Company registration number: 08399842 Charity registration number: 1152870
Transforming Notts Together
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2023
Transforming Notts Together
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 to 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 to 21 |
Transforming Notts Together
Reference and Administrative Details
| Trustees | Angela Painter |
|---|---|
| Liam O'Boyle | |
| Sam Crawford | |
| Ruth Marlow | |
| Timothy Heeley | |
| Peter Hill | |
| John Chambers | |
| Secretary | Simon Cartwright |
| Charity Registration Number | 1152870 |
| Company Registration Number | 08399842 |
| Registered Office | Jubilee House |
| Westgate | |
| Southwell | |
| NG25 0JH | |
| Independent Examiner | Katrina Proctor |
| Accountants | Community Accounting Plus |
| Units 1 & 2 North West | |
| 41 Talbot Street | |
| Nottingham | |
| NG1 5GL |
Page 1
Transforming Notts Together
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2023.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Angela Painter (appointed 6 February 2024) Rebecca Bowes (resigned 24 February 2023) Liam O'Boyle Sam Crawford Ruth Marlow Timothy Heeley Peter Hill John Chambers Kathryn Osborn (resigned 12 October 2023) Secretary: Simon Cartwright (appointed 25 May 2023) Rebecca Bowes (resigned 24 February 2023)
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 12 February 2013 and most recently amended 11 February 2021. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
The company is a Joint Venture, the members of which are the Church Urban Fund and the Southwell and Nottingham Diocesan Board of Finance.
Recruitment and appointment of trustees
Under the requirements of the Memorandum and Articles of Association the members of the Board are appointed to serve for a period of as near 5 years as possible.
They may be re-appointed for a further period of 5 years. The appointment of Trustees was changed on 11th February 2021 so that the 9 Directors may now be appointed as follows: 3 by the Church Urban Fund, 3 by the Diocesan Board of Finance and the remaining 3 co-opted by the other Trustees.
All members of the Board give their time voluntarily and received no benefits from the charity.
Board members have a wide range of experience and skills from past and current employment, with backgrounds as senior officers in local authorities, the voluntary sector, business and the church.
Organisational structure
During 2023 we retained existing numbers of staff, but dues to financial constraints post Covid and the Cost of Living Crisis, we plan to employ 4 staff and 2 associated staff working for Near Neighbours and Just Finance.
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Transforming Notts Together
Trustees' Report
Objectives and activities
Objects and aims
Our charity’s purposes as set out in the objects contained in the company’s articles of association are:
- To promote the efficiency and effectiveness of Christian based charities in the furtherance of their objectives, mainly but not exclusively, by the provision of information, advice, support and infrastructure provision 2. The relief of financial hardship, either generally or individually, through the provision of grants, goods or services.
The charity’s aims and objectives fall within the various descriptions of charitable purposes in the Charities Act 2006, and, in particular, the relief of those in need by reason of financial hardship or other disadvantage.
Objectives, strategies and activities
Ensuring our work delivers our aims and objectives:
We regularly review our aims, objectives, priorities and activities to help us ensure that we remain focused on our stated purposes. This involves looking at what we have achieved, including the outcomes of our work, in the previous 12 months.
As part of this review, we plan activities for the next 12 months taking into account our successes, future needs and resources. We refer to the Charity Commission’s general guidance on public benefit when undertaking the review and planning future activities.
At each meeting we receive reports on the progress of our activities and monitor how these are achieving our aims and objectives, taking corrective action when necessary.
Our three year strategic action plan:
In April 2021, the trustees and staff undertook a Strategy Review which led to clarification of our vision and 5 key strategic aims:
The vision of Transforming Notts Together (TNT) is to build relationships with churches across Nottinghamshire and inspire, equip and connect them as they help people break free from poverty and isolation arising from injustice and inequality.
We achieve this by:
-
To inspire more churches by bringing to life how injustice and inequality impacts on people.
-
To equip and partner with more churches helping them enhance and develop their skills and resources so they can make a greater difference locally.
-
To connect more churches and Christian organisations through co-ordinating networks and promoting wider collaborative working.
-
To operate in a financially sustainable manner.
-
To build the capacity of TNT.
