Charity registration number: 1204824 co Oirryiii Encore Enterprises CIO Annual Report and Financial Statements for the Year Ended 31 August 2025 Young & Co Business Advisors & Chartered Accountants st Elhdbert House, Ryeknds SlreeL Hereford, HR4 OL4 T. 01432 263282 enquim8@young8md.co.uk w4sw.youngand.co.uk
Encore Enterprlses CIO Contents (continued} Reference and Administrative Details Trustees, Report 2to13 Statement of Trustees, Responsibilities 14 Independent Examiner's Report 15to16 Statement of Financial Activities 17to18 Balance Sheet 19 Notes to the Financial Statements 20to31
Encore Enterprlses CIO Reference and Administrative Details Trustees Mr J T Godfrey Mr R A Glasspoole Mrc N H Attwood Mr P Chapman Ms S Thackwray Senior Management l Leadership Mr C P Woollard, Chief Executive Officer Team Charlty Reglstratlon Number 1204824 Principal Office Lugwardine Court Lugwardine Court Orchard Lugwardine Herefordshire HR14AE Independent Examiner Graham M John Bsc FCA Independent Examiner Young & Co (Hereford) Limited St Ethelbert House Ryelands Street Hereford HR40LA Page I
Encore Enterprlses CIO Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2025. Objertives and activities Objects ond aims Encore's Aims and Objectives are set out in its Articles of Association. These are.. to advance education particularly (but not exclusively) in relation to music and the arts; to advance the arts and culture, particularly (but not exclusively), by promoting, facilitating and improving access to cultural services, performances of music, participation in musical activities and community music events and providing access to instruments and other means of performance and stLJdy for such purposes,. to provide or assist in the provision of facilitie5 in the interest5 of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. Note that the charity does not award grants, nor does it make any social investments for any other charities Public benefit The Trustees of Encore have been sent the Charity Commission Public Benefit guidance. They are asked to raise any concerns at the AGM lor indeed any General Meeting) if they feel any activities have not been for the benefit of the public. None were raised during this reporting period. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2
Encore Enterprlses CIO Trustees, Report Icontinuedl Achlevements and Performance EYFS IEarly years and foundation stage). Delivery of Preschool music and arts activities in nursery to children under 5. Running 'Sing, Move play, CPD training for EYFS settings including observational support sessions. Delivery of Services to Children and Young People in schools through individual and whole class instrumental music lessons. through to a range of singing for wellbeing activities and numerous workshops, projects and performances. Most linked to the newly merged Herefordshire & Worcestershire Music Education Hub. Support for schoolteachers and other professionals through a variety of networking meetings. CPD/training, quality assurance/observations etc. Broad range of music and wellbeing activities for children and young people out of School. Livewire Popular music drop-in sessions, tutored sessions, holiday courses. More traditional ensemble opportunities such as concert bands, orchestras and choirs. Opportunities for young people to work with professional musicians and gain wider industry experience Music and wellbeing activities for adults such as the Garrick Singers lover 55'sL Military Veterans, Choir, music sessions for those with mental health needs in supported accommodation, Singing for Lung Health, singing for families of those in the local hospice etc. Including a large celebration with many of these group5 in Hereford Cathedral in June 2025 Herefordshire Performing Arts Festival IHPA Festl. Week-long festival for speech, drama, music & dance. Supporting the training and development of those who work for the charity (either in an employed or self-employed position) e.g. subject specific training, safeguarding trainin& opportunities to meet and share ideas/support each other etc. Maintenance, repair and replenishment of a large store of musical instruments and other equipment to 5UPPOrt the running of the charity and to support other community music groups and individuals etc. Page 3
Encore Enterprlses CIO Trustees, Report Icontinuedl Encore Enterprlses CIO 20225 Area Data Accredlt•d T•achar Schem• En¢or• DeUv¢red WCET 1762 2024 Puplly Chlldren & Young P•opl• In School 5154pupl Oth•r PmJ•¢ts 130148. 440 pu En•or• Supported WCET ¢The A¢¢redlled T••Gh•r¥¥ lJv4• com¥ intoour s¢hool hw• boen ¢ompUm•nknd ty st•tL They do afantastic}ob and Iwoyld 928 PwM• Page 4
