Charity registration number 11375911England and Wales) Company reglstration number 06934839 CHASE NC LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ,lllllllThll *ADTjSy 0410112025 COMPANIES HOUSE A7 20
CHASE NC LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Everitt Ms S Jones Mr R Bird Rev A Giles Ms M Lindsay Ms F Abiodun Sowunmi Cliarlty number 1137591 Company number 06934839 Prlnclpal address Chase Neighbourhood Centre Robin Hood Chase St Ann's Nottingham NG3 4EZ Reglstsred offlc• Chase Neighbourhood Centre Robin HoL)d Chase st Ann's Nottingham NG3 4EZ Independent examiner HSKS Gfeenhalgh Ltd 3rd Floor Butt Dyke House 33 Park Row Nottingham NG16EE Bankers Unlty Trust Bank PLC 4 Brindley PlaGe Blrmingham 812JB
CHASE NC LIMITED CONTENTS Page Trustees report Statement ol trustees Tesponslbilrties Independent exarninefs Teport statement of financial adivrties Balance sheet Notes to the financial statements 8-16
CHASE NC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordan wrth the accounting policies set out in note 1 to the financial statements and comply with the charty's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charrties.. Statement of Recornmended Pradice applicable to charrties preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102)" (effective 1 January 2019). ObJeclbvM and actlvlllos The purw)se of the charity is.. To further the social and cultural welfare of the communlty of St Ann's, Nottingham. The vislon that shapes our annual activities remains the promotion and fostering of communty cohesion as well a8 introducing others to the exciting multi-cuftural environment that is St Ann's. We hope to engage the Nottingham Cty area and display the positive attributes that st Ann's has developed. The charty has the general aim of contributing to the quality of life of the people in the St Ann's area by expanding their horizons through the provision ol excrting.- challenging and accessible community events and professional programmes. In shaplng OUT objectives foT the year and plannlng our actlvities, the Irustees have consldeTed the Charrty Commission's guidance on public benefrt, including the guidance 'public benefft.. running a charty (P82)'. The ntre relies on grants and the income from rents, room hire and seNice charges to cover Its operating costs. Affordabilty and aGcessibilty is key to our aims and is reflected in our prlcing policy. We endeavour to encourage all within our communty to take part in our activities and to atterrfl our Centre. The strategies employed to achieve the charlty's aims and objectlves are to.. Give the community a welcomlng atmosphere encompasslng a wlde fange of actlvftles for the enjoyment and educats'on of our local community. Offer opportunities for a broad range of people to get invotved In activities exploring thelr communty. personal wellbeing and lifestyle. Provide facilities for the support agencies and companies operating across the city to hold events. rneeting8, aGlivities and trainlng. Involving the whole community, young and old, in activltie5 to encourage the integration and preskntion of cultures V1h1n our communty. Celebrate the diversity of cultures within our society by involvlng the community, support agencies, local council and businesses in the planning. fvnding and orchestration of events. To develop our learning and training hub to support membets of the communty artd client8 of the adviee centre, toward5 financial indusion through leaming, education and positive job searching. Provide heahY nutritional meals in our communty cafe.
