**REGISTERED CHARITY NUMBER: 1165136**
## **Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31st December 2022**
**for**
**Vulcan Boxing Club**
Sadofskys 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 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|18|
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2022**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. 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.
Page 1
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Membership of the charity has continued to grow. There are now around 8000 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, approximately 40- 50 parcels at peak times (collection only - supply dependent). The bulk of supplies are still purchased from FareShare Hull and Humber. Marks and Spencer's donates food three times a week. Vulcan also receives contributions from the general public and local businesses (particularly during the holiday seasons) for the food bank.
There is youth provision in the building five nights a week. The Youth Project operates three nights a week again and has approximately 120-140 participants on role. Activities included team games, quiz nights, film nights, computer and homework clubs, board games and crafting. The Youth Council met quarterly to share ideas for the club and see some of them implemented. This year the new build/second floor featured regularly on the agenda. Some members met in between these meetings to discuss matters pertinent to their year group, such as work experience and volunteering opportunities, and exam support.
There are now a number of volunteers helping to support the project and the range and nature of activities delivered has grown. We added a media suite to the facilities on offer this year, that provides opportunities for making digital music, dj-ing, t-shirt design, photography and video making. Funding from The Funding Network initiated Vulcan's ability to offer this activity.
The Vulcan Learning Centre has continued to deliver qualifications for young people attending its alternative education provision and was able to extend its offer to General Cookery, as well as Sport related qualifications and Functional Skills in Maths and English. There has been a rise in 14-16-year-old learners, as a significant number of local schools/academies and the East Riding of Yorkshire Local Authority have re-engaged with the Centre. However, it has still no education contract in place for those over the age of 16. Consequently, the centre has been using Skills for Life funding and funding gained from Comic Relief to provide qualifications to those who fall outside commissioned places.
The new workshop extension started to operate in the latter part of the year and is proving to be extremely popular amongst both young people and adults, with opportunities for people to gain skills and qualifications used in the construction industry.
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 well populated.
The Centre has continued to work in partnership with the local police service, the social services, the NHS, the youth offending team, local schools, and services such as ReNew and 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.
In December the Centre found it had been successful in its bid to the Youth Investment Fund to gain £850,000 to build a new floor to the building, comprising: a new gym, office space, a function room, staff meeting rooms, one to one rooms, a hair and beauty training salon, a staff kitchen and shower, toilets and a motor mechanics training garage at the side of the boxing gym. Construction began in February 2023.
## **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.
Page 2
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2022**
## **FINANCIAL REVIEW**
## **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 17.
The free reserves at 31st December 2022, represented by the general fund balance, were £236,510 (2021 - £107,162).
## **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, one is a mentor/youth worker, and the other is a retired serviceman from the RAF who completed 22 years of service and is a long standing boxing coach with great links to the local community.
## **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) (resigned 27/4/23) R Lewis (appointed 27/4/23)
The day-to-day management of the charity has been delegated to S Glazer.
## **Independent Examiner**
Alan Brocklehurst ACA Sadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX
## **EVENTS SINCE THE END OF THE YEAR**
Information relating to events since the end of the year is given in the notes to the financial statements.
Page 3
**Vulcan Boxing Club**
## **Report of the Trustees for the year ended 31st December 2022**
Approved by order of the board of trustees on 31st October 2023 and signed on its behalf by:
