HIGH FLYERS (SOUTH sfAFFg LIMrrED FINANCIAL REVIEW The StsteThwrt of F[al ActivIti SIM net incwiirwJ rgstxrn for thè year of f 56, ( leavkng total lunds eaffied ltyWa at the WMJ of the yetr of £ ffi8.Eo¢. This relth has been prep¥ed In acLwkn wllh Ihe prnvlsions applicable to A8gistered Office: Pegas Ho 17 Eldw Grove wt)ourn6, by ol thè TrLtstees WV5 OEN r E Baker Dat•:
igh Flyens rs.. ) I I IS0311 i? 1mrtsj L:uvttm¥ Irt Nm ry022- 31 (k12023 the foT mAn ' ¢%. but thLS &7uaUy Advc oFwiuMit}, lff lT newly crta¢d dopuuei lo VILO 8IVQI lh ly. Thith vry' lill1¢ ¥uW frimi niysJf. ml wy•zi. I4t ot'di• 8roup i•niAtsw #<urv. On¢ ofHi¢h Ply¢rn h iticthty well the the of the fix¢a aub whtth nm¥ P"nday. ThLq p)( giYe$ L)ui M'ix- b skill Ihtv Ènd&wiY io prn2dt eld(dy. di%1)11 WKi the senenl publi¢ 8rfs th iiiak¢ ULeir c¥Kt¢r I'hc thITmcmb•r hrtI thb i¥ £cvwlWI), kh)kliw fi)r ¥r¢rtlvt ¥id futi wY fLV dlrectlon Tilb j(bVt&l In¢11 wthLn tljts hrlii xlttr thom I Jn¢mb&YK r¢(111 ol, th&r ability i0rIbute m their w#y. ufo Wlihin Iht ?rwp tticlude labElin8 Stock barL'LMle l¢all&s. filming tromrtiollali'ide&li s1 thc ptthlic, llie iNefyl lo I)Ypd thi$ veFiliwc m thts it WJCLLYW y¢r th• wlwl• p•rt vJw• dl ¥•U mombm 10¢41 vnue imo i)i¢Lo• wtrn ld lo funds foi Ihe dumiy. Even th18h we LkiJKrt gthdisc our sr(w Ive h•T ts Jr&¥Te yjw w)1¢ tojoln Ds thall we Lxn xconvThid4T¢. Staff Eliri1.r Turtn% luw w)d m 8Pitè ot" d1¢ lis¢ in wo are mwM¥m8 ln•. Matt 7ty& mefflb•rn ar• saf& h4wy, ¥Thl th 1 Shella Baker U4h Tr"lyll
HIGH FLYERS (SOUTH STAFFS) LIMITED COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT
YEAR ENDED 31ST OCTOBER 2023
The trustees, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31st October 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the charity during the period were as follows:
Mrs S Baker Mr C Baker Mrs S Jones Mrs C Davies Mrs R Phillips Mrs V Taylor Mr I Watton Mr E Baker Mrs D Weaver Mrs K Watton
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The company was incorporated on 10th October 2012 as a private company limited By guarantee and not having a share capital under the Companies Act 1985. It is Governed by its Memorandum and Articles of Association, and operated on a non-profit making basis. It is registered as a charity with the Charity Commission with registered number 1150518.
In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Trustees
The Articles of Association provide that there should not be fewer than two trustees and no maximum number, who are the directors of the company for the purposes of company law. At each annual general meeting one third of the trustees retire by rotation but are eligible for re-election.
The methods adopted for the recruitment and appointment of new trustees are to invite Individuals to apply to the board who then consider each application and appoint new trustees.
The trustees meet every four months and are responsible for managing the affairs and funds of the charity in such manner as they consider most beneficial for achieving its objects.