Encore Enterprlses CIO Trustees, Report Icontinuedl Ertc rft Enterprlses CIO 20225 Area Data Encore Youth Musl¢ 188PU Children & Young People Out of School 325 5976 ETrKa¢- Uvewlre wlth nry•blith•N EYN and brfrywir•hfldr•D and my ' husb•ndmd I Jo% Th•statt ar• wel¢omlngi rIaryd liiirluv1ni•• l n'tthakth• •noh{l¥¥erythlfyf tty. ¢kn¥ ." 137 Pupo Page 5
Encore Enterprlses CIO Trustees, Report Icontinuedl Encore Enterprises CIO 2024-25 Area Data HPA Fost MIUtary Vetrrnfi'scholr 3252 Pl# 40 P•opl0 JL Community Actlvlties 3373 GaTrf¢k Slngers W•llsprln 12pw 6821 Enr•yrnonts 29 Pwpl• Iwhat a fknuLou&w••Kt l am 80 unlxllevably proud ot sln0• who pBrftyrm¢d 4tlh• F•sll¥aL Th•yll deserved medal¥lor havlngthe GonflthnGeto perform." SehoolT•¥hr&p¥pKwho tsokpKtWIOIAF•¢ Other Projeets 40 P•opl• Page 6
Encore Enterprlses CIO Trustees, Report Icontinuedl Encore Enterprlses CIO 202&25 Area Data Internal CPD 100 P••p CPD 479 646 CPD to Schools, Coli•g• & Nurserle• . f ¥.1 h•n•o Inplr•dto •mh•dlh• It¥1 •onp •nd mu•l• ni lrtl• my vwn+A•••r••m•nd h•Y1•n dollthtrd by A •¥4gedlh• ¢hlldren bowm•. Wsba•n fant••ll¢ to 379 P•opl• 4r Page 7
Encore Enterprlses CIO Trustees, Report Icontinuedl Encore Enterprises CIO 2024-25 Summary Data CPD Chlldren & Young People In S¢hool 479 thdu1• s154pu 130148 Efieatements 9331 Indmduais 143591 Eng¥ements Communlty Activitles Children & Young People Out of School 3373 ithdMdu• 325 Puplls 6821 Enypm•ni¥ 5976 Enga•1* Page 8
Encore Enterprlses CIO Trustees, Report Icontinuedl Encore Enterprises CIO 2024-25 Full Data 20 17•2 47¥ 51J4 Pupl 130141 En8•8•mqnts 9331 Indlvidu•l¥ 143591 HPAF•Dt 32S 5976 6•21 137 Page 9
Encore Enterprlses CIO Trustees, Report Icontinuedl Financial review This is the second year that Encore has operated as a charity, having previously been a Community Interest Company. Income for the year was £504,236. This is lower than the last period with total income lexcluding the one-off grant from Hereford Arts in Action Ltd of £355,909) of £569,458. There was a large deficit sustained this year of £114.538. this is substantially different from 2024 which achieved a £359,725 surplus (albeit this included the one-off grant of £355,9091- At the year end. the free funds available as cash in the general fund was £119,247 compared to £194,275 in 2024. The trustees believe that the financial position at the year end was satisfartory. Policy on reserves The Trustees continue to review the charity's reserves to ensure sufficient cash is available to fund the charitable activities for a period of at least three months. A target of an additional £150.0(X) is also maintained in cash as a contingency should the charity ever have to cease operations. Funds In deficlt There were no funds in deficit at the period end. Principolfundinq source5 As well as fees paid by service users. the charity's main funder for its day-to-day activities remains Arts Council England. The Trustees are also very grateful to the many other charities and individual supporters who have made generous grants and donations. Investmentpolicy ondobjertives The charity uses an interest-bearing deposit account to hold cash that is not immediately required for expenditure. Page 10
Encore Enterprlses CIO Trustees, Report Icontinuedl Trustees and officers The trustees and officers serving during the year and since the year end were 35 follows: Trustees.. Mr J T Godfrey Mr R A Glasspoole Mrc N H Attwood Mr P Chapman lappointed 11 April 20251 M5 S Thackwray (appointed 11 April 20251 Senior Management / Leadership Mr C P Woollard, Chief Executive Officer Team: Structurei governance and management Nuture ofgovernlng dtxument Encore Enterprises CIO (Charitable Incorporated Organisationl was established in September 2023 having converted to charitable statu5 from the former Encore Enterprises CIC (now closed). Its Constitution was designed by Bateswells of London who are a highly regarded LLP with extensive expertise in supporting charities and social enterprises. Encore's has a Constitution of a Charitable Incorporated Organisation whose only voting members are its Trustees I'Foundation' Constitution) Recruitment und appointment of trustees To ensure stability, three of the former Trustees of the CIC all transferred to the Trusteeship of the new CIO. During the course of its first year, the Trustees have determined that the Board needs to be larger for the size of the organisation and to ensure a broader range of skills. As part of this, it carried out a skills audit towards the end of the reporting period and aims to increase the size of the Board from 3 to 5 during the next reporting period. Organisotionalstrurture The Charity has a well-establi5hed and experienced CEO, supported by a Busines5 Manager (Business & Operation51 and an Education Manager (delivery of services). These are supported by a small team of specialist Coordinators and area Leaders, and 60+ front line delivery professionals. Page 11