In 2023, we had a staff and trustees away day, where we explored a theory of change model. As a result of this away day, we have been exploring a renewed focus for TNT based on proactively seeking out openings to both work more closely with local churches and seeking opportunities for co-production with the local voluntary Sector, City and District Councils, Nottinghamshire County Council Social Care and Integrated Care Board’s Place Based Partnerships.
Page 3
Transforming Notts Together
Trustees' Report
Public benefit
The aim of TNT is to build relationships with churches across Nottinghamshire and inspire, equip and connect them as they help people break free from poverty and isolation arising from injustice and inequality. In this way and as demonstrated through this report, our activities deliver public benefit.
We seek to enable Christians, churches and faith based organisations to address poverty directly by offering services and support that benefit the public in the poorest and most marginalised communities in Nottinghamshire, in a way that empowers those people and their communities.
TNT seeks to work with all people of faiths and none. Beneficiaries are not restricted by faith, gender, ethnic origin, disability, age or sexual orientation.
Our goal and approach flow from our charitable purposes - the relief of poverty. Through our partnership with the Diocese of Southwell & Nottingham and Church Urban Fund, we help to grow, equip and resource local responses to poverty. We are also forming strategic partnerships with existing groups and organisations that are already engaged with aspects of poverty that are aligned with our core purpose.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
●We serviced and convened the Christian Action Nottingham (CAN) which has continued to grow and now has 137 members representing 77 organisations. We run sub groups covering: ‘refugees & asylum seekers’, ‘housing & homelessness’, ‘food & community’, ‘children, young people & families’, ‘prisons’, ‘mental health and well-being’, ‘social enterprise and employability’, and ‘modern slavery’.
●Faith Action Networks have also been supported in Mansfield (42 members from 31 organisations) and Ashfield (24 members representing 20 organisations).
●TNT is building partnerships with Community & Voluntary Sector, Nottinghamshire County Council, the District Councils, Nottingham City Council and Integrated Care Board’s Place Based Partnerships to explore opportunities for coproduction.
●Building on a social audit worked on in conjunction with Cinnamon Network and Nottingham City Prayer, mapping Christian compassion projects across Nottingham, we presented the impact of Christian action to One Nottingham Partnership Board.
●There are now 62 Places of Welcome and more in the pipeline for 2024 – with a particular emphasis on growing Places of Welcome in Nottingham City.
●We continued to support 15 Grief Cafes or bereavement support groups and run grief and loss workshops.
●The Come as You Are mental health programme was delivered in 19 churches.
●The Wayfinder project has been established to train volunteers to assist former homeless people with friendship and practical support. Eleven matches between volunteers and clients have been made. Moving forward we plan to operate this through community hubs and a pilot hub was established with The Ark in Gedling. This has also paved the way for working with projects/churches to help them develop as community hubs.
●We delivered a Know Your Church, Know Your Neighbourhood programme in Edwalton as they explored how to engage in an area of new housing in their parish. They discovered some areas of hidden poverty in their neighbourhood and are partnering with a food bank in their area.
●We have continued to support Just Finance to deliver Lifesavers in primary schools in Notts but no longer run the Let's Talk Money (youth budgeting) course.
●We completed a Real Conversations Project (funded as part of Faith New Deal within the Department of Levelling Up Housing and Communities). These conversations were an opportunity for local groups to look at assets within their communities and share suggestions for change with leaders of their communities.
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Transforming Notts Together
Trustees' Report
●We were contracted by the Department of Levelling Up Housing and Communities to deliver a new Near Neighbours programme that brings people together in communities that are religiously and ethnically diverse, so that they can get to know each other better, build relationships of trust, and collaborate together on initiatives that improve the local community they live in. This was launched a cross cultural networking event in December.
●We hosted a Housing Conference in November. Bringing together charities, churches, landlords, local authorities and others. There was a strong commitment from all concerned to establish stronger partnerships and find ways to develop more affordable housing. This has led to the development of some new ideas including the launch of Yes Lets - a not for profit letting agency for affordable housing.
Financial review
Transforming Notts Together (TNT) have been through a period of transition. We have moved out of Covid, when there was a lot of grant funding available for a number of projects. During this time TNT expanded rapidly with a large budget and an increased staff base. The cost of living crisis, reduced grant funding availability and a time of high inflation, has meant that TNT has had to review its operations and change its financial expectations. We have taken the financial management in house and we hope this will help us to better manage cash flow through 2024.
