Company Registration Numbèr.. CE019055 Charity Regi81ralion Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP (A CHARITABLE INCORPORATED ORGANISATIONI ANNUAL REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2023
Company Flegi8lralion Number.. CE019055 Charity Registration Number, 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP CONTENTS Trustees Report Statement of Financlal A¢livities Balance Sheet Notes to the Financia5 Statement
Company Rl$tratIOn Number.. GEO19055 Gharily Registration Number.. 1185803 NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES, REPORT The Trustees, who are dlreclors for the purposes ol company law, preserEI the annual report together with the financial statèments of the charitable company for Ihe year ended 31 December 2023. ObJe¢tives and activities Objects and aims la) To further or benefit the residents on, and surrounding, the Springs estate in the Redv81es Ward of East Bury. wilhoul distinction of sex, sexual orientation, race, or political, religious or other opinions by associating together the said resident and local authorities, voluntary and other organisalions in a common effort lo advance community development and education, and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents. Ibl To promote other such charitable purposes as may be determlned from tirne to Me. Public beneflt The Trustees have considered the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the period. The Truslees have, in their view, mel the public benefit requirement by making granls to individuals and institutions who are abl& lo further the charitys, objectives. The Trustees confirm that they have complied with the requirements of section 17 of the Charities Acl 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Reference and Administrative Details Charity Registration Number,. Company Registration Number.. 1185603 CE019055 The Charity is incorporated in England and Wales Clo Springs TMC 55 Dorsel Drive Registered affice-. Bury Lancashire BL9 9DN
Company Registration Number.. CE019055 Charity Registralion Number., 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES, REPORT Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Trustees.. SALund J A Green J A frost S Evans E Horrock8 J McKennife R Frost Structure, governance and management Financial instruments Objectives and policies The charity's activities expose it lo a number of financial risks, ir¢cluding credit risk, cash flow risk and liquidity Trsk. The use of financial derivatives is governed by the charity's policies approved by the board of Trustees, which provide wrillen principles on the used of financial derivatives lo manage theses risks. The charity does not Ltse derivative financial instrumen15 for specu18tive purposes. Cash flow rlsk The charity's activities expose il primarily lo the financial risks of changes in foreign currency exchange rates and Interest rates. The charity uses foreign exchange forward contracts and interest rale swap contracts to hedge theses exposures. Interest bearing assets 8nd liabilities are held al fixed rate lo ensure certainly of cash flows. Credit risk The charity's principle financial assets are bank balances and cash, trade and other receivables, ond inveslmenls. The charily's credit risk is primarily allributable lo ils trade receivables. The amounts presented in the balance sheet are nel of allowances for doubtful receivables. An allowance for impairment is made when there is an identified loss event which, bases on previous experience, id evidence of a reduction in the recoverability of the cash flows. Thg credil risk on liquid funds and derivative financial instruments is limited because Ihe counterparties are banks wSth high credil~ratings assigned by international credil-raling agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Company Registration Number.. CE019055 Chartly Registration Number.. 1185603 Liquidity risk In order to maintain liquidity lo ensure sufficient funds are available for ongoirEg operations and future developments, the charily uses a mixture of long-term and short-term debt flnance. Further delails regarding risky liquidity can be found in the statements of accounting policies in the financial statement.
