CHARITY REGISTRATION NUMBER: 1185333
VISION25
Unaudited Financial Statements
31 May 2024
S J ACCOUNTING SERVICES (NE) LTD
VISION25
Financial Statements
Year ended 31 May 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 82 |
| Statement of financial activities | 83 |
| Statement of financial position | 84 |
| Notes to the financial statements | 85 |
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.
Reference and administrative details
Registered charity name VISION25 Charity registration number 1185333 Principal office 144 High Street Stockton on Tees TS18 1LX The trustees G Williams T Dooley J Langford Independent examiner SJ Accounting Service (NE) Ltd 3 Galava Walk Ingleby Barwick Stockton on Tees TS17 5JD
Structure, governance and management
Vision25 is a Charitable Incorporated Organisation (CIO), incorporated on 12th September 2019 and is governed by its constitution which was adapted on 16th September 2019.
Objectives and activities
The object(s) of the CIO are
To advance in life and help disabled young people living in the northeast of England through a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; b) providing support and activities which develop their skills, capacities, and capabilities to enable them to participate in society as mature and responsible individuals.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) WHAT A YEAILT ••
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) Achievements and performance
SPONSORED WALK AT MIDDLESBROUGH SPORTS VILLAGE
On June 3[rd] lots of us took part in a sponsored walk organised by our manager Paul. It was a gorgeous sunny day, and we walked around the Middlesbrough Sports village racing track. We loved it and raised a lot of money which was spent on the young people.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) SOLAR PANELS
Due to extremely large electric bills with the cost of energy crisis, we made the decision to buy some solar panels to help with this burden. We were told by the installer that we had room for 125 solar panels at a cost of £45,000 which the charity could not afford so we started with half the amount for now until we are in a stronger position to do
the full job. They were installed in June 2023.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Our very own charity shop
We had been looking for a shop space cheap enough to run our own charity shop. The sole purpose of the shop was for our young people to gain work experience in retail. After looking we found a double unit in the Fountains Shopping Mall on Stockton High Street. We employed two lovely ladies who had charity shop experience including working with young people with learning disabilities. We officially opened on June 19[th] , 2023. Customers commented that it didn’t look like charity shop but a little posh boutique. Business was slow at first as we were right at the back of the shop and people didn’t know we were there, but eventually trade picked up. We hope to find a shop on the actual high street once we could fine one affordable.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) community links for wood with inbond
Due to us having a woodwork and upcycle class are always looking for wood donations. We found a wonderful collaboration with a local company Inbond Ltd.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued)
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
community links with Stockton council market team
We frequently are offered a place on our local community market on the High Street thanks to the Stockton Council High Street Team. We held a tombola in June which was very successful.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
charity shop up & running so young people introduced to the world of work
July 3[rd] , now that the charity shop is up and running, it was time to start introducing our young people to the world of work. They absolutely loved meeting new customer, putting out new stock and using the pricing gun was their favourite. July was a busy month for them all at work. It was on a rota basis and all of them enjoyed working the morning or afternoon.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Community links with our good friends dpd who came for a visit to see how their money was spent from last years fundraising
On 18[th] July, our friends from DPD came to visit. Special thanks to Dave, Colin & Simon their senior staff. They selflessly raised 84K last year for us and wanted to see how it looked with some of their money spent on it. Our young adults bravely gave a speech! Well done to you all and thanks to our wonderful families for joining us
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 11
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Motif8 embroidered our new aprons
On 21[st] July – thank you to jay myers from motif8 for the brilliant job of our new aprons for our young adults working in preloved_at_v25. He’s even modelled it for us!!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
community collaboration with Stockton central library
We have a wonderful collaboration with Stockton Central Library. We go over to them once a month with a group of young people to do a variety of workshops which are fun and informative. Steve who hosts us always likes to get his guitar out and have a sing song which our young people absolutely love.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 14
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Our wonderful outdoor space – ropery gardens made possible by our wonderful volunteers. You might remember from last year that we have a wonderful group of volunteers who work hard in keeping Ropery Street a joyful place where we can enjoy the outdoors safety. We now have seating in there and the group have fully enjoyed spending long hot summer days lazing in the street. Dave our brilliant volunteer still comes every few weeks to make sure those pesky weeds aren’t trying to return. We are very grateful to our wonderful volunteers.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 16
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Upcycle and woodwork sessions
In our upcycle/woodwork lessons we thoroughly enjoy the experience. We are taught to wear appropriate PPE to the task in hand. We have built furniture over the months, built planters and bird boxes and many other products which have been sold in our shop window.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 18
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Community collaboration with creative village cic
We have a wonderful collaboration with a local art company – Creative Village who we a have worked with for a few years now and they still come into our space with brilliant ideas for us to work with.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) WELLJNGTON SQUAIIE FUN 'l(I 11!iJJ 20
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Community litter picking as part of our health & wellbeing sessions
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Building Ikea furniture as part of our woodwork session
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) staff training on fire safety & fire extinguishers
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Great north run fundraiser by the sister of one of our young people
8[th] September They ran the Great North Run.
