Portlshe4d Youth & Commulllty Celltre Llmlted Formally Porti5head Youth Centre Limited Company limited by guarantee Report and UDaudlted financlAI statements for the year ended 31Rt December 2023 Comp4ny No. 7588073 Charlty No, 1143238 Brooklng Rust Chartered AecouDt4ntJ 108 Hlgh Street Portl$h¢od North Somerset BS20 6AJ
Portisbead Youth & Community Celltre Limited Company limited by guarantee Colltents Page Directors. and trust¢es' report Independent Examiner's report Statement of financial activities Balance sheet 9-10 Notes to the unaudited financial ststements
Portishead Youth & Communlty Centre Limltsd Company limited by guaranlee Annual report of the directors alld trustees The directors and trustees present their report together with the unaudited financial statements for the year ended 31, December 2023. The trustees have complied with the duty in Section 17{5) of th¢ 2011 Charities Act to have du¢ regard to guidance published by the Charity Commission. The report is prepared in accordance with the small companies r¢gime {Se¢tion 419(2) of the Companies Act 2006). AdmlDlstrAtlve d¢t4ils The company, Portishead Youth & Community Centre Limited. is a company limited by guarantee number 07588073 and is a registered Gharity, number 1143238. The company was incorporatcd on l April 2011 and commenced tIvitieS on I" January 2012. The registered office and operational address is.. l Harbour Road Portishead North Somerset BS20 7DD Dlreetor$ltrustees R.F. Sainsbury (made Honorary President January 2023) R.T. Amruihur M.E. Beaumont (resigned 22. May 2023) G. Bishop E.J. Blackmore (appointed 28 Au8USt 2023) D.R. Cook R.M. Cruse L.J. Davey (appointed 28 August 2023) N.J. Holland C.E. Jones (resigned 22, May 2023) J. Lord S.A. Mason (appointed 28 August 2023) J.W. Power Z. Priddle (appointed 7 De¢ember 2023) T.R. Slatt¢r (resigned 7 December 2023) R. Stickler (appointed 7 December 2023) S.T. Swift (appointed 28 August 2023) S.J. Thorn¢ (resigned 22 May 2023) Reporting Aecoun18nts Brooking Ruse Chartered AG¢ountants 108 High Sireet Portishead North Somer5¢t BS20 6AJ Page I
Portishe4d Youth & Community Centre Limited CompAny limited by guAralllee Annual report of the dlreetor8 and truste ..c¢>niiTrued Purposes #nd aim8 Our Charity's purpose as set out in the objects contained in the company's memorandum of asso¢iation are for.. The provision of a community centre for young people. To further or benefit the residents of Portishead and ihe neighbourhood, witltout distinction of sex, sexual orientation. race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advan¢¢ education and to provid¢ facilities in the interests of social welfare for re¢ation and leisure time o¢¢upalion with Ihe objective of improving the ¢onditions of life for the residents. Charity trustee selectlon Trustees are appointed by Ihe management committee on the understanding that they will further the purposes and aims of th¢ charity detailed above. The management committee shall be constituted as follows: I representative of North Somersel Council 2 representatives of Portishead Town CoLtncil I represenl&tive of the Gordano School staff I represenlaliv¢ of Avon & Somerset Constabulary Up to 10 co-opted from the local ¢ommunily Achlevements durlng the year This is the twelfth year of trading and once again it has been a very busy year a5 the Centre continues to grow and meet chan8in8 needs in the lown following 2 years of Covid disruption. We have once again managed to all but mitigate 8 large project¢d financial loss from the beginning of the year. our r¢Alistio budget for Ihe year proj¢¢ted a significanl loss following high inflation and significant incr¢as¢s in salary and ¢ner8y costs. at the end of the year we had managed to reduce this loss $ignificanily, as noted in the Treasurer's Report on pag¢ 5. My thanks to the diligenc¢ and hard work of Kim. Karen and indeed th¢ entire staff team for delivering $u¢h a strong result under the circum51ances. Since 1966, Portish¢4d Youth C¢ntre has remained a central hub in the community providin8 invaluable services tr) support children and young people and their parents and care providers. Driven by the centre's core values of oUntabl]Ity, reliability, professionalism. positivity. respe¢t and ultimately its passion to makc a differenGe and provid¢ a happy and safe place for all. the centre has grown from strcngth to strength. and has proudly expanded its 5¢rvices to support more and more groups of people. What started as a'tyouth club" has transformed into a thriving centre supporting the different needs of ante and post-natal groups, babie5 (via a creche), toddler and pre-school groups and senior citizens, as well & continuing to provide a wide range of school-age activitie5 for primary and secondary school children. PAge 2
