Charfty NuThthr 1174417 INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 'A(YJMKSS• 0210W2024 C(WIPANIES pfousE Registered Company Number .' 10924365 {EThjnd & Wales) Compa)y Limited By Gu¥
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED CONTENTS PAGE Page Legal and Administrative Infomiation TteeS Report Independent EXamineS Report Statement of Financkql Activities Balance Sheet Notes to the Accounts
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED LEGAL & ADMINISTRATIVE INFORMATION FOR ThE YEAR ENDED 31 MARCH 2023 InGorporat•d 21st JguSt 2017 Company Limrted by Guwantee R•gist•r•d Namg Inspired NeKJhtKJurtK>ods Charitable Trust Limtted R•gi8t•r•d Company Number 10924365 R•glster•d Charity Numb•r 1174417 R•gistsred Offle• Wright Watson Enterprise Centre 40 Road Bradford BDIO 9PY Dir•ctors & Trustws mAJ8ar A Bath"r Z Hussa L Mairs J Steele J Ahm&J T Ahmed S Kouser Resigned 31 W 2022 ReswJned 13 September 2023 Resed 20 September 2023 pted 20 September 2023 ppcinled 20 Seplember 2023 pointed 20 September 2023 Socrelary N Qureshi Reshjned 13 Poril 2023 Bankets Natwest Bank Indendent Examlngr Torevell Dent Limited 1-3 Si Ann's pface Pellon Lane Halifax HX15RB Page 1
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 1. Structur•, Governonce and Man•g•ment Inspired NeIghurhOOdS Charilabk Tnjst IINCT} is a company limited by guarantee incorporated on 24th August 2017 with company numIr 10924365 . The company was established under a Memorandum and Artides of AssoGiation vthich fomi INCT'S "goveming documents.. INCT is also a charity registered on 24 August 2017 viith charty numter 1174417 . Accordingly, the Board of Diffjctors of the company are also i15 trustees for the purpose of charity law.. however, throughout this report they are lleCtWelY referred to as "Directors.. Th• Dlrectors: Date Appointed: Dale Resigned: M A J 8rèarley A 8ashir Z Hussain L Mairs J Steele J Ahmad T Ahmed S Kouser 31n1r2019 21108r2017 3110112019 0610212019 31101r2019 2010912023 2010912023 20109r2023 31ffj5r2022 13109rd023 20A)9r2023 The Board of Directors is SponsIe for the Strateg directK)n and sound overall management of INCT. The Board of Directors ha5 members from a variety of professional backgrounds and experience of Health. Asset M8nagemenl. Community Development and Economy revant lo INCT'5 ethos and work. The Oirectors meet about every 6 to 8 lo discuss and dacide upon strategic and linesS matter5. A scheme of delegation is in place and day-ttrday responsibility for the pwsion of the serv5 rest Wbth the Chief Executive supported by the Senior Management Team and Finan Officer. The Chief Executive is responsible for ensuring that INCT deliver5 the serKes that have been commissioned or funded and that key perfomance indicatots are met. Bank: NATWEST Bank. 1 Market Street. Bradford BD1 1EG Accountants: Torevell Dent Ltd, 1-3 Sl Ann's Place. Pelh)n Lane. Halifax. HX15R8. 2. INCT'¥ Vision, Mls5ion and Values INCT'S vision is to: Create prosperous. Coheve and sustainable FAaces lo li and %wJrk kn heathy and physically active residents enjoy tetter access lo education. emplonent and leamsng opportunilies to enable them to dream big and actmpve great thiThJs.