Olivia is our Beth’s sister, and Dominic is our Max’s cousin.
Strictly chair dancing
Ivy strictly chair dancing in September 2023
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
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Financial review (continued)
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creative village nature display with our young people
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Inbond delivering more free wood for our projects in September
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) CCTOBEtL HALLOWEEN FLIN IN WELLJNGTON SQUAIIE 27
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Community links with greens lane methodist church in October
31 October 2023 · Thank you to Greens Lane Methodist Church for everything you do for us.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) Our very own Halloween party
2[nd] November Halloween party at Billingham Synthonia club. Everyone got dressed up and loved the night with a great dance!!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
14 November 2023
Special thanks to Little Anne & Chris for raising £172 for us and to The Red Lion Norton for hosting their event! We appreciate everything you do for us!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) Finally, we have a shop front to be proud of!!
November 2024 we finally got our new shop front! Special thanks to Stockton Borough Council for supporting us with a High Street grant to enable this to happen. Special thanks also to David and his team from Hybrid Architecture for the amazing install and Azul door services for the automated door system.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 32
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) 20 November 2023 ·
Special thanks to the team at Beaverbrook’s the Jewellers for their very kind donation of £1300 to us! It was great to meet Kelly, Wendy & Karen today! Kelly is besties with our lovely Nic (Ella’s mum) The money will go towards our shop signage. Thanks again!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
21 November 2023 ·
We had our lovely friends from Greens Lane Methodist Church in to visit us today and have a tour which they loved! It was brilliant to see you all
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) 23 November 2023
Great day! We especially enjoyed Stockton Sparkles which is a wonderful event each year! Well done to Stockton-on-Tees Borough Council for another magical experience for our community!
2 December 2023
Thank you to Stockton-onTees Borough Council and Wellington Square for bringing us Stockton Sparkles and all the fun in Wellington Square today! We loved it. It was magical. Thank you to all involved
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
4 December 2023
Gorgeous day at Stockton Parish Church singing carols and meeting the lovely people at Teesside Dementia Link Services!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Our very own COFFEE MORNING IN OUR FRONT OF HOUSE – SOON TO BE CAFÉ AND SHOP
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 39
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) 12 December 2023
Lovely day! Thank you to Tesco for having our brilliant carol singers who raised lots of donations!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
15 December 2023
Special thanks to our lovely friend & parent Gary, manager of McDonald's, Marton Football Club & Hall Aspects Of Roofing for your lovely donation of selection boxes for our young people!! You made our day!!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
CHRISTMAS PARTY! OUR FAVOURITE TIME OF THE YEAR!!
15 December 2023
Absolutely magical night at our Christmas party! Thank you to our brilliant events team for yet another magnificent get together. My favourite times throughout the year is the times when our Vision25 family are together. Honestly there’s nothing like it!! Parents if you have any pics, post them in the comments!!
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 44
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
CHRISTMAS PANTO!! JACK AND THE BEANSTALK AT THE FORUM BILLINGHAM
Our magical day started with special Christmas card making for our elderly friends, followed by a lunch specially delivered from Gary & Lee from McDonald's, we were totally thrilled so thanks so much!! Then off to see Jack & The Beanstalk at The Forum which was absolutely brilliant. All our young people loved every minute of it!!
