GAS Motor Project , www.gaspmotorproject.org Accounts GASP Motor Project 2023 - 24 ## **Table of Contents** **4 5 3** Introduction About GASP Trustee’s Report and Accounts **6** 7 8 Statement of Financial Reserves, Results Responsibilities Investments & Risk 9 10 11 Statement of Balance Sheet Independent ’ Financial Activities Examiner s Report 12 Notes to accompany the accounts ## **Introduction** As we move into our 20th year of operations, GASP continues to grow, develop and improve the lives of Surrey’s young people. As a team, we are incredibly proud of all the young people with whom we have worked this year - their attendance, progress against personal goals, AQAs achieved, and the increased positivity, confidence and self-belief they have developed. In response to our 2024 schools and student surveys, we further extended our curriculum. Activity topics have been broadened and extended to accommodate individual students’ needs and interests. In addition, extension topics facilitate greater engagement and ensure individual students can pursue personal interests and delve deeper into popular themes. We have seen a huge increase in demand for GASP courses, and have expanded our number of available teaching sessions by over 70% in the last 12 months. We launched our third mobile classroom in January 2024 and it was immediately operating at full capacity. To facilitate this increase in delivery, we have invested in new tools, equipment and teaching apparatus. Our activities remain vocationally focussed and hands-on, with minimal writing; however, all integrate core STEM subjects. As positive role models and mentors, our fantastic tutor team offer support and guidance to our young people, many of whom are not able to access this type of provision elsewhere. et FiORR **3** ## **About GASP** ## O U R M I S S I O N Working with some of the county’s most challenged and disadvantaged children, GASP offers courses in motor mechanics and engineering which range from 12weeks, to a full academic year. Our students are in disadvantaged multiple ways. They include youngsters referred to us from the youth criminal justice system; some have been excluded from mainstream education or are ‘school refusers’. We train refugees, young carers, children living in the care system and many young people with special educational needs or living in the most challenging home circumstances. Our courses are for a maximum of six young people and are taught by two qualified mechanics. Our 1:3 ratio ensures targeted learning and full engagement. Our tutors follow a prescribed curriculum but have the equipment, skills and knowledge to expand and enhance topic activities, responding to the interests and engagement of the students. Topics are varied and achievements are rewarded with an extended provision of AQA unit awards, creating a student portfolio of attainment. Whilst Surrey is considered affluent, it has hidden pockets of deprivation with high levels of child poverty, low income and poor mental health. In some areas of the county over 20% of children are impacted by poverty. Some of our young people face the deepest challenges. By working with partners to support those who have disengaged, we help reduce reoffending, decrease anti-social behaviour and improve the relationship between our young people and their communities. **4** ## **Trustees’ report and accounts for the year ended 31st August 2024** ## Management and Administration Incorporated in England and Wales as a company limited by guarantee on 26 February 2009, GASP was registered as a Charity on 18 March 2009 and is regulated by the Charity Commission for England and Wales. It was established under a Memorandum of Association and is governed under its Articles of Association. All Trustees give their time voluntarily and receive no benefits from the Charity. New Trustees are appointed after an interview process. Any expenses reclaimed from the Charity are set out in Note 6 to the financial statements. ## Trustees and Directors The Trustees of the Charity, who were also Directors of the company, during the period, were as follows: - Mr John Chaplin Mr Ian Digman Mr Stephen Drury - Mr Nicholas Elliott - Mr David Halliwell, Honorary Treasurer & Company Secretary Mrs Margaret Jack Mr Robert Pickles Overall responsibility for the Charity’s strategy, governance and policy lies with the Trustees. Day-to-day operational responsibility is delegated to the Chief Executive. She is supported by the Operations Manager, Executive Assistant and Programmes Coordinator. Charity Number: 1128635 Company Number: 6830792 Registered Address: The Sand Pit Shere Road Albury Guildford Surrey GU5 9BW Bankers: CAF Bank LTD 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Mrs Lynne Regan (appointed 17th October 2023) Mr Ian Watson, Chair Chief Executive Officer: Alexandra Thompson ## **Trustees’ report and accounts for the year ended 31st August 2024** ## Financial Results The attached financial statements show that the Charity recorded a surplus of £86,666. This figure reflects the receipt of additional funds in the year for covering future support costs as well as a substantial increase in the number of courses provided. The primary purpose of GASP is to provide an alternative practical learning facility that predominantly helps 14 to 19 year olds – most of whom are disaffected, disadvantaged and under-achieving – to accomplish and contribute more than anyone thought possible through positive personal development. Donations and grants received in the year amounted to £167,273. Further details are shown in the notes to the financial statements. The Trustees wish to record their thanks to all donors for their support. We expect demand for the Charity’s activities to continue to grow, resulting in more sessions being provided to more young