FUEL Company Registered No. 06738318 Charity number- 1141054 Imaglne Believ• Achi7eve FIRST UNVERSAL ENTERPRISES LIMITED (A company limited by guarantee) UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 01A ril 2024 - 31 AUGUST 2024
FIRST UNIVERSAL ENTERPRISES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 CONTENTS Page offirS and advisers Directors. and trustees, report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the accounts
FIRST UNIVERSAL ENTERPRISES LIMITED OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 OFFICERS Directors and Trustees Colin Bernard Adrian McGregor Donovan Johnson ADVISERS Bankers Co-operative Bank 4-5 Exchange Walk Nottingham NG1 Accountants Tom Geraghty & Associates 3840 North Gate Newark Nottinghamshire NG24 1 EZ Registered Office and Address Unit 7 Ellesmere Crescent Business Park Sherwood Nottingham NG5 1DX
FIRST UNIVERSAL ENTERPRISES LIMITED DIRECTORS, AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their report and accounts for the year ended 31 August 2024 The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles, the Companies Act 2006 and'Accounting and Reporting by Charities.. Statement of Recommended Practice ISORPI, applicable to charib'es preparing their accounts in accordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 effective 1 January 2020,1. STRUCTURE, GOVERNANCE AND MANAGEMENT Status and administration First Universal Enterprises Limited was incorporated as a company limited by guarantee and not having a share capital on 31 October 2008 under the Memorandum and Articles of Association (Registered No. 067383181. The company gIstered as a charity on 1 April 2011 (Registered Nc). 11410541. The Charity is also known as FUEL. FUEL is a charity which operates as a Aternative Education Provider. Trustses Thè trustéas of thè company aré also diractors of the charity. Those who sérvèd during thè pèriod wèrè as follows.. C Bernard A McGregor D Johnson Recruitment and training of trustees The directors of the company are charity trustees as defined by the Chaiilies Ad 2011. The charity or the directors themselves may, by ordinary resolution, appoint new directors who are willing to act. New directors are reqUId in order that the total number of directors does not fall below three. New directors must be deemed qualified and capable of managing the business of the charity and exercising powers on its behalf. Directors do not serve a minimum or m8ximum period. Induction of trustees All new trustees are given the book"Responsibility of Charity Trustees on appointment as well as a copy of the company's Memorandum and Articles of Association. Organi$ational manag¢m¢nt The directors as the trustees of the charity, are legalty responsible for the overall management of FUEL and meet at regular inletvals. Although Trustees may delegate specific aspects of FUEL goveinance lo sUb-mMittees, working groLJPS. the management team, ète. thé ultimate SpOnsIbl11ty for taking decisions vests in the Trustees acting together as the FUEL board Risk assessment and management The board has assessed the major risks lo which the charity is exposed, in particular those related lo the operations and finances of the ¢harily and are satislied that systems are in place lo mitigate our exposure to the major risks. The Trustees do not believe the charity is subject to any substsntial risk beyond the liabilities disclosed in the Annual Report and Accounts. The charity has public liability and employer liabilty insurance to protect the charity in the case of a claim. The Trustees, having taken advice, have introduced risk management processes to assess risks and implement risk management strategies. These Include regular risk asses$menl$ by appropriately trained members of staff.
