COMPANY REGISTRATION NUMBER: 09082527
cHARy REGISTRATION NUMBER: 4178978
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FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 30 AUGUST 2024 PAGE TnJ8tees' annual report {inwrporating the directors report) Independent auditovs report to the members Statement of flnanclal actNitiés (induding inwme and expendtture account) Ststsment of financial positlon 10 11 ststement of cash flows 12 Notss to the financial ststements 13 The followlng pages do not forni part of the flnanclal statsments Detailed ststement of financial actIveS 20
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 30 AUGUST 2024 The trustees. who are also the directors for the purposes of comparry I. present their port and the rinancAal statements of the charity for the year ended 30Augusl 2024. REFERENCE AND ADMINISTRAfivE DETAILS Règisterod charfty namo Future Horoons Leeds Charlty rngistration number 1178978 Company registrntion number 09082527 PrineipaJ offi¢e and rog5st•Tod Unit 1 office 2 Wyther Lane rk5tall Leeds LS5 3BT United lfjngdom THE TRUSTEES J R Robson M Handseombe S Morgan AUDITOR wtne & Co Chartered accountants & staiutory audkor 20-22 Bridge End LS14DJ STRUCTURE, GOVERNANCE AND MANAGEMENT Nature tsf governing document The governing document is the Memorandum and Artides of Association dated 7 June 2018 as revised and lodged 81 CompaniÈs House. Arrangements for setting key management personnel remuneration Key management personnel ts rogarded as beng Sarah Wllrams whose rernuneralion is set by the
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORTI YEAR ENDED 30 AUGUST 2024 OBJECTIVES AND ACTIVITIES The charity's objects are for th8 public benefit lo relve need an¢J prgserve heath of those wllh physicallleaming disability but not limited lo, young adults. through the development of individual capabiliti¢&, competence and understanding for Ilfe. Future HoTizon$ Leeds is a charitable organisalion providing per60nrycenlT•d day provision for young adujis aged 19-25 with complex learning and communication drfficutties. We aim to provide a hollstk, p&rson<entred servlce that prioritises the well-beirrfJ and personal progress of everyone attending. Future Horizons Leeds IFHLI began in 2014 in response to Ihe perly8 need for hlgh quality care and gdugation for young adults with complex needs once they leave sp¢clal schc*Jl at 19. Weekday PTOVi5ion opened in 2016 and ¢urrenty FHL operate¥ 6 d8y$ per week 50 weeks ol Ihe ygar. FHL wa8 granted charity ststus in June 2018. The Trustees Th$ trustees who sel the $trategic direction of FHL have considerable expertise in special n88d8:. Michelle Handscombe is the Principal of a special school with over 20 years, expertence of working in specral wjucation., Shelley Robson has a business bathground with experience In a senN)r manager lor CAMHS and is also Mum lo one of FHL'S clients,. Sue Morgan, now retired, 1$ a qualrfied lea¢her with experience in leaching SEN and 12 years as a senior mansgtsr in the local aulhorlty l$ading on SEN Statutory assessment and finance. This hvJh level of knowledge and experign¢e enable th• trustees work dosely with Ihe staff to ensure provisK)n is of the hlghest qualty. The Tru$taes gfve due regard to the guidance issued by th¢ Charity Comrni8$itsn on public ben?fft In all dKi5ions rrade regarding thg running of FHL
FLrruRE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (contlnueoj YEAR ENDED 30 AUGUST 2024 ACHIEVEMENTS AND PERFORMANCE FHL operates out of thTee buildings, one in Kiikstajl and tsyo Sn South Leeds. Both bU11ng9 are fvlty accessib, adapted to the rtaeds of our students and are bright pleasant environments following considerable investrnent by the fruslee5. The buildings are on ? len year eonmercial lease. FHL has a Commercial kitchen, art and sensory rooms as well as all the approprte care facilities quired for young advlts with complex needs. FHL has high staff to student ratios that enable the provision of bespoke, per8on-cenlre<l a¢tivi1Ses and goals, helping cfients to communicate effectNely. make ch91$, aftd psrticipale in all 8Ctivrf£ie5 8¢¢ording to their personal abilities and aspiratlon$. The m4ority of FHL stsff are re¢ruiled with experb$& in SEN," rnany of them come from the special s¢hool and Ca se¢tor5 and already know and understand the needs of Dur students. Those that dg not are provided wth the appropriate training. FHL ertsures trtat all mandatrjry policies and ProdureS ¥u¢h as safeguarding. health and safety and managing medicines are in ptac¢ and regularly updated. FHL has four vehicles which we use to enable our students to access spe¢i81ist f8cilitiès off-site and PTovide a range of outdoor activities which are IntÈgrdl to programmes focusing on devèltsping independence and social skills and experiences within the cornrnunty. Capacity and SeNice Users FHL has capacity to make provision fcT about 50 learners. Th& (s soMewhatllexib]e ss it is dependent on the needs of the young people. Admission to FHL 1$ b¥sed on being named in a young person's EHCP andlor an assessment by Adutt Soci81 Care together with the ability of FHL 1¢ meet the needs oflhe young person. Initially FHL was created to delwer sctkil care. however in May 2021 the due dilNJence processes nÈce5$ary to enable FHL to delwer post 19 education were completed. Future Horrzons is now registered with the DFE as an independent speciafist college ané is inspected under the Ofsted framework. The Workforce has expanded and diversTfied lo Inc]ude teachers. instnjctors and tutor$ as well as SUPPDrt slaff. FINANCIAL REVIEW FHL clients are funded through the EFSA and the Lxal Authorfty ILA}, either from the Adult SocTal Care budget or th& E(lucatlon budget. The LA works with FHL 8nd families to develop and provide the most appropri* p¥¢kag& of edurAtit)n, Support and Ca based on the young person's fteed$. FHL remains a young company, founded in 2014 by volunteers but now Maintains an established good reputation in Leeds. The priority of the Trustees is to rnatntain the sustainabilty of the organisallon whilst aayS ensuring dEnts get the highest qualty care and SUPFQrt. The Trustees have made consSderable, additional investment in a thlrd site and the workforce. en8bled by an increased inctsme as a result of addthon81 demsnd. The addition of education lo FHL'S offer provides greater scope for developin9 the client b85e as well as pmiding sarne financial stabllty through the LA purchasing pla¢es in advance. The Twstees are confident thal FHL will continue the steady traIlry of growth observed over recent years.
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT YEAR ENDED 30 AUGUST 2024 FINANCIAL INSTRUMENTS The chariV8 prin¢ipal financAal instruments comprlse bank balan¢es. trade ¢redltors. and trad• debiors. The main purpose of these instruments Is to raise funds for the charity's oporalion and to finance the charity's operations. Du¥ ts the naiure of the financlal Instruments u¥ed by th¥ charity there 18 no Oxposure to pricè dsk. The charlly's approach to managing other risks applicable to the accounting inslrumtrnts concerned18 shcwn below. Trade debtors are manag&d in reSpt of eredit and cash flow risk by poli¢ies concerning the credit offered to customers and the regular monitoring of amounts otjtslandiny for both time and credit limits. Trade cr#dlt¢rs liquidlty risk is managed by ensuring sufficient fvnds are avallable to meet arnounts du?. TRUSTEES, RESPONSIBILITIES STATEMENT Thg trust8&s. who are akn dirtOrS for the purposes of ¢omp8ny law. are responslble for preparlng the trustees, report and the financial statements in aecordance with applicable jaw and Unit•d Kingdom AcLounting Standards (United JQngdorn Generally A¢cepted Accounting Pra¢ti¢¢l. Company 18* requires the charity Irusltrfjs lo prepare financial slalgm$nts for each year whi¢h give a true and lair view of the stat& of affairs ol the ch3ritabl8 company and the incoming sourceS and application ol resources, inclLEding the income and expendilurg, for that period. In preparing these financial ststements, the Iru$lg•s are required to-. seknt suitable ounrj policie8 and then appty them conslstenlty: obseNe the methods and principles in ihe applICab Charities SORP., makejudgments and accounting estimates that ar¥ reasonable and prudenL ppa the financial slalernen15 on th¥ going concern basis unless11 is inappropriate to pr¢8ume that the chxrity will continue in business. Tho trustees are responsible for ktseping adequate accounting records that are svfficienl to show and trxplain the chaTitys transactions and disclose with reasonable 8¢curacy at any tirne the financial position Df the charity and enable them to ensure that the financiol slatemenls comply with the Companies Aot 2006. They are 8180 re$pon$ible for safeguarding th$ as$gts of the charty and h¥n¢e for taking rsasonable steps for the pr8vènUon and detection of fraud and other irregularities.
