REGISTERED COMPANY NUMBER: 10887667 (England and Wales) REGISTERED CHARITY NUMBER: 1174048 Report of the Trustees and Unaudited Financlal Statements for the Year Ended 31 August 2025 for The Nell Bank Charitable Trust Kirk Newsholme Chartered Accountants 4315 Park Approach Thorpe Park Leeds West Yorkshire LS15 8GB
The Nell Bank Charitable Trust Contents of the Financlal Statements for the Year Ended 31 August 2025 Page Rèport of tho Trustées Independent Examinerfs Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 18
The Nell Bank Charltable Trust Report of the Trustees for the Year Ended 31 August 2025 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 2025. The trustees have adopted the provisions of Accountlng 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 The Charity's objective is to make safe, high-quality outdoor learning accessible to all children and young People for the long term, enriching their love and understanding of the natural world. The Nell Bank Outdoor Education Centre. run by the Nell Bank Charitable Trust. provides day and residential outdoor learning experiences for schools, families and community groups. Additionally, the trust specialises in outdoor learning provision for special schools and families with SEND children (Special Educational Needs and Disabilit18sI. The twst has also developed a programme of popular fundraising events for local families which are then replicated free of charge for famllles from deprlved communities. Children and young people are at the heart of what Nell Bank does. Success is measured through the exp8rience of visitors to Nell Bank. After every visit, children are asked to complete a survey and school staff are asked to provide feedback. The feedback is highly valued and used to inform future activities, Improvements and changes to the centre. As a volunteer led organisation. volunteers are integral to the Centre's achievements. Volunteers help with a wide variety of areas including organising and assisting with fundraising ev8nts, writing grant applications, assisting with maintenance of the site, and providing professional expertise lo support charity activities. Their phenomenal commitment has been recognSsed by The KSngs Award for Voluntary Service, which was received in November 2024. When reviewing our objectives and aims and when planning our future activities, the Trustee Directors have paid due regard to guidance issued by the Charity Commission on Public Benefit in deciding what activities the Charity should undertake. ACHIEVEMENTS AND PERFORMANCE Charitable activities A visit to Nell Bank has a profoundly posltlve impact on the wellbeing of children from a social, emotional, and educational aspect. Spending time at Nell Bank increases children's understanding and appreciation of nature and the environment, coupled with the inherent benefits of green open spaces on their physical and mental wellbeing. The Centre has delivered outdoor learning experiences to 25,000 visitors, including children and young people, over the past 12 months. The programmes have been offered to both mainstream and special schools. community groups and families with an emphasis on inclusion and ensuring accessibility for all. Children from deprived areas of Nell Bank's community often have very limited access to green open space or opportunities to explore the countryside. The chance to experience these spaces can make a huge difference to a child's mental and physical health. Nell Bank have continued to support the more disadvantaged children and families 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 2,865 of the most deprived children in our community. Fundraising activities Fund ralsing actlvltles and extemal grants are critical to the running of th8 Centre, to either reduce the cost of visits or maintain and improve the quality of the Cenlre's educational offer and infrastructure. The charity raises funds via ticketed events on its own land and premises, on privale sites {including market-style events) where access to the public is invited by the owner of the related land or premises, online events such a5 quizzes or via stsnding order or direct debit agreed with an individual during such events or invited through social media articles. Page 1
