Charlty Registratlon No. 1202165 Company Re81stratn No. 04)6784 IEn8land and Wales) JASMIN VARDIMON COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BUSINESS ADVISORS & ACCOU14T&NT5 One Bell Lane Lewe5 East SLsssex BN7 UU
JASMIN VAROIMON COMPANY LIMITED CONTENTS Company information Tru5tees' report Independent examiner's report Statement of financial activities Balance sheet Statement of cash flows io Notes to the financial statements 11-21
JASMIN VARDIMON COMPANY LIMITED COMPANY INFORMAnoN Trustses Dr F Kerrigan Ms H l Hackett Mr N I Catliff Ms S R Leighton Mr G BarAmotz Ms J Vardimon Dr L Worth Mrpcorr" Charlty number 1202165 Company number 04306784 PrI1PaI address JV H.O.M.E Creative Entèrprise Quèrter javèlin Wav Ashfr)rd Kent TN248FN Re8iStered offke One Bell Lane Lewes East Sussex 8N7 IJU Independent examlner TC Group One Bell Lane Lewes East Sussex BN7 IJU
JASMIN VARDIMON COMPANY LIMITEO TRUSTEES, REPORT IINCLUDING DIREcfoRS' REPORTI FOR THE YEAR EP4DED 31 MARCH 2024 The trustees pent their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and Comply wth the charity's governing document, the Companie5 Act 2(X)6 and "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 Republtc of Ireland IFRS 1021. lefective l January 20191. Objertlves and activities The principal activity of the company continues to be that of a dance company dedicated to advancing education for the public benefit by the promotion of the èrts. in particular but not exclusively the art of dance.. through provision of perform3nces,' workshops,. classe5,' seminars and lectures.. with Specific, but not exclusive reference to the work oflasmin Vardimon MBE. We nurture talent in children, young people. community. teathers and arts profe55ionals. through a full and varied programme of workshops and training pro8ramme5 in our unique facility, which predominantly involve pract¢cal experience of dance. Pi5ates and physical theatre. and enrich the lives of members of the community of all a8e5. We benefit the public by.. supporting physical and mental wellbeing,. developing emotional literacy with young people u5in8 dance as a means to explore and articulate their life experieFkce,' offering OPPOrtunitie5 for young people to develop skills and explore career pathways., providtng bursary offers for graduate dance training and skills programmes including choreography, design and technical skills as well as dance., providing symposia and talks for industry pro%essiona15 and member5 of the public keen to expand their knowledge and understanding of dance method and philosophv. We provide engagement wilh the arts to the public by touring nationally within the UK. and internationalSy. Our training prografflmes facilitate the exchange of ski115 and talent on a European and international Scale in the pursuit of advancin8 education for the public benefit by the promotion of the arts. JVC programmes are offered in- house. as well as outreach. ènd aim to develop participants. skills, access. and understanding about the arts and to stspport our role as advisors 3nd advocates lor arts arbd culture. regionally. nationally and internalionally. The orgènisation brings high quality Britlsh dance theatre to international audiences, dis5eminale5 information and good practice and is committed to sharing. learning and practic*ng through working with organisalions such as the British Council. Our community artivit4e5 Stand alone as well a5 cornpliment the live performaTrce5 created by Choreographer and Artistic Director lasmin Vardimon. ARTISTIC.. create ambitious new work and reach new audiences regionally, nationally and international seek wider opportunitie5 to showcase the company's performances and activities CREATIVE LEARNING.. engage with people in the community through education. learning and participation continue to facilitate and expand the JV2 programme offer bur53ries for professional dance training to attrart talented individua15. Othels unablè to participate due to financial hardship engage with educational InstitlOn5 offering a programme of workshops ènd vi51ts. to Inspire and raise a5pir3tions ol teachers and students from diverse backgrounds provide exceptional support in assisting the young people of Kent, through regular work experience placements and internships
