CHARITY NUMBER: 1146873 COMI)ANY IYUMBER: 05431986 NEW'I'OWN & VICI'OIIIA SI)RINGIIOARD LTI) A COMI)ANY LIMI'I'ED BY GUARAN'I'EE ANNUAL IIFI)ORT ANI) FINANCIAL STATCMENTS OR I'HE YEAII ENI)ED 31 MARCFI 2025 NEWTOWN & VICTORIA SPRINGBOARD LTD ANNUAL REI)ORT AND FIINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS PAGE Reference and Administrative Information Annual Report of the 'I'rustees Indcpcndcnt Examiner's Report Statement of l.'inancial Activities BalERFORMANCE Duringy the financial year 2024 12025 the charity continued to navi&?ate risingi operational costs yet cuntinued its ApprentiLeship prog)ramme to support education and skills in the local drea. 'I'he L'enlre was fortunate to reLeive fundingF this year to cover il proportion of energy costs duringi winter, implement activities and provide a Christmas Lunch for the lunch club and support a safe a warm environment for the community. A gyrant from the Hinkley Point C Community fund towards the end of the financial year has meant there will be investment into reducingi energy costs and increasin capacity, this work will be carried out through 2025-2026. Extra funding ensures that the operational maintenance plan is maximiscd and can be more proactive in arcas of the building that need modernisinLY or replacing. Lunch Club and Youth club and-fhe Pantry continue, fundingi for these activities was secured through thc HPC Community fund. PaLie 2 'I'he teniint of the onsite Pham]acy went into liquidation. a further company attempted to rescue however havinLi acted in faith and good trust for a siginificant period the charity started a process to evict. We've been workingy with le&7al teams to attempt to get the best possible outcome for the charity however, leLial fees and unpaid revenue will negatively impact the charity finances. As we move into the new financial year a new tenant is being3 SOUgFht for the premises and revenue will be on track. Overall, the community centre has seen increased usage, particularly in the cafe area; with the planned changyes to diversify capabilities we are positive th¢lt the centre remains a sustainable beating heart within the community. FINANCIAL REVIEW 'I"he company also has a capital reserve fund for costs outside of nonnal operational costs. Duringy 2024 12025 no funds were spent from the capital reserve. 'I'hL company also Lontinues to hold an indepcndLnt rLsL'rve account separatL' to its Irading aL'counts to ¢nsurL it mL'Lts the rL'quiremLnts ot'the charity commission of havingy a financial reserve of approx. 3 months LxpLnditure. "I'he Lomp(Iny seLretary who is the Company Rbo alongiside the Company bookkeeper continue to monitor thL potLntiully taxable suppliL's of. the company on ti rulling 12-month basis to ensure these supplies do not exLLed the HMRC VA'J. thr¢shold which was £90,000 in the year under revicw. 'I'his report has been prepared in (Iccord£illLe with the SttriLtL'd tunds UnrestriLtLd funds 67,023 234,804 29,352 234,223 TOTAL FUNDS 301,827 263,575 'I'he direL'tors' statements required by Sections 475(2) and (3) are shown on the following paLie which forms pijrt of this Balance Sheet. Pa&ye 6 N£WTOWN & VICTORIA SPRINGBOARD LTD ANNUAL REI)ORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 In approving7 these financial statements as directors of the company we hereby confirm: a) that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006; b) that no notice has been deposited at the regiistered office of the company pursuant to Section 476 requcstin&i thilt an audit be L'onducted for the year ended 31 March 2025; and c) that we acknowledgFe our responsibilities for: l) ensuringy that the company keeps accountin&F records which comply with Section 386; and 2) preparingi financial statements which giive a true and fdir view of the stilte of affairs of the company as at the end of thc financial year £u]d of its profit or1055 for thL yL'ar then ended in accordanL'e with the requirements uf SeL'tion 393 and whiL'h otherwise Lomply with the provisions of the Compdnies AL't 2006 relutingi to finanL'iul statements, su far as Èippliciible to ihL' Lompany. 'I'hese accounts have been prepured in accordance with the Stalement of Recommended l)ractice: Accounlin&y and Reportingy by Ch(Irities (revised 2005) and in iiccordRINGBOAIID LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUIYTING I>OLICIES Basis of Accounting 'I"he 14inancial Statements have been prepared in accordance with the historical cost convention, applicable accountingy standÉirds, the Statement of Recommended Practice: "AL'countingi <￿d Reporting by Charities" (liRS 102) and the Ch(Irities ALt 2011. 'I"hL principal acL'ounting poliL'ies which have been adopted on a consistent basis within that convention arL set out below. Incoming Resource InL'omL is rLcoginised in the year in whiLh the Charity is entitled to rL'ceipt and the amount cun bc measured with reasonablL Lertainty. Grants and donations arL' recogynised on a recL'ivable basis. Grants und donations rLcLivLd for the gyeneral purposes of the Charity are L'reditLd to unrestriL'ted funds. 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