The Nell Bank Charltable Trust Report of the Trustses for the Year Ended 31 August 2025 FINANCIAL REVIEW The prevailing inflationary environment and increasing costs associated with employing staff continues to be a significant challenge for Nell Bank. Consistent with 2024, the charity's expenditure has come under continued upward pressure. On the income side, although price rises have been implemenled, there is a natural limit on the fees that can be charged to schools. as any increase is largely passed onto parents. Ensuring affordability for families remains a key consideration in pricing decisions. Ongoing inflationary pressures and limited growth in operating income meant that the charity expenditure exceeded income in the year by £45k {2024.' income exceeded expenditure by £123k). During the year, total income including gifts and donations amounted to £665k12024- £784k>. This includes restricted donations recognised in the year of £101k (2024.. £223k). The decrease from the prior year is primarily due to Ihe recognition in 2024 of £131k of restricted funds, a combination of grants. donations and gifts. which partly funded the Early Years building. the Paul Hockney Room. As we move into the next financial year, In light of rising costs and a commitment to keeping programmes affordable for schools and families, the charity is increasingly dependent on fundraising and voluntary donations. Continued support from funders and donors is crTrtical to sustaining and expanding our work. It remains the policy of the Charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a defined level, which broadly equat8S 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 the Centre and the Trustee Directors consider thal reserves at this level are prudent and appropriate, During the year, general unrestricted funds increased to £315k {2024., £302k), which is within Ihe reserves policy limits. Nell Bank's activities are seasonal in nature. Through the December and January period, Gosts remain largely fixed but our income is significantly lower. Our $h reserves position therefore varies materially depending on the time of year, with August being one of the highest cash points in the year. At 31 January 2025, our unrestricted cash balance was £213k compared to £301k at 31 August 2025. The financial policies of the Charity determine that Ihe cash reseNes should be held with investmentrade rated financial institutions, and the cash held with any institution is capped at the FSCS limit. This approach of estsblishing and maintaining a defined level of general unrestricted funds allows the Trustee Directors to have confidence thal NBCT remains a going concern. The Trustee Directors have assessed the major risks to which the Charity is exposed and are satisfied that syslems are in place to mitigate exposure to these risks. FUTURE PLANS Nell Bank plans to continue in its mission to provide safe, high-quality outdoor learning accessible to all children and young people for the long lenn, enriching their love and understanding of the natural worfd. The core provision of outdoor leaming experiences will be continually reviewed and adapted based on visitor feedback received. As we enter the next financial year. increased costs and our dedication to keeping programmes affordable mean the charity is becoming more reliant on fundraising and voluntary contributions. Continued backing from funders and donors is crucial for maintaining and expanding our impact. STRUCTURE. GOVERNANCE AND MANAGEMENT The Charity 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) Page 2
The Nell Bank Charltable Trust Report of the Trustees for the Year Ended 31 August 2025 Registered Charity number 1174048 Registered office Denton Road Ilkley West Yorkshire LS29 ODE Trustees R C Bourdon (resigned 31.12.251 AMDClark N J Hewitt M Hogan DJHorn A D Merrick (resigned 14.5.25) A Fowler M J Atack {appointed 10.12.24) R Giles (appointed 1.1.261 New Trustee Directors are appointed by the existing Trustee Directors by Board resolution and retire for the purpose of member re-election at the first AGM following iheir 8ppointment. Indemnity insurance costing £634 <2024: £773) was purchased during the year on behalf of the Trustees Directors. Company Secretary A L Moralee Independent Examiner Kirk Newsholme Chartered Accountants 4315 Park Approach Thorpe Park Leeds West Yorkshire LS15 8GB Approved by order of the board of trustees on 16 January 2026 and signed on its behalf by: A Fowl8r- Trustee Page 3
Indep6nd8nt Examiner's Report to the Trustees of The Nell Bank Charitsble Trust Independent examiner's report to the trustees of The Nell Bank Charitable Trust Ilhe Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025. Responsibilities and basis of report As the chariws trustees of the Company (and also its directors for the purposes of company law) you are responsibl8 for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 2006 Acf). Having satisfied myself Ihat the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. l POrt in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (Ihe 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commisslon under Sectlon 145(5) (b) of the 2011 Act. Independent examlner's statement Since your