**REGISTERED COMPANY NUMBER: 04333000 (England and Wales) REGISTERED CHARITY NUMBER: 1147469**
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2024
for
North Huyton Communities Future
Haines Watts Statutory Auditor 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
North Huyton Communities Future
Contents of the Financial Statements for the Year Ended 31 March 2024
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|3|
|Report of the Independent Auditors|4|to|6|
|Statement of Financial Activities||7||
|Balance Sheet||8||
|Notes to the Financial Statements|9|to|16|
|Detailed Statement of Financial Activities||17||
North Huyton Communities Future
## Report of the Trustees
## for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES**
The objectives of the organisation are based around continuing and sustaining the regeneration programme begun under the area's New Deal for Communities programme.
This work includes project management of the major housing regeneration programme, distribution of a small grants programme, management of two community centres, support of two community-based delivery organisations, ownership and management of a small residential property portfolio that houses households mostly nominated by Knowsley's Housing Options Service.
## **ACHIEVEMENT AND PERFORMANCE**
NHCF has continued to support community development in the North Huyton area through its funding of its highly successful Small Change Grants Programme.
In 2023/24 thirteen local community groups were supported through this long-established programme.
In addition, the company continued to support two key community organisations, HIYA and L14, whose community and youth-based programmes are targeted in specific areas of North Huyton.
HIYA operates out of one of NHCF's two community buildings, the Hillside Neighbourhood Centre, while L14 is based in the other, the GATE Community Centre.
Both buildings are now managed through these respective community organisations, who continue to offer free usage of the centres to local community groups and so subsequently host a multitude of clubs and events.
NHCF was successful this year in being awarded nearly £1m from the Youth Investment Fund to build a youth-based facility as an extension to the GATE Community Centre. Work started in November 2023 and is due to be completed in July 2024.
The company owns and lets out twelve properties in the area, which is helping to sustain the company long term.
NHCF continues to project manage the Revive housing development programme and has overseen another rise in properties built and sold this year taking the total to over 1000 under this banner.
## **FINANCIAL REVIEW**
## **Financial position**
The charity made a surplus in the year of £570,463 (2023: deficit of £224,973), with reserves of £2,396,608 (2023: £1,826,145) at the year end.
## **Reserves policy**
No amount of reserves is required to be held as the Charity holds no debt and has no future funding needs.
Page 1
North Huyton Communities Future
for the Year Ended 31 March 2024
## Report of the Trustees
## **FINANCIAL REVIEW**
The organisation continues to be retained as the project managers of the Revive scheme for which it receives an annual fee.
However, its main income stream over the last 10 years has been from its returns on land sold through the Revive programme.
The company has worked with Partners to maximise the land receipts of previous phases which helps sustain the company in the short turn while the final phase is prepared for sale in 2024/25. The organisation has enacted significantly costs reductions in previous years which has enabled the organisation to fully support the grants and centre development, which is where the company's focus will be over the next few years.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
NHCF is a company limited by guarantee and a registered charity. The organisation is run through a Board of seven members, six of which are local nominated residents that represent the six sub estates that make up the designated area in which it operates.
The other member is a local councillor who are nominated from Knowsley Metropolitan Borough Council.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
04333000 (England and Wales)
## **Registered Charity number**
1147469
## **Registered office**
The Gate 600 Princess Drive Huyton Knowsley L14 9NQ
## **Trustees**
P G Lankertis A C Mason K W McGlashan D G Storey B M Thompson F McCann
## **Auditors**
Haines Watts Statutory Auditor 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
Page 2
North Huyton Communities Future
## Report of the Trustees
## for the Year Ended 31 March 2024
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Company Secretary**
Haines Watts Statutory Auditor 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
## **PUBLIC BENEFIT REQUIREMENT**
The trustees of North Huyton Communities Future confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of North Huyton Communities Future for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
....................................................................
K W McGlashan - Trustee
Page 3
Report of the Independent Auditors to the Members of North Huyton Communities Future
## **Opinion**
We have audited the financial statements of North Huyton Communities Future for the year ended 31 March 2024 which comprise Statement of Financial Activities, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
In our opinion the financial statements:
- give a true and fair view of the state of the company's affairs as at 31 March 2024;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Page 4
Report of the Independent Auditors to the Members of North Huyton Communities Future
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 5
Report of the Independent Auditors to the Members of North Huyton Communities Future
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company engagement team included:
- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting estimates.
Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Michael Forshaw FCA (Senior Statutory Auditor) for and on behalf of Haines Watts Statutory Auditor 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
Date: .............................................
