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 2025
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 2025
| 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 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 31st March 2025. 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:
-
the promotion of community participation in healthy recreation for the benefit of the inhabitants of Hull and the surrounding area by the provision of facilities for amateur boxing;
-
to help young people, especially, but not exclusively, living in Hull and the surrounding areas, benefit by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:
(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 2025
ACHIEVEMENTS 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 was finished by April 2024. The Centre has been able to flourish by expanding its charitable activities with a more extensive timetable of provisions, especially for youth work. New vocational qualifications are now on offer and learners have been enrolled on these since 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, computer and homework clubs, board games and crafting. The Youth Council meet monthly to share ideas for the club and are instrumental in helping to see some of them implemented.
The new build/second floor has enabled additional space for more varied sessions in smaller groups such as nutrition workshops, gym inductions and exam support.
In 2023, Vulcan teamed up with Giroscope to secure funds from the Comic Relief Sport for Change budget. This project was re-funded in September 2024, with Vulcan taking more of a lead role. This has enabled the continuation of 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, and are at risk of criminal exploitation. By facilitating sports-based sessions, community events and mentoring designed to implement long term change and help break down language barriers.
There are now both employees and volunteers helping to support various projects and activities which have continued and developed from previous years. 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. New and updated equipment which has been funded by The National Foundation of Youth Music in 2024 has expanded these facilities. 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 Crime Commissioner, 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. With the addition of the Hair and Beauty Salon within the second floor build, the extended subject offering within this sector has been added to the curriculum for both age groups.
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 to gain skills and qualifications used in the construction and woodwork industry. The use of this has extended to ReNew, which is an integrated drug and alcohol service for adults that provides an end to end service and support to anyone who may have a alcohol or drug issue or who are a family member/significant other of those with a drug and/or alcohol issue, and have begun to use the workshop for weekly session projects with the help of Vulcan Centre employees.
Vulcan has continued to provide Food Parcels to those who need them, approximately 40 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.
Page 2
The Vulcan Centre (Registered number: CE012565)
Report of the Trustees for the year ended 31st March 2025
FINANCIAL REVIEW
Principal funding sources
The main source of funding for the Centre in this period has been from the Youth Investment Fund, Comic Relief and National Lottery's Reaching Communities fund. Money has also been earned from education contracts and from subscription payments for gym usage.
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 2025, represented by the general fund balance, were £278,546 (2024 - £181,399).
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 R Lewis
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
Page 3
The Vulcan Centre (Registered number: CE012565)
Report of the Trustees for the year ended 31st March 2025
REFERENCE AND ADMINISTRATIVE DETAILS Bankers
Lloyds Bank plc 48 High Street Newmarket CB8 8LF
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 30th January 2026 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 2025.
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:
-
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
-
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
-
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
30th January 2026
Page 5
