REGISTERED CHARITY NUMBER: 1161113
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Nailsworth Youth Community Enterprise
Nailsworth Youth Community Enterprise
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Nailsworth Youth Community Enterprise
Report of the Trustees
for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity 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 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 (resigned 23.11.23) 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 J J Clifford (appointed 22.11.23)
Approved by order of the board of trustees on 18 November 2024 and signed on its behalf by:
L Haines - Trustee
Page 1
Independent Examiner's Report to the Trustees of Nailsworth Youth Community Enterprise
Independent examiner's report to the trustees of Nailsworth Youth Community Enterprise
I report to the charity trustees on my examination of the accounts of Nailsworth Youth Community Enterprise (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Deirdre Lister
18 November 2024
Page 2
Nailsworth Youth Community Enterprise
Statement of Financial Activities
for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | (1) | - | (1) | - | |
| Other trading activities | 2 | 25,390 | - | 25,390 | 22,429 |
| Total | 25,389 | - | 25,389 | 22,429 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | 50,285 | - | 50,285 | 18,447 |
| Other | - | - | - | 2,732 | |
| Total | 50,285 | - | 50,285 | 21,179 | |
| NET INCOME/(EXPENDITURE) | (24,896) | - | (24,896) | 1,250 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 62,878 | - | 62,878 | 61,628 | |
| TOTAL FUNDS CARRIED FORWARD | 37,982 | - | 37,982 | 62,878 |
The notes form part of these financial statements
Page 3
Nailsworth Youth Community Enterprise
Balance Sheet
31 March 2024
| 31.3.24 | 31.3.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 37,983 | - | 37,983 | 62,878 | |
| CREDITORS | |||||
| Amounts falling due within one year | 6 | (1) | - | (1) | - |
| NET CURRENT ASSETS | 37,982 | - | 37,982 | 62,878 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 37,982 | - | 37,982 | 62,878 | |
| NET ASSETS | 37,982 | - | 37,982 | 62,878 | |
| FUNDS | 7 | ||||
| Unrestricted funds | 37,982 | 62,878 | |||
| TOTAL FUNDS | 37,982 | 62,878 |
The financial statements were approved by the Board of Trustees and authorised for issue on 18 November 2024 and were signed on its behalf by:
L Haines - Trustee
F Bratby - Trustee
The notes form part of these financial statements
Page 4
Nailsworth Youth Community Enterprise
Notes to the Financial Statements for the Year Ended 31 March 2024
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
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Rental of facilities | 25,390 | 22,429 |
Page 5
continued...
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
3. RAISING FUNDS
Raising donations and legacies
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| Insurance | 2,245 | 1,772 |
| Light and heat | 1,970 | 1,040 |
| Cleaning and consumables | 4,426 | 3,940 |
| Support costs | 1,881 | - |
| 10,522 | 6,752 | |
| Investment management costs | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Property repairs | 39,763 | 11,695 |
| Aggregate amounts | 50,285 | 18,447 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Other trading activities 22,429 - EXPENDITURE ON Raising funds 18,447 - Other 2,732 - Total 21,179 - NET INCOME 1,250 - |
Total funds £ 22,429 |
|---|---|
| 18,447 2,732 |
|
| 21,179 | |
| 1,250 |
Page 6
continued...
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | funds | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 61,628 | - | 61,628 | ||
| TOTAL FUNDS CARRIED FORWARD | 62,878 | - | 62,878 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.24 | 31.3.23 | ||||
| £ | £ | ||||
| Trade creditors | 1 | - | |||
| 7. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.23 | in funds | 31.3.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 62,878 | (24,896) | 37,982 | ||
| TOTAL FUNDS | 62,878 | (24,896) | 37,982 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 25,389 | (50,285) | (24,896) | ||
| TOTAL FUNDS | 25,389 | (50,285) | (24,896) |
continued...
Page 7
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
7. MOVEMENT IN FUNDS - continued
Comparatives for 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 |
| Comparative 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 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.4.22 | in funds | 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 61,628 | (23,646) | 37,982 |
| TOTAL FUNDS | 61,628 | (23,646) | 37,982 |
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 | 47,818 | (71,464) | (23,646) |
| TOTAL FUNDS | 47,818 | (71,464) | (23,646) |
continued...
Page 8
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 9
| Nailsworth Youth Community Enterprise | ||
|---|---|---|
| Detailed Statement of Financial Activities | ||
| for the Year Ended 31 March 2024 | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (1) | - |
| Other trading activities | ||
| Rental of facilities | 25,390 | 22,429 |
| Total incoming resources | 25,389 | 22,429 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Insurance | 2,245 | 1,772 |
| Light and heat | 1,970 | 1,040 |
| Cleaning and consumables | 4,426 | 3,940 |
| 8,641 | 6,752 | |
| Investment management costs | ||
| Property repairs | 39,763 | 11,695 |
| Support costs | ||
| Management | ||
| Rates and water | 954 | 1,715 |
| Postage and stationery | - | 7 |
| Sundries | 307 | 486 |
| 1,261 | 2,208 | |
| Human resources | ||
| Software licences | 620 | 524 |
| Total resources expended | 50,285 | 21,179 |
| Net (expenditure)/income | (24,896) | 1,250 |
This page does not form part of the statutory financial statements
Page 10