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 IAARCH 2023 INCT'$ mission is to: Interact and WO wlh local communiis to enable eVerYne in our communities lo be heallhy. prosperous and happy. INcf$ values are Respect Trust Inlegrty Passion Partnershio 3. INCT'S ObiKll¥es and Acllvili•s . INCT WIH delIr men181 wellbeing and physical heallh seNces lo heath irwualities. . INCT will devet¢w p1¢al assets to provide locality- based makiThJ them asSIb to all sections of the communty. . INCT will deliver employment arKI enterprise support ser¥ices.' weware and debt ad¥tse lo tsckle povety. . INCT will engage local reshfjents, businesses. s11 enterprises and key StaehderS to consult upon and improve servw. 4. Achl•vem•nts and Perforniance INCT has secured a substantial grant of European Funding to undertake refurbishment to a grade 2 listed building in Bradford City Centre- Guardian House (old Registry officel. The works have now been completed in partnership with Bradford Council and Bradford Care Trust, who have agreed to become an anchor tenant at the property. We have also secured othertenants and are confident of letting all spaces available in due course. 5. Fundraising Policy During the year we have received aid Spent a European grant to enable refurbishment of Guardian Hwse. We also received a grant from Architectural Heritage Fund. Disabled Fauftbes Grants and some emergency COVID grants during the year. FurthermorE. we have recently secur&J a large grant to deliver mental heath help from COMK Relief. Going forward, rt is dear Ihat the grant-makry en¥ironment conb'ThJes to be very diffiuJL bul we c(tinue lo k)ok for fundrai8ing 0nitieS so Ihat cawtsl works can be rried out at Guardian House as 11 as revenue I)dry lo supm w wsion PLsrp)se. 6. Related Parties INCT remains committed as 8WayS to woth in partnership hx81 statutw and wluntary agencies. as this avoids dUptIOn and maximises value for money for funders and the community al large. We seek parlnership wih other agencies in Bradford to provide added value services lo cJr users arnl bring much needed inward investhient to INCT. Page 3
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 7. Ri$k Management The Board wntinues to manage risks cm a reguk¥ basis to protect the Organisatic and service users and mnI81n5 a risk register. 8. Resgrves Policy The Trustees have examird the companls requirements for reserves in Iyhl of the main risks to the company. 9. Responsibilities of the Directorstrrustees Company law requires the director5 to prepare finanoal slemenls fc eath financial year that give 0 true and fair view of the slate of the affairs of the company as al Ihe balarKe sheet dale arhd of its incoming resources and application of resources. induding income and expenditure, for the financial year. In prepariNJ those finano81 statements. Ihe Dyectors Sh¢ folk)w best practice arHI: a} Select suitst4e accounlir•3 polioes and then aWy them consistenlly. bl Make judgements and estNnates ihal are reasonable arKI WLKYent: cl PreDare the finanal statements on a aoina concem tsis unless it is inDroDriate to assume that the company wll continue on thal basis. The Directors are respowble for maintsining proper COuntl9 records disdose with feasonable accuracy al any lime INCTS financial pogticm. and to enab them to ensure that the financial statements comply wth ihe Companies Act 2006. The Directors a also responsible for safeguarding the 8ssets of the company and. hence. for tsking #Sonae steps for the VentIOn and detection of fraud ots irregularities. In accordance with company law. as the ¢Thmpan5 OIre¢l$, T ceitfy that. a) So far as we are aware there is no leVant informat#)n of lhthich the compan$ accountant5 are unaw. and b) As the Directors of Ihe CoMpY v have tsken al the steps ihat we h1 to have taken in order lo make ourSee$ aware of any rekvanl informatrjn and lo estsblish that comDanVs aecounlanls are aware of that infoath"on. 10. Accounting Principles and Authorlsation The Financial Statements have been prepared in accordance the Slalemenl of Recommended Practice.. SORP IFRS 1021 and in xcordance with the ¥)ecial prowsions of Part 15 of the Cornpanies Act 2Ci)6 rdalry to small entits. and INcfs goverring douJments. App by the direclcys on 1 December 2023 and signed w its behaK uTrJer delegated OLthorty by: n St•¢lg Chair Page 4