people, with a resulting increase in operating costs. As forecast, we have increased the proportion of income generated by charitable activities. However, it is anticipated that the organisation will continue to need to raise funds through fundraising to cover the remaining significant proportion of support costs. We teach basic motor mechanics and practical engineering skills with a holistic approach, empowering these vulnerable young people to take positive action and laying the foundations for further vocational training and realistic employment opportunities. It is a local initiative that reaches out to young people countywide. By helping to tackle antisocial and offending behaviour, GASP contributes considerable public benefit to local communities across Surrey, in accordance with the Charity Commission guidelines on the provision of public benefit. None of the Trustees received any remuneration from the Charity. ## Public benefit statement The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set. ## **Trustees’ report and accounts for the year ended 31st August 2024** Statement of responsibilities of the Trustees / Directors The Trustees (who are also directors of GASP for the purposes of company law) are responsible for preparing the Charity's annual report and 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity 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 - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity 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 Charity's independent examiner is unaware 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 Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. **7** **Trustees’ report and accounts for the year ended 31st August 2024** Reserves Risk Review The Trustees wish to maintain Unrestricted The Trustees have conducted their own Reserves to a level to cope with financial review of the major risks, including health contingencies. Our target for Net Free Reserves and safety and safeguarding, to which the (i.e. Unrestricted General Reserves after the Charity is exposed; processes and systems removal of the net book value of Fixed Assets) have been established to mitigate those should reflect six months costs, to ensure GASP risks. is able to fulfil our obligation to our young people and their referring organisations, whilst The Charity’s governance arrangements putting in place alternative arrangements to surrounding risk and key applicable policies support them, if we are suddenly faced with a are reviewed regularly to ensure that they permanent reduction in our funding or other still meet the needs of the Charity. The financial challenge. In financial terms, for the Board has allocated for responsibility 2024/2025 budget year, this equates to health and safety and safeguarding to approximately £305,000. At £336,364 our Net Board members to ensure specific Free Reserves are just a little above this target. relevance and compliance checks are conducted on both workshop and mobile The Trustees have also designated £23,068 for operations. future expenditure and development of our offering to enhance further the learning Basis of Preparation. experience that can be provided. It is intended This report and the financial statements that these funds will be utilised in the have been prepared in accordance with 2024/2025 budget year. Further details can be the provisions applicable to companies found in Note 14 to the financial statements. subject to the small companies regime. The Trustees have not required the financial The Trustees will continue to review the level of statements to be audited. reserves to ensure the target figure continues to reflect the associated funds required to put in Approved by the Board of Trustees of the place alternative arrangements for our students Charity on 13th December 2024 and signed should this be needed. on its behalf by: Investment Policy The Trustees invest cash in an instant access deposit account at CAF Bank. Additionally, we Ian Watson **Reserves** have entered into a facility which allows us to Chair of Trustees deposit cash in a range of high interest bank **Financial Results** accounts and fixed term bonds attracting **Investment Policy** higher interest rates. Interest income for the **Risk Review** period was £11,773. **Statement of responsibilities of the Trustees / Directors Basis of Preparation** 8 7 ~~_~~ ## **Independent Examiner’s report to the Trustees of GASP Motor Project** I report to the Charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2024. ## **Responsibilities and basis of report** As the Charity’s Trustees of the Company (and also 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’). 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 your Charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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: - accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - the accounts do not accord with those records; or - the accounts do not comply with the relevant 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 - 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). 