At the moment, our income remains very reliant on grant aid. However, this grant aid is almost 50% less than last year, this is mainly because Wayfinder income was paid upfront in 2022 but not in 2023. It is also due to Diocese of Southwell and Nottingham reducing its core funding by £5K and an inability to fund raise for much of the middle of 2023, as we set up new finance systems.
Expenditure on TNT's unrestricted activities amounted to £47,237 (2022: £32,221) with the majority being spent on Chief Officer and Operations wage costs and increased running costs. £2,439 was set aside for professional support (training) to revise our Theory of Change and refocus the organisation as we move into a new future. We are grateful for core income that has come from the Diocese and Astley Charitable Foundation.
Expenditure on TNT’s restricted activities amounted to £85,549 (2022: £90,939) with again the majority being spent on Development Workers’ wage costs. We continue to run training programmes online and in person, especially around Mental Health and Building Communities (that covers Places of Welcome and Grief support). However, we have also began to establish some partnerships with specific local projects where we can make a difference, offering grant support towards a local advocate for volunteering, and mentoring of project leaders. This work was piloted with The Ark in Gedling.
Restricted funds were provided by the government’s New Deal for Faith Communities, an anonymous funder, the Benefact Trust (Brighter Lives – for Mental Health), the Allen Lane Foundation and the 29th May 1961 charitable fund. We are particularly grateful to Church Urban Fund for helping manage the Wayfinder joint programme which provided the majority of our restricted income.
At the year end, we have £10,179 (2022: £31,045) of unrestricted funds, and £38,619 (2022: £88,470) in restricted fund projects. Additional restricted funds have already been committed and are due in early 2024, and we will reallocate some of the budget classes to ensure a better balance of restricted and unrestricted funds.
Policy on reserves
The Board has reviewed the charity’s requirements for reserves in light of the main risks to the organisation. The most significant risk is considered to be that the core funding from the Diocese is not forthcoming. In such a case, it would take 3 - 6 months to make a bid and hopefully secure replacement funding from a grant awarding body. During this period TNT would have to fund key core costs (employee costs, travel, accommodation etc) from its reserves. Based on this information, the Board determined that the policy should be to retain reserves at a minimum of £10,000.
Page 5
Transforming Notts Together
Trustees' Report
Investment policy and objectives
The Board has approved an investment policy and an investment account has been set up with the CCLA (Churches, Charities and Local Authorities). Funds are also held with the local credit union in order to support their activities and being in harmony with the aims and objectives of the charity.
Plans for future periods
Aims and key objectives for future periods
Inspire more churches by bringing to life how injustice and inequality impacts on people:
●Building on the Wayfinder programme that trains volunteers to walk alongside those who have been or are at risk of homelessness. This programme will evolve to be working specifically with Community Hubs. Where we sign a Service Level Agreement to work alongside a church community project for a year. In addition to The Ark in Gedling, we will look to two new agreements at St Mary Magdalene’s in Sutton in Ashfield and with Break the Chains working with the Woven Group of churches in Nottingham city.
●To develop the existing network of Places of Welcome and expand the overall number of Places of Welcome in the city with a focus on multi-cultural areas.
●We will review our Come as You Are mental health programme and Grief and Loss programme – working with Public Health and other partners to explore a new Health and Well Being programme.
●We will support projects making small grant applications for Near Neighbours targeting these grants by giving priority to outcomes in these areas:
-
Social interaction to develop positive relationships in multi-faith areas and help people from different faiths get to know and understand each other better.
-
Social action that looks to encourage people of different faiths and of no faith to come together for initiatives that improve their local neighbourhood.
Equip and partner with more churches to help them enhance and develop their skills and resources so they can make a greater difference locally:
●To continue to offer the Growing Good and Know Your Church Know Your Community course in partnership with CUF.
●We will come alongside existing Church based Community Hubs to help them develop a more holistic in their approach, and become communities of hope. At the same time to also come alongside emerging hubs to offer support and extend their reach.
●We will offer tailored mentoring and coaching for project leaders in emerging projects in a range of areas including: the Yes Lets CIC - who hope to have their first tenants in place by mid-2024. We are also mentoring potential community hub leaders in Mansfield and Ashfield.
●To run a market place and conference for churches and project leaders to invite their volunteers who run community hubs and places of welcome to attend - helping them to connect with existing community-based services.