JASMIN VARDIMON COMPANY LIMITED TRUSTEES, REPORT {INCWDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2024 JV HOME.. • contrnue to promote the hire of the studios and spaces in IV HOME advertise the café more widely. expanding the menu and catering offers offer world class contemporary dance theatre performances for local communitles, the public and schools In a culturnlly deprivèd area FINANCIAL.. seek increased funding to support bullding running costs find ways for the company to be more agile and robust look at funding opptsrtunitie5 Wlth collaborative partners for community projects Public benefit The trtastees conftmi that they have referred to the 8uidance contarned in the CharSty Commission's general guidance on public benefit when reviewing the charttsble cornpany's aims and objectives. Achievements and performance 2023-2024 tsias the first full financial year in OUT new building (IV HOME) and the fIt year in which the two companies, Jasmin Vardimon Dance Company, and Jasmin Vardimon Education Company. were merged and Jasmin Vardimon Company Ltd was regisiered a5 a charity. It was a busy year, learnln8 and understanding how a new building worked and establishing new contacts and business relationships. Our Café is open to the publit from 09.(XI- 15.30 weekdays and from 09.00 - 13.(X) on Saturdays during teym time. We are able to hire our three studio spa¢es when the company is not using them. Studio 3 is hired to external organi5ations for staff and board meetir¢gs and away days, with accompanying catering and refreshments. Wè have establlshed Youth classes on a Thursday afternoon and Satunlay wnomings and host a full time Pilates instructor who has hired a room for her clients. This not only aliEn5 Wlth the work JVC does, but also brings regular visitors into the building and cafe. The JV2 programme has been increased to two cohorts a year,. each six months in length. This programme continLses to develop versatile and multidisciplinary performers. Some of these dancers go onto to dance. choreograph and teach for JVC. We contir*ue our Work with our slx associate schools which has help embed us into the life of local Ashford Communities. The building allows us to be able to offer access to rehearsals, workshops and performance5 which support their currtculum activity. JVC successfully perfonned ALICE lèadlng up to Christmas 2023 In Studio l. enabling us to invite the community into our new building. The company toured ALICE nationalty after Christma5 before Jasmin startlng R&D for her new creation which celebrates the 25th anniversary of the company in 202412025.
JASMIN VAROIMON COMPANY UMrrED TRUSTEES, REPORT IINCLUDING OIRECTOKS. REPORT) (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Finan£ial review In light of the comments above, the financi31 Tesult5 reflert some of the challenges faced. However. total income held up well with the actual result5 just £9K below the forecast. Grants income, Trvst & Foundation income. Education income and the income from the café and bu41ding activity held up well and in line with our forecast. Touring income was lower due to reduced activitv. Overall, expenditure was £28K above forecast. The largest area of overspend was due to overhead costs Fn respect of JVHome, where increased off ice, building and energy costs exceeded forec35t. Thi5 overspend w35 offset by reduced personnel costs providing a £30K positive var43nce against forecast as a resvlt of reduced production and touring activity. as well as reduced management and pe¥50nnel costs. The UnStrICted funds balance at year end declined to £103K. due to the reported deficit. However, a claim for Theatre Tax Relbef, once made, should increase the funt1s balance in the region of £50K to £70K. The funds balance remains adequate to support our shortlmedium term requirements. The planned actTrvity going forward 15 to.. ncrea5e education acttv*ty increase L¢se of the building by hiring out facilitie5 to other organisations focus on inc¥easin8 trust & foundation donations mole touring activitv The future remains challenging with fundin& espectally from the Arts Council and local authority sources. The company is very mindful of thi5 and 15 managing the tiusiness to trthtically look at revenue 5tream5 and focu5 on expenditure. We have forecasted a deficit of £30K for the financial year to 31 March 2025, which is realistic. This will St1& leave the company in a financially soijnd posltion. Reserves policy It is the policy ()f the charity that unrestricted funds which have not been designated for è specific us@ should be maintained at a level equivalent to between three and six months, expenditure. The trustees consider that reserves at this level will ensure that. in the event ot a significant drop in funding, they will be able to continue the charity's current attivitie5 while con5ideratgon is given to ways in which additional fund5 Tnay be raised. This level of reseNes has been maintained throughout the year. Strurture, governance and management The charity is a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association. Its 8overning body controls the management of the charity and consists of the elected trustees. The trustees, who are also the director5 for the purpose of company law. and who se¥ved during the year and up to the date of signature of the financial statements were.. Dr F Kerrigan Ms H J Hackett Mr N I Catliff Ms 5 R Leighton Mr G Bar Amotz Ms J Vardimon Dr L Worth Mr P Corr
JASMIN VARDIMON COMPANY UMITEO TRUSTEES, REPORT IINCLIJDING DIREcfoRS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCN2024 The trustees. report was approved by the Board of Trustees. Mr N I Catliff Ms S R Leight Date..
