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2024-03-31-accounts

REGISTERED COMPANY NUMBER: CE012565 (England and Wales) REGISTERED CHARITY NUMBER: 1176124

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31st March 2024

for

The Vulcan Centre

Sadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX

The Vulcan Centre

Contents of the Financial Statements for the year ended 31st March 2024

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 19

The Vulcan Centre (Registered number: CE012565)

Report of the Trustees for the year ended 31st March 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 31st March 2024. The trustees have adopted the provisions of Accounting 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 Objectives and aims

The objectives of the charity are:

(a) advancing in life and helping them to develop their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;

(b) advancing education;

(c) relieving unemployment;

(d) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.

Public benefit

The charity meets the public benefit criteria through the activities undertaken which include education, training and the advancement of health through amateur boxing, sport and recreational activities.

The trustees are of the opinion that they have complied with the duty in Section 4 of the Charities Act 2011 with regard to public benefit guidance published by the Charity Commission.

Page 1

The Vulcan Centre (Registered number: CE012565)

Report of the Trustees for the year ended 31st March 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

On 28th February 2023 The Vulcan Centre took over the activities, assets and liabilities of Vulcan Boxing Club (charity number 1165136).

In December 2022 the Centre found it had been successful in its bid to the Youth Investment Fund to gain £850,000 to build a new floor to the building, comprising: a new gym, office space, a function room, a large meeting room, one-to-one meeting rooms and staff rooms, a hair and beauty training salon, a staff kitchen and shower, toilets and a motor mechanics training garage at the side of the boxing gym. Construction began at the start of February 2023 and the Centre has been able to flourish and begin to expand its charitable activities. This project should be finished and ready to take its first learners and make use of the space by September 2024.

Youth activities have continued five nights a week. The Vulcan Active Youth Project has operated three nights a week and has approximately 120-140 participants on roll. Activities include team games, quiz nights, film nights, computer and homework clubs, board games and crafting. The Youth Council meet monthly to share ideas for the club and see some of them implemented. The new build/second floor featured regularly on the agenda. Some members met in between these meetings to discuss matters pertinent to their year group, such as work experience and volunteering opportunities, and exam support.

There are now both employees, and volunteers helping to support various projects and activities which have continued and developed from last year. The media suite, which was added to the facility in early 2023, provides opportunities for making digital music, dj-ing, t-shirt design, photography and video making, has received iMacs and Mac airs through the Humberside Police Crime Commissioner funding program to enable advanced participation. All these activities have been enabled by funds from a number of sources such as the Hull City Council Targeted Youth Fund, Paul Hamlyn Foundation, Humberside, and The National Lottery Community Fund, which allow us to staff these rooms at peak times.

The Vulcan Learning Centre has continued to deliver qualifications for young people attending its alternative education provision offering General Cookery, Sport related qualifications and Functional Skills in Maths and English. The number of 14-16-year-old learners has risen, as a significant number of local schools/academies and the East Riding of Yorkshire Local Authority have re-engaged with the Centre, looking to find placements for those who are struggling with mainstream schooling or at risk of permanent exclusion. Through the UKSPF fund, Exploring Opportunities, the learning centre has been granted a small portion of this provision to deliver the same courses to young adults aged 16 -25.

The workshop extension and refurb which was completed in late 2023 is continuing to be extremely popular amongst both young people and adults, with opportunities for people to gain skills and qualifications used in the construction and woodwork industry.

At the beginning of the year, Vulcan teamed up with Giroscope to secure funds from the Comic Relief Sport for Change budget. This has enabled working to support the most vulnerable and at risk young people in Hull, along with both asylum seekers and refugees. The project identifies young people and those new to the area that do not have a safe and secure place to live, facilitating sports based sessions designed to implement long term change and help break down language barriers.

Vulcan has continued to provide Food Parcels to those who need them, approximately 40- 50 parcels per day at peak times (collection only - supply dependent). The bulk of supplies are still purchased from FareShare Hull and Humber. Marks and Spencer's donate food three times a week. Vulcan also receives contributions from the general public and local businesses (particularly during the holiday seasons) for the food bank.