Encore Enterprlses CIO Trustees, Report Icontinuedl Financial instruments Objectives and policies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives Is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Ca5hflow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charitvs credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified Ioss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity rlsk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity Uses a mixture of long-term and 5hort-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 12
Encore Enterprlses CIO Trustees, Report Icontinuedl The annual report was approved by the trustees of the charity on 6 January 2026 and signed on its behalf by.. Mrj Trustee odfrey Mrc P Woollard Chief Executive Officer Page 13
Encore Enterprlses CIO Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affair5 of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP,. make judgements and estimates that are reasonable and prudent- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the finantial statements- and prepare the finantial statements on the Eoing toncern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disc105e with reasonable accuracy at any time the financial posltion of the charity and enable them to ensure that the financial Statements comply with the Charities Act 2011, the Charities (Account5 and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial 5tatement5 may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 6 January 2026 and signed on its behalf bv.. MrJT Trustee odfrey Page 14
Encore Enterprlses CIO Independent Examiner's Report to the trustees of Encore Enterprises CIO I report to the trustees on my examination of the accounts of Encore Enterprises CIO for the year ended 31 August 2025. Responsibilities and basis of report As the charity trustees of Encore Enterprises CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Encore Enterprises CIO'S accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement Since Encore Enterprises CIO'S gross income exceeded £250,OLK) your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respert.. l. accounting records were not kept in respect of Encore Enterprises CIO as required by section 130 of the Act- or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Report51 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 toncerns and have come across no other matters in connettion 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. Page 15
Encore Enterprlses CIO Independent Examiner's Report to the trustees of Encore Enterprises CIO (continued) zGraham M John Bsc FCA Independent Examiner The Institute of Chartered Accountants in England and Wales Young & Co (Hereford) Limited St Ethelbert House Ryelands Street Hereford HR40LA 7January 2026 Page 16
Encore Enterprlses CIO Statement of Financial Activities for the Year Ended 31 August 2025 Unrestrirted funds Restrirted funds Totsl 2025 Note Income and Endowments from: Donations and legacies Charitable activities 233,525 247,093 13,000 1,500 9,118 235,025 256,211 13,000 Investment income Total income 493,618 10,618 504.236 Expenditure on: Charitable activities 1563,0351 11,ooii 154,7381 1617,7731 11,ooii Other expenditure Total expenditure 1564,0361 154,7381 1618,7741 Net expenditure 170,4181 144,1201 1114,5381 Net movement in funds 170,4181 144,1201 1114,5381 ReconclllatSon of funds Total funds brought forward 192,702 404,309 597,011 Total funds carried forward 19 122,284 360,189 482,473 The notes on pages 20 to 31 form an integral part of these financial statements. Page 17
Encore Enterprlses CIO Statement of Financial Activities for the Year Ended 31 August 2025 (continued) Unrestrirted funds Restrirted funds Totsl 2024 Note Income and Endowments from: Donations and legacies Charitable activities 212,521 275,227 5,126 365,909 66,584 578,430 341,811 5,126 Investment income Total income 492,874 432,493 925.367 Expenditure on: Charitable activities 1511,7751 11,7441 152,1231 1563,8981 11,7441 Other expenditure Total expenditure 1513,5191 152,1231 1565,6421 Net lexpenditurel/income 120,6451 380,370 359,725 Net movement in funds 120,6451 380,370 359,725 ReconclllatSon of funds Total funds brought forward 213,347 23,939 237,286 Total funds carried forward 19 192,702 404,309 597,011 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 15 shown in note 19. The notes on pages 20 to 31 form an integral part of these financial statements. Page 18