FIRST UNIVERSAL ENTERPRISES LIMITED DIRECTORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 OWECTIVES AND ACTIVITIES The TIu51ees have referred to the Charity Cotnrnission'5 general guidance on public benefit to ensure Complian when reviewing the charity's airns and objectives and in planning its future activities. In particular, the trustees consider how planned activitie8 will contribute to the FUEL'S ch8ritable objects, which are as follows.. al To relieve poverty hardship by providing education. training and advice and assistance to those in need of such servi$ by reason of their social and e¢onomi¢ circumstan$. bl The further raising of the standard$ of care for the young people attending el The In¢aSe of standards of Education ftsr those young people dl To move closer to financial stsbility STRATEGIES FOR ACHIEVING OBJECTIVE For the Board of Trustees to work in partnership with key Stskeholders in¢luding al Staff bl Parents cl Other Providers dl Other Voluntary Groups Significant activities Contributing to the achievement of these objectives. There are a range of activities required to meet the objectives outlined sbove these include.. al Strategic structured in-house training for staff., bl Grant applications for planned proje¢ts'. el Operational meetings with staff", FUEL ml8slon Is as follows: First Universal Enterprises Limitèd IFUELI seeks to transform lives by helping thosa most in need to gain fulfilling 8nd sustsinable employment. We aim to meet the unique educational. social, and emotion81 need8 of our diverse pupil group in a safe and nurturing environment. We aim to both en¢ouffjge and empower pupils to develop skills ne$sary to pursue post 16 opportunrties and give a lifelong love of leaming. At FUEL we focus on developing the"whole pupil," by teaching and reinforang acadernic, personal and the Social ski115 needed for them to achieve success and move onto productive tIZenShip. FUEL achieves its Mission by: Successfully tsiloring a program to meet the needs of each pupil, appropriatèly challenging their capabiliti8s and leading to routes in to further education, training. apprenticeships and employment. We have developed our Teaching. Learning 8nd Assessment Quality Improvement Plan which focuses directly on observation8 and continually raises quality of delivery and ensures that qualifications are achieved at the highest of standards, uttimately improving outcomes for pupils. We have SUC$$fullY expanded our programme to Include further GCSE 5ubiec15 to enh3nce further our offer and ensure that pupils have the opportunity to leave FUEL wth a full and balanced set of qualifications. Developing partnerships with colleges, apprenticeship providers and employers to S5Si5t our dienl group in moving forward into positive destinations.
FIRST UNIVERSAL ENTERPRISES LIMITED DIRECTORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 continued.. Working in collaboration with other provider3 and in the community to increase a¢$S to training and employment for our target client group. FUEL have a Gle3r vision and progress has been m8de to further develop the school and improve the curriculum and quality. the curiiculurn is being expanded and improved upon year on year and we are striving to ensure we continue to develop the school further in terms of cuiiiculum. quality and facilities on offer. FUEL core $8rviceB can be 8urnmarised as follow8.. Education.. FUEL has been working vlith young people who have been pemianently exduded or on the veige of pearnent exclusion frotn mainstream school enviiontnents In KS314 since 2009. The majority of our pupils are from highly depiived backgrounds and have either speaal educational or emotional needs. Combined. staff at FUEL have over 20 years ol experience In supporting educab.onal provision and have experience In disciplines such as Teaching, Youth Work, Social Care, Criminology and Psychology. We have a proven history ol delivery and engaging with those pupils who require extra support around their Behavioural, Emotional and Social Development18ESDI by breaking down the barriers ich young people lace on a day to day basis and support them to progress either through re- integration back into mainstream schools, post 16 education, employment or apprentIshIps. Our educational and pastoral delivery is engaging and encourages aspiration, challenging personal potential. Outcomes for pupils are extremely positive. Our qualifications are carefully selected from either the KS4 performance tables or are highly industry recognised which offer direct pathways into further education. employment or apprentiTrships. These courses offer a flexible and high-quality alternative to a traditional rnainstream school curriculum, whilst still trying lo ensure pupils can access and achieve core GCSE subjects which supports them in their adult lives and helps them to achieve econorric wellbeing. FUEL gained Independent School Status in January 2017 and had our first full Ofsted inspection in January 2018. FUEL was graded good in all areas. Directors are heavily involved in all areas of operations and day to day running of the provision and ale actively involved in leading 8nd supporting change 8nd improvernent. Having this presenTr allows for fast responses to any identified issues or interventions deetned necessary. FUEL was graded Gold for Leadership and Management In our135t NCSEP Inspection and Good in our Of5ted inspection in Janu3ry 2018. Ofsted key finding5 Included the followng".- "Senior leaders monitor and Impiove the quality of the (xrriculum and of teaching on an ongoing basis. They have a thorough understanding of the school's strengths and they take decisive action to address any concerns. 'Senior leaders demonstrate dedication and Mltsment to improving life ch3nce5 for pupils who have not previously experienced success in their education." Information Advice and Guidance= Identifying care8r goa15 and skills n8eded and foitning a plan regaiding progression routes e8rly on is key in ensuring pupils progress into positive destinations. C3ieer IAG Ilnformation, AdviTr and Guidance) support is provided to all young people. FUEL stsff are Level 2-6 IAG certified. Each pupil has a progres5 plan which m8p5 continued ohievement and how this relates to their required P05t 16 destination to college, further educab"on. appientlC85hip or tiaining. FUEL hav8 close link5 Wlth local colleges and work c105ely with thern in oidei to ensure pupils have the correct information and advice available to them a5 500n a5 Possible. Prè- Employmant Trdining.. Our carefully selected progiammes endeavour to bring suitable unemployed candidates up to industry recognised standards sel by employers for a range of jobs and th8ref018 enhancing their etnploy3bility.