CHASE NC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORD (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performanc• Significant artivit18s and achievements against objectiv8s The centre has ineAeased rts footfall this past year. The café has continued lo attrad residents and workers in the area by providing healthy and affordable dishes at a reasonable cosL We have employed Iwo staff to ensure the café can be open all through the day. We fan a 'Warm Hub. this winter on a Wednesday evening. It vrds extraordinarily successful with residents enjoying free hot rneals, activrties such as bingo and the chance to SOGialise. We also had advisors attend, to support with tenefit issues and energy efficiency matters. Christmas is alvrays a busy time wth an elderfs luncheon. children's parties and over 30 Christmas hampets to deliver to those residents. individuals I families in the communty that Vre not in receipt of any beneffts. The Charty has continued to invest in making the buildlng safe and accessible. The team and volunteers have cornmed lots of time and effort to ensure the centre is able to prrNide a communty space for residents and others, acioss the cty. We have been able to develop an array of excellent resources with the continued help and assistance of the St Ann's Advice Group, the ReneYRI Trust, Small Steps 8ig Changeg (SSBC), Family Mentoring Service, Nottingham Cty Council through our local councillors {NCC) the UK Shared Prosperiiy Fund, Cornrnunities and Place, Henry Smith and the local community. We have a resolute team of voluntee[5 that support the Centre, vho are actlvely invok¥ed in decision making. We are confident that next yeaT wlll see a fvrther Increase In provlslon and usage ol the centre. Flnancial revlew Income received during the year consisted 01 £70,661 charitable income generated by the ¢entre. including rental of the upstairs office space to St Anns Advice Group and d¢)wDstairs office 8pa(x to SSBC, room hire charges and income generated by Ihe café. Grants were received from Nottingham Cty CounGil totalling £500. The Renewal Trust for £625, and various other 8ource8 totalllng £500 to supp.ort events at the centre. Charrtable re8ource8 expended were made up of £26,336 premises mst and £47,165 communrty actbvity costs, reSu1ng in a deficit for the year of £1.215 (2023 surplus for the year of £604) before transfern, thich has reduced the reserves. ReseNes policy Reserves pollcy The Trustees have establlshed a policy vlhereby the unrestrided funds not o)mmitted or invested in tanglble fixed assets ('the free reseNes'} held by the charity should be three months of the total resources expended (£18.375 based on these financial statements). At thts level, the Board feel that they would be able to contsnue the current activities of the charity in the evenl of a signfficant drop in income. At present there are free reseNes of £79,636. Prlclng pollcy Our pricing policy reflects our strategy of enabling all within our communty. whatever Iheir means. to take part in our activities and to attend the centre. Our events and education programmes are available lo all, for a srnall fee OT free of charge. We hope lo obtain further funding, sponsorship arKI voluntary support to enable us to build on the existin9 activiti'es taking place at our centre while also looking to encourage more. Major risks Rlsk fadors The trustees have conducted their review of the major risks to vthich the charty is exposed. d systems have been established to mitigate those risks.
CHASE NC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YUR ENDED 31 MARCH 2024 Plans for future perlods . We wlll continue to work wrth the cty council to get the long-avrdited restoration of the back decking completed. This will create an extra activty space and be far more aesthetically pleasing. The communty engagement worker will continue to develop activrties that engage the communty and hold large scale events for the various festivals throughout the year. WorkeTr will remain hybrid working for the foreseeable future. As always, we w1 endeavour to increase the centres income through room hire. Structure. governance and management The charty is a registered charrtable company limited by guarantee. The company vras established under a Memorandum of Association which established the objectives and powers of the charitable company and 18 governed under ts Artides ol Associatlon. In the event ol the company bein9 wound up, members are requlred to contribute an amount not exceeding £10. The trustees, who are also the directo lor the purpose ol cornpany law, and who ser¥ed during the year and up to the date ol stgnature of the financial statements were.. Mr G Everitt Ms S Jones Mr T Farmer Mr R Bird Rev A Giles Ms M Lindsay M8 F Abiodun Sowunmi (Resigned 25 July 20241 Recruitment and appointment of trnstees The trustees are supported by a management committee. The twstees and members of the management committee are elected to sepie ft>r a period of three Yea after which they must be re-elected at Ihe next annual general meeting. The trustees and management committee repiesent a broad base ol skills and experience, and this is continually monitored. Where possible, irKlividuals witt) specific skills are approached to offer theMseeS for eleCtn as tnjstees or to the management commlttee. Key Management Peisonnel Debbie Webster Charity Manager The trustees re ort s approved by the Board of Trustees. RevA Giles Trustees Date.. 1.2.-.2v.e. Y
CHASE NC LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the directors of Chase NC Limited for the purpose ol company law. are responsible for preparing the Trustees Report and the financial statements in accordance ryth applioble law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustee8 to prepare financial statements for each financial year %thich give a tnje and fair vlew of the state of affairs of the charty and of the incoming resources and application of resources. including the income and expenditure. of the Charitable company for that year. In preparing these financial ststements, the trustees are requlred to.. - seled surtable 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 whethei applicable UK Accounting Standards have been followed. subjed to any material departures dlsclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless rt is Inappropriate to presurn that the charty V11 continue in operation. The trustees are responsible lor keeping adequate accounting records that disclose wth reasonable accuracy at any time the financlal posrtion ol the charity and enable them to ensure that the financial statements Cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable Steps lor the prevenllon and detectlon of fraud and other Irregularrtie8.