FINANCIAL REVIEW

Principal funding sources

The main source of funding for the Centre in this period has been from the Youth Investment Fund and National Lottery's Reaching Communities fund. Money has also been earned from education contracts and from subscription payments for gym usage.

Page 2

The Vulcan Centre (Registered number: CE012565)

Report of the Trustees for the year ended 31st March 2024

FINANCIAL REVIEW

Reserves policy

The policy of the charity is to keep reserves of around 5 to 6 months of staff wages should it lose funding or contracts. This has been achieved during this period.

A designated fund has been set up within unrestricted funds to represent the book value of the charity's fixed assets, so that the general fund balance represents the funds that are readily available to the charity. The fund balances can be seen in note 17.

The free reserves at 31st March 2024, represented by the general fund balance, were £181,399 (2023 - £183,134).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are invited to become involved and are appointed by the management committee, due to their standing in the community and recognised work with young people and vulnerable adults. The current trustees all work in positions of responsibility. One is a substance abuse worker, one is a mentor/youth worker, and the other is a retired serviceman from the RAF who completed 22 years of service and is a long-standing boxing coach with great links to the local community.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

CE012565 (England and Wales)

Registered Charity number

1176124

Registered office

42 Heron Street Hull East Yorkshire HU3 3PF

Trustees

E Mortimer D Grant A Parnaby (resigned 27/4/23) R Lewis (appointed 27/4/23)

The day-to-day management of the charity has been delegated to S Glazer.

Independent Examiner

Alan Brocklehurst ACA Sadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX

Bankers

Lloyds Bank plc 48 High Street Newmarket CB8 8LF

Page 3

The Vulcan Centre (Registered number: CE012565)

Report of the Trustees for the year ended 31st March 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 24th January 2025 and signed on its behalf by:

E Mortimer - Trustee

Page 4

Independent Examiner's Report to the Trustees of The Vulcan Centre

Independent examiner's report to the trustees of The Vulcan Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and 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 that the 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.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 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

  4. 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 concerns 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.

Alan Brocklehurst ACA

Sadofskys Chartered Accountants Princes House Wright Street Hull East Yorkshire HU2 8HX

24th January 2025

Page 5

The Vulcan Centre

Statement of Financial Activities

for the year ended 31st March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Youth education and activities
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Youth education and activities
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
12,426
81,468
93,894
3,600
130,042
8
133,650
(39,756)
777,890
738,134
713,232
1,451,366		 Restricted
funds
£
-
895,319
895,319
-
252,171
-
252,171
643,148
(777,890)
(134,742)
159,242
24,500		 2024
Total
funds
£
12,426
976,787
989,213
3,600
382,213
8
385,821
603,392
-
603,392
872,474
1,475,866		 2023
Total
funds
£
748,396
173,080
921,476
360
48,642
-
49,002
872,474
-
872,474
-
872,474

The notes form part of these financial statements

Page 6

The Vulcan Centre (Registered number: CE012565)

Balance Sheet

31st March 2024

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
1,269,967
2,780
202,154
204,934
(17,285)
187,649
1,457,616
(6,250)
1,451,366		 Restricted
funds
£
-
-
24,500
24,500
-
24,500
24,500
-
24,500		 2024
Total
funds
£
1,269,967
2,780
226,654
229,434
(17,285)
212,149
1,482,116
(6,250)
1,475,866
1,451,366
24,500
1,475,866		 2023
Total
funds
£
530,098
2,474
366,946
369,420
(17,794)
351,626
881,724
(9,250)
872,474
713,232
159,242
872,474

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

The Vulcan Centre (Registered number: CE012565)

Balance Sheet - continued 31st March 2024

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 24th January 2025 and were signed on its behalf by:

