REGISTERED COMPANY NUMBER: 07425286 (England and Wales) REGISTERED CHARITY NUMBER: 1137133 ort of the Trustees and Financial Statements for the Year Ended 30 November 2024 for CARAMEL ROCK LTD
CARAMEL ROCK LTD Contents of the Financial Statements for the Year Ended 30 November 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detailed Statement of Financial Activiti 12 to 13
CARAMEL ROCK LTD Re ort of the Trustees for the Year Ended 30 November 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). INCORPORATION The charitable company was incorporated on 1 November 2010. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by ils governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCEAND ADMINISTRATIVE DETAILS Registered Company number 07425286 (England and Wales) Registered Charity number 1137133 Reglstered offlce 17-18 Lower Dock Walk London United Kingdom E162GT Trustees B Mubiayi S R Watts (appointed 7.3.25) L Mahony R Bowles R Shum (appointed 15.8.24) S l Rahim (appointed 9.9.24) G Forrest (appointed 15.7.25) Company Secretary Approved by order of the board of trustees on 16-09-2025 and signed on its behalf by.. ubiayi Trustee Page 1
The Trustees, who are also the directors for the purposes of company law, present their annual report together with the financial statements of the Charity for the year 1 Dember 2022 to 30 November 2024. The Annual report serves the purposes of both.a Trustees, report and a directors, report under company law. The Trustees Gonfirm that the Annual report and financial statements of the charitable company comply with the current ststutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 31 January 2022) as amended by Update Bulletin 1 (effective January 2022). Since the Charity qualifies as small company under section 382 of the Com anies Act 2008, the Strategic report requirements of medium and large companies under th Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. The Trustees oversee the processes of interaction and decision-making among the actors involved in a collective form that leads to the good practice of execution of 11 the charities activities with the authority to make decisions. Caramel Rock charity began as part of Ascension Church running workshops in a local cafe, running shows in a local church starting in 2008. From then, the charity established its own status building track record for its first 2 years gaining charity status in 2010 and has grown not only working with churches, communÉty groups, schools, youth centres, universities and businesses. We have a strong belief in shaping our future leaders and therefore we offer, in every course, a personal development scheme, as well as helping young people, 't is also our mission to provide people (children and adults) with the knowledge and exp rtise of the fashion industry, to help them forrn a solid foundation for a brighter future. We are an educational charity that provides courses and training to young people and young adults Caramel Rock is a creative arts charity providing training and opport nities, in Newham for local people. Additionally, Caramel Rock guides young people to achieve both their short and long-term goals. This is accomplished through improving their skills and giving them work experience within the fashion industry. Objectlves and actlvlties a. Objectlves Caramel Rock's objectives include supporting young people and their famili+s, providing skills, experience and qualifications, and improving young people's confidence, motivation and ambition in order to help them develop positive opportunities in their lives. We specifically use fashion as a means to engage with young people because of the interest it holds for so many young people, as well as the fact that it provides signifiqant and relevant opportunities for employment in the London retail sector.
Another key objective for Caramel Rock is changing the relationship that young people have with fashion, encouraging awareness and understanding of 'fast fashion, and how fashion can be more sustainable. We believe that young people hold the key to change, as they are the next consumers, retailers, and business leaders. eneration of Alms: Skill Development.. Provide participants with opportunities to develop practical skills related to various aspects of fashion design, such as sketching, pattern-making, sewing, garment construction, styling, or textile manipulation. Creativity and Innovation.. Foster creativity and innovation by encouraging p icipants to explore new ideas, exp&riment with different materials, and develop their unique design aesthetic. Experience: As an arts training provider we aim to help young people in disadvantaged circumstances that may not have the right support or guidance and help theln to connect with industry professionals, gain experience and receive the qualification they need to achieve their future career. Support.. one to one support for young people and their communities to build self-awareness and confidence to progress on thFir future journey. We aim to advance the education for disadvantaged young people in the fashion and creative arts sector to a superior level. Strategles for achlevlng objectlves. To achieve these aims Caramel Rock have a strategy to embed Sustainability and awareness of the circular fashion economy. The Sustainability Project builds knowledge of the circular fashion economy to the next generation to work in the sector. We have a strong belief in shaping our future leaders and therefore we offe, in every course, a personal development scheme, as well as helping young people, it is also our mission to provide people (children and young adults) with the knowledge ahd expertise of the fashion industry, to help them form a solid foundation for a brighter future. Our goals are also reached through organising and implementing our own Fashion Show and other events. aramel Rock In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public b*efit, including the guidance 'Public benefit: running a charity (P82)'.