FIRST UNIVERSAL ENTERPRISES LIMITED DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 A¢hlevempnts antl Perfom¥n¢e FUEL'S mission 1510 relieve poverty 8nd meet the unique educational. swal. and emotion81 needs of ourdiver5e pupil group I environmenl We aim lo tM)Ih encourage and emwwer pupiL% lo devdop skills neSaryt0 pursue wsl 16 opporiunilies and E ming. At FUEL wefocus on devekjping Ihe"whole sludenl." byteaching and reinforcing academic, personal and Ihe sla1., to athieve success and move onlo productive citizenship. FUEL is an Otstsd rated Good Independent School which provideg beswke packages to youno people in key Stsges 3 and 4 Education81 Needs 2nd Disaknlilles ISENDI, which combines more tradthon818cademl¢ subjectswlh vocaiional1&8rniny. We tAtsr forth0$6 young pèople who strugg in mainstream enwronments whtth6r h8v8 bèèn pèmian6niiy tx¢lud6d or., those wlhoul a school pl8Ca 8nd Ihosewho disengaged or 81 risk of becomlng NEET. Our strength is eng8ging wlh those extra support around their Soc181. Emotional and ent81 He811h needs ISEMHI and who are neU1Ver$e. We break down the people fa on a da10£Y basis lo suNM)rt them lo progress In education. AI FUEL, Speal educational needs are Very ImrN)rtanL As we are a specialist provision. pupils who come lo us generally neei Ir8dilional school can offer. Whilst al FUEL, pupils h8ve the opportunity of a fresh start Mlh a f8vor¥b ralio of staff lo pupils 8 where pupils can feel safe and reflecton their behav[ and arnIng whiL%l having additional 5UPWrt for 50ci3l. ernotiond and Qu21ityof leaching 15 very g(xNJ. regular learning walks and lesson observation5 take Pla we r&introdU eeral lesson c and sottbe of Ihese were completed in Gonjunclion wlh the new Teaching and Learning Manager. FUEL also reiVed an Ofste September, where the majority of teachers had lessons observed by iwo Ofsied inspector$. Teachets create an environment 11 10 focus on aming which is r&fl6tt8d within our pupils, results, 8chlev6ménis and feedback. Addlli¢nal support has been pul I leachers lo help them achieve a good quality of teaching and 10 provide 8 member of $tt who knows the pupils lo help devek trust needed lo ensure learners are able to eng8ge and thu5 reTrive oood quality le8ching. Further support h85 been pl8nned' yearto supwrt teachers who have found managing behaviouror leaming challenging. Over811 achievement for this 8¢ademic year were veryoood across all 8reas bul GCSE results were definiidy affected by the r m4rkino and gradino stsnd8rds. FUEL'S outstanding achievement were in Mechanics and Conslruclion. leamers reived ¥ lo1& pass raie in both vocalional FUEL steks 10 Ir8nsfomi Ilvas by helping those mosi In need 10 g81n fLJMlling and Sustsin8fr education and empbyment. As partof this FUEL is committed to ensuring Ihal all young peae are given the skills and re50ur¢es to SLueed. and Ihis incl every young person can eat hedlhy, balanced. nulrilious hotfood. Therefore. we fund a daily breakfast club forevery pupil whi well as choosin9 to fund a free hol schtol dinner for every pupil including those not on free school meals. FUEL in the Community FUEL runs a food r&dislribulion and essential care pa1 ddivery servi lo disadvantaged families within Nottingham, wlh r school and numerou5 extemal agencies including Fra[thevtk and Small Steps Big