JASMIN VARDIMON COMPANY UMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JASMIN VARDIMON COMPANY IIMITED I report to the trustees on my examination of the financial statements of lasmin Vardimon Company Limited (the charityl for the year ended 31 March 2024. Responsibilities and basis of report the trustees of the charity land also its directors for the purpose5 of company lawl you are responstble for the preparation of the financial statements in accordance w¥th the quIreMentS of the Companies Act 2006 Ithe 2006 Actl- Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are elFgible for independent examinatron, I report in respe£l of my examination of the charity's finèncial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable D1CtIOnS given by the Charity Commi55ion under section 14515llbl of the 2011 Act. Independent examinees statement I have completed my ex3mination. I confirm that no matters have come to my attention in connettion with the examination giving me cause to believe that in any material respect.. accounting CordS weie not kept in respect of the charity as required by section 386 of the 2006 Att.. or Ihe financial statements do not accord with those records., or the financial statement5 do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement ihat the accounts @ive a true and fair view which is not a matter considered as part of an independent examination,. or the financial st3tement5 have nDt been prepared in accordance with the methods and principles of the Statement of Recommended PTactice for accounting and reporting by charities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 and have come across no other matters in connertion with the examination to which attention should be drawll in this report In order to enable 3 proper understanding of the ftnancial Statements to be reached. D Wmqrtin FCA on beholf of TC Group One Bell Lane Lewe5 East Sussex BN7 IJU
JASMIN VARDIMON COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCWDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EP4DED 31 MARCH 2024 Unre5trirted funds 2024 Unre5trirtèd funds 2023 Notes Income from: Donations and legacies Charitable activities Investments 460,975 529.822 2,574 590,183 410,129 906 Total Income 993,371 1,001,218 Empenditure on: Charitable activities 1.062,690 969,475 Total expenditure 1,062,690 969,475 Net incomellempenditurel and movement in funds 169,3191 31,743 Xeconcillafjon of futyls: Fund balance5 at l April 2023 172,051 140,308 Fund balances at 31 March 2024 102.732 172.051
JASMIN VARDIMON COMPANY LIMITED BALANCE SHE ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets li 333.667 357,363 Current assets Debtors Cash at bank and in hand 12 90,915 50.510 23.524 252,353 141.425 275,877 Creditor5'. amout7ts fallinE due withln one year 14 170,6751 1129.5551 Net current assets 70,750 146.322 Totsl assets less turrent liabllitles 404.417 503,685 Creditors: amounts fallinB due after more than one year 15 1301,6851 1331,6341 Net assets 102,732 172,051 The funds of the charity Unrestricted fndS 18 102.732 172,051 102,732 172,051
JASMIN VARDIMON COMPANY LIMITED BALANCE SHE {CONTINUEDI ASAT31 MARCH2024 The comparry is entitled to the eyemption from the audit requirement contalned in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The trustees aCknOedge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a trLTre and fair view of the stste of affairs of the company as at the end of the financial year and of its incoming iesourtes and applitation of sources. includin8 Its income and expenditure, ft)r the financial year in accordance with the requirement5 of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2CQ6 relating to financial stateEnents, so far as applicable to the company. Thè mèmbèrs have not required the company to obtain an audit of its financial ststements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companses regime. The finan¢lal statements were approved by the trustees on ...&.p. /101..L Mr N I Catliff MsSRLeig Company registration number 04306784 (England and Wales)
JASMIN VARDIMON COMPANY UMITED STATEMENT OF CASH FLOW5 FOR THE YEAR EI4DE0 31 MARCH 2024 2024 2023 Notes Cash flows from opernting activities Cash lab50rbed byllgenerated from operations 20 1188,8901 95,731 In¥esting artivities Purchase of tangible fixed assets Investment income received 15.5891 2.574 158.6361 906 Net tash used in investing aclivities 13,0151 157,7301 FinanclnE activities Repayment of bank loans 19,9381 19.6941 Net cash used in financFn8 3rtivities 19,9381 19,694) Net Idecreasèllincrease In cash ar cash equivalents 1201,8431 28,307 Cash and cash equivalent$ Bt beginning of year 252,353 224.046 Cash and fash equivalents at end of year 50.510 252.353 10-