CHASE NC LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASE NC UMITED I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which a set out on pages 6 to 16. Responslbllitles and basis of report As the trustees of the charty land also its directors for the purposes of company law}, you are responsible for the preparatlon of the financial statements in accordan with the requirements of the Companies Act 20(. Having satisfied myself that the financlal statements of the charity are not required to be audit&d under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charlty's financial statements carried OLrt under section 145 of the Charrties AGt 2011. In carrying out my examination I have followed the Oirections given by the Charty Commission under sectlon 145(5)Ib) of the Charities Act 2011. Independent examlnefs statement I have Mpleted my examination. I confirm that no matters have come to rny attention in connection V*ryth the examination giving me cause to believe that in any. materlal, respect: accounting records were not kept in respect of the charrty as requlred by sectlon 386 of the Companles Act 2006. the financlal statements do not accord wfth those records: or the financial Statements do not comply with the accounting requirements of section 398 of the CoMnieS A statement of RecommerKled Practice for accounting and reporting by charrties applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard aprAicable in the UK and Republic of Ireland (FRS 1021. I have no concems and have come across no other matte15 in connection with the examination to which attention 8hould be dravm in th!8 report In order to enable a proper understanding of the financlal 8tatements to be feached. kfsis G4 LLF Phlllp Handley FCA Institute of Chartere HSKS Greenhalgh Ltd 3rd Floor Butt Oyke House 33 Park Row Nottingham NG16EE cix>untants in England and Wale8
CHASE NC LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Unrestrlcled funds funds 2024 2023 Restrlcted funds 2023 Total 2023 Notes Income from: Donations and legacie5 Charitable actNities 1.625 70,661 9,015 46,209 27,500 36,515 46,209 Total Income 72,286 55,224 27.500 82,724 Expendltur• on: Charrtable activities 73,501 54,620 27,500 82.120 Total expendltufe 73.501 54,620 27,500 82,120 Net Incomel(expendltsJre) and movement In funds (1.21S) 604 804 Reconciliatlon of lunds: Fund balances at 1 April 2023 129,374 128,770 128,770 Fund balances at 31 March 2024 128,159 129.374 129,374 The statement of finanThal actlvttles Includes all galn8 and1088e8 recognlsed In the year. All income and expenditure dertve from continuing activrties.
