Company no. 06855624 Charity no. 1130096
# **GL11 Community Project Ltd Report and Independently Examined Financial Statements**
**31 March 2024**
## **GL11 Community Project Ltd**
## **Reference and administrative details**
|**Reference and administrative details**|**Reference and administrative details**||
|---|---|---|
|**For theyear ended 31 March 2024**|||
|**Company number**|06855624||
|**Charity number**|1130096||
|**Registered office and**|Fairmead||
|**operational address**|Cam||
||Dursley||
||Gloucestershire||
||GL11 5JS||
|**Trustees**|Trustees, who are also directors under company law, who served during||
||the year and up to the date|of this report are as follows:|
||D Cornell|Chair|
||D Baidoo|(appointed 26 April 2023,|
|||resigned 19 March 2024)|
||N Bennett||
||A Durn|(resigned 21 November 2023)|
||W Hamilton||
||S Hubbard||
||E Hynd|(resigned 21 November 2023)|
||S Lane||
||S Olpin|(appointed 25 October 2023)|
||J Pines|(appointed 25 October 2023)|
||J Richards||
||P Rummer|(resigned 21 November 2023)|
|**Chief executive officer**|I Redfern||
|**Secretary**|I Redfern||
|**Bankers**|Unity Trust Bank plc||
||Nine Brindley Place||
||Birmingham||
||B1 2HB||
|**Independent**|William Guy Blake ACA||
|**examiner**|Godfrey Wilson Limited||
||Chartered accountants and|statutory auditors|
||5th Floor Mariner House||
||62 Prince Street||
||Bristol||
||BS1 4QD||
1
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
The trustees are pleased to present their report and financial statements for the year ended 31 March 2024.
Reference and administrative information set out on page 1 forms part of this report. 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 (effective from January 2019).
## **Structure, governance and management Governing document**
The charity, which is a company limited by guarantee, is controlled by its governing document, its Memorandum and Articles of Association dated 23 March 2009.
## **Organisational structure**
GL11 is an incorporated charity limited by guarantee. The charity is run by a board of trustees who delegate the day-to-day operations of the charity to the Chief Executive Officer (CEO), who reports to the board as defined in the Constitution.
## **Recruitment and appointment of trustees**
Trustees are appointed from within the community, to meet the requirements of skills and diversity. Trustees attend 2 Board meetings as observers before appointment and may then be co-opted as trustees. All trustees are then appointed at the Annual General Meeting (AGM).
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **Public benefit**
In planning the charity's activities for the period, the trustees kept in mind the Charity Commission's guidance on public benefit. They are satisfied that the charity meets the definition of a charity as defined by the Charity Commission. The focus of the charity's activities during the period, is set out below.
## **Mission, objectives and activities**
The objective of GL11 Community Project (now known as GL11 Community Hub) is the promotion of urban and rural regeneration in areas of social and economic deprivation and in particular the GL11 postcode area which covers Cam and Dursley and outlying communities. In response to the changing needs of our community, in April 2023 we reviewed our Vision and Values which have been amended as follows:
Our values:
Listen. Look for Strengths. Act as if it is possible. Be kind and have fun. Be Brave.
## Our vision:
A connected, kind and can-do community in GL11 and surrounding areas. Achieved by:
- Creating a safe and supportive community space enabling friendship, bravery, learning and growth; and
- Working with communities and partners to achieve equal access to good quality of services for everyone in Gloucestershire.
2
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Activities**
The after effects of Covid and the ongoing impact of the cost of living crunch continue to reverberate through our community. Our new vision encompasses both our traditional community based activities and support services, as well as developing an incubator approach, to grow and test community solutions that can then influence and support changes to address inequalities within systems.
## Our activities:
1. Creating a safe and supportive community space enabling friendship, bravery, learning and growth by providing:
- Courses in recreational and vocational subjects;
- Wellbeing courses and support;
- Mental Health counselling, health coaching and support;
- Employment support and money advice;
- Volunteering opportunities;
- Family and parenting support and activities;
- Activities for children and young people;
- Activities, events and outings for adults of all ages and abilities;
- A community Café;
- A foodbank and food pantry;
- Room hire to partner organisations; and
- Support in the development of local hubs across the Stroud District.
