Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
**Charity number: 1202540**
## **NATIONAL BACK EXCHANGE**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31 MARCH 2024**
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 17|
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2024**
## **Trustees**
Mark Baines (appointed 17 September 2023) Joanne Barker (appointed 17 September 2023) Emma Collins (appointed 17 September 2023) Paul Davis (appointed 17 September 2023) Helen Naylor (appointed 17 September 2023) Mary Anne Muir (appointed 29 March 2023) Sarah Jane Thornton (appointed 29 March 2023) Julie Rachel Hoyles (appointed 29 March 2023) Anthony Denis Walker (appointed 29 March 2023) Valerie Cynthia Phillips (appointed 29 March 2023) Sharon May Rindsland (appointed 29 March 2023) Alison Roper (appointed 29 March 2023) Kerry Kemp (appointed 29 March 2023) Melanie Furness (appointed 29 March 2023)
## **Charity registered number**
1202540
## **Principal office**
Unit 14 The Stottie Shed Baker's Yard Christon Road Gosforth Newcastle upon Tyne NE3 1XD
## **Secretary**
Joanne Barker (appointed 17 September 2023)
## **Accountants**
Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
## **Bankers**
Lloyds Bank Plc 98 Victoria Street London SW1E 5JL
Page 1
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2024**
The Trustees present their annual report together with the financial statements of the Charity for the period 29 March 2023 to 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Objectives and activities**
## **Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The objectives of the National Back Exchange (NBE) are to preserve and protect good musculoskeletal health for the public benefit by providing such support as the Trustees deem appropriate for all people across the health, social care, educational systems and private industry who are concerned with the moving and handling of people and loads in order to protect their musculoskeletal health, in particular but not exclusively by promoting good practice in the moving and handling of people and loads.
## **Strategies for achieving objectives**
NBE’s strategies are comprehensive and multifaceted, designed to support its objectives of promoting safe, effective and efficient moving and handling practices, supporting its members, and advancing the use of evidence-based best practices. By focusing on member engagement, education, advocacy, ethical practices, and continuous improvement, NBE ensures that it remains a leading organization in its field, effectively contributing to the safety and well-being of professionals and the people they serve.
## **Activities undertaken to achieve objectives**
NBE is committed to advancing the field of moving and handling by promoting evidence-based practices and fostering knowledge exchange among professionals. Activities focus on supporting the professional community, promoting best practices, and enhancing the safety and well-being of practitioners, individuals, and the wider health and care system. Main activities undertaken by NBE to achieve these goals are:
- Supporting Membership and Local Communities of Practice
- Design and delivery of Annual Conference
- Design and delivery of Quarterly Digital Journal
- Design and delivery Quarterly NBE Newsletter
- Design and delivery Educational Webinars
- Development of Educational Publications
- Development of Advertising and Sponsorship Opportunities.
Page 2
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024**
## **Objectives and activities (continued)**
## **Main activities undertaken to further the Charity's purposes for the public benefit**
The National Back Exchange (NBE) furthers its charitable purposes for public benefit by promoting safe and effective moving and handling practices through education, research, and advocacy. Key activities include providing ongoing support and resources to members, hosting an annual conference to share evidence-based practices, publishing academic journals and newsletters, delivering educational webinars, and developing materials that enhance knowledge and skills in the health and care sectors. These efforts aim to improve safety, health, and well-being across all sectors within the health and care system and all individuals who require moving and handling assistance and support.
## **Achievements and performance**
## **Main achievements of the Charity**
The National Back Exchange (NBE) has made significant achievements, including increasing its membership base and enhancing member engagement through various initiatives. It successfully hosted a well-attended annual conference, further solidifying its reputation as a leader in safe moving and handling practices. NBE has also strengthened its financial position, ensuring sustainability for future endeavours. Additionally, NBE has built a skilled and diverse Board of Trustees, contributing to robust governance, and has developed a strong relationship with the Associations Management Team to enhance operational efficiency and strategic growth.
## **Review of activities**
NBE has effectively executed its activities over the past year, demonstrating significant progress and an upward trajectory in membership growth, member engagement, and financial stability. Moving forward, NBE is committed to further developing and enhancing its programs and initiatives to continue advancing safe moving and handling practices within the health and care sectors.
## **Financial review**
## **Financial overview**
This year NBE have transitioned from an unincorporated association to a registered national charity. Whilst doing so we have achieved a positive income over expenditure position.
This has been achieved by:
- An increase in profit from prior year from the annual conference
- Improved input VAT recovery
- Growth in membership and advertising revenues
- Overhead savings against budget.
The following new revenue steams were also introduced this year, contributing to further income growth:
- Webinar sponsorship
- Corporate membership
- Sponsorship income.
