Charity Registration No. 1169421
THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| General information Trustees’ report Statement of trustees' responsibilities Independent examiners’ report Statement of fnancial activities Statement of assets Notes to the fnancial statements |
Page 3 4 - 6 7 8 9 - 10 11 12 - 18 |
|---|---|
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
Trustees Mr Neil Parsley Mr David McDermott Dr Colin Robertson Mr Kevin Robinson Mr Robert Keefe Ms Sarah Stevenson Charity number 1169421 Principal address 6 New Hall Lane Wirral CH47 4BP Bankers HSBC Bank PLC 99-101 Lord Street Liverpool L2 6PG Accountant Alan Goddard Limited Unit 14, Tower Street Century Building Brunswick Business Park Liverpool L3 4BJ
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
TRUSTEES’ REPORT
The trustees present their report and financial statements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The objectives of the Foundation are as follows:
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To use physical activity as a vehicle to engage the community into lifelong learning and progression in fitness and sport.
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Create a sporting environment that fosters a sense of identity, pride and thirst for knowledge.
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Create a physical activity sporting hub that integrates the community, fostering a team philosophy.
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Educate people about themselves, and about how their bodies work.
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Raise people’s awareness regarding what makes for effective physical activity, exercise and event specific training, and at the same time teach them about how healthy nutrition supports their aims.
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Using sport and physical activity, within an inspiring, innovative, forward thinking fitness facility as a vehicle to engage hard to reach individuals and groups into sustainable, accessible, affordable, fitness programs.
The main activities undertaken in relation to these objectives have been providing free structured coaching and health and well-being sessions to various community groups across Wirral and at our facility sites. The UTS Foundation works in partnership with a range of agencies, such as the NHS, police, youth service, youth offending teams, schools, colleges and youth clubs to help and support the following people:
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Post cancer care patients: including structured support to help with recovery.
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Prescribed exercise for people with ongoing health issues.
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Children and adults who are considered disabled or have Special Education Needs (SEN’s).
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Inactive children, young people and adults signposted to us to help engage in physical activity.
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Support for vulnerable groups, such as those with mental health issues.
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Support for ex-service personnel, with exercise programs, nutrition advice and support.
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Older people (over 55) with health issues or who are isolated and would benefit from fun, friendly sessions.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
By using physical activity as a vehicle to engage with such groups, we believe the Foundation is providing a public benefit which will hopefully bring lasting change to these people’s lives and the communities in which they live.
We can confirm that the trustees have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake.
Achievements and performance
The UTS Foundation have been successful in their application to be chosen as the Charity of Choice for the Wirral Bikeathon and the Hoylake 10k running event for 2024.
The UTS Foundation hosted a football event on behalf of Enterprise Rent a Car.
The UTS Foundation has been awarded £10,000 for 2024 from the Anne Dutchess West Minister Charity (ADWC) and a further £7,500 from the National Lottery Community Fund to deliver prescribed physical exercise classes and nutritional support for people living with cancer.
Financial review
At the end of the reporting period, the Foundation has a total surplus fund of £40,995. This surplus can be allocated between unrestricted and restricted funds as follows:
Restricted: £9953 Unrestricted general: £30,502 Total: £40,455
The funds held in restricted funds are those that have been granted/donated for a specific purpose. Further details of each of the projects can be found at note 14.
Reserves Policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two months' expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
Also, the Foundation and its Trustees remain grateful to The Underground Training Station Limited for its continued support.
Risk Policy
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks
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THE UNDERGROUND TRAINING STATION FOUNDATION
(ALSO KNOWN AS THE UTS FOUNDATION)
Structure, governance and management
The UTS Foundation is a Charitable Incorporated Organisation and is governed by a Constitution of a Charitable Incorporated Organisation, with voting members other than its charity trustees. Also known as an Association model.
The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed or as an additional charity trustee provided that the maximum number of 12 trustees is not exceeded.
None of the trustees has any beneficial interest in the charity.
The trustees' report was approved by the Board of Trustees.
Mr David McDermott Trustee Dated: 24 July 2024
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charities SORP.
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make judgements and estimates that are reasonable and prudent.
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2024, which are set out on pages 8 to 10.