2. Working with communities and partners to achieve equal access to good quality of services for everyone in Gloucestershire by:
- Embedding Community Action Groups across GL11 activities and services;
- Developing community solutions;
- Piloting projects to trial community solutions; and
- Actioning research and disseminating findings.
3
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Achievements and performance Cost of Living Support**
As the cost of living crunch has become entrenched, the initial emergency response of warm spaces has now evolved into a series of established services. GL11 now has a foodbank and/or food pantry open every week day, with demand for the food pantry doubling over the year. We have supported Berkeley to establish a fully functioning foodbank, and coordinate with local partners and Stroud Foodbank to ensure everyone has excellent access to food support across our area.
The chart below shows the increase in GL11 food pantry usage over the year.
Our weekly Cost of Living Support Day continues to evolve, with an expansion of our free money, housing and benefits advice service, meals for £1, free wifi, digital support, job club and health/wellbeing support with informal café and social activities providing a warm welcome.
The one-day each week money and debt advice has accessed an additional £330,000 of funding in benefits and debt write offs. This makes a huge difference to alleviating poverty locally and GL11 aims to expand the availability of money advice next year.
## **Stroud Hubs**
During the pandemic, Stroud District Council supported new community hubs to develop across the district. GL11 has actively supported the development of the hubs in the Berkeley Vale area, and continues to nurture Berkeley and Sharpness areas to seed community activities.
Following the award of £275,000 UK Shared Prosperity grant in 2022 which GL11 is administering, we started to distribute seed funding to ten hubs across Stroud District, and gather impact data. The first full report was published in May 2024 which will be used to raise further funds. A summary of the impact of the Stroud Hubs Together project, supported and compiled by GL11 is below.
This demonstrates how the network of Stroud Hubs support the most disadvantaged people in the area, and enables funding, support and activities to be channeled in at grassroots level to maximise impact, and access hardly reached communities.
4
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
5
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Mental wellbeing**
GL11 was delighted to have our contract both expanded and extended by Berkeley Vale Primary Care Network, enabling us to provide a further year of counselling and health coaching for patients referred from local GP practices, for up to 1,000 individuals in the area each year. The service is now available on evenings and weekends and includes a range of specific support groups.
The results for April 2023– March 2024 below demonstrate the impact of this vital service.
The metrics shown below are both used by the NHS. The PHQ-9 measures levels of depression and the GAD-7 measures levels of anxiety.
6
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Always listening**
Staff at GL11 spend a good deal of their time listening to people. Every year we dedicate a full month to making sure that we really hear what local people want to tell us. We undertook Listening Month again in 2023, and were delighted to receive more responses than ever to our survey. The results below highlight our impact.
GL11 has five key objectives which drive all that we do; these have been used as the basis for our measurement.
It is reassuring to see the such positive impact despite the significantly higher community stress levels due to the cost of living crunch.
## **“This place is brilliant! Kind, friendly group and staff- No judgement, relaxed and calm environment with lots of activities”**
7
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Living with Chronic Pain Project**
GL11 was delighted to partner with NHS Gloucestershire Integrated Care Board to explore the lived experience of pain, and ideas about what support might be most helpful, amongst members of the community using the services of GL11. The resulting report has been widely distributed and nominated for several awards. The Living with Chronic Pain Action Group is now working with NHS to co-develop community-led solutions that we plan to pilot in 2024. The graphic below illustrates the work.
8
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Future Plans**
## **Community Blood Pressure Project**
This NHS funded project is enabling GL11 to take blood pressure testing into the community, to reach people who don’t get their blood pressure tested regularly. The outreach team is focusing on people aged 30-60, especially men, by attending a wide range of different community events and venues, removing barriers to testing and supporting people to follow up with aftercare and lifestyle changes.
The project aims to evidence the impact of this approach, which is currently projected to result in £12 savings for every £1 spent and saving many lives.
## **Living with Chronic Pain Holistic Assessment pilot project**
The Community Action Group identified the need for a holistic assessment approach to enable the full range of factors contributing to this complex condition. This project has now attracted funding and will be piloted with local Primary Care Network partners during 2024-5.
## **Children and Family Neurodiversity Support and Money Advice Project**
Many children wait for 1-3 years for ADHD/Autism diagnosis, which has doubled since Covid. Their parents tend to withdraw from other families and activities as they can’t manage their challenging behaviour and feel judged/excluded, which further isolates families. This is exacerbated by poverty which underlies 47% of poor health outcomes.
