REGISTERED COMPANY NUMBER: 03694091 (England and Wales) REGISTERED CHARITY NUMBER: 1159246
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
FOR
YES2VENTURES LIMITED
Hodgson & Oldfield 20 Paradise Square Sheffield S1 2DE
YES2VENTURES LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 September 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 19 |
YES2VENTURES LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 30 September 2023
| TRUSTEES | M O Powell |
|---|---|
| P C Davison | |
| S Holdsworth (resigned 30.8.23) | |
| COMPANY SECRETARY | D W B Ware |
| REGISTERED OFFICE | Neepsend House |
| Percy Street | |
| Sheffield | |
| S3 8BT | |
| REGISTERED COMPANY | 03694091 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1159246 |
| NUMBER | |
| INDEPENDENT EXAMINER | Hodgson & Oldfield |
| 20 Paradise Square | |
| Sheffield | |
| S1 2DE |
Page 1
YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091)
REPORT OF THE TRUSTEES for the Year Ended 30 September 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. 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).
OBJECTIVES AND ACTIVITIES
The charitable company's objectives are to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society, in particular by:
A) providing transport facilities for people who have special need of such facilities because they are elderly, poor or disabled people with young children or those living in isolated areas where there are no adequate public transport facilities.
B) providing opportunities to establish and grow businesses to relieve the needs of those people and assist them to integrate into society.
C) providing advice, guidance and training to develop the capacity and skills of the members of the socially and economically disadvantaged community in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.
For the purpose of this clause 'socially excluded' means being excluded from society, or parts of society, as a result of one or more of the following factors:
Unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into society).
Public benefit statement
The trustees have complied with their duty in Section 17(5) of the 2011 Charities Act to have due regard to the guidance published by the Charity Commission on public benefit.
Page 2
YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091)
REPORT OF THE TRUSTEES for the Year Ended 30 September 2023
ACHIEVEMENT AND PERFORMANCE
Yes2Ventures establishes, grows and supports enterprises to create employment that gives hope and purpose to the lives of many people at risk of social exclusion. Over the last financial year, the organisation has continued to develop a travel support enterprise to take more than one hundred and thirty people with learning disabilities and health related issues to where they want to go. Some twenty five support workers, some employed by us and some self-employed, have been engaged in providing this much valued service.
On contract to Sheffield City Council, and funded in part by the European Social Fund, we have continued to prepare disadvantaged job seekers for work and further education. As well as using traditional job finding methods - cv preparation, job search, interview practice, etc - we have run 'Positive Change' workshops to teach skills in arts and crafts, digital and screen printing, woodwork and in non-vocational activities that build confidence and self-esteem.
We closed our bar and gallery space in the city centre in November 2022 because it had drained our resources, but we have transferred much of our activity to our other sites. We have kept trying to develop a microbrewery in leased premises in Attercliffe, but this is proving difficult to make viable.
As we approach our twenty-fifth birthday, our founder Directors have made it clear that it is time for them to retire. They have taken steps towards closing down or transferring our activities to like-minded organisations, so next year will be our last. The Board is grateful to its body of advisers who have helped us meet our objectives throughout the year.
FINANCIAL REVIEW
Incoming resources for the year were similar to the previous year £489,799 (2022: £538,933) and resources expended remained stable at £507,273 (2022: £569,096) leaving a net deficit for the year of £17,474 (2022: net deficit of £30,163). Contract income from Sheffield City Council for the provision of employability services amounted to £104,178 and other grants and donations totalled £7,407.
The balance on restricted funds at the year end date was £3,378 (2022:£nil). The balance on unrestricted funds at the year end date was £21,363 (2022:£42,215) however free reserves were negative at £17,648..
Risk management and reserves
The director trustees have considered the risks posed to the company by competition and by change of government policy. We are satisfied that we are vigilant in monitoring these risks, and that our business development strategy will increase the company's chances of increasing its financial stability.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Yes2Ventures Limited is a not-for-profit charitable company limited by guarantee. It became a registered charity from 18 November 2014. The company was incorporated under its Memorandum and Articles on 12 January 1999 as amended by special resolution on 27 October 2014.
