Charity Number 1174417 INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Ccrfnpany NLKnLw .' 10924365 (Erj1d & Wales) Company Limited By Guararrtgo
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED CONTENTS PAGE Pag8 Legal and Administratwe Information Truste88 Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes lo the Accounts
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED LEGAL & ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Incoryrated 2151 August 2017 Ccynpany Limlted by Guarantee Registered Name Inspired Neighbouthood8 Charitsble Trust Limited R•gl8t•red Company Number 10924365 Reg18ter8d Chaflty Nrnbor 1174417 Roglstsred Offlce Wnght Watson EnterISe Centre 40 Ajbion Road Bradford 8D10 9PY Dlreclorn & Tru8leo• MAJBregr Z Hussain L Mairs J Steele J Ahfflad T Ahmed S Kouser Res)ned 13 September 2023 Rasn¢d 20 Soptember 2023 Appolnted 20 September 2023 Appointad 20 Sèptamber 2023 Appointed 20 September 2023 Secretary N Qureshi Resigned 13 Awl. 2023 Bankers NatW85t Bank Indepndent Examiner Torevell Dent Limited 1-3 St Ann's Place Pellon Lane Halifax HX15RB Page 1
INSPIRED NEIGHBOURHOODS CHARABLE TRUST LIMrrED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 1. Structurn. Govgman¢e and Managèment Instwred Neightxwrhoods Chari13tl8 Twst (INCT) is a Lynpany limiled by guarantee incorporated on 24th August 2017 wrth company number 10924365 . The company was estsblish8d under a Memorandum and Arfides of Asscaatth vthich fom INCT'S 'governing thtuments". INCT 18 also a charity registereAI on 24 AU$l 2017 wlth tharty number 1174417 Accordingty. the Board of Directors ofthe CoMY are 8180 its trustees for the purpose of charity law, however. Ihreughoul this report they are collectivety referred to as'Directors'. Tho Dlrectorn: Date Appolnted: Date RMlgnod: M A J 8rearley Z Hussain L Malr8 J Steele J Ahmad T Ahmed S Kou591 31101r2019 31101r2019 CE102r2019 31101r2019 20109r2023 20gr2023 20109r2023 13109r2023 20109r2023 The Board of Directors 18 re8ponwble for the strategie direction and sound overall managemont of INCT. The Board ot Director3 h88 memtern from a variety of professional backgrounds and experien of Heallh, Asset Managgmenl. Communty Developynent and Economy relevanl to INcf3 ethos and wo. The Directors meet al>out every 6 to 8 weeks to diKu88 and decide upon $lralegK and bu8in8ss matters. A scheme of delegalM)n FS in place and day-tw SPOn91b1lity for the provisn of the servlces rest wlth the ChKf Exxuli¥e supwted by the Senr Management Team and Finance Ofker. The Chief Executive is responsible lor ensuring that INCT delNefs the serrfk tr1 have been commisspjned or funded and that key pwformance indicators are meL Bank: NATWEST Bank, 1 Mark•t Straet, 8r8dft)rd B01 1EG Accountanl•: Tor8vell Dent Ltd, 14 St Ann's Pl. Pelk¥) Lane, Halrfax. HX15R8. 2. Vi¥lon. m1w1( and V4luvJ Inspired Neighbwrhoods Charitable Trust IINCTI vOn. MIssK)n and Values INCT'S ViSKJn is to create prosperous, cohesNe. and 3UStainable places to live and bKffk where healthy and physrAIty tive residents enjoy better &cess lo eduCan, empk)ymen( and learnff OpnitIeS to enable them to dream tig and hleye great thrys. Our missM Is to inlerxl arnl work kKal communities to enab every(me our MMurtIeS lo be F*althy, pn)sperous. and happy. pe2
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 INCT'8 Valu am . Respect . Trust . Integrity • Passion . Partnership 3. INCT'• ObJ•ctlv8¥ •nd A¢tlvttl INCT'S ObjeiveS and Activbis Inc.. . Delivaring hoallh and wellb&ng services tr tathle health irnquafrt. • Developing physrAI assels to pn)vNJe l(fAlrty-based seThkes making them accessib18 to all sectn# ol the comrnunlty. • Provlding emptyment and enterprlse support ser4lces, wellwe. and debt adwce to tsckle poverty. • Engaging IcKal re$idenl8. iw5ines$8s. social enteryi'ses. aTrJ key stakehoklern to C4JnsuX upon and improve sarvices. 4. Achi•voments and Porfomwn¢• Ouring the year. INCT 8chved significant mlestone8 that exemplfy our cy)mmrtment to SUPF4Yting Iccal communities and m8ximi&ng th& use of physie41 assets for community tnefit The refurbishment of Guardkgn House. 8 Grade11 IK8ted buikling in 8radford Cty Centre, has b8en successfulty completed. Thi¥ project, 5UPPJrted by 8 substan1181 grant of European Funding. was delivered in partnership with Bradlord Council and Bradford District ca Trusl, who rK>w sèrNe 8$ our an¢hor tenants. INCT'5 serv are alw operating Irom Guardian HcSe, which has reKhed full occupancy with a mix of tenants. ensunng the buikjing is fvlty utilised lo beneflt the Communty. In addltion, INCT took over the marwerrthi of t1 Thornbury Centre folbwing the Ih]uklatKrf) of the charity that previously operated it. Through dilKJenl efforts. we hav8 restored the centre to full fun¢li)nah"ty and now delNer a range of our serv5 from the site. This management ha5 enabled us to retain a vital community asset and expand our suppart to local residents. By 8ub8idising the running costs through income genefated from our services and plvale renlals. we have ansured this important place of community gathering remain5 accessit4e to the public. The8e achievements reflect our dedicatM to communty impact. sustainabilty. and InncNatkn in 6grvre delivery. S. Fundralslng Pollcy Going forward, it Is clear that the grant-making enwronment continues to te very chalenglng. However, we persist in seeking fundraising OPF(Jrtunilies lo supwrt both captsl works al Guarrlian House and revenue fundirvj to advance our vision and purrx Page 3
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
6. Rolated Part108
INCT remains committed to WOTking In partnership I1h Ictal stalulory and voluntsry agenoes to avthl duplution and
maximise value ft)T money for funders arm1 the tt)mmunity at large. We actwdy seek col1atoratS th other
agenci85 in Bradford lo provide added value seIce5 to our 5ervr users and attract much needed mrnrd Investment
to INCT.
