Improving Ilkley
Charity no. 1193192
Trustees Annual Report and Accounts
Period ended 31[st] January 2023
Improving Ilkley
Accounts for the period ended 31[st] January 2023
Report of the Board of Trustees/Directors for the period ended 31 January 2022
The Trustees are pleased to present their annual report together with the charity’s financial statements for period ending 31st January 2022.
Structure, governance and management
Improving Ilkley is a CIO registered with the Charities Commission on the 22[nd] January 2021.
Governing Document: Charitable Incorporated Organisation (Foundation Structure) Whose Only Voting Members Are its Trustees
All Trustees give their time voluntarily and receive no benefits from the charity.
Our Trustees
Karl Milner (chair) Matthew Ward Louise Hepworth Wood
Vision
To promote any charitable purpose for the benefit of the public, in the neighbourhood of Ilkley in West Yorkshire, and the surrounding area (hereinafter called the area of benefit). To promote the effective use of resources for charitable purposes by charitable and non-charitable bodies for the benefit of the public in the area of benefit by co-ordinating, encouraging and facilitating co-operation and partnership between third sector, statutory and other relevant bodies.
Activities in 2021/22
This time period was marked by our first project – The Ilkley Station Flower Beds. All three beds have now been successfully completed and were opened in June 2021 by Alan Titchmarsh.
The projects was ultimately successful but not without its challenges. The learning curve was significant and the contacts made both locally and regionally will ensure a smoother delivery of future projects.
The second project: Brook Street Fountain has begun with a feasibility study commissioned in advance of council (as landowner) approval of the plans. We are at the technical phase of the plan as of 28/06/2022 with appropriate professional consultants engaged with and liaising with Bradford council. Upon a technical delivery decision Improving Ilkley will then go to a tendering process for accurate costings. The project will then move into funding phase where we aim to be fully funding prior to breaking ground. Project completion is due by summer 2023.
Our supporters and donors:
We would like to thank our principal benefactors for project 1: Roger and Julia Yaxley Cllr Anne Hawksworth Ilkley Town Council Bradford Highways Ilkley Rotary & Ilkley and Wharfdale Rotary Ilkley BID Denisons Funeral Service
Improving Ilkley
Accounts for the period ended 31[st] January 2023
Report of the Board of Trustees/Directors for the period ended 31 January 2023
In preparing the financial statements, the trustees are required to:
• Select suitable accounting policies and then apply them consistently; • Observe the methods and principles in the Charities SORP; • Make judgements and estimates that are reasonable and prudent; • Adhere to agreed procedures for managing conflicts of interest; • State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.
Financial Review
The charity has, through the successful grant applications, individual donations and fundraising activities secured a positive financial outcome.
Principal Funding Sources
The main income streams for the charity comprised of grant applications. Other income was received from several sources including fundraising activities; donations from individuals, businesses and local community groups.
Reserves Policy
The Trustees' policy is that the Charity should have sufficient unrestricted reserves to enable it to meet its financial obligations as and when they fall due without prejudicing the ability of the Charity to raise funding and commit expenditure to its objectives.
The Trustees carefully considered the financial obligations of the company and have determined a reserve policy that is aimed at protecting a minimum reserve whilst managing funds to ensure that they are appropriately used to support the Charities aims. These are reviewed on an annual basis.
Aside from retaining a prudent level of reserves each year, the charity’s funds will be invested in activities to further the objects as set out in our Memorandum and Articles of Association. The Board is committed to reinvesting any surplus funds, will on an annual basis review the charity’s investment priorities and agree relevant investments to meet identified needs and opportunities aligned to our objects.
Risk Policy
The trustees have a risk management strategy that comprises:
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An annual review of the principal risks and uncertainties that the charity faces;
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the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
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the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
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Improving Ilkley
Accounts for the period ended 31[st] January 2023
Administrative information:
Improving Ilkley – Registered Charity (CIO) 1193192 Contact details Tel: 01943603348
Independent Examiner Jody Kendall ACA
Administration Address: Moorlands Maxwell Road ILKLEY West Yorkshire LS29 8RP
Bankers: Virgin Money
Signed on Behalf of the Trustees
8/8/2023
Improving Ilkley
Accounts for the period ended 31[st] January 2023
Independent Examiners Statement
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities 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 Charities 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 Charities Act, and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with 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 the 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 statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
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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 Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
Date 19/8/2023
Improving Ilkley
Accounts for the period ended 31[st] January 2023
Year ended 31st January 2023
| Income Grants Donations Gift Aid Other Total income Expenditure Project costs - Flower Beds Project costs - Fountain Administrative expenses Total expenditure Net income/(expenditure) Net movement in funds Fund balances brought forward Fund balances carried forward |
YE 31st Jan 2022 £ - 7,432 3,507 125 11,064 (10,080) (1,610) (553) (12,243) (1,179) (1,179) 3,224 2,045 |
PE 31st Jan 2022 15,000 14,612 - 8 |
|---|---|---|
| 29,620 | ||
| (26,260) - (136) |
||
| (26,396) | ||
| 3,224 | ||
| 3,224 | ||
| - | ||
| 3,224 |
Improving Ilkley
Accounts for the period ended 31[st] January 2023
| Balance Sheet Year ended 31st January 2023 Fixed assets Tangible assets Investments Total fixed assets Current assets Debtors and prepayments Short term investments Cash at bank and in hand Total current assets Current liabilities: amounts falling due within one year Creditors and accruals Total current liabilities Net current assets / (liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Net assets Funds Unrestricted funds Restricted funds Endowment funds Total funds |
Unrestricted £ - - - - - 12,045 12,045 (100) (100) 11,945 11,945 (9,900) 2,045 2,045 - 2,045 |
Restricted £ - - - - - - - - - - - - - - - - |
31st Jan 2023 £ - - - - - 12,045 12,045 (100) (100) 11,945 11,945 (9,900) 2,045 2,045 - 2,045 |
31st Jan 2022 £ - - - - - 3,324 3,324 (100) (100) 3,224 3,224 - 3,224 3,224 - 3,224 |
|---|---|---|---|---|
Signed on behalf of the Trustees:
Date: 8/8/2023
Improving Ilkley
Accounts for the period ended 31[st] January 2023
1 Accounting Policies
Charity status
The charity is a CIO and consequently does not have share capital.
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 been consistently applied 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Improving Ilkley meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting 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.
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 released.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2 Independent Examination Fee
Improving Ilkley
Accounts for the period ended 31[st] January 2023
The fee for independent examination of the accounts was £100.
3 Contracted costs
In relation to the prior year end, 31[st] January 2022 £1500 of project costs had been agreed. The work had not been completed as at 31[st] January 2022, so no accrual has been made.
4 Loan with Related Party
On 14[th] December 2022, a loan of £9,900 was provided to the Charity by Matthew Ward (Trustee). This loan is not interest bearing and the term is over 1 year.