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 46
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Wonderful morning at The LINK with our Josh and Apollo Arts and The Globe, Stockton. Choir who were brilliant!! We loved every minute!!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) 20 December 2023
Lovely day! We popped over to send our thanks and Christmas wishes to Sean & Tracy at The Sun Inn, Stockton-on-Tees. Who, as usual, spoilt us all with a selection box each! Thanks guys, we love you to bits!
Happy Birthday to Ellen!! You have reached the grand age of 104! Our young adults enjoyed meeting you in person at Church View Nursing Home & wishing you the best day! They loved making cards/gifts for you
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
9 January
A year ago, today we moved into our forever home! Wow what a year it’s been! We have loved every second of every day and today was no exception!! Happy Anniversary to us and 144
We are going to be doing some planting for our new planters in Ropery Gardens. All of the group picked a name for the gardening company, and we decided on Busy Bees Gardens. Well done, Louise.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
11 January
As you know, our charity shop Preloved-at-V25 has now moved into the front of our day service headquarters at 144 High St, Stockton. Our young people are on a rota to work in the shop so they can gain confidence, customer service skills, improve self esteem and provide a service to you which is meaningful to them!
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) Ir 51
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
We are so grateful to our wonderful volunteers who give up their time for us. Some come every week, some come when needed. Some have even been coming for the past few years. We are truly blessed.
We have some wonderful special people to thank for giving up their free time to volunteer for us. I don’t know what we would do without your kindness. We thank you from the bottom of our hearts.
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) V25 PytoTrV 53
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 54
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) Ill/ BIR to helpl Tff 55
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Special thanks to James Dodd who brought us a cheque from raffles and fundraising activities on board the Valaris72 Oil Rig. Thank you so much to you and your wonderful colleagues!! We appreciate your kindness
Thank you to our lovely friends Sean & Tracy from The Sun Inn, Stockton-on-Tees. For the donations from your tub on the bar and thank you to Steven for bringing it over to us. There was £91.03, which is fabulous!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
We loved our visit to Church View nursing home where we made lovely new friends!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Some of us popped on the bus to Norton to enjoy cooking with Norton Conduit which was fabulous!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
On January 31[st] we celebrated National Hot Chocolate Day with, yes you guessed it, hot chocolate for everyone!!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued) Our year of spectacular shop windows
Special thanks to Creative Village for our brilliant shop window themes throughout the year. Valentines Day, World Book Day and Fathers Day to mention a few. Our young people loved taking part in the design and delivery of each one.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
At Vision25 we have several teams who have specific responsibilities within the day which impacts on the young people in a positive and significant way. We would love you to meet them;
communication team (comms) – Ellie & Karen
Our Communication Teams main aim is to help to improve and extend the young adults’ speech and communication skills.
This will enable them to interact more with others during sessions and social activities at Vision25 and in the wider community. It will also hopefully build their confidence. The communication sessions are run individually or with two young adults together. Having another of their peers there is something they enjoy and
encourages them to talk more. Activities include reading aloud, word games, flashcards, question and answer games and anything that encourages them to use their voice to communicate. For those who are nonverbal, we have voice recorders and flashcards readers as well as picture cards tailored to individuals. Future ideas would be to incorporate role play scenarios with two or more young adults together.
community connections team (cc) – Mel & gemma
Our Community Connections Team get in touch with different people around our town to get involved in local activities and mix with different people. We visit places like schools and care homes, its brilliant for both the people we visit and for our young adults as it gives the young adults the experience of mixing with people, they may not normally get the chance to. We have plans to visit a local school starting in September, where we will work with children from nursery right up to year 6 in attempt to normalise disabilities for the children in the school and let the children see just how amazing our young adults are.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
cooking team – Helen & Mel
Our cooking Team works daily to deliver a cooking session for each and every one of our young people. They learn valuable life skills in the cooking field. This includes writing a shopping list, shopping for the needed goods, and cooking a two-course meal for their peers every day. Once the session is over and everyone has eaten, they are also taught how to wash, dry and put away their own plate etc. They also clear the table and clean it. They learn the essentials about health and safety – correct handling of knives, which chopping board is needed for each task so that they are complying with environmental health standards.
events team – Karen, Lynn & Sophie
The Events Team organises events and parties throughout the year which the young adults, their families and staff look forward to.
They believe the events are a good way for bonding with each other. They hold three parties a year, summer, Halloween which everyone gets dressed up for and also Christmas. At the parties we do either a raffle with fabulous prizes to be won, or a blind card. They also hold tombola stalls throughout the year which the young adults help with.