E Mortimer - Trustee

The notes form part of these financial statements

Page 8

The Vulcan Centre

Cash Flow Statement

for the year ended 31st March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Interest element of hire purchase payments
paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Cash acquired from Vulcan Boxing Club
Capital grants received
Net cash provided by investing activities
Cash flows from financing activities
Capital repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
(158,138)
(8)
(618)
(158,764)
(777,890)
-
799,362
21,472
(3,000)
(3,000)
(140,292)
366,946
226,654		 2023
£
57,478
-
(51)
57,427
(16,426)
246,194
80,001
309,769
(250)
(250)
366,946
-
366,946

The notes form part of these financial statements

Page 9

The Vulcan Centre

Notes to the Cash Flow Statement for the year ended 31st March 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 603,392 872,474
Adjustments for:
Depreciation charges 38,021 2,197
Interest paid 8 -
Interest element of hire purchase and finance lease rental payments 618 51
Net assets gifted by Vulcan Boxing Club - (746,896)
Vulcan Boxing Club debtors acquired - 3,978
Vulcan Boxing Club creditors acquired - (6,645)
Capital grants received (799,362) (80,001)
Increase in debtors (306) (2,474)
(Decrease)/increase in creditors (509) 14,794
Net cash (used in)/provided by operations (158,138) 57,478
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1/4/23 Cash flow At 31/3/24
£ £ £
Net cash
Cash at bank and in hand 366,946 (140,292) 226,654
366,946 (140,292) 226,654
Debt
Finance leases (12,250) 3,000 (9,250)
(12,250) 3,000 (9,250)
Total 354,696 (137,292) 217,404

The notes form part of these financial statements

Page 10

The Vulcan Centre

Notes to the Financial Statements

for the year ended 31st March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial 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) 'Accounting 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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure 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 classified 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 2% on cost
Equipment - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used 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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 11

The Vulcan Centre

Notes to the Financial Statements - continued

for the year ended 31st March 2024

2.
DONATIONS AND LEGACIES
Donations
Subscriptions
Net assets gifted by Vulcan Boxing Club
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Schools and similar income
Youth education and activities
Grants
Youth education and activities
Grants received, included in the above, are as follows:
Youth Investment Fund
National Lottery - Reaching Communities
Comic Relief
Humberside Police & Crime Commissioner
Other grants
4.
RAISING FUNDS
Raising donations and legacies
Bid writing
5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Youth education and activities
377,155		 2024
£
12,110
316
-
12,426
2024
£
75,188
901,599
976,787
2024
£
799,362
11,521
34,101
-
56,615
901,599
2024
£
3,600
Support
costs (see
note 6)
£
5,058		 2023
£
1,500
-
746,896
748,396
2023
£
-
173,080
173,080
2023
£
80,001
48,579
15,000
22,500
7,000
173,080
2023
£
360
Totals
£
382,213

continued...

Page 12

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

6. SUPPORT COSTS

Governance
Finance
costs
£
£
Youth education and activities
618
4,440
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
£
Depreciation - owned assets
34,502
Depreciation - assets on hire purchase contracts and finance leases
3,519
8.
INDEPENDENT EXAMINERS' REMUNERATION
2024
£
Fees payable to the charity's independent examiner for the independent
examination of the charity's financial statements
3,000
Other financial services
1,440		 Totals
£
5,058
2023
£
1,898
299
2023
£
2,160
116

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.

10. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management and administration
Project staff/instructors
Support staff
Apprentices		 2024
£
207,105
12,710
15,077
234,892
2024
4
3
2
4
13		 2023
£
21,181
901
1,201
23,283
2023
4
3
2
4
13

No employees received emoluments in excess of £60,000.

continued...