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HIGH FLYERS (SOIUTH STAFFS) LTD COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
| YEAR ENDED 31ST OCTOBER 2023 | TOTAL FUNDS | TOTAL FUNDS |
|---|---|---|
| 2023 | 2022 | |
| £’s | £’s | |
| INCOMING RESOURCES | ||
| Incoming resources from charitable activities | 851,130 | 765,420 |
| _ | _ | |
| TOTAL INCOMING RESOURCES | 851,130 | 765,420 |
| _ | _ | |
| RESOURCES EXPENDED | ||
| Charitable activities | (834,705) | (672,050) |
| _ | _ | |
| TOTAL RESOURCES EXPENDED | (834,705) | (672,050) |
| NET INCOMING RESOURCES FOR THE YEAR | 16,425 | 93,370 |
| RECONCILIATION OF FUNDS | ||
| Total Funds brought forward | 502,183 | 408,813 |
| __ | _ | |
| TOTAL FUNDS CARRIED FORWARD | 518,608 | 502,183 |
| ======= | ====== |
The statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All the above amounts relate to continuing activities.
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HIGH FLYERS (SOUTh STAFFS) LTD COMPANY UMITED BY GUARAKfEE BALANCE SHEEr YEAR ENDED 318T OCTOBER 2023 FIXED ASSET5 Tan9rt)lé Assets 2023 £'s 323.200 2tr22 CURRENT ASSETS Debtors Cojh at Bank and In Iwid 76,734 2ts,179 74,307 253,385 345.913 327.6g2 CREDfTOR&. AnNxmt falling duo witrdn ono year (15.136 (13.376) NEf CURRENT ASSET3 314R18 TOTAL ASSEfs LESS CURRENT LIABIUTIES 650.716 CREDITOR&. Arrthxlt fplllng duo after frnre than onè yeor. {135.389> (148,S33) 51&608 501183 FUND8 IJ011 TOTAL FUNDS 518.f 501183 F¢x tho 31st O&otyv 2023 th•rtty •Xon from •AIII U1 477 01 The mnbs have rKrt ryired the d)arfty to otthi an Mjtht of its e(tr for t yw In qLWtth n accorOw(* with 8e¢JI1 476: The acknowlvdg¢ Ihek lor c4%nplyry wllh the Df Ih the smdl CWi09 thj wrth (Inkl reFxxtr19 E BAKER....
HIGH FLYERS (SOUTH STAFFS) LTD COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 2023
1. ACCOUNTING POLICIES : Basis of accounting:
The financial statements have been prepared under the historical cost convention and in accordance with the financial reporting standard for smaller Entities (effective April 2008), and the requirements of the Statement of recommended practice Accounting & Reporting by Charities issued in March 2005 (SORP 2005).
FIXED ASSSETS:
All fixed assets are initially recorded at cost.
Depreciation:
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor Vehicle - 20% per annum straight line
2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £’s | £’s |
£’s | |
| Fees | 826,069 | 826,069 |
721,487 |
| Donations/Fund Raising |
24,408 | 24,408 | 43,933 |
3. COST OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £’s | £’s | £’s | |
| Social Work Activities | 834,705 | 834,705 | 672,050 |
4. COST OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £’s | £’s | £’s | |
| Social Work Activities | 834,705 | 834,705 |
672,050 |
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HIGH FLYERS (SOUTH STAFFS) LIMITED COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS. YEAR ENDED 31ST OCTOBER 2023
5. NET INCOMING RESOURCES FOR THE YEAR
| This is stated after charging: | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| Depreciation | 13,200 | 12,800 | |
| 6. STAFF COSTS AND EMOLUMENTS | |||
| Total staf costs were as follows: | |||
| £ | £ | ||
| Wages & Salaries | 564,890 | 456,860 | |
| Social security costs | 81,032 | 83,976 | |
| __ | ____ | ||
| 645,922 | 540,836 | ||
| ======== | ========= | ||
| Particulars of employees: | |||
| The average number of employees during the year, calculated on the basis of full | time equivalents, | ||
| was as follows: | |||
| 2023 | 2022 | ||
| Number of administrative staf | 39 | 35 | |
| No employee received remuneration of more than £60,000 | during the year. | ||
| 7. TANGIBLE FIXED ASSETS | |||
| **Land & Buildings ** | Motor Vehicle |
Total | |
| £ | £ |
£ | |
| COST b/fwd |
300,000 | 86,584 |