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARAl+lTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (conLlnv£d) YEAR ENDED 30 AUGUST 2024 AUDITOR Earh of the persons who 1$ a trustee atthe date of proval of this report confirms Ihal.. so far as they are aware, there 1$ no relevant audlt information of which the charity's auditor És un8ware" and they have taken all steps that Ihsy ought to have taken as a truslett lo make themselves aware of any relevant audit infomation and to establish th* the chariws auditor is aware of that infomation. SMALL COMPANY PROV]SIONS Thbs report has been prepared in accoTdance with th8 provisions applt¢able to companies entitted to the smafj companies exemptK)n. gik Ths tru$lees' anrual report was approved on ......................... tru$tee$ by: signed on behaM of the board of M Handscombe Trustee
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FUTURE HORIZONS LEEDS YEAR ENDED 30 AUGUST 2024 OPINION We have audited the financSal slaloments of Future H¢tOn$ Leed8 (tho 'charity'l for the year ended 30 August 2024 which comprise the statement of financial activities (including income and expenditure account). statement of financial position, ststement of cash flows and tho reLated notes, Induding 3umrnary ol significant accounting policies. The financial rèporting framework Ih¥l has been applied in Ihelr preparation is appli¢ablè1aw and United ngdoM AAuntIng Standards. includlng FRS 102 The Financial Reporting Standard applicable in the UK and Republic ol Iraland (United Kingdom General Acc?plgd Accounting Practi¢o1. In our opinion the financial slalements.. give a true and lair VI of Ihe slate of thtr charity's affairs as 8130 August 2024 and of 118 incomlng resources and appli¢ation of resources, indudlng its incom and expenditu. foT the y88r then ended., have been property prepared In aCCordare with United iQngdom Gen¥rally Accepted Accounting Practice., have been prepaied In accordance with the rqulrements of the Gompsni8s Acl 2006. BASIS FOR OPINION We conducted our audit in accordan with Inlernalion81 Standards on Auditing IUKI IISA8 IUKII and applicable law. Our responsibilities under those standards are further describgd in the audilovs responsibilities for the audit of the financial statements section of our report. We are independent ol th$ charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Elhlcal Standard, and wg have fulfilled our other elhi¢81 responsibilitie5 in a¢¢ordance with these requirements. We believg trat the audit evidenra we have obtained is sufficitrnt and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the trustees, use Of th$ golng concern basi5 of accounting in the preparali()n of the financial staternènts L8 appropriate. Based on the work we have performed, we have not identified any m8lerial uncertainlw T?Lgting to ents or condf(ions that. indNidually or collectively, may cast signiftcanl d¢ubt on the CharY'S ablllty lo continue as a going oon¢ern for a period ol al least e1ve months from when the finanelal Statements are aulhorised for issue. Our responsibililles and the responslbi5tties of the trustees with respo¢t to going concern are d¢scrkni ed in tho relevant se¢tions of tt]is report.
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO TrIE MEMBERS OF FUTURE HORIZONS LEEDS (ccnllnu6aJ YEAR ENDED 30 AUGUST 2024 OTHER INFORMATION The other information Comprtses the informalion included in the annual reprt other than the financial statements and our audiiofs report thereon. The trustees are responsible for the olher inft)rmation. Our opinton on the financial 8talements does not cover tre other information and. except to IhÈ extent otherwise explrilly slated in our report, we do not express any form of assurance conclusiDn Ihereon. In ¢onne¢tion with o¥Jr audit of Ihe financial statements. our responsibifty is to read the other infomalion and. in doing so, consKJer whether the other information is malerialty inconsistent with the financral statements or our knowledge obtained in the audit or otherwise appears to be Materially misstated. If wg Klentify such material inconsisten¢ies or apparent material misstatements. we are required to delemiine whether there is a material mtsstalement in the financial statements or materL41 misstatement of the olher information. If, based on the Work we have performed. we conclude that there 15 a material MStateMnt of thss tslher information. we are requwed to report thatfaeL We have nothing to report in this regard. OPINIONS ON OTHER MAThERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the audfc the informatton given in the trustees. Teport for the financial year for whth the financlal slalernenis are prepared is o)nsistentwli h the financial statements.. and the tnjslees. report has been prepared in accordan¢È with apprAble legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of knowlèdgè and understanding of the charity and its enwronmorTrt obtained in the course of the 8udiL we have llot idenlffied material rnisstatements in tre trustees, report. We have nothing to report in Tesp&¢t of the following matters in relation to which the Companies Act 2006 requires us to rewrt to you rf, in our opiNion- adequate accounting records have not been kep( or relum$ adequate for our audit have not been received from branches not vislted by u$., or th¢ finanaaj stslernents are not in agreementwith the accDunling records and retums.. or certain disclosures of trustees. remuneration spectfied by law are not made; or we have not received all the infomatton and expfanations we require for our audi¢ or the truslee5 Were not entitled to prepare the fina]31 st8teMents in accordance with the small companies regime and take advantsgÈ of tre small companies. exernptions in prepsring the directors, Teport and from the requiremenl to prepare a Strateg report.
