REGISTERED COMPANY NUMBER: 10887667 {England and Wales)
REGISTERED CHARITY NUMBER: 1174048
Report of the Truslees and
Unaudlted Flnancial Statements
for the Year Ended
31 August 2024
for
The Nell Bank Charitable Trust
Kirk N8wsholme
Chartered Accountants
4315 Park Approach
Thorpe Park
Leeds
West Yorkshire
LS15 8GB

The Nell Bank Charitablo Trust
Contents of the Flnanclal Stat•ments
for the Year End•d 31 August 2024
Pag•
Report of the Trusteos
Independent Examlnerfs Report
statement of Financial Activitles
Balance Sheet
Notes to Ihe Flnanclal Statements
8 to 18

The Nell Bank Charilable Trust
R•port of the Trustoos
for Ihe Year Ended 31 August 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31 August 2024. The trustees have
adopted the provisions of AeLounting and Reporting by Charities: Statement of Recommended Pradice
applicable to charilies preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)-
OBJECTIVES AND ACTIVITIES
The Charity's objective is to make safe high quality outdoor leaming accessible to all children and young
people for the long-term, enriching their love and understanding of the natural wodd.
The Nell Bank Outdoor Education Centre, run by the Nell Bank Charitable Trust, provides day and residential
outdoor leaming experiences for schools, families and community groups. Additionally, the trust specialises
in outdoor learning provision for special schools 2nd families with SEND children {Special Educational Needs
and Di5abililies). The trust has also developed a programme of popular fundraising events for local families
which are then replicated free of charge for families from deprived communities.
When reviewing our objectives and aims and whèn planning our future activities, the Trustee DI￿￿Or$ have
paid due regard to guidance issued by the Charity Commission on Public Benefit in deciding what activities
the Charity should undertake.
ACHIEVEMENT AND PERFORMANCE
Charftable activities
As well as the profound social, emotional. educational and wellbeing benefils of a visit, spending time at Nell
Bank also increases children's understanding and appreciation of nature and the environmenl.
The Centre has deliVe￿d outdoor learnlng experiences to a record 24,000 visitors, including childr8n and
young people, over the past 12 months. The programmes have b88n offered to both mainstream and special
schools, community groups and families with an emphasis on inclusion and ensuring accessibilily for all. The
inherent benefits of spending time in green open spaces on children's physical and mental wellbeing has
been especially important this year as we have again looked lo support the more disadvantaged children and
famllles in our district. this is done through both targeting our provision and through the use of our Assisted
Places Scheme which has subsidised visits for over 2.555 of the most deprived children in our community.
Fund raising activities and external grants are critical to the running of the Cenlre, to either reduce the cost of
visits or maintain and improve the quality of the Centre's programmes and infrastructure. During the year,
predominantly through external fund raising, we have built a new facility, the Paul Hockney Room, from which
our youngest visitors can explore.
As a volunteer led organisation, volunteers are integral to the cent￿,$ achievements. Their phenomenal
commitment has been recognised by The Kings Award for Voluntary Service, which was received in
November 2024.
Fundraising activities
The charity raises funds via ticketed events on its own land and premises, on prlvate sites (including
market-slyle events} where aC￿sS to the public is invited by the owner of the related land or premises. online
events such as quizzes or via standing order or direct debil agreed with an individual during such events or
invited through social media articles.
Page 1

