg and other plans which have been pul in place during the Teported period. Individual Dirtytors are charged '1th overseeing any potential risks. Approved by order of the board of trustees on 3thh September 2024 and signed on its behalf by= K Hvrsfall - se¢tary Page 4
Independent Examiner's RerI to the Trustees or Leap5 and Bounds Trust- Inspiring Change Ltd Independent examiner's report to the trustees of Leaps and Bounds Trllst- Inspiring Change Ltd ('the Company.) I report to the charity Iruslee5 on my exaTnination of the accounts of ihe Company for rhe year ended 3 Isl December 2023. Respon$ibllltles basls of report A.% the charity's tlIE£s of the Cornpan} {and al it% dirtctofi for the pUrse of Compan law) you ate iesponsible for th¢ preparation of the a¢¢ounts in i)c¢ordan¢e ivith th¢ rwuir¢Jn¢nts of th¢ Cotr.panics Ad 20061'the 26 A¢t')- Having saiisfied mvself ihat the accounts of ihe Companv are nol required to be audiied under Part 16 of ihe 2006 Act and are eligiibl¢ fur ind¢p¢d[ ¢xamindlion, I rq)ort in r¢sp¢ri of vn). ¢XdTn".naiion of yvur ¢harity's accounts as ¢arri¢d oui under Section 145 of the Charities Act 101 l {'the ?Ql 1 .4ct'). In catrying out my examination I have followed the Directior15 given by the Charity Commission und¢r Section 145(5) Ibi of the ?0 I l Act. Independent examintr's statement hai'e compl¢led my ¢xaininaDon. I confirni that no Tnaiiers have ¢om¢ lo my atienlion in ¢onne¢tion with the examinaiion giving m¢ caus¢ to b¢ll¢e- accounfing records were not kept in respect of the Company as rquired by Section 386 of the 2¢N)6 Act,. or Ihc accounts do not accord with thosL' rceords; OT th¢ accounls do not comply with thc accounting qUir¢¢tS of S¢clion 396 01. lh¢ ?006 Act oihcr than any rcquircm¢nt that th¢ accounts ¥iv¢ a truc and fair viJTr which is not a matter consid¢r¢d as part of an ind¢pend¢nt examindiion. or the accounts have not been prepared in aLcordanee 'ith the methods and principles of the Stateinent of Recommended Practice tor a¢¢ounting and reporting bv ¢haTilie$12ppli¢able to ¢haTities preparing their accounts in accordanc¢ iN'ith thc Financial Reporting Standard applicabl¢ in lh¢ and Republic of Ir¢land IFRS 10?)). I hai'e no concerns and havt come acros8 no 011r matteTS in connection with the examination to which attention khould be dr8n in this report in order to enable a proper understanding of the accounts to be teached. N A W¢stwood Neil Westwood & Co. Chartcrcd Accountants l O l Dixons Gr¢¢n Road Dudl¢y DY2 7DJ 30th September 2024 Page 5
Leap5 and Bound5 Tru5t- Inspiring Change Ltd Statement of Finaneial Aetii'ilifs fur the YeAr Eded 31st December 2023 2023 Total runds UDrestriclcd rund Rcstrictcd Tolal funds INCOME AND ENDOWMENTS FROM Charitable actii'ities Blank wall 47.(M)O 47,000 94.945 EXPENDJTURE ON Charitable activities Blank wall 83,151 83.151 51,833 Other Total (?0) 1.928 1,908 85,0£9 1,9?7 53,760 NET INCOMEI(EXPETr•DITURE) 20 (38,079) (38.059) 41,185 RECONCILIATION OF FLryDS Total tunds brought fanN'ard 149 42.034 42,183 998 TOTAL FUNDS CARRIED FORWARD 169 The notes forni part of these financial Starments Page 6
Leap5 and Bounds Trust- Inspirin2 Change Ltd (Registered number: IKL112785) Balance Sh¢et 31st Deeember 2023 2023 2022 Noi¢s FIXED ASSETS Tangible assets 7.074 CURRENT ASSETS Deblors C4i%h at bank 197 197 36,9117 37,104 4.974 CREDITORS Amounts talling duc within onc ycar 1850) (1.995) NET CURRENT ASSETS -15.109 TOTAL ASSETS LESS CURRENT LIABILITIES 4.124 42,IX3 NF.T ASSETS FUiYDS UiiTestriited funds Reslricted funds TOTAL FUNDS 4.1?4 169 149 The charitable compan> is entitled io ¢xemption trom audii undcr Scclion 477 of th¢ Companics Act 21K>6 for the year ended 31 st December 2023. The members have not required the company to obtain an auth"t of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Aci 26. The trustee.s acknowledge their responsibilities for (al ensuring ihat the Lharitable company keeps accountiiig records ihat comply with Sectionb 386 and 387 01 the Companies Act 21KJ6 and preparing financial statements M'hich gil'e a true 2nd fair iryew of the slate olaffairs of the chariiable company as al ilit ciid of tacli fiiiai)Lial y¢ar aiid of its surplus or d¢ficit for ¢aLh fiii)i)cial y¢ar iii aLLOJ'daiiL¢ wirli tlie I¢quii'¢iii¢iits of Se¢tion.5 394 and 39) and 'hICh oihernise compl!. w'ith the requirements of the Companies Act 2tK)6 relating to financial statements. so far as applicable to the charitable company. Ib) The notes forni part of these financial Starments Page 7 continued...