This project, funded by Henry Smith Charity, starts in July 2024 and will provide one-to-one and group support with embedded financial support and advice for parents, families and children, aiming to build parenting skills, peer support networks, reduce poverty and increase financial management skills.
## **Governance**
During the year the trustees have ensured that GL11 meets a high standard of governance, meeting all the required standards of the Charity Commission, Companies House and the wide range of funders.
The perspective and expertise of trustees has been especially important during the Covid pandemic when uncertainty, risk assessment and management have been critical.
The trustees continue to provide strong and cohesive support and oversight during this period of crisis as GL11 is having to respond to change rapidly, consult the community and re-organise to meet future needs. Trustees are committed to succession planning as new trustees replace those standing down, maintaining diversity of the board in terms of experience and background, as well as reflecting the community that GL11 serves.
## **Financial review**
During the year to 31 March 2024, income increased by 15% to £868,110 (2023: £753,924), driven predominantly by an increase in grants and donations. Donations represent the principal funding source of the charity, with 94% (2023: 93%) of all income arising from donations, including grants. In the current year there were two (2023: none) grants received in excess of £100,000, from Berkeley Vale Primary Care Network, and the Big Lottery Fund. The amount raised through smaller donations of less than £5,000 reduced to £80,025 (2023: £95,968). Expenditure increased by 34% to £867,654 (2023: £646,061), which included a 6% cost of living pay increase for all staff, as well as increased delivery, reflecting the increasing demand for support within the community. This resulted in a net income of £456 for the year (2023: £107,863), and total charity funds at the year end of £538,074 (2023: £537,618).
9
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
## **Reserves policy**
At 31 March 2024, of the total charity funds of £538,074 (2023: £537,618), there were restricted funds of £283,079 (2023: £339,908), and designated funds of £58,537 (2023: £174,000). In 2024 the board decided to update its designated funds such that its operating reserve and building maintenance fund is now contained within the general funds of the charity. The designated funds now comprise the fixed asset fund, equalling the balance of unrestricted fixed assets on the balance sheet, which will be spent in line with the depreciation on these fixed assets.
The board have carried out risk assessments and developed the reserves policy, allocating sufficient funds required to cover anticipated future costs. The board determined that the general reserves of the charity should be between 3 and 6 months’ operating expenditure to ensure the continuation of service delivery and staffing in an uncertain funding environment and be able to fund building maintenance as it arises.
At 31 March the general reserves of the charity were £196,458, which represents approximately 4 months’ of operating expenditure. Therefore, the current level of reserves is in line with the reserves policy. As the organisational turnover increases the board continually review the level of reserves required and implement practical measures to ensure that these are maintained in line with policy.
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of the charity 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- ▪ state whether applicable accounting standards and statements of recommended practice 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 charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the group and charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.
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.
10
## **GL11 Community Project Ltd**
## **Report of the trustees**
## **For the year ended 31 March 2024**
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
## **Independent examiners**
Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 17 July 2024 and signed on their behalf by
Doina Cornell
Doina Cornell - Chair
11
## **Independent examiner's report**
## **To the members of**
## **GL11 Community Project Ltd**
I report to the trustees on my examination of the accounts of GL11 Community Project Ltd (the charitable company) for the year ended 31 March 2024, which are set out on pages 13 to 31.
## **Responsibilities and basis of report**
As the trustees of the charitable 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 charitable 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 charitable company'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**
Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material 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 charitable company as required by section 386 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).
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.
## William Guy Blake
Date: 17July 2024 **William Guy Blake ACA Member of the ICAEW** For and on behalf of: **Godfrey Wilson Limited** Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
12
## **GL11 Community Project Ltd**
**Statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 March 2024**
|Note
**Income from:**
Donations
3
Charitable activities
4
Bank interest
Other income
**Total income**
**Expenditure on:**
Raising funds
_Charitable activities:_
Community
Outreach
**Total expenditure**
6
**Net income / (expenditure)**
Transfers between funds
**Net movement in funds**
8
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Restricted Unrestricted
£
£
744,797
69,181
-
41,104
-
9,611
-
3,417
744,797
123,313
533
35,981
685,913
24,153
106,680
14,394
793,126
74,528
(48,329)
48,785
(8,500)
8,500
(56,829)
57,285
339,908
197,710
283,079
254,995|**2024**
**Total**
**£**
**813,978**
**41,104**
**9,611**
**3,417**
**868,110**
**36,514**
**710,066**
**121,074**
**867,654**
**456**
**-**
**456**
**537,618**
**538,074**|2023
Total
£
702,060
26,792
3,908
21,164|
|---|---|---|---|
||||753,924|
||||29,293
560,377
56,391|
||||646,061|
||||107,863
-|
||||107,863
429,755|
||||537,618|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.