All of which help to make a night out a fantastic night,
which is full of fun and loved by everyone who attends from family and friends.
Everyone is made to feel welcome, and everyone leaves at the end of the night with big smiles and happy memories.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Fundraising team – Mary – (parents & volunteers to join soon)
The fundraising Team organises fundraising events, they are just new to this role but will grow without doubt. As part of this team, they have done a bottle tombola at our party, sorted unwanted furniture to sell on, organised a sponsored bike ride, which raised a staggering £500, sorting things for car boot and been successful with various bonus balls.
health and wellbeing team – Kate & Helen
Our Health and Wellbeing Team has a mission which is to help our young adults gain the knowledge and independent skills to look after their own health. They look at how to keep their bodies clean and healthy via teeth brushing guidance sessions practising on dental teeth models before doing their own teeth, handwashing hygiene doing experiments with glitter and hand-wash, and hair washing practices on our mannequins Bob and Betty! Our young adults also learn about healthy eating by making smoothies, doing healthy food tasting
sessions and designing a healthy plate and making their own good food choices. As part of the young adult’s wellbeing, we practice yoga and meditation, daily sensory/scavenger walks, peer massage and we love to make things for our random acts of kindness. Handing out or hiding flowers, cards, rocks and hand made items for the unsuspecting members of the public to find/receive........they feel loved, we feel happy!
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
so, what have we been up to in our day centre this year? A quick recap in pictures.
- busy bees our new gardening group
money management
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VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) HE4LTH & WELLBEING 65
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) 'Vision?s 66
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) SENSOILY 67
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) ICT li 68
VISION25 Trustees. Annual Report (continued) Year ended 31 May 2024 Financial review (coiilinued) SPOKTS Yi 69
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
the coming year………
In the next 12 months we will be purchasing our property. We have already applied for a mortgage through our bank (Co-Operative) but were declined due to us spending a lot of money on the refurbishments which showed the last 12 months in deficit.
We will now be applying through the Key Fund.
We will also be applying for some of the purchase price via the National Lottery and for a grant to refurbish our first floor, which will become a world of work for our young adults aged 25 plus. We hope to have a hair salon, a digital printing studio, a ceramics studio. This will introduce them to the world of work where they can enhance their CV and apply for jobs with the skills learned. We will connect with the high street salons to look for them to support us in a mentoring role. Digital printing will be offered B2B, and products made in the ceramic studio will be sold in our shop.
We also want to employ a few Employability Support Officers who will take our young people on a work placement of their choice to gain work skills that will benefit them and enhance their chances of employment in the future.
We will be finishing the second phase of the solar panel install to reduce our energy bills which have been utterly staggering over the past two years.
We have a three-year waiting list for young people to join our service so we will continue to grow and continue employing staff.
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VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2024
Financial review (continued)
Financial review
The results for the period are reflected in the Statement of Financial Activities in the accounts. The accounts for the year show a deficit of £5,458.
The reserves stand at £66,960, all being unrestricted funds with free reserves of £51,185. Reserves Policy
The trustee’s aim is to expend all funds on their charitable objects; however, they recognise the need to maintain a certain level of reserves as a cushion against possible future difficulties. Free reserves at the level of 6 months running costs would allow the charity to continue its operations while alternative funding sources were sought.
The trustees' annual report was approved on July 15[th] , 2024, and signed on behalf of the board of trustees by:
T.L Dooley J. Langford Trustee Trustee
G. Williams
Trustee
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VISION25
Independent Examiner's Report to the Trustees of VISION25
Year ended 31 May 2024
I report on the financial statements for the year ended 31 May 2024, which comprise the statement of financial activities, statement of financial position and the related notes.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act, and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SJ Accounting Service (NE) Ltd Independent Examiner
3 Galava Walk Ingleby Barwick Stockton on Tees TS17 5JD
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VISION25
Statement of Financial Activities
Year ended 31 May 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 14,890 | 12,500 | 27,390 | 149,113 |
| Charitable activities | 5 | 638,925 | – | 638,925 | 428,350 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 653,815 | 12,500 | 666,315 | 577,463 | |
| ================================ | ============================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 656,273 | 15,500 | 671,773 | 603,375 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 656,273 | 15,500 | 671,773 | 603,375 | |
| ================================ | ============================ | ================================ | ================================ | ||
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Net expenditure and net movement | in | ||||
| funds | (2,458) | (3,000) | (5,458) | (25,912) | |
| ================================ | ============================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 69,418 | 3,000 | 72,418 | 98,330 | |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 66,960 | – | 66,960 | 72,418 | |
| ================================ | ============================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 75 to 84 form part of these financial statements.