Fashion and Creative Arts As a fashion and arts charity, we use creative arts as a tool to instil confide those that are passionate about wrsuing a career in this sector or for those ce and skills to that show true
potential. Not only is fashion a profitable market but also the creative industry builds life skills by encouraging individuals to think creatively and solve problems efficiently.1 Our academy promotes creative (career?) pathways such as fashion, the arts and dance nd develops individuals and local people through opportunities of work experience within the sector. Caramel Rock delivers our objectives by providing one on one support with young people and their families, an accredited BTEC vocational diploma level 1 and 2 in f shion and clothing, portfolio and CV development and work experience placements. Educatlon HION VCAJ'ION ARITY CARAMEL ROCK R¢ii At Caramel Rock we believe that verybody has the right to education. Eve right to be empowered, inspired a d given an opportunity to uncover their h life. For us education is power, it's a tool that can improve and sharpen live importantly we use it to close the fashion technical skills gap in the Fashion passion for both educating people and advancing the local community ena the lives of individuals and encourage them to corne together with a shared voice to advance their community,, Our education programme includes BTE Diploma Levels 1 and in fashion and clothing, workshops and events. body has the hest potential in but most ector. Our es us to enrich ision and one Vocational
Job Training 'M:.carami'lrock.r()m SHION UCATIO ARITY As a fashion and arts academy, Our students are trying to increase future prospects in the fashion and arts sector. We are passionate about seeking ways to increase job training for young people. Fashion is considered a leading industry in terms of employing young people from the age of 18-30 which we are proud of and want to do our part by bringing opportunities to people. Many of our young pupils have successfully complated and have gained further experience and work in the fashion industry. We only aim to further this and provide our services for a wider population of young people without jobs or the right connections to land them into employment within the fashion sector. This is embedded into the delivery of all of our programmes and activities. Job training includes placements and internships with businesses and local fashion brands and businesses.
Strengthenlng Communitles We believe that the community is at the very heart of what we do. We encourage local people to work together to not only strengthen the community but increase individual engagement and involvement in the lives of others. Much of our work is geared towards inspiring the community to work together and take an interest in what is going on around them. We help to prompt conversation between the young and the elderly. By instigating dialogue between parents and children, teenagers, and elderly we hope to create a bond between local people in the community and increase richness to the community. Activities such as workshops, events, fashion shows, pop up shops cover the scope of our offer in strengthening communities. We promote and celebrate diversity and inclusion within the community, fostering respect, empathy, and understanding across different cultural, ethnic, and socio-economic groups. Our programmes empower by providing leadership development opportunities through our youth committee. enabling community members to take initiative, collaborate effectively, and drive positive change within their neighbourhoods or organisations.
Mentoring and Enrichment •• (r At Caramel Rock we are passionate about seeing this generation work towards their dreams. We are enthusiastic about mentoring and instilling confidence in those that intend to develop their lives, or even start up their own business. We have a keen interest in helping to nurture and prepare individuals into their desired dreams and although we specialise in the creative industries we have mentored people who have gone on to do wany other things. Our support is to ensure our beneficiaries gain a better understanding of hoW they can develop their skills and most importantly how they can contribute to society. We provide monthly mentoring sessions to support the development of each of those aged 30 and below in their career development and aspirations. The mentoring monthly sessions cover skills development and identify areas for improvement or skill development and c eate learning opportunities such as workshops, training sessions, or hands-on experienc s. The programme includes feedback and reflection and providès constructive feedback on mentee's performance, projects, or behaviours, and encourages self-reflection to promote continuous learning and growth.