E Mortimer - Trustee
Page 4
## **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 2022.
## **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 member of the Institute of Chartered Accountants in England and Wales, 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
Sadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX
31st October 2023
Page 5
## **Vulcan Boxing Club**
## **Statement of Financial Activities for the year ended 31st December 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**16,102**
**Charitable activities**
4
Youth education and activities
**105,308**
Other trading activities
3
**7,121**
**Total**
**128,531**
**EXPENDITURE ON**
Raising funds
5
**4,460**
**Charitable activities**
6
Youth education and activities
**(71,811)**
**Total**
**(67,351)**
**NET INCOME/(EXPENDITURE)**
**195,882**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**560,834**
**TOTAL FUNDS CARRIED FORWARD**
**756,716**|Restricted
funds
£
**370,693**
**-**
**-**
**370,693**
**-**
**391,342**
**391,342**
**(20,649)**
**62,556**
**41,907**|**2022**
**Total**
**funds**
**£**
**386,795**
**105,308**
**7,121**
**499,224**
**4,460**
**319,531**
**323,991**
**175,233**
**623,390**
**798,623**|2021
Total
funds
£
387,835
4,286
7,535
399,656
3,900
443,832
447,732
(48,076)
671,466
623,390|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **Vulcan Boxing Club**
## **Balance Sheet**
## **31st December 2022**
|Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
15
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
**520,207**
**14,616**
**240,350**
**254,966**
**(8,457)**
**246,509**
**766,716**
**(10,000)**
**756,716**|Restricted
funds
£
**-**
**-**
**41,907**
**41,907**
**-**
**41,907**
**41,907**
**-**
**41,907**|**2022**
**Total**
**funds**
**£**
**520,207**
**14,616**
**282,257**
**296,873**
**(8,457)**
**288,416**
**808,623**
**(10,000)**
**798,623**
**756,716**
**41,907**
**798,623**|2021
Total
funds
£
453,672
-
173,510
173,510
(3,792)
169,718
623,390
-
623,390
560,834
62,556
623,390|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31st October 2023 and were signed on its behalf by:
E Mortimer - Trustee
The notes form part of these financial statements
Page 7
## **Vulcan Boxing Club**
## **Cash Flow Statement**
## **for the year ended 31st December 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest element of hire purchase payments
paid
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Capital grants received
Net cash used in investing activities
**Cash flows from financing activities**
Capital repayments in year
Net cash (used in)/provided by financing 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**|**2022**
**£**
**188,624**
**(412)**
**188,212**
**(74,465)**
**-**
**(74,465)**
**(5,000)**
**(5,000)**
**108,747**
**173,510**
**282,257**|2021
£
(93,945)
-
(93,945)
(129,158)
70,000
(59,158)
-
-
(153,103)
326,613
173,510|
|---|---|---|
The notes form part of these financial statements
Page 8
**Vulcan Boxing Club**
## **Notes to the Cash Flow Statement**
## **for the year ended 31st December 2022**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest element of hire purchase and finance lease rental payments
Capital grants received
Increase in debtors
Increase in creditors
**Net cash provided by/(used in) operations**|**2022**
**£**
**175,233**
**25,930**
**412**
**-**
**(14,616)**
**1,665**
**188,624**|2021
£
(48,076)
22,179
-
(70,000)
-
1,952
(93,945)|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||||Other||
|---|---|---|---|---|
||||non-cash||
||At 1/1/22|Cash flow|changes|**At 31/12/22**|
||£|£|£|**£**|
|**Net cash**|||||
|Cash at bank|||||
|and in hand|**173,510**|**108,747**||**282,257**|
||**173,510**|**108,747**||**282,257**|
|**Debt**|||||
|Finance leases|**-**|**5,000**|**(18,000)**|**(13,000)**|
||**-**|**5,000**|**(18,000)**|**(13,000)**|
|**Total**|**173,510**|**113,747**|**(18,000)**|**269,257**|
The notes form part of these financial statements
Page 9
**Vulcan Boxing Club**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2022**
## **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 or, if held under a finance lease, over the lease term, whichever is the shorter.
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.
## **Hire purchase and leasing commitments**
Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.
## **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 10
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Grants
Subscriptions
Grants received, included in the above, are as follows:
Awards 4 All
The National Lottery Community Fund
Government COVID support grants
Comic Relief
Other grants
**3.**
**OTHER TRADING ACTIVITIES**
Sponsorships
Kitchen income
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Schools and similar income
Youth education and activities
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Bid writing|**2022**
**£**
**2,878**
**383,492**
**425**
**386,795**
**2022**
**£**
**10,000**
**97,219**
**-**
**68,202**
**208,071**
**383,492**
**2022**
**£**
**5,500**
**1,621**
**7,121**
**2022**
**£**
**105,308**
**2022**
**£**
**4,460**|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|
|||2021
£
3,900|
continued...
Page 11
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **6. CHARITABLE ACTIVITIES COSTS**
|Support
Direct
costs (see
Costs
note 7)
£
£
Youth education and activities
**315,526**
**4,005**
**7.**
**SUPPORT COSTS**
Governance
Finance
costs
£
£
Youth education and activities
**412**
**3,593**
**8.**
**INDEPENDENT EXAMINER'S REMUNERATION**
**2022**
**£**
Fees payable to the charity's independent examiner for the independent
examination of the charity's financial statements
**2,160**
Other financial services
**233**|Totals
£
**319,531**|
|---|---|
||Totals
£
**4,005**
2021
£
2,040
1,500|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management and administration
Project staff/instructors
Support staff
Apprentices||**2022**
**£**
**197,487**
**7,761**
**6,704**
**211,952**
**2022**
**3**
**1**
**3**
**4**
**11**||2021
£
321,787
7,656
2,133|
|---|---|---|---|---|
|||||331,576|
|||||2021
4
3
3
4
14|
No employees received emoluments in excess of £60,000.
continued...