The charity may, by ordinary resolution, appoint a person who is willing to act to be a trustee/director. The minimum number of directors shall be three. At the year end date, the trustees have fallen below the minimum number however the remaining trustees are intending to transfer the activities to other organisations.
TRUSTEES
The trustees shown below have held office during the period from 1 October 2022 to the date of this report.
M O Powell P C Davison
S Holdsworth (resigned 30 August 2023)
Page 3
YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091)
REPORT OF THE TRUSTEES for the Year Ended 30 September 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Yes2Ventures Limited for the purposes of company law) are responsible for preparing the Report of the Trustees 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 those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 February 2024 and signed on its behalf by:
M O Powell - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YES2VENTURES LIMITED
Independent examiner's report to the trustees of Yes2Ventures Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
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 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
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
-
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.
S C Fields
Hodgson & Oldfield 20 Paradise Square Sheffield S1 2DE
29 February 2024
Page 5
YES2VENTURES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 September 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 7,407 Charitable activities 3 Social establishment and support services 376,314 Other income 1,900 Total 385,621 EXPENDITURE ON Charitable activities 4 Social establishment and support services 406,473 NET INCOME/(EXPENDITURE) (20,852) RECONCILIATION OF FUNDS Total funds brought forward 42,215 TOTAL FUNDS CARRIED FORWARD 21,363 |
Restricted funds £ - 104,178 - 104,178 100,800 3,378 - 3,378 |
30.9.23 Total funds £ 7,407 480,492 1,900 489,799 507,273 (17,474) 42,215 24,741 |
30.9.22 Total funds £ 71,025 464,979 2,929 538,933 569,096 (30,163) 72,378 42,215 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091)
BALANCE SHEET 30 September 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 39,011 CURRENT ASSETS Debtors 12 54,392 Cash at bank and in hand 6 54,398 CREDITORS Amounts falling due within one year 13 (72,046) NET CURRENT ASSETS (17,648) TOTAL ASSETS LESS CURRENT LIABILITIES 21,363 NET ASSETS/(LIABILITIES) 21,363 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - 3,378 - 3,378 - 3,378 3,378 3,378 |
30.9.23 Total funds £ 39,011 57,770 6 57,776 (72,046) (14,270) 24,741 24,741 21,363 3,378 24,741 |
30.9.22 Total funds £ 46,960 49,847 3,855 53,702 (58,447) (4,745) 42,215 42,215 42,215 - 42,215 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091)
BALANCE SHEET - continued 30 September 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 February 2024 and were signed on its behalf by:
M O Powell - Trustee
P C Davison - Trustee
The notes form part of these financial statements
Page 8
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 September 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency is the Pound Sterling (£) and monetary amounts in these financial statements are rounded to the nearest £.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from Government and other grants, whether capital or revenue, is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Such income is only deferred when the donor specifies that the grant must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance Motor vehicles - 25% on reducing balance
Assets costing less than £500 are not capitalised.
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
Page 9
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Sheffield City Council Baily Thomas Charitable Trust Castlegate Festival SYCF Other grants Key Fund Yorkshire |
30.9.23 £ 2,417 4,990 7,407 30.9.23 £ - 4,490 - - 500 - 4,990 |
30.9.22 £ 7,146 63,879 |
|---|---|---|
| 71,025 | ||
| 30.9.22 £ 4,311 - 700 7,500 3,368 48,000 |
||
| 63,879 |
continued...
Page 10
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
| 3. INCOME FROM CHARITABLE ACTIVITIES Activity Social establishment and support Support services services Social establishment and support Grants services Social establishment and support Painting sales services Social establishment and support Bar & food sales services Social establishment and support Workshop sales services Grants received, included in the above, are as follows: Sheffield City Council 4. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 5) £ Social establishment and support services 500,664 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Trustees' remuneration etc Staff costs Vehicle leasing Rent & rates Insurance Light, heat & service charge Telephone Printing, post & stationery Marketing & subscriptions Sundries & cleaning Support worker costs Travel expenses Travel support expenses Carried forward |
30.9.23 £ 359,583 104,178 3,104 13,569 58 480,492 30.9.23 £ 104,178 Support costs (see note 6) £ 6,609 30.9.23 £ - 272,772 11,398 30,392 3,106 4,717 1,547 1,102 1,155 1,215 81,689 452 57,844 467,389 |
30.9.22 £ 345,484 76,282 1,864 39,034 2,315 |
|---|---|---|
| 464,979 | ||
| 30.9.22 £ 76,282 |
||
| Totals £ 507,273 |
||
| 30.9.22 £ 6,094 311,894 11,326 40,193 2,690 6,152 1,919 1,189 2,201 2,081 73,230 293 55,309 |
||
| 514,571 |
continued...
Page 11
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
5. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued
| Brought forward Training & workshops Repairs & renewals Consultancy Bar & food purchases Bar consumables & equipment Kitchen consumables & equipment Bad debts Depreciation Loss on sale of assets 6. SUPPORT COSTS Finance £ Social establishment and support services 4,152 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Deficit on disposal of fixed assets Pension costs Independent examination fees Rent |
30.9.23 £ 467,389 6,123 1,033 - 13,644 800 - - 9,251 2,424 500,664 Governance Other costs £ £ 1,357 1,100 30.9.23 £ 9,251 11,398 2,424 3,077 1,100 28,989 |
30.9.22 £ 514,571 14,864 2,958 750 14,293 853 731 909 10,332 797 |
30.9.22 £ 514,571 14,864 2,958 750 14,293 853 731 909 10,332 797 |
|---|---|---|---|
| 561,058 | |||
| Totals £ 6,609 30.9.22 £ 10,333 11,326 797 3,290 1,100 36,104 |
Totals £ 6,609 |
continued...
Page 12
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
| 8. | TRUSTEES' REMUNERATION AND BENEFITS | ||
|---|---|---|---|
| 30.9.23 | 30.9.22 | ||
| £ | £ | ||
| Trustees' salaries | - | 6,094 | |
| Trustees' expenses |
Trustees are reimbursed for reasonable travel and office expenses incurred.
9. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Social establishment & support services No employees received emoluments in excess of £60,000. |
30.9.23 £ 269,695 3,077 272,772 30.9.23 25 |
30.9.22 £ 314,698 3,290 |
30.9.22 £ 314,698 3,290 |
|---|---|---|---|
| 317,988 | |||
| 30.9.22 30 |
The average monthly number of employees calculated on the basis of full time equivalents was 14 (2022: 17).
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,025 48,000 Charitable activities Social establishment and support services 388,697 76,282 Other income 2,929 - Total 414,651 124,282 EXPENDITURE ON Charitable activities Social establishment and support services 444,814 124,282 NET INCOME/(EXPENDITURE) (30,163) - |
Total funds £ 71,025 464,979 2,929 538,933 569,096 (30,163) |
|---|---|
continued...
Page 13
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 72,378 | - | 72,378 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 42,215 | - | 42,215 | |
| 11. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | Motor | |||
| fittings | vehicles | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 October 2022 | 70,022 | 1,600 | 71,622 | |
| Additions | 4,731 | 1,300 | 6,031 | |
| Disposals | (5,723) | (600) | (6,323) | |
| At 30 September 2023 | 69,030 | 2,300 | 71,330 | |
| DEPRECIATION | ||||
| At 1 October 2022 | 24,525 | 137 | 24,662 | |
| Charge for year | 8,935 | 316 | 9,251 | |
| Eliminated on disposal | (1,582) | (12) | (1,594) | |
| At 30 September 2023 | 31,878 | 441 | 32,319 | |
| NET BOOK VALUE | ||||
| At 30 September 2023 | 37,152 | 1,859 | 39,011 | |
| At 30 September 2022 | 45,497 | 1,463 | 46,960 |
All tangible fixed assets are used in direct furtherance of the objectives of the charity.
continued...
Page 14
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
| 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 14) Other loans (see note 14) Trade creditors Social security and other taxes VAT Other creditors Accrued expenses 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Other loans |
30.9.23 £ 52,372 2,020 3,378 57,770 30.9.23 £ 7,480 49,200 3,828 1,902 133 4,959 4,544 72,046 30.9.23 £ 7,480 49,200 56,680 |
30.9.22 £ 47,227 2,620 - |
|---|---|---|
| 49,847 | ||
| 30.9.22 £ 12,247 19,000 3,229 8,912 - 6,762 8,297 |
||
| 58,447 | ||
| 30.9.22 £ 12,247 19,000 |
||
| 31,247 |
Other loans consist of amounts loaned from individuals to assist the charity with cashflow.
Page 15
continued...
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fund Restricted funds Pathways to Success TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated fund Restricted funds Behaviour Change Pathways to Success TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1.10.22 £ 40,310 1,905 42,215 - 42,215 Incoming resources £ 385,621 - 385,621 22,500 81,678 104,178 489,799 At 1.10.21 £ 69,923 2,455 72,378 72,378 |
Net movement At in funds 30.9.23 £ £ (20,471) 19,839 (381) 1,524 (20,852) 21,363 3,378 3,378 (17,474) 24,741 Resources Movement expended in funds £ £ (406,092) (20,471) (381) (381) (406,473) (20,852) (22,500) - (78,300) 3,378 (100,800) 3,378 (507,273) (17,474) Net movement At in funds 30.9.22 £ £ (29,613) 40,310 (550) 1,905 (30,163) 42,215 (30,163) 42,215 |
|---|---|---|
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continued...
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fund Restricted funds Behaviour Change Pathways to Success Key Fund Yorkshire TOTAL FUNDS A current year 12 months and prior year 12 months combined Unrestricted funds General fund Designated fund Restricted funds Pathways to Success TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 414,651 (444,264) (29,613) - (550) (550) 414,651 (444,814) (30,163) 10,253 (10,253) - 66,029 (66,029) - 48,000 (48,000) - 124,282 (124,282) - 538,933 (569,096) (30,163) position is as follows: Net At movement At 1.10.21 in funds 30.9.23 £ £ £ 69,923 (50,084) 19,839 2,455 (931) 1,524 72,378 (51,015) 21,363 - 3,378 3,378 72,378 (47,637) 24,741 |
|---|---|
continued...
Page 17
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 800,272 | (850,356) | (50,084) |
| Designated fund | - | (931) | (931) |
| 800,272 | (851,287) | (51,015) | |
| Restricted funds | |||
| Behaviour Change | 32,753 | (32,753) | - |
| Pathways to Success | 147,707 | (144,329) | 3,378 |
| Key Fund Yorkshire | 48,000 | (48,000) | - |
| 228,460 | (225,082) | 3,378 | |
| TOTAL FUNDS | 1,028,732 | (1,076,369) | (47,637) |
Restricted Funds
These represent monies received by way of grants where the monies have been restricted to a specific purpose by the donor as follows:
-
a Behaviour Change grant from Sheffield City Council (part funded by the European Social Fund). - a Pathways to Success grant from Sheffield City Council (part funded by the European Social Fund) specifically for salary costs.
-
a Key Fund Yorkshire grant specifically for salary costs.
-
a grant to provide consultancy on creating resources.
Unrestricted Funds
These represent monies which are free to be used generally by the charitable company.
Designated Funds - these represent monies where fixed assets have been purchased from a restricted fund but are not restricted assets. As such, the net book value of the assets have been transferred to unrestricted funds and designated as fixed assets to match against future depreciation.
continued...
Page 18
YES2VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2023
16. EMPLOYEE BENEFIT OBLIGATIONS
The charitable company's pension scheme is a defined contribution pension scheme and all contributions paid are charged to the Statement of Financial Activities in the period that they were paid. Contributions paid by the company for the year were £3,077 (2022:£3,290).
17. RELATED PARTY DISCLOSURES
The following loans from related parties were outstanding at the year end date:
| The following loans | from related parties were outstanding at the year end date: | |
|---|---|---|
| £ | ||
| M Powell | Trustee | 22,600 |
| Mrs J Powell | Spouse of M Powell, trustee | 5,888 |
| Mrs P Ware | Spouse of company secretary | 4,333 |
| A Murray | Mother of S Holdsworth, trustee | 6,667 |
| P Davison | Trustee | 5,000 |
18. ULTIMATE CONTROLLING PARTY
The company is controlled by the director trustees.
19. LIABILITY OF MEMBERS
The liability of members is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member, for
1) payment of the charity's debts and liabilities incurred before he, she or it ceases to be a member,
2) payment of the costs, charges and expenses of winding up, and
3) adjustment of the rights of contributories among themselves.
Page 19