## **RETURNMK**
## **FINANCIAL STATEMENTS AND TRUSTEES REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **CHARITY NUMBER 1189422**
Page **1** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INDEX**||
|---|---|
|**Contents**|**Page**|
|Legal and Administrative information|3|
|Report of the Trustees|4-5|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes forming part of the financial statements|9-11|
Page **2** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **LEGAL AND ADMINISTRATION INFORMATION**
Charity Registered on the 11 May 2020
The charity is governed and registered with the Charity Commission under the charity number 1189422
## **Trustees:**
The trustees serving during the year and since the year ended were as follows:
Jason Lawrence
Emma Ferns
Michael Thomas
## **Registered Office and Operation address:**
Unit 16-17 Denbigh Hall Bletchley Milton Keynes MK3 7QT
## **Accountants:**
Super Accounts Tax Vat and Payroll Ltd
Unit Vt 89
Bletchley Business Campus 1-9 Barton Road
Bletchley
Milton Keynes
MK2 3HU
Page **3** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **TRUSTEES REPORT:**
The Trustees have the pleasure of submitting their report and the financial statements for the year ended 31st December 2024
## **Objectives of the Charity:**
ReturnMK is a registered charity which provides funded and subsidised alternative activities that engage young people in the Milton Keynes and surrounding areas otherwise excluded from mainstream schools/activities to enable them to have a sense of social inclusion. We also have initiatives that incorporate after-school and holiday projects. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
## **Achievements and Performance**
ReturnMK also have initiatives that incorporate after-school activities and holiday projects. Although our service originates from a music and multimedia prospective, ReturnMK have developed and expanded to now include vocational and business training, an enterprise scheme and an outreach program.
## **Governance and Internal Control**
The trustees meet regularly within the year to review the strategy and performance and to set the operational plans and budgets.
## **Financial Activities and Results:**
The net Surplus for the year amounted to £19011.00
## **Investment Policy:**
The memorandum and article of association which state clear guidelines on investment policy governs the trustees’ investments power.
## **Reserve Policy:**
It is the policy of the charity to maintain unrestricted funds, which are reserves of the charity. This provides sufficient funds to cover any emergency expenditure that may arise from time to time.
## **Risk Management**
The charity has assessed all the major risks to which the charity is exposed to, in a particular those related to operation and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks.
Page **4** of **11**
## **Trustee Responsibilities:**
The Charity Act 2005 requires the trustees to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of ReturnMK. They are required to;
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. Prepare financial statements on the going concern basis.
They are responsible for keeping proper records which disclose with reasonable accuracy of the finances of ReturnMK at any time and to ensure that such accounts comply with the Charities Act 1993. They also have responsibility to safeguard the assets of the charity and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees and signed on their behalf by
Signature: …………………………. Name: Jason Lawrence
Date: 18/03/2025
Page **5** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
I, Joshua Ashitey report on the accounts of ReturnMK for the year ended 31[st] December 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
## **Respective responsibilities of trustees and examiner**
The trustees of ReturnMk are responsible for the preparation of accounts. They consider that the audit requirement under section 43 (2) of the Charities Act 1993 does not apply. It is my responsibility to;
- Examine the accounts under section 43 (2) of the 1993 Act.
- Follow the procedures laid down in the general directions given by the Charity Commissioners made under section 43 (7) (b) of the 1993 Act.
