Trustee Annual Report 2023
2023 saw the charity setting up new systems and ready to take on more clients and develop services in the aftermath of the pandemic.
The charity relocated to Trinity Community Hub in the centre of Clitheroe. This put the service at the centre of the community, and enabled greater connectivity with complimentary services.
This was the second year of the Lottery-funded project, and also saw an increase in donations from local organisations to fund the delivery of service.
The charity was able to restructure the staffing, and appointed a dedicated customer service officer to liaise directly with clients.
The charity also redesigned its website with new referral forms designed to direct only suitable clients into the service.
There were Trustee changes, as Dorothy Shears & Philip Mileham resigned on 8.2.23, Gillian Darbyshire resigned on 28.3.23, and Lisa Edwards was appointed to the role of chairperson on 8.2.23 with Ian Browm appointed as trustee on 8.2.23.
Company registration number 09382059 (England and Wales)
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
Ridehalgh Limited Chartered Accountants Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
COMPANY INFORMATION
Directors
Mr G Darbyshire Ms HM Evans Ms G Harding Dr SE Owen Ms D Shears Mr IF Brown (Appointed 3 April 2023) Ms LM Edwards (Appointed 3 April 2023)
Company number 09382059 Registered office Trinity Hub Wesleyan Row Parson Lane Clitheroe BB7 2JY Accountants Ridehalgh Limited Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
CONTENTS
| Page | |
|---|---|
| Directors' report | 1 |
| Accountants' report | 2 |
| Income and expenditure account | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 6 |
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
DIRECTORS' REPORT FOR THE YEAR ENDED 31 JANUARY 2024
The directors present their annual report and financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company continued to be that of a registered charity (charity number 1161015) and was established to fulfil the following obligation:- To promote social inclusion for the public benefit of the people of Lancashire and North Yorkshire.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr G Darbyshire Ms HM Evans Ms G Harding Mr P Mileham (Resigned 4 April 2023) Dr SE Owen Ms D Shears Mr IF Brown (Appointed 3 April 2023) Ms LM Edwards (Appointed 3 April 2023)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Ms LM Edwards Director
22 October 2024
- 1 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FOUNDATION FOR RIBBLE VALLEY FAMILIES FOR THE YEAR ENDED 31 JANUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Foundation for Ribble Valley Families for the year ended 31 January 2024 which comprise the income and expenditure account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of The Foundation for Ribble Valley Families, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Foundation for Ribble Valley Families and state those matters that we have agreed to state to the board of directors of The Foundation for Ribble Valley Families, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Foundation for Ribble Valley Families and its board of directors as a body, for our work or for this report.
It is your duty to ensure that The Foundation for Ribble Valley Families has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Foundation for Ribble Valley Families. You consider that The Foundation for Ribble Valley Families is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Foundation for Ribble Valley Families. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ridehalgh Limited Chartered Accountants Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
22 October 2024
- 2 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Gross surplus | 73,695 | 68,577 |
| Administrative expenses | (64,242) | (61,789) |
| Surplus before taxation | 9,453 | 6,788 |
| Tax on surplus | - | - |
| Surplus for the financial year | 9,453 | 6,788 |
The income and expenditure account has been prepared on the basis that all operations are continuing operations.
- 3 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
BALANCE SHEET
AS AT 31 JANUARY 2024
| 31 January 2024 31 March 2023 Notes £ £ £ Current assets Cash at bank and in hand 54,042 43,948 Creditors: amounts falling due within one year (3,225) (1,382) Net current assets 50,817 Creditors: amounts falling due after more than one year 1,202 Net assets 52,019 Reserves Income and expenditure account 52,019 Members' funds 52,019 |
£ 42,566 - |
|---|---|
| 42,566 | |
| 42,566 | |
| 42,566 |
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Ms LM Edwards Director
Company registration number 09382059 (England and Wales)
- 4 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
1 Accounting policies
Company information
The Foundation for Ribble Valley Families is a private company limited by guarantee incorporated in England and Wales. The registered office is Trinity Hub, Wesleyan Row, Parson Lane, Clitheroe, BB7 2JY.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
- 5 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4 Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.5 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Employees
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | 3 | 3 |
3 Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
- 6 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2024
| Income Donations Grants Cost of sales Purchases and other direct costs Protective clothing Total cost of sales Gross surplus Employment costs Wages and salaries Employer nic Therapeutic life coaching and training Staff pension costs defined contribution Establishment costs Rent re licences and other General administrative expenses Legal and professional fees Accountancy Insurances Printing and stationery Advertising Telecommunications Sundry expenses Operating surplus |