13
## **GL11 Community Project Ltd**
## **Balance sheet**
## **As at 31 March 2024**
|Note
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
13
**Net current assets**
**Net assets**
15
**Funds**
16
_Restricted funds:_
Capital
Revenue
_Unrestricted funds:_
**Total charity funds**
Designated funds
General|**£**
**22,267**
**406,970**
**429,237**
**32,216**|**2024**
**£**
**141,053**
**397,021**
**538,074**
**82,516**
**200,563**
**58,537**
**196,458**
**538,074**|2023
£
129,545
85,364
343,208|
|---|---|---|---|
||||428,572
20,499|
||||408,073|
||||537,618|
||||96,269
243,639
174,000
23,710|
||||537,618|
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
- (i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and
- (ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on 17 July 2024 and signed on their behalf by
## Doina Cornell
Doina Cornell - Chair
14
## **GL11 Community Project Ltd**
## **Statement of cash flows**
## **For the year ended 31 March 2024**
|**For the year ended 31 March 2024**|||
|---|---|---|
|**Cash used in operating activities:**
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase) / decrease in debtors
Increase / (decrease) in creditors
**Net cash used in operating activities**
**Cash flows from investing activities:**
Purchase of tangible fixed assets
Dividends, interest and rents from investments
**Net cash provided by investing activities**
**Increase in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2024**
**£**
**456**
**23,327**
**(9,611)**
**63,097**
**11,717**
**88,986**
**(34,835)**
**9,611**
**(25,224)**
**63,762**
**343,208**
**406,970**|2023
£
107,863
18,744
(3,908)
(64,943)
(16,881)|
|||40,875|
|||(55,165)
3,908|
|||(51,257)|
|||(10,382)
353,590|
|||343,208|
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
15
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
**1. Accounting policies**
## **a) Basis of preparation**
- The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
GL11 Community Project Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **b) Going concern basis of accounting**
The accounts have been prepared on the assumption that the charitable company is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charitable company's ability to continue as a going concern.
## **c) Income**
Income is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Earned income received in advance of provision of goods or services is deferred until the criteria for income recognition are met.
## **d) Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company: this is normally upon notification of the interest paid or payable by the bank.
16
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **f) Funds accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charitable company. Designated funds are unrestricted funds of the charitable company which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charitable company's work or for specific projects being undertaken by the charitable company.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Grants payable**
Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate).
## **i) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the basis of proportional staff costs:
||**2024**|2023|
|---|---|---|
|Raising funds|**3.9%**|3.6%|
|Charitable activities - community|**86.6%**|87.0%|
|Charitable activities - outreach|**9.5%**|9.4%|
## **j) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Leasehold improvements Straight line over the life of the lease Equipment 15 years straight line Computer equipment 3 years straight line
Items of equipment are capitalised where the purchase price exceeds £1,000.
## **k) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
17
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **l) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m) 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 amount after allowing for any trade discounts due.
## **n) Financial instruments**
The charitable company 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.
## **o) Pension costs**
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
## **p) Accounting estimates and key judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
## **Depreciation**
As described in note 1(j) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates in operation during the current and prior period are detailed in note 1(j).
