**REGISTERED CHARITY NUMBER: 1165136**
## **Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31st December 2021**
**for**
**Vulcan Boxing Club**
cbaSadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX
**Vulcan Boxing Club**
## **Contents of the Financial Statements for the year ended 31st December 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Cash Flow Statement**||7||
|**Notes to the Cash Flow Statement**||8||
|**Notes to the Financial Statements**|9|to|17|
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2021**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. 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**
## **Objectives and aims**
The objectives of the charity are to promote the health and fitness of the local community and surrounding areas by the training and displaying the sport of boxing. The charity was established to work with children and vulnerable young people. It helps those on the margins of society - the socially disenfranchised, the elderly, people with disabilities etc.
## **Public benefit**
The charity meets the public benefit criteria through the activities undertaken which include education, training and the advancement of health through amateur sport and recreation.
The trustees are of the opinion that they have complied with the duty in Section 4 of the Charities Act 2011 with regard to public benefit guidance published by the Charity Commission.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity has once again grown dramatically and there has been a substantial increase in membership. There are now over 7000 members from Hull and the surrounding area, who have taken part in a wide range of activities. Vulcan has continued to provide Food Parcels to those who need them, however since the pandemic this service has reduced to around 30/40 parcels at peak times (collection only - supply dependent). The bulk of supplies are still purchased from FareShare Hull and Humber, and Marks and Spencers donates food three times a week. Vulcan also receives contributions from the general public and local businesses (particularly during the holiday seasons).
The Youth Project has now begun to operate three nights a week again and has approximately 120-140 participants (having returned to pre-pandemic levels). There are now a number of volunteers helping to support the project and the range and nature of activities delivered has grown. The Learning Centre has continued to deliver qualifications for young people who are struggling in mainstream education. Numbers in the Learning Centre have also increased, returning to pre-pandemic levels. There has been a rise in 14-16 year old learners, as the centre has re-engaged with a number of local schools and the East Riding Local Authority. However, it has still no education contract in place for those over the age of 16. Consequently, the centre has been using Community Led Development (CLLD) money and funding gained from Comic Relief to provide qualifications to those who fall outside commissioned places.
During the year the workshop extension, including a new storeroom, was completed with the support of match funding from the Garfield Weston Foundation, The Cloth Workers Foundation and the National Lottery. The total build cost was £90,000.
Vulcan prioritises the promotion of health and fitness and has worked with the NHS Recovery College to deliver free bootcamp style classes for people suffering from mental health issues. It has also provided fitness classes for several local schools, including outreach work in a number of locations (the local park and at a number of schools). The sessions proved to be extremely popular and well populated.
The Boxing & Gym classes and the Youth Hub has seen considerable increase in numbers since the pandemic. In one of the weeks the Centre saw over 1000 participants involved in activities. The centre has therefore had to recruit new staff and volunteers to cater for the increasing demand.
The Centre has continued to work in partnership with the local police service, the social services, the NHS, the youth offending team, a number of schools and several local charities (particularly the social housing charity Giroscope and local community centre Lonsdale). Its collaborative approach to working has enabled it to continue to support a wide range of people with a variety of needs.
Page 1
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2021**
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity continues to gain revenue from a variety of sources. It earns money from its education contracts and for subscription payments for gym usage. The annual shows also provide some financial assistance although it has not been possible to hold them this year.
## **Reserves policy**
The policy of the charity is to keep reserves of around 5 to 6 months of staff wages should it lose funding or contracts. This has continued to be achieved during this financial year.
A designated fund has been set up within unrestricted funds to represent the book value of the charity's fixed assets, so that the general fund balance represents the funds that are readily available to the charity. The fund balances can be seen in note 14.
The free reserves at 31st December 2021, represented by the general fund balance, were £107,162 (2020 - £258,475).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
Trustees are invited to become involved and are appointed by the management committee, due to their standing in the community and recognised work with young people and vulnerable adults. The current trustees all work in positions of responsibility. One is a substance abuse worker, another is a councillor with a wide range of experience and the other is a mentor/youth worker.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1165136
## **Principal address**
The Vulcan Centre 42 Heron Street Hull East Yorkshire HU3 3PF
## **Trustees**
D Grant E Mortimer M Nelson (resigned 1/3/22) A Parnaby (appointed 1/3/22)
The day-to-day management of the charity has been delegated to S Glazer.