Portishead Youth & Communlty Centre Limitsd Company limited by guaralltee Annual report of the dimtors and truylees ..¢otLtlnd The centre is thrilled to be abl¢ to offer activities includin8 the Rock Proje¢( music and recording sessions (making use of its impressive recording studio). street dance, history groups, prayer meetings and holiday clubs and activities. In addition, the centre's vibrant seniors group enjoys weekly social meetin8s with a m¢al as well as organised day-trips. The centre is delighted io work ¢10sely with Gordano S¢hool to run a daily youth hub (situated at the school) where youn8 people can drop-in for a chat in a safe space. It also works closely with community police and local shops to provide a proactive oulr¢aGh servi¢e with the aim of engaging young people out and about in the town. As part of its crucial services. the centre also provides alternative learning provision to young people who find it difficult to a¢¢ess school provision, working closely wilh the young person, their school and family. Undoubtedly, the COVID pandemic changed the needs of the Portishead community and the centre has continued lo work tirelessly to meet additional needs with regards to food poverty. support for mental health and reducing loneliness and isolation in adults (youn8 and old)- The centre recently undertook a review of its provision asking people how its services could be offered more widely. A central finding was the f&ct that people thou8ht the Qenlre exclusively provided youth club services and therefore was "noifor ihem" As a result, the centre has de¢ided to change its name to Portishead Youth & Community Centre, to more accurately reflect what il otyers to all the people of Portishead. The Ccntre plans to relaunch its websiie in Spring 2024 with exciting new features including online booking and payment facilities for all s¢rvices. New signage will also shortly appear on the building. One thing that will always remain is the centre'$ unstinting commitment to meeting the needs of the community. its friendly welcome, the highly supportive environment and its wide range of engaging activities for young and old. The centre is immensely grateful for the vital donations and 8rant$ it has continued to receive from variou5 organisations. includin8 Portishead Town Council. the National Lottery and Portish¢ad Nautical Trust, in Addilion to many other individual and group donations. The ongoing multi-year support from these three groups in pftrti¢ular really provides the Centre with a renewed degre¢ of financi81 security moving fonvard. for which we are imm¢nsely grateful. Despite this generou5 funding, each year remain5 a challenge financially as the centre seeks to meet the on80ing and varied needs of the community with lf-generat¢d income. We are also thankful for a range of fundin8 from QuarteL North Somerset Council and Portishead Town Council to help us to provide invaluable activities and support across a range of important areas including Seniors support and holiday activities lo vulnerabl¢ families, among others. Food related funding was also received from Portishead Town Council, Neighbourly and Wailros¢ Portishead. Kim Jones in particular worked with the Local Food Bank to help feed our more vulnerable families. We continue to be grateful to Children in Need and Quart for their 5UPPOrt with funding for youih mentoring work. Various applications have be¢n made for grants to support the running of the Centre overall during 2023 and we are very grateful to everyone for their support. page 14 provides a complete list of those who have support¢d us. Pag¢ 3