Changes ISSBCI. FUEL currentlydelivers to f8milies. We 8lsD have add[81 emergency requests for food and loilelry parcds 8nd more referrals coming in each week. regularly makes daliveries to additional families. FUEL worklng wlh ourlo¢81 Councillors have provid6d additional food 2nd es Including winier food parcels each Christmas period to enawe a number of families 1¢ have food during Ihe school holidays, fo parcels and 85 essential care rTrI5 ddivered to families of a k)¢al primary school who are in eipt of free school mea eliveries lo thefamilies of Ihe pupils who attend FUEL. Everyweek FUEL utilises Fairshare lo fomi the basis ol the parc addthonal fresh meal. fruit and vegetables from supprmatkets to ensure that the food parcelswe provide meet individual and prowde enough fresh produce lo enb each fami to cook healthy, nutritional, balanced me8ls. Furthermore, FUEL fv8VÉ Cards to f8milies lo show how lo Cook tha produce in the par¢61s 10 maka ht8lthy, nuirilion81ty h2ned meals on a budget usi Slow Cookers lo support f8milies lo cook in ihe most economic melhcl poswNe. FUEL has also supported local disadvantage families InUlng those as aSsed as living in r)verty or living In fuel povertywil while goods such as replacing 8 broken fridge orfreezer. providing free slow cookers lo our regularfood r¢ recipients who to use their main oven and have even purchased beds or bedding so children have 50me¥here lo sleep when they are plad Alongside household items. FUEL have used In Kind Direct lo source a range of winter clothing induding coats lo enable us to Olhef cli)Ihing lo thire of the famil$ we supportto ensure thai every thild we work th has a¢SSwalM dolhing 8fid c minimise tha isolation or polenii81 sh8m& of not having 0thIng to wearto education. FUEL runs Communty learning programmes lo support vulnerable adullg gain the qualrficalions required lo enter employment dellverlng Vrtaiional Ir8ining pramS to Afgh8n refugees for over 3 yeats. Thls has covared Construction Skills Courses. Health and S8fely Courses. Communiiy First Aid Courses and Hsir and Beauty Courses. These courses have been run a r methods including t¥Il9h¢ course5. holidaycourses. after school hour courses and 1-day stand-alone course5 In the last attended Ihe refugee awards celebration evenino. handing OLrt over 30 rtifiCateS of achievement lo the leamers who had co courses al FUEL induding refugees on the previous Syrian refug& programme and the current Afghan refugee programme. FUEL 5Wn50rs several local children's activities and young peoe'S football teams. am of vthom would be unable lo 0rateW funding due lo the wverty levels and deprivation of the families of the children who parbcipate. FUEL fund these football team,. and away kit, transport coslswith free use of their mini bus. FUEL have sUPPOrted the Under 16'steam since theyfirsl started 81so support an Und6r-18's team and in th6 L8S112 months have siartad 10 SUPWrt 8 girfs youth football tèam. 8Jl of thè iaam. up of disadvant8ged young people. the rnaiority of whom are from f8milies wlh single p8renls who are registered living Wiihin of deprivation n8lionally The sessions help divert young people from potential youth offending or anli-swal behaviour. bul als people gain a passion for parbcipating in sport and developed soft skills from pwing within a leatm.
FIRST UNIVERSAL ENTERPRISES LIMITED DIRECTORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 FUEL'S Beneficiaries In keeping wth FUEL'S charitable objectives, FUEL continues lo reach and work with clients who are disadvantaged in the labour market. This includes candidates who face different and multiple barriers lo work., people who are hard to reach and who often need non-mainstreamed services and support. FUEL has an ability lo reach Into communities and provide ServIS lo such groups and to help them Increase their employability and gain employment through education and training. This year our client profile was as follows.. 69.85°k were young people under 25 and 30.15 /a aged 25 + 51.220A were people assessed as having special educational needs ISENI. 30.490/0 were from ethnic minority groups. Our client group was made up of 82.930A males and 17.07Vo females 67.07Vo of our client group was from a low income household The majority of the client group face difficult and multiple barriers FUEL'S Reserves Policy The current reserve policy is to maintain sufficient cash flows for known commilmenls. Core costs." In line with SORP guidelines, FUEL strives lo incorporate core costs into project budgets. However, il is recognised that this is not aayS possible and that for some years provision needs lo be made lo cover core costs al the outset of each year where necessary. Financial Rgvigw and Rg$ult$ for thg ygar The financial results for the year are sel out on pages 9- 15.
FIRST UNIVERSAL ENTERPRISES LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 Trustees. responsibilities The Iruslees who are a150 direcltsrs of FUEL for the purpose of company law, are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). In preparing these financial stslemenl$ the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prLJdenl', state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the finan¢ial stslemenls on a going ¢on¢em basis unless it is inappropriate to presume that the charitable company wll continue in operation. The trustees are responsible for keeping adequate accounting records which disdose with reasonable accuracy at any time the fi'nancial position of the company and to enable them to ensure that the accounts Comply with the Companies Act 2006. The dire¢tors are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant information of which the ¢haritable company's independent examiner is unaware", and the directors have tsken all steps that they ought to have taken to make themselves aware of any relevant information and to estsblish that the independent examiner is aware of that infotmalion. This report was approved by the board on and signed on its behalf by: A McGregor Diractor l Trusts First Universal Enterprises Limited Unit 7 Ellesmere Crescent Business Park Sherwood NOTTINGHAM NG5 1DX
FIRST UNIVERSAL ENTERPRISES LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIRST UNIVERSAL ENTERPRISES LIMITED FOR THE YEAR ENDED 31 AUGUST 2024 I report on the accounts of the charity for the year ended 31 August 2024. sel out on pages 9-15. RoSP¢¢tIVo r¥$pon$ibilitios of tru$t¥•$ and ¢xaminor The charitys trustees, who are also the directors of First Universal Enterprises Limited for the purposes of company law. are responsible foi the preparation of the financial stslemenls. The Iruslees consider that an audit is not required for this year under seetion144121 of the Charities Act 2011 Ithe'2011 Act'l and that an independent examination is needed. The Charty's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Certified Public Accountants Association. Having satisfied myself that the charity is not subject to audit under the company law and is eligible for independent examination. it is my responsibility lo". examine the accounts under section 145 of the 2011 Act., follow the procedures laid down in the general directions given by the Charity Commission (under section 145151 Ibl of the 2011 Act,. and stale whether particular matters have come to my attention. Basls of 1nd9nd9nt èxamlnèrfs report My examination w85 carried out in accordance with the general direcb.ons given by the Charity Commission. An examination includes a review tsf the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion Is given as to whether the accounts piesent a 'lrue and fair view, and the report is limited lo those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe that in any material respect the requirements.. to kèèp accounting rècords in accordance wth séction 386 of thè Companiès Act 2006, and lo prepare finanual stslements whi¢h a¢¢ord with the a(>untIng records, ¢omply with a¢¢ounling requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice,. Accounting and Reporting by Charities have not been mel., or to which, in my opinion, attention should be drawn in order to enable a proper understanding or the accounts to be reached. Tom Geraghty BSC. FCA Tom Geraghty & Associates Ltd 38 North Gate Newark Nottinghamshire NG24 1EZ Dated '.