Leap5 and Bounds Trust- Inspirin2 Change Ltd (Registered number: IKL112785) Balance Sh¢¢t- continued 31st Deeember 2023 These tinan¢ial statements have been prepared in accordance with the provisions applicable io Charitable companies subject to the small companics rcgimc. The fin2neial statements w¢re approved by thc 4rd of Trustees and authoriscd for issue on 30th September 2024 Jnd were signed on its behalf bj.. D J Hodson - Trustee The notes forni part of these financial Starments Page 8
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts fur the YeAr Eded 31st December 2023 ACCOUNTif4G POLICIES Basis of prep2rinx thv fiDan¢ial stalemellt5 The fInle11 statements of the ehaiitablt Lompany. whiLh 15 a publie benefit entity urtdei FRS 102, have beti) prepaTed in accordance with the Charities SORP IFRS 10?) 'Accouniing and Reporting by Charities- Statement ot. Recommended Praciice applicable io chariiies preparino iheir aCcn(S in accordance wilh ihe Financial Reporting SiandaTd applicabl¢ in th¢ LIK aiid R¢public of Ireland i FRS I O?) {eiT¢¢ti%'e l Jdnuary 20191,, Finaniial R¢p()rting Standard 102 The Finanrial Reporting Standard applicable in the UK and Republic of Ireland, and the Compaiiies Act 2006. The financial statements hav¢ been prepared under ihe historical cost convention. Ineome All incoTn¢ is r¢¢ognis¢d in th¢ Staiement of Financial A¢li¥'iti¢s once lh¢ ¢harits, has ¢ntitl¢m¢nt to lh¢ funds. il is probablc that th¢ inco will b¢ r¢c¢ived and the aniount can bc measud rf liably. Expenditure LiabililiLS are rL'cognised as cxpenditsJrL' as soon as there is a ILgal or constrnctive obligation committing the charity to that ¢Xnd]lur¢. it is probabl¢ thal a transfcr ot"cconomic b¢n¢fils will bc r¢qUIr in s¢ttl¢in¢nl and lh¢ amount of the obligation can b¢ m¢asur¢d r¢liably. Expcnditurc is accountcd for on an accruals basis and has iK¢n classlti¢d under heddings Ihdi aggregate all cosi re]ateil io the Laie4orJ. Where cosis cdnnul be directly diiribuied 10 partIuldr headings they have been allocated to activities on a basis consistent with the use of resources. Taxatio The charity is exempt from Co[ratIOn tax on its charilable activitles. Fllnd aecounting Unrestricied funds can be used in accordance 7th the chan"tsble objectives at ihe di$¢tIOn of the truse$. Restricted funds can only be used for particular restricied purSeS within the objecis of the charity- Restrictions ariRe when 8peEified by the donor or when funds are raised for particular restricted purpos. Further explanation of the tthtur¢ and purt)ose of each fund is included in the notes to the financiol statemei)ts. Page 9 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 LYET INCOL¥IElffXPENDITUREI Net incomellexpendituie) is stated after ch3rgingJ'lcreditin¥l'. 2023 2022 D¢pre¢iation - oHmed assets TRUSTEES, REMuf*E114TION AND BENEFITS There were T]0 Irustee5' remuneration or oiher benefits for the year ended 3 Isi Decetnber ?023 nor for the year ended 31st D¢ccmber ?022. Tru$tee%' Èxpenses Thcrc wcrc no trustecs, cxpenscs paid for the year ended 31si Deccmber 2023 nor for the year cnded 31st Dccembcr 2022. STAFF COSTS The aN'¢rage monthly number of ¢mploy¢es during the year was as follows= 2023 2022 Directors No cmployccs rtte1v emoluments in CAC5 of £60.0. Page 10 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 TATr4GIBLE FIXED ASSETS Fixiures and fittings Computer equipTnent TotJls COST Ai Ibl January 2023 and 318t December 21123 DEPRECIATION At Isi January. ?023 Chargc for ycar At 31 bt Decembcr 2023 ET BOOK VALUE At 31 It Dtccmber ?023 At 31 bt Dtc¢mber 20*2 960 13,188 5.154 6,114 7.074 960 12.228 DEBTORS: lOuBlTs FALLING DUE ITrITHIN ONE YEAR 20?3 2022 Prepayments 197 197 CREDITORS: AMOUNTS FALLING DUE W'ITH1 ONE YEAR 20?3 2022 Bank loans and ov¢rdrdfts (stt not¢ ¥) Accru¢d Cxpes¢S 376 Page 11 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 LOANS An analysits of the maturity of loans is giyen below: 2023 2022 Amovnls falling du¢ wiihin on¢ year on demand: Bank overdrafts 376 ANALYSIS OF NET ASSETS BETNTr'EE.Y FUNDS 2023 Total nds 2022 Total funds Unrc5trict¢d fund Rcstricled Fixed assets Current assets Currcnt liabililics 7,074 37,104 169 4.805 850) 4,974 850) 169 MOVEMENT IN FUP4DS Net movement in funds At At 1.1.23 Unrestricted funds General fund 149 20 169 Restrleted fMnd$ Blank Wall 138.079) 3,955 TOTAL FUNDS 138 059) Page 12 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 io. MOVEMENT IN FUNDS- Contined Net TTK)veTnent in funds, included in the above are as follows.. Incotning resources Resources expended Movement in funds Unre$tri¢ted funds General fund 20 20 Restricted funds Blank Wall 47,000 185,079) {38,0791 TOTAL FUNDS 185 059) 38 0591 Comparlltives for moiement im funds N¢t Transfers b¢tw¢¢n mov¢mrnt in fujids At 31.12.22 At 1.1.22 Unrestricted funds G¢ner¢il fund 99¥ (1.927) 1,07¥ 149 Reslricted funds Blank Ivall 43,112 {1,078) 42,034 TOT AL FUNDS 41.185 Comparalive nct movcmcni in fund& included in thc a)ve arc as follows.. Incotning resources Resources e.¥pend Movement in fwids Unrestricted funds GJ¢Tal fund (1,927) (1,9271 ReslTie¢ed funds Blank Wall 94.945 151.833) 43.112 TOTAL FUNDS 94.945 Page 13 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 io. MOVEMENT IN FUNDS- continued A current year 12 months and prior year l? montlLS combined SitiOn is as follows= et moveineni in funds Transfers beiween funds At 31.12.23 Ai 1.1.22 Llnrestricted fud3 General fund 998 (1.9071 ,078 169 Re51TiCted funds Blank Wall 5,033 (1.078) 3,955 TOTAL FULYDS 998 A current year 12 months and prior year 12 months ¢ombined net movement in funds, included in the above are as follows.. Incotning rewurce R¢sOUt¢¢5 expended Mov¢m¢nt in fund Unrestricted funds G¢n¢Tal fund 11,907) (1,9071 Reslricted funds Blaiik Wall 141.945 (136,912) 5,033 TOTAL FUNDS 141945 138 819) Page 14 continued...
Leap5 and Bound5 Tru5t- Inspiring Change Ltd No¢¢$ to the Fin4n¢ial Stgt¢metJts- continued fur the YeAr Eded 31st December 2023 ii. RELATED PARTY DISCLOSURES There were no related party tran5action% for the yvdr ended 31st December 2023. Page 15
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