Portishead Youth & Community Centre Llmlted Company limited by guarant¢¢ AnnuAI report of the dlreetors and tru$t¢ ..continued W¢ have also been generously supported by lo¢al p¢ople, or8anisvitions And businesses in the form of donations. These includ¢, but are not limit¢d to-. Portishead Lions Club Intemational Portishead Women's Institute Rea Davies Frank Derrick Stuart Griffith$ Doris Stevens Portishead Worknlens Club BS20 Sports Bar Diane Goulding Phoenix Bar Lidl Neighbourly Laurie Higbed Phil Sanders Sue Stone Fox Cycling W¢ continue to be very grateful to the Porti5head Lions Club International. They have continued to support with odd jobs around the Cenlre,. the Trusl¢es and staff are very grateful. W¢ were also delighted lo continue playing an a¢tive part in the Portishead in Bloom displays with the particular support of Adrian and Diane Workman. Portishead Youth & Community Centre ¢ontinues to be seen by the community as a pla¢¢ of expertise and safety for engaging children and young people. We continue to work with Gordano School and others to provide education for s¢hool pupils who struggle to engage with more traditional approaches of l¢Rrning and our relationship with Gordano is as strong as ever. Our Alternative Leurnin8 Provision (ALP) is a growing area of support and our ¢xp¢rtise hAS been recognised by being successfully ¢hosen as a Preferred Supplier of ALP arross Bristol City. South Gloucestershire and North Somerset Councils. Th¢ Trustees are pleased to r¢port that the day ¢0 day running of the business Gorttinues to be expertly l¢d by Kim Jones, supported by an excellent and dedicated team. They are the btIng heart of the C¢ntr¢ and everything you s¢¢ is driven by their hard work and care; w¢ as a Trustee Board are very proud of them. Policies continue to be revi¢w¢d on a rollin8 basis and thanks must go in particular to Jean Lord for keeping these updaled. Thanks also go to David Cook as TreaSUr 8nd Chair of the Finance Committee, who will be sl¢ppin8 down with effect from this AGM, your support and wise counsel over th¢ y¢ars has been invaluabl¢ and you will be kxnly missed. Page 4
Port18head Youth & Community Centre Limited Company limited by guarantee ADlluAI r¢port ofthe dlreetor8 and trustees ..¢olltuJued Treasllrer's Report and Reserves Policy 2022 started in a very unclear position, with th¢ likelihood of further covid restrictions, increasing economic problems and signifi¢ant uncertainty as to how soon and how well the operation of the Centr¢ would recov¢r. We also slarted 2023 in a very uncertain economi position. lar8ely due to the position in Ukraine and then Israel/Palestine. wilh increasing InteSt rates and high inflation, which particularly affe¢t¢d salari¢s and energy ¢05ts. We therefore Started the year with a budgeted deficit of {£89.500) for 2023. subject to obtaining further grants, on which excellent work was again carried out by Kim and Kar¢n. In the event, due to the ex¢¢llent work of the staff, very well manag¢d by Kim, with strong help from Karen on the financial side, against all expectations. we achieved a small deficit of £9.360. This outcome slighily reduces our total reserves to £177k. leaving us in a strong position lo face the continuing difficult economic times in 2024, where we are budgeting for a deficit of £84,000, after known Grants. This will once again be a challenging task as inflation continues io drive up staffing and energy Costs but we remain positive that we can achieve ¢ontinued su¢¢ess in attracting grant funding. The Finance Committee continued to meet quarterly and as nessary to review and monitor the Centre's financial performance. Many thanks to all ¢oncerned and to our accountants Brookin8 Rus¢ and Co Ltd for their continued support and advi¢¢. David Cook Hon Treasurer May 2024 Reserves Policy The overall deficit for the year has amounted to {£1,989), including (£9,360) on unrestricled funds together with a surplus of £7,371 on restricted funds. as slated on page 14 of the a¢¢ounls. Th¢ unrestricted deficit is in ¢ffect our operational loss for the year. with the Accumulated restricted surplus awaiting use on specific activities that have yet to be fully discharged, shown in more detail on page 14. Th¢ Trustees consider the following provision5 necessary in order to show a true posi¢ion of the Youth Centre's on80ing working capital. Usin8 the Reserves Policy agreed in 2021 and updated again in 2023 the allocation of the reserves lo be in¢luded in the annual accounts for 2023 are as follows: Cov¢r for salaries and running Costs for FOUR months for business continuity in the event of a cat&strophic loss of income £120,000 (reduced from 6 months to reflect higher stalfin8 and overhead costs). Cover for the non-insurable ¢05t of usin8 alternative a¢wmmodation should the centre building be out of action £10,000. A fund s¢t aside to cover the future cost of a named project (minibus) £3,000. Page 5