Objectives and activities Main actlvltles undertaken to further the Charlty's purposes for the public beneflt. Caramel Rock works with industry experts in varied fields to progress its work. We are committed to developing the next generation of creative's by giving people the opportunity to access resources, courses, opportunities, and gain working experience in the creative arts. We work with young people and adults as well as vulnerable people and help them get back into employment or training by equipping them with the skills they need through the creative arts. We use fashion as a creative means to engage with people. Some students may just want to gain some experience or have a platform to showcase their work within the industry., this is something we also provide. We also work with young people with disabilities and aim to engage them in our activities so that they can discover their own passion. We believe that every person has a talent and a purpose, and we set out to show a wide range of people their ability and potential to succeed. We are a Christian organisation that stands on Christian values. Achlevements and performance Revlew of actlvltles Caramel Rock is a dynamic youth focused charity that uses the engaging mediums of fashion and creative arts to improve education, employment and social inclusion opportunities for disadvantaged young people living within the London Borough of Newham and neighbouring areas such as Tower Hamlets, the City and Docklands. Pathways through Education: Formed as a Charty (registration number 1137133) our creative projects look to provide pathways back into education, employment, or training for NEET (not in employment, education or training) young people between the ages of 16 and 24 who are disengaged from formal learning environments. We work with over 250 young people each year through a team of 5 staff and 18 volunteers. Our success and retention rates are as follows: 80 % achieve full qualification and complete programme engagement.70 % progress into employment or training in the 6-month post programme We follow up with all participants within the 6 months window to confirm they are still engaged within the workplace or further training post the support Caramel Rock has provided.
Engagement and Participation: The youth activities organised under Caramel Rock have successfully engaged young people from diverse backgrounds. Attendance rates have been consistently high, Review of activltles (continued) indicating strong interest and participation among the target demographic. The interactive nature of the workshops have been particularly effective in capturing the attpntion of youth participants. Impact on Youth Development.. Caramel Rock activities have had a positive impact on the development of young people Participants have reported increased confidence improved teamwork, communication, and problem-solving skills among participants. Inclusivity and Diversity:. Caramel Rock has actively reached out to underrepresented communities to promote inclusivity and diversity by providing scholarships or subsidies to ensure access for all youth, regardless of socioeconomic background. We role model equity and inclusion through within our staff and volunteers too. Youth Leadership and Empowemient.. Caramel Rock has successfully empowered young people by providing opportunities for leadership and decision-making. Yonug participants have been involved in the planning and organisation of events, as well as in mentoring roles during workshops. This has empowered them to take ownership of their learning and contribute to the success of the program. Community Engagement and Support.. The support from the community, including parents, educators. and local businesses, has been instrumental in the success of youth activities associated with Caramel Rock. Partnerships with schools, youth organisatiqns, and community ntreS have facilitated outreach and resource-sharing, enhancing the reach and impact of the program. Long-Term Impact and Sustainability: The youth activities associated with Caramel Rock have demonstrated potential for long-term impact and sustainability Flnancial review a. Reserves policy Caramel Rock is currently dependent on sub-contract from educational institutions such as colleges and schools as well as grants and trust funding (source of income)'to sustain its activities, as earned income alone would not allow Caramel Rock to continue operating. This means that if there were to be a gap in Caramel Rock (source of debtor) it is likely that Caramel Rock would have to close. To avoid closure if funding difficulties were to happen the Caramel Rock board has agreed to keep a certain level of financial reserves to ensure that main operations can, continue for a period of 3 months.
The main concerns of the board are to ensure.. that staff can continue working, primarily to secure new funding. that memberslservice users are supported to move on to other seNiGes. Currently funding has been secured until the end of each academic year, but if difficulties were to arise then, it has been calculated those reserves of £30,000 must be built to continue running for at least 3 months. The calculations include staff salaries, pensions. and payments to HMRC, rènt, basic office running costs and other expenses as well as an allowance for redundancy payments to eligible staff should the organisation be fOrd to close. If service delivery to vulnerable clients is a key factor, reserves may also ta costs of moving users on to alternative seniices or a period of wind-down s months. e into account rvices over 3 The reserves should be built up from the unrestricted (earned) income. The level of reserves should be calculated and monitored every 3 months by Caramel Rock (starf, or board member) This policy should be reviewed yearly and whenever there are sigpificant changes in staff hours or numbers. b. Deflclt Since relocating to our new premises in 2020 at the beginning of lock down I the Charity has invested significantly in capacity building initiatives aimed at strengthening our operational foundation and increasing our long-term impact. These investments were inltially supported by a social investment fund loan awarded in 2019 and later supplemented Y a Bounce Back Loan received in 2020. Both sources of funding have been instrumental in enabling us to expand our services and improve infrastructure, though they have also contkibuted to cumulative deficit in the Charity's unrestricted reserves. While the Trustees had originally projected that the deficit would be elimina 2023124 financial year through increased fundraising and contract income, dbythe xtefnal challenges and slower-than-anticipated income recovery have delayed this arget. The Charity remains in deficit and continues to seNice the repayment obligations on both the social investment loan and the Bounce Back Loan. The Trustees are actively reviewing the Charity's financial strategy and remèin committed to achieving financial sustainability. Measures currently being implemented in lude the diversification of income streams, increased emphasis on unrestricted fund ising, and cost efficiency across operations. The improved capacity and reputation the Charity has developed in recent years position it well to secure new funding and partnership opportunities. Despite the continued deficit, the Trustees are confident that with prudent fir4ancial management and ongoing support from stakeholders, the Charity is on a sustainable path toward recovery. The Board continues to monitor the financial position closdiy and is exploring further funding opportunities to support our mission and meet rep obligations.