The Vulcan Centre
Statement of Financial Activities
for the year ended 31st March 2025
| 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 Transfers between funds 17 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 5,813 275,423 281,236 6,720 184,261 - 190,981 90,255 117,780 208,035 1,451,366 1,659,401 |
Restricted funds £ - 465,587 465,587 - 352,307 - 352,307 113,280 (117,780) (4,500) 24,500 20,000 |
2025 Total funds £ 5,813 741,010 746,823 6,720 536,568 - 543,288 203,535 - 203,535 1,475,866 1,679,401 |
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 |
The notes form part of these financial statements
Page 6
The Vulcan Centre (Registered number: CE012565)
Balance Sheet
31st March 2025
| 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 £ 1,380,855 18,871 287,042 305,913 (24,117) 281,796 1,662,651 (3,250) 1,659,401 |
Restricted funds £ - - 20,000 20,000 - 20,000 20,000 - 20,000 |
2025 Total funds £ 1,380,855 18,871 307,042 325,913 (24,117) 301,796 1,682,651 (3,250) 1,679,401 1,659,401 20,000 1,679,401 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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
-
(b) preparing financial statements which give a true and fair view of the 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 Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
The Vulcan Centre (Registered number: CE012565)
Balance Sheet - continued
31st March 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 30th January 2026 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 2025
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Interest element of hire purchase payments paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Capital grants received Net cash (used in)/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 |
2025 £ 117,093 - (618) 116,475 (150,867) 117,780 (33,087) (3,000) (3,000) 80,388 226,654 307,042 |
2024 £ (158,138) (8) (618) (158,764) (777,890) 799,362 21,472 (3,000) (3,000) (140,292) 366,946 226,654 |
|---|---|---|
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 2025
| 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 |
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 203,535 | 603,392 | ||
| Adjustments for: | ||||
| Depreciation charges | 39,979 | 38,021 | ||
| Interest paid | - | 8 | ||
| Interest element of hire purchase and finance lease rental payments | 618 | 618 | ||
| Capital grants received | (117,780) | (799,362) | ||
| Increase in debtors | (16,091) | (306) | ||
| Increase/(decrease) in creditors | 6,832 | (509) | ||
| Net cash provided by/(used in) operations | 117,093 | (158,138) | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1/4/24 | Cash flow | At 31/3/25 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 226,654 | 80,388 | 307,042 | |
| 226,654 | 80,388 | 307,042 | ||
| Debt | ||||
| Finance leases | (9,250) | 3,000 | (6,250) | |
| (9,250) | 3,000 | (6,250) | ||
| Total | 217,404 | 83,388 | 300,792 |
The notes form part of these financial statements
Page 10
The Vulcan Centre
Notes to the Financial Statements
for the year ended 31st March 2025
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 2025
| 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 Other grants 4. RAISING FUNDS Raising donations and legacies Bid writing 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ Youth education and activities 490,725 |
2025 £ 6,940 493 (1,620) 5,813 2025 £ 73,928 667,082 741,010 2025 £ 148,431 229,297 38,867 250,487 667,082 2025 £ 6,720 Support costs (see note 6) £ 45,843 |
2024 £ 12,110 316 - 12,426 2024 £ 75,188 901,599 |
2024 £ 12,110 316 - |
|---|---|---|---|
| 12,426 | |||
| 976,787 | |||
| 2024 £ 799,362 11,521 34,101 56,615 |
|||
| 901,599 | |||
| 2024 £ 3,600 Totals £ 536,568 |
continued...
Page 12
The Vulcan Centre
Notes to the Financial Statements - continued for the year ended 31st March 2025
6. SUPPORT COSTS
| SUPPORT COSTS | |||||
|---|---|---|---|---|---|
| Youth education and activities NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Depreciation - assets on hire purchase contracts and finance leases INDEPENDENT EXAMINERS' REMUNERATION |
Finance £ 875 |
Governance costs £ 44,968 2025 £ 37,340 2,639 |
Totals £ 45,843 2024 £ 34,502 3,519 |
||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Fees payable to the charity's independent examiner for the independent examination of the charity's financial statements |
3,900 | 3,000 | |||
| Other financial services | 1,526 | 1,440 | |||