## **Independent Examiner**
cbaSadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX
Page 2
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2021**
Approved by order of the board of trustees on 31st October 2022 and signed on its behalf by:
A Parnaby - Trustee
Page 3
## **Independent Examiner's Report to the Trustees of Vulcan Boxing Club**
## **Independent examiner's report to the trustees of Vulcan Boxing Club**
I report to the charity trustees on my examination of the accounts of Vulcan Boxing Club (the Trust) for the year ended 31st December 2021.
## **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**
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 registered member of ICAEW which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Alan Brocklehurst ACA ICAEW cbaSadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX
31st October 2022
Page 4
## **Vulcan Boxing Club**
## **Statement of Financial Activities for the year ended 31st December 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**136,441**
**Charitable activities**
Youth education and activities
**4,286**
Other trading activities
3
**7,535**
**Total**
**148,262**
**EXPENDITURE ON**
Raising funds
5
**3,900**
**Charitable activities**
6
Youth education and activities
**188,696**
Other
**-**
**Total**
**192,596**
**NET INCOME/(EXPENDITURE)**
**(44,334)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**605,168**
**TOTAL FUNDS CARRIED FORWARD**
**560,834**|Restricted
funds
£
**251,394**
**-**
**-**
**251,394**
**-**
**255,136**
**-**
**255,136**
**(3,742)**
**66,298**
**62,556**|**2021**
**Total**
**funds**
**£**
**387,835**
**4,286**
**7,535**
**399,656**
**3,900**
**443,832**
**-**
**447,732**
**(48,076)**
**671,466**
**623,390**|2020
Total
funds
£
519,000
57,135
1,630|
|---|---|---|---|
||||577,765|
||||3,600
324,685
39|
||||328,324|
||||249,441
422,025|
||||671,466|
The notes form part of these financial statements
Page 5
## **Vulcan Boxing Club**
## **Balance Sheet**
## **31st December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
**453,672**
**110,954**
**(3,792)**
**107,162**
**560,834**
**560,834**|Restricted
funds
£
**-**
**62,556**
**-**
**62,556**
**62,556**
**62,556**|**2021**
**Total**
**funds**
**£**
**453,672**
**173,510**
**(3,792)**
**169,718**
**623,390**
**623,390**
**560,834**
**62,556**
**623,390**|2020
Total
funds
£
346,693
326,613
(1,840)
324,773
671,466
671,466
605,168
66,298
671,466|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31st October 2022 and were signed on its behalf by:
A Parnaby - Trustee
The notes form part of these financial statements
Page 6
## **Vulcan Boxing Club**
## **Cash Flow Statement**
## **for the year ended 31st December 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Capital grants received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2021**
**£**
**(93,945)**
**-**
**(93,945)**
**(129,158)**
**70,000**
**(59,158)**
**(153,103)**
**326,613**
**173,510**|2020
£
228,047
(39)
228,008
(94,986)
37,842
(57,144)
170,864
155,749
326,613|
|---|---|---|
The notes form part of these financial statements
Page 7
**Vulcan Boxing Club**
## **Notes to the Cash Flow Statement**
## **for the year ended 31st December 2021**
## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**OPERATING ACTIVITIES**|||
|---|---|---|
|**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest paid
Capital grants received
Increase/(decrease) in creditors
**Net cash (used in)/provided by operations**|**2021**
**£**
**(48,076)**
**22,179**
**-**
**(70,000)**
**1,952**
**(93,945)**|2020
£
249,441
18,531
39
(37,842)
(2,122)|
|||228,047|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1/1/21|Cash flow|**At 31/12/21**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank and in hand|**326,613**|**(153,103)**|**173,510**|
||**326,613**|**(153,103)**|**173,510**|
|**Total**|**326,613**|**(153,103)**|**173,510**|
The notes form part of these financial statements
Page 8
**Vulcan Boxing Club**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2021**
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Equipment - 20% on cost Motor vehicles - 25% on reducing balance Computer equipment - 33% on cost
## **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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Grants
Subscriptions
Grants received, included in the above, are as follows:
The National Lottery Community Fund
Government COVID support grants
Comic Relief
Sport England
Other grants
**3.**
**OTHER TRADING ACTIVITIES**
Sponsorships
Room hire
Kitchen income
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Schools and similar income
Youth education and activities|**2021**
**£**
**2,165**
**383,041**
**2,629**
**387,835**
**2021**
**£**
**50,334**
**16,209**
**113,670**
**-**
**202,828**
**383,041**
**2021**
**£**
**2,500**
**-**
**5,035**
**7,535**
**2021**
**£**
**4,286**|2020
£
3,000
515,458
542|
|---|---|---|
|||519,000|
|||2020
£
100,000
35,770
113,670
20,000
246,018|
|||515,458|
|||2020
£
1,000
630
-
1,630
2020
£
57,135|
continued...