JASMIN VARDIMON COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THF YEAR EPIDED 31 MAIKH2024 Accountln8 pollcles Charity information Jasmln Vardimon Company Limited wa5 a private company limited by guarantee incorporated in England and Wales. Jasmin Vardimon Company Limited has become an incorporated charity, limited by guarantee from I April 2023. The registered office is One Bell Lane, Lewes, East Sy5sex, BN7 IJU. 1.1 Accountlng convention The financTral statements have been prepared in accordance with the charity's governin8 document, the Companie5 Act 2(K16, FRS 102 -The Financial Reporting Standard applicable In the UK and Republic of Ireland~ l~FRS 102.1 and the Charities SORP "AccourÈtin8 and Reportbng by Charit4es'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the LIK and Republic of Ireland IFRS 1021" (effective l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterlin8. which is the functional currency of the char¢ty. Monetary amounts in these financial statements are rounded to the nearest E. The financial statements have been prepared under the historical c05t convention. The principal accourtrting policies adopted are set out below. 1.2 Golng ¢onw At the time of approving the financlal statements, the trustees have a reasonable expectatlon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charttable funds Unrestricted fund5 are available for use at the discretion of the twstees in furtherance of their charitable objectives. 1.4 Incomt Income Is rècogni5ed when the charity ts legally entttled to it after any performance cond¥tions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are re¢ognised on receipt. other donations are recognised once the charlty has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distriblttion, the amount is known, and receipt is expected. If the amount is not known. the le8acy is treated as a contingent asset.
JASMIN VARDIMON COMPANY LIMtrED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Icontinued) 1.5 Expèndsture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party. it is probable that B transfer of economic benefits will be required in settlement, and the amount of the obltgation can be measured relsably. Expenditure is classified by activity. The costs ol each ?ctivsty are made up of ihe total of d1ct Costs and shared costs, including support costs involved in undertaking each activity. Direct cost5 attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activtty and support cost5 which are not attributable to B s¥ngle activtty are apportioned between those activities on a basis consistent wFth the use of resources. Ceftlral staff costs are allocated on the ba515 of time spent. and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed a55ets Tangible limed assets are initially measured at cost and subsequently measured at C05t or valuation, net ol depreciation 3nd any impairment105ses. Depreciation is recognised so as to write off the cost or valuatÈon of assets les5 their residual values over their useful lives on the following bases.. Leasehold improvements Fixtures and fittings Computers 5% straight line 25QA reducing balance 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impaimient olfixed assets At each reporting end date. the charity Teviews the cèrrytng amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the emtent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalent5 include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three moF)ths or les5. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 12-
