Charity Number 1174417 INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Ccrfnpany NLKnLw .' 10924365 (Er￿j1￿d & 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 Incory￿rated 2151 August 2017 Ccynpany Limlted by Guarantee Registered Name Inspired Neighbouthood8 Charitsble Trust Limited R•gl8t•red Company Number 10924365 Reg18ter8d Chaflty N￿rnbor 1174417 Roglstsred Offlce Wnght Watson Ente￿rISe 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 Ras￿n¢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 CHAR￿ABLE 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 A￿U$l 2017 wlth tharty number 1174417 Accordingty. the Board of Directors ofthe CoM￿Y 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 20￿gr2023 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 $lralegK and bu8in8ss matters. A scheme of delegalM)n FS in place and day-tw ￿SPOn91b1lity for the provis￿n of the servlces rest wlth the ChKf Exxuli¥e supwted by the Sen￿r Management Team and Finance Ofker. The Chief Executive is responsible lor ensuring that INCT delNefs the serrfk￿ tr￿1 have been commisspjned or funded and that key pwformance indicators are meL Bank: NATWEST Bank, 1 Mark•t Straet, 8r8dft)rd B01 1EG Accountanl•: Tor8vell Dent Ltd, 14 St Ann's Pl￿. Pelk¥) Lane, Halrfax. HX15R8. 2. Vi¥lon. m1w1(￿ and V4luvJ Inspired Neighbwrhoods Charitable Trust IINCTI v￿On. MIssK)n and Values INCT'S ViSKJn is to create prosperous, cohesNe. and 3UStainable places to live and bKffk where healthy and physrAIty tive residents enjoy better &cess lo eduCa￿n, empk)ymen( and learnff￿ Op￿￿nitIeS to enable them to dream tig and ￿hleye great thrys. Our missM Is to inlerxl arnl work kKal communities to enab￿ every(me ￿ our ￿MMu￿rtIeS lo be F*althy, pn)sperous. and happy. p￿e2 INSPIRED NEIGHBOURHOODS CHARITABLE TRUST LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 INCT'8 Valu￿ am . Respect . Trust . Integrity • Passion . Partnership 3. INCT'• ObJ•ctlv8¥ •nd A¢tlvttl INCT'S Obje￿iveS and Activbi*s Inc￿.. . Delivaring hoallh and wellb&ng services tr* tathle health irnquafrt￿. • Developing physrAI assels to pn)vNJe l(fAlrty-based seThkes making them accessib18 to all sect￿n# ol the comrnunlty. • Provlding emptyment and enterprlse support ser4lces, wellwe. and debt adwce to tsckle poverty. • Engaging IcKal re$idenl8. iw5ines$8s. social enteryi'ses. aTrJ key stakehoklern to C4JnsuX upon and improve sarvices. 4. Achi•voments and Porfomwn¢• Ouring the year. INCT 8ch*ved significant mlestone8 that exemplfy our cy)mmrtment to SUPF4Yting Iccal communities and m8ximi&ng th& use of physie41 assets for community t*nefit The refurbishment of Guardkgn House. 8 Grade11 IK8ted buikling in 8radford Cty Centre, has b8en successfulty completed. Thi¥ project, 5UPPJrted by 8 substan1181 grant of European Funding. was delivered in partnership with Bradlord Council and Bradford District ca￿ Trusl, who rK>w sèrNe 8$ our an¢hor tenants. INCT'5 serv￿￿￿ are alw operating Irom Guardian Hc￿Se, 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 serv￿5 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 I￿1h 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 col1atorat￿￿S ￿th other agenci85 in Bradford lo provide added value se￿Ice5 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. Re￿rIeS 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 Make judgements and eslimales that are reav4)nable and pr￿ent., ) Prepare the financial 81atements on a 9ing C4)n￿M baJKs unless it is inappropriate to assume that the company will conllnue on that basis. The Directors are reswnsIb￿ foi maintaining proper xcounting records whth disclose reasonable acGuracy al any time INcfs finanGial pJsits'on. and lo enable them to ensure that the financial 8talemenls compty with the Companies Act 20C6. The tlirectors are also responsible for safeguarding the assets of the company and, hence, for taking reasonable Steps lor the prevenlKJn and deleclion of fraud and other irregularities. In accordance ￿th company Iww, as the companys Threctors. ￿ certify that al So fw as we are aware there no relwant infomiati￿ of *thich the 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 responsibil￿e$ tr. a) Ensuring that the cornpany keeps accounb.ng record5 whth compty s￿n5 386 and 387 of the Companies Act 21))6 and bl Preparing financlal slalernents wh￿h 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 Compan￿5 Act 20Cfi relallng to financial statements, so far as applicatle to the company. These ffftancial stslements have been prepared in acctydance wtth the speckql provi￿0￿$ 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 accoUn￿ng 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•our￿8 Exp•nd•d Rest￿t•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 Br￿n8t 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 E￿pety Guarrfi* House vras rev81￿1 from £624,3()8 to £900,000 providirg a revduation ￿SerVe of £275.6¥2). Prye9