7. NET INCOME/(EXPENDITURE)
8. INDEPENDENT EXAMINERS' REMUNERATION
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2025 £ 268,097 14,681 15,103 297,881 |
2024 £ 207,105 12,710 15,077 |
|---|---|---|
| 234,892 |
The average monthly number of employees during the year was as follows:
| Management and administration Project staff/instructors Support staff Apprentices |
2025 4 4 2 4 14 |
2024 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 2025
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Youth education and activities Total EXPENDITURE ON Raising funds Charitable activities Youth education and activities Other Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12. TANGIBLE FIXED ASSETS Freehold property Equipment £ £ COST At 1st April 2024 1,263,748 28,010 Additions 117,780 33,087 At 31st March 2025 1,381,528 61,097 DEPRECIATION At 1st April 2024 21,997 12,705 Charge for year 26,805 9,198 At 31st March 2025 48,802 21,903 NET BOOK VALUE At 31st March 2025 1,332,726 39,194 At 31st March 2024 1,241,751 15,305 |
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Youth education and activities Total EXPENDITURE ON Raising funds Charitable activities Youth education and activities Other Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12. TANGIBLE FIXED ASSETS Freehold property Equipment £ £ COST At 1st April 2024 1,263,748 28,010 Additions 117,780 33,087 At 31st March 2025 1,381,528 61,097 DEPRECIATION At 1st April 2024 21,997 12,705 Charge for year 26,805 9,198 At 31st March 2025 48,802 21,903 NET BOOK VALUE At 31st March 2025 1,332,726 39,194 At 31st March 2024 1,241,751 15,305 |
ACTIVITIES 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 Motor vehicles £ 16,089 - 16,089 4,274 2,954 7,228 8,861 11,815 |
Restricted funds £ - 895,319 895,319 - 252,171 - 252,171 643,148 (777,890) (134,742) 159,242 24,500 Computer equipment £ 2,338 - 2,338 1,242 1,022 2,264 74 1,096 |
Total funds £ 12,426 976,787 |
||
|---|---|---|---|---|---|---|
| 989,213 | ||||||
| 3,600 382,213 8 |
||||||
| 385,821 | ||||||
| 603,392 - |
||||||
| 603,392 872,474 |
||||||
| 1,475,866 | ||||||
| Totals £ 1,310,185 150,867 1,461,052 40,218 39,979 80,197 1,380,855 1,269,967 |
||||||
continued...
Page 14
The Vulcan Centre
Notes to the Financial Statements - continued
for the year ended 31st March 2025
12. TANGIBLE FIXED ASSETS - continued
The net book value of tangible fixed assets includes £ 7,918 (2024 - £ 10,557 ) in respect of assets held under hire purchase contracts.
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Hire purchase (see note 16) Trade creditors Social security and other taxes Other creditors Accrued expenses 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Hire purchase (see note 16) 16. LEASING AGREEMENTS Minimum lease payments under hire purchase fall due as follows: Net obligations repayable: Within one year Between one and five years |
2025 £ 15,952 2,919 18,871 2025 £ 3,000 14,004 3,154 860 3,099 24,117 2025 £ 3,250 2025 £ 3,000 3,250 6,250 |
2024 £ - 2,780 |
2024 £ - 2,780 |
|---|---|---|---|
| 2,780 | |||
| 2024 £ 3,000 7,607 3,159 780 2,739 |
|||
| 17,285 | |||
| 2024 £ 6,250 |
|||
| 2024 £ 3,000 6,250 |
|||
| 9,250 |
Page 15
continued...
The Vulcan Centre
Notes to the Financial Statements - continued for the year ended 31st March 2025
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fund - property and equipment Restricted funds National Lottery - Reaching Communities Youth Investment Fund Immersion Capital Funding TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Designated fund - property and equipment Restricted funds National Lottery - Reaching Communities Comic Relief (Safe, Secure and Settled) Youth Investment Fund Immersion Capital Funding Hull City Council - Early Help Targeted Youth Provision TOTAL FUNDS |
At 1/4/24 £ 181,399 1,269,967 1,451,366 24,500 - - 24,500 1,475,866 as follows: |
Net movement in funds £ 130,234 (39,979) 90,255 (4,500) 103,780 14,000 113,280 203,535 Incoming resources £ 281,236 - 281,236 229,297 38,867 148,431 14,000 34,992 465,587 746,823 |
Transfers between funds £ (33,087) 150,867 117,780 - (103,780) (14,000) (117,780) - Resources expended £ (151,002) (39,979) (190,981) (233,797) (38,867) (44,651) - (34,992) (352,307) (543,288) |
At 31/3/25 £ 278,546 1,380,855 1,659,401 20,000 - - 20,000 1,679,401 Movement in funds £ 130,234 (39,979) 90,255 (4,500) - 103,780 14,000 - 113,280 203,535 |
||
|---|---|---|---|---|---|---|
Page 16
continued...
The Vulcan Centre
Notes to the Financial Statements - continued for the year ended 31st March 2025
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 183,134 (1,735) Designated fund - property and equipment 530,098 (38,021) 713,232 (39,756) Restricted funds National Lottery - Reaching Communities 48,579 (24,079) Comic Relief (Safe, Secure and Settled) 15,000 (15,000) Peter Harrison 9,588 (9,588) Youth Investment Fund 63,575 714,315 Humberside Police & Crime Commissioner 22,500 (22,500) 159,242 643,148 TOTAL FUNDS 872,474 603,392 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 93,894 Designated fund - property and equipment - 93,894 Restricted funds National Lottery - Reaching Communities 61,856 Comic Relief (Safe, Secure and Settled) 34,101 Peter Harrison - Youth Investment Fund 799,362 Humberside Police & Crime Commissioner - 895,319 TOTAL FUNDS 989,213 |
Transfers between At funds 31/3/24 £ £ - 181,399 777,890 1,269,967 777,890 1,451,366 - 24,500 - - - - (777,890) - - - (777,890) 24,500 - 1,475,866 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 |
|---|---|
continued...
Page 17
The Vulcan Centre
Notes to the Financial Statements - continued
for the year ended 31st March 2025
17. MOVEMENT IN FUNDS - continued
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 Comic Relief (Safe, Secure and Settled) Peter Harrison Youth Investment Fund Humberside Police & Crime Commissioner Immersion Capital Funding TOTAL FUNDS |
At 1/4/23 £ 183,134 530,098 713,232 48,579 15,000 9,588 63,575 22,500 - 159,242 872,474 |
Net movement in funds £ 128,499 (78,000) 50,499 (28,579) (15,000) (9,588) 818,095 (22,500) 14,000 756,428 806,927 |
Transfers between funds £ (33,087) 928,757 895,670 - - - (881,670) - (14,000) (895,670) - |
At 31/3/25 £ 278,546 1,380,855 |
|---|---|---|---|---|
| 1,659,401 20,000 - - - - - |
||||
| 20,000 | ||||
| 1,679,401 |
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 375,130 Designated fund - property and equipment - 375,130 Restricted funds National Lottery - Reaching Communities 291,153 Comic Relief (Safe, Secure and Settled) 72,968 Peter Harrison - Youth Investment Fund 947,793 Humberside Police & Crime Commissioner - Immersion Capital Funding 14,000 Hull City Council - Early Help Targeted Youth Provision 34,992 1,360,906 TOTAL FUNDS 1,736,036 |
Resources Movement expended in funds £ £ (246,631) 128,499 (78,000) (78,000) (324,631) 50,499 (319,732) (28,579) (87,968) (15,000) (9,588) (9,588) (129,698) 818,095 (22,500) (22,500) - 14,000 (34,992) - (604,478) 756,428 (929,109) 806,927 |
Resources Movement expended in funds £ £ (246,631) 128,499 (78,000) (78,000) (324,631) 50,499 (319,732) (28,579) (87,968) (15,000) (9,588) (9,588) (129,698) 818,095 (22,500) (22,500) - 14,000 (34,992) - (604,478) 756,428 (929,109) 806,927 |
|---|---|---|
| 50,499 (28,579) (15,000) (9,588) 818,095 (22,500) 14,000 - |
||
| 756,428 | ||
| 806,927 |
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.
continued...
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The Vulcan Centre
Notes to the Financial Statements - continued
for the year ended 31st March 2025
17. MOVEMENT IN FUNDS - continued
The Peter Harrison funding was for a full kit-out of the weights gym, replacing all of the old equipment.
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.
The Immersion Capital Funding was for capital expenditure.
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.
18. RELATED PARTY DISCLOSURES
Remuneration paid to key management personnel during the year amounted to £32,000 (2024 - £32,000).
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