Nene Valley Care Trust Annual Report and Unaudlted Financial Statements for the financial year ended 31 October 2024 ZinGBooks 27 Nèttle Gap Glos• Woottot) Fields Northampton NN4 6AH GB Charity Number: 1126779
Nene Valley Care Trust CONTENTS Page Trustees. and Other Infomiation Twstees, Report Stslement of Trustees. Responsibiliti8S Independent Examln8rfs Report Statement of FirKncial Adlvities B'alance Sheet 10 Notes to the Financial Statements
Nene Valley Care Trust TRUSTEES. AND OTHER INFORMATION TNStees Mrs A Ch8mb8rlaln {R8slgned 31 December 2023) Mr Q Macdougall (Resigned 30 June 2024) Mrs J Klrkbride Mrscoe Mr R Munro (Appointed 6 June 2024) Mrs A Pawar {ApFX)inted 4 December 2023) Mrs F Baker Mr H Ansfey Lady A Arculus {Reslgned 31 December 2023) Mrscog Ghairporson Charity Number in England and Wales 1126779 Prlncipal Address 5 Pexley Court Oundle NorthamOnshire PE8 4EL Unrfed Kingdom Independont Examin•r ZinoBooks 27 Nettle Gap Close Wootton Fields Northampton NN4 6AH GB
Nene Valley Care Trust TRUSTEES. REPORT for the financial year end&d 31 O¢tober 2024 The trustees present their Trustees. Report and the unalted finandal stalementy for the financsal ygar ended 31 October 2024. The financial statements are prgpared in ac¢ord8nce wllh the Charities Act 2011. FRS 1 tr2 Yhe Finan¢Fal Reportlng Standard applicable In the UK and R8publlc of Ireland. and Accounting and Reporting by Chariles.. Statement of Rec¢xnmended PraGtice applicable to charilles preparing thelr financlal statements in 8cGoOanGe wilh the Financlal Repong Slandard applloable In the UK and Republic of Ireland (FRS 102), The Tru5tees' Report contains the infomiatlon rgqulred to be provlded In tho Truslees, Annual ReKiort under. the statement.of Recommended Practice {SORPI guldelines. The trustees of tre charty are also charity trusteès for purpose of charity law and under the chajiws conslttutlon are knobvn as members of the board of trustees. In this report th8 trustees cf Nene Valky Care Trust present a summary of ils purpose, governance. aclivilles, achtevements and finances for the flnandal year 31 Octobor 2024. Th9 charity 1$ a registgred charfty and although not obliged to comply wlth the Statement of Recommended Practice applicable in the UK ond Republic of Ireland FRS 102, the organlsatKin has implemenlgd Its recornmendatic)ns wh&ra relevant In these finanGlal statements. Prln¢lpal Aclivlty The object of the tharfty is the rellef of and advanc8ment in life of young adults and disadvants9ed peopjg who have been in Ioc818uthority and foster care as mlnors for at least one year {with or without famlly ties) UFX)n reaching Independence in the Nen& Valley. Misslon, Oble¢tives and Stratsgy Mlssion Statement The object of the charity is tha relief of and advancement in life of young Ults and di8advantag8d people who have been Sn hxal authority ahd fostor care as minors for 8t least one year (with or wllhout famlly ties) upon reathing independence in tho Nene Valley being the county of Northamptonshlre, Tha Unitsry Authority of Peterborough and such parts of Cambridgeshire as Eonlains the Nene Valley to help Ihem develop fheir sklllE, Gapacilies 8nd capabifitles while engaged In education, employmenl and tralning, $0 a3 to en8blÈ them to parti¢lpat8 In soclety as Independ&nt, maturo and responsiblè adults by Such charitable means as thè thJ8tees 8hall detsmilne. Structure, Governanee and Manag¢mgnt Strudure The Nene Valley Care Trust is reglster8d as a charity with the Charity Cornmi$$lon. The ¢haTily Is verned by conslitution adopted on 31 October 2008. Composftlon of the Board and Boar(l Appolntment Proc988 The Trustees who sarved durlng the year and up to the date of 8lgnature of the financial ststemonts w?r8.' Mr H Ansley Lady A ATculus (resigned 31'D8cember 2023) Mrs J Klrkbride Mr Q Macdougall (resigned 30 June 2024) Mr8 A Chamb&rlaln [resignerJ 31 December 2023) MTS F Baker Mrscoe Mrs A Pawar {Appolnted 4 Dec9mbei 2023) Mr R Munro (Npw'nted 6 June 2024) New trustee$ are elected by the exi81ing trustees of the charity with appoinlments and reappointmenls belng de¢lded ijn annual basls. Trustees have the power lo appoint trustees on an InlerIm basls until the next AGM. Mts Am81iit Pavrnr Joins us In thelr role as Trustee from 4 December 2023 as an ongolng ernplDyee of Rlgm Resolution CIC, who the charlty ¢ontlnuès to ulilise Ihe services of. The board and Arnarllt actept this position with thè consid&ration and Judgernent that It shall not Impedg onthgir impartiality In eithgr role. Commlttees of the Board and Tomis of R•fer•n¢e New tsu8tees w¢ll undertake a brlet orientation wlth Some of the extstlng trustees prior to recommendallon for appointment during which timè they will have had the vlsion and strategy of the Ghartty èxplained to them. Truste89 re encouraged to attend appropriate extemal trainirg events where these wlll facllltsla tho p8rfomanG8 of thew rofe.
Nene Valley Care Trust TRUSTEES, REPORT for the finan¢1 year ended 31 October 2024 Reviow of Actlviti8s, AGhlovements and Perfomianee Families First Pelerborough Funding was provided lowards the Cost associated wilh employing one part-tirlle youth .worK&r. Their role was to 8UPPLFrt care experignced young people to engage in other sUPPOrt services, und8rt8ke either job searches or training opportunitres and complete as50Ciated applications, access goodwill parcels and engage in positive activities. Right Resolution- Northampton5hire Funding was provided to support three distinct projects= Discovery Days Youth project W8s created in partnership wth young people after con5u112tion: observations and discussions that car8 leavers do not have the same opportunilies as the general population of young people. Barriers for this included lack of finances, confidence, opportunty. support, and enGouragement from a wider neork. Discovery Days helps overcome these barriers resulting in positive outcomes for young people i.e. increase their emotional and mental well-being, The prtsject delivery inGluded'. Socsal Activities Guest Speakers Volunteering TraininglEducabon s-11s building via artslcrafts. Fundraising Give back to community. The Circus project provid8d a huge range of activiti8s ihat will fit in wth ihe aims of Nen8 Val18y Care Trust. The basis of the projeGt was training in physical skills such as a¢robatlcs, uni.cyclin9, stilt walking, light rope walking. hoola-hooping. juggling and ¢lowning. There was also opportunities for performing, making puppets, and perfrnIng puppel shows. We have been fortunate thal Right Resolutton staff member Chertene Whitehead who Is a trained ¢ircus perfom)er. She has extensive experiènce in training olhers as well as working with charitable Goncems both at home and abroad. The food bank proje¢l is orn01ng. It provides essential, regular, rellable, baslc foods and necesglties for 8ny care leaver residing in Northamptonshire. Referrals for the food parcels are requested by a number ol social care professionals i.é. Leavlng Care Personal Advisorfs and accommodation providers. The food bank has bèèn iec8ived positively by soclal Care and has been described as 8 lifeline. for many. In the psst tsvo years the take up has been increasing, providing more food par¢els. and increasing our Impact. The demand has inc8$ed due lo Ihe cost-of-living Grisis th&reftsre it is essential that we to continue to provide a food bank which gives our beneficiaries a dendable, regular, weekly Gontribulion towands théir.basi¢ needs. Flnanclal Review The results for the financial year are set out on page 9 and additional notes are provi¢ed showing Income and expenditure in greater detail. Resutts and Dividends A* the end of the financial year the charity hag assets of £252.269 {2023 - £207,920) and liabilities of £900 {2023 - £2,300). The net assets of the chartly have increased by £45,749. Réserves Po$itlon and Pvlicy The ch8rity'5 Trustees consider that the general unresttlcted reseNes of £251,369 al 31 October 2024 ar8 sufficient to suslain its operations over the forthcoming year. The TNslees actively monitor the reserves of the charity at regular Trustee meetings and make appropriate arrangements to ensu the charity ha5 adequate resource5 to continue to oper8te. Prlncipal Rlsks and Uncertaintlts The charity's trustees have a85e5sed the major tisks to which Ihe charity 15 exposed. in partiGular those relat8d to the operations and finances of th8 charity, and are satisfied that system5 are in place lo mitigate their exposure to Ihè major risks. Compllance wlth Sector-wido Loglslalion and Standards The charity engages pro-actively with legislation, standards and Godes which are d8velopgd for the sector. Nene Valley Care Trust subscribes lo and is ¢ornplianl wilh the following: The Charities SORP IFRS 1021
Nene Valley Care Trust TRUSTEES. REPORT for the financial year ended 31 Oclobgr 2024 Approv•d by Iho Board of Trustevs on i 3/&1 and slgned on Its b•hall by: nro Trustee rs F Bakgr Tntee
Nene Valley Care Trust STATEMENT OF TRUSTEES. RESPONSIBILITIES for the fln8ncial year ended 31 October 2024 The trustees are responsible for prepartng the financial slatemenl$ in accordance with appIlble law and regulab'ons. Thè18w appli(sble to Gharities in England and Wales requir&s Ihe twslees to prepare financial statem8nts for each financial year which give a Inje and falr vlew of the assets, liabilities and financial position of Ihe charity as at the financial year end date and of the surplus or deficit of the charity and otheiSe cornply wllh the Charities Act 2011. In preparing these financlsl statements. the Irijstees are required lo= selecl suitabl& acwunling policies and apply them ¢onsi5fenlly.' make Judgements and accounling estimates that are reasonable and pNdenl', slate whether Ihp financi81 statements have been prepared in accordan¢e wlth applicable accountlng standards, identify those standards, and note the effect and the reasons for any material departure from those standards. and prepare the linanciol statements on the goiro Goncem basls unless it is inappropriate to presurne that th& chaflty will continue in operation. The trustees Gonfim that they have compllèd with the ?bove Tequiraments in pparIng the financial slatemenls. The trustees are responsible for keeping adequate accounting records that ar8 $uffielenl to show and explain the Charity's transaclions and dlsclose with reasonable accur80y at any time the financial posllion of the charity and enable them to ensure that the financlal statem8nt5 comply with the Charities Art 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonabl8 Steps for the prevenlitsn and det6clion of traud and other irregularities. Approved by the Board of Tru$tees on and signed on Its behalf by: Mrs F Baker Trnst•o ro Truste•
Nene Valley Care Trust INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF NENE VALLEY CARE TRUST We have examined the financial slatemerts of the charity for the financial year ended 31 October 2024, lch cornprise the Statement of Financial Activlties, tha Balance Sheet and ihe related notes. This report is.made solely lo the ¢harWs membors. as a body. In accordance wlih section 145 of the Charittès Act 2011. Our work has been undertaken so that we might compile the financlal ststgments that we have been engaged Éo compile, report to the Board of Tnjslees that we have done so. and state those matters that we have agreed to stste to Ihem in this repo.rt and for no other purpose. To Ihe fullest exletTrt pemirtted by law. we do nol accept or assume responsibility to anyone oth6r than the charity and the CharitS members, as a body. for our work, or for thi5 report. Respective responsibilitles of trustees and examiner. The rjjarity's trustees are responsible for the preparation of the financial statements in accordan with the Tequirements of the Charities Act 2011. The charity's trustees consider that an audit is not required for this financial yéar under Section 145 of the Charllies Act 2011 and that an independent examination is required. 