BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED
REPORT AND FINANCIAL STATEMENTS
## FOR THE YEAR ENDED
31 MARCH 2024
Registered Company No: 6768226 Registered Charity No: 1128217
BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED FINANCIAL STATEMENTS Year ended 31 March 2024
|CONTENTS|Page No:|
|---|---|
|Annual Report of the Trustees|1 - 4|
|Independent Examiners’ Report|5|
|Statement of Financial Activities (incorporating the Income and Expenditure Account) 6||
|Balance Sheet|7|
|Notes to the Financial Statements|8 - 11|
BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED ANNUAL REPORT OF THE TRUSTEES Year ended 31 March 2024
The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2014 (FRS102)) issued by the Charity Commission. Bradford Base Social Enterprise Company Limited is a registered charity.
## **REFERENCE & ADMINISTRATIVE INFORMATION**
Charity name Bradford Base Social Enterprise Company Limited (“Bradford Base”) Charity registration number 1128217 (England & Wales) Company registration number 6768226 (England & Wales) Registered address Bewick House, 16 Eldon Place, Bradford, BD1 3AZ
The directors of the charitable company ("the charity") are trustees for the purposes of charity law. Throughout this report, directors are collectively referred to as trustees. Those serving during the year and until the date this report was approved are:
Huw Jones (Chair) Ernest Gilbert-Gray David Noble Raymond Milne Abdulmateen Khan Gurmeet Singh Virdi Catherine Thomas Hao Zheng Katie Gates-Hartley David Targett (appointed 28/6/23) Fiona Hibbits (appointed 13/3/24) Richard Freye (appointed 26/6/24) Laura Benian (resigned 13/12/23) Robert Clayton (resigned 28/6/23) Steven Fox (resigned 28/6/23) Sara Johnson (appointed 28/6/23, resigned 12/6/24)
Members The sole member of the charity is Horton Housing Association Bankers Barclays Bank plc, 10 Market Street, Bradford, BD1 1NR Independent Examiners Crowe U.K. LLP, The Lexicon, Mount Street, Manchester, M2 5NT
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
Bradford Base Social Enterprise Company Limited is a charity governed by its Memorandum and Articles of Association, incorporated on 8th December 2008, and is constituted as a company limited by guarantee and not having a share capital.
## **Appointment of trustees**
The first trustees were appointed by a majority of the subscribers to the Memorandum and Articles of Association. Every trustee has the power to nominate another trustee who must then be approved by the trustees. The minimum number of trustees is three and the maximum is 12. The term of office for each trustee is three years. A retiring trustee who remains qualified may be re-appointed.
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED ANNUAL REPORT OF THE TRUSTEES _(Continued)_ Year ended 31 March 2024
## **Induction and training of trustees**
Potential new trustees are invited to attend a trustees' meeting as observer prior to consenting to be put forward for appointment as a trustee. New trustees must have completed a comprehensive induction process and are fully briefed on the activities of the charity. On-going training opportunities for trustees are available.
The charity's trustees take final responsibility for the general and financial well-being of the charity. The trustees meet at least three times a year. The main operations of the charity are that of a training and social enterprise centre and the day-to-day operations are the responsibility of the centre manager. He/she contracts appropriate staff and volunteers to run the service.
## **Risk assessment**
The trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate those risks.
## **OBJECTIVES & ACTIVITIES**
## **Objectives**
The objects of the charity are for the public benefit to:
advance education, training and retraining among those persons who through their social and economic circumstances are in need and unable to gain employment through the provision of gainful employment and of such training facilities as will enable such persons to acquire and develop vocational skills;
provide experience of regular work for such persons who would otherwise be unemployed to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved.
The trustees recognise their duties under the Charities Act 2011 and have referred to the Charity Commission's guidance on public benefit when reviewing the charity's activities and compiling this report.
## **Activities**
The main activity of the charity during the year related to the provision of education, training and employment support for refugees in Bradford, Wakefield, Kirklees and Calderdale via contracts for services with World Jewish Relief (part-funded by AMIF, the EU Asylum and Migration Integration Fund). World Jewish Relief also provided funding for the charity to deliver classes and activities for Afghan Refugees being supported in a Yorkshire hotel. The training centre, from which the charity operates, also provides a range of facilities including information and communication technology equipment to facilitate training for people experiencing a vulnerability and advisors working with such people.
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED ANNUAL REPORT OF THE TRUSTEES Year ended 31 March 2024
The charity does not undertake any fundraising activity.