JASMIN VAROIMON COMPANY UMITED NOTES TO THE FINANCIALSTAYEMENTS ICOTrmNUEDI FOR THE YEAR ENDED31 MARCH2024 Accountlng pollcles (Continuedl 1.9 Flnandal Instruments The charity has elected to apply the provisions of Sectton 11 'Basic Flnancial Instruments, and Section 12 'Other Finan£ial Instruments lssue5' of FRS 102 to all of its financial instruments. Financial instruments are recoBnised in the charity's balance shèet when thè ch3rity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable rtrBht to set off the recognised amounts and there is an intention to sèttle on a net basis or to realise the asset and settle the liability simultaneouslv. askfinaftciul assets Basic finant131 assets, which inclvde debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subseqLsently carried at amortised cost using the effective interest method unless the arrangement constitutes a finaricing trènsartion, where the tran5a£tion is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8aslcfinanclalliobllltles Basic financial liabilities, including creditors and bank loans are initially CogniSed at transaction price unless the arran8ement constitutes a financin8 transaction, where the debt Trnstrument is measured at the present value of the future payments d*scounted at a market rate of interest. Financial liabilities cla55ified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade credstors are obl1110n$ to pay for goods or services that have been acquired in the ordinary course of operation5 from suppliers. Amounts payable are classified as current liabilities if payment is due within one vear or less. If not, they are presented as non-current liabilities. Trade treditofs are recognised initially at transactlon price and subsequently measured at amortlsed c05t Usin8 the effective interest method. Derecoqnition offinonciol liubilities Flnancial IlabS1ities are dÈreco8nised when the ¢haritVs contractual obllgations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediatèly as Jn expense when the charity 15 demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Rètirement benefits Payments to defined ¢ontrlbution retlrement benefit schemes are charged as an expense as they fall due. 13-
JASM114 VARDIMON COMPANY LIMITED NOTES TO TrIE FINANCIAL STATEMENTS ICONYINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Income from donat10Tr5 and legacies Unrertrlrtèd funds 2024 Unrestricted funds 2023 Grants 460,975 590,183 In¢ome from charitable artivities Unrestricted funds 2024 Unrestr4tted funds 2023 Charitable Income Sale ol 8ood5 Services provided under contract Sales ol services by beneficiarie5 Performance related grants Ancillary trading sncome Charitable rental income 106,551 19,707 62,945 248,405 304,519 13.075 16,210 82,047 15,7221 92,214 529,822 410.129 Income from investments Unrestricted Unre5trirted funds funds 2024 2023 Interest receivable 2.574 9¢ 14-
JASMIN VARDIMON COMPANY IIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED31 MARCH2024 Expendlture on charltable actlvftles Charitsble Charitsble expendlttlre expendlture 2024 2023 Dlrect costs Staff costs Depreciation and impairment Enter ac905 in database Enter ac907 in database Enter a¢908 in database 428,344 29,284 237.846 30,282 81,927 187,231 31,351 483,969 15,029 807,683 717,580 Share ol support and governance ¢¢sts (see note 6) Support Governance 206,142 48.865 133,547 118.348 1,062,690 969,475 Anatysls by tund Unrestricted funds 1,062,690 969,475 15
JASMIN VARDIMON COMPANY UMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR ThE YEAR ENDED31 MARCH 2024 Support costs allocated to activities 2024 2023 Rent 13,310 63,780 43,462 30.179 9,158 4.041 10,083 10.926 20.665 538 48,865 9,941 6,526 22.594 27,816 12,017 2,654 Rates Repairs and rnaintenance Computer expenses Travel Bank charges Irrecoverable VAT Insurance Advertising Sundry Governance costs 10,714 26,158 15.127 118,348 255.007 251,895 Analysed between: Charitable expenditure 255,007 251.895 2024 2023 Governan costs comprise: Accountanry Legal and professional 35,857 13.008 13.069 105,279 48.865 118,348 Governance costs includes payments to the independent examiner of £2.50012023 £1.515- Accounts feel Net movement in funds 2024 2023 The net movemenl in funds is stated after charging/lcreditingl'. Depreciation ol owned tangible fixed assets 29,284 31.351 TrLSStees Two of the trustees ceiVed remunerBlion during the year totalling £66,51612023 £40,Ocl During the yeHr, no trustees were reimbursed for expenses inturred on behalf of the charity. 16-