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FUTURE HORIZONS LEEDS (cl11 YEAR ENDED 30 AUGUST 2024 RESPONSIBIUTIES OF TRUSTEES As explained more fully in the truslee5' resPon$lbllilles staternenl. thg Irust86s Iwho are 9150 th& directors for the purposes of compxny lawl are responsible for thè preparation ol the financlal statements and for btsing satisfied that they gnie a true and fair view, and for SUGh internal ¢ontrol as Ihg trustees determine is necessary to enable the preparation of ffnancial slalements that are free from material misslalemenl, whother due to fraud or error. In preparÈng the finanoial sialements, the trust8•s are responBiblÈ for assessing the Chorws 8billty to continue as a going nCern. disclosing, as applicable, matters related lo going ¢oncern and using thg going concern bas of aecounting unless the Iruslees elthor intend lo liquidate the ¢har(ty or lo cea$e operations, or have no realistic alternative b1 lo do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our obje¢Uves are to obtain reasor)abl¢ assurance about whether the flnancial statements as a whole are free frorn material misstalernenl, whether due to fraud or error, and to issue an auditor's rgport that includes our opinion. Reasonable assurancè is a high level of assurance, but is not a guaranlts& that an audit ctsndu¢ted in accordance with ISAS IUKI wlll thays delecl a rnalerial misstatement when it exists. Misslal¢m¢nls can arise from fraud or error and a considered material if, IndivlUallY or in thty aggregate. they could reasonably be expected to influence the economic de¢bions of users taken oft the basis of these financial statements. Irrègularitiès, includlng fraud. are instances of non-mplIance with laws arKI rggulations. We desiqn Procedures in line wtth our responsibilitie5. ouuined above, to detect material rnisslatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting Srregularitles, including fraud is detail&d b¥l¢)vr. Irregularities Ihat result from fraud Ère inherendy more difficult to d¢teet than irregularitie3 that result from error. We consider that our audit procedures are designed and carrled out to give a reasonable èxpèctation that material mi85taternents fftsulung from fraud would be discovered. As part of an audit in accordance with ISAS IUTrQ, wo ¢xerclse PTofeBsional judgm$nt and malntaln profe8sional sc8ptici5m throughout the audit We abo.. Identify and a55e55 the risks of material misstatement of the financial statemts. whether du¥ lo fraud or error. design and perform audlt prOdureS responsive to those rSsks, and obtain audlt gvidgnce that is sufficient and 8ppr¢pri8le to provlde a basis for our oplnlon. The risk of not d¢l¢cting a material mis5talemenl resulllng from fraud is higher than for on& r&sutting from erior, as fiaud may involve collusion. forgery, inl¢ntional omissions. misrepresentstlons, or the oveffide of intemal control. Obtaln an understanding ol inlomal ¢ontrol relevant lo the audit In ord6r lo deslgn audTt procedure8 that are appropThate in the circumstances, but not for the purpose of expresslng an opinlon on the effeclfveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of 8ccounling estimates and relat¢d dis¢losures mode by the tru81ees.