## **ACHIEVEMENTS AND PERFORMANCE**
The charity has continued to provide education, training and employment services for refugees during the year. The support delivered via contracts with World Jewish Relief continued, although reducing as funding was reduced in the latter part of the year. The training centre is supported by corporate volunteers and volunteers from the general public without whose work many activities and events would not occur.
## **FINANCIAL REVIEW**
## **Financial performance**
The charity generated a surplus of £4,114 in 2024 (2023: £2,230). Overall turnover reduced slightly to £307,709 from £328,723. Core activities continued initially at similar levels to prior years, but have been wound back in the latter part of the year as funding has been reduced. The cost base of the organisation has been reduced accordingly and this reduction will be more significant in the coming year. The net assets of the charity have increased and the level of reserves is at a level that reflects the trustees approach to reserves.
## **Reserves policy**
The company has adopted the Reserves Policy of the Horton Housing Group and does not operate a separate policy. The policy sets out that sufficient reserves should be maintained “in order to provide reliable services over the longer term and have the capacity to absorb setbacks and to take advantage of change and opportunity”.
The Horton Housing Group operates comprehensive risk management procedures in order to minimise the risk of sudden financial loss or the inability to continue operating. The charity benefits from operational support and use of premises from the Group parent company, Horton Housing Association. Good risk management enables the charity to use its available funds as fully as possible to achieve its charitable objectives and reduces the need for large reserves to be held as cash.
The charity aims to steadily build up its reserves and as at 31 March 2024 the charity’s unrestricted general reserve stood at £68,183. The level of reserves is regularly monitored as part of its financial reporting and budgeting processes
## **Plans for future periods**
The contractual commitments for funding from World Jewish Relief were extended but at reduced levels in the 2023/24 year. The charity expects to continue its services delivering education, training and employment support to refugees in the district in 2024/25. The current contracts expire within the first quarter of the 2024/25 financial year, but we expect to agree a further extension until June 2025 on one contract and to March 2026 on another. The charity will also continue to seek opportunities to expand its other training and social enterprise activities to support its key objectives.
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED ANNUAL REPORT OF THE TRUSTEES
Year ended 31 March 2024
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees (who are also directors of Bradford Base Social Enterprise Company Limited for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant information of which the charitable company’s independent examiner is unaware, and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the trustees on 13 September 2024
**Huw Jones** , Director
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED INDEPENDENT EXAMINER’S REPORT Year ended 31 March 2024
## **Independent Examiner's Report to the Trustees of Bradford Base Social Enterprise Company Limited ('the Company')**
I report to the Company trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and Basis of Report**
As the trustees of the Company (and 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'), and the Charities Act 2011 (‘the 2011 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 the Company’s accounts carried out under section 44 (1) ( c) of the 2006 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
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 that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 44 (1) (a) of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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)]; or
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.
This report is made solely to the Company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's trustees as a body, for my work or for this report.
Vicky Szulist, ACA **Crowe U.K. LLP** Chartered Accountants The Lexicon Mount Street Manchester M2 5NT 16[th] September 2024
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## BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (incorporating the Income and Expenditure account) Year ended 31 March 2024
|_Notes_
**Income from:**
Charitable activities
5
Donations
**Total**
**Expenditure on:**
Charitable activities
6
**Total**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
8|**Unrestricted**
**2024**
**Unrestricted**
**2023**
**£**
**£**
307,709
328,723
-
-|
|---|---|
||307,709
328,723|
||303,595
326,493|
||303,595
326,493|
|||
||4,114
2,230
64,069
61,839|
||68,183
64,069|
All incoming resources and resources expended are derived from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 8 to 11 form part of these accounts.
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## BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED BALANCE SHEET as at 31 March 2024
||_Note_|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
|**Current assets**||||
|Debtors|3|85,517|103,140|
|Cash at bank and in hand||107,166|21,776|
|||──────|──────|
|**Total current assets**||192,683|124,916|
|Creditors: Amounts falling due within one year|4|(124,500)|(60,847)|
|||──────|──────|
|**Total assets less current liabilities**||68,183|64,069|
|||──────|──────|
|**Net assets**||68,183|64,069|
|||════|════|
|**Represented by:**||||
|Unrestricted funds|8|68,183|64,069|
|||──────|──────|
|||68,183|64,069|
|||════|════|
For the year ended 31 March 2024, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The trustees have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the trustees on 13 September 2024 and signed on their behalf by:
**Huw Jones** Director
**Ernie Gilbert-Gray** Director
The notes on pages 8 to 11 form part of these accounts.