Portish¢ad Youth & Community Centre Limited Company limited by guarantee Annual report of the directors and trustees conilnued This makes a total of £133,000 in the designated fund as staled in note I I, page 15. There is also a sum of £42.350 which is a portion of grants which are evenly spent until the next instalmenl is due or a new application can be made as slated in note 9. page 13. Despite the incredible support from our grant funders, we expect that we will need to rely upon some of our reserves lo continue to operate fully as cosls rise. Energy costs have increased signifi¢anily, our overhead costs have risen and we have further increased our staffing costs in 2023. The latter is partly down io adding new roles as we increase our provision but also to enable us to maintain our posltion as a Living Wage Employer as we deal with double-digit inllation levels. W¢ will aim to Ininimise the use of our reserves as much as possible but it does demonstrate the importan¢e of having a sound financial footing. This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 This report was approved by the board on I Zkn by 2024 and signed on its behalf John W. Power Dlreetorrrrustee Page 6
Independent Exftmlnergs R¢port to the Trustees of Portishead Youth & Community Centre Llmited Company Ilmlted by guArantee I report to the charity tsustees on my examination of the COUntS of the company for the year ended 31, December 2023, which are set out on pages 7 to 14. Respon$ibilitles and basis of report As the e}lly'S trustees of the company (and also its directors for the purpos¢8 of company law) you are responsible for the preparation of the a¢¢ounts in accordanG¢ with the requir¢ment8 of th¢ Companies Act 2006 ('the 2006 Act,). Havjng s&tisfied myself th&t the COUnts of the company are nol required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respe¢t of my exajnination of your charity's accounts &8 carried out under s¢ction 145 of th¢ Cltsrities Act 2011 (the '2011 Act,). In carrying out rlly examination I have followed th¢ Directions given by th¢ Charity Con)mission under seotion 145(5)(b) of thc 2011 Act, Independen¢ examiner's report I have oompleted my examination, I confirni that no matters have ¢ome to my attention in ¢onnection witb the examination give me cause to believe.. - l) accounting re¢ord3 were not k¢pt in re8p¢ct of the company as required by 8eotion 386 of the 2006 Act. or 2) the accounts do not accord with those &c¢ounlin8 re¢ords' or 3) the accounts do not comply with the accounting requir¢m¢nts of section 396 of the 2006 act other than gny requiT¢rnent that the accounts give a 'true and fair, view whicb is not a matter considered as part of an ind¢pendent examination; or 4) the accounts have not been prepared in accordatLce with the methods and principles of the St&t¢m¢nt of Recommended prnctice for accouating and reporting by charities [applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applieable to tho UK and R¢publi¢ of Ireland (FRS 102)]. I have no Concen and have come aarosg no other matt¢rs In connection with the examination to which attention should be dravrn in this report in order to enable & proper understanding of the accounts to be ieached. Signed: . Robert D Orr Brooking Ruse Chartered Acoountants 108 High Street PortisheAd BIUSTOL BS20 6AJ Page 7
Portlshead Youth & Community C¢ntr¢ Limited Company limited by guarantee Stslement of flnAnclal aetlvltle8 (Ineludlng llleome and expendlture Ydeeount) for the ye4r ended 31 December 2023 Unrestrlcted Restrlcted Funds Funds Note5 Total Ineoming resources 237.171 140,468 377,639 Resources expended 246,531 133.097 379.628 Net Incomlng resources (9,360) 7,371 (1,989) Reconcillatlon of funds Funds brou8ht forward 170,662 9,063 179,725 FuDd8 carrled forward io 161,302 16,434 177,736 The statement of financial activities includes all rewgnised gains and losses for the year. All incomin8 resources expended derive from continuing activities. The notes on pages 12 to 16 forni integrgl part of these fiDanclAI statements. Page 8
Portishead Youth & Community Centre Limited Company limlt¢d by guarantee Balance Sbeet as at 31Jt December 2023 Notes 2023 2022 Fixed e¢S Tangible assets 6.146 9,906 Current assets Stocks D¢btors and prepayments Cash at bank and in hand 1,453 13,001 234,763 1.055 10.818 218.493 249,217 77,627 230.366 60,547 CredAtors', amounts fallin8 due within one year et current As$e¢$ 171.590 169.819 TotAI assets le8$ current IIAbllltl¢s 177.736 179.725 Net ass¢t$ 177,736 179,725 Fund8 Restricted funds Unrestricted funds io ii 16,434 133.000 28.302 9.063 130,000 40,662 Designated General 177,736 179.725 The directors, statements required by Sections 475{2) and (3) are shown on the followin8 page which fomis part of this balan¢e sheet. The llot&8 on pages 12 to 16 forni an integral part of these fln&n¢lal ststements. Page 9