Page 12
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
136,441
**Charitable activities**
Youth education and activities
4,286
Other trading activities
7,535
**Total**
148,262
**EXPENDITURE ON**
Raising funds
3,900
**Charitable activities**
Youth education and activities
188,696
**Total**
192,596
**NET INCOME/(EXPENDITURE)**
(44,334)
**RECONCILIATION OF FUNDS**
Total funds brought forward
605,168
**TOTAL FUNDS CARRIED FORWARD**
560,834
**12.**
**TANGIBLE FIXED ASSETS**
Freehold
Motor
property
Equipment
vehicles
£
£
£
**COST**
At 1st January 2022
**437,599**
**67,060**
**11,309**
Additions
**74,465**
**-**
**18,000**
At 31st December 2022
**512,064**
**67,060**
**29,309**
**DEPRECIATION**
At 1st January 2022
**16,030**
**42,732**
**8,924**
Charge for year
**9,905**
**9,815**
**3,596**
At 31st December 2022
**25,935**
**52,547**
**12,520**
**NET BOOK VALUE**
At 31st December 2022
**486,129**
**14,513**
**16,789**
At 31st December 2021
421,569
24,328
2,385|Restricted
funds
£
251,394
-
-
251,394
-
255,136
255,136
(3,742)
66,298
62,556
Computer
equipment
£
**11,833**
**-**
**11,833**
**6,443**
**2,614**
**9,057**
**2,776**
5,390|Total
funds
£
387,835
4,286
7,535
399,656
3,900
443,832
447,732
(48,076)
671,466
623,390
Totals
£
**527,801**
**92,465**
**620,266**
**74,129**
**25,930**
**100,059**
**520,207**
453,672|
|---|---|---|
continued...
Page 13
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **12. TANGIBLE FIXED ASSETS - continued**
Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
|**COST**
Additions
**DEPRECIATION**
Charge for year
**NET BOOK VALUE**
At 31st December 2022
At 31st December 2021
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Hire purchase (see note 16)
Trade creditors
Taxation and social security
Other creditors
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Hire purchase (see note 16)
**16.**
**LEASING AGREEMENTS**
Minimum lease payments under hire purchase fall due as follows:
Net obligations repayable:
Within one year
Between one and five years|**2022**
**£**
**14,616**
**2022**
**£**
**3,000**
**237**
**2,481**
**2,739**
**8,457**
**2022**
**£**
**10,000**
**2022**
**£**
**3,000**
**10,000**
**13,000**||Motor
vehicles
£
**18,000**|Motor
vehicles
£
**18,000**|
|---|---|---|---|---|
||||**3,000**||
||||**15,000**||
|||||-|
|||||2021
£
-|
|||||2021
£
-
792
-
3,000|
|||||3,792|
|||||2021
£
-|
|||||2021
£
-
-|
|||||-|
continued...
Page 14
## **Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
Comic Relief (Safe, Secure and Settled)
Paul Hamlyn Foundation
Peter Harrison
B&CE Charitable Trust
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
Designated fund - property and equipment
**Restricted funds**
BBC Children In Need
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
The National Lottery Community Fund
Hull City Council 5yrs plan
Paul Hamlyn Foundation
The Funding Network
Peter Harrison
B&CE Charitable Trust
**TOTAL FUNDS**|At 1/1/22
£
**107,162**
**453,672**
**560,834**
**37,890**
**24,666**
**-**
**-**
**62,556**
**623,390**
follows:|Net
movement
in funds
£
**221,812**
**(25,930)**
**195,882**
**(20,840)**
**(24,666)**
**15,000**
**9,857**
**(20,649)**
**175,233**
Incoming
resources
£
**128,531**
**-**
**128,531**
**48,500**
**97,219**
**29,497**
**68,202**
**10,000**
**43,740**
**30,000**
**18,535**
**15,000**
**10,000**
**370,693**
**499,224**|Transfers
between
At
funds
31/12/22
£
£
**(92,464)**
**236,510**
**92,464**
**520,206**
**-**
**756,716**
**-**
**17,050**
**-**
**-**
**-**
**15,000**
**-**
**9,857**
**-**
**41,907**
**-**
**798,623**
Resources
Movement
expended
in funds
£
£
**93,281**
**221,812**
**(25,930)**
**(25,930)**
**67,351**
**195,882**
**(48,500)**
**-**
**(97,219)**
**-**
**(29,497)**
**-**
**(89,042)**
**(20,840)**
**(10,000)**
**-**
**(43,740)**
**-**
**(54,666)**
**(24,666)**
**(18,535)**
**-**
**-**
**15,000**
**(143)**
**9,857**
**(391,342)**
**(20,649)**
**(323,991)**
**175,233**|
|---|---|---|---|
Page 15
continued...