Registered Company No: 6768226 Registered Charity No: 1128217
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED NOTES ON THE ACCOUNTS Year ended 31 March 2024
## 1 **ACCOUNTING POLICIES**
## **BASIS OF ACCOUNTING**
The financial statements have been prepared in accordance with the Accounting and Reporting by Charities (Charities SORP (FRS102)), Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015), the Financial Reporting Standard in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The accounting policies have been applied consistently (except as otherwise stated).
Bradford Base Social Enterprise Company Limited meets the definition of a public benefit entity under FRS102.
## Accounting Convention
The financial statements are prepared under the historical cost convention.
## Going Concern
The financial statements have been prepared on a going concern basis. The charity has adequate reserves and a satisfactory level of contracted future income.
## Income
Training and other income is accounted for when the charity has entitlement to the funds, it is probable that the funds will be received and the amount can be measured reliably.
Revenue grants are accounted for when there is evidence of entitlement, receipt is probable and the amount can be measured reliably.
## Expenditure
All expenditure is charged in the year to which it relates.
## Assets
The charity does not own any fixed assets other than expendable items of office equipment.
## Debtors
Debtors are recognised at the settlement amount due.
## Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amounts.
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED NOTES ON THE ACCOUNTS _(Continued)_ Year ended 31 March 2024
## 1 **ACCOUNTING POLICIES (continued)**
Deferred income is recognised when services have been billed for in advance of the services being delivered.
## Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2 Taxation**
As a charity the organisation is exempt from United Kingdom Income and Corporation tax on its charitable activities.
## **3 Sundry debtors and prepayments**
|Sundry debtors and prepayments
Amounts owed from group and related undertakings
**4**
**Sundry creditors and accruals**
Sundry creditors and accruals
Amounts owed to group and related undertakings
**5**
**Incoming resources from charitable activities**
Training income
Miscellaneous income
All income relates to the Charity’s main activity.|**2024**
**2023**
**£**
**£**
56,889
74,512
28,628
28,628|
|---|---|
||85,517
103,140|
||**2024**
**2023**
**£**
**£**
4,763
3,522
119,737
57,325|
||124,500
60,847|
||**2024**
**2023**
**£**
**£**
307,706
328,723
3
-|
||307,709
328,723|
|||
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## BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED NOTES ON THE ACCOUNTS _(Continued)_ Year ended 31 March 2024
## **6 Resources expended on charitable activities**
|Management charges
Audit fees (governance costs)
Other costs|**2024**
**2023**
**£**
**£**
289,532
269,094
3,413
1,350
10,650
56,049|
|---|---|
||303,595
326,493|
The charity does not directly employ any staff. All expenses relate to the Charity’s main activity.
## **7 Trustees’ expenses**
No remuneration or expenses were paid to trustees during the period (2023: £nil).
## **8 General funds**
|**General funds**||
|---|---|
|Balance at 31 March 2023
Surplus for the year
Balance at 31 March 2024|**2024**
**2023**
**£**
**£**
64,069
61,839
4,114
2,230|
||68,183
64,069|
All funds are unrestricted and can be used for the general objects of the Charity.
## **9 Financial instruments**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Carrying amount of financial assets measured at amortised|85,517|103,140|
|costs|||
|Carrying amount of financial liabilities measured at amortised|124,500|60,847|
|costs|||
## **10 Operating leases**
There are currently no operating leases (2023: none).
## **11 Capital commitments**
There were no capital commitments at 31 March 2024 (2023: £nil).
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BRADFORD BASE SOCIAL ENTERPRISE COMPANY LIMITED NOTES ON THE ACCOUNTS _(Continued)_ Year ended 31 March 2024
## **12 Post balance sheet events**
There have been no significant events since the balance sheet date.
## **13 Related party transactions**
The company has taken advantage of the exemption from the requirement to disclose transactions between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.
As at 31 March 2024, the following balances were due from/(to) other group companies in respect of the above transactions:
|bove transactions:|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Horton Housing Association|(119,737)|(57,325)|
|Horton Housing Support Limited|28,628|28,628|
## **14 Control**
The company is limited by guarantee and is controlled by its sole member, Horton Housing Association. The company’s financial statements are consolidated into the financial statements of Horton Housing Association. The consolidated financial statements can be obtained from Chartford House, 54 Little Horton Lane, Bradford, BD5 0BS.
Horton Housing Association is registered under the Co-Operative and Community Benefit Societies Act 2014, registered number 25057R, and provides supported housing and related support to vulnerable people who are in need of such assistance.
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