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← Newcastle Community Asset Trust

2024-03-31-accounts

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Charity number: 1159644

Company number: 08454215

(England and Wales)

NEWCASTLE COMMUNITY ASSET TRUST

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 March 2024

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NEWCASTLE COMMUNITY ASSET TRUST Contents Page For the year ended 31 March 2024

Report of the Trustees 1 to 7
Independent Examiner's Report to the Trustees 8
Statement of Financial Activities 9
Statement of Financial Position 10
Notes to the Financial Statements 11 to 18
Detailed Statement of Financial Activities 19

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NEWCASTLE COMMUNITY ASSET TRUST

Report of the Trustees

For the year ended 31 March 2024

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).

Chair's report

The role of the Board:

The NCAT Board have the ultimate responsibility for directing the strategic affairs of the Charity, ensuring it is solvent, well-run and delivers the outcomes for the benefit of the public for which it has been set up. The trustees are expected to comply with applicable legislation including company law, charity law, and health and safety regulations.

The role of the Chief Executive:

The operational day to day running of the organisation is delegated to the Chief Executive in accordance with the organisation?s Scheme of Delegation and Financial Regulations.

The Chief Executive is not a member of the Board.

OBJECTIVES AND ACTIVITIES

The objectives of NCAT are, the promotion, for the public benefit generally but with reference to the inhabitants primarily within, but not limited to, Newcastle upon Tyne and the wider North East of the region, of urban or rural regeneration in areas of social deprivation by any of the following means:

Today and for the Future:

Our defined purpose of 'The promotion', for the public benefit generally but with particular reference to the inhabitants of the West End & North West of Newcastle upon Tyne and surrounding areas, of urban regeneration in areas of social and economic deprivation

Objectives and aims

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

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NEWCASTLE COMMUNITY ASSET TRUST Report of the Trustees Continued

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE

The asset transfers of our three community centres in the North West of Newcastle upon Tyne are as follows:

Since these transfers, NCAT has transformed these centres into vibrant community hubs, where local residents play a key role in shaping services and leading decision-making. These centres collectively welcome around 203,476 visits from the local community each year.

Our community hubs are vital in promoting social cohesion, knowledge exchange, skill development, civic engagement, economic growth, and the overall well-being of the community.

Community Businesses and Enterprise:

This year, our community hubs have played a key role in supporting the sustainability and growth of several local community businesses, including:

Additionally, we continue to support the development and progress of Community Interest Companies (CICs), such as:

Services Hosted at Our Hubs:

Our hubs provide a wide range of services and activities for the community, including:

These services and programs show a strong sense of community, providing essential support, education, and enrichment for all ages.

NCAT is thrilled to announce the successful launch of several new services, made possible through the invaluable support of our new Community Development Officer, funded by the National Lottery.

These initiatives include:

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NEWCASTLE COMMUNITY ASSET TRUST

Report of the Trustees Continued For the year ended 31 March 2024

Food Pantry @ Blakelaw: Providing essential food resources for the community.

These services are aimed at empowering and supporting the Blakelaw community in multiple areas.

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NEWCASTLE COMMUNITY ASSET TRUST

Report of the Trustees Continued

For the year ended 31 March 2024

FINANCIAL REVIEW

Statement of the Board on Internal Financial Controls:

NCAT primarily secures funds through bids to statutory sources, charitable trusts, and foundations, while engaging in minimal public fundraising. A significant portion of our income is generated through long-term hires and rentals from our community centres. This income is supplemented by targeted funding from specialist sources for specific services.

We employ a full cost recovery model, allowing us to accurately estimate the true costs of our services and their impact on NCAT's finances. Given the large number of vulnerable and marginalised families and groups we support,we actively seek subsidies through external partnerships.

The Board acknowledges its ultimate responsibility for establishing and maintaining a robust system of internal controls across the organisation and for regularly reviewing their effectiveness. These controls are designed to provide reasonable assurance over the following:

The Chief Executive ensures transparency by using the accounting software Xero, which allows every financial transaction made by the charity to be tracked and reviewed during Board meetings.

It is the Board’s responsibility to establish and maintain internal financial controls aimed at managing, rather than eliminating, the risk of not meeting business objectives. The Board recognises that these controls provide reasonable, though not absolute, assurance against material financial misstatements or losses.

Key elements of our financial system include:

All significant new initiatives, major commitments, and investment projects are subject to formal approval procedures by the Board.

The Board regularly reviews reports from the Chief Executive as well as feedback from internal and external auditors. In addition, the Board consistently assesses the major risks facing NCAT.