18
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
|**2.**
**Prior period comparatives: statement of financial**
**Income from:**
Donations
Charitable activities
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
Community
Outreach
**Total expenditure**
**Net income and net movement in funds**|**activities**
Restricted
£
697,975
-
-
-
697,975
4,412
544,144
56,077
604,633
93,342|2023
Total
£
£
4,085
702,060
26,792
26,792
3,908
3,908
21,164
21,164
55,949
753,924
24,881
29,293
16,233
560,377
314
56,391
41,428
646,061
14,521
107,863
Unrestricted|
|---|---|---|
19
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
**3. Income from donations**
|**Income from donations**||||
|---|---|---|---|
|**Grants of more than £5,000:**
Berkeley Vale Primary Care Network
Barnwood Trust
Big Lottery Fund
County of Gloucestershire Community
ESHO
Gloucestershire Community Foundation
Gloucestershire County Council
Gloucestershire Gateway Trust
Julia and Hans
National Grid Community Matters Fund
NHS Gloucestershire CCG
Peter Lang Children's Trust
Stroud District Council
The National Lottery
UK Shared Prosperity Fund (UKSPF)
**Donations of more than £5,000:**
Paul Patrick
The Pierrepont Trust
The John Horseman Trust
Grants and donations of £5,000 or less
**Total donations**|Restricted
£
106,544
54,350
109,942
5,153
18,677
6,500
45,678
26,000
7,000
8,990
63,584
36,061
69,233
78,905
66,893
10,443
-
-
30,844
744,797|£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,000
10,000
49,181
69,181
Unrestricted|**2024**
**Total**
**£**
**106,544**
**54,350**
**109,942**
**5,153**
**18,677**
**6,500**
**45,678**
**26,000**
**7,000**
**8,990**
**63,584**
**36,061**
**69,233**
**78,905**
**66,893**
**10,443**
**10,000**
**10,000**
**80,025**|
||||**813,978**|
20
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
|**3.**
**Income from donations (continued)**
**Prior period comparative**
**Grants of more than £5,000:**
Active Gloucestershire
Berkeley Vale Primary Care Network
Barnwood Trust
Big Lottery Fund
Creative Sustainability CIC
Enovert Community
ESHO
GEM project
Gloucestershire County Council
Gloucestershire Gateway Trust
Magnox Ltd
National Benevolent Charity
Peter Lang Children's Trust
Severn Wye Energy
Stroud District Council
The John Horseman Trust
The Julia and Hans Rausing Trust
The National Lottery
UKSPF
VCSE Alliance
Western Power Distribution Foundation
Grants and donations of £5,000 and less
**Total donations**
**4.**
**Income from charitable activities**
Participant income
Room hire|Restricted
£
8,286
66,190
70,000
99,945
10,200
30,000
9,200
23,050
57,395
10,000
9,999
5,000
35,005
5,294
34,333
5,000
13,719
9,905
33,581
60,000
9,990
91,883
697,975|£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,085
4,085
**2024**
**£**
**39,518**
**1,586**
**41,104**
Unrestricted|2023
Total
£
8,286
66,190
70,000
99,945
10,200
30,000
9,200
23,050
57,395
10,000
9,999
5,000
35,005
5,294
34,333
5,000
13,719
9,905
33,581
60,000
9,990
-
95,968|
|---|---|---|---|
||||702,060|
||||2023
£
23,464
3,328|
||||26,792|
All income from charitable activities was unrestricted in current and prior period.
21
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
|**For the year ended 31 March 2024**|||
|---|---|---|
|**5.**
**Government grants**
The charity received the following government grants:
Big Lottery Fund
Gloucestershire County Council
The National Lottery
Stroud District Council|**2024**
**£**
**109,942**
**45,678**
**78,905**
**136,126**
**370,651**|Restated
2023
£
99,945
57,395
9,905
67,914|
|||235,159|
There are no unfulfilled conditions in respect of the government grants disclosed above (2023: none). The charity did not benefit from any other forms of government assistance during the year (2023: none).