Porti$h¢ad Voutb & Community Centre Limited Company limited by guarantee Balance sheet {eontinued) Directors, statements required by Sections 475{2) and {3) for the year ended 31. December 2023 In approving these financial statements as d1CtorS of the company we hebY ¢onfim)'. (a) that for the year stated above the coinpany was entitled to the exemption conferred by Section 477 of the Companies Act 2006; (b) that no notice has been deposited at the regislered office of the company pursuant to Section 476 requestin8 that an audit be conducted for the year ended 3151 December 2023 and (c) tht4t we acknowledge our responsibilities for.. ensuring Ihat the coinpany keeps accounting records which comply with Section 386: and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the finan¢ial year and of ils profit or loss for ihe year then ended in accordance with the requirements of Seclion 393 and whiLh othLrwis¢ comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These accounts have been preparcd in accordaiice with Ili¢ special provision5 of tlie Companies Act 2006 applicable to companies %ubject to Ihc small companies regime and in a¢cordanc¢ with FRS102 SORP. The financial stalements were approved by Ihe board on l >h by 2024 and signed on its khalf John W. Powcr Directorrrrustee RegLgtrAtlon number: 07588073 The notes OD p48es 11 to 16 forni integral part of these fin4nelal $tAtements. Page 10
Portishead Youth & Community Centre Limited CompAlly limited by guarYdn¢ee Notes to the unaudlted financial stat¢m¢nts for the yethr ended 318t December 2023 Accountlng polici Basts of accouDting The financial stat¢ments have been pr¢pared in accordance with Accounting and R¢porting by Charities.. Statement of Recommended Practice applicable to Charities in preparing their ount in accordance with lh¢ Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102) and th¢ Companies Act 2006. 12 Fund accountlng Unrestricled funds are available for us¢ at the discretion of the trust¢¢s in furtherance of the general objectives of the charity. Designated funds are unrestricted fvnds ¢arniarked by thc Management Committee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal, Incoming resour¢¢8 All incomin8 resources are included in the statement of financial activities when the charity is entitled to, and virtually certain to receive, the income and the amount Can be quanlified with reason8bl¢ accuracy. Deferred Income Grant Income received in the year is shown as a liability in the balance sheet. Thi5 IS dep¢nd¢nt where there is a condition attached to th¢ grant that it must be used in a particular way as specified by the grant provider otherwise it must be returned. Rewurces expended Expenditure is recognised on an ac¢Nals basis as 8 liability is incurred. Expenditure includes any VAT which cannot be fully r¢cover¢d and is reported as part of the expenditure to which it relates. Tanglble fixed A8sets and depreciallon D¢pr¢¢iation 15 provided at rates Calculated to write off the Gost l¢ss r¢sidual value of each asset over its expected usethl life, as follows: Property improvements Office equipment & furniture Fixtures. fittin85 & equipment IOO/& straight lin¢ 250/0 reducing balance 25 /0 reducing balance Stock Sto¢k is valued at the lower of cost and net realisable value. Page 11
Portishead Youth & Community Centre Limited CotnpAny limlted by guaralltee Plot to the unaudited financial stslements for the yeAr ended 31 December 2023 ..continued Unre8tri¢t¢d R¢strict¢d futyd8 filnds In¢omlng Mources Total Grant income Donations and Fundraising Food and refreshment income Room hire Pre School Activities Other income Youth Club activities Bank int¢r¢st ceIv&bIe 140,468 140.468 8,330 64,808 55.634 29.042 54,962 21.887 2.508 8.330 64.808 55,634 29.042 54,962 21.887 2,508 237,171 140,468 377,639 Unrestrieted Restriel¢d fullds funds Resour¢¢s ¢xp¢nd¢d TotAI stsff wsts Goods purchased for resale Other direel ¢osts Premises expenses Administrative expenses Depr¢¢iation 185.497 22,937 10.309 17,042 6,786 3,760 104.434 1,113 12.845 5,187 9,518 289.931 24,050 23,354 22,229 16,304 3,760 246,531 133,097 379,628 Net outgoing resources This is stated after ohargin8'. D¢pr¢cialion 2023 2022 3,760 4.443 Staff eost$ Wa8¢s and salaries Social security rosts Pension costs Other cxpenscs 266,512 11,754 5,621 6.044 221.099 7,066 4,682 3,539 289,931 236.386 No employee received emoluments of mor¢ than £60,000. The charity operates the NEST p¢n5ion sch¢m¢ for its ¢mployees. The av¢rage number of employees during the year was as follows.. Youth workers Food and refreshment sal¢s Pre School Administration and support No. 19 19 Page 12