This year, after careful consideration of potential risks, the Board and Chief Executive decided not to pursue additional asset transfers of community buildings. Instead, the focus will be on stabilising and strengthening the management of our current centres.

Review of transaction and financial position:

The balance sheet indicates that as at 31st March 2024 the total funds of the group reflects a deficit of £59,636 which is a reducing balance of £16,323 from the previous year 2023 of £75,959

NCAT has once again frozen all rent for our local businesses to help them stay afloat during the ongoing cost of living and fuel crisis. A rent review and potential increase will be implemented starting in April 2025.

NCAT's one off payments for the 2023-24 year are as follows:

Reserves

Reserves Policy

NCAT is still in the process of developing a sustainable reserves policy, as the ongoing energy crisis and persistent food poverty have significantly depleted the charity's reserves. However, we aim to improve our financial position in the upcoming financial year (2023/2024).

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NEWCASTLE COMMUNITY ASSET TRUST Report of the Trustees Continued

For the year ended 31 March 2024

Going concern

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including an annual budget and future cash flows in making their assessment. The charity was extremely hard hit, coming out of the Pandemic COVID -19 then again hit with the Cost of Living and Fuel Poverty Crisis. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the ongoing concern basis in preparing the annual report and accounts.

The Board considers that there have been considerable events since the year end that have had a significant effect on NCAT's financial position and therefore have prepared a Financial Paper - Going Concern.

Going Concern:

The aftereffects of the Covid-19 pandemic and then rolling into cost of living and fuel poverty has presented an unprecedented situation and has resulted in the Charity struggling alongside the community to keep the buildings open. NCAT and the community have a real collective resilience with prices and costs still rising our community market and pantry are even more essential and we are expecting a huge increase in footfall over the winter period and therefore have signed up to be warm 3 warm hubs.

New energy contracts have been agreed for Cowgate and Fawdon starting late summer of 2024 with the reduced tariff on gas we be saving £15,121per annum estimated.

Also, the total refit of lighting within the buildings to LED’s will provide an annual saving of £12,371.

The forecast for 2024/25 is looking positive as we still have £124,987 from the National Lottery over the next 16 months and the new annual energy savings estimated at £28,108.

Chief Executive - going concern section:

The Chief Executive and Board of Directors have assessed the viability of the Charity with respect to the current resources and prospects, its risk appetite and the Charity principal risks and uncertainties. As a result, the Directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Principal risks and uncertainties:

Fuel Poverty & Cost of Living Crisis

Our community partners are continuing to struggle with Cost-of-Living Crisis and Fuel Poverty. Putting less money in people’s pockets and our charity is trying to respond to local need.

Taking into account all of the above, the impact of coming out of the COVID Pandemic and being hit by the Food and Fuel Poverty the Directors and Chief Executive are confident, that the charity will have sufficient funds to continue to meet its liabilities as they fall for at least twelve months from the date of approval of the financial statements and therefore have prepared the financial statements on a going

concern basis.

We have now reshaped the way that the charity works by resetting priorities and liabilities with appropriate tenants' leases. With the decisions we have made over this period, NCAT are now in a very strong position to move forward over the next 12 months, knowing the charity is able to withstand these uncertain economic times.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Governance and Articles of Association:

The Board meets six times per year, with additional meetings scheduled as needed. These meetings are also attended by the Chief Executive and the Community Development Coordinator.

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NEWCASTLE COMMUNITY ASSET TRUST Report of the Trustees Continued

For the year ended 31 March 2024

Recruitment and appointment of trustees

Board Diversity:

NCAT is proud of the diversity of its Board. We recognise that a diverse Board helps us to be more representative of our community and currently we have six vacancies. All current board members have the right mix of skills and experience to progress our priorities and deliver services.

Directors' Conflicts of Interest:

NCAT has procedures for managing conflicts of interest. Should a Board member become aware that they, or a connected party has an interest in an existing or proposed transaction then they should notify the Company Secretary at Muckle LLP, in writing or at the next Board meeting.

Board members have a continued duty to update any changes to these conflicts.

The Company Secretary contacts all Board members on an annual basis to check that their declarations are up to date.

Management Team:

Staff Team:

Our Employees: Communication and Involvement

The Board is committed to actively involving all staff in the development and improvement of every aspect of NCAT's work. We recognise that effective communication is essential to achieving meaningful change.

Each year, staff members are invited to participate in an independent review and play an active role in implementing the resulting recommendations.

Equality and Diversity:

The Board and Chief Executive regularly review the organisation's Equality and Diversity policy. This ensures that our commitment to fostering equality and diversity extends beyond mere legal compliance, reflecting our dedication to creating an inclusive environment for all.

