REGISTERED CHARITY NUMBER: 1161113
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Nailsworth Youth Community Enterprise
Nailsworth Youth Community Enterprise
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 5 |
| Detailed Statement of Financial Activities | 6 |
Nailsworth Youth Community Enterprise
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
NYCE, a CIO from 1July 2015 continues the work of charity number 301581 to facilitate the delivery of a programme of recreational and educational activities at Nailsworth Subscription Rooms and its grounds for the people of Nailsworth and surrounding area particularly but not exclusively for young people, whilst maintaining and improving its landmark Victorian building.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1161113
Principal address
Nailsworth Subscription Rooms Bath Road Nailsworth Gloucestershire GL6 0HH
Trustees
Mrs D Lister Mrs F Bratby L Haines Mrs P M Brown F Ashworth J Duckworth C I McIvor T Shipp M J Peer A Hammond D A Parker C Z P Weston (appointed 23.11.22)
Approved by order of the board of trustees on 27 September 2023 and signed on its behalf by:
L Haines - Trustee
Page 1
Nailsworth Youth Community Enterprise
Statement of Financial Activities for the Year Ended 31 March 2023
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Other trading activities 2 22,429 - EXPENDITURE ON Raising funds 3 18,447 - Other 2,732 - Total 21,179 - NET INCOME 1,250 - RECONCILIATION OF FUNDS Total funds brought forward 61,628 - TOTAL FUNDS CARRIED FORWARD 62,878 - |
Total funds £ 22,429 |
|---|---|
| 18,447 2,732 |
|
| 21,179 | |
| 1,250 61,628 |
|
| 62,878 |
The notes form part of these financial statements
Page 2
Nailsworth Youth Community Enterprise
Balance Sheet
31 March 2023
| Unrestricted Restricted fund funds Notes £ £ CURRENT ASSETS Cash at bank and in hand 62,878 - NET CURRENT ASSETS 62,878 - TOTAL ASSETS LESS CURRENT LIABILITIES 62,878 - NET ASSETS 62,878 - FUNDS 5 Unrestricted funds TOTAL FUNDS |
Total funds £ 62,878 |
|---|---|
| 62,878 | |
| 62,878 | |
| 62,878 | |
| 62,878 | |
| 62,878 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2023 and were signed on its behalf by:
L Haines - Trustee
F Bratby - Trustee
The notes form part of these financial statements
Page 3
Nailsworth Youth Community Enterprise
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
Taxation
The charity is exempt from tax on its charitable activities.
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.
2. OTHER TRADING ACTIVITIES
Rental of facilities
£ 22,429
continued...
Page 4
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
3. RAISING FUNDS
Investment management costs
| Investment management costs | |
|---|---|
| £ | |
| Property repairs | 11,695 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023.
5. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.4.22 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 61,628 | 1,250 | 62,878 |
| TOTAL FUNDS | 61,628 | 1,250 | 62,878 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,429 | (21,179) | 1,250 |
| TOTAL FUNDS | 22,429 | (21,179) | 1,250 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 5
Nailsworth Youth Community Enterprise
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 INCOME AND ENDOWMENTS Other trading activities Rental of facilities Total incoming resources EXPENDITURE Raising donations and legacies Insurance Light and heat Cleaning and consumables Investment management costs Property repairs Support costs Management Rates and water Postage and stationery Sundries Human resources Software licences Total resources expended Net income |
£ 22,429 |
|---|---|
| 22,429 1,772 1,040 3,940 |
|
| 6,752 11,695 1,715 7 486 |
|
| 2,208 524 |
|
| 21,179 | |
| 1,250 |
This page does not form part of the statutory financial statements
Page 6