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2023-12-31-accounts

Digitally Signed Document Document ID: DD7813BC6B7258

Document Details

Filename: DiscoverU YE 31-12-2023 - Accounts.PDF
Client of: Lewis Smith & Co.

Signature Details

Name: Steve Smith
Email: steve@discoveru2015.org
Date & Time: 27/06/2024 15:37:26 PM (BST)
IP Address: 92.19.228.251
Signing Statement: The trustees approve the financial statements. We
confirm we will file the accounts with the Charity
Commission as necessary.

Digital Certificate

The approved PDF file has been digitally certified.Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with.

On behalf of: Lewis Smith & Co.
PDF digital certificate: IRIS Software Group Limited
Digital certificate issued by: GlobalSign

Please keep a copy of this document for your records.

REGISTERED COMPANY NUMBER: CE027569 (England and Wales) REGISTERED CHARITY NUMBER: 1197061

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2023

for

Discover U

Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Discover U

Contents of the Financial Statements for the Year Ended 31 December 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 15
Detailed Statement of Financial Activities 16 to 17

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Reference and Administrative Details for the Year Ended 31 December 2023

TRUSTEES

REGISTERED OFFICE

Mr D Reynolds Ms K Jenkins Mr S Mills Mr S Smith 72 Bridgnorth Road Wollaston West Midlands DY8 3PA

REGISTERED COMPANY CE027569 (England and Wales) NUMBER

REGISTERED CHARITY NUMBER 1197061

INDEPENDENT EXAMINER

Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Page 1

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for the Year Ended 31 December 2023

Report of the Trustees

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the CIO are to provide work related experience to adults with some level of learning disability or others similarly disadvantaged because of physical disability.

The charity aims to relieve the needs of disabled people by:

1) providing education, training and support for people with a learning disabilities.

2) by helping to find work placements and where possible paid work for said people.

Significant activities

The charity runs a tearoom, workshop and retail shop to impart social, emotional and employability skills for those with a learning disability.

Charity Commission guidance on public benefit

Trustees have been advised of their responsibilities regarding their roles and have read the Charity Commission guidance.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity has further increased the number of members accessing the service compared to last year by virtue of opening DU2 in Stourbridge and also adding members in Wollaston. The member numbers at the end of December was 88, which translates to 1,158 hours of support per week.

The charity has acquired the lease on an additional property at 68 High Street, Wollaston to serve as a life skills centre for a twelve month period from April 2023, with intent to increase to a longer term agreement in 2024.

Achievements against objectives set

DU2 continues to develop. It has successfully increased the number of members and successfully opened an IT suite.

The agreement of new lease at at 68 High Street, Wollaston as mentioned above.

Performance of fundraising activities against objectives set

The final lottery payment due in January 2024 and the charity received a £25k award from Eveson trust during the year.

FINANCIAL REVIEW

Financial position

During the year ended 31st December 2023 the charity received income amounting to £445,232 (2022 - £393,107) and had expenditure incurred in pursuit of the charity's objects of £439,293 (2022 - £392,582).

Therefore, the charity's surplus for the year was £5,939 (2022 - £525) and at the year end date the funds of the charity were £135,375 (2022 - £128,911).

Based on the above the trustees are satisfied that the charity has showed that it has a stable financial income with no deficits and looks stable for the coming year.

Principal funding sources

The charity's principle sources of funding come from member income, tearoom income, craft income, donations and grants.

Page 2

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for the Year Ended 31 December 2023

Report of the Trustees

FINANCIAL REVIEW

Reserves policy

We ideally look to hold three months of reserves for the charity to cover bills and salaries. At the year end the reserves of the charity were equal to around 3.5 months of expenses. Our reserves continue to be maintained at similar levels to the previous year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is a Charitable Incorporated Organisation (CIO) and was registered on 13 December 2021.

Trustees Information

The names of the trustees are listed on page one within Reference and Administrative Details.

Induction and training of new trustees

Typically, we would recruit from people who are known to DiscoverU and have some experience relative to our cause. As per our governing document when selecting individuals for appointment any new charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Key management

The charity is mainly run by its Chief Officer Jennifer Bradley, who is not a trustee of the charity.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... Mr S Smith - Trustee

Page 3

Independent Examiner's Report to the Trustees of Discover U

Independent examiner's report to the trustees of Discover U ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mr Craig Alan Beale ACCA The Association of Chartered Certified Accountants

Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Date: .............................................

Page 4

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Statement of Financial Activities

for the Year Ended 31 December 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
9,525
Other trading activities
3
361,614
Other income
1,451
Total
372,590
EXPENDITURE ON
Trading activities
238,589
Charitable activities
Other expenses
146,437
Total
385,026
NET INCOME/(EXPENDITURE)
(12,436)
RECONCILIATION OF FUNDS
Total funds brought forward
121,936
TOTAL FUNDS CARRIED FORWARD
109,500		 Period
13.12.21
Year Ended
to
31.12.23
31.12.22
Restricted
Total
Total
funds
funds
funds
£
£
£
72,642
82,167
75,800
-
361,614
314,732
-
1,451
2,575
72,642
445,232
393,107
48,892
287,481
267,904
5,375
151,812
124,678
54,267
439,293
392,582
18,375
5,939
525
7,500
129,436
128,911
25,875
135,375
129,436		 Period
13.12.21
Year Ended
to
31.12.23
31.12.22
Restricted
Total
Total
funds
funds
funds
£
£
£
72,642
82,167
75,800
-
361,614
314,732
-
1,451
2,575
72,642
445,232
393,107
48,892
287,481
267,904
5,375
151,812
124,678
54,267
439,293
392,582
18,375
5,939
525
7,500
129,436
128,911
25,875
135,375
129,436
393,107
267,904
124,678
392,582
525
128,911
129,436

The notes form part of these financial statements

Page 5

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Balance Sheet

31 December 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
46,839
CURRENT ASSETS
Stocks
9
800
Debtors
10
43,003
Cash at bank and in hand
25,811
69,614
CREDITORS
Amounts falling due within one year
11
(6,953)
NET CURRENT ASSETS
62,661
TOTAL ASSETS LESS CURRENT
LIABILITIES
109,500
NET ASSETS
109,500
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
5,625
-
-
20,250
20,250
-
20,250
25,875
25,875		 31.12.23
Total
funds
£
52,464
800
43,003
46,061
89,864
(6,953)
82,911
135,375
135,375
109,500
25,875
135,375		 31.12.22
Total
funds
£
60,104
500
38,758
36,969
76,227
(6,895)
69,332
129,436
129,436
121,936
7,500
129,436

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

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Balance Sheet - continued

31 December 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Mr S Smith - Trustee

The notes form part of these financial statements

Page 7

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Notes to the Financial Statements for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants are credited to the Statement of Financial Activates when received. Grants not yet received for expenditure already incurred are recognised as accrued income to match the related expenditure in the Statement of Financial Activates.

Craft and tea room sales income is credited to the Statement of Financial Activates when received.

Members fees income received through the provision of the charity's services are credited to the Statement of Financial Activates in the period to which it relates.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - Straight line over the period of lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 30% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities. The small trading exemption applies to the charity's trading activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Donated goods

Due to the charity's size, volunteer services are not valued in the financial statements as it is considered that the cost of doing so would be out of proportion to the benefit derived.

2. DONATIONS AND LEGACIES

3.

Year Ended
31.12.23
£
Donations
9,525
Grants
72,642
82,167
Grants received, included in the above, are as follows:
Year Ended
31.12.23
£
National Lottery Community Fund
44,142
Dudley MBC
-
DPD Community Fund
2,500
Evesson Trust
25,000
Christmas Fund
1,000
72,642
OTHER TRADING ACTIVITIES
Year Ended
31.12.23
£
Craft sales
13,725
Tea room sales
45,464
Member fees
302,425
361,614		 Period
13.12.21
to
31.12.22
£
23,333
52,467
75,800
Period
13.12.21
to
31.12.22
£
37,467
15,000
-
-
-
52,467
Period
13.12.21
to
31.12.22
£
18,585
45,016
251,131
314,732

continued...

Page 9

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
13.12.21
Year Ended to
31.12.23 31.12.22
£ £
Depreciation - owned assets 17,482 15,714
Surplus on disposal of fixed assets - (2,119)

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.

6. STAFF COSTS

Year Ended
31.12.23
£
Wages and salaries
284,263
Social security costs
11,674
Other pension costs
3,875
299,812
The average monthly number of employees during the year was as follows:
Year Ended
31.12.23
Average number of employees
20		 Period
13.12.21
to
31.12.22
£
268,040
10,277
3,422
281,739
Period
13.12.21
to
31.12.22
19

No employees received emoluments in excess of £60,000.

Key Management Personnel

In the year, the total aggregate costs relating to key management personnel (which is considered to be the charity's Chief Officer) were £34,329 (2022 - £33,198). This cost includes gross salary and employers national insurance (no pension contributions made). The Chief Officer is not a trustee of the charity.

continued...

Page 10

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
8,333
67,467
Other trading activities
314,732
-
Other income
2,575
-
Total
325,640
67,467
EXPENDITURE ON
Trading activities
220,437
47,467
Charitable activities
Other expenses
107,178
17,500
Total
327,615
64,967
NET INCOME/(EXPENDITURE)
(1,975)
2,500
RECONCILIATION OF FUNDS
Total funds brought forward
123,911
5,000
TOTAL FUNDS CARRIED FORWARD
121,936
7,500
8.
TANGIBLE FIXED ASSETS
Improvements

to
Plant and
property
machinery
£
£
COST
At 1 January 2023
51,156
4,428
Additions
9,076
-
At 31 December 2023
60,232
4,428
DEPRECIATION
At 1 January 2023
10,231
3,813
Charge for year
12,046
154
At 31 December 2023
22,277
3,967
NET BOOK VALUE
At 31 December 2023
37,955
461
At 31 December 2022
40,925
615		 Total
funds
£
75,800
314,732
2,575
393,107
267,904
124,678
392,582
525
128,911
129,436
Fixtures
and
fittings
£
8,311
766
9,077
4,985
944
5,929
3,148
3,326

continued...