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for 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)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
78,262
Designated fund - property and equipment
70,000
148,262
**Restricted funds**
ESC Funding
9,333
Reaching Communities
50,334
Community Led Local Development
(CLLD)
32,612
Comic Relief (Safe, Secure and Settled)
113,670
Hull City Council 5yrs plan
15,445
Paul Hamlyn Foundation
30,000
251,394
**TOTAL FUNDS**
399,656|Transfers
between
At
funds
31/12/21
£
£
(59,158)
107,162
59,158
453,672
-
560,834
-
-
-
37,890
-
24,666
-
62,556
-
623,390
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)|
|---|---|
Page 16
continued...
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **17. MOVEMENT IN FUNDS - continued**
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
Comic Relief (Safe, Secure and Settled)
Peter Harrison
B&CE Charitable Trust
**TOTAL FUNDS**|At 1/1/21
£
258,475
346,693
605,168
50,335
15,963
-
-
66,298
671,466|Net
movement
in funds
£
129,657
21,891
151,548
(50,335)
1,087
15,000
9,857
(24,391)
127,157|Transfers
between
funds
£
(151,622)
151,622
-
-
-
-
-
-
-|At
31/12/22
£
236,510
520,206|
|---|---|---|---|---|
|||||756,716
-
17,050
15,000
9,857|
|||||41,907|
|||||798,623|
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**
BBC Children In Need
ESC Funding
Reaching Communities
Community Led Local Development
(CLLD)
Comic Relief (Safe, Secure and Settled)
The National Lottery Community Fund
Hull City Council 5yrs plan
Paul Hamlyn Foundation
The Funding Network
Peter Harrison
B&CE Charitable Trust
**TOTAL FUNDS**|Incoming
resources
£
206,793
70,000
276,793
48,500
9,333
147,553
62,109
181,872
10,000
59,185
60,000
18,535
15,000
10,000
622,087
898,880|Resources
Movement
expended
in funds
£
£
(77,136)
129,657
(48,109)
21,891
(125,245)
151,548
(48,500)
-
(9,333)
-
(197,888)
(50,335)
(62,109)
-
(180,785)
1,087
(10,000)
-
(59,185)
-
(60,000)
-
(18,535)
-
-
15,000
(143)
9,857
(646,478)
(24,391)
(771,723)
127,157|Resources
Movement
expended
in funds
£
£
(77,136)
129,657
(48,109)
21,891
(125,245)
151,548
(48,500)
-
(9,333)
-
(197,888)
(50,335)
(62,109)
-
(180,785)
1,087
(10,000)
-
(59,185)
-
(60,000)
-
(18,535)
-
-
15,000
(143)
9,857
(646,478)
(24,391)
(771,723)
127,157|
|---|---|---|---|
||||151,548
-
-
(50,335)
-
1,087
-
-
-
-
15,000
9,857|
||||(24,391)|
||||127,157|
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.
continued...
Page 17
**Vulcan Boxing Club**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **17. MOVEMENT IN FUNDS - continued**
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 National Lottery Community Fund is a grant to assist in delivering activities that are aimed to support communities.
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.
The Funding Network provided funds to develop a creative suite, with music/DJ audio equipment, along with T-shirt presses, 3D printers, video cameras, and various photography equipment.
The Peter Harrison funding is to be used for a full kit-out of the weights gym, replacing all of the old equipment.
The B&CE funding is to pay for adult learners to undertake construction related qualifications in the company's workshop.
## **18. RELATED PARTY DISCLOSURES**
Remuneration paid to key management personnel during the year amounted to £32,000 (2021 - £32,000).
## **19. POST BALANCE SHEET EVENTS**
On 28th February 2023 the charity's business, assets and liabilities were transferred to The Vulcan Centre, a charitable incorporated organisation with charity number 1176124 and company number CE012565.
Page 18