CHASE NC LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible asset8 10 48.523 59,099 Current assets Debto Cash at bank and in hand 11 7,767 94,274 10,042 99,483 102,041 109.525 Credltors: amounts falling due wlthln one year 12 {22,405) 139.250) N•t current amets 79.636 70,275 Total assets less curfent Ilablllt 128,159 129.374 The lunds of the charlty Unrestricted funds 13 128.159 129.374 128.159 129,374 The company is entitled to the exemption from the audrt requlrement contalned in sectlon 477 of the Cornpanies Act 2006, for the year ended 31 March 2024. The directOTS acknowledge their responsibilities for complylng with the requirements of, the Companies Act 2006 with respect to accounting records and the preparation of finanaal statements. The rnernbe have not required the company to obtaln an audrt of its financial statements for.the year in question in accordance with section 476. These financial statements have been prepared In accordance th the provlsions applicable to comFanles suty'ect to the small companies regime. The financlal ZL-12- Yolf ents were approved bythe trustees on........................ Rev A Giles Trustees Company registration number 06934839 (England and Wales)
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies Charlty Informatlon Chase NC Limrted is a private company limrted by guarantee Sncorporated in England and Wales. The registered office is Chase Neighbourhol Centre, Robin Hood Chase. St Ann's, Nottingham, NG3 4EZ. 1.1 Accounting convention The financial statements have been prepared in accordance with the charty's governing document. the Cornpanies Act 2006. FRS 102 'The Financial Reporb'ng Standard applicable in the UK and Republic of Ireland. (°FRS 102") and the Charrties SORP "Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republi¢ ol Ireland (FRS 102y' {effeclive 1 January 2019). The charity is a Public Benefit Entty as defined by FRS 102. The financial statements are prepared in sterling, %thich is the functional currency of the charty. Monetary amounts In these financlal statements are rounded to the nearest £. The financial statements have been prepared under the hbstorical cost convention. The principal accounting pollcies adopted are set out below. 1.2 Golng concern At the time of approving the financial 8tatements, the tru8tees have a reasonable expedalion that the charlty has adequate resources to continue in operational existence for the foreseeable future. Thus the tnstees continue to adopt the golng concem basis of aountIng in preparlng the finanaal statements. 1.3 Chailiable funds Unrestrlcted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. . Designated funds {MPTOe funds which have been set aside at the discretion of the trustee5 for 8peciflc purposes. The purposes and uses of the designated funds are set out in the notes lo the financial statements. Restricted funds are subject to specific conditions by donot5 or grantors as to how they may be used. The purposes arxl uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entrtled to it aller any performan conditions have been met, the amounts can be measured reliably, and it is probable thal income will be received. Cash donations are recognised on recelpt. Other donations are recognised once the charity ha8 been notified of the donation. unless performance Conditior require deferral of the amount. Income tax recoverablé in relation to donations received under Gift Aid or deeds of venant is re¢ognised at the ts'me of the donation. 1.5 Expenditure Expendrture is recognised once there is a legal or constructive obligation to transfer econornic benefit to a third paty. it 15 probable that a transfer of economic benefrts will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classfied by adivty. The costs of each activty are made up of the total of dir&t costs and shared costs, including support costs involved in undertaking each activty. Direct Gosts attrrbutaL4e to a single activity are allocated directly to that activity. Shafed costs Kthich contribute to more than one ath'vity and support costs which are not attributable to a single acttvty are apportioned between those activities on a basis consistent with the use of Yesources. Central staff Gosts are all¢y2ted on the basis of time spent, and depreciats'on charges are allocated on the portion of the assevs use.
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AGcountlng Wicle8 (Continued) 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at Cost and sutAsequentty rneasured at st or valuation, net of depreciation and any impairment losses. Depreciation is rec<)gnised so as to Vlrrte off the cost or valuation of assets le&8 their residual values over their useful lives on the following base8'. Leasehold land and buildings Plant and equipment 10% straight line 15% straight Ine The gain or loss arising on the disposal of an asset is determined as the difference beteen the sale proceed5 and the carrying value of the asset, and is recognised in the statement of financial activrties. Individual fixed assets costing £SOO or rnore are caprtalised al cost. 1.7 Impolfmenl ol flxed avaets loss (If any). 1A Cash and cash equlvalents Cash and cash equivalents Include cash in hand. deposlts held at call with banks. Other short-term Ilquid Investments with original maturities of three month5 or less, and bank overdrafts. Bank overdrafts are sho* wrthin borrowings in current liabilities. 1.9 Flnanclal Instruments The charlty has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Flnancial Instruments are recognised in the charlty's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilrties are offsel, with the net amounts presented In the financial statements, en there is a legally enforceable right to set off the recognised arnounts and there is an Intention to settle on a net basis or to realise the asset and settle the liabilrty simultaneously. Baslc flnanclal assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequently carried at amortised st using the effective interest method unless the arrangement constitutes a financing transaction. vthere the transaGtion is measured at the present value of the future receipts discounted al a market rate of Interest. Financial assets classified as receivable within one year are not amortised.