Page 13

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
723,539
Charitable activities
Youth education and activities
7,000
Total
730,539
EXPENDITURE ON
Raising funds
360
Charitable activities
Youth education and activities
33,373
Total
33,733
NET INCOME
696,806
Transfers between funds
16,426
Net movement in funds
713,232
TOTAL FUNDS CARRIED FORWARD
713,232
12.
TANGIBLE FIXED ASSETS
Freehold
Motor
property
Equipment
vehicles
£
£
£
COST
At 1st April 2023
500,840
13,028
16,089
Additions
762,908
14,982
-
At 31st March 2024
1,263,748
28,010
16,089
DEPRECIATION
At 1st April 2023
876
766
335
Charge for year
21,121
11,939
3,939
At 31st March 2024
21,997
12,705
4,274
NET BOOK VALUE
At 31st March 2024
1,241,751
15,305
11,815
At 31st March 2023
499,964
12,262
15,754
Restricted
funds
£
24,857
166,080
190,937
-
15,269
15,269
175,668
(16,426)
159,242
159,242
Computer
equipment
£
2,338
-
2,338
220
1,022
1,242
1,096
2,118		 Total
funds
£
748,396
173,080
921,476
360
48,642
49,002
872,474
-
872,474
872,474
Totals
£
532,295
777,890
1,310,185
2,197
38,021
40,218
1,269,967
530,098		 Total
funds
£
748,396
173,080
921,476
360
48,642
49,002
872,474
-
872,474
872,474

The net book value of tangible fixed assets includes £ 10,557 (2023 - £ 14,076 ) in respect of assets held under hire purchase contracts.

continued...

Page 14

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Prepayments
2,780
2,474
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Hire purchase (see note 16)
3,000
3,000
Trade creditors
7,607
6,589
Social security and other taxes
3,159
2,735
Other creditors
780
469
Accrued expenses
2,739
5,001
17,285
17,794
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
£
£
Hire purchase (see note 16)
6,250
9,250
16.
LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
2024
2023
£
£
Net obligations repayable:
Within one year
3,000
3,000
Between one and five years
6,250
9,250
9,250
12,250
17.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At
At 1/4/23
in funds
funds
31/3/24
£
£
£
£
Unrestricted funds
General fund
183,134
(1,735)
-
181,399
Designated fund - property and equipment
530,098
(38,021)
777,890
1,269,967
713,232
(39,756)
777,890
1,451,366
Restricted funds
National Lottery - Reaching Communities
48,579
(24,079)
-
24,500
Comic Relief (Safe, Secure and Settled)
15,000
(15,000)
-
-
Peter Harrison
9,588
(9,588)
-
-
Youth Investment Fund
63,575
714,315
(777,890)
-
Humberside Police & Crime Commissioner
22,500
(22,500)
-
-
159,242
643,148
(777,890)
24,500
TOTAL FUNDS
872,474
603,392
-
1,475,866		 2023
£
2,474
2023
£
3,000
6,589
2,735
469
5,001
17,794
2023
£
9,250
2023
£
3,000
9,250
12,250

Page 15

continued...

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund - property and equipment
Restricted funds
National Lottery - Reaching Communities
Comic Relief (Safe, Secure and Settled)
Peter Harrison
Youth Investment Fund
Humberside Police & Crime Commissioner
TOTAL FUNDS		 Incoming
resources
£
93,894
-
93,894
61,856
34,101
-
799,362
-
895,319
989,213		 Resources
Movement
expended
in funds
£
£
(95,629)
(1,735)
(38,021)
(38,021)
(133,650)
(39,756)
(85,935)
(24,079)
(49,101)
(15,000)
(9,588)
(9,588)
(85,047)
714,315
(22,500)
(22,500)
(252,171)
643,148
(385,821)
603,392		 Resources
Movement
expended
in funds
£
£
(95,629)
(1,735)
(38,021)
(38,021)
(133,650)
(39,756)
(85,935)
(24,079)
(49,101)
(15,000)
(9,588)
(9,588)
(85,047)
714,315
(22,500)
(22,500)
(252,171)
643,148
(385,821)
603,392
(39,756)
(24,079)
(15,000)
(9,588)
714,315
(22,500)
643,148
603,392

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fund - property and equipment
Restricted funds
National Lottery - Reaching Communities
Comic Relief (Safe, Secure and Settled)
Peter Harrison
Youth Investment Fund
Humberside Police & Crime Commissioner
TOTAL FUNDS		 At 1/4/22
£
-
-
-
-
-
-
-
-
-
-		 Net
movement
in funds
£
183,134
513,672
696,806
48,579
15,000
9,588
80,001
22,500
175,668
872,474		 Transfers
between
funds
£
-
16,426
16,426
-
-
-
(16,426)
-
(16,426)
-		 At
31/3/23
£
183,134
530,098
713,232
48,579
15,000
9,588
63,575
22,500
159,242
872,474

Page 16

continued...