The Nell Bank Charitable Trust
Report of the Trustees
for the Year Ended 31 August 2024
FINANCIAL REVIEW
At an operating level, the consequenGe of a high Inflationary environment and the impacl on our cost base,
combined with relatively fixed activity income, is that the costs of charitable activities have exceeded income
by £93k.
During the year. total income including gifts and donations amounted to £784k {2023- £601k). This includes
restricted donations recognised in the year of £223k (2023: £39k). The increase from the prior year is
primarily due to the recognition of £131k of restricted funds, a combination of grants, donations and gifts.
which partly funded our new Early Years building, the Paul Hockney Room. Restricted donations also include
the Holiday Activity and Food programme grant. which increased lo £61 k (2023: £51 k).
It remains the policy of the Charity that unrestricted funds, vthich have not been designated for a specific use,
should be maintained at a defined level. which broadly equates to three months of expected expenditure for
the Nell Bank Centre. The pandemic has shown the need to maintain sufficient reserves to allow for the
temporary Glosure of Ihe Centre and the Trustee Directors consider that reserves at this level are prudent and
appropriate. During the year, general unrestricted funds decreased to £302k {2023.' £311k). which is within
the reseNes policy limits.
Nell Bank's activities are seasonal in nature. Through the December and January period, costs remain largely
fixed bul our income is significantly lower. Our reserves position therefore varies materially depending on the
time of y8ar, with August being one of the highest cash points in the year. At 31 January 2024. our
unrestricted cash balance was £170k compared to £296k at 31 August 2024.
This approach of establishing and maintaining a defined level of general unrestricted funds allows the Trustee
Directors to have confidence that NBCT remains a going concern.
The Trustee D1￿ctorS have assessed the major risks to which the Charity IS 8xposed and are satisfied that
systems are in place to mitigate exposur8 lo thes8 risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charily is a company limited by guarantee, company number 10887667 incorporated on 27 July 2017
and registered as a charity, number 1174048, on 31 July 2017 In England and Wales.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10887667 (England and Wales)
Registered Charlty number
1174048
Registered office
Denton Road
Ilkley
West Yorkshi
LS29 ODE
Trustee5
R C Bourdon
AMDClark
N J Hewitt
M Hogan
DJHorn
A D Merrick
A Fowler lappointed 14.5.24)
New TTUStee Directors are appointed by the existing Trustee Directors by Board resolution and retire for the
purpose of member rewelection at th8 first AGM following their appointment.
Indemnity insurance costing £773 (2023: £828) was purchased during the year on behalf of the Trustees
Directors.
Page 2

The Nell Bank Charitable Trust
Report of the Twstses
for the Year Ended 31 August 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary
A L Moralee
Independent Examlner
Kirk Newsholme
Chartered Accountants
4315 Park Approach
Thorpe Park
Leeds
West Yorkshire
LS15 8GB
Approved by order of the board of trustees on 20 December 2024 and signed on its behalf by:
A Fowler - Trustee
Page 3

Independent Examiner's Report to tho Trustees of
The Nell Bank Charitable Trust
Independent examlnorfs report to the trustoes of The Nell Bank Charitable Trusl ('the Companv)
I report to Ihe charity trustees on my examination of the accounts of the Company for the year ended
31 August 2024.
Responsibilities and basis of report
As the charity's trustees of the Company land also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
2006 ('the 2006 Act'}.
Having satisfied myself thal Ihe accounts of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity's
accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my
examination I have followed the Directions given by the Charity Commission under Section 145{5) (b) of the
2011 Act.
Ind•pondent examlnerfs statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I
Gan confimi that l am qualified to undertake the examination because l am a member of the Institute of
Chartered Accountants in England and Wales, which is one of the Ilsted bodies.
I have completed my exaTnination. l Confirm that no matters have come to my attention in connection with the
examination giving me cause to believe:
accounting records were not kept in respect of the Company as required by Section 386 of the 2006
A¢t', or
the accounts do nol accord with those records; or
the accounts do not comply with the accounting reqU1￿MentS of Section 396 of Ihe 2006 Act 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. or
the accounts have not been prepared in accordance with the methods and principles of the Ststement
of Recommended PracliGe for accounting and reporting by charities {applicable to charities preparing
their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic
of Ireland IFRS 102)).
I have no concems and have come across no other matters in connection with the examination to vthich
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Jill Wright BA FCA
The Institute of Chartered Accountsnts in England and Wales
Kirk Newsholme
Chartered Accountants
4315 Park Approach
Thorpe Park
Leeds
West Yorkshire
LS15 8GB
Date:Ib . January 2025
Page 4

The Nell Bank Charitable Trust
statement of Flnancial Activities
for the Year Ended 31 August 2024
2024
Total
funds
2023
Total
nds
Unrestricted
funds
Restricted
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
18,431
223,451
241,882
56,825
Charitable actlvltles
Charitable activities
526,323
526,323
538,447
Investrnent income
16,246
16,246
6,085
Total
561,000
223.451
784.451
601,357
EXPENDITURE ON
Raising funds
349
41,148
41,497
45,453
Charttable activities
Charitable activilies
Govemance costs
559,821
5.271
54,694
614,515
5.271
608.643
8.287
Total
565,441
95,842
661,283
662,383
Net gains on investments
6,000
6,000
65,000
NET INCOME
Transf•r$ between funds
1,559
51,600
127,609
(51,600)
129,168
3,974
15
Net movemenl in funds
53.159
76,009
129,168
3,974
RECONCILIATION OF FUNDS
Totsl fvnds broughl forward
334,038
1,101,678
1.435.716
1,431.742
TOTAL FUNDS CARRIED FORWARD
387.197
1,177,687
1,564,884
1,435,716
The notes form part of these financial statements
Page 5

The Nell Bank Charitable Trust
Balance Sheet
31 August 2024
2024
Total
funds
2023
Total
fijnds
Unrestricted
funds
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
85,212
1,177,687
1,262,899
1.125.188
CURRENT ASSETS
Debtors
Cash at bank
12
60,743
295,907
3,555
23,082
64,298
318,989
74,654
339,550
356,650
26.637
383,287
414.204
CREDrfoRS
Amounts falling due within one year
13
(54.665)
(26,637)
{81,302)
(94.676)
NET CURRENT ASSETS
301.985
301,985
319.528
TOTALASSETS LESS CURRENT
LIABILITIES
387.197
1.177,687
1.564.884
1.444,716
PROVISIONS FOR LIABILITIES
14
(9.000>
NET ASSErs
387,197
1,177,687
1,564.884
1.435,716
FUNDS
Unrestricted funds
Restricted funds
15
387,197
1,177,687
334.038
1.101,678
TOTAL FUNDS
1,564,884
1,435.716
The charitable company is entitled to eX8mption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial ststements for the year ended
31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that Ihe charitable company keeps accounting records that comply with Sections 386 and 387
of the Companies Act 2006 and
preparing financial stalements which give a true and fair view of the state of affairs of the charitable
company as at the end of each financial year and of its surplus or deficit for each financial year in
accordance with the requirernents of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the
charitable company.
(b)
The notes form part of these financial statements
Page 6
continued...

The Nell Bank Charitable Trust
Balan¢e Sheet - continued
31 August 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable
companies subject to the small ￿rnpanIeS regime.
The financi81 statements were approved by the Board of Trustees and authorised for issue on
20 December 2024 and were signed on its beha￿ by:
A Fowler - Trustee
AMDClark-Tru
The notes form part of these financial statements
Page 7

The Nell Bank Charltable Trust
Notes to the Flnancial Statements
for the Year Ended 31 August 2024
ACCOUNTING POLICIES
Basis of preparing the flnanclal statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP (FRS 102) 'A¢counting and Reporling by
Charities: Statement of Recommended Practice appliGable to charilies 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 Companies Act 2006. The financial statements
have been prepared under the histOTical cost convenlion.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing
these financial statements. as permitted by FRS 102 'The Financial Reporting Slandard applicable in
the UK and Republic of I￿land.:
the requirements of Section 7 Statement of Cash Flows"
the requirement of paragraph 3.17(d)',
the requirements of paragraphs 11.42, 11.44. 11.45. 11.47. 11.48(a)(iii), 11.48(a)(iv). 11.48{b) and
11.48{c)'
the requirements of paragraphs 12.26. 12.27, 12.29(a), 12.29{b) and 12.29A,'
the requirement of paragraph 33.7.
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have
been met, Ihe amounts can be measured reliably and it is probable that income will be received.
Cash donations are recognised on re¢&ipt. Other donations are recognised once the Charity has been
notified of the donation, unless perfom)ance 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.
Expendlture
Liabilities are recognised as expenditure as soon as there is a legal or conslructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will be
required in selllement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classtfied 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.
Charitable expenditure comprises Ihose costs incuffed by the charity in the delivery of ils activities and
services for its beneficiaries. It indudes both costs that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Allocation and apportionment of costs
Support costs are allocated in full to the sole charitable activity.
Tangible fixod assets
Tangible fixed assets are stated al purdlase cost. net of depreciation.
Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated
residual value of each asset on a straight line or reducing balance basis over its expected useful lrfe as
follows:
Leasehold land and buildings
Activity equipment
Computers
Motor vehicl@s
- 8-38 years straight line
5-15 years straight line
3 years straight line
20Vo reducing balance
Page 8
Continued.,.