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FUTURE HORIZONS LEEDS f¢onthtse YEAR ENDED 30 AUGUST 2024 Conclude on the appropriateness of the trustees, use of the going Concern basis of 8(tsunling and, based on the audit eMd¢n¢e obtained, whether 8 material unrtainty #ted to events or ndItionS that may Cast significant doubl on the ¢harity's ability to egnlinuo as a going concern. If we ¢on¢lude that a material uncertainty eSts, we are required to dr3W 8ttenlion in our audttOT'S report lo the retale¢J disclosures in the financial statements or, if such disclosures ? IAadequale, lo modify our opinion. Our conclusion5 are based on the audti dence obtained up lo the date of our audilorfs report. However, future events or condttions MÉY eause the charity to cease to continue 8$ a going concem. Evaluate the oveTall presèntab"¢n, structure and contsnt of the fjnancral statements. including thÈ disclosures. and whether the financial statements represent the underfying transa¢tions and events in a manner that athieves fair presentation. We commUnte wkth those charged wth govemance regarding. among other m8tters, the planned scope and timing of the audit and signrftsnt audit findings, induding *ny significant dthiencles in intemal control that we identty during our audit. USE OF OUR REPORT Thi$ rept)rt made solety to the charity's membeJs. as a body, in accordance bwth Chapter 3 of Part 16 of thÈ Companies Act 20LK. Our audit work ha5 been undèrtaken so that we might slate lo the eh8rity's members those matters we #re required io state to them in an #udilorfs report and for no other purpose. To the fullest extent permitted by law. we do not 8p1 or assume responsibiltty to anyone other than thé eharity #nd the charivs members as a bojy. for our audil work. for thi$ report or for the opinions we have formed. c. DAVID SCOTh (Senior Statutory Audli or) For and on beaof Wine & Co Chartered a¢¢ountants & statutory audilor 20-22 8rirJge End Leeds LS14DJ IS ÉL fvI.J 20%
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 AUGUST 2024 2024 Unrestricted funds Total funds Totsl lunds 2023 Mol¢ Incomè and 8ndowmonts Donations and 1¢9acies Charitable acllvlls 13.7521 2,270,957 13,752} 2,270,957 2.267,205 1,982,216 1,982,216 Total Incom• 2,2S7,205 Expondlturè Expenditure on eh8rStable activ(Lies Total expondlturo 7,8 12.126,0661 p,126.0661 11.753,2971 12,126,066) 12,126,088} 11.753,2971 Net Incorno and not mov?mgnt In funds 141.139 141,139 228,919 R•concllialion of funds Totsl funds brought forward Total funds carrred forward 679,257 679,257 450.338 820.396 820,396 679,257 The slatgment of financia5 ¥ctivili&s includes all gains and losses re¢ognlsed in the year. I In¢¢me and expenditu derive from conlinuln9 getlties. Th¥ notss on pages 13 10 18 f¢rni part of th•se finlnclal 8tatements. 10
FUTURE HORIZONS LEEDS COAIPANY LIMITED BY GUARANTEE STATEMEKf OF FINANCIAL POSITION 30 AUGUST 2024 2024 2023 Note FIXED ASSErs Tangible fixed assets 12 161.905 218.661 CURRENT ASSErs Debtors Cash at bank and in hand 13 206.963 510,912 203,054 329.371 717.875 532.425 CREDrroRS: amounts talling due wlthin on• yè4r NET CURRENT ASSErs 14 (79,384) 171,8291 638,491 460.596 TOTAL AssEfs LESS CURRENT LIABILITIES 820,396 820,396 679,257 679,257 NEf ASSETS FUNDS OF THE CHARrrY UnrestriGted fiJntJs 820,396 820,396 679,257 Total charfty fund$ 16 679,257 These firBn¢ial statements have been prepared In accordance wilh the PTovi$ft8 8pplicab to companies subject lo the sm311 Companies, regtrne. Thesè financial statements were approved by the board of truslees and authorised for issue on , and are signed on behaff of the board by: M Handscombo Trustee Th¢ ntrte5 on pages 13 to 18 form part of these financial sfatsments. 11
