Company Registration Number 07445366 Registered Charity Number 1157824
IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT AND ACCOUNTS For the year ending 31 March 2024
IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024
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 31 March 2024.
The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 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
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Iron Guidance Limited Charity registration number 1157824 Company registration number 07445366 Registered office Mowbray House, Brunswick Street, Stockton-On-Tees, TS18 1DR
Trustees
For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.
The Trustees of Iron Guidance during the period and to the date of signing this report are as follows:
Mrs S M Davison Mr M J De Launay Appointed 18 November 2024 Mr M Howard Dr H Madden Appointed 18 November 2024 Ms E Waites Appointed 18 November 2024 Mr D-J Williams Appointed 12 November 2024 Mr E Hall Resigned 11 November 2024 Mr D J Allinson Resigned 19 November 2024 Bankers Nat West plc, 123 High Street, Stockton-on-Tees, Teesside TS18 1NW
Independent Examiner Mr P O’Hara FCA, Chartered Accountant, 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Documents
Iron Guidance is a charitable company limited by guarantee, incorporated on 19 November 2010 and registered as a charity on 14 July 2014.
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.
Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
Charitable Purpose
Iron Guidance’s charitable objects are to develop the aspiration, educational opportunities and ambitions of young people, their families and the wider community throughout the North East of England.
This is achieved by offering bespoke projects to schools, organisations and the community, tailored to meet local need and enhance achievement and life skills.
Structure and Governance
The charity currently has a board of six non-executive Trustees.
The Board meets a minimum of four times per year. Detailed written Board reports and an agenda are prepared by the Chief Executive and circulated in advance of meetings.
The Board delegates to a Chief Executive the day-to-day running of the service and management of the strategic development of the organisation.
Recruitment and Appointment of Board of Trustees
Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the organisation, as well as through a range of advertising channels.
Trustee Induction and Training
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.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Reserves Policy
The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.
As Iron Guidance has no endowment funding and is entirely dependent upon donor funding from year to year which is inevitably subject to fluctuation, the Trustees aim to firstly hold a level of unrestricted Reserves which enables the charity to meet its contractual liabilities as they fall due or which would crystallise if Iron Guidance’s funding were to be withdrawn and/or it were unable to continue operating.
At present, the Trustees estimate that the Unrestricted Reserves required for such purposes would be broadly equivalent to three months’ Salaries & On Costs and would amount to approximately £7,500.
The charity’s Unrestricted Reserves at 31 March 2024 are £(2,269).
Free Reserves, defined as non-designated Unrestricted Reserves minus the value of Tangible Fixed Assets, are £(2,269) (2023: £10,309).
The Trustees are currently taking steps to try and secure funding to meet the reserves policy.
This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.
Key Management Personnel
The Board, who give their time freely - no Trustees received remuneration in the year - consider the Key Management Personnel (KMP) of the charity, to be the Chief Executive, as noted in the Reference and Administration section.
Together with the Board, the 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.
Going Concern
The financial statements have been prepared on a going concern basis which assumes the charity will continue in operational existence for the foreseeable 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.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Grant Making Policy
The charity does not currently engage in grant-making activity.
The Contribution of Volunteers
The charity makes extensive use of volunteers within its productions and to support its activities.
OBJECTIVES AND ACTIVITIES
Aims & Objectives
The charity's principal aims, and the changes or differences it seeks to make through its activities, are to, for the public benefit:
(1) 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:
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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.
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Advancing education.
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Relieving unemployment.
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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) 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) 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.
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
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2024
OBJECTIVES AND ACTIVITIES (Continued)
Public Benefit (Cont.)
The Trustees believe that the charity meets both of the key principles.
Principle 1 – There must be an identifiable benefit, or benefits
The benefits are clearly articulated within the charity’s charitable purpose.
Principle 2 - Benefit must be to the public, or a section of the public
Each element of our work provides benefit to one or more clearly identified sections of the public – in particular, the members of socially- and economically-disadvantaged communities in the Tees Valley.
Iron Guidance’s beneficiaries are therefore entirely appropriate to its aims and the public as a whole benefit from its work. All of these benefits are clear, evidenced and relate directly to Iron Guidance’s aims. In addition, the Trustees do not consider that any significant detriment or harm flows from Iron Guidance’s work.
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.
Risk Management
The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.
Iron Guidance has a risk management strategy in place which comprises:
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an annual review of the strategic risks the charity may face via the business plan
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the establishment of systems and procedures to mitigate those risks identified
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the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place.
The Trustees consider the key risks facing the charity to be not achieving income targets (local authority funding, trusts and foundations, earned income, individual giving).