11 is our responslbility lo.. examine the finan¢ial statement$ under.section 145 of the ACL. follow the ptocgdures laid down by the gen&ral Directions given by the Charity Commisslon under sectlon 14515) of the Charities Act 2011., and stsle whether particular matters have como to our att8nfion. Basls of Independènt examine$ r8port Our examination.was carried out in accordance with th9 gerra1 Directlons glven by th8 Charity Commission. An examination includes a review of the acGounting records kept by the charity and a'comparison of the financ7al statfrments presented with those records. 11 also includes conslderation of any unusual items or disclosures In the rinancial 6tolements and s88king explanalions from the tfuslees conc8rning any such matters. The procedurés undertake.n do not providè all th8 ewd8nce that would be required in an audit and ¢on8equenlly no opinion is given as lo wh8ther tha accounts present a 'lTUg and fairf view and report 18 limited lo thosg matters sei out In tha ststemenl below. Indepond•nt frxamlner's statemen In eonne¢tlon wlth our examination, no matter has come lo our attention which glv88 US CgUS8 to beliève that in. any matorial respecl.. a¢countlw records were not kept in accordance with se¢tion 130 0! the Charities Act 2011 the fin8ncial statements do not accord wlth those a¢countlrKJ records the finanual stslemer71s do not comply with the accounting requlrements of the Charities Act Ihe financlal statements have not been prepared In accordano with the Statement of Recommended Practlco applicable to chariti68 preparing their actA)unts in atcordan¢8 With the Fin8n¢ial Reporting Standarrl applicabl8 in. the UK and Rgpublic of Ire18nd {FRS102} there is further infom)attoTr needed tor a proper understandlng of Ihe accounts to be reached. We have Th) concems and havo come across no othai mattets In connection with the exomin8tion to which attention should be drawn in this report in order to enable a propel LderStandIng of Ihe finanaal slatements to bè read*d. ZINCBOOKS 27 Nettle Gap Close Wootton Fields Northampton NN4 6AH GB Dale: .......
Nene Valley Care Trust STATEMENT OF FINANCIAL ACTIVITIES for tha financial year ended 31 October 2024 Unrestricted Funds 2024 Total Unreslrfcted Funds Funds 2024 20r3 Total Funds 2023 Notos Income 112,580 112.580 Donations and l&gacles Charltable activities - Grants from 9ovemments and other co-tunders Investments 96,621 96,621 255 1.755 255 1,755 1,156 1,156 98,631 98,631 113,736 113,736 Tolal Income Expanditui 12,100 / 12.100 40,782 40,782 3.121 161.340 3.121 161.340 Ralsing funds Charitable 8Ctivitle$ 52,882 52,882 164,461 164,461 Total Experidlturo Net In¢omel(expendlturel 45,749 {50,72S) 150,725) 45,749 Transfers between funds Net movoment lrt funds for thg flnan¢lal year Recon¢lliatlon of fijnds: Total fund5 beginning of the year Total funds at the end of the year 45,749 45,749 {50,725) {50,725) 205,620 205,620 256,345 256,345 11 251,369 251,369 205,620 205.620 The Statement of Financl81 Activities Includes all gains and losses re¢ognised in the financial ygar. All income and expenditUTe relate to conlinulng 8ctivitles. The tte5 on paaes 11 to 14 fomi p8rtof Ihèfinanci81 ststemenls