FIRST UNIVERSAL ENTERPRISES LIMITED STATEMENT OF FINANCIAL ACTIVITIES R THE YEAR ENDED Vnre9trictèd FuNd Restri¢ted Fund4 3110812024 3110312024 Incomlng Rosour¢o8 Adivi(rgs In tyrfh9r8nTrof Ihg ¢h8ntys gbJgGts Training and &mployment 439.016 439.015 70,9 Invg¥lmenl in¢omg Other incoming resources 1,476 Total Incomln9 re6011rc•$ 439.015 439.Q1S 1,184,879 R¥#ourCI¥ •xpèndd Chantableexpenthtui TrAinino and ÈmtAtyment Governance costs 610,627 610,627 1.109.596 4.332 Totsl resoyrc•8 •xpondgd 510,927 510,$27 Iltt in¢omingllout90ingl règOu¥¢èg fr>rthg ygor 71,$12 71,$12 70,951 PnOryÈèr&dJustment Funds at the 9tart ofthe yeAr 266.854 70.900 255,803 *the •nil otlh• y•ar 184 342 326 754 l Df thEabDve TEsufts arEderIV IJ continuing actiwties There were nDQther recagnised gains or1058es otherthan thDse Sta above. Movements in fund$ are dis$8 in Note 1010 thg financial &tatemgnt$. Thg now¥form part of Ihgse financill sMentS 9
FIRST UNIVERSAL ENTERPRISES LIMITED BALANCE SHEET AS AT 31 AUGUST 2024 3110812024 3110312024 Note8 FIXED ASSETS 130,626 122.226 CURRENT ASSETS Debtors 28,233 20.991 Cash at bank and in hand 167,137 251.359 Total Current Asset 19S.371 272.350 CREDITORS.. Amounts due within one year 53,597 46.2211 NET CURRENT ASSETSI ILIABILITIESI 141,774 226,129 TOTAL ASSETS LESS CURRENT LIABILITES 272,400 348.355 CREDITORS.. Amounts falling due after more than one ye8r 10 17,166 21.602 Nel Assets 255,235 326,984 FUNDS Unrestricted Fund5 Restricted Fund$ 11 184,284 70,951 225,262 101.722 TOTAL FUNDS 266,236 326,984 The directors are satisfied that the company 18 entitled to exemption from the audit requirement contained In Section 477 of the Companies Act 2006 for the year ended 31 August 2024 No member of the cotnpany has deposited a noti, pursuant to Section 476, requiring an audit of these account8. The directors ad(nowledge their responsibilities for. ensuring that the company keeps accounting records which comply with section 388 of the Companie5 Act 2006", and preparing account5 which give a tiue and fair view of the state of affai15 of the company as at the end of the financial year and Df its incoming resources and application of SourCeS. Including Its income and expenrtu, for the financial year in accordance wth the requirement5 of section5 394 and 395 and which otheiSe comply with the requirements of the Companies Act 2006 relating to accounts. so far as applicable lo the company. The accounts were approved by the board on 0610612025 and on its behalf by.. A McGregor Directorl Trustee Company nurnber.. 06738318 Chanty number.'1141054 The notes fomi part of these financial statements 10
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng Pollcles Charity Information First Universal Enterprises Limited is a private company limited by guarantee incorporated in England and Wales. The regi51ered office is Unrt 7. Ellesrnere cest, Bu8ine88 Park, Shepwood. Nottingham, NG5 1DX. lal Basis of Accounting The accounts have been prepared in accordance with the charity's Articles of Association. the Companies Act 2006 and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accoun18 in a¢¢ordan¢e with the Finantsal Reporting Standard applicable In the UK and Republic vf Ireland IFRS 1021 (effective 1 January 2020land the Charities Act 2011. The charity is Public Benefit Entsty as defined by FRS 102. The accounts have b88n prepar8d on the historical cost basis. The accounts are ppared In sterfing, whi¢h is the functional ¢urren¢y of the Charity. Going concern At time of approving the accounts. the trustees have a reasonable expectation that the charity ha8 adequate re80urces lo continue In operational existence for the foreseeable future. Thu5 the trustee5 Continue to adopt the going concem basis