Financial results The net income for the year amounted to £2,920 (2023.. £-77,376). No corporation tax is expected to arise on the results for the period. Structure, governance, and management Constitution. Caramel Rock is registered as a charitable Company limited by guarantee and was set up by a Memorandum of Association. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co- opted under the terms of the Articles of Association. Statement of Trustees. responsibilities The Trustees (who are also the 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 (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Cha incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102) make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) 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 business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that th financial statements comply with the Companies Act 2006. They are also responsib efor safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 161091202 their behalf by: B Mubiayi and signed on Independent examiner's report to the Trustees of Caramel Rock ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Chprity for the year ended 30 November 2024. Responsibilitles and basls of report As the Trustees of the Charity (and its directors for the purposes of compan responsible for the preparation of the accounts in accordance with the requi Companies Act 2006 (The 2006 Act,). law) you are ements of the Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I repo in respect of my examination of the Charity's accounts carried out under section 145 of t e Charities Act 2011 ('the 2011 Act,). In carrying put my examination I have followed the Di ections given by the Charity Commission under section 145 (5) (b) of the 2011 Act. Independent examlnerfs ststement I have completed my examination.. I confirm that no matters have come to connection with the examination qiving me cause to believe: y attention in accounting records were not kept in respect of the Charity as requir 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 se 2006 Act other d by section 386 ion 396 of the than any requirement that the accounts give a 'true and fair, view wh matter considered ch is not as part of an independent'examination.. or 4. theaccountshavenotbeenpreparedinaccordancewiththemethodsand tement rinciplesofthesta of Recommended Practice for accounting and reporting by charities charities preparing their aÈcounts in accordance with the Financial Standard applicable in the UK and Republlc of Ireland (FRS 102). I have no concerns and have corne across no other matters in connection Mlith the examination to which attention shbuld be drawn in this report in order to en understanding of the accounts to be reached. ble a proper applicable to eporting This report is made solely to the Charity's Trustees, as a body, in accordan4e with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been yndertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest exte law, I do not accept or assume responsibility to anyone other than the Chari t permitted by Charity's Trustees as a body, for my work or for this report. and the
Inde endent Examiner's Re CARAMEL ROCK LTD ort to the Trustees of Independent examiner's report to the trustees of CARAMEL ROCK LTD ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2024. Responsibiliti88 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 examlner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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: 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 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. Cumberland Accountants Lt The Association of Chartere ertified Accountants IL. 1.11 .£.5.................. Page 2
CARAMEL ROCK LTD Statement of Financial Activities for the Year Ended 30 November 2024 30.11.24 Total furtds 30.11.23 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 112,421 142,471 254,892 225,501 EXPENDITURE ON Raising funds 1,667 1,667 8,850 Charitable activities Com 163,559 163,159 9,470 174,$96 162,443 Other 9,370 15,012 Total 174,596 186,305 NET INCOMEI(EXPENDITURE) Transfers between funds (62,175) 142,471 142,471 {142.471) 80,196 39,196 Net movement In funds 80,296 80, 96 39,196 RECONCILIATION OF FUNDS Total funds brought forward (77,376) (77,176) (116,572) TOTAL FUNDS CARRIED FORWARD 2,920 2,920 <77,376) The notes form part of these financial st2t8ments Page 3
CARAMEL ROCK LTD Balance Sheet 30 November 2024 30.1 .24 30.11.23 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 82 CURRENT ASSETS Debtors Cash at bank and in hand 138,472 2,029 138, 72 29 65,263 5,094 140,501 140, 01 70,357 CREDITORS Amounts falling due within one year (49,007) (49, 07) (72,197) NET CURRENT ASSETSI{LIABILITIES 91,494 91, 94 (1,840) TOTAL ASSETS LESS CURRENT LIABILITIES 91,494 91, 94 (1,758) CREDITORS Amounts falling due after more than one year (88,574) (88, 74) {75,618) NET ASSETSI{LIABILITIES) 2,920 20 (77,376) FUNDS Unrestricted funds 20 (77,376) TOTAL FUNDS 20 (77,376) The charitable company is entitled to exemption from audit under Section 477 Act 2006 for the year ended 30 November 2024. f the Companies The members have not required the company to obtain an audit of its financial year ended 30 November 2024 in accordance with Section 476 of the Companie The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that co 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the stat charitable company as at the end of each financial year and of its surplus financial year in accordance with the requirements of Sections 394 an othewise comply with the requirements of the Companies Act 2006 r statements, so far as applicable to the charitable company. tatements for the Act 2006. ply with Sections of affairs of the r deficit for each 395 and which ating to financial The notes form part of these financial statement8 Page 4 continued...