Page 3
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024**
Publication sales were 35% down against budget. The Board will manage strategies aimed to revitalise and increase sales, such as targeting marketing, targeting sales and applying required updates and edits with reprints where appropriate.
For 24/25 NBE will:
- Aim to stabilise and maintain this position in terms of revenue and costs
- Continue to create and cement the charity and governance structure by way of policies and processes
- Deliver on charitable aims and commitments to members, corporate members, sponsors and all charity stakeholders for public benefit.
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
NBE must retain a capital reserve on deposit of 12 months operating funds (£80,000). Authorisation to change this threshold and utilise reserves must have the approval of the Board of Charity Trustees. The current account balance should not fall below £15,000. A running cashflow management working document will be maintained and submitted monthly to the Finance Director to manage this. In addition, the current account will not be in credit to the detriment of return on capital.
## **Structure, governance and management**
## **Constitution**
National Back Exchange (NBE) is a Charitable Incorporated Organisation (CIO) registered in England and Wales with the Charity Commission on 29 March 2023 with registration number 1202540. Its governing document is its constitution, adopted on 29 March 2023.
## **Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Organisational structure and decision-making policies**
NBE is governed by a skilled and diverse Board of Trustees responsible for strategic decision-making and overall direction. NBE operates with a clear structure that includes directorates and working groups to address specific areas of focus. Decision-making policies are designed to be transparent and inclusive, ensuring input from members and stakeholders to guide the charity’s activities and objectives effectively.
Page 4
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024**
## **Structure, governance and management (continued)**
## **Financial risk management**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Plans for future periods**
NBE plans to continue expanding its educational programs, increasing member engagement, and developing partnerships within the health and care sectors. Future initiatives will focus on developing new resources, enhancing the annual conference, and leveraging digital platforms to reach a wider audience. NBE is also committed to strengthening its financial position and governance to ensure long-term sustainability and impact.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 5 September 2024 and signed on their behalf by:
## **Sarah Jane Thornton**
Page 5
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MARCH 2024**
## **Independent Examiner's Report to the Trustees of National Back Exchange ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 March 2024.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 13 September 2024 Detlev Anderson FCA
## **Kinnair Associates Limited**
Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
Page 6
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**92,570**
**79,514**
**1,046**
**116**
**173,246**
**79,037**
**79,037**
**94,209**
**94,209**
**94,209**|**Total**
**funds**
**2024**
**£**
**92,570**
**79,514**
**1,046**
**116**|
|---|---|---|
|||**173,246**|
|||**79,037**|
|||**79,037**|
|||**94,209**|
|||**94,209**|
|||**94,209**|
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 9 to 17 form part of these financial statements.
Page 7
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Investments
11
**Current assets**
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one year
14
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
16
Unrestricted funds
16
**Total funds**|**9,725**
**47,233**
**99,112**
**156,070**
**(61,862)**|**2024**
**£**
**1**|
|---|---|---|
|||**1**
**94,208**|
|||**94,209**|
|||**94,209**|
||||
|||**94,209**|
|||**-**
**94,209**|
||||
|||**94,209**|
The financial statements were approved and authorised for issue by the Trustees on 05 September 2024 and signed on their behalf by:
## **Sarah Jane Thornton**
The notes on pages 9 to 17 form part of these financial statements.
Page 8
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **1. General information**
National Back Exchange (NBE) is a charitable incorporated organisation, charity number 1202540. The registered office is Unit 14, The Stottie Shed, Baker's Yard, Christon Road, Newcastle upon Tyne, NE3 1XD.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
National Back Exchange 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.
These financial statements are in respect of the Charity only. The Charity is not required to prepare group accounts as the group headed by it is a small group.
The financial statements are presented in pounds Sterling and rounded to the nearest pound.
## **2.2 Going concern**
The charity has cash resources and no requirement for external funding. The Trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the annual financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Page 9
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.7 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
## **2.8 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.9 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.11 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 10
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.12 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from donations and legacies**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2024**|
||**£**|**£**|
|Donations|92,570|**92,570**|
The above donations represent net assets gifted from National Back Exchange (previous unincorporated charity).
