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 w￿￿t)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 v*ry' lill1¢ ¥uW frimi niys*Jf. ml wy•zi. I￿4t￿ ot'di• 8roup i•niAtsw # (148,S33) 51&608 501183 FUND8 IJ011 TOTAL FUNDS 518.f 501183 F¢x tho 31st O&otyv 2023 th•rtty •X￿￿￿on from •AIII U￿1￿ 477 01 The m*nb*s 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 (In￿k￿l 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| -9- ## **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 -10- ## **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.** **-11-** ## **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 - . - 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. -5- 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•n￿t 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: