# **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:
1. accounting records were not kept in respect of the Company 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.
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|
|---|---|---|
||||
Page 16
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.
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