Encore Enterprlses CIO (Registration number: 1204824} Balance Sheet as at 31 August 2025 2025 2024 Note Flxed assets Tangible assets 12 2,391 1,045 Current assets Stocks 13 loo loo Debtors Cash at bank and in hand 14 11,995 479,436 2,902 598,584 15 491,531 601,586 Creditors: Amounts falling due within one year 16 111.4491 15,6201 Net Current assets 480.082 595.966 Net assets 482,473 597,011 Funds of the charlty: Restrlcted Income funds Restricted funds 360,189 404,309 Unrestricted income funds Unrestricted funds 122,284 192,702 Total funds 19 482,473 597.011 The financial statements on pages 17 to 31 were approved by the trustees, and authorised for issue on 6 January 2026 and signed on their behalf bv- Mr R A Glasspoole Trustee The notes on pages 20 to 31 form an integral part of these financial statements. Page 19
Encore Enterprlses CIO Notes to the Financial Statements forthe Year Ended 31 August 2025 l Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation Encore Enterprises CIO meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical c05t convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. Golng concern The trustees tonsider that there are no material uncertainties about the charity's ability to continue as going concern. Income and endowments Voluntary income including donations, gifts, legaties and grants that provide tore funding or are of a general nature 15 recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Grcnts 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 15 recognised as a liability and included on the balance sheet as deferred income to be released. Investment income Interest receivable on bank deposits is recognised for the period it accrues. Page 20
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs Cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. All resources expended are inclusive of irrecoverable VAT. Choritable cctivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to SUPPOrt them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis tonsi5tent with the use of resource5, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Government grants Government grant5 are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it 15 recogni5ed as deferred income. Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Page 21
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordinglv, the charity is potentially exempt from taxation in respect of income or capital gains received within tategories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fimed assets Individu31 fixed assets costing £100.00 or more are initially recorded at cost. Depreclatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class InstrLJments Depreciation method and rate 20Yo of cost per annum 20% of cost per annum 33% of cost per annum Fixtures and fittings Computer equipment Cash and $h equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 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 income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Hire purchase and finance leases Leases in which substant1311y all the risks and rewards of ownership are retained by the lessor are tla55ified as operating leases. Renta15 payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term. Page 22
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) Financial instruments CIL75sificotion Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument Is any contract that evidences a residual interest in the assets of the charity after dedLJrting all of its liabilities. Recognition L7nd meosurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transactlon COStsl, unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists 3 legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability Simultaneously. Financial assets are derecognised when and only when al the contractLJal rights to the cash flows from the financial asset expire or are settled. bl the charity transfers to another party substantially all of the risks and reward5 of ownership of the financial asset, or cl the charity, de5Plte having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 23
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 2 Income from donations and legacies Unrestricted funds General Restrlcted fund5 Totsl funds Grants, including capital grants,. Government grants Grants from other charities 233,525 233.525 1,500 1,500 Total for period ended 31 August 2025 233,525 1,500 235,025 Total for period ended 31 August 2024 212,521 365,909 578,430 3 Income from charitable activities Unrestricted funds General Restricted funds Totsl 2025 Music service5 247,093 9,118 256,211 Unrestricted funds General Restrlcted funds Totsl 2024 Music services 275,227 66,584 341.811 4 Investment income Unrestricted funds General Totsl funds Interest receivable and similar income; Interest receivable on bank deposits 13,000 13,000 Total for perlod ended 31 August 2025 13,000 13,000 Total for perlod ended 31 Au8USt 2024 5,126 5,126 Page 24