22
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **6. Total expenditure**
|**Total expenditure**||||||
|---|---|---|---|---|---|
|Staff costs (note 9)
Grants payable (note 7)
Insurance
Light and heat
IT costs
Telephone
Postage and stationery
Advertising
Sundries
Sessional workers
Project resources
Training and consultancy
Repairs and renewals
Cleaning
Accountancy
Subscriptions
Fundraising
Depreciation
**Sub-total**
**Total expenditure**
Allocation of support and
governance costs|Raising
funds
£
18,298
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11,811
-
30,109
6,405
**36,514**|Charitable
activities -
community
£
409,036
-
4,146
9,580
11,973
4,867
4,702
6,303
3,816
5,587
88,700
9,997
3,503
1,890
-
2,797
-
-
566,897
143,169
**710,066**|£
44,854
48,163
250
300
1,668
762
352
1,000
88
-
7,810
-
100
27
-
-
-
-
105,374
15,700
**121,074**
Charitable
activities -
outreach|£
103,209
-
1,500
4,861
3,626
1,654
834
279
4,746
6,300
5,272
1,446
3,644
282
3,952
342
-
23,327
165,274
(165,274)
**-**
Support and
governance
costs|**2024 Total**
**£**
**575,397**
**48,163**
**5,896**
**14,741**
**17,267**
**7,283**
**5,888**
**7,582**
**8,650**
**11,887**
**101,782**
**11,443**
**7,247**
**2,199**
**3,952**
**3,139**
**11,811**
**23,327**|
||||||**867,654**
**-**|
||||||**867,654**|
Total governance costs were £3,660 (2023: £3,060).
23
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **6. Total expenditure (continued) Prior period comparative**
|Raising
funds
£
Staff costs (note 9)
12,793
Insurance
-
Light and heat
-
IT costs
-
Telephone
-
Postage and stationery
-
Advertising
-
Sundries
-
Sessional workers
-
Project resources
-
Training and consultancy
-
Repairs and renewals
-
Cleaning
-
Accountancy
-
Subscriptions
-
Fundraising
11,175
Depreciation
-
**Sub-total**
23,968
5,325
**Total expenditure**
29,293
Allocation of support
and governance costs|Charitable
activities -
community
£
305,691
3,301
9,091
7,423
4,212
5,012
4,254
-
37,690
46,344
8,263
-
560
-
1,284
-
-
433,125
127,252
560,377|£
32,958
289
1,633
1,095
-
-
-
-
-
6,646
-
-
50
-
-
-
-
42,671
13,720
56,391
Charitable
activities -
outreach|£
89,534
1,123
1,274
1,860
1,258
1,151
890
8,105
-
4,400
3,577
9,003
677
3,566
1,135
-
18,744
146,297
(146,297)
-
Support and
governance
costs|2023 Total
£
440,976
4,713
11,998
10,378
5,470
6,163
5,144
8,105
37,690
57,390
11,840
9,003
1,287
3,566
2,419
11,175
18,744|
|---|---|---|---|---|
|||||646,061
-|
|||||646,061|
Charitable activities have been regrouped for presentational purposes in the current financial year. There has been no change to the allocation of support and governance costs.
Charitable activites - community includes previous groups: wellbeing, families & younger people, employment, café & pantry, and mental health. Charitable activities - outreach includes previous groups: outreach, and UKSPF response.
24
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
**7. Grants payable**
During the year the charity made grants to the following 8 institutions (2023: none). There were no outstanding commitments at the reporting date.
|Paganhill Community Group
Forest Green Rovers Community
Top of Town Community Hub
Cashes Green Community Centre
All Pulling Together
The Keepers
Trinity - Stroud Earth Community
Middle of the Hill Community Group|**2024**
**£**
**6,020**
**6,020**
**6,020**
**6,020**
**6,020**
**6,021**
**6,021**
**6,021**
**48,163**|2023
£
-
-
-
-
-
-
-
-|
|---|---|---|
|||-|
**8. Net movement in funds** This is stated after charging:
|Depreciation
Operating lease payments
Trustees' expenses
Trustees' remuneration
Independent examiner's remuneration (excluding VAT)|**2024**
**£**
**23,327**
**-**
**72**
**Nil**
**3,050**|2023
£
18,744
895
80
Nil
2,550|
|---|---|---|
Trustees' expenses representing travel and training costs amounting to £72 were paid in the year (2023: £80).
## **9. Staff costs and numbers** Staff costs were as follows:
|Salaries and wages
Social security costs
Pension costs|**2024**
**£**
**523,573**
**32,929**
**18,895**
**575,397**|2023
£
402,806
24,347
13,823|
|---|---|---|
|||440,976|
No employee earned more than £60,000 during the year.
The key management personnel of the charity comprise the trustees, the Chief Executive, the Business Support Director, and the Community Wellbeing Director (2023: the key management personnel of the charity comprised of the trustees, and the Chief Executive). The total employee benefits of the key management personnel of the charity were £124,141 (2023: £53,286).