Independent Examinerfs Report to the Directors and Trustees of Inspired Neighbourhoods Charitable Tnt Limlted for the year ended 31 March 2023 l Trport to the charivs trustees on my examination of the accounts of the Trust for the year ended 31st March 2023 whth are set out on pages 6 to 9. Respecdve responsibilltiès and basls of the report As the charivs trustees of the company {and also its directors for Ihe purp)se of the company law) . you are ffjsponsible for th8 preparation of the accounts in accordance with the quIrements of th8 Charities Act 2011 ar¥J the Companies Act 2[ {'th8 2006 ACV). Having satisfied myself that the accounts of the Trust a not required to be aLbJiied under Part 16 of the 2006 Act and are eligible for Independent ExamIrtIOn. I rert in respect of my examination of your charity's accounts as carried OLrt under sedion 145 of the Chariknes Act 2011 (Ihe 2011 A¢f). In caryirwJ out my examination I have followed the directions given by the Charity Commi$$ion under section 1495) (b) ofthe 2011 Act. Independent Examin•f$ Stat•m•nt l ¢onfim that l am qualified to uThkrtake trt examination because l am a member of the Association of Chartered Certified Accountsnts. which is one of listed bodies. I have completed my examinatK>n. I confinn that rn matter5 havo come to my attenlion in connection with the examination givirvJ me cause to believe: 1. Accounting record5 Vre rK)t kept in resp of the Trust as lUIred by sedion 386 of the 20C6 Act: or 2. The accounts do accord with th)se records., or 3. The accounts do mt compty the accounting requirnents of seCtn 396 of the 2006 Act other than any requirement that the accounts give a Inje and fair vievl which is not a matter considered as part of an irbJeperKlent examinalion" or 4. The accounts have t been prepared in aCcOrdar with the methods and prinCipS of the Statement of Recommende(I Practice for accounting and rert1ThJ by charities lapplicable to chavilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rewblic of IrelaTrJ (FRS 102)] I have M concems and have come acoss no otkr mattefs in connection with the examinatmin to which attention str¥Id b8 drawn in this rewrt in c*der lo enable a proper urKler5tandirNJ of the accoLJnts to b& rea¢hed. antha J Su¢¢l" Toro¥011 Dofftt L5mlt•d 1•3 St Ann'$ Plac• Pellon Lano Halifax. HX15R8 F.C.CA Dato.. 3 janu 2024 Pago 5
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Total Funds Total Funds Funds Funds Not•s Incom•: 1.OlJJ 85.687 156.686 44.409 Rents Received 156.686 157.686 157.686 130,096 ndttur•: Charitsblg adiwties Other costs 169.589 7,511 169,589 7,511 67,042 1,335 Total 17T.100 17T.11)0 68.377 Surplus for thè period (19.414) 61.719 Oth•r r•cogni$•d gains Fair value gain on property 275.692 Not movgffl•nt In fwbds (19.4141 119.414} 337.411 Total funds brought forniard 545.516 545.516 208.105 Total fund# carritid forward 526.102 526.102 545,518 The statement of finanaal activities ydeS all gains ond h)sses in the ar. Al income OUS expended derive Irom continuiTrJ acti¥iti8s. Page 6