charivs gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l arn qualified to undertake the examination b8cause l am a memb8r of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confinn 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 the accounts do not accord with those records. or the accounts do not comply wilh the accounting requirements of Section 396 of the 2006 Act other than any requirement that Ihe 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 Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)>. I have no concems 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. Jill Wright BA FCA The Institute of Chartered Accountants in England and Wales Kirf< Newsholme Chartered Accounlants 4315 Park Approach Thorpe Park Leeds West Yotl(shire LS15 8GB Date.. January 2026 Page 4
The Nell Bank Charltable Trust Statement of Financial Activities for the Year Ended 31 August 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 17,813 101.133 118,946 241,882 Charitable activities Charitable activities 531,180 531,180 526,323 Investment income 15,071 15.071 16,246 Total 564.064 101,133 665.197 784.451 EXPENDITURE ON Raislng funds 613 40,452 41,065 41,497 Charitable activities Charitable activities Governance costs 606,060 6,251 56,449 662,509 6,251 614,515 5.271 Total 612,924 96,901 709,825 661,283 Net gains on investments 6,000 NET INCOMEI(EXPENDITURE> Transfers between funds (48,860) 56.647 4,232 (56,647) {44.628) 129,168 14 Net movement in funds 7,787 (52,415} 144,828) 129.168 RECONCILIATION OF FUNDS Total funds brought forward 387.197 1,177,687 1.564,884 1.435.716 TOTAL FUNDS CARRIED FORWARD 394.984 1,125,272 1,520,256 1,564,884 The notes fomi part of these financial statements Page 5
The Nell Bank Charitable Trust Balance Sheet 31 August 2025 2025 Total funds 2024 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets 11 80.158 1.125.272 1.205.430 1,262.899 CURRENT ASSETS Debtors Cash at bank 12 75,583 300.600 4,590 43,742 80,173 344,342 64,298 318,989 376,183 48,332 424,515 383,287 CREDITORS Amounts falling due within one year 13 (61,357) (48,332) (109,689) {81,302) NET CURRENT ASSETS 314.826 314.826 301.985 TOTAL ASSETS LESS CURRENT UABILITIES 394,984 1,125,272 1,520,256 1,564,884 NET ASSETS 394,984 1,125.272 1,520.256 1,564,884 FUNDS Unrestricted funds Restricted funds 14 394,984 1.125,272 387,197 1,177,687 TOTAL FUNDS 1.520,256 1,564,884 The charitable Gompany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements whioh give a true and fair view of Ihe 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 requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act 2006 relating to financial statements, so far as applicable to the charitable cornpany, (b) The notes fom part of these financial statements Page 6 continued.
The Nell Bank Charitable Trust Balance Sheet - continued 31 August 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 16 January 2026 and were signed on its behalf by: A Fowler- Trustee A M D Clark - Truste The notes form part of these financial statements Page 7
The Nell Bank Charitable Trust Notes to the Financlal Statements for the Year Ended 31 August 2025 ACCOUNTING POLICIES Basis of preparing the financial ststements The financial statements of the charitable company, which is a public benefit ents'ty under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. Flnanclal reporting standard 102 - reduced disclosure exemplions The charilable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting St8ndard applicable in the UK and Republic of Ireland,: 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 entilled to it after any performance conditions have been met, the amounls 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 perfomance conditions require deferral of the amount. Income tax recoverable in relalion to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Expenditure Liabilities are recognised as expendlture 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 dassified 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 those costs incurred by the charity in ihe delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Allocatlon and apportionment of costs Support costs are allocated in full lo the sole charitable activity. Tanglble flxed assets Tangible fixed assets are stated al purchase cost, net of depreciation. Depreciation is provided on all tangible assets at rates calculat8d to write off the cost less estimated residual value of each asset on a straight line or reducing balance basis over its expected useful life as follows: Leasehold land and buildings Activity equipment Computers Motor vehicles 8-38 years straight line 5-15 years straight line 3 years straight line - 20 /0 reducing balance Page 8 contlnued...
The Nell Bank Charitable Trust Notes to the Financlal Statements - continued for the Year Ended 31 August 2025 ACCOUNTING POLICIES - continued Tangible fixed assets Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducling 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 asset is detennined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds are available for use in accordance with the charitable objectives at the discretion of the truslees. 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 funds are raised for particular restricted purposes. Employeo benefits The costs of short-term employee benefits are recognised as a liabS15ty and an expense. Where malerial, the cost of any unused holiday entitlement is recognised in the period in which the employ88's seNices are received. Retirèment beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The cost of providing benefts under defined benefit plans is determined separately for each plan using the projected unil credit method, and is based on actuarial advice. The change in the net defined benefit liabllity arising frorn employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as incued. The net interest element is detemiined 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 conlribution and benefit payrnents. The net interest is recognised in incomel{expenditure) for the year. Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the nel 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 in¢omel (expenditure) in subsequent periods. The net defined benefit pension 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 infonnation, and in the case of quoled securities is the published bid price. The value of a net Pension benefrt asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme. Flnanclal Instruments Financial assets and financial liabilitles are recognised when the company becomes a paty to the contractual provisions of the instrument. Page 9 contlnued...
The Nell Bank Charitable Trust Notes to the FFnancial Statements - continued for the Year Ended 31 Augusl 2025 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 Gontract that evidences a residual interest in ttie assets of the company after deducting all of its liabilib'es. All financial assets and liabilities are initially measured at transaction price (including transaction costs). unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the presenl value of the future payments discounted at a market rate of interest for a similar debt instrument. The following assets and liabilities 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 creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected lo be paid or received. Impairnient of assels Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instwment. Assets are assessed for indicators of Smpalment at each balance sheet date. If there is objective evidence of impaimient, an impaimient loss is recognised in the statement of financial activities as described below. Non financial assets An asset is impaired when there is objecttve evidence that, as a result of one or more events that oCcurd after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of ils fair value less costs lo sell and its value in use. Financial assets For financial assets carried at cost less impairment, the Impaimient loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset rf it were sold at the reporting dale. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after Ihe impairment was recognised, the prior impairment loss is tested 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 carrying amount higher than the carrying value had the impairment loss not been recognised. DONATIONS AND LEGACIES 2025 2024 Donations and gifts Grants receivable for core activities Other income Donated goods and seNices 47,721 66,900 4,325 180,677 60.617 588 118,946 241.882 Page 10 continued...
The Nell Bank Charltable Trust Notes to the Flnancial Statements - continued for the Year Ended 31 August 2025 DONATIONS AND LEGACIES - continued Grants reived, included in the above, are as follows: 2025 2024 Grant Income 66,900 60,617 INVESTMENT INCOME 2025 2024 Interest receivable Net interest on defined benefit pension scheme 14,071 1,000 15.246 1,000 15,071 16,246 INCOME FROM CHARITABLE ACTMTIES 2025 Charitable activities 2024 Total activities Event fees Volunteer member fees Activities Room hire 62,126 5,292 458,860 4.902 37,522 2,675 480,168 5,958 531,180 526.323 RAISING FUNDS Ralslng donatlons and legacles 2025 2024 Fundraising project costs Marketing costs Catering costs Legal and professional fees Teaching resour5 Repairs and renewals 27,938 1.322 10,223 28.582 2,024 9,319 81 886 605 1,388 194 41,065 41,497 Page11 continued...