CARAMEL ROCK LTD Balance Sheet - continued 30 November 2023 These financial statements have been prepared in accordance with the provisjons applicable to charitable companies subject to the small companies regime. The fi ancial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: Trustee B. Mubiayi The notes form part of these financial statemants Page 5
CARAMEL ROCK LTD Notes to the Financial Statements for the Year Ended 30 November 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public b FRS 102, have been prepared in accordance with the Charities S 'Accounting and Reporting by Charities.. Statement of Recommended Pra charities preparing their accounts in accordance with the Financial R applicable in the UK and Republic of Ireland (FRS 102) (effective 1 Janua Reporting Standard 102 'The Financial Reporting Standard applicabl Republic of Ireland, and the Companies Act 2006. The financial stste prepared under the historical cost convention. nefit entity under RP (FRS 102) tice applicable to porting Standard 2019),, Financial in the UK and ents have been INCOME All income is recognised in the Statement of Financial Activities onc entitlement to the funds, it is probable that the income will be received an be measured reliably. the charity has the amount can EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or con committing the charity to that expenditure, it is probable that a transfer of will be required in settlement and the amount of the obligation can be Expenditure is accounted for on an accruals basis and has been classifi that aggregate all cost related to the category. Where costs Cannot be di particular headings they have been allocated to activities on a basis consi of resources. tructive obligation conomic benefits easured reliably. under headings ectly attributed to tent with the use TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off estimated useful life. ch asset over its TAXATION The charity Is exempt from corporation tax on its charitable activities. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectiv of the trustees. at the discretion Restricted funds can only be used for particular restricted purposes within charity. Restrictions arise when specified by the donor or when fun particular restricted purposes. the objects of the s are raised for Further explanation of the natur& and purpose of each fund is included i financial statements. the notes to the Page 6 continued...
CARAMEL ROCK LTD Notes to the Financial Statements - continued for the Year Ended 30 November 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, rernuneration or other benefits for 30 November 2024 nor for the year ended 30 November 2023. year ended TRUSTEES, EXPENSES There were no trustees, expenses paid for the year ended 30 Novembe year ended 30 November 2023. 2024 nor for the COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Rest fund fu icted Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 69,150 156, 51 225,501 EXPENDITURE ON Raising funds 8,850 8,850 Charltable actlvltles Com 162,443 162,443 Other 15,012 15,012 Total 186,305 186,305 NET INCOMEI(EXPENDITURE) (117,155) 156, 51 39,196 RECONCILIATION OF FUNDS i Total funds brought forward 39,779 (156, 51) (116,572) TOTAL FUNDS CARRIED FORWARD (77,376) (77,376) Page 7 continued...
CARAMEL ROCK LTD Notes to the Financial Statements- continued for the Year Ended 30 November 2024 TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 December 2023 Disposals 82 (82) At 30 November 2024 NET BOOK VALUE At 30 November 2024 At 30 November 2023 82 DEBTORS: AMOUNTS FALLIN¢ DUE WITHIN ONE YEAR 30.11. 30.11.23 Trade debtors 138,4 65,263 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.11. 30.11.23 Bank loans and overdrafts (see iote 8) Other loans (see note 8) Trade creditors Social security and other taxes I Other creditors Pension Fund Contribution pa Accrued expenses 16,8 6,249 8,007 23,184 30,328 709 1,965 1,755 1) 30,0 49,0 72,197 Page 8 continued...