The Nell Bank Charitable Trust
Notes to the Financial Statements - Contlnued
for the Year Ended 31 August 2024
ACCOUNTING POLICIES . continued
Tangible flxed assets
Residual value repr8senls the estimated amount which would currently be obtained from disposal of an
asset after deducting estimated costs of disposal, if the asset were already at an age and in the
condition expected at the end of its estimated useful life.
The gain or loss arising on the disposal of an 8sset is determined on the differ8nc8 b8tW88n th8 sale
proceeds and the carrying value of the asset. and is recognised in the statement of financial activities.
Taxallon
The charity is 8X8mpt from corporation tax on Its charitable activities.
Fund accountlng
Unrestrict8d funds are available for use 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.
Restridions arise when specified by the donor or when lunds are raised for particular restricted
purposes.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
Where material, the cost of any unused holiday entillemenl is recognised in the period in which the
employee's services are received.
Retirement benèfits
Payments to defined contribution retirement benefft schemes are charged as an expense as they fall
due.
The cost of provldlng benefits under defined benefit plans is d8t8miined separately for each plan using
the projected unit cr8dil m8thod, and is based on actuarial advice.
The change in the net defined benefit liability arising from employee service during the year is
recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and
curtailments ar8 r8cognised as incu￿ed.
The nel inlerest elamenl is d8termined by multiplying the net defined benefit liability by the discount
rate, taking into account any changes in the net defined benefit liability during the period as a result of
Contribution and benefit payments. The net interest is recognised in incomellexpenditure) for the year.
Remeasur8ment changes comprise actuarial gains and losses, the effect of the asset Ceiling and the
return on the net defined benefit liability excluding amounts included in net interest. These are
recognised immediately in other recognised gains and losses in the period in which they occur and are
not reclassified to incomel {expenditure) in subsequent periods.
The net defined b8n8fit P8nsion asset or liability in the balance sheet comprises the total for each plan
of the present Value of the defined benefit obligation (using a discount rate based on high quality
corporate bonds), less the fair value of plan assets out of which the obligations are to be settled
directly. Fair value is based on market price information. and in the case of quoted securities is the
published bid price. The value of a net pension benefit asset is limit8d to the amount that may be
recovered either through r8duc8d contributions or agreed refunds from the scheme.
Flnaneial instruments
Financial assets and financial liabilitie5 are recognised vthen the company becomes a paty to the
contractual provisions of the inslrument.
Page 9
contlnued...

The Nell Bank Charltable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
ACCOUNTING POLICIES - continued
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the company after deducling all of its liabilities.
All financial assets and liabilit18s are initially measured at transaction price (including transaction
costs), unless the arrangement constitutes a financing transaction. If an arrangemenl constitutes a
financing transaction, the financial asset or financial liability is measured at the present value of the
future payments discounted at a market rate of interest for a similar debt instrument.
Th8 following assets and liabilrties are classified as basic financial instruments trade debtors, other
debtors. cash and bank balances, trade creditors and other creditors.
Trade debtors, other debtors. cash and bank balances, trade credilors and other creditors are
measured at the amortised cost equivalent to the undiscounted amount of cash or other conslderatlon
expected to be paid or received.
Impairnient of assets
Financial assets and financial liabiliti8s are recognised when the company becomes a party to the
contractual provisions of the instrument.
Assets are assessed for indicalors of impairment at each balance sheet date. If there is objective
evidence of impainnent, an impairment loss is recognised in the statement of financial activities as
described b810w.
Non financial assets
An asset is impaired when there is objective eviden￿ that, as a result of one or more events that
occurred after initial recognilion, the estimated recoverable value of the asset has been reduced. The
recoverable amount of an asset is the higher of its fair value less costs to sell and Its value in use.
Financial assets
For financial assets carried at cost less impairment, the impaimient loss is the difference be￿een the
asset's carying amount and the best estimate of the amounl that would be received for the asset if it
were sold at the reporting date.
Where indicators exist for a decrease in impairment loss. and the decrease can be relaled objectively
to an event occurring after the impairment was recognised. the prior impainnent loss is tesled to
determine reversal. An impairment loss is reversed on an individual impaired financial asset to the
extent that the revised recoverable value does not lead to a revised carying amount higher than the
carrying value had the Impalrment loss not been recognised.
DONATIONS AND LEGACIES
2024
2023
Donations and gifts
Grants receivable for core activities
Donated goods and services
180,677
60.617
588
4,956
51,269
600
241,882
56,825
Grants received, included in the above, are as follows..
2024
2023
Grant Incom8
60,617
51,269
Page 10
continued...

The Nell Bank Charltable Trust
Notes to the Flnanclal Statements - continued
fi)r the Year Ended 31 August 2024
INVESTMENT INCOME
2024
2023
Interest re￿1vable
Net interest on defined benefit pension scheme
15.246
1.000
7.085
{1.000)
16,246
6.085
INCOME FROM CHARITABLE ACTIVITIES
2024
Charitable
activities
2023
Total
aclivities
Event fees
Volunteer memb8r fees
Activitie5
Room hire
37.522
2,675
480,168
5,958
38.207
250
498,135
1,855
526,323
538,447
RAISING FUNDS
Ralslng donatlons and legacies
2024
2023
Fundraising project costs
Marketing costs
Catering costs
Motor expenses
Legal and professional fees
Teaching resources
Repairs and renewals
28,582
2.024
9,319
21,065
1,554
8.717
1.029
1,812
601
10.675
81
886
605
41,497
45,453
CHARITABLE ACTIVITIES COSTS
Support
costs {see
note 7)
Direct
Costs
Totsls
Charitable activities
Governance costs
377,974
236,541
5,271
614,515
5.271
377,974
241,812
619,786
Page 11
continued...

The Nell Bank Charitable Trust
Not•s to lh• Financlal Statements . contlnued
for the Year Ended 31 August 2024
SUPPORT COSTS
Govemance
costs
Management
Totals
Charitable activities
Governan￿ costs
236,541
236,541
5.271
5.271
236,541
5,271
241,812
Support costs, included in the above, are as follows:
2024
Total
activities
2023
Total
activities
Charitable
activities
Govemance
costs
Premises costs
Insurance
Repairs and ren8wals
Computer costs
Printing, postage and stationery
Travel
Sundries
Subscriptions
Legal and professional fees
Depreciation
Accountancy fees
Independent examination
87,304
30,537
37,263
6,359
198
2,197
4,703
2,737
4.120
61,123
87,304
30,537
37,263
6,359
198
2,197
4,703
2,737
4,120
61.123
2.871
2,400
82.979
29,899
35,993
7,414
599
268
5,403
2,857
3,267
54.266
5,887
2,400
2,871
2,400
236,541
5.271
241,812
231.232
NET INCOMEI{EXPENDITURE)
Net income is staled after charging:
2024
2023
Depreciation - owned assels
61.123
54,267
TRUSTEES. REMUNERATION AND BENEFITS
There wer8 no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the
year ended 31 August 2023.
Trustees. expenses
There were no tnjstees, expenses pald for the year ended 31 August 2024 nor for the year ended
31 August 2023.
Page 12
continued...