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Icontlnued) Impalrnient of financlal assets Financial assets, other than those hetd at fair value through income and expendtture, are assessed for indicators of impairment at each reporting date. Financial assets are impaired vrfhere there is objective evidence that, as a result of one or more events thal occurred after the inrtial recognition of the financial asset, the estimated future cash flov have been affecled. If an asset is impaired. the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's ortginal effecttve interest rate. The impairment loss 18 recognised in net incomel{expendrture) for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment vrfas recognised, the impalrment Is reversed. The reversal is such that the current carryin9 amount does not exceed what the Garrying amount would have been. had the impairment not previously been recognised. The impairment revefsal is recognised in net incomel(expenditurel for the year. Derecognition of financlal assets Financial assets are derecognised only when the contractual rights to the cash flows from Ihe asset expire or are settled. or when the charty transfe the financial asset and sut6tantially all the risks and rewards of ownership to another entlty. or 11 some shjnlficant rlsks and rewards of ownership are retained but control of Basic financial liabilities, including creditors are initially recognised at transadion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value ol the luture payments discounted at a market rate of inlerest. Financial liabilrties classrfied as payable v+rthin one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effertive interesl rate meth¢>J. Trade Creditors are obligations to pay for goods or seNices that have been acquiTed in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilrties if payment is due within one year or less. If not. they are presented as non-current liabilrties. Trade creditor5 are recognised inlalIY at transaction price and subsequently measured at amortised cost uslng ihe effedive interest method. Derecognltlon of flnanclal IlablllUes Financial liabiltties are derecognised vthen the chaitys contractual obluations expire or are discharged or cancelled. 1.10 Employee benefits Payments to defined contribution retirement benefrt schemes are charged as an expense a8 they fall due. 10-
CHASE NC LIMITED NOTES TO.THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlon8.and legacles Unrestricted Restricted funds funds 2024 2024 Tolal Uniestricted Restricted funds fund8 2023 2023 Total 2024 2023 Donations and gifts Grants receivable 500 1.125 500 1,125 9,015 27,500 36,515 1,625 1,625 9,015 27,500 36,515 Donatlons and glfts Donation tovrdrds Christmas event Nottingham Clty Council 200 200 Giants recelvable for cA>re actlvltles Nottingham City Council 500 The Henry Smith Charty Renevral Twst The Julia and Hang Rausing Trust 500 6,915 6.915 27,500 27.500 625 625 2.100 2,100 1.125 1,125 9,015 27,500 36,S15 Income from charitable activitles UnrestriGtod Unrestrlcted fund8 fund8 2024 2023 Charltable Income Sale of goods Charitable rental income 28.856 41.805 10,485 35.724 70.661 46,209 11
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendllure on chailtable aclivitles Charltable Charltablg expendltuie expendlture 2024 2023 Dlrect costs. Staff costs Depreciation and impairment Cafe supplies Event C08ts Rates and vRter Insurance Light and heat Repairs and mairrtenance Waste removal Clean9 and hygiene Sundry expenses Telephone Volunteer expenses 15,000 10,576 14,235 3,869 328 2,997 12,135 9.175 1.682 19 42.500 10,590 2,645 651 4,412 884 12,207 3,689 2.449 58 429 80 182 115 70,711 80.382 Share of 8upport and gov•rnanco costs (see note 5) Govemance 2,790 1,738 73.501 82,120 Analysls by fund Unrestricted funds Restrided funds 73.501 54,620 27,500 73,501 82.120 Support Costs allocated to actlvitle8 2024 2023 Govemance costs 2,790 1,738 Analysed between: Charitable expenditure 2,790 1,738 12-