- 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 and is in accordance with Regulation of the charity Account 2006. The 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 undertaking does not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s statement**
In the course of my examination, no matter has come to my Attention;
- (1) Which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
- Proper accounting records are kept in accordance with section 41 of the 1993 Act and section 44 (1) (a) of the 2005 Act and Regulation of the 2006
- Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act: or
- (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
JOSHUA ASHITEY FMAAT
LICENSED ACCOUNTANT
Date: 18/03/2025
Page **6** of **11**
## CHARITY NO 1189422 RETURNMK **FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**
**ENDED 31 DECEMBER 2024**|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**
**ENDED 31 DECEMBER 2024**|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**
**ENDED 31 DECEMBER 2024**|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**
**ENDED 31 DECEMBER 2024**|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**
**ENDED 31 DECEMBER 2024**|
|---|---|---|---|---|
|Period start date
**1st JAN**|**2024**||**To**|31st
DEC
2024|
|**Categories by**
**activity**
**Details**
**of own**
**analysis**
**Unrestricted**
**funds**
**Incoming resources**
NOTE
**£**
**Incoming resources**
**from generated**
**funds**
Donation income
2
38196
Activities for
generating funds
Investment income
_
_
**Incoming resources**
**from charitable**
**activities**
**Other incoming**
**resources**
_
_
**_Total incoming resources_**
**38196**
**Resources Expended**
**NOTE**
**Costs of Generating Funds**
Costs of generating voluntary
income
3
5203
**Charitable activities**
4
4548
**Governance costs**
5
9434
**Other resources expended**
_
**_Total resources expended_**
**19185**
**_Net incoming/(outgoing) resources_**
**_before transfers_**
**_Net movement in funds_**
**19011**
**Total funds brought forward**
_
**_Total funds carried forward_**
**19011**|||**Restricted**
**funds**
**£**
0.00
_
_
**0.00**
0.00
0.00
0.00
_
**0.00**
**0.00**
_
**0.00**||
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**CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
||**Details**|||||||
|---|---|---|---|---|---|---|---|
||**of own**||||**Total**||**Total**|
||**analysi**|**Unrestricted**|**Restricted**||**this**||**last**|
||**s**|**funds**||**funds**|**year**||**year**|
||NOTE|**£**||**£**|**£**||**£**|
|**Fixed assets**||||||||
|**Tangible assets**|6|0.00|_|0.00|0.00||-|
|**Investments**||_|_||_|_||
|**_Total fixed assets_**||**0.00**|_|0.00|**0.00**||-|
|**Current assets**||||||||
|**Cash at bank and in**||||||||
|**hand**||19011||0.00|19011||-|
|**_Total current assets_**||**19011**||0.00|19011||-|
|**_Net current_**||||||||
|**_assets/(liabilities)_**||**19011**||0.00|**19011**||-|
|**_Total assets less_**||||||||
|**_current liabilities_**||**19011 **||0.00|**19011**||-|
|**_Net assets_**||**19011**||0.00|**19011**||-|
|**Funds of the**||||||||
|**Charity**||||||||
|**Unrestricted fund**||19011||0.00|19011||-|
|**Restricted fund **||||0.00|0.00||-|
|**_Total funds_**||**19011**||**0.00**|**19011**||-|
The financial statements were approved by the board and signed on its behalf by
Signature: ………………. Name: Jason Lawrence Date: 18/03/2024
Page **8** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
Notes to the Financial Statements for the year ended 31 December 2024
## 1 **ACCOUNTING POLICIES**
## **(A)** Accounting Convention and Compliance
These accounts have been drawn up on the basis of going concern and the financial statements prepared under the historical cost convention in accordance with applicable standards and the charity Acts 2005. The statements comply with best practice and reflect the requirements of the revised Statement of Recommended Practice (SORP) 2005, Accounting for Charities.
## **(B)** Recognition of Income and Expenditure
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities in the year in which they are received. The value of services provided by volunteers has not been included.
Resources expended are recognized in the period in which they are incurred. Resources expended include attributable Vat which cannot be recovered.
## **General Fund**
Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Funds
## **Restricted Funds**
These comprise donations, legacies or other income, the use of which has been specified by the donor.
## **Endowment Funds**
There are currently no endowment funds
## **(C) Depreciation**
All fixed assets are capitalized. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives.
Page **9** of **11**
## **CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
|**THE YEAR ENDED 31 DECEMBER 2024**||||
|---|---|---|---|
|
**2 DONATIONS & SIMILAR INCOME RESOUCES**
**UNRESTRICTED**
**FUNDS**
£
Tithes & Offering (including Gift Aid)
38,196.00
**3 COST OF GENERATING FUND**
Welfare
Advertising
Summit & Conference Cost
**TOTAL**
**4 CHARITABLE ACTIVITIES:**
Fuel And Oil
Council Tax
Insurance
Rent
Music Production
Anniversary, Outreach & Fellowship
Professional fees
Postage and Stationery
Depreciation
**TOTAL**||**RESTRICTED**
**FUNDS**
£
0.00
**2024**
843.00
3160.00
1,200.00
**5,203.00**|**TOTAL**
**2024**
**TOTAL**
**2023**
£
£
**38,196.00**
**-**
**2023**
0.00
0.00
0.00
**0.00**
**2023**
£
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
**0.00**|
|||**2024**
£
211.00
0.00
121.00
195.00
638.00
2108.00
1200.00
75.00
00.00||
|||**4548.00**||
Page **10** of **11**
**CHARITY NO 1189422 RETURNMK FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **5 GOVERNANCE COST:**
|Administration Electricity, Tel
**6 TANGIBLE FIXED ASSETS:**
**EQUIPMENT **
£
Cost
0.00
31 Oct Depreciation
0.00
**31 Oct Net Book Value**
0.00|2024
2023
£
£
**9434.00**
**0.00**
**FURNITURE**
**VEHICLE**
**TOTAL**
£
£
£
0.00 0.00
00.00
0.00 0.00
00.00
0.00
0.00
0.00|
|---|---|
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