CARAMEL ROCK LTD Notes to the Financial Statements - co for the Year Ended 30 November 2024;, tinued CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE Y 30.11. 30.11.23 Bank loans (see note 8) other loans (see note 8) 50,0 38,5 50,000 25,618 88,5 75,618 LOANS An analysis of the maturity of loans is given below: 30.11. 30.11.23 Amounts falling due within one y Bank overdrafts Other loans ar on demand.. 16,8 6,249 8,007 16,8 14,256 Amounts falling between one an Other loans - 1-2 years two years: 38,5 25,618 Amounts falling due in more tha five years: Repayable by instalments.. Bank loans more 5 yr by instal 50,0 50,000 MOVEMENT IN FUNDS Net movement in funds Trans betw fun ars en At 1.12.23 At 30.11.24 Unrestrlcted funds General fund (77,376) (62,175) 142,4 2,920 Restrlcted funds RESTRICTED Fund 142,471 {142,4 1) TOTAL FUNDS (77,376) 80,296 2,920 Page 9 continued...
CARAMEL ROCK LTD Notes to the Financial Statements - co for the Year Ended 30 November 20241 tinued MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming Resou resources expen ces Movement in funds Unrestrlcted funds General fund 112,421 <174,5 6) (62,175) Restrlcted funds RESTRICTED Fund 142,471 142,471 TOTAL FUNDS 254,892 (174,5 6) 80,296 Comparatlves for movement In funds Ne move infu At 1.12.22 ent ds At 30,11.23 Unre8trlcted funds General fund 39,779 (117,1 5) (77,376) Restrlcted funds RESTRICTED Fund (156,351) 156,3 TOTAL FUNDS (116,572) 39,1 (77,376) Comparative net movement in fubds, included in the above are as follows.. Incoming Resou resources expen ces Movement ed in funds Unrestrlcted funds General fund 69,150 (186,3 5) {117,155) Restrlcted funds RESTRICTED Fund 156,351 156,351 TOTAL FUNDS 225,501 (186,3 5) 39,196 Page 10 continued...
CARAMEL ROCK LTD Notes to the Financial Statements - co for the Year Ended 30 November 2024 'tinued MOVEMENT IN FUNDS- contiryued A current year 12 months and pr r year 12 months combined position is a follows: Net movement in funds Trans betw fun ers At 1.12.22 en At 30.11.24 Unrestricted funds General fund 39,779 (179,330) 142,4 2,920 Restrlcted funds RESTRICTED Fund (156,351) 298,822 (142,4 TOTAL FUNDS (116,572) 119,492 2,920 A current year 12 months and Iprior year 12 months combined net m included in the above are as foll vement in funds, Incoming Resou resources expen ces Movement ed in funds Unrestrlcted fund8 General fund 181,571 (360,9 1) (179,330) Restricted funds RESTRICTED Fund 298,822 298,822 TOTAL FUNDS 480,393 (360,9 1) 119,492 10. RELATED PARTY DISCLOSUR There were no related party tran actions for the year ended 30 November 024. Page 11
CARAMEL ROCK LTD Detailed Statement of Financial Activiti for the Year Ended 30 November 2024 30.11. 30.11.23 INCOME AND ENDOWMENTS Donatlons and legacles Gifts Donations 142, 112, 71 21 225,501 254, 92 225,501 Totsl Incomlng resources 254, 92 225,501 EXPENDITURE Ralsing donatlons and legacles Postage and stationery Sundries 24 43 486 351 67 837 Other tradlng actlvltles Fixtures and fittings 4,549 Charltable actlvltles Wages Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Rent 106, 19 82 97 107,242 2,594 1,548 7,701 3,346 4,845 2,516 57 88 90 30 28, 21,520 154, 03 151,312 other Cleaning Educational Materials Meals and entertainment 34 47 89 2,394 12.014 604 70 15,012 Support costs Flnance Bank charges 4,599 This page does not for part of the statutory financial statement Page 12
CARAMEL ROCK LTD Detailed Statement of Financial Activiti for the Year Ended 30 November 2024 30.11. 30.11.23 FinanGe Information technology Repairs and renewals Travel Exp 79 50 622 1,518 29 2,140 Human resource8 SOare licences 2,485 Governance costs Accountancy fees Legal fees Due and Subscriptions 52 18 57 1,085 40 4,246 27 5,371 Total resources expended 174, 96 186,305 Net Income 80, 96 39,196 This page does not for part of the statutory financial statement Page 13