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 30 AUGUST 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net income 141.139 228,919 Adjustments for. Depreciation of tangible fred assets Accrued oxpenses 52,143 540 54,127 3,500 Changes in.. Trade and other debtors Trade and other creditOf5 13,9091 7,015 18,0451 19,940} 268,561 Cash 9eneraled from operations Nel cash from operatlng activities 196,928 19S,928 268,561 CASH FLOWS FROM INVESTING AcfiviTIES Purchase of tangible assets Nel cash used in invesung activities 115,38n {15,3871 (49.5751 149.5751 NET INCREASE IN CASH AND CASH EQUIVALENTS GASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR 181.541 329,371 218.986 110,285 329.371 510.912 The notès on pag05 13 to 18 forn1 part of these finan¢lal statsments. 12
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEl+Trs YEAR ENDED 30 AUGUST 2024 GENERAL INFORMATION The charity a public b8nÈfft enlty and a private company limited by guarantee, registered in England and Wales and a Tegislered ¢harity in England and Wales. The address of the registered office is Unlt 1, 2 Vvyther Lane. lfjrkstajl. Leeds, LS5 3BT, Unitad FQngdom. STATEMENT OF COMPLIANCE These finan¢Tal statements have been prepared in complianee wtih FRS 102. Th¢ Financial Reporting Standard applitsble in the UK and the Republrr of Ireland,. the Stemenl of Recommended Practi applicable to charities preparing thwr accounts in accordan¢e with the Financial Reporung Standard applicable in the UK and Republic of rend IFRS 102) {Charities SORP IFRS 1021) 8Ad the Companies Act 20[6. ACCOUNTJNG POLICIES Basis of preparation The financial statements have been prepared on the hisiorical cost basis. The financial stements are prepared in sted(ng. which is the fun¢tional cUenCY of the entity. Going ¢oncern There are no material un¢ertainlTes aboutlht ¢h¥rTty's abilty to continue. Judgements and key sources of èstimation uncèrtainty The preparatn of the financial statements requires managemerrt to makE judgements. estimates and assumptions that affect the amounts reported. These estimate5 and judgements are continually rèviewed and are based on experience and other factors, including expectations of fiJture events Ihat are believed to be ieasonable under the circumstances. Fund accounting Unrestricted funds gre available for use at the dN%cretion of the trustees to fvrther any of the harty's purpose5. Designated fijnds are unrestrtcted funds eannarked by the trustees for partUr futu project or commitmenL Restri¢tsd funds are subjected lo reslricbor¢s Dn their expendiiure declared by the donor or through the tems of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 13
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEp¥fs fGoniinuod) YEAR ENDED 30 AUGUST 2024 ACCOUNTING POUCIES (¢onllnued) In¢omSng resour¢¢s All in¢omSng resources are Included in the statement of financial a¢livloes when entitlement has passed to the charty., it is probable that th6 economic benefits assocklted with the tran38¢1ion will flow lo the charity 8nd the amount can reliably me88ured. The fOlWIng specific policles are applied to particular categories of income: Income from dDnations or grants Is recognised when there is evidenco of entitlèmant lo the gift. receipt Is probable and Ils amount Can be measured reliably. legacy in¢ome is recogni5ed when receipt is probabl8 and entillernenl is establlBhed. income from donated goods is rneasumd at the falr value ol the goods unlo$S thi& 18 impractical to measure r&liably, in which c88e th¢ value is derived from the cost lo Ihe donor or the gsllmated resale valye. Donated fa¢iliti¢s and services are recognised in the 8¢¢ounts when received If the value can be reliabty measured. No am¢)unts are included for the contribution of gener81 volunteers. Income from wnlracts for ihe supply of services 18 r8¢ognlsed wsth thg delivery of th¢ contracted ser¥e. This is classified as unreslrioted n$ unless there 55 a ntraCtUal requirement for it to btr spent on a particular purpose and retyrned if unspent, In which case it may be Tegarded as restricted. Resoureos expendèd Expendlture is recognised on an accrua15 basis as a liabilty is incurred. Expenditure includes ally VAT which cannot be fully recov&red. and is ciassifi8d under headlngs of the