386,584 |
| Additions | - | _ | _ |
| Disposals |
__ | __ |
___ |
| At 31st October 2023 |
300,000 | 86,584 |
386,584 |
| ============ | ============ | ======== | |
| DEPRECIATION B/Fwd | 50,184 | 50,184 | |
| Disposals | - | - |
|
| Charge for the year | 13,200 | 13,200 | |
| _______ |
_____ | ||
| At 31st October 2022 | 63,384 |
63,384 | |
| ============ | ========== |
NET BOOK VALUE At 31st October 2023 £323,200 At 31st October 2022 £336,400
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HIGH FLYERS (SOUTH STAFFS) LTD COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST OCTOBER 2023
| 8. DEBTORS | 2023 2022 | |
|---|---|---|
| Trade debtors | £’s £’s | |
| 76,734 74,307 | ||
| _ ______ | ||
| 76,734 74,307 | ||
| ====== ====== | ||
| 9. CREDITORS: Amounts falling due within | £’s £’s | |
| one year | ||
| PAYE/WAGES | 13,936 9,447 | |
| Accruals | 1,200 3,929 | |
| __ ____ | ||
| 15,136 13,376 | ||
| ===== ====== | ||
| 10. CREDITORS: Amounts falling due after more | ||
| than one year | ||
| Mortgage | 135,369 148,533 | |
| Loan | - | |
| __ _ | ||
| 135,369 148,533 | ||
| ======= ======= | ||
| 11. UNRESTRICTED INCOME FUNDS | ||
| Balance at | Income Balance | |
| 1st November 2022 | Resources. 31st October 2023 | |
| £’s | £’s £’s | |
| 502,183 | 16,425 518,608 | |
| 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||
| Tangible | Net Current Total | |
| Fixed Assets | Assets | |
| £’s | £’s £’s | |
| Unrestricted Funds | 323,200 | 330,777 653,977 |
13. COMPANY LIMITED BY GUARANTEE
The company is registered as a private company limited by guarantee and not having a share capital and accordingly the liability of the members is limited.
Every member undertakes to contribute to the assets of the company in the event of it being wound up such amount as may be required not exceeding one pound.
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HIGH FLYERS (SOUTH STAFFS) LIMITED COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HIGH FLYERS (SOUTH STAFFS) LIMITED.
YEAR ENDED 31ST OCTOBER 2023
I report on the accounts of the charity for the year ended 31st October 2023 which are set out on pages 7 to 11.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
The trustees (who are also directors of High Flyers (South Staffs) Ltd, for the purpose of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011, and that independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
.
-
Examine the accounts under section 145 of the 2011 Act
-
.
-
To follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5) (b) of 2011 Act and
-
.
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To state whether particular matters have come to my attention
BASIS OF INDEPENDENT EXAMINERS REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in accounts, 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 present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
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HIGH FLYEAS (SOUTH STAFFS) UMrrED COMPANY UMrrED BY GUAAANTEE INDEPENDeKr EXAMINER'S REpowf TO THE TRLKSTEES OF HIQH FLYER8 ISOUTh 8TAFFS> LIMfrED. IContlN•d YEAR ENDED 31ST OCTOBER 2023 INDepeNDENT EXAMINERS STATEMENT In connection with ry examh)atlw no mattw ha5 come to my attention: 111 whlGh glves mo reasonable cau80 to bdlovè thai rB8P8Ct the requirwrnnl& To keep attwntlng records In aocordanco wlth 8eCtlon 386 01 the Companies Aet 2( ar)d To prnpare accounts whlGh accord wtth tho accountlng rKoros comply with the accounting rnquyements of S•ctI 396 01 Ih•Companles Act 2WO and wlth tho moth(xls and Fxlnciples of the Stat•nt of RoGomended Pr&tice: AccMting orKI Peportty Ctwkn. have not boe mtr, or To whleh. h ry oplnbon. should be drawn In order lo enablo a proper undttstsndk of accounts r&qch8d. Alan J. Taylor 38 Wadlow Drlv• Shlfnal Shropshlre. TF11 goF. ,OJ.ftr Oato: