Company registration number: 07445366 Charity registration number: 1157824
## IRON GUIDANCE LIMITED
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2022
## **Iron Guidance Limited**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 to 21|
## **Iron Guidance Limited**
## **Reference and Administrative Details**
## **Chief Executive Officer**
Mrs V J Cameron-Hall
**Trustees** Mr M Howard Mr E Hall Mr D J Allinson Mrs S M Davison
**Secretary** Mr D J Allinson **Registered Office** Mowbray House 64 Brunswick Street Stockton on Tees TS18 1DR
The charity is incorporated in England and Wales.
**Company Registration Number** 07445366 **Charity Registration Number** 1157824 **Bankers** NatWest plc 123 High Street Stockton-on-Tees Cleveland TS18 1NW
**Independent Examiner** Simon Brown BA ACA DChA Azets Audit Services Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS
1
## **Iron Guidance Limited**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, the Memorandum and Articles dated 24 January 2014 as amended by special resolution on 27 June 2014, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
A board of four trustee directors governs the charity, and the Chief Executive carries out the day to day running of the service and manages the strategic development of the organisation.
## _**Induction and training of trustees**_
New trustees are inducted by the Chief Executive who briefs them on their legal obligations with regard to company and charity law. External training courses which will facilitate the undertaking of their role are provided as and when appropriate.
## **Objectives and activities**
## _**Objects and aims**_
The principal activities of the business are: -
(1) To act as a resource for young people living in Tees Valley by providing advice and assistance and organising programmes of physical education and other activities as a means of:
• Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. • Advancing education.
• Relieving unemployment.
• Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
(2) To advance the education by such means as the trustees deem fit, in particular but not exclusively by assisting the provision of facilities not required by the local education authority and promoting learning for pleasure by people no longer in full time employment through the continued development of their individual capabilities, competences, skills and understanding in subjects of educational value.
(3) To promote the capacity and skills of the members of socially and economically disadvantaged communities in the Tees Valley in such a way that they are better able to identify and help meet their needs and to participate more fully in society.
The Trustees have had due regard to guidance published by the Charity Commission on public benefit.
## _**Fundraising disclosures**_
The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.
2
## **Iron Guidance Limited**
## **Trustees' Report**
## _**Public benefit**_
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.
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**
• At the 2022-year end, the impact of Covid 19 virus and national lockdowns in the United Kingdom still had a significant impact, on the charity’s activities. Face-to-face delivery started again but parents seemed reluctant for their children to participate initially. Funding is still challenging but we have seen an increase in revenue.
• Covid 19 and Lockdown had a significant negative impact on Children’s University and it is taking a while to get schools and children engaged again.
• Received Holiday activity funding from both Stockton Council and Middlesbrough Council to deliver activities for children and a hot meal during the Easter, Summer and Christmas school holiday’s. During the summer alone we provided 2,400 meals for children from areas of disadvantage.
• Received Holiday Enrichment Program funding from Stockton Council for May and February half term.
• Provided a Makaton workshop for children to learn Makaton sign language songs to perform at the Globe in Stockton.
• Held our first annual fundraising evening.
- Provided families with food hampers at Christmas.
- Joined the Middlesbrough Lottery to increase funding.
## **Financial review**
## _**Policy on reserves**_
The trustees believe that the charity should hold financial reserves because it has no endowment funding and is entirely dependent upon donor funding from year to year which is inevitably subject to fluctuation and it needs to ensure that it can meet its contractual liabilities as they fall due.
In light of the above, the Trustees have established a policy whereby the unrestricted reserves should be no less than three months of wages and salaries expenditure. This would equate to unrestricted reserves of approximately £7,500. The Trustees are currently taking steps to try and secure funding to meet the reserves policy.
At the year end, free reserves were £3,495 (2021: £4,517 in deficit), an increase of £8,012 in the year. The trustees aim to increase this further in the coming year.
3
## **Iron Guidance Limited**
## **Trustees' Report**
## **Key Management Personnel**
The board, who give their time freely and no trustees received remuneration in the year, have considered who the Key Management Personnel (KMP) of the charity, as noted in the Reference and Administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis. The pay of the KMP is reviewed annually and normally increased in accordance with average earnings. The trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast information, ensuring that the charity can afford any proposed increases. The board then agree any uplift to remuneration.
## **Plans for future periods**
While the outlook still remains uncertain the trustees still believe that the following opportunities will come to fruition in future trading periods.
- Deliver one Graduation Ceremony in Middlesbrough and Stockton on Tees.
- Launch new E Learning Passport to the wider community.
- Develop a short film for businesses to request sponsorship.
- Increase the number of schools participating in Children’s University.
- Apply to Awards for All.
- Increase funding.
- Organise additional fund-raising events.
- Deliver Crucial Crew at Middlesbrough Teesside University for Middlesbrough Primary Schools.
- Continue to provide opportunities to children, young people and the wider community.
- Continue to apply for funding through the Holiday Activity Fund in Stockton.
- Continue to apply for funding to deliver activities and meals during the summer to the Middlesbrough Holiday Activity Fund.
- Develop a strategy to engage local businesses to provide funding or opportunities for young people.
- Widen the range of Children’s University Learning Destinations.
- Employ a part time administration assistant.
- Launch the new Activity Passport in 2 new schools.
- Start a Saturday morning club in Stockton for young people.
- Provide families with Winter Warmer Hampers.
## **Going concern**
The financial statements have been prepared on a going concern basis which assumes the charity will continue in operational existence for the forseeable future.
The charity meets its day to day working capital requirements through cash generated from operations.
The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
4
## **Iron Guidance Limited**
## **Trustees' Report**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Iron Guidance Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
## **Reappointment of independent examiner**
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Azets Audit Services as independent examiners of the charity is to be proposed at the forthcoming Annual General Meeting.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr E Hall Trustee
5
## **Iron Guidance Limited**
## **Independent Examiner's Report to the trustees of Iron Guidance Limited ("the Company")**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Iron Guidance Limited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of Iron Guidance Limited as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................
Simon Brown BA ACA DChA Azets Audit Services Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS
Date:.............................
Azets Audit Services is a trading name of Azets Audit Services Limited
6
## **Iron Guidance Limited**
## **Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total Income
**Expenditure on:**
Charitable activities
7
Total Expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**£**
3,870
3,955
274
-
8,099
(87)
(87)
8,012
8,012
(4,517)
3,495|**Restricted**
**£**
48,840
23,144
-
-
71,984
(79,904)
(79,904)
(7,920)
(7,920)
7,920
-|**Total**
**2022**
**£**
52,710
27,099
274
-
80,083
(79,991)
(79,991)
92
92
3,403
3,495|**Total**
**2021**
**£**
18,343
14,629
-
80|
|---|---|---|---|---|
|||||33,052|
|||||(30,344)|
|||||(30,344)|
|||||2,708|
|||||2,708
695|
|||||3,403|
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown in note 17.
7
## **Iron Guidance Limited**
## **Comparative Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Investment income
6
Total income
**Expenditure on:**
Charitable activities
7
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**£**
9,483
5,208
80
14,771
(13,932)
(13,932)
839
839
(5,356)
(4,517)|**Restricted**
**£**
8,860
9,421
-
18,281
(16,412)
(16,412)
1,869
1,869
6,051
7,920|**Total**
**2021**
**£**
18,343
14,629
80|
|---|---|---|---|
||||33,052|
||||(30,344)|
||||(30,344)|
||||2,708|
||||2,708
695|
||||3,403|
8
## **Iron Guidance Limited**
## **(Registration number: 07445366) Balance Sheet as at 31 March 2022**
|**(Registration number: 07445366)**
**Balance Sheet as at 31 March 2022**|||
|---|---|---|
|**Note**
**Current assets**
Debtors
14
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
15
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
17
**Unrestricted income funds**
Unrestricted funds
**Total funds**
17|**2022**
**£**
2,310
12,067
14,377
(10,882)
3,495
-
3,495
3,495|**2021**
**£**
7,798
11,842|
|||19,640
(16,237)|
|||3,403|
|||7,920
(4,517)|
|||3,403|
For the financial year ending 31 March 2022 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.
The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
Mr E Hall Trustee
9
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Mowbray House, 64 Brunswick Street, Stockton on Tees, TS18 1DR.
## **2 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Iron Guidance Limited 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.
The financial statements are prepared in Sterling, which is the functional currency of the entity.
## **Going concern**
The financial statements have been prepared on a going concern basis which assumes the charity will continue in operational existence for the forseeable future.
The charity meets its day to day working capital requirements through cash generated from operations.
The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
## **Exemption from preparing a cash flow statement**
The charity opted to not include a cash flow statement in these financial statements.
10
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Estimation uncertainty and judgements**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.
## Accruals
Accruals are calculated where a service has been provided but the charity has not yet been invoiced.
## Prepayments
Prepayments are calculated where an invoice has been provided in advance of the service taking place.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**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.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Other trading activities**_
Income from trading activities is recognised when goods or services are sold.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **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.
## _**Raising funds**_
Costs of raising funds comprise the costs of activities and consumables.
11
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## _**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.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **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.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Furniture and equipment 25% straight line
## **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.
12
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **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 donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations
Grants, including capital grants;
CJRS grant
Total for 2022
Total for 2021|**Unrestricted**
**funds**
**General**
**£**
679
3,191
3,870
9,483|**Restricted**
**funds**
**£**
48,840
-
48,840
8,860|**Total**
**2022**
**£**
49,519
3,191
52,710
18,343|**Total**
**2021**
**£**
10,809
7,534|
|---|---|---|---|---|
|||||18,343|
||||||
13
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **4 Income from charitable activities**
|**Unrestricted**
**funds**
**General**
**£**
Fee income
3,955
Grant income
-
Total for 2022
3,955
Total for 2021
5,208
**5**
**Income from other trading activities**
**Unrestricted**
**funds**
**General**
**£**
Lotteries and competitions
income
274
Total for 2022
274
Total for 2021
-
**6**
**Investment income**
**Unrestricted**
**funds**
**General**
**£**
Interest receivable and similar
income;
Interest receivable on bank
deposits
-
Total for 2021
80|**Restricted**
**funds**
**£**
-
23,144
23,144
9,421
**Restricted**
**funds**
**£**
-
-
-
**Restricted**
**funds**
**£**
-
-|**Total**
**2022**
**£**
3,955
23,144
27,099
14,629
**Total**
**funds**
**£**
274
274
-
**Total**
**2022**
**£**
-
80|**Total**
**2021**
**£**
5,208
9,421|
|---|---|---|---|
||||14,629|
||||**Total**
**2021**
**£**
-|
||||-|
||||**Total**
**2021**
**£**
80|
|||||
14
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **7 Expenditure on charitable activities**
|**Note**
Project costs
Allocated support
costs
8
Governance costs
8|**Unrestricted**
**General**
**£**
-
87
-
87|**Restricted**
**£**
47,568
26,479
5,857
79,904|**Total**
**2022**
**£**
47,568
26,566
5,857
79,991|**Total**
**2021**
**£**
6,041
18,735
5,568|
|---|---|---|---|---|
|||||30,344|
## **8 Analysis of governance and support costs**
## **Raising funds expenditure**
## **Support costs allocated to charitable activities**
|Wages & salaries
Pension
Insurance
Telephone
Printing, postage and stationary
Sundry expenses
Subscriptions
Bad debts
Bank charges
Repairs and renewals
Governance costs|**Governance**
**costs**
**£**
-
-
-
-
-
-
-
-
-
-
5,857
5,857|**Other**
**support**
**costs**
**£**
20,187
818
621
381
23
354
58
4,000
124
-
-
26,566|**Total**
**2022**
**£**
20,187
818
621
381
23
354
58
4,000
124
-
5,857
32,423|**Total**
**2021**
**£**
11,871
818
421
142
62
464
-
3,900
116
941
5,568
24,303|
|---|---|---|---|---|
15
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Governance costs**
|**Unrestricted**
**funds**
**General**
**£**
Staff costs
Wages and salaries
-
Pension costs
-
Accountancy
-
Other professional fees
-
Total for 2022
-
Total for 2021
5,568
**9**
**Net incoming/outgoing resources**
Net incoming resources for the year include:
Accountancy fees
Independent examination costs|**Restricted**
**funds**
**£**
1,063
43
2,520
2,231
5,857
-|**Total**
**2022**
**£**
1,063
43
2,520
2,231
5,857
5,568
**2022**
**£**
1,560
960|**Total**
**2021**
**£**
625
43
2,400
2,500|
|---|---|---|---|
||||5,568|
||||**2021**
**£**
1,500
900|
## **10 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.
16
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **11 Staff costs**
The aggregate payroll costs were as follows:
|The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Pension costs|**2022**
**£**
21,250
861
22,111|**2021**
**£**
12,496
861|
|||13,357|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows:
|by the charity during the year was as follows:|||||
|---|---|---|---|---|
||**2022**||**2021**||
||**No**||**No**||
|Direct charitable work||1||1|
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £22,111 (2021 - £13,357).
## **12 Taxation**
The charity is 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.
17
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **13 Tangible fixed assets**
|**Cost**
At 1 April 2021
At 31 March 2022
**Depreciation**
At 1 April 2021
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**14 Debtors**
Trade debtors
Accrued income
Other debtors
**15 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end||**Furniture and**
**equipment**
**£**
826
826
826
826
-
-
**2022**
**£**
-
-
2,310
2,310
**2022**
**£**
-
2,485
5,780
2,617
10,882
**2022**
**£**
3,115
-
(3,115)
-|**Furniture and**
**equipment**
**£**
826
826
826
826
-
-
**2022**
**£**
-
-
2,310
2,310
**2022**
**£**
-
2,485
5,780
2,617
10,882
**2022**
**£**
3,115
-
(3,115)
-|**Total**
**£**
826
826
826
826
-
-
**2021**
**£**
7,115
683
-|
|---|---|---|---|---|
|||826|||
|||826|||
|||826|||
|||-|||
|||-|||
|||**2022**
**£**
-
-
2,310
2,310
**2022**
**£**
-
2,485
5,780
2,617
10,882
**2022**
**£**
3,115
-
(3,115)
-|||
|||||7,798|
|||||**2021**
**£**
4,671
18
5,936
5,612|
|||||16,237|
|||||**2021**
**£**
8,541
3,115
(8,541)|
|||||3,115|
18
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **16 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £861 (2021 - £861).
Contributions totalling £5,467 (2021 - £3,928) were payable to the scheme at the end of the year and are included in creditors.
## **17 Funds**
|**Unrestricted funds**
**_General_**
General
**Restricted funds**
Big Local - Youth Club/Choir
Middlesbrough Council
Catalyst
**Total restricted funds**
**Total funds**|**Balance at 1**
**April 2021**
**£**
(4,517)
2,574
-
5,346
7,920
3,403|**Incoming**
**resources**
**£**
8,099
-
23,144
48,840
71,984
80,083|**Resources**
**expended**
**£**
(87)
(2,574)
(23,144)
(54,186)
(79,904)
(79,991)|**Balance at 31**
**March 2022**
**£**
3,495
-
-
-|
|---|---|---|---|---|
|||||-|
|||||3,495|
The specific purposes for which the funds are to be applied are as follows:
Big Local - Youth Club/Choir – to plan, deliver and manage a weekly Youth Cub and Community Choir for people that live in the Roseworth area.
Catalyst - To plan, deliver and manage six weeks of Summer holiday program for young people.
Middlesbrough Council - To provide funding for holiday activities for young people.
19
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **18 Analysis of net assets between funds**
|Net current assets/(liabilities)
Net current assets/(liabilities)
**19 Analysis of net funds**
Cash at bank and in hand
Net funds
Cash at bank and in hand
Net funds||**Unrestricted**
**General**
**£**
3,495
**Unrestricted**
**General**
**£**
(4,517)
**At 1 April**
**2021**
**£**
11,842
11,842
**At 1 April**
**2020**
**£**
12,747
12,747|**Restricted**
**£**
-
**Restricted**
**£**
7,920
**Financing**
**cash flows**
**£**
225
225
**Financing**
**cash flows**
**£**
(905)
(905)|**Total funds**
**at 31 March**
**2022**
**£**
3,495|
|---|---|---|---|---|
|||||**Total funds**
**at 31 March**
**2021**
**£**
3,403|
|||||**At 31 March**
**2022**
**£**
12,067
12,067
**At 31 March**
**2021**
**£**
11,842
11,842|
20
## **Iron Guidance Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **20 Related party transactions**
During the year the charity made the following related party transactions:
## **Apollo Arts Ltd**
(Mr D.J. Allinson, a trustee, is also a director of Apollo Arts Ltd) Apollo Arts Ltd provided services to the Charity of £Nil (2021 - £Nil) during the year. During the year Iron Guidance wrote off purchase invoices of £4,671 (2021: £Nil).. At the balance sheet date the amount due to/from to Apollo Arts Ltd was £Nil (2021 - £4,671).
## **Victoria Cameron-Hall**
(Victoria Cameron-Hall is the chief executive of the Charity) At the balance sheet date the amount due from Victoria Cameron-Hall was £1,997 (2021 - £2,008 due to).
21