Respective responsibilities of trustees and examiner.
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements 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.
.....................................................................
Date: ............................................
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Current Financial Year Notes Income from: Donations and Legacies 3 Total Income Expenditure on: Rasing Funds 4 Charitable Activities 5 Total Expenditure Net expenditure for the year/ Net movement in fund Fund Balance - 30 Sept 2023 Fund balance - 30 Sept 2024 |
Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 33,750 17,500 51,250 22,219 |
|---|---|
| 33,750 17,500 51,250 22,219 - - - - 19,546 13,645 33,191 16,786 |
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| 19,546 13,645 33,191 16,786 |
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| 14,159 3,855 18,014 5,343 16,343 6,098 22,441 30,502 9,953 40,455 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Prior Financial Year Notes Income from: Donations and Legacies 3 Total Income Expenditure on: Rasing Funds 4 Charitable Activities 5 Total Expenditure Net expenditure for the year/ Net movement in fund Fund Balance - 30 Sept 2022 Fund balance - 30 Sept 2023 |
Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 22,129 - 22,129 24,648 |
|---|---|
| 22,129 - 22,129 24,648 - - - - 14,789 2,000 16,786 35,650 |
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| 14,786 2,000 16,786 35,650 |
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| 7,343 (2,000) 5,343 (11,002) 9,000 8,098 17,098 16,343 6,098 22,441 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
BALANCE SHEET
FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Prepayments Creditors: amount falling due within one year 12 Total assets less current liabilities Creditors: amount falling due after one year 13 Net assets Income fund Restricted funds 14 Unrestricted funds |
2024 2023 - - 86,641 73,267 - (37,761) (37,221) |
|---|---|
| 48,880 36,046 (8,425) (13,605) |
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| 40,455 22,2441 9,953 6,098 30,502 16,343 |
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| 40,455 22,441 |
The financial statements were approved by the Trustees on 24 July 2024
Mr David McDermott Trustee
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
ACCOUNTIING POLICIES
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. 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 Going concern
At the time of approving the accounts and as detailed in the Trustees’ report the Trustees have considered the impact Covid-19 has had on the economy, the lingering effect on peoples’ finances and the impact this has on the charity. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are recognised in the statement of financial activities when the conditions for receipt have been complied with.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
ACCOUNTIING POLICIES (Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.
Costs of raising funds are those incurred in seeking voluntary contributions and applying for grant funding and do not include the costs of disseminating information in support of the charitable activities. The costs of activities in furtherance of the charity's objects comprise expenditure on the charity's primary charitable purposes. Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
All expenditure is inclusive of irrecoverable VAT.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment 25% per annum straight line Hanger project 25% per annum straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
1.9 Financial instruments
The charity 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 charity's balance sheet when the charity 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.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
ACCOUNTIING POLICIES (Continued)
1.10 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.
1.11 Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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 operations 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.
1.12 Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.13 Taxation
The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.
The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
3 Donations and legacies
| Donations and gifts 4 Raising funds |
Unrestricted Funds 2024 Unrestricted Funds 2023 |
|---|---|
| 33,705 22,129 |
| Unrestricted | Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | ||||||
| 2024 | 2023 | ||||||
| - | - | ||||||
| 5 | Charitable activities |
||||||
| 2024 | 2023 | ||||||
| Advertising | - | - | |||||
| Professional fees | 22,311 | 6,468 | |||||
| Insurance | 330 | 581 | |||||
| Rent | 9,600 | 9,200 | |||||
| Telecommunication Costs | - | - | |||||
| 32,241 | 16,249 | ||||||
| Share of support costs (see note 6) | 410 | 537 | |||||
| Share of governance costs (see note | 6) | 540 | - | ||||
| 33,191 | 16,786 | ||||||
| Analysis by fund | |||||||
| Unrestricted funds | 19,546 | 14,786 | |||||
| Restricted funds | 13,645 | 2,000 | |||||
| 33,191 | 16,786 | ||||||
| 6 | Support costs |
||||||
| Support | Costs | Governance Costs | Total | Costs | |||
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||
| Depreciation | - | - | - | - | - | - | |
| Interest Payable | 410 | 537 | - | - | 410 | 537 | |
| Computer Costs | - | - | - | - | - | - | |
| Accountancy | - | - | 540 | - | - | - | |
| 410 | 537 | 540 | - | 950 | 537 | ||
| Expenditure Analysis | |||||||
| Charity Activities | 410 | 537 | 540 | - | 950 | 537 |
Governance costs for accountancy include a payment of £540.00 (2023: £Nil) for independent examination fees.