Our focus will be on delivering equality and diversity shaped by the following themes:

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity NEWCASTLE COMMUNITY ASSET TRUST Charity registration number 1159644 Company registration number 08454215 Principal address Blakelaw Neighbourhood Centre Binswood Avenue Newcastle Upon Tyne NE5 3PN

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NEWCASTLE COMMUNITY ASSET TRUST Report of the Trustees Continued For the year ended 31 March 2024

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Tracey Welsh Stuart Dodzo Stephen Barry - Stanners Lisa Johnson (Resigned: 09 June 2023) Irene Teasdale (Appointed: 20 March 2024) Independent examiners Beach Accountants Limited Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ Solicitors Muckle LLP 32 Gallowgate Newcastle upon Tyne NE1 4BF

Approved by the Board of Trustees and signed on its behalf by

............................................................................. [4 A85E0AF67F6A4F3...A 02 December 2024 Tracey Welsh

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NEWCASTLE COMMUNITY ASSET TRUST

Independent Examiners Report to the Trustees

For the year ended 31 March 2024

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity Trustees, who are also directors for the purposes of company law, 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 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 examiners statement

Since the Charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , 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 that in any material respect:

  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 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.

Beach Accountants Limited

Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ

02 December 2024

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NEWCASTLE COMMUNITY ASSET TRUST

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2024

Notes Unrestricted Restricted 2024 2023
funds funds
£ £ £ £
Income and endowments from:
Donations and legacies 2 44,864 66,171 111,035 188,360
Other trading activites 3 196,996 - 196,996 155,749
Total 241,860 66,171 308,031 344,109
Expenditure on:
Raising funds (240,242) (51,466) (291,708) (282,462)
Total (240,242) (51,466) (291,708) (282,462)
Net income 1,618 14,705 16,323 61,647
Reconciliation of funds
Total funds brought forward (75,959) - (75,959) (137,606)
Total funds carried forward (74,341) 14,705 (59,636) (75,959)

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08454215

Registered Number :

NEWCASTLE COMMUNITY ASSET TRUST Statement of Financial Position

As at 31 March 2024

Notes 2024 2023
£ £
Fixed assets
Tangible assets 9 20,100 19,879
20,100 19,879
Current assets
Stocks 10 2,938 3,301
Debtors 11 17,654 13,499
Cash at bank and in hand 17,891 1,403
38,483 18,203
Creditors: amounts falling due within one year 12 (56,084) (46,877)
Net current assets (17,601) (28,674)
Total assets less current liabilities 2,499 (8,795)
Creditors: amounts falling due after more than one year 13 (62,135) (67,164)
Net assets (59,636) (75,959)
The funds of the charity
Restricted income funds 14 14,705 -
Unrestricted income funds 14 (74,341) (75,959)
Total funds (59,636) (75,959)

For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Tracey Welsh Trustee

02 December 2024

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NEWCASTLE COMMUNITY ASSET TRUST Notes to the Financial Statements

For the year ended 31 March 2024

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 2015)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

NEWCASTLE COMMUNITY ASSET TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The trustees consider the charity as a going concern and do not forsee any circumstances which would stop them from operating within 12 months of the approval date of these accounts.

Funds

Fund accounting:

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at the discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specifiied are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

Donated goods, services and facilities

Grants and donations:

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity is entitled 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.

Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met

Donated goods and services:

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

Donated services and facilties are included in the SoFA when received at the value of the gift to the charitiy proovided that teh value of the gift can be measured reliably. Donated services and facillities that are consumed immediately are recognised as an expense under the appropriate heading in the SoFA.

Volunteer help:

The value of volunteer help received is not included in the acocunts but is described i the trustee's annual report.

Charitable activites

Charitable activities:

Expenditure on charitable activities includes the costs of running the centres and other activities undertaken to further the pruposes of the charity and their associated support costs.

Governance and support costs:

Support costs have been allocated between governance cost and other support, Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of teh work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categries on a basis consistent with the use of resouces.

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NEWCASTLE COMMUNITY ASSET TRUST

Notes to the Financial Statements Continued

For the year ended 31 March 2024

Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and depreciated over their estimated useful economic lives on a straight line basis as follows:

Leasehold property improvements : Straight line over life of lease

Office and computer equipment : Straight line over four years

Creditors and liabilitiies

Creditors:

The charity has creditors which are measured at settlement amounts less any trade discounts.