stalemgnl of financial a¢t1vWes to which it relates: expenditure on raising funds in¢ludes the costs of 811 fundrai8ing aCtiV¢s. events, non-oharitable trading actwitie6. and the sale of donated goods. expendlture on charitable a¢kn"vities includes all costs incurred by a chartty In undertaking activities tEiat further its charitable aims for the benefit of ils beneficiaries, Including tho8e support costs and costs relating to the govemance of the tharity apportioned lo chafltable activities. other expendilure includ¢s all expenditure that Is nellher related lo ral$lng funds for the charity nor part of its expgnditure on charitable actlvitles. I costs are allocated to expendittjre calegtsries refleclin9 Ihè use of the reSoue. Direct costs attributable lo a single activity are alio¢ated directly to that actiwty. Shared costs are apptsrtioned beiween the activities they contribute lo on a reasonable, justifiable and Consislenl ba$l8. TangSble assèts Tangible assets are initially recoided al ¢051, and subsequently slated al ¢ost less any accurnulated depr]tion and impairmerJt10s$8s. 14
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEpifs (continued) YEAR ENDED 30 AUGUST 2024 ACCOUNTING POUCIES rwn&nued) Dèprèttiation DepreCtn is calculated so as io write off the cost or vduatioft of an asseL less its residu81 value. overthe useful economte lrfe of that asset as follows.. Le88e*old improvements Fixhirps and fittings Motor vehicles CompLrter equipment 10% straight fine 25% reducing balance 25% reduc¢ng batan 33% straight line Financial instrumants Basic financial instruments are Tecognised at aMOrti cosL except for investrnents in nonthconvertble preference and non-puttable ordinary 5h8res whh are measured at fair value. with changes recognised in prtsfil and loss. Derivattve financtal instruments are inllialty recor¢Jed at Iransa¢tion pre and thereafter at fair value wth chanoes recognised in profrt and loss. The company holds the following fftianryal assets and Itabilities: Cash, Shtsrt-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original m81L]Tity dale of three months or less. Debtors and creditors with no stated interest rate and r1Vable or payable within one year are recorded at transaction price. Any losses arising from Impaimienl are recognise<l in the profit and knss account bgfore operating profiL Definod contribution plans Contributitrn$ to defined contribution pkfts are recognised as an expense in the period in which the r8lated service is provided. Prepaitj ¢ontrbi utions are recognlsed as an asset to the exient that the prepayment vrill l¢ad to a r&Yuction in future payments or a cash refund. LIMITED BY GUARANTEE The ¢harity is limited by guarantee, incorporated in England, and ¢onsequently does not have share capital. Each of the INstees is Irdble to conthbute an amount not exceeding £10 tNardS the assets ol Ihe charity in the event of liquidation. DONATIONS AND LEGACIES Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 DONATIONS Donations 13.7521 13,752) 15
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS f&oniinvftd) YEAR ENDED 30 AUGUST 2024 CHARITABLE ACTIVITIES Unreslricled Totsl Funds Unreslrfcted Total Funds Funds 2024 Funds 2023 Fees r8ceiv8blÈ Other income 2,264,180 e.777 2,264.180 6,777 1.981,806 410 1.981,808 410 2,270.957 2,270,957 1.982.216 1,982.216 EXPENDITURE ON CHARABLE ACTIWTIES BY FUND ryPE Unrestricted Totsl Fund8 Unreslri¢ted Total Funds Funds 2024 Funds 2023 Young adults ¢8re education provision Support costs 2,095.988 30,078 2,095.988 30,078 1,721.290 32,007 1.721,290 32.007 2,128,C66 2,126,066 1,753,297 1,753.297 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTivifi TYPE Activities und&rtaken dirncuy Support Total funds costs 2024 T¢tal fund 2023 Young adult5 care and education provision Govomance costs 2.095.988 2.095,988 30,078 2,126,066 1.721,290 32,007 30,078 30.078 2,095,988 1.753,297 NET INCOME Nel income 1$ $tal¢d after GhaTgingl{¢reditingl'. 2024 2023 DeprecAation of tangiblè fixed assets 52,143 54,127 10. STAFF COSTS The total staff costs and ernployee benellls for the reporting perlod are anatysed folbws: 2024 2023 Wages and salaries Social se¢Yrity costs Employer contributions lo pension plans 1.222,175 86,149 57,828 1.366,150 978.398 72,003 41,974 1.092,375 16