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2024
ACHIEVEMENTS AND PERFORMANCE
Summary of the main achievements of the charity during the year
In the year to 31 March 2024, the charity:
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Received Holiday Activity Funding (HAF) from both Stockton Council and Middlesbrough Council to deliver free activities for children and a hot meal during the Easter, Summer and Christmas school holidays
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Received the Holiday Activity Fund for Redcar and Cleveland
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Received Funding from the Police and Crime Commissioners Office to provide our ‘Respect Effect’ project at Thornaby Academy
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Delivered food hampers to local families in need funded by the Food Power Network
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Provided each child that attended our HAF provision at Christmas with a hamper
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Provided each family that attended our HAF provision with a winter warmer hamper
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Held our annual fundraising evening.
Financial Review
The out-turn for the year is an unrestricted deficit of £(12,758) (2023: Surplus £6,814). The deficit will leave a balance on Unrestricted Funds at 31 March 2024 of £(2,269).
PLANS FOR FUTURE PERIODS
The Trustees believe that the following opportunities will come to fruition in future trading periods:
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Relaunch Children’s University to schools and the community.
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Increase funding.
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Organise additional fund-raising events.
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Deliver Crucial Crew at Middlesbrough Teesside University for Middlesbrough Primary Schools.
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Continue to provide opportunities to children, young people and the wider community.
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Apply for funding through the Holiday Activity Fund in Stockton.
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Continue to apply for funding to deliver activities and meals during the summer to the Middlesbrough Holiday Activity Fund.
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Apply to Redcar and Cleveland to deliver the Holiday Activity Fund.
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Develop a strategy to engage local businesses to provide funding or opportunities for young people.
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Widen the range of Children’s University Learning Destinations.
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Employ a part time administration assistant.
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Continue to provide families with Essential Goods Hampers.
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Increase the number of Trustees
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2024
RESPONSIBILITIES OF THE TRUSTEES
The Trustees (who are also the Directors of Iron Guidance for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that 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. The Trustees 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.
Signed on behalf of the Trustees
Mrs S M Davison Director/Trustee Company Registration Number 07445366
24 February 2025
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INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF IRON GUIDANCE LIMITED FOR THE YEAR ENDED 31 MARCH 2024
I hereby report to the Trustees of Iron Guidance (Charity Registration Number 1157824) on my examination of the accounts for the year ended 31 March 2024 set out on pages 10 to 21.
Responsibilities and Basis of Report
As the charity’s Trustees (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 the Company 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods or 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 (FRS102)).
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.
Pete O’Hara, FCA, Chartered Accountant Fellow of the Institute of Chartered Accountants in England & Wales 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF
24 February 2025
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Note | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Income | |||||
| Income from Investments | - | - | - | - | |
| Income from Donations & Legacies | 3 | 8,858 | - | 8,858 | 6,155 |
| Income from Charitable Activities | 4 | - | 107,461 | 107,461 | 152,930 |
| Other Income | 5 | 385 | - | 385 | 659 |
| Total Income | 9,243 | 107,461 | 116,704 | 159,744 | |
| Expenditure | |||||
| Expenditure on Raising Funds | 6 | 2,132 | - | 2,132 | - |
| Expenditure on Charitable Activities | 7 | 19,689 | 106,386 | 126,075 | 150,005 |
| Total Expenditure | 21,821 | 106,386 | 128,207 | 150,005 | |
| Net Income/(Expenditure) | (12,578) | 1,075 | (11,503) | 9,739 | |
| Balance brought forward at 1 April | 10,309 | 2,925 | 13,234 | 3,495 | |
| Balance carried forward at 31 | 14 | £(2,269) | £4,000 | £1,731 | £13,234 |
| March |
The notes on pages 12 to 21 form part of the financial statements.
All of the activities of the company are classed as continuing.
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.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible Fixed Assets | 10 | - | - |
| Current Assets | |||
| Debtors | 11 | 5,634 | 2,356 |
| Cash At Bank & In Hand | 10,645 | 21,588 | |
| 16,279 | 23,944 | ||
| Creditors – Amounts Falling Due Within 1 Year | 12 | (14,548) | (10,710) |
| Net Current Assets/(Liabilities) | 1,731 | 13,234 | |
| Total Net Assets | 13 | £1,731 | £13,234 |
| Represented by: | |||
| Unrestricted Reserves | 14 | (2,269) | 10,309 |
| Restricted Reserves | 14 | 4,000 | 2,925 |
| £1,731 | £13,234 |
The notes on pages 12 to 21 form part of the financial statements.
The Trustees are satisfied that for the year ended 31 March 2024 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.
The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006
The Trustees acknowledge their responsibilities for:
(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements were approved and signed by a Member of the Board of Trustees on 24 February 2025.
SS Mate ise
Mrs S M Davison Director/Trustee Company Registration Number 07445366
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies
Basis of Accounting
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.
The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.
Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Taxation Status
Iron Guidance is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
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Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable.
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Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Investment income is included when receivable.
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Income from charitable trading activity is accounted for when earned.
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Other income is accounted for when receivable.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies (Continued)
Operating Leases
The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease.
Tangible Fixed Assets and Depreciation
Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:
IT Equipment - 25% per annum straight line Furniture & Fittings - 25% per annum straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost where there is a material adjustment.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
Designated funds are unrestricted funds earmarked by the trustees for specific purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies (Continued)
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant judgements or estimation uncertainty included within the financial statements.
Pensions
Iron Guidance contributes to a defined contribution pension scheme. Further details can be found in Note 9. For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.
2. Legal Status
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.
3. Income from Donations & Legacies
| Donations - General | Unrestricted Funds £ Restricted Funds £ 2024 £ 2023 £ 8,858 - 8,858 6,155 |
|---|---|
| £8,858 £- £8,858 6,155 |
The 2023 total of £6,155 related wholly to Unrestricted Funds.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
4. Income from Charitable Activities
| Grant Income Catalyst Middlesbrough Council NHS North East & Cumbria Police and Crime Commissioners Office Stockton Borough Council Thirteen Housing Group Billingham Legacy Fund Billingham Town Council |
Unrestricted Funds £ Restricted Funds £ 2024 £ 2023 £ - 37,301 37,301 90,466 - 56,670 56,670 43,031 - 4,000 4,000 - - 2,500 2,500 - - 1,000 1,000 2,000 - 5,000 5,000 - - 490 490 - - 500 500 17,433 |
|---|---|
| £- £107,461 £107,461 152,930 |
The 2023 total of £152,930 was wholly attributable to Restricted Funds.
5. Income – Other
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | |||
| £ | £ | £ | £ | |
| Lotteries & Competitions Income | 385 | - | 385 | 659 |
| £385 | £- | £385 | £659 | |
| The 2023 total of £659 related wholly to Unrestricted Funds. |
6. Expenditure on Raising Funds
| Fundraising Events | Unrestricted Funds £ Restricted Funds £ 2024 £ 2023 £ 2,132 - 2,132 - |
|---|---|
| £2,132 £- £2,132 £- |
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
7. Expenditure on Charitable Activities
| Production/Project Costs Salaries & On Costs Direct Project Costs Support Costs Subscriptions & Memberships Bank Charges Depreciation Insurance Repairs & Renewals ICT & Telephone Costs Print, Postage & Stationery Other Administration & Running Costs Governance Costs Independent Examiner’s Fees Other Professional Costs |
Unrestricted Funds £ Restricted Funds £ Total 2024 £ Total 2023 £ 14,669 15,879 30,548 30,861 - 90,507 90,507 109,814 |
|---|---|
| 14,669 106,386 121,055 140,675 529 - 529 1,991 211 - 211 149 - - - - 147 - 147 310 35 - 35 268 1,246 - 1,246 415 70 - 70 905 321 - 321 237 |
|
| 2,559 - 2,559 4,275 2,317 - 2,317 3,300 144 - 144 1,755 |
|
| 2,461 - 2,461 5,055 |
|
| £19,689 £106,386 £126,075 £150,005 |
| The 2023 total of £150,00 was wholly attributable to Restricted Funds. | |||
|---|---|---|---|
| 8. | Net Income/(Expenditure) | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Independent Examiner’s Fees – current year | 1,800 | 3,300 | |
| Independent Examiner – previous year underprovision | 517 | - | |
| Depreciation of owned Fixed Assets | - | - |
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
9. Staff Costs & Trustees’ Remuneration
| Gross Salary Costs Previous Underpayment Written Off Employer’s National Insurance Employer’s Pension Contributions |
2024 £ 2023 £ 30,000 30,000 (313) - - - 861 861 |
|---|---|
| £30,548 £30,861 |
No employee received remuneration of more than £60,000 during the year (2023 - Nil).
The total employee benefits of the Key Management Personnel of the charity were £30,548 (2023: £30,861)
The average number of staff employed during the year, calculated as full-time equivalents, was as follows:
| was as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| No | No | |
| Management | 1 | 1 |
Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 March 2024 Iron Guidance made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.
Contributions of £8,530 were outstanding at 31 March 2024 (2023: £7,001).
No remuneration has been paid to any Trustees/Directors in the year (2023: £Nil).
No reimbursement of Travel and Subsistence expenses in respect of their attendance at meetings of the charity was made in the year (2023: £Nil).
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Tangible Fixed Assets
| 10. Tangible Fixed Assets |
||
|---|---|---|
| Cost At 1 April 2023 Additions in year Disposals At 31 March 2024 Accumulated Depreciation At 1 April 2023 Charge for year Disposals At 31 March 2024 Net Book Value At 31 March 2024 At 1 April 2023 11. Debtors Other Debtors Trade Debtors Other Taxes & Social Security Costs Prepayments 12. Creditors – Amounts Falling Due Within 1 Year Other Taxes & Social Security Costs Other Creditors Pension Creditor Accruals |
IT & Office Equipment £ Total £ 826 826 - - - - |
|
| 826 826 826 826 - - - - |
||
| 826 826 |
||
| £- £- |
||
| £- £- 2024 £ 2023 £ 2,310 2,310 3,256 - - 46 68 - |
||
| £5,634 £2,356 2024 £ 2023 £ 1,281 - 2,937 - 8,530 7,314 1,800 3,396 |
||
| £14,548 £10,710 |
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Analysis of Net Assets between Funds
| Fixed Assets Debtors Cash at Bank and In Hand Creditors – Amounts Due Within 1 Year 14. Analysis of Charitable Funds Unrestricted Funds Charity General Fund Restricted Funds Billingham Legacy Fund Billingham Town Council Catalyst Middlesbrough Council NHS North East & Cumbria Police and Crime Commissioners Office Stockton Borough Council Thirteen Housing Group Total Restricted Funds Total Funds |
Unrestricted Funds Restricted Funds Total 2024 Total 2023 £ £ £ £ - - - - 5,634 - 5,634 2,356 6,645 4,000 10,645 21,588 (14,548) - (14,548) (10,710) £(2,269) £4,000 £1,731 £13,234 Fund at 1 April 2023 £ Incoming Resources in Year £ Resources Expended in Year £ Fund at 31 March 2024 £ 10,309 9,243 (21,821) (2,269) - 490 (490) - - 500 (500) - 2,925 37,301 (40,226) - - 56,670 (56,670) - - 4,000 - 4,000 - 2,500 (2,500) - - 1,000 (1,000) - - 5,000 (5,000) - |
|---|---|
| 2,925 107,461 (106,386) 4,000 |
|
| £13,234 £116,704 £(128,207) £1,731 |
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Analysis of Charitable Funds (Cont.)
| Name of Restricted Fund | Description, Nature & Purpose |
of the |
|---|---|---|
| Restricted Fund | ||
| Billingham Legacy Fund | To take children on trips during the summer of | |
| 2023 | ||
| Billingham Town Council | To take children on trips during the | summer |
| holidays | ||
| Catalyst | Towards the planning, delivery and management | |
| of holiday programmes for young people | ||
| Middlesbrough Council | Towards a Holiday Activity Fund to | provide |
| multiple projects in Middlesbrough during the | ||
| summer holidays | ||
| NHS North East & Cumbria | To train staff and parents on the new NHS app | |
| to check childhood illnesses and | prevent | |
| unnecessary trips to hospital | ||
| Police and Crime Commissioners Office | Towards the delivery of activities to young people |
|
| in Thornaby during the autumn term. | ||
| Stockton Borough Council | Towards a Food Aid fund – to provide | families |
| with food and essential goods hampers in | ||
| Stockton, Thornaby and Billingham | ||
| Thirteen Housing Group | To run an afterschool project at Thornaby | |
| Academy |
15. Related Party Transactions
In the year to 31 March 2024, the charity made payments for services totalling £16,441 (2023: Nil) to 2 companies, Apollo Arts Limited and Apollo Music Limited, of which one of the charity’s Trustees (until their resignation in November 2024), Mr D J Allinson, is also a Director.
In addition, a further £7,783 (2023: Nil) was paid directly to Mr D J Allinson for other services.
No sums were owed to Apollo Arts Limited, Apollo Music Limited or Mr D J Allinson at 31 March 2024.
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IRON GUIDANCE LIMITED (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
15. Related Party Transactions (Cont.)
£9,873 was also paid to Mr Stephen Sudlow, a Director of Apollo Arts Limited and Apollo Music Limited, companies of which one of the charity’s Trustees (until their resignation in November 2024), Mr D J Allinson, is also a Director.
At 31 March 2024, Victoria Cameron-Hall, the Chief Executive of the Charity, owed the charity £2,310 (2023: £1,997) for an accidental overpayment in 2022.
16. Taxation
The company is a registered charity and no provision is considered necessary for taxation.
17. Financial Commitments
No material financial commitments have been made in respect of future financial periods.
18. Company Limited by Guarantee
The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
There are currently 6 members of the company (2023 - 7 members).
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