The Nell Bank Charltable Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2025 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Charitable activities Governance costs 415.664 246,845 6,251 662,509 6,251 415,664 253,096 668,760 SUPPORT COSTS Govemance Costs Management Tolals Charitable activities Governance costs 246,845 246,845 6,251 6.251 246,845 6,251 253,096 Support costs, included in the above. are as follows: 2025 Total activities 2024 Tolal activities Charitable activities Govemance costs Premises costs Insurance Repairs and renewals Computer costs Printing, postage and stationery Travel Sundries Subscriptions Legal and professional fees Depreciation Accountarscy fees Independent examination 78,433 29,620 54,053 6,208 506 187 3.592 2,317 7.334 64,595 78,433 29,620 54,053 6,208 506 187 3,592 2,317 7,334 64,595 3,851 2,400 87,304 30,537 37,263 6.359 198 2,197 4.703 2,737 4,120 61,123 2.871 2,400 3.851 2,400 246,845 6,251 253,096 241.812 NET INCOMEI(EXPENDITURE} Net income is stated after charging.. 2025 2024 Depreciation - owned assets 64,595 61.123 Page 12 continued..,
The Nell Bank Charitable Trust Notes to the Financial Ststements - continued for the Year Ended 31 August 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 August 2025 nor for the year end8d 31 August 2024. Trustees. expenses There were no trustees. expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024. 10. STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 309,398 28.145 56,860 295.452 21.674 51,048 394,403 368,174 The average monthly number of employees during the year was as follows: 2025 18 2024 18 Charitable activities The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2025 2024 £60.001- £70,000 11. TANGIBLE FIXED ASSETS Leasehold land and buildings Activity equipment Motor vehicles Computers Totals COST At 1 September 2024 AdditFons 1,426,709 43,171 7,126 21,938 9,001 1,500,819 7,126 At 31 August 2025 1.426,709 50,297 21,938 9,001 1,507,945 DEPRECIATION At 1 September 2024 Charge for year 207,437 55,648 14,404 5,311 9,059 2,580 7,020 1,056 237.920 64,595 At 31 August 2025 263,085 19,715 11,639 8,076 302,515 NET BOOK VALUE At 31 August 2025 1.163,624 30,582 10,299 925 1,205,430 At 31 August 2024 1,219,272 28,767 12,879 1.981 1,262,899 Page 13 continued...
The Nell Bank Charitable Trust Notes to the Flnan¢Sal Statements - continued for the Year Ended 31 August 2025 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Prepayments and accrued income 52,465 27,708 39.103 25,195 80,173 64,298 13. CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2025 2024 Trade creditors Social security and other taxes Other creditors Accruals and deferred income Accrued defined benefit payments 38,773 6,894 1,271 55.382 7.369 36,197 5.383 909 31.875 6.938 109,689 81,302 14. MOVEMENT IN FUNDS Net movement In funds Transfers beeen funds At 31.8.25 At 1.9.24 Unrestricted funds General unrestricted funds Designated funds 301.985 85,212 (40.712) (8.148) 53,553 3,094 314,826 80,158 387,197 (48,860) 56,647 394,984 Restrlctsd funds Restricted fvnd 1,177,687 4,232 156,647) 1,125.272 TOTAL FUNDS 1.564.884 (44.628} 1.520,256 N8t movement in funds, included in the above a as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General unrestricted funds Designated funds 564.064 {604,776} {8,148) (40,712) {8,148) 564,064 (612,924) (48.860) Restricted funds Restricted fund 101.133 (96.901) 4,232 TOTAL FUNDS 665,197 (709,825) (44,628) Page 14 conlinued,..
The Nell Bank Charitable Trust Notes to the Financial Stalements - continued forthe Year Ended 31 August 2025 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers beeen funds At 31.8.24 At 1.9.23 Unrestricted funds General unrestricted 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 Restricted funds Restricted fund 1,101.678 127,609 (51,600) 1,177,687 TOTAL FUNDS 1,435,716 129.168 1,564,884 Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrlcted funds General unrestricled funds Designated funds 561.000 (559,011) {6.430) 6.000 7,989 (6.430) 561,000 (565,441) 6.000 1,559 Restrlcled funds Restricted fund 223,451 (95.842) 127,609 TOTAL FUNDS 784.451 (661,283) 6,000 129,168 During the year £56.647 (2024 £51.600) was transferred from the restricted fund to the general unrestricted fund in relation to the allocalion of funding as and when restricted income projects were delivered. The designated fund represents fixed assels that are not restricted in nature. During the year £3,094 (2024 ', £68,132) was Iransferred from the general unrestricted nd to the designated fund in relation to the movement in the net l)ook vslue of these fixed assets. Page 15 continued...