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023 2023 Total Funds 2022 Total Funds Funds Funds Flx•d Assets Tangible assets 0.000 Curr•nt Assets Cash al bank Debtors 42.710 65239 42.710 65.239 64,867 Total Current A¥sets 107849 107,949 64.867 Llabllltles.. Amounts fall¥w or Iwr Total Currwrt Assets 15,978 15.978 1,588 91.971 91.971 63.279 Total Assets less Current Uabllthis 991.971 991,971 963.279 LIalItI&$. Amounts falliTh3 aft¥r one ye8r (465.8691 {465.869) {417,763) Total Mèt Assèts 526.102 526,102 545.516 Funds Unrestricted funds RestriLaéd lunds 526.IIy2 528.102 545,516 Total Funds 526,102 526.102 545516 The company is entitled to exemption from alIt SectKM 477 of the COMpS Act 2{ ts the year ended 31 March 2023. The fflembers have nol reqUId Ihe company to obtain an audl of rfs finala1 &alernts tor the year ded 31 Mar¢h 2023 in e0rd¥ wrth Se¢ticm 476 oftr Cn$ Act 2fAI6. The deCtOrS ackrk)vAedge their respcfflsibilities for.. al Ensuring that the company ke¢ps a¢counb"NJ words ¢omth with Se¢lions 386 and 387 of the Companies Act 2006 and bl Pparing financial statements whth gve a Iruè aFKI fraff Mew of the te of affaits ofthe company as al the end ol e8ch ffinartkAI ar arx1 of its profft or bss for each financial year in accordarr vAth th& wuirements of Section 394 and 395 and which otm$e compty th the requwements of Ihe Companies Act 2C#)6 relatiThJ to financol statements. so far as applb to the company. These financial staltsments have been prepared in accord viti the spla1 proyisicffis of Pt 15 of the Ccffjpanies Act 2006 rdaling to small compan$ aThl with Ihe Ch¥il*s SORP {FRS 102) leffeclive January 2015) The Finaal Statements were apFmed by Board of Tmstees cffi 19 Decènkn 2023 and sig18d its behalf by.. St••l• Chair Ptye7
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 counllng Polici•s Basis of ac¢¢untlng The financial statements have been prepared under the historical cost convention and are in accordance with applicab accounting standards. the Charitie5 SORP {FRS 1021 and the Charities Act 2011. Fund$ held by the Company Unrestricted funds represent funds received by the company which are available to the directors to apply for the general purposes of the company as set out in the goveming document. Restricted funds represent funds receNed for a specific purKX)se. Incoming r•sourus polici•s All incoming SoUrceS are included li the statement of financial activities when the charity is legally entitled lo the Irome and the amount can be quantified with reasonable araCY. Rwourus •¥p•nded policies Expenditure is accounted for on an 8rualS basis and proviSn is included in the financial statements for all known Ikqbilities at Balance Sheel dale. Irrecoverab VAT is attached to the specific expense incurred. Resour¢os Exp•nd Restricted Unr•strict4d Funds Funds Total Funds 2023 Total Funds 2022 Charitable actfv1o8. Project Costs Bank Charges Legal & Professimal Insurance Management Charge Repairs & Maintenance . Piints'ng, Postage and Slationery PoNr, Lirt & Heat 35.025 5.638 418 4,316 119 119 4.677 4.677 45.000 45.09) 1,463 67.354 169 589 45.050 67,354 169,589 19.039 67.042 Other: Accountar Loan Interest 700 6,811 7,511 &Jo 735 1,335 6.811 7.511 P8ge 8
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 3. FIX Assets R•valuatlon 01-Apr.22 In¢rease D•p'n for ygar Asat 31-Mar43 T•ngibl• Assets:. Guardian House 900,OCQ 900.10 D•btors Totsl 2023 Total 2022 Bradnel ei),000 60.000 Tr*J8 Debtor5 5.239 5,239 65.239 65239 5. Uabllltles duo withln one yw Restricted Unrestri¢ Funds Funds Total 2022 2023 Bank Loans Val Payable Accruals 14,658 820 14.658 388 500 388 1.200 15.978 15.546 Restricted Unrestricted Funds Funds Totsl 2023 Total 2022 6 Liabilities due after on• year INCIC INCIC Loan Bank Loan 251.438 251,438 124.086 50.000 243.677 214.431 214.431 465,869 465.869 417.763 6. Transactions wilh TrustMs No TNslee re1Ved any payThents thwing the r. 7. Revalualion of pmporty During the year no properties re revaluded.12022: the property GuardFan House was revalued from £624,308 to £900.000 provKling a revduation reserye of £275,692). Page 9