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Transforming Notts Together
Trustees' Report
Connect more churches and Christian organisations through coordinating networks and promoting wider collaborative working:
●To continue to develop work on themes through Christian Action Network sub groups and increase the level of partnership working by creating more networks. For example developing an early intervention programme for families and exploring idea of a Nottingham housing investment fund.
●Continue to develop appropriate strategic relationships with Local Authorities and other voluntary sector organisations across the City and County. Especially through the One Nottingham Partnership, Discover Ashfield and connections with the new Levelling Up partnerships in Mansfield and Ashfield.
●Continue to make links with the Integrated Care Board and Place Based Partnerships to explore opportunities for coproduction around health and well-being.
●To continue to be advisors and partner with the City Financial Resilience Partnership, Age Friendly Nottingham and Nottinghamshire Children & Families Strategic Partnership Group.
To operate in a financially sustainable manner:
●To create a new fundraising strategy so resources be better aligned to our strategic outcomes.
●We are looking partner with organisations and find ways to share funding.
●We want to explore how to increase our unrestricted reserves by increasing donations from individuals and partner organisations.
To build the organisational capacity of TNT:
- ●Reviewing and developing our existing policies and procedures.
●Reviewing and reframing our relationship with our founders - Church Urban Fund and the Diocese of Southwell and Nottingham, so we can offer mutual support and help deliver joint programmes.
- ●Staff restructure to reflect our strategic outcomes and new staff training and equipping.
●Increase diversity of trustees and staff.
Page 7
Transforming Notts Together 'I'rustee5' Report Ststement of Rosponsibilitles The iru%te¢s (who arc also the directors tsf TransformÈng Noi1% To?ether for ihc purposcs of companv la) are rc8POll5iblc for prepa¥ints thc trulLes' rLwtsrt and ihe linancial .s¥arements in a¢¢nrdancc Trth applici2ble law a]]d United Kingdom Accountinu Standards Iunilcd Kingdom Generally Accepted Accouniit)g Pta¢ii¢el. intluding FRS 102 -The FiDJaI ReponiJi¥ ststard dppIiLablt ill the L'K Repiiblil L)f lielaALI- Th¢ T¢PVrt accounts hdY¢ betll PTe in aLL4)T£laAL¢ With the prtsvibions tn the Coinwies ALI 21M16 relating to bniall collipatlies. Compny law rcquir¢s the trnsices io Prepare financial ststcments for eacb financial year. Under compaTry law Ihc trLL%ieCS musi not appn)ve Ihc financial %ratLmcnts unlcs% thcv art satisfied tliat ihey give a Irue aiid fair vieiv of the stdle of iiffaipi of lh¢ Lharitsble totnpdinv dnd (jr thL IIILI)n)in¥ resi)urLes ajid appllcstion of rLs{)UTLL. including ils inconiL" and cxpcndilure. of the charilablc coinpany lor thai peDod_ In preparing these financial statemenL> the InlL¢s are rcquired to.. selLYt suitable accounting pvlÈcie5 and apply ihem ionblstently: ob4¢rv¢ the meih(Ml% artd prittcipleg the c.harities SORP: make jlldgenienls and esiin]aie5 thai are reasQl]]able aJ]d prudent: slalt. whcihLI applirablc aLcouniing .siandards. comprising rRs 102 have becu followed. subjcct to any MaILal dcparturcs discloscd and cxplaInL thc financial 5tdiemLIIL%- artd prep3re Ihe rtnantidl %ialemenLS the gain8 concern b&%is it I. inappT()priate to pre%ume thai the ibaritable cotnpany wtll ith b41e&S. The tru4tee% are restM)n%ible for keeping propcr accounting records that di5c105e with rea%onknle a¢curacy at anv iiEne the fiitatiLldl posititsn oi the iharitsble ¢ompaDv dn41 enable them to ensure that the ftnanciaj btdtet]]enib comply with the Cofflp4inies Act ?O(K). Th¢y ¢ir¢ albo rebponsible for SaftLTitLdIfjg the assets. ol. the Lhltabl Lompans and hertie fur tskEn¥ rwotMbl¢ sleps fi)¥ the prei'enliun #nd deteLl111rt of fraud alld oilier inr¥ii147TiIi¢%. Small Compani provision statement Thts rewrt has becn PrcpQd in accordance with thc 5rnall coEnpanies regimc under the Companies Aci 2006. The annual repoff was approvcd by the trustccs of thc charity on . nd signe4 on lis behalf bj.: P¢tCT Hill TTheC Lh(L¢ Pa¥e 8
Tran$formlng Notts Together Independent Examiner's Report to the trustees of Transforniing Notts Together ('the Company,) Indtptmdellt ex%miner's report to the trustees of Transforming Notts Together I'the Company'l I teport 10 the chariry inJ5tees on my CKamJnotion of the accounts of the company for the year ended 31 Dec¢Tnb¢r 2023. ResponsSbllltie$ basis of report As the charity'b tTU5tees of Ihe Compajiy land also its dire¢¢ors for the purpos¢5 of COJDpany lawl you 4re r¢sponsible foi clie preparation of the aceounls in accordance with the r¢qtsiremenls of the Companies Att 2006 I'ih¢ 2006 Aci.). Having Satisfied myself that ihe accounts tsf the Company are not rcquired its be audited under Part 16 of the 2006 Act and arc ¢ligible for independent examinaiion, I r¢port in iespect uf my exAmii)ation of YOUT ¢harity's accounts as cauied out under section 145 of the Charities Act 2011 {'th¢ 2011 Aci,). In carrying out my examll)ation I have followed the Directions given by the Chanty Commission uiid¢T section 145{5llbl of the 2011 Acl. Independent ex*miner'$ $tatement I have completed wny eAamJnation. I confjrni that no mattels have come to my attention in connection with th¢ ¢Kaminatioii giving Tne cause to believe that in any material respe¢t', accouiiling records were not kept in ie5pe¢i of the Company as required by section 386 of the 2006 Act,. or 2. the accounts do rtot ac¢ord with those Tecord5', or 3. th¢ a¢coullls do iiot comply with the accouniin8 requiremenls of S¢¢lion 396 of the 2006 A¢t other than any requi ment rhat the accounts give a 'twe and fairf view which is not a mailer considered as part of ath ind¢pendent cxamination: or 4. tlie accounls. have not been prepared in aLYQTdartce with the methods and principles of th¢ Statement of RecomTnended Practice for a¢Lollnting and Teporting by Charities lapplicable to charities preparing ihcir accounts in accordance with the Finart¢ial Reporting Standard applicable in thc UK and Republic of Ireland IFRS 102}1. I have no ¢oncems 2nd have come across 110 Qiher mailers in connection witll th¢ examination to which aitention should be drawn iii this report in order to enable a proper uttderslanding of the a¢¢ounts io be reached. Katrina Proctor 1710712024 Date.. Pa8e 9
Transforming Notts Together
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Gains/losses on investment assets Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted funds £ 19,273 - 210 19,483 (40,385) (40,385) 857 (20,045) (821) (20,866) 31,045 10,179 |
Restricted funds £ - 41,729 - 41,729 (92,401) (92,401) - (50,672) 821 (49,851) 88,470 38,619 |
Total 2023 £ 19,273 41,729 210 61,212 (132,786) (132,786) 857 (70,717) - (70,717) 119,515 48,798 |
Total 2022 £ 31,332 123,780 14 |
|---|---|---|---|---|
| 155,126 | ||||
| (123,160) | ||||
| (123,160) (1,348) |
||||
| 30,618 - |
||||
| 30,618 88,897 |
||||
| 119,515 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 13.
The notes on pages 13 to 21 form an integral part of these financial statements. Page 10
Transforming Notts Together
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
These are the figures for the previous accounting period and are included for comparative purposes
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Gains/losses on investment assets Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted funds £ 31,332 - 14 31,346 (32,221) (32,221) (1,348) (2,223) (6,000) (8,223) 39,268 31,045 |
Restricted funds £ - 123,780 - 123,780 (90,939) (90,939) - 32,841 6,000 38,841 49,629 88,470 |
Total 2022 £ 31,332 123,780 14 |
|---|---|---|---|
| 155,126 | |||
| (123,160) | |||
| (123,160) (1,348) |
|||
| 30,618 - |
|||
| 30,618 88,897 |
|||
| 119,515 |
The notes on pages 13 to 21 form an integral part of these financial statements. Page 11
Transforming Notts Together
(Registration number: 08399842) Balance Sheet as at 31 December 2023
| Note Fixed assets Investments 18 Current assets Debtors 8 Cash at bank and in hand 9 Creditors: Amounts falling due within one year 10 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds 13 Unrestricted income funds Unrestricted funds Total funds 13 |
2023 £ 11,670 8,594 32,104 40,698 (3,570) 37,128 48,798 38,619 10,179 48,798 |
(As restated) 2022 £ 10,814 7,000 133,571 |
|---|---|---|
| 140,571 (31,870) |
||
| 108,701 | ||
| 119,515 | ||
| 88,470 31,045 |
||
| 119,515 |
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 10 to 21 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by: 17/07/2024
......................................... Peter Hill Trustee
The notes on pages 13 to 21 form an integral part of these financial statements. Page 12
Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Transforming Notts Together meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Exemption from preparing a cash flow statement
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.
2 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals 3 Income from charitable activities Grants & donations Payment for Services 4 Grants & donations The Church Urban Fund The 29th May 1961 Charitable Trust Allen Lane Foundation Southwell & Nottingham Diocese Astley Charitable Foundation Sundry donations |
Unrestricted funds General £ 17,750 1,523 19,273 Restricted funds £ 41,729 - 41,729 Unrestricted funds £ - - - 15,000 2,750 1,523 19,273 |
Total 2023 £ 17,750 1,523 19,273 Total 2023 £ 41,729 - 41,729 Restricted funds £ 34,729 4,000 3,000 - - - 41,729 |
Total 2022 £ 31,050 282 |
|---|---|---|---|
| 31,332 | |||
| Total 2022 £ 123,014 766 |
|||
| 123,780 | |||
| Total £ 34,729 4,000 3,000 15,000 2,750 1,523 |
|||
| 61,002 |
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
5 Investment income
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Total | Total | |||
| General | 2023 | 2022 | |||
| £ | £ | £ | |||
| Interest receivable and similar income; | |||||
| Interest receivable on other loans | 210 | 210 | 14 |
6 Expenditure on charitable activities
| Office & general admin expenses Governance Legal & professional fees Insurance Advertising Activities & events Projects costs: Communications Project costs: Events training Project costs: Provisions & hospitality Project costs: Travel & accommodation Project costs: Grants given Project costs: Sundry Rent Wages, NI & pension Other project expenses Other running costs Contribution towards Core costs |
Unrestricted funds General £ 1,667 740 888 219 145 - 160 2,439 326 5 - 254 2,171 38,208 - - (6,837) 40,385 |
Restricted funds £ 171 - - - 20 25 412 1,177 481 64 4,769 1,041 304 77,100 - - 6,837 92,401 |
Total 2023 £ 1,838 740 888 219 165 25 572 3,616 807 69 4,769 1,295 2,475 115,308 - - - 132,786 |
Total 2022 £ 2,744 - - - - - - - - - - - - 108,136 7,095 5,185 - |
|---|---|---|---|---|
| 123,160 |
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2023 £ 95,705 8,072 11,531 115,308 |
2022 £ 89,753 7,569 10,814 |
|---|---|---|
| 108,136 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| Average number of employees | 2023 No 6 |
2022 No 6 |
|---|---|---|
4 (2022 - 5) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £11,531 (2022 - £10,814).
No employee received emoluments of more than £60,000 during the year.
8 Debtors
| Prepayments Other debtors Debtors includes £7,000 (2022: £7,000) receivable after more than one year. Other debtors |
2023 £ 1,594 7,000 8,594 2023 £ 7,000 |
(As restated) 2022 £ - 7,000 |
|---|---|---|
| 7,000 | ||
| 2022 £ 7,000 |
On 31/08/22 a previous amount held at Credit Union was transferred to a Subordinated Loan. Interest is receivable at 3% per annum and the loan matures on 01/08/27.