of accounting in preparing the accounts. Ibl Fund Accountlng UnstriCted fvnds are available for use al the discretion of the trustees in futheran¢e of the general objectives of the charity. Restricted funds can only be used for particular restricted purposes with the objec15 of the charity. Reslriclion8 ar18e when specified by the donor or when fund8 rai8ed for particular restricted purp05e5. Icl Incoming Resources All incoming resour$ are in¢luded in the Statement of Financial A¢tivilies when the charity is enlided lo the income and the amount can be quantif with reasonable araCy. The following spe¢ifi¢ poli¢ies are applied to parti¢ular categories of incomes Fees, grants. donations and grfts received are In¢lJded in full In the Statement of Finanual Actwities when receiv8ble. Grants, where entitkment is not conditional on the delivery of a spe¢ifi¢ performan¢e by the ¢harity a recffjnised when the charity becomes unconditionally entitkd to the grant. Donated services and facilities are induded al the value to the charity where this can be ouanlified. The value of services provided by volunteers has not been Included In these accounts. Incorning resources frorn giants, where related to performance and 5pecrfic deliverables, are accounted for as the charity eams the rht to consideration by 118 performancè. The notes fom part of these financial statements 11
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Idl Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and service5 for its beneficiaries. It includes both cost5 that can be allocated directly to such adivities and those of an indirect nature necessary to support them. Governan costs include those costs associated wth meeting the constitutional and statutory requirernents of the charity and indude Independent examination f8es and accountancy fees and other costs linked to the strategic management of the charity. (el TangSble Flxed Assets Fixed assets are stated at costs less accumulated depreciation. Depreciation is piovided at rates calculated to write off the cost of each asset over ils expected useful life, on the followng basis.. Leasehold Building Straight line over 28 years Fixture5 & Fillings- 151¢ reduoing balance IT Equipment- 30 /0 reducing balan Motor Van - 20¢10 on cost lfj Taxatlon The Company is not subject to Corporation tax being a charity. If) Company Ststus The Company is limited by Guarantee and does not have 8 Shale Capital. The liability of the members in the event of the cornpany being liquidated is limited to £1 per member. Training and employment income Unrestricted funds Restricted funds Total 3110812024 Totsl 3110312024 Nottingham Schools 439.015 439,015 1.114.007 Total 439,015 439.015 1.114,007 Donations and Grants Sundry Grants and Donations Restricted Grants Furlough Grant 70,900 70,900 No grants received in the period The notes form part of these financial statements 12
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Au uBt 2024 Training & enl Restricted Funds Governance Cost -24 Mar-24 Charitable Expenditure staft Costs InolÈ 61 Pensions P8yroll Admini8tration Staff Training Educational Trainers Profession¥1 Membership Fees Business Meeting Rent & Setvi¢e Charge$ Rates Water Electrialy & Ga8 Insuran Cleaning & Waste Disposal Telephone & Broadband Computer Sofiware & LiGense5 l.T. Sundry Equipment Oth&r subscriptions Stationery. Printing & Postage Hire of Equipment & Tools Safely testing & InpseclionlFirsl Aid Repairs & Maintenance Electri1 rterlls Independent Accountant Legal Service$ Travel and Sub$i$lÈnce 325,952 7,287 325.952 7,287 558 2,119 10,876 3,600 433 5.198 1.914 1,628 7,048 788,976 21,776 1,632 12,394 11,547 3,420 1,014 22,926 5,945 2,510 14,150 6,450 24,666 8,006 18,107 558 2,119 