25
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **9. Staff costs and numbers (continued)**
|Average head count|**2024**
**No.**
**32.0**|2023
No.
25.1|
|---|---|---|
## **10. Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **11. Tangible fixed assets**
|£
**Cost**
At 1 April 2023
192,929
Additions
34,835
At 31 March 2024
227,764
**Depreciation**
At 1 April 2023
67,657
Charge for the year
22,873
At 31 March 2024
90,530
**Net book value**
**At 31 March 2024**
**137,234**
At 31 March 2023
125,272
**Debtors**
Trade debtors
Prepayments
Accrued income
Other debtors
**Leasehold**
**improvements**|**Equipment**
£
6,810
-
6,810
2,537
454
2,991
**3,819**
4,273|£
1,180
-
1,180
1,180
-
1,180
**-**
-
**2024**
**£**
**20,844**
**1,423**
**-**
**-**
**22,267**
**Computer**
**equipment**|**Total**
**£**
**200,919**
**34,835**|
|---|---|---|---|
||||**235,754**|
||||**71,374**
**23,327**|
||||**94,701**|
||||**141,053**|
||||129,545|
||||2023
£
44,633
6,373
33,581
777|
||||85,364|
## **12. Debtors**
26
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **13. Creditors : amounts due within 1 year**
|**13. Creditors : amounts due within 1 year**|||
|---|---|---|
|Trade creditors
Accruals
Other taxation and social security
Other creditors
Deferred income (note 14)
**14. Deferred income**
At 1 April 2023
Deferred during the year
Released during the year
At 31 March 2024|**2024**
**£**
**10,648**
**9,777**
**8,441**
**3,350**
**-**
**32,216**
**2024**
**£**
**2,500**
**-**
**(2,500)**
**-**|2023
£
7,028
3,060
5,888
2,023
2,500|
|||20,499|
|||2023
£
1,750
2,500
(1,750)|
|||2,500|
Deferred income relates to income received in advance of delivery of consultancy work.
## **15. Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 March 2024**
**Prior period comparative**
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2023|Restricted
funds
£
82,516
215,930
(15,367)
**283,079**
Restricted
funds
£
96,269
243,639
-
339,908|Designated
funds
£
58,537
-
-
**58,537**
Designated
funds
£
33,276
161,223
(20,499)
174,000|General
funds
£
-
213,307
(16,849)
**196,458**
General
funds
£
-
23,710
-
23,710|**Total**
**funds**
**£**
**141,053**
**429,237**
**(32,216)**|
|---|---|---|---|---|
|||||**538,074**|
|||||Total
funds
£
129,545
428,572
(20,499)|
|||||537,618|
27
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **16. Movements in funds**
|**Movements in funds**||||||
|---|---|---|---|---|---|
|**Restricted capital funds:**
**Restricted revenue funds:**
Family and youth projects
Wellbeing
Mental health & wellbeing
Programme & volunteering
Employment support
Café and pantry
Outreach
Other restricted funds
**Total restricted funds**
**Unrestricted funds**
_Designated funds:_
Future running costs
Future building maintenance
Fixed asset fund
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
Gloucestershire Environmental
Trust (Leasehold
Improvements)
Other funds for leasehold
improvements|At 1 April
2023
£
32,919
63,350
9,426
14,320
-
-
4,600
70,597
17,447
127,249
339,908
164,000
10,000
-
174,000
23,710
197,710
537,618|Income
£
-
-
59,529
-
175,321
243,037
18,677
23,549
110,697
113,987
744,797
-
-
-
-
123,313
123,313
868,110|£
(4,703)
(9,050)
(51,613)
-
(108,396)
(217,780)
(23,277)
(92,146)
(105,374)
(180,787)
(793,126)
-
-
-
-
(74,528)
(74,528)
(867,654)
Expenditure|£
**£**
-
**28,216**
-
**54,300**
-
**17,342**
(14,320)
**-**
-
**66,925**
(348)
**24,909**
-
**-**
-
**2,000**
3,500
**26,270**
2,668
**63,117**
(8,500)
**283,079**
(164,000)
**-**
(10,000)
**-**
58,537
**58,537**
(115,463)
**58,537**
123,963
**196,458**
8,500
**254,995**
-
**538,074**
**At 31**
**March 2024**
Transfers
between
funds||
||||||**283,079**|
||||||**-**
**-**
**58,537**|
||||||**58,537**|
||||||**196,458**|
||||||**254,995**|
||||||**538,074**|
General funds includes the three months' operational reserves and future building maintenance fund as set out in the Reserves Policy.