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (¢ontinuedJ YEAR ENDED 30 AUGUST 2024 10. STAFF COSTS (CWrfAnoed) The average head count of employees during the year was 49 (2023.. 51). The average number of full-time equNalent empbyees during the year is anatysed as follows.. 2024 2023 No. AdminBtratNe staff 49 51 The number of employeès whose remuneration for the year fell withSn the following bands, were.. 2024 2023 No. No. £so,000 to £69,999 11. TRUSTEE REIIIUNERATION AND EXPENSES No trustees, nor any persons connècted with them, have recewed any rernuneration fr¢m the charty dvring the year. 11 TANGIBLE FIXED ASSErs Leasehold Property Improve Fixiures and -ments rrtbngs mOr Computer vehicles Equipment Total At 31 August 2023 Additions 208.575 10.827 124,428 881 19,745 40,332 3.679 393,080 15,387 At 30 Au9USt 2024 Deprè¢iation At 31 August 2023 Charge for the year At 30 August 2024 Carryin9 amount At 30 August 2024 At 30 August 2023 219,402 125.309 19,745 44.011 408,467 74,696 21.941 r2,848 13,129 11.878 2.623 14,997 14.450 174.419 52.143 9S,637 85.977 14,501 29,447 22S.562 122.765 133.879 39,332 51,580 5.244 14,564 181.905 7.867 25,335 218.661 13. DEBTORS 2024 2023 Trade debtQT5 Prepayments and accrued income 169,549 37,414 165.957 37.097 206,963 203,054 17
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS fconllnu8dJ YEAR ENDED 30 AUGUST 2024 14. CREDITORS: amounts falllng due withln one year 2024 2023 Trade credilars Accruals and d&ferred incom¢ Soclal security and other taxes Other credltors 39,368 9,540 21.819 8,657 36,1S7 9,000 20,152 6,510 79,384 71,829 15. PENSIONS AND OTHER POST RETIREMENT BENEFITS Defined contributlon plans The amount recognlsed in income or expenditurg as an expens& in relallon to defined contribution plans was £S7.826 {2023.. £41.9741. 16. ANALYSIS OF CHARITABLE FUNDS Unr•strlctod lundB At 31 August 20 23 At 30 August 2 024 Income Expenditure General funds 679,257 2.287,205 12,126.0681 820,396 At 31 ALPJUSt 20 At 30 Augusl 2 23 Income Exptrnditttre General funds 450,338 1,982,216 11.753,29n 879.257 17. ANALYSIS OF CHANGES IN NET DEBT At 31 Aug 2023 Cash fl¢)ws 30 Aug 2024 Cash * bank and in hand 329,371 181.541 510.912 18
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE MANAGEMENT INFORMATION YEAR ENDED 30 AUGUST 2024 The loll¢>winy pages do not fom part of the financial statements. 19
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 AUGUST 2024 2024 2023 In¢ome and endowments Donations and Iggacies Don¥tions 13,7521 Charitsblè activitie¥ Fees re¢eivabie Other InMe 2.264,180 6,777 1,981,808 410 2.270.957 1,982,216 Total Incom8 2,267,205 1,982,216
FUTURE HORIZONS LEEDS COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL ACTMTIES fcontsnue YEAR ENDED 30 AUGUST 2024 2024 2023 Expenditure Expènditure on charttablè •¢tivHI•s Pur¢hases Wages and salaries Empl¢yerfs NIC Pension easts Rent and rates Light and heat Insurance Repairs and maintenance Motor expenses Travel and subsisten Vehicle asIng Telephone C()mputer expenses Printing, pgstage and stationery Sundry exp¢nses Cleaning and waste PPE cost Staff training Trade subscriptions Advertising Depreciation Auditors faes Legal and Profession fees Bank ch8r9es 1163,7131 (137,3581 {1,222,174 1978,398) {86,1491 172,003) 157.8281 141,974} 11SI,7661 {115,132} 149.8961 {40.4671 112,2671 {11,6431 (39.730) (33.9921 (20.0731 110.6001 18,9141 13.9381 (28.8381 123,932) {8,3941 {4,LE2} I,534) 151,8451 {4,7861 19,4841 (6,7591 111,5551 {81,9471 {65,4791 13.1511 14.4311 135.221) (38.8031 111,04n 16.868) 11.6591 15.199) 152.1431 154.1271 {9,0611 110.8401 {9,5401 19.0001 {10,6351 111,SQ31 (8421 {6641 P,126,0661 (1.753.297) Totsl expendEturè 12,126,C66) 11.753,297) Net income 141.139 228,919 21