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VISION25
Statement of Financial Position
31 May 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 37,505 | 1,825 |
| Current assets | |||
| Cash at bank and in hand | 31,789 | 72,317 | |
| Creditors: amounts falling due within one year | 13 | 2,334 | 1,724 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 29,455 | 70,593 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 66,960 | 72,418 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 66,960 | 72,418 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | – | 3,000 | |
| Unrestricted funds | 66,960 | 69,418 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 15 | 66,960 | 72,418 |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 15[th] July 2024 and are signed on behalf of the board by:
T.L Dooley Trustee
J. Langford Trustee
G.Williams Trustee
The notes on pages 75 to 84 form part of these financial statements.
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VISION25
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 144 High Street, Stockton on Tees, TS18 1LX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 20% straight line Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations type | 1 | 14,890 | – | 14,890 |
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Grants | |||||
| SBC High Street Improvement Grant | – | 10,000 | 10,000 | ||
| Charities Trust | – | 500 | 500 | ||
| National Lottery | – | – | – | ||
| Bruce Wake | – | – | – | ||
| Community Foundation | – | – | – | ||
| The Teesside Charity | – | – | – | ||
| Noble Trust | – | 2,000 | 2,000 | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 14,890 | 12,500 | 27,390 | |||
| ============================ | ============================ | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 120,088 | – | 120,088 | ||
| Grants | |||||
| SBC High Street Improvement Grant | – | – | – | ||
| Charities Trust | – | – | – | ||
| National Lottery | – | 12,500 | 12,500 | ||
| Bruce Wake | – | 3,000 | 3,000 | ||
| Community Foundation | – | 3,000 | 3,000 | ||
| The Teesside Charity | – | 10,525 | 10,525 | ||
| Noble Trust | – | – | – | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 120,088 | 29,025 | 149,113 | |||
| ================================ | ============================ | ================================ | |||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Sale of goods/services as part of | |||||
| direct charitable activities | 616,967 | 616,967 | 428,350 | 428,350 | |
| Other income from charitable activities | 21,958 | 21,958 | – | – | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 638,925 | 638,925 | 428,350 | 428,350 | ||
| ================================ | ================================ | ================================ | ================================ |
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Activity type 1 | 643,617 | 15,500 | 659,117 |
| Support costs | 12,656 | – | 12,656 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 656,273 | 15,500 | 671,773 | |
| ================================ | ============================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Activity type 1 | 533,327 | 60,975 | 594,302 |
| Support costs | 9,073 | – | 9,073 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 542,400 | 60,975 | 603,375 | |
| ================================ | ============================ | ================================ |
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Activity type 1 | 659,117 | – | 659,117 | 594,302 |
| Governance costs | – | 12,656 | 12,656 | 9,073 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 659,117 | 12,656 | 671,773 | 603,375 | |
| ================================ | ============================ | ================================ | ================================ |
8. Net expenditure
Net expenditure is stated after charging/(crediting):
| Net expenditure is stated after charging/(crediting): | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 6,316 | 1,044 |
| ======================= | ======================= | |
| Independent examination fees | ||
| 2024 | 2023 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 840 | 700 |
| ============== | ============== |
9. Independent examination fees
10. Staff costs
The average head count of employees during the year was 35 (2023: 31).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
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VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2024
11. Trustee remuneration and expenses
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
12. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 June 2023 | 1,354 | 3,864 | 5,218 |
| Additions | 36,705 | 5,291 | 41,996 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| At 31 May 2024 | 38,059 | 9,155 | 47,214 |
| ============================ | ======================= | ============================ | |
| Depreciation | |||
| At 1 June 2023 | 881 | 2,512 | 3,393 |
| Charge for the year | 5,103 | 1,213 | 6,316 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| At 31 May 2024 | 5,984 | 3,725 | 9,709 |
| ============================ | ======================= | ============================ | |
| Carrying amount | |||
| At 31 May 2024 | 32,075 | 5,430 | 37,505 |
| ============================ | ======================= | ============================ | |
| At 31 May 2023 | 473 | 1,352 | 1,825 |
| ============================ | ======================= | ============================ | |
| Creditors: amounts falling due within one year | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 840 | 700 | |
| Other creditors - desc in a/cs | 1,494 | 1,024 | |
| ----------------------- | ----------------------- | ||
| 2,334 | 1,724 | ||
| ======================= | ======================= |
13. Creditors: amounts falling due within one year
14. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £6,225 (2023: £4,465).