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
9 Cash and cash equivalents
| Cash at bank 10 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals 11 Obligations under leases and hire purchase contracts The total value of future minimum lease payments was as follows: Within one year |
2023 £ 32,104 2023 £ 1,930 752 888 3,570 2023 £ (4,800) |
(As restated) 2022 £ 133,571 |
|---|---|---|
| 2022 £ - 31,870 - |
||
| 31,870 | ||
| 2022 £ - |
12 Charity status
The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
13 Funds
| Unrestricted funds General General Restricted funds Previous years restricted funds Building Communities Together Faith Action Networks Mental Health Near Neighbours Nottingham Food Provision Real Conversations Wayfinder Total restricted funds Total funds Unrestricted funds General General Restricted Previous years restricted funds Total funds |
Balance at 1 January 2023 £ 31,045 88,470 - - - - - - - 88,470 119,515 Balance at 1 January 2022 £ 39,268 49,629 88,897 |
Incoming resources £ 19,483 - 7,000 - - - - - 34,729 41,729 61,212 Incoming resources £ 31,346 123,780 155,126 |
Resources expended £ (40,385) - (14,136) (11,630) (5,702) (3,530) (5,345) (8,135) (43,923) (92,401) (132,786) Resources expended £ (32,221) (90,939) (123,160) |
Transfers £ Other recognised gains/(losses) £ Balance at 31 December 2023 £ (821) 857 10,179 (88,470) - - 9,101 - 1,965 33,489 - 21,859 11,755 - 6,053 (3,419) - (6,949) 9,097 - 3,752 10,739 - 2,604 18,529 - 9,335 821 - 38,619 - 857 48,798 Transfers £ Other recognised gains/(losses) £ Balance at 31 December 2022 £ (6,000) (1,348) 31,045 6,000 - 88,470 - (1,348) 119,515 |
Transfers £ Other recognised gains/(losses) £ Balance at 31 December 2023 £ (821) 857 10,179 (88,470) - - 9,101 - 1,965 33,489 - 21,859 11,755 - 6,053 (3,419) - (6,949) 9,097 - 3,752 10,739 - 2,604 18,529 - 9,335 821 - 38,619 - 857 48,798 Transfers £ Other recognised gains/(losses) £ Balance at 31 December 2022 £ (6,000) (1,348) 31,045 6,000 - 88,470 - (1,348) 119,515 |
Balance at 31 December 2023 £ 10,179 - 1,965 21,859 6,053 (6,949) 3,752 2,604 9,335 |
|---|---|---|---|---|---|---|
| 38,619 | ||||||
| 48,798 | ||||||
| 119,515 |
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
The specific purposes for which the funds are to be applied are as follows:
Building Communities Together – various Trust funds for staff salary for Health and Well-being; Faith Action Networks – to fund costs in relation to networking and new project development; Mental Health – to fund courses and workshops to enable Churches to respond better to mental well-being; Near Neighbours – funding to enable different faith groups to work together and access Government grant funding. This fund is continuing with further funding received in the next financial year; Nottingham Food Provision – funding to map and work with on-street food providers to map the food provision; Real Conversations – enabling local communities in our places of welcome to have a say about service provision;
Wayfinder – funding a befriending programme for people formally or vulnerable to homelessness.
The transfers from the Previous year restricted funds to all other funds is to correctly assign the previous years closing balances.
14 Analysis of net assets between funds
Unrestricted
| Unrestricted | |||
|---|---|---|---|
| Fixed asset investments Current assets Current liabilities Total net assets Fixed asset investments Current assets Current liabilities Total net assets |
General £ 11,670 2,079 (3,570) 10,179 Unrestricted General £ 10,814 52,101 (31,870) 31,045 |
Restricted £ - 38,619 - 38,619 Restricted £ - 88,470 - 88,470 |
2023 Total funds £ 11,670 40,698 (3,570) |
| 48,798 | |||
| 2022 Total funds £ 10,814 140,571 (31,870) |
|||
| 119,515 |
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Transforming Notts Together
Notes to the Financial Statements for the Year Ended 31 December 2023
15 Taxation
The charity is a registered charity and is therefore exempt from taxation.
16 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
17 Related party transactions
There were no related party transactions in the year.
18 Fixed asset investments
| 18 Fixed asset investments | ||||
|---|---|---|---|---|
| Other investments Other investments Cost or Valuation At 1 January 2023 Revaluation At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 |
2023 £ 11,670 Unlisted investments £ 10,813 857 |
2022 £ 10,814 |
||
| Total £ 10,813 857 11,670 11,670 10,813 |
||||
| 11,670 | ||||
| 11,670 | ||||
| 10,813 |
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