The Nell Bank Charitable Trust Notes to the Financlal Statements - continued for the Year Ended 31 August 2025 15. RELATED PARTY DISCLOSURES Remuneration of key management personnel The remunerdtion of key management personnel is as follows. 2025 2024 Aggregate remuneration 77.810 73,114 Subsidiaries Country of Incorporatlon or residency Nature of business Name of undertaking Nell Bank Queen's Jubilee Centre Trust England Charty Control is created by The Nell Bank Charitable Trust being the sole Trustee of Nell Bank Queen's Jubilee Centre Trust from 1 September 2019. The aggregate capital and reserves and the result for the year of subsidiaries was as follows: Capital and reserves Profiu {Loss) Name of undertaking Income Expensès Nell Bank Queen's Jubilee Centre Trust Charily number: 510022 16. RETIREMENT BENEFIT SCHEMES Defined contribution schemes The charge to the statement of financial activities in respect of pension contribution schemes was £- (2024 - £-). Deflned benefit schemes The Nell Bank Charitable Trust is a particlpating employer of the West Yorkshire Pension Fund. Retiremenl benefits are based upon final pensionable pay. Pension contributions are charged to the statement of financial activities so as to spread the cost over the employees. working lives with the Charity. The West Yorkshire Pension Fund is a multi*mployer scheme and the assets of the scheme are administered by trustees 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 reGent 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 2025 by Aon Solutions UK Ltd, a qualified independent actuary. Key assumptions 2025 Discount rate CPI inflalion Pension increases Pension accounts revaluation rat8 Salary increases 3.75 Page 16 continued...
The Nell Bank Charitable Trust Notes to the Financial Statements - continued for th• Year Ended 31 August 2025 16. RETIREMENT BENEFIT SCHEMES - contlnued Mortality assumptions The assumed life expectations on retirement at age 65 are.. 2025 Years Retiring today - Males Females 21.2 24.2 Retiring in 20 years - Males - Females 22.1 24.9 Amounls COgniSed in the statement of financial activities.. 2025 Current service cost Net inlerest on defined benefit liabilityl(asset) 49,000 {1.000) Total costs 48.000 Amounts taken to other comprehensive Income: 2025 (Gain)Iloss on scheme assets Less- calculated int8rest element (22,000) 49,000 (Gain)Iloss on scheme assets excluding interest income Actuarial (gainyloss related to obligations Adjustm8nt {gain)Iloss due to restriction of surplus 27,000 (270,000) 251,000 Total costsl(income> 8,000 The amounts included in the balance sheet arising from the Charity's obligations in respect of defined benefit plans are as follows: 202S Fair value of plan assets Present value of defined benefit obligations 1,056,000 (747,000) Funded status Unrecognised assel 309.000 (309.000) AssetJ(liability) recognised on the balan sheet Movements in the psent value of defined benefit obligations: Liabilities at 1 September 2024 Currenl service cost Interest expense Contributions from scheme members Actuarial gains and Ioss8S 905,000 49.000 45.000 18.000 (270.000> At 31 August 2025 747,000 Page 17 continued...
Tho Nell Bank Charitable Trust Notes to the Financial Statements - Continued for the Year Ended 31 August 2025 16. RETIREMENT BENEFIT SCHEMES - Continued The defined benefit obligations arise from plans funded as follows: 2025 Wholly unfunded obligations Wholly or partly funded obligations (747,000) {747,000) Movements in the fair value of plan assets- Fair value of assets at 1 September 2024 Interest income Remeasurement gainsl{losses) on assets Contributions by the employer Contributions by scheme members 960.000 49,000 (27,000) 56,000 18,000 At 31 August 2025 1,056.000 The fair value of plan assets at the reporting period end was as follows: 2025 Equity instruments Property Govemment bonds Corporate bonds Cash other 834.000 29.000 107.000 41,000 19,000 26,000 1,056,000 17. CAPITAL The company is limited by guarantee and has no share capital. The liability of the trustee directors in the evenl of a winding up is limited to £1 per Member. Page 18