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 June 2023 | Income | Expenditure | Transfers | 31 May 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 59,825 | 653,815 | (656,273) | (6,182) | 51,185 |
| Redundancy Reserve | 9,593 | – | – | 6,182 | 15,775 |
| ---------------------------- | -------------------------------- | -------------------------------- | ----------------------- | ---------------------------- | |
| 69,418 | 653,815 | (656,273) | – | 66,960 | |
| ============================ | ================================ | ================================ | ======================= | ============================ | |
| At | At | ||||
| 1 June 2022 | Income | Expenditure | Transfers | 31 May 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 56,547 | 548,438 | (542,400) | (2,760) | 59,825 |
| Redundancy Reserve | 6,833 | – | – | 2,760 | 9,593 |
| ---------------------------- | -------------------------------- | -------------------------------- | ----------------------- | ---------------------------- | |
| 63,380 | 548,438 | (542,400) | – | 69,418 | |
| ============================ | ================================ | ================================ | ======================= | ============================ |
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
15. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 June 2023 | Income | Expenditure | Transfers | 31 May 2024 | |
| £ | £ | £ | £ | £ | |
| Tees Valley Community | |||||
| Foundation | – | – | – | – | – |
| SBC High Street | |||||
| Improvement Grant | – | 10,000 | (10,000) | – | – |
| National Lottery | – | – | – | – | – |
| Noble Trust | – | 2,000 | (2,000) | – | – |
| Charities Trust | – | 500 | (500) | – | – |
| Teesside Charity | |||||
| Upcycle Furniture | – | – | – | – | – |
| Awards for All | – | – | – | – | – |
| Bruce Wake | – | – | – | – | – |
| Community Foundation | 3,000 | – | (3,000) | – | – |
| The Teesside Charity | – | – | – | – | – |
| ----------------------- | ---------------------------- | ---------------------------- | -------------- | -------------- | |
| 3,000 | 12,500 | (15,500) | – | – | |
| ======================= | ============================ | ============================ | ============== | ============== | |
| At | At | ||||
| 1 June 2022 | Income | Expenditure | Transfers | 31 May 2023 | |
| £ | £ | £ | £ | £ | |
| Tees Valley Community | |||||
| Foundation | 5,000 | – | (5,000) | – | – |
| SBC High Street | |||||
| Improvement Grant | – | – | – | – | – |
| National Lottery | 15,000 | 12,500 | (27,500) | – | – |
| Noble Trust | – | – | – | – | – |
| Charities Trust | – | – | – | – | – |
| Teesside Charity | |||||
| Upcycle Furniture | 5,000 | – | (5,000) | – | – |
| Awards for All | 9,950 | – | (9,950) | – | – |
| Bruce Wake | – | 3,000 | (3,000) | – | – |
| Community Foundation | – | 3,000 | – | – | 3,000 |
| The Teesside Charity | – | 10,525 | (10,525) | – | – |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------- | ----------------------- | |
| 34,950 | 29,025 | (60,975) | – | 3,000 | |
| ============================ | ============================ | ============================ | ============== | ======================= |
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Notes to the Financial Statements (continued)
Year ended 31 May 2024
16. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 37,505 | – | 37,505 |
| Current assets | 29,455 | – | 29,455 |
| ---------------------------- | -------------- | ---------------------------- | |
| Net assets | 66,960 | – | 66,960 |
| ============================ | ============== | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,825 | – | 1,825 |
| Current assets | 67,593 | 3,000 | 70,593 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| Net assets | 69,418 | 3,000 | 72,418 |
| ============================ | ======================= | ============================ |
84