Page 10
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **5. RAISING FUNDS**
|**Raising donations and legacies**
Bid writing
**6.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Youth education and activities
**438,732**
**7.**
**SUPPORT COSTS**
Youth education and activities
**8.**
**INDEPENDENT EXAMINER'S REMUNERATION**
Fees payable to the charity's independent examiner for the independent
examination of the charity's financial statements
Other financial services
**9.**
**TRUSTEES' REMUNERATION AND BENEFITS**|**2021**
2020
**£**
£
**3,900**
3,600
Support
costs (see
note 7)
Totals
£
£
**5,100**
**443,832**
Governance
costs
£
**5,100**
**2021**
2020
**£**
£
**2,040**
1,800
**1,500**
1,272|**2021**
2020
**£**
£
**3,900**
3,600
Support
costs (see
note 7)
Totals
£
£
**5,100**
**443,832**
Governance
costs
£
**5,100**
**2021**
2020
**£**
£
**2,040**
1,800
**1,500**
1,272|
|---|---|---|
||||
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**2021**
**£**
**321,787**
**7,656**
**2,133**
**331,576**|2020
£
235,657
7,203
2,738|
|---|---|---|
|||245,598|
continued...
Page 11
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **10. STAFF COSTS - continued**
The average monthly number of employees during the year was as follows:
## **11.**
|Management and administration
Project staff/instructors
Support staff
Apprentices
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
148,324
**Charitable activities**
Youth education and activities
57,135
Other trading activities
1,630
**Total**
207,089
**EXPENDITURE ON**
Raising funds
3,600
**Charitable activities**
Youth education and activities
20,046
Other
39
**Total**
23,685
**NET INCOME**
183,404
**Transfers between funds**
37,842
**Net movement in funds**
221,246
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
383,922
**TOTAL FUNDS CARRIED FORWARD**
605,168|**2021**
**4**
**3**
**3**
**4**
**14**
Restricted
funds
£
370,676
-
-
370,676
-
304,639
-
304,639
66,037
(37,842)
28,195
38,103
66,298|2020
6
3
3
4
16
Total
funds
£
519,000
57,135
1,630|
|---|---|---|
|||577,765|
|||3,600
324,685
39|
|||328,324|
|||249,441
-|
|||249,441
422,025|
|||671,466|
continued...
Page 12
## **Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
|**12.**
**TANGIBLE FIXED ASSETS**
Freehold
Motor
property
Equipment
vehicles
£
£
£
**COST**
At 1st January 2021
**323,055**
**58,900**
**11,309**
Additions
**114,544**
**8,160**
**-**
At 31st December 2021
**437,599**
**67,060**
**11,309**
**DEPRECIATION**
At 1st January 2021
**9,565**
**30,265**
**7,731**
Charge for year
**6,465**
**12,467**
**1,193**
At 31st December 2021
**16,030**
**42,732**
**8,924**
**NET BOOK VALUE**
At 31st December 2021
**421,569**
**24,328**
**2,385**
At 31st December 2020
313,490
28,635
3,578
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**14.**
**MOVEMENT IN FUNDS**
Net
movement
At 1/1/21
in funds
£
£
**Unrestricted funds**
General fund
**258,475**
**(92,155)**
Designated fund - property and equipment
**346,693**
**47,821**
**605,168**
**(44,334)**
**Restricted funds**
Reaching Communities
**50,335**
**(50,335)**
Comic Relief (Safe, Secure and Settled)
**15,963**
**21,927**
Paul Hamlyn Foundation
**-**
**24,666**
**66,298**
**(3,742)**
**TOTAL FUNDS**
**671,466**
**(48,076)**|Computer
equipment
£
**5,379**
**6,454**
**11,833**
**4,389**
**2,054**
**6,443**
**5,390**
990
**2021**
**£**
**792**
**3,000**
**3,792**
Transfers
between
funds
£
**(59,158)**
**59,158**
**-**
**-**
**-**
**-**
**-**
**-**|Totals
£
**398,643**
**129,158**|Totals
£
**398,643**
**129,158**|
|---|---|---|---|
|||**527,801**||
|||**51,950**
**22,179**||
|||**74,129**||
|||**453,672**||
|||346,693||
|||2020
£
-
1,840
1,840
At
31/12/21
£
**107,162**
**453,672**|2020
£
-
1,840|
||||1,840|
|||**560,834**
**-**
**37,890**
**24,666**||
|||**62,556**||
|||**623,390**||
continued...
