Company Registration Number: Charity Registration Number: CEOI 9055 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP Company Registration Number: CE019055 Charity Registration Number: 1185603 (A CHARITABLE INCORPORATED ORGANISATION) ANNUAL REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2024 Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP CONTENTS Trustees Report Statement of Financial Activities Balance Sheet Notes to the Financial Statement Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES' REPORT The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024. ## Objectives and activities Objects and aims (a) To further or benefit the residents on, and surrounding, the Springs estate in the Redvales Ward of East Bury, without distinction of sex, sexual orientation, race, or political, religious or other opinions by associating together the said resident and local authorities, voluntary and other organisations in a common effort to 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. Company Registration Number: CE019055 Charity Registration Number: 1185603 (b) To promote other such charitable purposes as may be determined from time to time. ## Public benefit 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 Trustees have, in their view, met the public benefit requirement by making grants to individuals and institutions who are able to further the charity’s objectives. The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 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: 1185603 Company Registration Number: CE019055 Charity Registration Number: 1185603 > Company Registration Number: CE019055 The Charity is incorporated in England and Wales > Registered Office: CIO Springs TMC 55 Dorset Drive Bury Lancashire ## BL9 9DN NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES' REPORT Company Registration Number: CE019055 Charity Registration Number: 1185603 ## Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees: S A Lund-Chair J A Frost-Secretary S Evans E Horrocks C L Taylor J K Jenkins ## Structure, governance and management Financial instruments Company Registration Number: CE019055 Charity Registration Number: 1185603 ## Objectives and policies The charity's activities expose it to a number of financial risks, including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of Trustees, which provide written principles on the used of financial derivatives to manage theses risks. The charity does not use derivative financial instruments for speculative purposes. ## Cash flow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge theses exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credit risk The charity's principle financial assets are bank balances and cash, trade and other receivables, and investments. Company Registration Number: CE019055 Charity Registration Number: 1185603 The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net 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. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance, Further details regarding risky liquidity can be found in the statements of accounting policies in the financial statement. Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP TRUSTEES' REPORT ## Statement of trustees' responsibilities The trustees (who are also the directors of New Springs Community Project Group for the purposes of company law) are responsible for preparing the trustees' report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdon generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Company law requires the trustees to prepare a financial statement for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and Fair view of the state of affairs of the charitable company and of the incoming Company Registration Number: CE019055 Charity Registration Number: 1185603 resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; observe methods and - principles of the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards, comprising FRS 102 have been followed, - subject to any material departures disclosed and explained in the financial statement; and prepare the financial statements on the going concern basis unless it is inappropriate to - presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply 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 irregularities. Company Registration Number: CE019055 Charity Registration Number: 1185603 The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on .14/07/2025 And signed on its behalf by: ## S A Lund Trustee NEW SPRINGS COMMUNITY PROJECT GROUP Company Registration Number: CE019055 Charity Registration Number: 1185603 Independent examiner's report to the trustees of New Springs Community Project Group Trust. I report to the trustees on my examination of the accounts of the New Springs Community Project Group (the Trust) for the year ended 31 December 2024. ## Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of 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 Charity Commission under s. 145(5)(b) of the Act. Independent examiner's statement have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: Company Registration Number: CE019055 Charity Registration Number: 1185603 - (1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or - (2) the accounts do not accord with those records; or - (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Roy Frost Name: Roy Frost Company Registration Number: CE019055 Charity Registration Number: 1185603 Relevant Position: Independent Accounts- Volunteer Address: 27 Sultan Street, Bury, Lancs BL9 9JP Date: 11/07/2025 Company Registration Number: Charity Registration Number: CEOI 9055 118560 3 ## STATEMENT OF FINACIAL ACTIVITIES ## YEAR ENDED 31 DECEMBER 2024 (INCLUDING INCOME AND EXPENDTURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) |C/F from 2023 at bank £15586.79||||Total| |---|---|---|---|---| ||Note|Funds|Funds|2024| |||2250.00|7008.00|9258.00| |Income and Endowments from:||||| |Donations and legacies||1267.50||1267.50| |Investment Income||381.85||381.85| |Total Income||3899.35|7008.00|10907.35| |Expenditure On:||||| |Raising funds||0.00|0.00|| |Other