## **4. Income from charitable activities**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2024**|
||**£**|**£**|
|Income from charitable activities|79,514|**79,514**|
## **. Income from charitable activities**
|Membership fees
Sales of publications
Advertising
Sponsorship|**2024**
**£**
**59,500**
**11,435**
**5,704**
**2,875**|
|---|---|
||**79,514**|
Page 11
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **5. Investment income**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2024**|
||**£**|**£**|
|Bank interest received|1,046|**1,046**|
## **6. Other incoming resources**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2024**|
||**£**|**£**|
|Other income|116|**116**|
## **7. Analysis of expenditure on charitable activities Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£**
Direct costs - Activities
79,037
**Analysis of expenditure by activities**
**Activities**
**undertaken**
**directly**
**2024**
**Support**
**costs**
**2024**
**£**
**£**
Direct costs - Activities
37,912
41,125|**Total**
**2024**
**£**
**79,037**|
|---|---|
||**Total**
**funds**
**2024**
**£**
**79,037**|
## **8. Analysis of expenditure by activities**
Page 12
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Cost of publications
Production of column digital
Membership website operation costs
Occupational Therapy Show
Other direct costs|**Activities**
**2024**
**£**
4,019
25,053
2,989
3,977
1,874
37,912|**Total**
**funds**
**2024**
**£**
**4,019**
**25,053**
**2,989**
**3,977**
**1,874**|
|---|---|---|
|||**37,912**|
## **Analysis of support costs**
|Back office support fees
IT costs
Subscriptions
Insurance
Bank charges
Board meeting costs
Disallowed VAT
Bad debts
Postage and carriage
Governance costs
Intercompany recharges|**Activities**
**2024**
**£**
47,410
1,147
1,127
564
2,460
1,778
7,569
206
24
2,545
(23,705)
41,125|**Total**
**funds**
**2024**
**£**
**47,410**
**1,147**
**1,127**
**564**
**2,460**
**1,778**
**7,569**
**206**
**24**
**2,545**
**(23,705)**|
|---|---|---|
|||**41,125**|
Governance costs above comprise fees payable to the charity's independent examiner for the preparation and independent examination of the charity's annual accounts
Page 13
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **9. Independent examiner's remuneration**
||**2024**|
|---|---|
||**£**|
|Fees payable to the Charity's independent examiner for the preparation and independent||
|examination of the Charity's annual accounts|**2,500**|
## **10. Trustees' remuneration and expenses**
During the period, no Trustees received any remuneration or other benefits.
During the period ended 31 March 2024, expenses totalling _£_ 1,325 were reimbursed or paid directly to 3 Trustees. These related to travel and board meeting expenses.
## **11. Fixed asset investments**
|**Cost or valuation**
Additions
At 31 March 2024
**Net book value**
At 31 March 2024
**12.**
**Stocks**
Stocks of publications|**Investments**
**in**
**subsidiary**
**companies**
**£**
**1**|
|---|---|
||**1**|
||**1**|
||**2024**
**£**
**9,725**|
Page 14
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **13. Debtors**
|**Due within one year**
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**2024**
**£**
**26,057**
**16,300**
**4,876**|
|---|---|
|||
||**47,233**|
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
**7,132**
**3,065**
**51,665**|
|---|---|
|||
||**61,862**|
## **15. Financial instruments**
||**2024**|
|---|---|
||**£**|
|**Financial assets**||
|Financial assets measured at fair value through income and expenditure|**99,112**|
Financial assets measured at fair value through income and expenditure comprise bank balances.
Page 15
Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **16. Statement of funds**
**Statement of funds - current period**
|**Unrestricted funds**
General Funds
**17.**
**Summary of funds**
**Summary of funds - current period**
General funds
**18.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Income**
**£**
**Expenditure**
**£**
**173,246**
**(79,037)**
**Income**
**£**
**Expenditure**
**£**
**173,246**
**(79,037)**
**Unrestricted**
**funds**
**2024**
**£**
1
156,070
(61,862)
94,209|**Balance at**
**31 March**
**2024**
**£**
**94,209**
**Balance at**
**31 March**
**2024**
**£**
**94,209**
**Total**
**funds**
**2024**
**£**
**1**
**156,070**
**(61,862)**
**94,209**|
|---|---|---|
## **19. Related party transactions**
During the year intercompany recharges of £23,705 were received from NBE Trading Limited, a wholly owned subsidiary National Back Exchange. An amount of £26,057 was owed by NBE Trading Limited at the year end.
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Docusign Envelope ID: 6310B4CA-22B8-4FC7-8A07-FF376292539A
## **NATIONAL BACK EXCHANGE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024**
## **20. Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
**Name Company Registered office or principal Principal activity number place of business** NBE Trading Limited 14776983 Unit 14 The Stottie Shed, To organise and run Baker's Yard, Christon Road, the National Back Gosforth, Newcastle upon Tyne, Exchange’s annual NE3 1XD. conference. **Class of Holding Included in shares consolidation** Ordinary 100% Yes
The financial results of the subsidiary for the period were:
|**Name**|**Income**|**Expenditure**|**Profit for**|**Net assets**|
|---|---|---|---|---|
||**£**|**£**|**the period**|**£**|
||||**£**||
|NBE Trading Limited|**315,669**|**286,090**|**29,579**|**29,580**|
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