2024 £ £ 14,225 59,585 73,810 115 (115) 73,695 35,380 1,528 13,621 1,143 (51,672) 6,129 (6,129) 287 1,176 274 1,445 2,304 72 883 (6,441) 9,453 |
2023 £ £ 13,426 57,046 70,472 1,895 (1,895) 68,577 31,159 - 18,153 491 (49,803) 6,589 (6,589) 422 1,440 274 2,293 - 241 727 (5,397) 6,788 |
|---|---|---|
Company registration number 09382059 (England and Wales)
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
Ridehalgh Limited Chartered Accountants Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
COMPANY INFORMATION
Directors
Mr G Darbyshire Ms HM Evans Ms G Harding Dr SE Owen Ms D Shears Mr IF Brown (Appointed 3 April 2023) Ms LM Edwards (Appointed 3 April 2023)
Company number 09382059 Registered office Trinity Hub Wesleyan Row Parson Lane Clitheroe BB7 2JY Accountants Ridehalgh Limited Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
CONTENTS
| Page | |
|---|---|
| Directors' report | 1 |
| Accountants' report | 2 |
| Income and expenditure account | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 6 |
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
DIRECTORS' REPORT FOR THE YEAR ENDED 31 JANUARY 2024
The directors present their annual report and financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company continued to be that of a registered charity (charity number 1161015) and was established to fulfil the following obligation:- To promote social inclusion for the public benefit of the people of Lancashire and North Yorkshire.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr G Darbyshire Ms HM Evans Ms G Harding Mr P Mileham (Resigned 4 April 2023) Dr SE Owen Ms D Shears Mr IF Brown (Appointed 3 April 2023) Ms LM Edwards (Appointed 3 April 2023)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Ms LM Edwards Director
22 October 2024
- 1 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FOUNDATION FOR RIBBLE VALLEY FAMILIES FOR THE YEAR ENDED 31 JANUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Foundation for Ribble Valley Families for the year ended 31 January 2024 which comprise the income and expenditure account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of The Foundation for Ribble Valley Families, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Foundation for Ribble Valley Families and state those matters that we have agreed to state to the board of directors of The Foundation for Ribble Valley Families, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Foundation for Ribble Valley Families and its board of directors as a body, for our work or for this report.
It is your duty to ensure that The Foundation for Ribble Valley Families has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Foundation for Ribble Valley Families. You consider that The Foundation for Ribble Valley Families is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Foundation for Ribble Valley Families. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ridehalgh Limited Chartered Accountants Guardian House 42 Preston New Road Blackburn Lancashire BB2 6AH
22 October 2024
- 2 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Gross surplus | 73,695 | 68,577 |
| Administrative expenses | (64,242) | (61,789) |
| Surplus before taxation | 9,453 | 6,788 |
| Tax on surplus | - | - |
| Surplus for the financial year | 9,453 | 6,788 |
The income and expenditure account has been prepared on the basis that all operations are continuing operations.
- 3 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
BALANCE SHEET
AS AT 31 JANUARY 2024
| 31 January 2024 31 March 2023 Notes £ £ £ Current assets Cash at bank and in hand 54,042 43,948 Creditors: amounts falling due within one year (3,225) (1,382) Net current assets 50,817 Creditors: amounts falling due after more than one year 1,202 Net assets 52,019 Reserves Income and expenditure account 52,019 Members' funds 52,019 |
£ 42,566 - |
|---|---|
| 42,566 | |
| 42,566 | |
| 42,566 |
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Ms LM Edwards Director
Company registration number 09382059 (England and Wales)
- 4 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
1 Accounting policies
Company information
The Foundation for Ribble Valley Families is a private company limited by guarantee incorporated in England and Wales. The registered office is Trinity Hub, Wesleyan Row, Parson Lane, Clitheroe, BB7 2JY.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
- 5 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4 Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.5 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Employees
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | 3 | 3 |
3 Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
- 6 -
THE FOUNDATION FOR RIBBLE VALLEY FAMILIES
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2024
| Income Donations Grants Cost of sales Purchases and other direct costs Protective clothing Total cost of sales Gross surplus Employment costs Wages and salaries Employer nic Therapeutic life coaching and training Staff pension costs defined contribution Establishment costs Rent re licences and other General administrative expenses Legal and professional fees Accountancy Insurances Printing and stationery Advertising Telecommunications Sundry expenses Operating surplus |
2024 £ £ 14,225 59,585 73,810 115 (115) 73,695 35,380 1,528 13,621 1,143 (51,672) 6,129 (6,129) 287 1,176 274 1,445 2,304 72 883 (6,441) 9,453 |
2023 £ £ 13,426 57,046 70,472 1,895 (1,895) 68,577 31,159 - 18,153 491 (49,803) 6,589 (6,589) 422 1,440 274 2,293 - 241 727 (5,397) 6,788 |
|---|---|---|