Provisions for liabiliites:

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

2. Income from donations and legacies

Donations received
Grants received
Donated goods and services		 2023
2024
Restricted
funds
Unrestricted
funds
£
£
£
£
2,183
5,512
-
5,512
96,261
105,523
66,171
39,352
89,916
-
-
-
188,360
111,035
66,171
44,864

The 2023 donated goods and services income of £89,916 related to a liability written off by the supplier. This was a one off transaction and no such transaction exists in the 2024 financial year.

3. Income earned from other activities

2024 2023
£ £
Unrestricted funds
Post office remuneration 13,706 14,185
Retail sales 2,815 4,799
Rental income 180,475 136,765
196,996 155,749

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NEWCASTLE COMMUNITY ASSET TRUST

Notes to the Financial Statements Continued

For the year ended 31 March 2024

4. Analysis of support costs

Supplies and services
Office costs
Professional fees
Staff travel, meetings and
events
Governance costs
et income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation of owned fixed assets
Accountancy fees		 2024
£
20,035
115,101
16,246
440
2,097
153,919
2024
£
1,569
2,097		 2023
£
19,790
122,110
13,940
2,160
1,747
159,747
2023
£
1,510
1,747

5. Net income/(expenditure) for the year

6. Staff costs and emoluments

Total staff costs for the year ended 31 March 2024 were:

Salaries and wages
Social security costs
Pension costs		 2024
£
120,852
4,673
1,110
126,635		 2023
£
113,087
4,288
1,017
118,392

No Employees received remuneration above £60,000 in the 2024 financial year, nor did they in the 2023 financial year.

Staff 2024
6
6		 2023
6
6

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NEWCASTLE COMMUNITY ASSET TRUST

Notes to the Financial Statements Continued

For the year ended 31 March 2024

7. Trustee remuneration and related party transactions

Transactions with trustees:

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses:

No Trustee expenses have been incurred in the year.

Transactions (s) with related parties:

The following detail the related party transactions in the reporting period:

During the year the charity paid a partner of the manager of the group amounting to £10,340 (2023: £9,280) for bookkeeping and managerial accounting on a formal commercial basis, at the year end £620 (2023: £810) was still due to this supplier.

8. Comparative for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Other trading activites
Total
Expenditure on:
Raising funds
Total
Net income/expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
159,360
155,749
315,109
(240,273)
(240,273)
74,836
(149,048)
(74,212)		 Restricted
funds
£
29,000
-
29,000
(40,442)
(40,442)
(11,442)
11,442
-		 2023
£
188,360
155,749
344,109
(280,715)
(280,715)
63,394
(137,606)
(74,212)

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NEWCASTLE COMMUNITY ASSET TRUST Notes to the Financial Statements Continued

For the year ended 31 March 2024

9. Tangible fixed assets

Cost or valuation
At 01 April 2023
Additions
At 31 March 2024
Depreciation
At 01 April 2023
Charge for year
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023		 Plant and
Machinery
£
23,385
-
23,385
3,540
1,461
5,001
18,384
19,845		 Computer
Equipment
£
3,209
1,790
4,999
3,209
74
3,283
1,716
-		 Total
£
26,594
1,790
28,384
6,749
1,535
8,284
20,100
19,845

10. Stocks and work in progress

Stocks of raw materials
Stock note:
2024 2023
Opening stock: £3,301 £3.697
Added in the year: £293.80 £612
Distributed in year £-253.80 -£1,008
Closing stock: £2,938 £3,301		 2024
£
2,938
2,938		 2023
£
3,301
3,301

11. Debtors

Amounts due within one year:
Trade debtors
Prepayments and accrued income		 2024
2023
£
£
1,890
311
15,764
13,188
17,654
13,499

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NEWCASTLE COMMUNITY ASSET TRUST

Notes to the Financial Statements Continued

For the year ended 31 March 2024

12. Creditors: amounts falling due within one year

Loans and overdrafts
Trade creditors
Other creditors
Accruals and deferred income
The following liabilities disclosed under creditors falling due within one year are secured by the charity:
Bank loans and overdrafts
Included in other creditors are the following taxes a liabilities:
Corporation tax interest: £94.74		 2024
£
4,916
15,446
11,324
24,398
56,084
4,916
4,916		 2023
£
4,916
22,087
10,901
8,973
46,877
4,916
4,916

PAYE: £11,228.70

Pensions: The assets of the pension scheme offered to employees are held seperately from those of the charity in a independently administered fund.

Corporation tax:

The charity is exempt from tax on income and gains falling with section 505 of the taxes act 1988 or sections 252 of the taxation of chargeable gains act 1992 to the extent that these are applied to its charitable objectives.