Company Registration Number,. CE019055 Charlty Reoi31ralion Nurnb8r'. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES, REPORT statement of trustees, responsibilitles The trustees (who are also the directors of New Springs Community Project Group for the purposes of company lawl are responsible for preparing the Iruslees, report 8nd financial slalemenls in accordan with applicable law and Unil8d Kingdom Accounting Standards (United Kingdon generally Accepted Accounting Praclicel, including FRS 102 'The Financial Reporting Slandaid applicable in the UK and Republic of Ireland Company law requires the trustees to prepare a financia5 slalemenl for each financial year. Under company law the trustees must not approve the financial stalemenls unless they are 581isfied that they give a true and Fair view of the slate of affairs of tha charitable company and of the incoming resources and application ol résources, including ils income and 8xpendilure, of the charitable company for that period. In preparing Ihese fillancial statements, the Iruslees are required to.. sel8cI suitable accounting polscie8 and apply them consistently., observe methods and principles of the Chafbties SORP., make jydgemenls and eslimales that are reasonable and prudent.. slate whether applicable accounting standards, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial stalemenl,. and prepare the financial slalements on the going CDncern basis unless il is inappropriate to presume that the charitable company will continue in business. The trustees are responsitjle for keeping proper accounting records that can disclose with reasonable accuracy 81 any lime the financial position of the charitable company and enable them lo ensure that the financial slalemenls compty with the Companies Act 2006. They are also responsible for the safeguarding of the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other iryegularilies. The trustees are responsible for the mainl8nance and integrity of the corporate and financial information included on the charitable Company's website. Legislation governing the preparatitsn and dissemination of financial slat8menls may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on l &.la.4...ao.ILF And signed on ils b&half by.. SALund Trusl&e
Cornpany Registration Number.. CE019055 Charity Reg*5tration Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP Independent examlner's report to the trusteos of New Sprlngs Communlty Project Group Trust, I report to the trustees on my examination of the accounts of the N8w Springs Community Project Group Ithe TrtJst} for the year ended 31 December 2023. Responsibili118s and basi8 of r8POrt As the charity Irust8es of the Trusl you are responsible for th8 pr8parabon of the accoun18 in accordance with the raquirements of the Charities Act 20111'lhe Acl'l. I report in respect of my oxaminalion ol the Trust's accounts carried out under S. 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the ChaTiIy Gomrnission under s, 145(5llb} of the Act. Indepondenl examiner's slalement I have Completed my examination. I confirm that no material matters have come to my alleFtlion in connection with the examination giving rne cause lo believe that in any material respect.. 111 accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 121 the accounts do not accord wllh those records., or 131 the accounts do not comply with the applicable requirèments ¢oncerning the form and conlenl of accounts $81 out in the Charities (Accounts and Réportsl Regulations 2008 other than any requirement that the accounts give a 'ltue and fair view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other matters in conno¢tion with the examinalKJn lo which attention should bè drawn in this report in order to enable a propel understanding of th8 accoLinls lo be reached. Sigrted.. Name.. Date- cJL4
Company Registration Number. CE019055 Charity Reglslration Number.. 1185603 STATEMENT OF FINACIALACTIVITIES YEAR ENDED 31 DECEMBER 2023 INCLUDING INCOME AND EXPRENTITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unrestrictod funds Restricted funds Total 2023 Note Income 4Dd Endowments from: Donations and legacies 576 17,003 17,579 Investment Income 827 827 Total Income Expèndlture On: Raising funds Other expenditure 18804 Tol81 èxpenditure Net expenditure Transfer behmeen funds Nel movement in funds 9,95 14,294 24,250 Reetsnciliation of funds: Total funds brought fotward 23 823 Total funds carried fonward 14 75
Company Registration Number.. CE019055 Charity Registration Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP STATEMENT OF FINACIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023 (INCLUDING INCOME AND EXPRENTITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES} Unrgstylcted funds Restrictad funds Total 2022 Income and Endowmènts from: Denlalions and legacies 2,740 17,419 20,159 Investment Income 278 278 Total 1ncome Expendltur6 On.. Raising funds 111,2941 111,2941 Other expenditure Total expenditure Net 8xpendilure 16,0981 11,3691 17,4671 Transfer beiween funds Nal movement in funds (3,1331 14,3341 17.4e7} Reconclllatlon of funds- Total funds brought forward Total funds carried forward All of the charity'8 activities derive from continuing operatlons during the above two perlods.
Company Registration Number.. CE019055 Chailty Regislralion Number.. 1185603 NEW SPRINGS COMPJIUNITY PROJECT GROUP BALANCE SHEET AS AT 31 DECEMBER 2023 IREGISTRATION NUMBER.. CEO1905SI 2023 2022 Fixed assets Tangible assets CuTront assets 3,408 4,009 Debtors Cash al bank and in hand 15,751 21,614 Crodilors- Amounts falllng due withln onè yaor Nèt assèts Funds of the Charlty.. Restricted inGom& funds Restricted lunds 7,304 20,670 UnrestTiftod Income funds Unreslricled funds Totsl funds For the finan¢ial year ending 31 December 2(123 the charity was enliued to exemption from audti under sectson 477 of the Companies Acl 2Q06 relating lo small companies. Director8. responsibilities The members have not required the charity lo obtain an audit of Ils accounts for the year In quesllon In accordance with section 476,. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo a¢counling records aRd piepar31ion of aGcounls, The financial statements page 5- 14 were apprclved by the Tru51ees. and aulhorised for issue orb lo.IUt..... and signed on their behalf by.. SALund Trustee
Company Re9iStralion NumbeT'. QE019055 Charity Registration Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 1. Charity Status The charity is a CIO (Charitable Incorporaled Organisation), incorporated in England and Wales, and consequently does not have share capital. If the CIO is wound up, the members of the CIO have no liability to contribute lo its assets and no persornal responsibility for settling its debts and liabilities. The address of the registered office is.. Clo Springs TMC 55 Dorset Drive Bury Lancashire BL9 9DN 2. A¢¢ounting policie5 Summary of significant accounting policies and key accounting estimates The principal accounting polictes applied in the preparation of these financial slalements are sel out below. These policies have be applied consistently to all the years presernted, unless Otherwise staled. statement of compliance The financial statements have been prepared in accordance with Accounting arld porting by Charities.. Slalemenl of Recotnmended Practi { applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021) (issued in October 20190 - (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and Companies Acl 2006. Basis of preparation New Springs Community Project Group meets the definlllon of public benefit entity under FRS 102. Assets and liabilities are initially recognised al hislorical cost or transition value unless otherwise stated in the relevant accountancy policy notes. Going concern The Trustees consider that there are no material uncertainties about the charity's ability to continue as 2 going concern nor any significant areas of uncertainly that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow statement. The charity opted to early adopt Bulletin 1 published February 2016 and have therefore not included a cashflow statement in these fir¢ancial statements.
Company Regi81ration Number.. CE019055 Charfly Reglstralion Numb8r.' 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income and Endowmenls. All income is recognised once Ihe charity has enlillement to income. it is possible that the income will be received and the amount of Income receivable can be measures reliably. Grants receivable Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are allached lo the grant and are yel to be met, the income is recognised as a liability and included on the balance sheet as deferred income lo be releasès. Expendlture Ail expenditure is recognised once there is a legal or constructive obligation lo that expenditure. It is probabty settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that cAlegory. Where costs cannot be direclw atlribuled lo particular headings they have been allocated on a basis consislenl with the use of resources. Raising funds These are the costs incurred in allracling voluntary income, the management of investments and those incurred in trading activities that raise funds. Support costs Support costs include central functions and have been 811ocaled to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor area, or per capila, staff costs by the time spent on other costs by their usage, Taxatlon The charity is considertd to pass the tests sel out in paragraph 1 schedule 6 of the Finan Act 2010 and therefore meets Ihe definitlDn of a charitable company for UK corporation tax purposes. AcGordingly, the charity is potentially exempl from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 201 O or Section 256 of the Taxation or Chargeable Gains Act 1992, to the extent that such income gains are applied exclusively to charitable purposes. Tangible flxed assets Indwidual fixed assets are initially reGorded at cost, less and subsequent acGumu181ion depreciation and subseqLJent accumulation impairment losses.