The Nell Bank Charltable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
10. STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Other pension costs
295,452
21,674
51,048
282.904
20,708
64,937
368,174
368,549
The average monthly number of employees during the year was as follows:
2024
18
2023
18
Charitable activities
No employees received emoluments in excess of £60.000.
11. TANGIBLE FIXED ASSETS
Leasehold
land and
buildings
Activity
equipment
Motor
vehicles
Computers
Totals
COST
At 1 September 2023
Additions
1,230,579
196.130
41,183
1.988
21.938
8,285
716
1.301.985
198.834
At 31 August 2024
1,426.709
43,171
21,938
9,IK11
1,500,819
DEPRECIATION
At 1 September 2023
Charge for year
154.408
53,029
10,606
3,798
5,834
3,225
5,949
1,071
176,797
61,123
At 31 Augusl 2024
207,437
14,404
9,059
7,020
237,920
NET BOOKVALUE
At 31 August 2024
1,219,272
28,767
12,879
1,981
1,262,899
At 31 August 2023
1,076,171
30,577
16,104
2.336
1.125,188
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade deblors
Prepayments and accrued income
39,103
25,195
50,567
24,087
64,298
74,654
Page 13
continued...

The Nell Bank Charltable Trust
Not•s to lh• Financlal Statsments - continued
for the Year Ended 31 August 2024
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Tr8de Creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Accrued defined benefit payments
36,197
5,383
909
31.875
6,938
13,862
5,059
3,456
56,217
16.082
81.302
94.676
14. PROVISIONS FOR LIABILITIES
2024
2023
Retirement benefit obligalions
9.000
Defined contrlbution schemes
The charge to the statement of financial activities in respect of pension contribution schemes was £-
(2023- £-).
Deflned benefit schemes
The Nell Bank Charitable Trust is a participating employer of the West yorkshi￿ Pension Fund.
Relirement benefits are based upon final pensionable pay. Pension Contributions are charged to the
statement of financial acllvities so as to spread the cost over the 8mployees' worklng lives with the
Charity. The West Yorkshir8 Pension Fund is a multi-employer scheme and the assets of the scheme
are administered by tTUStees in a fund independent from those of the Charity.
Pension costs are assessed in accordance with the advice of a qualified actuary using the projected
unit method. The most recent fund actuarial valuation was carried out at 31 March 2019. This
information is based upon a full actuarial valuation at 31 March 2019 updated to 31 August 2024 by
Aon Solutions UK Lld, a qualified independent actuary.
Key assumption5
2024
Discount rate
CPI inflation
Pension increases
Pension accounts revaluation rate
Salary increases
3.75
Mortality assumptions
The assumed life expectations on retirement at age 65 are:
2024
Years
Retiring today
Males
Females
20.8
21.7
Retiring in 20 years
Males
Females
24.0
24.7
Page 14
continued...

The Nell Bank Charltable Trust
Notes to the Flnanclal Statements - continued
for the Year Ended 31 August 2024
14.
PROVISIONS FOR LIABILITIES - continued
Amounls recognised in the ststemenl of financial activities:
2024
Current servlce cost
Net interest on defined benefil liabiltyl(asset)
52,01)0
(1,000)
Total costs
51,000
Amounts taken to other comprehensive income:
2024
Actual retum on scheme assets
Less: calculated interest element
(99.000}
41.1)00
Return on scheme assets excluding interest income
Acluarial changes related to obligations
Adjustment gainl{loss) due to restriction of surplus
(58,0001
(3.000)
55,000
Total costsl{income)
{6.000)
The amounts included in the balance sheet arising from the Charity's obligalions in respect of defined
benefit plans are as follows:
2024
Fair value of plan assets
Present value of defined benefit obligations
960,000
(905.000)
Funded status
Unrecognlsed asset
55,000
(55,000)
AsseV(liability) recognised on the balance sheet
Movements in the present value of defined benefit obligations:
Liabilities at 1 September 2023
Current service cost
Interest expense
Contributions from scheme member5
AGtuarial gains and losses
802.000
52.000
40.000
14.000
{3.000}
At 31 August 2024
905,000
The defined benefit obligations arise from plans funded as follows..
2024
Wholly unfunded obligations
Wholly or partly funded obligations
(905,000)
(905,000)
Page 15
continued...