10,876 3,600 433 5.198 1.914 1,828 7,048 9,568 2,251 4.170 5.041 1.172 3,526 9,568 2,251 4.170 5.041 1.172 3,526 2,305 7,160 1,146 46,260 603 1,146 46,260 803 1.700 1,440 44,736 779 2,700 1,353 25,983 12,958 1.700 15.375 4,184 3,511 15.375 4,184 3,511 Ho8pil81ity Free School Meals AchEvement Awards Materials Staff weware Entertainment Ilnternall Committee Expenses Bank charges D&pr&cialion Sundry Other offi Expenses Prorllolion Tools PPE 15,101 7,652 5,451 1,216 1,627 4,360 1,296 937 1.fj51 4,360 1,296 937 1.651 498 29,024 1,058 5,318 498 29,024 1,058 5,318 2,116 25,162 5,549 4,962 491 595 410 580 fj85 580 fj85 508,269 2,258 510,527 1,112,432 The notes form part of these finanual 5ts1ements13
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Not outgoing ro$ourcg$ is Ststed after charging: 3110812024 3110312D24 Depreciation Independent Examiners, Fee 29,024 500 24,933 2,700 29,524 27,633 Staff Costs 3110812024 3110312024 Salaries & Wages Pension Social Security Costs 270,688 7,287 55,264 655,443 21,776 133,533 333,239 810,752 No employees earned more than £60,ODO per annum. The Charity conlribules lo a defined pension scheme operated wth the new aulo-enrolmenl legislation. The assets are held and administered by Now Pension. The pension cost represents contributions payable by the Charity to the pension scheme. A McGregor a director received remuneration of £012023.. £01 in an operational Capacity. The average monthly number of employees in the period was x12023.. 291, calculated on the basis of full time equivalents the average numbei was as follows". 3110812024 numbgr 3110312024 number Training and Employment Administration 24 24 29 29 The notes fomi part of these financial statements14
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Tangiblo A888ts Building Lease Fixture8 & Fittin IT Motor Van Total Cost orvaluation At 31 March 2024 30,500 151,669 115,060 24,851 322,080 Addition$ 20.024 17,400 37,424 Disposa15 At 31 August 2024 30.500 151.669 135.084 42,251 359,504 Depreciation At 31 March 2024 4,949 86,348 89,505 19,051 199,854 Charge for the year 913 9.798 13.674 4,640 29,024 Disposals At 31 August 2024 5,862 98,146 103,179 23,691 228,878 Net Book Valu8 At 31 August 2024 24,638 55,523 31,905 18,S60 130,626 At 31 March 2024 25.551 65.321 25.555 5,800 122,226 Debtors 3110812024 3110312024 Trade Debtors Prepayments Deposit pending refund I Supplier Credit VAT Rounding 13.186 14,847 200 6,137 14,847 28.233 20,991 Credltors: Amount falllng due more than one year: 3110812024 3110312024 Trade Creditors Olh8r Cr8ditors & Accruals Wage advance5 to staff Taxation & Swial Security 32.516 8,034 1.010 12.037 53.597 26,650 7,534 12,037 46,221 10 Credltors: Amount falllng due more than one year: 3110812024 3110312024 Bounce Back Loan 17.165 17.165 21,602 21,602 The Bounce Back Loan wa5 taken on 11 June 2020, to provide addrtional c85h flow to fund charitable activitEs during Covid 19 pandemi¢. The loan 1$ repayable over 6 years at an interest rate of 2.5% The notes form part of these financial statements 15
FIRST UNIVERSAL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11 Movement In Funds Net Movement in funds At 3113124 At 3118124 Unrestricted Funds Restricted Funds 255,803 70,951 326,754 71,512 184,291 70,951 255,242 171 71,512 171 Prior year adjustment TOTAL FUNDS 326,754 71,512 255,235 Net movement in funds, included in the above are as follows.. Incoming resources Resources expondgd Movement in funds Unrestricted Funds 439,015 {510,5271 71,512 Restricted Funds TOTAL FUNDS 439,015 510,527 71,512 12 Related party transactions 13 Controlling Party The company is under the control of the Board and no one person has ultimate control. The notes form part of these financial statements 16