Nene Valley Care Trust BALANCE SHEET "as at 31 October 2024 2024 2023 Current Ass•ts Debtors Cash at bank and in hand Notes 252.269 16.979 190.941 252.269 207.920 Crnditor5: Amounts falllng due wlthin on¢ year Net Current A¥sots (900} (2.3W) 251J69 205.620 Total Assets less Currenl Llabllltles Funds Genéral fund {unrestricted) Total funds 251,369 205,620 251.369 205.620 11 25q,369 205.620 The finandal statements have been prapared in accordance v4th the proyistons applicable to companies subje¢t to fhe small companies. regime and in accrdace with FRS 102 Yhe Financial Reporting Slandard appThcablg in tho UK and Republic of Iland, applylng Sgctlon 1A ol that standard. Approved by the 8oard of Trustees and aulhorlsed for issu8 on bèhalf by 2 s/¥e- and slgned on its Mr R Munro Trustee Mrs F Baker Tru$tee The notey on pages 11 k) 14 lorm part of the fiDancial statements 10
Nene Valley Care Trust NOTES TO THE FINANCIAL STATEMENTS fL)r the financial year ended 31 October 2024 GENERAL INFORMATION Nene Valley Care Trust is a charity incorporated in the Unlted Kingdom. The reglstered office of the chanty is 5 Pexley Court, Oundle, Northamptonshire, PE8 4EL. United Kingdom which 1$ also the principal place of business of the Gharity. The financial statements have been presentsd In Pound 1£) which is also thè functional currency of the charty. SUMMARY OF SIGNIFICAKf ACCOUNTING POUCIES The following accounting policies have been applied consistently in deabrvJ with items" which are considered material in relation to the chaiily's financial statement5. Basis of preparatlon The financial statements have been prepared on the going concern basis under Ihe histon.cal ¢ost convention. modifd to include ¢ert8in items at fair value. The financial statements have been prepared in acGordarKe with the Statement of Recommended Practice (SORP) "Ac(y)unting and Reporbng by Charilies preparing their accounts in accordance with the Financial Reporting Stsndard applicable in ihe UK and Republic of Ireland FRS 102" applying Section 1A of Ihat standard. A5 petmttted by the Companies Act 2006. the charity has v8ried the standard formats in that act for the Statement of Flnancial Activities and the Balance SheeL Departures from tha standard formats are to comply with the requirements of the Charilies SORP and are in compfiance wlth section 4.7, 10.6 and 15.2 of that SQRP. ststement of complianc• The fman¢ial slatements of the charity for the financial year ended 31 Odober 2024 hav• been prepared on. the 90ing concem basis and in accordance with the Stslement of Recommended Practice (SORP) "Attounling 8nd Reportlng by Charilies preparing their accounts in occordance with the Financial Reporting Slandard appliGable in the UK and Republlc of Ireland FRS 102., applying SeclK)n 1A of thal Standard. Fund a¢counllng 'The following are the categories of funds maintained.. R•8trlcted funds Restricted fijnds represent income receNed which can only be used for part¢cui8r purposes, as.specified by Ihe donors. Such purposes are wilhin the overall obj6¢tives of the charity. Unréstrl¢ted funds Unrestricted funds constst of General and Designst8d funds. General funds represent amLwnt$ which are expendable at th8 disGretion of the board, in furtherance of the objectives of the charity. . Designated fvnds comprise unrestricted funds that the board has, at its di%retion, set aside for parllcular purposes. These designations have an administrative purpose only, and do not legally restriGI the board's discrètion to apply the fund. Income In¢ome Is recognised by. inclusion in Ihe Statement of Financial Acltvities only when the charity is legally enlitl8d lo the inccwne. performance conditlons attached to the item(s) of income have been met, the amounls involved can be measured WI sufficient rellabilty and it is probable Ihat the income will be receNed by the tharity. Donations and logaclos Legacies are reLY)gnised on receipt or otheMi5e if the Trust has been notified of an impending distrlbution. the amount is known. and receipt ts expected. If the amunt is not known, the legacy is treated as