Page 6
North Huyton Communities Future
## Statement of Financial Activities
## for the Year Ended 31 March 2024
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**915,929**
Investment income
4
**42,785**
**Total**
**958,714**
**EXPENDITURE ON**
**Charitable activities**
5
General charitable purpose
**369,051**
Governance costs
**19,200**
**Total**
**388,251**
**NET INCOME/(EXPENDITURE)**
**570,463**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**1,826,145**
**TOTAL FUNDS CARRIED FORWARD**
**2,396,608**
**CONTINUING OPERATIONS**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**31.3.24**
**Total**
**funds**
**£**
**915,929**
**42,785**
**958,714**
**369,051**
**19,200**
**388,251**
**570,463**
**1,826,145**
**2,396,608**|31.3.23
Total
funds
£
59,613
59,228
118,841
320,614
23,200
343,814
(224,973)
2,051,118
1,826,145|
|---|---|---|---|
All income and expenditure has arisen from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
The notes form part of these financial statements
Page 7
North Huyton Communities Future
## Balance Sheet
## 31 March 2024
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
**-**
Investment property
11
**2,316,856**
**2,316,856**
**CURRENT ASSETS**
Debtors
12
**43,445**
Cash at bank and in hand
**69,912**
**113,357**
**CREDITORS**
Amounts falling due within one year
13
**(37,229)**
**NET CURRENT ASSETS**
**76,128**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**2,392,984**
**DEFINED BENEFIT PENSION SCHEME**
**OBLIGATIONS**
15
**3,624**
**NET ASSETS**
**2,396,608**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**31.3.24**
**Total**
**funds**
**£**
**-**
**2,316,856**
**2,316,856**
**43,445**
**69,912**
**113,357**
**(37,229)**
**76,128**
**2,392,984**
**3,624**
**2,396,608**
**2,396,608**
**2,396,608**|31.3.23
Total
funds
£
-
1,977,350
1,977,350
43,445
25,670
69,115
(19,229)
49,886
2,027,236
(201,091)
1,826,145
1,826,145
1,826,145|
|---|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
K W McGlashan - Trustee
The notes form part of these financial statements
Page 8
North Huyton Communities Future
Notes to the Financial Statements for the Year Ended 31 March 2024
## **1. COMPANY INFORMATION**
North Huyton Communities Future ("the company" is a private company limited by guarantee incorporated in England and Wales. The company's registered number and registered office can be found on the Report of the Trustees.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **Going concern**
The trustees have considered the likely level of income and expenditure for the foreseeable future. The Trustees are satisfied that the charity can meet its obligations as and when they fall due. accordingly, the going concern basis of preparation is appropriate for these financial statements.
## **Critical accounting judgements and key sources of estimation uncertainty**
## Defined benefit pension scheme obligations
Admission was ceased for the Local Government Pension Scheme on 31 March 2021. The present value of the Local Government Pension Scheme defined benefit scheme depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net costs (income ) for pensions include the discount rate. Any changes in this assumptions disclosed in note 15, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2019 has been used by the actuary in valuing the pension liability at 31 March 2021. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.
## Revaluation of investment properties
The charity carries its investment properties at fair value, with changes in fair value being recognised in the Statement of Financial Activities. The charity uses external professional advisors to determine the fair value. The charity's investment properties were revalued by the trustees at the balance sheet date in reference to the external valuation.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from Government grants comprises grants received under the Local Business Support Scheme. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
continued...
Page 9
North Huyton Communities Future
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **2. ACCOUNTING POLICIES - continued**
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Tangible fixed assets**
Fixed assets acquired for the purpose of management and administration are calculated at cost, and depreciation is provided at the following rates, rates calculated to write off the cost of such assets over their expected useful lives.
Fixtures, fittings and office equipment 20% straight line basis
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The company operates a defined benefit pension scheme.
## **Legal status of the charity**
The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **Financial Instruments**
Basic financial assets, which include other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including other creditors and pension creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debit instrument is measured at the present value of the future payments discounted at a market rate of interest.
continued...
Page 10
North Huyton Communities Future
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**3.**
**DONATIONS AND LEGACIES**
Revive income
**4.**
**INVESTMENT INCOME**
Rents received
**5.**
**CHARITABLE ACTIVITIES COSTS**
General charitable purpose
Governance costs
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration|Direct
Costs
£
**369,051**
**-**
**369,051**|**31.3.24**
**£**
**915,929**
**31.3.24**
**£**
**42,785**
Support
costs
£
**-**
**19,200**
**19,200**
**31.3.24**
**£**
**19,200**||31.3.23
£
59,613|
|---|---|---|---|---|
||||31.3.23
£
59,228
Totals
£
**369,051**
**19,200**|31.3.23
£
59,228|
||||**388,251**||
||||31.3.23
£
23,200||
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 11
North Huyton Communities Future
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**8.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average monthly number of employees
No employees received emoluments in excess of £60,000.