28
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
|**For**|**the year ended 31 March 2024**|**the year ended 31 March 2024**||||||
|---|---|---|---|---|---|---|---|
|**16. **|**Movements in funds (continued)**|||||||
||**Prior period comparatives**|At 1 April||Transfers
between||
|**At 31**|
|||2022|Income|Expenditure|funds|**March 2023**||
|||£|£|£|£||**£**|
||**Restricted capital funds:**|||||||
||Gloucestershire Environmental|||||||
||Trust (Leasehold|||||||
||Improvements)|37,622|-|(4,703)|-||**32,919**|
||Other funds for leasehold|||||||
||improvements|37,106|35,294|(9,050)|-||**63,350**|
||**Restricted revenue funds:**|||||||
||Family and youth projects|11,386|48,528|(50,488)|-||**9,426**|
||Wellbeing|28,498|160,247|(198,975)|24,550||**14,320**|
||Employment support|31,000|32,250|(58,650)|-||**4,600**|
||Covid 19 response|44,950|-|-|(44,950)||**-**|
||Café and pantry|6,000|108,608|(45,811)|1,800||**70,597**|
||Outreach|-|29,895|(12,448)|-||**17,447**|
||Mental health|-|66,190|(84,790)|18,600||**-**|
||UKSPF|-|33,581|(33,581)|-||**-**|
||Other project costs|50,000|183,382|(106,133)|-||**127,249**|
||**Total restricted funds**|246,562|697,975|(604,629)|-||**339,908**|
||**Unrestricted funds**|||||||
||_Designated funds:_|||||||
||Future running costs|144,000|-|-|20,000||**164,000**|
||Future building maintenance|10,000|-|-|-||**10,000**|
||Covid 19 response|26,584|-|(26,584)|-||**-**|
||_Total designated funds_|180,584|-|(26,584)|20,000||**174,000**|
||General funds|2,609|55,949|(14,848)|(20,000)||**23,710**|
||**Total unrestricted funds**|183,193|55,949|(41,432)|-||**197,710**|
||**Total funds**|429,755|753,924|(646,061)|-||**537,618**|
||**Purposes of restricted funds**|||||||
||Restricted capital funds|Used
to|improve
disability
access||and|for|building|
|||improvements.||||||
Family and youth projects
Supporting staff and project costs for children's Adventure Play activities and activity costs for preschool children and families Parenting thru Play programme.
29
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
**For the year ended 31 March 2024**
## **16. Movements in funds (continued) Purposes of restricted funds (continued)**
Wellbeing Comprises staff and project costs for a range of courses and activities. The balance has been transferred to group funds within the broader category of mental health and wellbeing. Mental health & wellbeing Staff, management and project costs for health coaching, counselling and mental wellbeing activities. Programme & volunteering Staff, management and project costs for volunteering and programme activities.
Employment support For key workers and overheads to support job seekers. Café and pantry Staff, overheads and Café costs allocated for community café and food pantry. Outreach Staff costs to support community hubs across the Stroud Other restricted funds Various other restricted funds not falling within the above categories, including pilot projects, restricted funds for core salaries etc.
**Purposes of designated funds** Future running costs Operational reserves per the Reserves Policy. Transferred to General Funds in the current year.
Future building maintenance Building maintenance reserves per the Reserves Policy. Transferred to General Funds in the current year. Fixed asset fund This fund recognises the charity's funds held as fixed assets.
## **Purposes of transfers between funds**
Transfers between restricted funds represent where projects have been grouped within funds differently to last year. There is no change to the restriction of the fund. The £8,500 transferred from restricted to unrestricted funds represents capital expenditure where once the expenditure has been incurred, the restriction has been released.
30
## **GL11 Community Project Ltd**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **17. Operating lease commitments**
The charitable company had operating leases at the year end with total future minimum lease payments as follows:
|Amount falling due:
Within 1 year|**2024**
**£**
**-**|2023
£
569|
|---|---|---|
## **18. Related party transactions**
There were no related party transactions in the current or prior period.
31