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
7 Trustees
Trustees' remuneration and other expenses amounted to £Nil which related to all trustees for the year (2023:£Nil).
8 Employees
There were no employees during the year.
There were no employees whose annual remuneration was £60,000 or more.
9 Tangible fixed assets
| 9 Tangible fxed assets |
||
|---|---|---|
| Equipment Cost At 1 Oct 2023 7,042 At 30 Sept 2024 7,042 Depreciation and impairment At 1 Oct 2023 7,042 Charge for the year - At 30 Sept 2024 7,042 Carrying Amount At 30 Sept 2023 - At 30 Sept 2024 - 10 Financial instruments Carrying amount of fnancial assets Debt instruments measured at amortised cost Carrying amount of fnancial liabilities Measured at amortised cost 11 Loans and overdrafts Bank loans Payable after one year 12 Creditors: amounts falling due within one year Other creditors Bank loans Accruals and deferred income 13 Creditors: amounts falling due after more than one year Bank loans |
Equipment | Fixtures and fttings Total |
| 64,758 71,800 64,758 71,800 64,758 71,800 - - 64,758 71,800 - - - - 2024 2023 |
||
| 86,641 73,267 46,186 50,226 2024 2023 |
||
| 14,005 19,185 8,425 13,605 2024 2023 |
||
| 27,381 26,841 5,580 5,580 4,800 4,800 |
||
| 37,781 37,221 2024 2023 |
||
| 8,425 13,605 |
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
14 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Rehabilitation and Development Centre Anne Duchess of Westminster’s Charity |
Balance 1 Oct 22 Expenditure 2023 Balance 30 Sept 23 Expenditure 2024 Balance 30 Sept 24 |
|---|---|
| 3,533 - 3,533 - 3,533 4,565 (2,000) 2,565 3,855 6,420 |
|
| 8,098 (2,000) 6,098 3,855 9,953 |
Rehabilitation and development centre
This fund is to develop a World Class, not-for-profit rehabilitation and development centre designed to help some of the most vulnerable members of our community tackle a range of illnesses and ill health. This includes those with mental ill health, drug and alcohol issues, obesity and type 2 diabetes, military veterans and post cancer care. Inside there will be space for counselling, workshops as well as excellent facilities, equipment and classes to help people recover and improve their health and wellbeing.
Anne Duchess of Westminster's Charity
The UTS received funding for the continued part-time employment of 2 x Cancer Rehabilitation Level 4 specialists coach and the creation of two new Community Nutrition and Wellbeing Practitioner roles for 2024
National Lottery Community Fund
The UTS Foundation received funding to deliver a health and wellbeing program for people living with cancer, involving walking and talking events, 1-1 individual and group training sessions for 12 months during 2024.
15 Analysis of net assets between funds
| Tangible assets Current assets/(liabilities) Long term liabilities |
Unrestricted Restricted Total 2024 2023 2024 2023 2024 2023 |
|---|---|
| - - - - - - 38,927 29,948 9,953 6,098 48,800 36,046 (8,425) (13,605) - - (8,425) (13,605) |
|
| 30,502 16,343 9,953 6,098 40,455 22,441 |
16 Operating lease commitments
At the reporting end date, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows
| Within one year Between two and fve years In over fve years |
2024 2023 |
|---|---|
| 7,200 7,200 28,800 28,800 122,400 122,400 |
|
| 158,400 158,400 |
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THE UNDERGROUND TRAINING STATION FOUNDATION (ALSO KNOWN AS THE UTS FOUNDATION)
17 Related party transactions
Transactions with related parties
Included in other creditors is a balance of £26,841 (2023: £26,841) owed to Underground Training Station Limited, a company in which three of the trustees, Neil Parsley, David McDermott and Colin Robertson, are also directors.
No Trustees received any remuneration for services as Trustees of the charity.
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