Portishead Youth & Community Celllre Limited Company llmit¢d by guarantee Not¢$ to ibe unaudlted fjnanclal sl4tements ror Ihe year ellded 31#t December 2023 Trnstee remuneration and relaled party transACtions No members of the managemeni committee reived any r¢muneration durin8 the year, nor were any ¢xpenses reimbursed to trustees. ¢ontinued Taxation As a charity, Portishead Youth & Community Centre Limited is exempt from tax on income and gains falling within sections 466 to 493 Corporation Tax Act 2010 (CTA 2010) or section 256 Taxation of Chargeable Gains Act 1992 (TCGA 1992) to the extent that these are applied to its haritable objects. No tax ¢harges have Arisen in th¢ charity. Tangible flxed assets Fixtur¢8 fiitlllg & equlpmellt Property Improvements Total Cost Ai 31. December 2022 Additions 17,114 45,212 62,326 At 31. December 2023 17,114 45,212 62.326 Depreciation At 31. December 2022 Charge for the year 15,402 1,712 37,018 2,048 52,420 3,760 At 3191 December 2023 17.114 39.066 56,180 Net book value At 31* December 2022 1.712 8.194 9,906 Net book value At 31 December 2023 6.146 6,146 Credltors: amounts falling duc within one ycar Trade creditors A¢cruals and deferred incomc.. Ac¢ountants' fees Other creditors D¢f¢rred restricted grant income 2023 2022 2.475 6,675 2,340 30.462 42,350 2.220 21,690 29.962 77,627 60,547 Page 13
PortAshead Youth & Community Centre Limlted Company limited by guarantee Notes to the unaydited financial stat¢ments for Ihe year ended 31Jt D¢c¢mber 2023 Unrestricted Funds io. Funds Restricted Funds Total Funds Ai I" janu 2023 Surplus for the year 170.662 (9,360) 9,063 7.371 179,725 (1.989) At 311t December 2023 161,302 16,434 177.736 R¢strieted funds BAlan blfwd In¢oming Resources Resources expellded Bal*nce fwd The Portishead Nautical Trust Portishe&d Town Council North Somerset Council - Seniors North Somerset Coun¢il - Wami North Som¢rs¢t Council - Mentoring North Somers¢t Council - Skate We5POrt-CYP Reaching Communities Portishead TC - Breakfast Club Portishead TC - Creche Portishead TC - SeniorslTraining Children in Need Waitrose- Senior Groups Waitrose Neighbourly Waitrose- Seniors/Pre-School/Youth Portishead Lions - Holiday Activities Quartet- Holiday Activities Quartet - Seniors Martha's Kitchen 16.666 35,219 1.788 701 4,320 35 1,837 44,179 7,770 1.406 16,666 35,219 1.788 701 4.320 35 1.837 44.179 4,800 1.362 3,016 13,440 315 345 68 3,000 2,970 44 450 3,194 3,466 4,134 315 343 803 12.500 735 3,000 1.500 4.247 5,000 300 140,468 1,500 2,241 5,000 300 16,434 2,006 9.lJ63 133.097 Restricted ndS are to be used only for the following spe¢ifi¢ purposes: Portishead Town Council Children in Need Portishead Lions Quartet N¢ighbourly Martha's Kitchen Family Breakfast Club, Creche and Trainin8 Youth support & mentoring activities for young people Holiday Activities Holiday Activities and Seniors Food for Vulnerable Families SEND Families Pige 14
Porti8he4d Youth & Commulllty Centre Llmlled Company limited by guar4nlee Notes to the ullaudited flllan¢iAI statements for the yr ended 31st December 2023 DesigD¥dted funds BAlaDce ..wntirtued ii. Balance New Expenditure Deslgnation ID Year clf Business contingency 120.000 120,000 Alternative accommodation 10,000 10,000 Minibu5 3,000 -3,000 130.000 3,000 133,000 Having secured a ncw long-terni leHse with Portishead Town Coun¢il in 2022 and in light of rising staffing artd overall costs, it was agreed to move the 'Club refurbishments. reserves to the 'Business ¢ontingcncy' line last year. These costs continue to be under hug¢ pressure in the light of the continued economi uncertainty caused by th¢ war in Ukrain¢. the energy crisi5. in¢reasing interest rat¢s and inflation. As a result, the increased 'Business contin8en¢y' amount of £120,000 now ¢overs 4 months rather than 6 as previously. A small additional reserve of £3000 for the Minibus fund has been added this year. 12. Company limlted by guArAntee The company 1$ limited by guarantee and docs not have share capital.