**9.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
59,613
Investment income
59,228
**Total**
118,841
**EXPENDITURE ON**
**Charitable activities**
General charitable purpose
320,614
Governance costs
23,200
**Total**
343,814
**NET INCOME/(EXPENDITURE)**
(224,973)
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,051,118
**TOTAL FUNDS CARRIED FORWARD**
1,826,145|**31.3.24**
**£**
**39,327**
**4,596**
**1,777**
**45,700**
**31.3.24**
**1**
Restricted
fund
£
-
-
-
-
-
-
-
-
-||
|---|---|---|
||||
||||
||||
continued...
Page 12
North Huyton Communities Future
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2023 and 31 March 2024
**DEPRECIATION**
At 1 April 2023 and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**11.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 April 2023
Additions
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Fixtures
and
fittings
£
**32,040**
**32,040**
**-**
-
**£**
**1,977,350**
**339,506**|
|---|---|
||**2,316,856**|
||**2,316,856**|
||1,977,350|
The investment properties were valued on an open market basis in August 2022 by Bryan Gaskill Properties Limited
|**12.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||**31.3.24**|31.3.23|
|||**£**|£|
||Other debtors|**43,445**|43,445|
continued...
Page 13
North Huyton Communities Future
|Notes to the Financial Statements-continued
for the Year Ended 31 March 2024
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Pension creditor
Accrued expenses
**14.**
**MOVEMENT IN FUNDS**
At 1.4.23
£
**Unrestricted funds**
General fund
**1,826,145**
**TOTAL FUNDS**
**1,826,145**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**958,714**
**TOTAL FUNDS**
**958,714**
**Comparatives for movement in funds**
At 1.4.22
£
**Unrestricted funds**
General fund
2,051,118
**TOTAL FUNDS**
2,051,118|**31.3.24**
**£**
**4,985**
**1,244**
**31,000**
**37,229**
Net
movement
in funds
£
**570,463**
**570,463**
Resources
expended
£
**(388,251)**
**(388,251)**
Net
movement
in funds
£
(224,973)
(224,973)|31.3.23
£
4,985
1,244
13,000
19,229
At 31.3.24
£
**2,396,608**|31.3.23
£
4,985
1,244
13,000|
|---|---|---|---|
||||19,229|
|||**2,396,608**||
|||Movement
in funds
£
**570,463**
**570,463**
At 31.3.23
£
1,826,145||
|||1,826,145||
continued...
Page 14
North Huyton Communities Future
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|118,841|(343,814)|(224,973)|
|**TOTAL FUNDS**|118,841|(343,814)|(224,973)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.22
£
2,051,118
2,051,118|Net
movement
in funds
£
345,490
345,490|At 31.3.24
£
2,396,608|
|---|---|---|---|
||||2,396,608|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,077,555|(732,065)|345,490|
|**TOTAL FUNDS**|1,077,555|(732,065)|345,490|
## **15. EMPLOYEE BENEFIT OBLIGATIONS**
The company participated in the Merseyside Pension Fund which is a multi-employer scheme and is part of the Local Government Pension Scheme in England and Wales. This is a defined benefit pension scheme for qualifying employes and the benefits were set in line with Local Government Pension Scheme Regulations. Benefits varied depending on the employee's joining date and length of participation in the Fund.
The company made a contribution of £520,000 and £200,000 under part 64(5) of the LGPS regulations to exit the pension scheme in March 2022 and October 2022 respectively.
The company made a final deficit payment on the 6th June 2023 for the value of £204,715.
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continued...
North Huyton Communities Future
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
## **16. OTHER FINANCIAL COMMITMENTS**
A charge over the land at Seel Road, Huyton is held by Knowsley Metropolitan Borough Council dated 13 December 2012.
A further fixed charge over a bank account is held by Wirral Borough Council dated 9 July 2014.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
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North Huyton Communities Future
## Detailed Statement of Financial Activities for the Year Ended 31 March 2024
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Revive income
**Investment income**
Rents received
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Insurance
Telephone
Postage and stationery
Community participation
Thematics
Community Anchor Grants
Community Building Grants
Other miscellaneous expenses
Legal & Professional fees
**Support costs**
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income/(expenditure)**|31.3.24
£
**915,929**
**42,785**
**958,714**
**39,327**
**4,596**
**1,777**
**14,144**
**3,443**
**2,347**
**14,710**
**101,037**
**84,714**
**55,095**
**725**
**47,136**
**369,051**
**19,200**
**388,251**
**570,463**|31.3.23
£
59,613
59,228
118,841
41,561
4,645
1,033
13,342
3,520
2,274
16,590
40,360
100,000
57,789
2,086
37,414
320,614
23,200
343,814
(224,973)|
|---|---|---|
This page does not form part of the statutory financial statements
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