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. **9** 9 ## **Statement of Financial** ## **Activities** ## **For the Year ended 31st August 2024** 10 ## **Balance Sheet** ## **As at 31st August 2024** For the year ending 31 August 2024, the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: The Trustees have not required the Charity to obtain an audit of its financial statements for the period in question in accordance with section 476: - The Directors 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 and the Statement of Recommended Practice for registered charities. Approved by the Directors on 13th December 2024 and signed on their behalf by Ian Watson - Chair of Trustees 11 ## **Notes to Accompany the Financial Accounts For the year ending 31st August 2024** ## 1. Accounting Policies ## General These financial statements have been prepared under the historic cost convention and in accordance with the the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities SORP (FRS102) effective 1st January 2019, the Companies Act 2006, and the Charities Act 2011, as applicable for smaller entities. ## Income Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants are recognised in full in the Statement of Financial Activities in the period in which they are receivable, unless they are time related or contain unfulfilled conditions in which case unutilised grants are carried forward in the Balance Sheet. ## Going Concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. ## Charitable Funds Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specified purpose, or with a specified purpose but not repayable if not used in full and are therefore available as general funds. Restricted funds are to be used for specific purposes as laid down by the donor or grant provider or refunded if not so used. Expenditure which meets these criteria is charged to the respective fund, together with a fair allocation of management and support costs. Volunteer Time is not included in income, as per the Charities SORP. ## Fixed Assets Fixed assets are stated at cost and depreciation is provided at rates calculated to write off each asset over its expected useful life as follows: Leasehold improvements are depreciated over three years - Workshop equipment is depreciated over four years - Workshop Vehicles over five years Buildings over ten years - All other assets are written off in the year of purchase. ## Donated Assets Donated Assets are included in income at fair value and are capitalised if the value is greater than £500. Designated funds are funds set aside by the Trustees out of unrestricted funds for specific purposes. ## Governance Costs These include any Trustee expenses and any Independent Examiner's Fee. ## Operating Commitments The Charity operates from The Sandpit and pays rental for this usage. **12** ## **Notes to Accompany the Financial Accounts For the year ending 31st August 2024** ## 2. Donations, Legacies and other charitable donations Donations and Legacies income includes grants received for the general activities of the Charity, as opposed to specific courses. ## 3. Charitable Activities Charitable Activity income represents sums received from schools for specific courses and sums received from grants with performance conditions. ## 6. Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year and there were no expenses re-imbursed. There were no related party transactions except as shown in Note 16. ## 7. Employees The average monthly number of employees during the year was: ## 4. Other Income Other income represents miscellaneous sums received including bank interest of £11,773 (£2,779 in 2023) and income from the disposal of workshop materials no longer in use. ## 5. Costs Overhead, Support and Delivery Costs were incurred as follows: No employee received more than £60,000 in salary and benefits during the year. ## 8. Future commitments There is no contingent or committed expenditure (2023 Nil). Fundraising employment costs included in the above were £24,131 (£22,988 in 2023). **13** ## **Notes to Accompany the Financial Accounts For the year ending 31st August 2024** 9. Tangible Fixed Assets ## 10. Debtors ## 11. Creditors 14 **Notes to Accompany the Financial Accounts For the year ending 31st August 2024** ## 12. Operating Grants The charitable activities of the Charity include the following restricted income, some of which has been deferred. The Trustees consider that it is not appropriate to show individual amounts by donor because this may be disclosing publicly sensitive information. The Trustees consider that Operational grants for specific courses are performancerelated grants and should have income deferred in proportion to the number of courses undelivered at year end. These courses are similar in nature to those provided to schools which can be deferred as unrestricted income. ## 13. Movement in Restricted Funds The Trustees consider that it is not appropriate to show individual amounts by donor because this may be disclosing publicly sensitive information. ## 14. Designated Funds During the period the Trustees designated the following amounts: £10,000 for future workshop/mobile facility costs in the 2024/25 year (Operational Expansion) The remaining £12,653 previously designated for workshop repairs/sinking fund was held over to the 2024/25 year as was the £415 previously designated for Operational Expansion. 15 **Notes to Accompany the Financial Accounts For the year ending 31st August 2024** ## 15. Taxation The company is exempt from Corporation Tax on its charitable activities. ## 16. Related Party Transactions During the period the following related party transactions occurred. - Mr Nicholas Elliott (Headteacher) - North East Surrey Short Stay School paid £8,020 in fees for courses - North East Surrey Short Stay School leases premises to the Charity for a nominal sum (£1 per annum) - Mr John Chaplin (Trustee of grant giving trust) - The Chaplin Foundation gave £5,000 to the charity as a performance related grant. The donation was made via NPT Transatlantic. ## 17. Transfer between Funds During the year £42,000 of Restricted Funds was expended on Capital items, and so the corresponding funds are transferred to Unrestricted Funds. During the year £14,932 of Designated Funds were expended on Capital Expenditure (of which £9,585 was on Operational Expansion and £5,347 was spent on Workshop repairs) which needs to be transferred to General Funds. This is offset by £10,000 transferred to new Designated Funds from General Funds. **16**