The Nell Bank Charltable Trust
Notes to the Financial Slatements - conllnued
for the Year Ended 31 August 2024
14.
PROVISIONS FOR LIABILITIES - contlnued
Movements in the fair value of plan assets:
Fair value of assets at 1 September 2023
Interest income
Remeasurement gainsl(losses) on assets
Contributions by the employer
Contributions by scheme members
793.000
41.000
58.000
54,000
14,000
At 31 August 2024
960,000
The fair value of plan assets at the reporting period end was as follows:
2024
Equity instruments
Propety
Government bonds
Corporate bonds
Cash
Other
761,000
26.000
85.000
38,000
26,000
24,000
960,000
15. MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
beiween
funds
At
31.8.24
At 1.9.23
Unrestricted funds
General unrestrided funds
Designated funds
310,528
23,510
7.989
{6,430)
{16.532)
68.132
301,985
85,212
334.038
1.559
51.600
387,197
Restri¢tsd funds
Restricted fund
1,101,678
127,609
(51,600)
1,177,687
TOTAL FUNDS
1,435,716
129,168
1,564,884
Nel movement in funds, included in the above are as follows:
Incoming
resources
Resour￿$
expend8d
Gains and
losses
Movement
in funds
Unrestrlcted funds
General unrestricted funds
Designated funds
561,000
{559,011)
(6,430)
6,000
7,989
{6.430)
561,000
(565,441)
6,000
1.559
Restrfcted funds
Restrided fund
223.451
{95,842)
127,609
TOTAL FUNDS
784,451
(661,283)
6.000
129.168
Page 16
continued...

The Nell Bank Charltable Trust
Notes to the Flnancial Statements - continued
for the Year Ended 31 August 2024
15.
MOVEMENT IN FUNDS - continued
Comparatives for movement In funds
Net
movement
in funds
Transfers
be￿e￿n
funds
At
31.8.23
At 1.9.22
Unrestricted funds
General unrestricted funds
Designated funds
207,508
25.121
64,432
(4.010)
38,588
2,399
310,528
23,510
232,629
60,422
40,987
334.038
Restricted funds
Restricted fund
1,199,113
{56.448)
{40,987)
1,101.678
TOTAL FUNDS
1.431,742
3,974
1,435.716
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General unrestricted fund5
Designated funds
562,364
(562,9321
{4,0101
65,000
64,432
(4,010)
562.364
(566,942)
65,000
60,422
Restricted funds
Restricted fund
38,993
{95,441)
<56.448)
TOTAL FUNDS
601.357
(662,383)
65,000
3.974
During the year £51,600 12023 £40,987) was transferred from the restricted fund to the general
unrestricted fund in relalion to the allocation of funding as and when restricted income projects W8re
delivered.
The designated fund repr8S8nts fixed assets that are not restricted In nature. During the year £68.132
(2023 £2,399) was transferred from the general unrestricted fund to the d8signated fund in relation to
the movement in the net book value of these fixed assets.
16. RELATED PARTY DISCLOSURES
Remuneration of koy management personnel
The remuneration of key management personnel is as follows.
2024
2023
Aggregate remuneration
73,114
70.557
Subsidiaries
Country of incorporation or
resldency
Nature of
business
Name of undertaking
Nell Bank Queen's Jubilee Centre Trust
England
Charity
Page 17
continued...

Th• Nell Bank Charitable Trust
Notes lo thg Flnan¢lal Statements - contlnued
for the Year Ended 31 August 2024
16.
RELATED PARTY DISCLOSURES - continued
Control is created by The Nell Bank Charitable Trust being Ihe sole Trustee of Nell Bank Queen's
Jubilee Cenlre Trust from 1 September 2019.
The aggregate capital and reserves and the result for the year of subsidiaries was as follows:
Capital and
reserves
Profftl
(Loss)
Name of undertaking
Income
Expenses
Nell Bank Queen's Jubilee Centre
Trust
Charity number: 510022
17. CAPITAL
The company is limited by guar8ntee and has no share capital.
The liability of the trustee directors in the event of a winding up is limited to £1 per member.
Page 18