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund - property and equipment
Restricted funds
National Lottery - Reaching Communities
Comic Relief (Safe, Secure and Settled)
Peter Harrison
B&CE Charitable Trust
Youth Investment Fund
Humberside Police & Crime Commissioner
TOTAL FUNDS		 Incoming
resources
£
214,670
515,869
730,539
48,579
15,000
15,000
9,857
80,001
22,500
190,937
921,476		 Resources
Movement
expended
in funds
£
£
(31,536)
183,134
(2,197)
513,672
(33,733)
696,806
-
48,579
-
15,000
(5,412)
9,588
(9,857)
-
-
80,001
-
22,500
(15,269)
175,668
(49,002)
872,474		 Resources
Movement
expended
in funds
£
£
(31,536)
183,134
(2,197)
513,672
(33,733)
696,806
-
48,579
-
15,000
(5,412)
9,588
(9,857)
-
-
80,001
-
22,500
(15,269)
175,668
(49,002)
872,474
696,806
48,579
15,000
9,588
-
80,001
22,500
175,668
872,474

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund - property and equipment
Restricted funds
National Lottery - Reaching Communities
Youth Investment Fund
TOTAL FUNDS		 Net
movement
At 1/4/22
in funds
£
£
-
181,399
-
475,651
-
657,050
-
24,500
-
794,316
-
818,816
-
1,475,866		 Transfers
between
At
funds
31/3/24
£
£
-
181,399
794,316
1,269,967
794,316
1,451,366
-
24,500
(794,316)
-
(794,316)
24,500
-
1,475,866

continued...

Page 17

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
308,564
Designated fund - property and equipment
515,869
824,433
Restricted funds
National Lottery - Reaching Communities
110,435
Comic Relief (Safe, Secure and Settled)
49,101
Peter Harrison
15,000
B&CE Charitable Trust
9,857
Youth Investment Fund
879,363
Humberside Police & Crime Commissioner
22,500
1,086,256
TOTAL FUNDS
1,910,689		 Resources
Movement
expended
in funds
£
£
(127,165)
181,399
(40,218)
475,651
(167,383)
657,050
(85,935)
24,500
(49,101)
-
(15,000)
-
(9,857)
-
(85,047)
794,316
(22,500)
-
(267,440)
818,816
(434,823)
1,475,866

National Lottery - Reaching Communities is for the expansion of the sessions to make positive changes in the local community and expand the reach of the community that can benefit from the sessions.

Comic Relief (Safe, Secure and Settled) is to use sport, as a tool for social change, to improve the lives of children and young people (up to 25 years) who are homeless or living in temporary accommodation to gain skills to lead safe and positive lives.

The Peter Harrison funding was for a full kit-out of the weights gym, replacing all of the old equipment.

The B&CE Charitable Trust funding was to pay for adult learners to undertake construction related qualifications in the company's workshop.

The Youth Investment Fund is for the building of an extension and new floor of the building to comprise a new gym, office space, a function room, a large meeting room, one-to-one meeting rooms and staff rooms, a hair and beauty training salon, a staff kitchen and shower, toilets and a motor mechanics training garage. Additionally, the grant is to cover core costs such as utility bills for the first year of operation.

The grant from the Humberside Police & Crime Commissioner is for the purchase of music equipment and to fund the provision of music lessons three times per week.

A designated fund has been set up within unrestricted funds to represent the book value of the charity's fixed assets. Capital expenditure from the Youth Investment Fund grant has been transferred to the designated fund.

continued...

Page 18

The Vulcan Centre

Notes to the Financial Statements - continued for the year ended 31st March 2024

18. RELATED PARTY DISCLOSURES

Remuneration paid to key management personnel during the year amounted to £32,000 (2023 - £2,667).

Page 19