7. Rl8k Management
The Board conts.nues to manage risks on a regukir basis to protect ihe organisalM)n and service users and maintains
a risk register.
8. RerIeS Pollcy
Ttte Trustees have examined the tt)mpaws requirements fcy resenies in light of the main nsks to tre organi981ion.
g. Respon8lbllltlo• of the D1rect
Independent ExomineVs Report to the Directors and Trustees of INSPIRED NEIGHBOURHOODS CHARITABLE TRUST UMITED for the year ended 31 March 2024 I report to the charity's tnjslees on my exarninatiLYi of the accounts of Trust for the year ended 31st March 2024 which are set out on pages 6 to 9. R•8pective r•sponsibilitiH and b•siJ of th8 rnport As Ihe charity's trustee5 of the company (and also ils director5 for the purp)se of the company law) yiw are responsible for the preparalron of the actounts in 1rdance the requirements of the Charities 2011 and the Companies Act 2006 Ilhe 2¢X6 Acri. Having satssfEd myself that the accounts of the Tnjst are not required lo be audiled under Part 16 of the 2006 AGt and arè éllgible Ind8pend8nt Examinatlon. I rèp)rt In Spect of my éxamination of YOUT ch8ritls ac£cJnts as carried out under $e¢tion 145 of the Chanbes Act 2011 {Ihe 2011 Arfl. In carryry out my examinalion I have lollowed the dlrections glven by the Chaiity Commisskn) under section 14515) (b) of the 2011 Act. Ind•p•nd•nt Ex•mln•rf• St•t•bMnt l ¢onfimi that l am qualified to undertake the examination bee l am a memb8r of the Assoclallon of Chattsred Certified Accountsnts, which is one of the listed bcéw. I have completed my examination. l ¢onfim that no matters have come lo my attention in connection vAth the examination oiving me cause lo bel.. 1. Accountlng records were not kept In respect of the Trust as required by section 386 of the 2006 Acl.. or 2. The accounts do not accord wrth those records. 3. The accounts do not compty wrih the accounting ffjquirements of seC)n 398 of the 2006 Act olher Ihan any requirement that the coUnts grve a'true and fair wevl is nol matter consklered as part ol an Independent eXamin8tjn, or 4. The a¢¢ounts have not been prepad in a¢cordance with the methods and princple5 of the Statement of Recommend&J Pr8¢ti¢e for ac£ounb'ng arMI reporting by charities lappllcable lo charllles prerIng thelr xcounts In [dance with the Finanoal Repoth'ng Standard apFAuble in the UK and Reput[C of Ireiwd IFRS 102)1 I have no nCernS and have &ross no olher matters in ConneCtM the examlnation to hthich attention shoukl te drawn in this report in or(ler to enabl8 a proper ur#JerstsrKllng of the OUnts to be reached. Samantha J Sutcllffe F.C.CA Tor•v•ll D•nt Llmlted 14 St Ann'• Pl•¢• Pèllon Lano Halifax, HX1 SRB 2q/i/2 Page 5
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 laARCH 2024 2024 2023 Total Funds Total Fund• Fund• Fund• Grants Rents Recelved S,641 230.825 5,641 230,825 156,686 Totsl 236,466 167,686 Charitable activities Other c03ts 178.709 8.998 178,709 8,998 169,589 7,511 Tolal 187,707 187,707 177.100 8urplu• lor th• perltxl 48.759 48,759 {19,4141 other r8cognl8od galn8 Fair value gain on property Net movement In fund8 48,769 48,769 (19,4141 Total funds brought forwavd 526.11r2 526,102 545,518 Total fund• carrfed forward 574.881 674,861 626.102 The statement of finala1 aclivilies indudes all gains aTrJ105ses wi the year All ire fe80urces exFerhJed derlve from contlnulng a(*1vIt. Page 6