It should be noted that the only reason there is a corporation tax liability above is due to the late filing of a tax return which the charity was unaware was needed. The penalty incurred was paid and the residual interest will be paid after the year end.

13. Creditors: amounts falling due after more than one year

2024
£
Loans and overdrafts
29,080
Trade creditors
33,055
62,135
The following liabilities disclosed under creditors falling due after more than one year are secured by the charity:
Bank loans and overdrafts
29,080
29,080		 2023
£
34,109
33,055
67,164
34,109
34,109

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Docusign Envelope ID: 69D42B67-4F37-4E8E-BAC9-710A0FC72405Docusign Envelope ID: B047F3A3-D481-4ACC-8182-075AC7284AB6

NEWCASTLE COMMUNITY ASSET TRUST Notes to the Financial Statements Continued

For the year ended 31 March 2024

14. Movement in funds

Unrestricted Funds

General
General
Unrestricted Funds - Previous year
General
General
Purpose of unrestricted Funds
General
The 'free reserves' of the charity		 Balance at
01/04/2023
£
(75,959)
(75,959)
Balance at
01/04/2022
£
(149,048)
(149,048)		 Incoming
resources
£
241,860
241,860
Incoming
resources
£
315,109
315,109		 Outgoing
resources
£
(240,242)
(240,242)
Outgoing
resources
£
(242,020)
(242,020)		 Balance at
31/03/2024
£
(74,341)
(74,341)
Balance at
31/03/2023
£
(75,959)
(75,959)

Restricted Funds

Big Lottery Community
Development
Restricted Funds - Previous year
Big Lottery Community
Development
Your Homes Newcastle		 Balance at
01/04/2023
£
-
-
Balance at
01/04/2022
£
9,342
2,100
11,442		 Incoming
resources
£
66,171
66,171
Incoming
resources
£
29,000
-
29,000		 Outgoing
resources
£
(51,466)
(51,466)
Outgoing
resources
£
(38,342)
(2,100)
(40,442)		 Balance at
31/03/2024
£
14,705
14,705
Balance at
31/03/2023
£
-
-
-

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Docusign Envelope ID: 69D42B67-4F37-4E8E-BAC9-710A0FC72405Docusign Envelope ID: B047F3A3-D481-4ACC-8182-075AC7284AB6

NEWCASTLE COMMUNITY ASSET TRUST Notes to the Financial Statements Continued

For the year ended 31 March 2024

Purpose of restricted funds

Big Lottery Community Development

Community Development Coordinator salary

Your Homes Newcastle

Set up of NCAT counselling services

15. Analysis of net assets between funds

Tangible fixed Net current Creditors > Net Assets
assets assets / one year
(liabilities)
£ £ £ £
Unrestricted funds
General
General 20,100 (32,306) (62,135) (74,341)
Restricted funds
Big Lottery Community - 14,705 - 14,705
Development
20,100 (17,601) (62,135) (59,636)
Previous year
Tangible fixed Net current Creditors > Net Assets
assets assets / one year
(liabilities)
£ £ £ £
Unrestricted funds
General
General 19,879 (28,674) (67,164) (75,959)
Restricted funds
19,879 (28,674) (67,164) (75,959)

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Docusign Envelope ID: 69D42B67-4F37-4E8E-BAC9-710A0FC72405Docusign Envelope ID: B047F3A3-D481-4ACC-8182-075AC7284AB6

NEWCASTLE COMMUNITY ASSET TRUST Detailed Statement of Financial Activities

For the year ended 31 March 2024

INCOME AND ENDOWMENT
Donations and legacies
Donations
Grants receivable
Donated goods and services
Other trading activities
Post office remuneration
Income from Retail sales
Income from Rental income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Donations
Project expenses
SUPPORT COSTS
Supplies and services
Supplies and services
Office costs
Office costs
Professional fees
Professional fees
Staff travel, meetings and events
Staff travel, meetings and events
Governance costs
Governance costs
Total resources expended
Net Income		 £
2024
5,512
105,523
-
111,035
13,706
2,815
180,475
196,996
308,031
(1,569)
(136,220)
(137,789)
(20,035)
(20,035)
(115,101)
(115,101)
(16,246)
(16,246)
(440)
(440)
(2,097)
(2,097)
(291,708)
16,323		 £
2023
2,183
96,261
89,916
188,360
14,185
4,799
136,765
155,749
344,109
(1,510)
(121,205)
(122,715)
(19,790)
(19,790)
(122,110)
(122,110)
(13,940)
(13,940)
(2,160)
(2,160)
(1,747)
(1,747)
(282,462)
61,647

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This page does not form part of the statutory financial statements