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movernent In funds 2024 2023 The net movemenl in funds ks stated after chargingl(creditingl'. Fees payable for the independent examination of the chartyb financial statements Depreciation of owned tangible fixed assets 2,106 10.576 1.186 10,590 Trustees None of the trustees lor any persons connected vAth them) received any remuneratlon or benefrts frorn the charity during the year, nor were any trustees, expenses reimburned during the year. Employees The average monthly number of employees during the year was: 2024 Numbor 2023 Number Employment costs 2024 2023 Wages and salaries 15.000 42,500 The salary costs detailed above are recharged from St Anns Advice Group. There vRre no employees ththose annual remuneratlon was more than £60.000. Remuneiatlon of key management personnel Key management personnel did not re1ve any remuneration in the year. All key management personnel are employed by St Anns knice Group on 8 full-time ba8bS. Taxatlon The charlty is exempt from taxation on ts activrties because all Its income is applied for charrtable Purposes. 13-
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Tangible flxed assets Plant aml Total land aml Imlldlngs Cost At 1 April 2023 104,322 1,046 105,368 At 31 March 2024 104,322. 105.368 Depreclallon and impalrmgnt Al 1 April 2023 Depreclation charged In the year 45.367 10.433 46,269 10,576 143 At 31 March 2024 55,800 1,045 56,845 Carrylng amount At 31 March 2024 48.522 48,523 At 31 March 2023 58,955 144 59,099 11 Debtors 2024 2023 Amounts falllng due wlthin one year: Trade debto Prepayments and accrued income 405 1.732 8.310 7,767 10.042 12 Credltors.. amounts falllng due wlthin one yr 2024 2023 Trade creditors other creditors Accruals and deferred income 7,407 11.966 3,032 22,691 11,966 4,593 22,405 39,250 14-
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Unrestricted funds The unrestricted fvrKls of the charity comprise the unexpended balances of donations and grants wllich are not subj'ect to specific conditions by donors and grantors as to how they may used. These include designated funds vh)ich have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2023 Incomlng Resources At 31 March resources . expended 2024 General fund8 129,374 72,286 {73.501) 128,159 Prevlous year.. At 1 Aprll Incomlng 2022 Te8ouices Resources At 31 March expended 2023 General fundB 128,770 55.224 (54,820) 129.374 14 Flnanclal commitments, guarantees and conllngent Ilabilltles On 03 February 2010. the charity entered into a 25-year lease on a property. The rent was set at a peppercorn rent, v*hich has not yet been demanded The Charty ts responsible for the repairs and maintenance ol the property and respork8ible for the property insurance costs. 15-
CHASE NC LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Related party iransaclions Transacllons with related partles Throughout the year. the following directors of Chase NC Limrted have also been trustees of St Anns Advice Group, a registered chanty (chanty number 1163512): Mr Grant Everrtt Ms Monica Lind8ay Rev Anthony Giles Mr Trevor Farmer Mr Robert Bird Ms Sheila Jones Ms Fola Shalom Durlng the year. Chase NC Ltd charged St Anns Advice Group an arm's length rental of £11,856 {2023'. £11.856) and a seDiice charge of £4,876 (2023.. £4,876). At 31 March 2024. £1.732 (2023. £1.7321 was outstanding. During the year, the Sl Anns,Advice Group recharged £2.929 (2023.. £2.042) ol insurance costs. and £15,000 of staff salary o)sts. At 31 March 2024. £8,715 {2023.' £22,691) was 0Ed to St Anns Advice Group. The charty vrds provided wth a loan from St Anns Advice Group regarding various expenses. The amount outstanding as at the year-end was £11,966 (2023.. £11,966). The loan is interest free and is repayable on demand.