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED BALANCE SHEEr FOR THE YEAR ENDED 31 MARCH 2024 Restrlcted Unr•stricted Funds FUNIS 2024 Total Funds 2023 Total Fund# Flxod Assets Tangib18 a5sgts 900.000 0000 Current AJ8ets Cash at bank Debtors 64,565 42,710 73,092 Total Current A889ts 137,657 137,657 107,949 Ll8blllll•s: Amounts faling due within one >wr Total Curr•nt A•i•ts 15.978 109,514 109.514 91,971 Total A•80ts Currnnt Ll•bllldos 1.009,514 991,971 Uabllltl••: Amounts falling due after year 1434.653) 1434.653) I465,9> Tot•1 Net A880ts 574 861 526 102 Fund• Unreslrrled funds RestriGled funds 574,881 574.861 526,102 Total Fund• 574 861 674 861 The Gompany rs entillgd lo exempb'on from audrt urKler Secth)n 477 of the ComFonie5 Act 20C6 for the year ended 31 MarGh 2024. The m8mb8rs have not required the o)mpany lo ol*ain an audit of ivs financial stalements lor the year ended 31 March 2024 In accordance wfth Section 476 01 the Companies Act 2008. The director5 acknovAedge thLwr responsibile$ tr. a) Ensuring that the cornpany keeps accounb.ng record5 whth compty sn5 386 and 387 of the Companies Act 21))6 and bl Preparing financlal slalernents whh give a true arKJ fair view of the stsle of affairs of the company a5 at the end of each flnandal year and of tts proflt or loss for each financial year in accordan Trmlh the requlrements of Section 394 and 395 and which otherwse cornr4y the requirements of the Compan5 Act 20Cfi relallng to financial statements, so far as applicatle to the company. These ffftancial stslements have been prepared in acctydance wtth the speckql provi0$ of Part 15 of the Companies Art 2006 rdating to small ¢ompanies arKI wlh the Chartbes SORP {FRS 1021 {effectiva January 20151 The Financial Statements were approved by the rd of Tntslees on . tehalf by.. 3M1rJ)25 . and signed on its Ji)hn St8810 Chair Page 7
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 PAARCH 2024 1. A¢countln9 Pollcl## B••i• of ac¢ountlng The financial statements have been prepared under the historical cost conv8ntion and are in wlth appllcable accoUnng standards. the Chariiles SORP (FRS 102> and the Charities Act 2011. Funds held by th• Company Unr8slrict8d funds represent funds received by the company which are available to the directors to apply for the general purposes of the company as sel out In the goveming document. Restricted lunds represent funds received for a sF£af purpose. In¢ornlng r••ourc•• pollcl•• All incoming rèsources are induded in the statement of financial activit$ when the Chorfty Is18gally entrftled to the income ar the amount can be quants'fied with reasonabk accuracy R•Jourc•8 •xp•nd•d pollcl•8 Expenditure is accounted for on an acwals basis and wovi5ion is included in the financial statements for all kn¢)Tr liabilities at the Balance Sheet date. Irrecoverat4e VAT is attathd to the specffic expense curred. 2. RO•our8 Exp•nd•d Restt•d Fund• UDr¢slrfcted Fund8 Total Fund8 2024 Totsl Fund• 2023 Charltsbl• athltl•8: Prelect Costs Bank Charges L8931 & Prof8S8lonal Insurance Management Charge Repairs & MainlenarKe Printing, Postage ar¥J Stationery Pother, Light & Heat 2,560 119 3,365 4,677 45,0 45,050 1.463 67,355 419 3.619 419 3,619 45.(KKI 21,3(N) 1.289 1(,7 21.300 1,289 1(6,700 Other. Accountancy Loan Interest 7CK) Page 8
INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3. Flxed Assets R•valuatlon Dep'n for ygar 01-Apr-23 31-Mar-24 Tanglbla A8sets:. Guardian House 0,000 900,000 4. D•blor• Re•trld•d Unre8trfctod Totsl 2024 Total 2023 Brn8t 60,0 60,000 Trado Debtors 13,092 13,0¥2 5,239 S. Llabllltl•8 du• h1 on• y•ar R•gtrl¢t•d Lknrastrlctod Fund• Fund• Total 2024 Tol•l 2023 Bank Loans Val Payable Accrua18 14,658 10,385 3,11XI 14,658 10,385 3,1(K) 14.658 820 Restrlcted Unmtrkt•d Funds Fund• Total 2024 Total 2023 6 Llabllltles du• aftof one ywr INCIC INCIC Loan Bank Loans 235,223 235,223 251.438 199.430 199.430 214,431 6. Tran¥acltong with Tru8tee8 No Trustee received payments during the year. Revaluatlon of property During the year no proFerties we revaluded, (2022: the Epety Guarrfi* House vras rev811 from £624,3()8 to £900,000 providirg a revduation SerVe of £275.6¥2). Prye9