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

8. TANGIBLE FIXED ASSETS - continued

COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
9.
STOCKS
Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Accrued income
Prepayments		 Motor
Computer
vehicles
equipment
Totals
£
£
£
14,280
5,532
83,707
-
-
9,842
14,280
5,532
93,549
3,570
1,004
23,603
2,678
1,660
17,482
6,248
2,664
41,085
8,032
2,868
52,464
10,710
4,528
60,104
31.12.23
31.12.22
£
£
800
500
31.12.23
31.12.22
£
£
12,823
12,041
19,138
20,322
11,042
6,395
43,003
38,758		 Totals
£
83,707
9,842
93,549
23,603
17,482
41,085
52,464
60,104
38,758

continued...

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Pension creditor
Accrued expenses
12.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
13.
MOVEMENT IN FUNDS
At 1.1.23
£
Unrestricted funds
General Fund
121,936
Restricted funds
National Lottery Community Fund
-
Restricted Donations Fund
7,500
Evesson Trust Fund
-
7,500
TOTAL FUNDS
129,436		 31.12.23
£
87
3,585
761
2,520
6,953
31.12.23
£
37,750
74,000
111,750
Net
movement
in funds
£
(12,436)
1,500
(1,875)
18,750
18,375
5,939		 31.12.22
£
597
3,227
677
2,394
6,895
31.12.22
£
39,250
111,750
151,000
At
31.12.23
£
109,500
1,500
5,625
18,750
25,875
135,375

continued...

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Restricted funds
National Lottery Community Fund
Restricted Donations Fund
DPD Community Fund
Evesson Trust Fund
Christmas Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General Fund
Restricted funds
Restricted Donations Fund
TOTAL FUNDS		 Incoming
resources
£
372,590
44,142
-
2,500
25,000
1,000
72,642
445,232
At
13.12.21
£
123,911
5,000
128,911		 Resources
Movement
expended
in funds
£
£
(385,026)
(12,436)
(42,642)
1,500
(1,875)
(1,875)
(2,500)
-
(6,250)
18,750
(1,000)
-
(54,267)
18,375
(439,293)
5,939
Net
movement
At
in funds
31.12.22
£
£
(1,975)
121,936
2,500
7,500
525
129,436

continued...

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Notes to the Financial Statements - continued for the Year Ended 31 December 2023

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Restricted funds
National Lottery Community Fund
Dudley MBC Fund
Restricted Donations Fund
TOTAL FUNDS		 Incoming
resources
£
325,640
37,467
15,000
15,000
67,467
393,107		 Resources
Movement
expended
in funds
£
£
(327,615)
(1,975)
(37,467)
-
(15,000)
-
(12,500)
2,500
(64,967)
2,500
(392,582)
525

The charity has been in existence as an unincorporated charity since April 2016. In December 2021 it changed its status to a Charitable Incorporated Organisation (CIO). At this date the fund of the unincorporated charity were £128,911 and were transferred into the CIO.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

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1

Detailed Statement of Financial Activities for the Year Ended 31 December 2023

Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
Period
13.12.2
Year Ended to
31.12.23 31.12.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 9,525 23,333
Grants 72,642 52,467
82,167 75,800
Other trading activities
Craft sales 13,725 18,585
Tea room sales 45,464 45,016
Member fees 302,425 251,131
361,614 314,732
Other income
Other income 1,451 2,575
Total incoming resources 445,232 393,107
EXPENDITURE
Other trading activities
Craft purchases 6,017 5,105
Tea room purchases 16,195 14,358
Wages 248,505 233,202
Social security 9,598 8,175
Pensions 3,875 3,422
Member costs 3,291 3,642
287,481 267,904
Support costs
Other
Wages 35,758 34,838
Social security 2,076 2,102
Rent 39,807 23,550
Rates and water 2,959 2,184
Heat and light 11,009 5,596
Telephone and internet costs 1,858 1,302
Carried forward 93,467 69,572

This page does not form part of the statutory financial statements

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1

Detailed Statement of Financial Activities for the Year Ended 31 December 2023

Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
Period
13.12.2
Year Ended to
31.12.23 31.12.22
£ £
Other
Brought forward 93,467 69,572
Postage and stationery 660 985
Insurance 7,001 4,591
Repairs and maintenance 6,982 11,805
Motor expenses 848 1,870
Travelling expenses 1,869 3,027
Computer and IT expenses 1,091 1,471
Equipment hire 346 -
Cleaning 5,298 4,361
Training costs 228 643
Refreshments 4,881 2,494
Bank charges and interest 2,833 1,612
Subscriptions 96 -
Accountancy 3,206 2,819
Legal and professional fees 534 759
Bad debts 2,069 2,320
Sundry expenses 2,921 2,754
Improvements to property 12,046 10,231
Plant and machinery 154 205
Fixtures and fittings 944 1,108
Motor vehicles 2,678 3,340
Computer equipment 1,660 830
Loss on sale of tangible fixed assets - (2,119)
151,812 124,678
Total resources expended 439,293 392,582
Net income 5,939 525

This page does not form part of the statutory financial statements

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