Page 13
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
ESC Funding
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
Hull City Council 5yrs plan
Paul Hamlyn Foundation
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
**TOTAL FUNDS**|At 1/1/20
£
383,922
-
383,922
38,103
-
-
38,103
422,025|Incoming
resources
£
**78,262**
**70,000**
**148,262**
**9,333**
**50,334**
**32,612**
**113,670**
**15,445**
**30,000**
**251,394**
**399,656**
Net
movement
in funds
£
183,404
-
183,404
12,232
37,842
15,963
66,037
249,441|Resources
Movement
expended
in funds
£
£
**(170,417)**
**(92,155)**
**(22,179)**
**47,821**
**(192,596)**
**(44,334)**
**(9,333)**
**-**
**(100,669)**
**(50,335)**
**(32,612)**
**-**
**(91,743)**
**21,927**
**(15,445)**
**-**
**(5,334)**
**24,666**
**(255,136)**
**(3,742)**
**(447,732)**
**(48,076)**
Transfers
between
At
funds
31/12/20
£
£
(308,851)
258,475
346,693
346,693
37,842
605,168
-
50,335
(37,842)
-
-
15,963
(37,842)
66,298
-
671,466|
|---|---|---|---|
continued...
Page 14
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
Fight For Peace/Sports England
Coronavirus Community Support Fund
**TOTAL FUNDS**|Incoming
resources
£
207,089
99,164
37,842
113,670
20,000
100,000
370,676
577,765|Resources
Movement
expended
in funds
£
£
(23,685)
183,404
(86,932)
12,232
-
37,842
(97,707)
15,963
(20,000)
-
(100,000)
-
(304,639)
66,037
(328,324)
249,441|Resources
Movement
expended
in funds
£
£
(23,685)
183,404
(86,932)
12,232
-
37,842
(97,707)
15,963
(20,000)
-
(100,000)
-
(304,639)
66,037
(328,324)
249,441|
|---|---|---|---|
||||66,037|
||||249,441|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
Paul Hamlyn Foundation
**TOTAL FUNDS**|At 1/1/20
£
383,922
-
383,922
38,103
-
-
-
38,103
422,025|Net
movement
in funds
£
91,249
47,821
139,070
(38,103)
37,842
37,890
24,666
62,295
201,365|Transfers
between
funds
£
(368,009)
405,851
37,842
-
(37,842)
-
-
(37,842)
-|At
31/12/21
£
107,162
453,672|
|---|---|---|---|---|
|||||560,834
-
-
37,890
24,666|
|||||62,556|
|||||623,390|
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continued...
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **14. 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:
|**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
ESC Funding
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
Fight For Peace/Sports England
Coronavirus Community Support Fund
Hull City Council 5yrs plan
Paul Hamlyn Foundation
**TOTAL FUNDS**|Incoming
resources
£
285,351
70,000
355,351
9,333
149,498
70,454
227,340
20,000
100,000
15,445
30,000
622,070
977,421|Resources
Movement
expended
in funds
£
£
(194,102)
91,249
(22,179)
47,821
(216,281)
139,070
(9,333)
-
(187,601)
(38,103)
(32,612)
37,842
(189,450)
37,890
(20,000)
-
(100,000)
-
(15,445)
-
(5,334)
24,666
(559,775)
62,295
(776,056)
201,365|
|---|---|---|
ESC Lottery Fund was for the building of the new Cardio suite.
Reaching Communities Fund is for the expansion of the sessions to make positive changes in the local community and expand the reach of the community that can benefit from the sessions.
Community Led Local Development (CLLD) - Vulcan futures project is for the building of a new kitchen (as an extension to our existing premises) and to create a social enterprise that will provide further education, training & employment opportunities and allow affordable meals to be prepared and served, to the local community.
Comic Relief (Safe, Secure and Settled) is to use sport, as a tool for social change, to improve the lives of children and young people (up to 25 years) who are homeless or living in temporary accommodation to gain skills to lead safe and positive lives.
The Fight For Peace grant, funded by Sport England, is a joint project to inspire young people to become active, to reach their full potential and to promote peace.
The Coronavirus Community Support Fund is a National Lottery grant to assist in delivering activities that are aimed to support communities through the COVID-19 crisis.
The Hull City Council 5 Years plan grant is used for youth work delivery in the west of the city of Hull.
The grant from the Paul Hamlyn Foundation is to fund the salary of key management personnel in order to take pressure away from the charity and facilitate continued strategic development.
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continued...
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2021**
## **15. RELATED PARTY DISCLOSURES**
Remuneration paid to key management personnel during the year amounted to £32,000 (2020 - £30,500).
Page 17