JASMIN VARDIMON COMPANY LIMITED NOTES TO THE FINANCIAL sfATEMENYS ICONTINUEDI FOR THE YE4R ENDED 31 MARCH2024 Employees The average monthly number of employees during the year was- 2024 Number 2023 Numbèr 17 li Employment wsts 2024 2023 Wages and salaries Other pension costs 422.095 6,249 182,918 4,313 428,344 187,231 The number of employees whose annual remuneration was more than £60,000 is as follows.. 2024 Number 2023 Number 60,001 to 70,000 Remuneration of key management personnel The remuneration of key management persctnrlel was a5 follows.. 2024 2023 Aggregate compensation 133,516 40,ThJO 10 Taxation The charity is exempt from taxatlon on its act¢vities because all its income 15 applied for charitsble purposes. The charity has claimed theatre tax relief IRI for eli8ible production5. Thè reliel has been calculated based on qualifying expenditure and is recognised as income in the Statement of Financial Position1SOFPI. The total amount clalmed In the year is £75.485. relating to the two pVIouS financial year5. Due to the entity's transition to an incorporated charity during the financial year, the deferred tax liability rècognlsed In the previous flnanclal year has been reversed. The total amount of deferred tax reversed was £5,432. which has been recognised as intome in the SOFP. 17-
JASMIN VARDIMON COMPANY LIMITED NOTESTO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR niE YEAR EP4DED 31 MARCH2024 11 Tangible fixed assets Lea5ehokl Impro¥ements Xir¢Sand rittln85 Compu* Total At l April 2023 Additions 349,885 77,530 2,524 70,712 3.065 498.127 5.589 At 31 March 2024 349.885 80.054 73.777 503,716 Depreciation and impairment At l April 2023 Depreciation charged in the year 34.077 17.496 61.554 4.628 45,134 7,160 140,765 29,284 At 31 March 2024 51,573 66,182 52.294 170.049 Carrying arnount At 31 March 2024 298.312 13,872 21,483 333,667 Al 31 March 2023 315.809 15.976 25.578 357.363 12 Debtors 2024 2023 Amounts falling duè wlthin one year: Trade debtors Corporation tax recoverable Other debtors Prepayments and accrued income 3,457 75,485 11,323 650 500 23,024 90.915 23,524 13 Loan5 and overdrafts 2024 2023 Bank loan5 23,268 33,206 Payable within one year Payèble after one year 10.183 13,085 9,932 23,274 18-
JASMIN VARDIMON COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YE4R ENDED 31 MARCH2024 14 Credltors.. amourts falling due within one year 2024 2023 Notes Bank loans Corporation tax payable Other taxatlon and social 5e¢urity Government grants Trade creditors oiher creditor5 Ac¢ruals and deferred income 10,183 9.932 9,133 3.883 20.522 19,048 61,159 5,878 8.581 19,760 21,468 3,811 6,872 16 70,675 129,555 15 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loan5 Government grants iy 16 13.085 288.600 23,274 308,360 301.685 331,634 16 Government grants Deferred income is inclLsded in the financial statements as follows: 2024 2023 Deferred income is induded within.. Current liabilities Non-current liabilities 19,760 288,600 20,522 31)8,360 308.360 328,882 Movements In the year.. Deferred income èt l April 2023 Released from previous periods Resources deferred in the year 328,882 120,5221 296,567 121,5391 53.854 Dèferred income at 31 March 2024 308,360 328,882 19
JASMIN VARDIMON COMPANY LIMITED NOTES TO THE FINANCIALgTATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in SpeCt of defined contributlon Schemes 6.249 4.313 The charity operates a defined contribut¥on pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the chartty in an independently administered fur>d. 18 Unrestritted funds The unrestricted funds of the charity comprise the unexpended balances of donatiofis and Èrants wh¥ch are not subject to specific condition5 by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l Aprll 2023 Incomlng resources Resources At 31 Maich expended 20Z4 General funds 172,051 993,371 11,062,690) 102,732 Previous year.. At l April 2022 Incoming resources Resources At 31 Marth expended 2023 General funds 140.308 I.IXJl,218 1969,4751 172.051 19 Related party transactions Therè were no disclosable related party iransactions during the year12023- none). -20-
JASMIN VARDIMON COMPANY UMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR TATE YEAR ENDED 31 MARCH 2024 20 Cash generated from operations 2024 2023 (Dèficitllsurpus for the year 169,3191 31,743 Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed asset5 12.5741 29,284 19061 31,351 Movements In working capital- Ilncreasel/detrease in debtors IDecreasel in creditOf5 IDecreasellincrease in deferred income 167,3911 158,3681 120.5221 558,959 1557,7311 32,315 Cash labsorbed by)/generated from operations 1188.8901 95,731 21 Analws of chan$ in net fund5 At i Atrf 2023 Cashlltr•Js M Itrth1o%4 Cash at bank and in hand 252,353 1201,8431 50.510 Loans falling due within one year Loans falling due after more than ot)e year 19,9321 123,2741 12511 10,189 110,1831 113,0851 219,147 1191.9051 27.242 21