a contingenl asset. InGome from Gharitsble activltie¥ Income Irom charitable aclivities include income e8med from the suppty of serwi¢es under conlrActual arrangements and from wfom)ance related grants which have wnditions that speufy the provision of partTGulaT services to be provided by the charlty. Income from government and other Gtrfunders 15 recognised when the chanty is legally entitled to the income be¢au5e it is fulfilling the conditi¢)ns contsined in the related funding agreem8nts. Where a grant is received in advance, its recognition is deferred and induded in ¢rediiors. Where entitlement occurs before Income ig rec8Sved, li is awued in debtofs. Grants from governmenls and other co4unders typicalty Include one of the follothlng types of conditions: Performance based condilions: whereby Iho charity is conlrartually enlitled to fundlng only to Ihe exlenl that the core obj8Glives of the 9rant agreemenl are athieved. Whère the charity is m88ting the core objectives of a 11
Nene Valley Care Trust NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 October2024 grant agreèment, 11 recognises the related exndIture, to the extent that It Is relrnbursable by the donor, as income. -Tlm8 based conditions.. whereby the Gharity is contractualty entilled lo funding on the condition that 4t is utili$ed in a particular period. In these oa$98 the charity recognises the income to the extent il Is utilisèd within the period speufied in the agreement. In Ihg absence of such conditions, assumlng that reiEipt is Probab and the amount can be retiab measured, grant incorne is recognised onts the charity is nolrfied of entitlement. Grants received towards capital expeI[ure are credited to the Statsment of Finandal Activities when. receivod or receivable, whichever is e8rfier. Expendirn Expenditure is analysgd beeen costs of charitable activities and raising funds. The costs of each actlvty are separately accumulated and dlsclosed. and analy88d a¢cording lo their major components. Expenditure is recogrus6d when a legal or constructive obligation exists as a result of a past event. a transfer of economic benofits is reqLrired in selllement and the amount of the obligation can be reliatrY measured. Support costs are those functions that asslst the work of the charity but cannot be attn"buled to one activity. Such costs are alk)cated lo aGtivittes in proportion to staff tlme spent or IAher suitable rneasu lor each a¢tNity. Dgbtors Debtor5 are recognised at the settlement amount due aftar any di8covnt offeréd. Prepaymerrts are valued at the amount prepaid net of any trade discounts due. Income recognised by the chaiity from govemrnent agencles and other co-funders. bul not y9t received al fin?n¢tal ye8r end. is included in debtors. Cash at bank and In hand Cash al bank and In hand MpriSoS cash on depostt 8t banks requlring less than three months nolice of withdrawal. Taxation and deferred taK8tion No currgnt or defeTred'tSxa0n ar6ses as the chaTIty has been granted charitable exemption. Irrecoverable valued acfded lax 1$ èxpensed as incurrgd.. Deferred tax is rocognised In respecl of all tlming differences that have origin8t8d bLrt not reversad al the balance sheel dale whore transactions or events have occurred al that dale that will result in an obllgalron to pay mc>r8 tsx in th8 fvlure, or a right to pay less tax in thg future. Tlming drfierences are temporary dlff8rences between Ihe tharity's taxable profft8 and tts results as stated Ih the financlal slatgmerits. Defe tax is me8sured on an undlscounled basis at the tax rates that ar6 antiGipated lo aPY In the periods .sn which tho timing differences are expected to reverse, based on tax rat6s and laws that have been enacted or substantively enacted by the balance Sheet dats. Flnanclal Instmments Finanelal Instruments The Trust has elected to apply th8 provislons of Seetlon 