expenditure||||| |Total expenditure||||£11313.66| Company Registration Number: CE019055 Charity Registration Number: 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP FINACIAL STATEMENT OF ACTIVITIES YEAR ENDED 31 DECEMBER 2024 (INCLUDING INCOME AND EXPRENTITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) ||Unrestricted|Restricted|Total| |---|---|---|---| ||Funds|funds|2024| |Income and Endowments from:|||| |Dentations and legacies|||| |Investment Income|£381.85||| ||||£381.85| |Total Income £381.85|||| |Expenditure On:|||| |Raising funds 0.00|||| |Total expenditure £11313.66|||| |Net expenditure|||£11313.66| ||||)| |Transfer between funds|||| |Net movement in funds|||)| |Reconciliation of funds:|||| |Total funds brought forward|£12006.96||| |Total funds carried forward|£12006.96||| All of the charity's activities derive from continuing operations during the above two periods. BALANCE SHEET AS AT 31 DECEMBER 2024 (REGISTRATION NUMBER: CE019055) Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP |Fixed assets|| |---|---| |Tangible assets|0.00| |Current assets|| |Debtors|0.00| |Cash at bank and in hand|£11, 956.26 bank| ||£50.70 petty cash| |Creditors: Amounts falling due within one year|0.00| |Net assets|0.00| |Funds of the Charity:|£12006.96| |Restricted income funds|| |Restricted funds|£5048.00| |Unrestricted income funds|£6958.96| |Total funds|12006.96| For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts. The financial statements on page 5 — 14 were approved by the Trustees, and authorised for issue on 14/07/2025 .. and signed on their behalf by: ## SA Lund Trustee Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 1. Charity Status The charity is a CIO (Charitable Incorporated 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 to its assets and no personal responsibility for settling its debts and liabilities. The address of the registered office is: C/o Springs TMC 55 Dorset Drive ## Lancashire ## BL9 9DN ## 2. Accounting policies ## Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have be applied consistently to all the years presented* unless otherwise stated. ## Statement of compliance The financial statements have been prepared in accordance with Accounting and reporting by Charities: Statement of Recommended Practice ( applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 20190 — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Companies Act 2006. ## Basis of preparation New Springs Community Project Group meets the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical 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 a going concern nor any significant areas of uncertainty 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 financial statements. Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## Income and Endowments. All income is recognised once the charity has entitlement 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 attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be releases. ## Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure. It is probably settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, ## Raising funds These are the costs incurred in attracting 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 allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor area, or per capita, staff costs by the time spent on other costs by their usage. ## Taxation The charity is considered to pass the tests set out in paragraph 1 schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 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 fixed assets Individual fixed assets are initially recorded at cost, less and subsequent accumulation depreciation and subsequent accumulation impairment losses. Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class £0.00Depreciation method and rate Fixtures and fittings £0.0025% straight line Computer equipment £0.0025% straight line 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 initially at the transaction price. They are subsequently measured 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 to 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 highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## Fund structure Unrestricted income funds are general funds that are available for used at the trustees discretion in furtherance of the objectives of the charity/ Restricted income funds are those donated for the use in a particular area or for specific purposes, the use of which is restricted to thar area or purpose. ## 3 Income from donations and legacies |Income 2024|| |---|---| |Restricted Grants|£7008.00| |Unrestricted Grants|£2250.00| |Total for 2024|£9258.00| |Investment Income|£381.85| |Unrestricted Funds|£1267.50| |Other|| |Total for 2024|£10907.35| 2024 Company Registration Number: CE019055 Charity Registration Number: 1185603 NEW SPRINGS COMMUNITY PROJECT GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 5 Fund Expenditure 2024 Total £12322.1 expenditure 1 2024 ## 6 Net incoming Grants and Donations and Interest from bank £10907.35 2024 Company Registration Number: CE019055 Charity Registration Number: 1185603 ## NEW SPRINGS COMMUNITY PROJECT GROUP ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## 7 Trustees Remuneration and expenses No trustees, nor any person connected with them, have received and remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefit from the charity during the year. At 31 December 2024 ## 11 Debtors **----- Start of picture text -----**
2023
2022
Other debtors
12 cash and equivalents
2023
2022
13 Creditors: amounts failing due within one year
2023 2022
900 1 800
Cash at bank 15 587
21 614
**----- End of picture text -----**
2024 ## Company Registration Number: Charity Registration Number: NEW SPRINGS COMMUNITY PROJECT GROUP ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14 Funds |Unrestricted funds
General
Restricted funds|Balance at
1 January
2023
3,153
20 670|Incoming
Resources
4,574
13 832|Resources
expended
10,978
18035|Transfers
4,510
(4.510)|Balance at
31
December
2023
8,447
7 304| |---|---|---|---|---|---| CEOI 9055 1185603 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024