Company Regislratlon Number.. CEO19055 Ch8rity Registration Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Depreciation method and rate 250/u straight line 25, straight line Asset class Fixtures and fittings Computer equipment Trade debtor Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised inillally at the transaction price. They are subsequenlly measuffd at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able lo collect all amounts due according to the original term of the receivable. Cash and cash equivalents Cash and cash equivalents comprise on hand and call deposits, and other short-term highty liquid investments that are readiSy convertible to a known amount of cash and are subject to an insignificanl risk of charige in value. Fund structure Unrestricted income funds are general funds that are available for used at the trustees discretion in fuTtherance of the objectives of the charilyl Reslricled income funds are those donated for the use in a particular area or for specific purposes, the use of which is reslricted to thar area or purpose. 3 Income from donations and legacies Income 2023 Restricted Grants 14,822 UTrreslricted Grants Total for 2023 4 Investment Income Unrest¥icled Funds 811 other Total for 2023
Company Regislrxtion Number.. CE019056 Chartly Regislratson Number., 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 5 Fund Expenditure 2023 Bank Petty Cash Total Reikityoga & Wellbeing Fund Room Hire Fund Post COVID Funding Tenant Donation Expenditure Chrislmas Fund LurÉcheon Club Fund Kitchen Fund Defibrillator Fund Ambition for Ageing Fund Kids Club Fund Garden Fund GMCVO Micro Grarbl Albert Hunt Trust Fund Bury VGFA Grant Fulld LMG Fund COL Grant Fund GM Fund 1,138.72 6.099.37 1,039.87 2,494.27 153.50 1,120.61 39.93 1,211.00 467.02 2,640.16 492.12 0.00 1,000.00 30.00 163.86 597.01 827.81 0.00 317.93 4.25 0.00 137.96 273.00 3.99 0.00 0.00 2,131.05 1,493.04 9.45 0.00 241.58 0.00 121.91 0.00 1,138.72 6,417.30 1,044.12 2,494.27 291.46 1,393.61 43.92 1.211.00 467.02 4,771.21 1,985.16 9.45 1,000.00 271.58 163.86 718.92 827.81 Total Expenditure 19,515.25 4,734.16 24,249.41 Operating Expendlture 2023 Stationary, Consumables etc. Maintenance Newsletters and Advertising Website & Software Telephone Accountant Fees Membèrship Fees Rent & Utilities Volunteer Related Expenses 149.40 22.68 291.43 312.24 466.79 1890.00 90.00 6660.02 406.95 Tolal for 2023
Company Registration Number.. CE019055 Charity Registration Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 6 Net incomingloutgoing resources Net outgoing resources for the year include.. 2023 2022 Depreciation of fixed assets 7 Trustees Remuneration and expenses No Iruslees, nor any person connected with them, have received and remuneration from Ihe charity during the year. No trustees have received any reimbursed expenses or any other benefit from the charity during the year. 8 Independent examiner's remuneration 2023 2022 Examination of financial statements 9 Taxation The charity is a registered charity and is therefore exempl from laxalion. 10 Tangible fixed assets Furniture and Equipment Total Cost At 1 January 2023 At 31 December 2023 20510 Depreciation Al 1 January 2023 Charge for the year 18,501 16.501 At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022 009
Company Regislrab'on Number.. CE019055 Charity Regislrallon Number.. 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11 Debtors 2023 2022 Other debtors 12 cash and equivalents 2023 2022 Cash al bank 13 Creditors: amounts failing due wlthln one year 2023 2022 14 Funds Balance at Balance at January 2023 Incoming Resour¢e$ Resources 31 expended Transfers December 2023 UnrestriGted funds General 3,153 4,574 10,978 4,510 8,447 Restrlcted funds 18035 Total funds
Company Registration Number.. CE019055 Charity Registration Number.. 1185803 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Balance at Balance at 1 January 2022 Incoming Resources Resources 31 expended Transfers December 2022 Unrestricted funds Gpneral 6,286 3,018 19,1161 2,965 3,153 Restrl¢ted funds Totsl fund5 15 Analysls of net assets between funds Unre5tYlctÈd Funds General Total funds at 31 December 2023 Restricted funds Tangible lixed assets Current assets Current liabilities 8,447 900 7,304 15,751 900 Total net assets Unrestrlcted Funds General Total funds at 31 December 2022 Restiirted funds Tangible fixed assets Current assets Current liabilities 4,009 16,662 4,009 21,614 4,952 Total net assets
Company Regislralion Number.. CE019055 Charity Reglslrallon Number,, 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 16. Analysis of net funds At31 At 1 January 2023 December 2023 Cash al bank and in harKI 21 615 Nel debt 21 At 1 January 2022 December 2022 Cash at bank and in hand Net debt 23 03