11 'Basic Flnancial Instruments, and Sectton 12 'other Financial Instruments Issues, of FRS 102 10 811 of its flnancial inslruments. Financial instnjments are recognised in. the Trusfs balanGe sheet when the Trust becomes paty lo the contractual provisions ol the instrument. Financial assets and liabl11tS are offset, with Ihe nel amounts presented in the financial st8tements. when there 1$ a legally enforceable rrght to sel off the recognised amounts and tha is an intention to settle a net basis or to realise the asset and setire the liabllity simultaneously. INCOME DONATIONS AND LEGACIES UnrestrfctBd Restrlcted Funds Funds 2024 2023 Donalions ¥nd legacies 96,621 96,621 112,580 CHARITABLE ACTIVITIES Unr•strict4d Re$trict•d Funds Funds 2024 2023 Grants from gov•rnments and othor ¢o-fundors: Income from charitable activllies 255 25S 12
continued Nene Valley Care Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 October 2024 INVESTMENTS Unre$tri¢ted Re$lrlct?d Funds Funds 2024 2023 1,755/ 1,755 1,156 Investments EXPENDITURE RAISING FUNDS 2024 2023 Dlre¢t Costs Other Costs Support Cost$ 12,100 12,100 3.121 Raislng funds These are costs incu in attracting voluntary in¢ome, the management of Investments and those incurred in trading actlvlties that lse funds. ,CHARITABLE ACTIVITIES Other Costs Support Costs 2024 2023 Dlro¢t Costs 1 $8.666 2,674 Exp8ndilure on ohartsble activites Governance Costs (Note 4.3) 39,432 1.350 39,432 1,350 40.782 40,782 161,340 Charitable expenditure ¢ompTises Ihose costs incutred by the charity in the delivery of tts activTlies and ServIS for its b&neficiaries. 11 include$ both costs that Gan be allocatgd dlre¢tly lo su¢h acllvities and those costs of an indirect nature nec6ssary lo support them. GOVERNANCE COSTS Direct Costs other Costs Support Costs 2024 2023 2.674 Ch8ritabl¥ activities - gov8mance sts 1.350 1,350 All expenditure is recognised once.there is a leg81 or constructive obligation lo that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocat8d to the appliGable expenditure heading that aggregate similar costs to that category. Where ¢osts Gannot be dlredy attributed to particular h8adings they have been allocaled on o basis consistent wrth the use of resources, with cgrtr81 staff costs allocated on Ihe basis of time spent. and depreciation charg8s allocated orb th& portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Cost of 2024 SUPPORT COSTS Ralslng Funds 2023 12,100 12,100 Support ANALYSIS OF SUPPORT COSTS 2024 2023 12.100 Support 2024 2023 NET INCOME Net Incomo is stated after chargingl{¢redltlng): Depreolalion of tangible assets 15
Nene Valley Care Trust NOTES TO THE FINANCIAL STATEMENTS contlnued for the financial year ended 31 October 2024 INVESTMENT AND OTHER INCOME 2Q24 2023 Bank interest "1,755 1.156 DEBfoRS 2024 2023 Prepayments and accrued income 16.979 CREDITORS Amounts falllng duè wlthln one year AccnBls and deferred income 2024 2023 2,300 io. RESERV&8 Funds Total SurplusllDeficit} for the flnanclal year At the end of the year 45,749 45,749 45.749 205.620 2S1.369 11. FUNDS 11.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Tolal Funds At 1 Novernber 2022 ovement durtng the finanaial year At 31 October 2023 Movement during the financial year At 31 October 2024 256.345 {50,7251 256.345 (50,7251 205,620 45.749 205,620 45,749 251,369 251.369 112 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 November 2023 In¢ome Exp.enditure Transfe between funds Balance 31 October 2024 Uniestrf¢ted TrdS Unrestricted General 205,620 86.531 4D,782 251.369 Tptal funds 20S,620 86,S31 40,782 231.369 11.3 ANALYSIS OF NET ASSETS BY FUND Curr•nt assets Current Ilabllitle$ Total Unrestricted general funds 252,269 1900) 251.369 252269 (90D) 251,369 12. PO8T4ALANCE SHEET EVENTS There have been no slgnFficant evonts affecting the Charity $lnce the Ilnanci81 yearnd. 14