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 5 Expenditure on charitable activities Unrestricted funds General Restrlcted fund5 Totsl 2025 Note Music services 270,743 287,684 4,608 48,400 6,338 319,143 294.022 4,608 Allocated support costs Governance costs 563,035 54,738 617,773 Unrestrlrted funds General Restricted funds Totsl 2024 Note Music services 219,914 288,813 3,048 52,123 272,037 288,813 3,048 Allocated support costs Governance costs 511,775 52,123 563,898 6 Other expendlture Unrestrlcted funds General Totsl 2025 Note Depreciation, amort15ation and other Similar costs I,ooi I,(x)i I,ooi I,ooi Unrestricted funds General Total 2024 Note Depreciation, amortisation and other similar costs I,ooi I,cKJi I,ooi I,LK)i Page 25
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 7 Analysis of governance and support costs Governance costs Unrestricted funds General Totsl funds Independent examiner fees Examination of the financial statements Other fees paid to examiners 600 4,008 600 4,(x)8 Total for period ended 31 August 2025 4,608 4,608 Total for period ended 31 August 2024 3,048 3,048 8 Net incomingloutgoing resources Net loutgoingl/incoming resources for the year include: 2025 2024 Depreciation of fixed assets I,ooi 1,744 9 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 10 Independent examiner's remuneration 2025 2024 Examination of the financial statements 600 600 Other fees to examiners All other services 4,008 2,448 Page 26
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 11 Taxation The charity is a registered charity and is therefore exempt from taxation. 12 Tangible fixed assets Furniture and equipment Totsl Cost At I September 2024 Additions 56,043 2,347 56,043 2,347 At 31 August 2025 58,390 58,390 Depreclatlon At I September 2024 Charge for the year 54,998 I,ooi 54,998 I,ooi At 31 August 2025 55,999 55,999 Net book value At 31 August 2025 2,391 2,391 At 31 August 2024 1,045 1,045 13 Stock 2025 2024 Stocks loo loo 14 Debtors 2025 2024 Prepayments Other debtors 1,495 10,500 2,902 11,995 2,902 Page 27
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 15 Cash and cash equivalents 2025 2024 Cash on hand 550 478,886 342 598,242 Cash at bank 479,436 598,584 16 Creditors: amounts falling due within one year 2025 2024 Other creditors 1,170 10,279 909 4,711 Accruals 11,449 5,620 17 Pension and other schemes Defined contribution pension scheme The charity operates a def1ned contribution pension scheme. The pension c05t charge for the year represents contributions payable by the charity to the scheme and amounted to £9,76812024- £4,748). Defined benefit pension schemes Local Government Pension Scheme LGPS is a 'defined benefit, pension scheme. This means that members are assured of a certain level of pension benefits when they retire, based on the number of years of membership and the salary they received over that period. The LGPS is a 'funded' scheme. This means that the scheme aims to achieve solvency, that is, they are required to hold assets to cover the cost of the benefits Iliabilitiesl. It is also worth noting that LGPS is funded at local and employer level. Page 28
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was £19.98212024- £25,2421. The total cost relating to defined benefit schemes for the year included in the cost of an asset was £Nil 12024- £Nill. 18 Commitments Other financial commitments The total amount of other financial commitments not provided in the financial statements was £6,761 12024- £8,478). Page 29
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 19 Funds Balance at I September 2024 Incoming resources Resour5 expended Balance at 31 August 2025 Unrestricted funds General 192,702 493,618 1564,0361 122,284 Restrirted funds 404.309 10.618 154.7381 360.189 Total funds 597,011 504,236 1618,7741 482,473 Balance at 21 September 2023 Incoming resources Resources expended Balance at 31 August 2024 Unrestrirted fvnds General 213,347 492.874 1513.5191 192.702 Restrlcted funds 23,939 432,493 152,1231 404,309 Total funds 237,286 925,367 1565,6421 597,011 The specific purposes for which the funds are to be applied are as follows.. Restricted funds are in respect of grants received for specific projects. The grant funders are: Paul Hamlyn Foundation Eveson Trust Hereford Youth Muslc Hereford Arts in Action Ltd (The Music Pool) Knife Angel Hereford l Mcconauille lane Cadbury Page 30
Encore Enterprlses CIO Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 20 Analysis of net assets between funds Unrestricted funds General Total funds at 31 August 2025 Restricted funds Tangible fixed assets Current assets 2,391 131,342 111,4491 2.391 491,531 111,4491 360,189 Current liabilities Total net assets 122,284 360,189 482,473 Unrestricted funds General Total funds at 31 August 2024 Restrlcted funds Tangible fixed assets Current assets 1,045 197,277 15.6201 1,045 601.586 15,6201 404,309 Current liabilities Total net assets 192,702 404,309 597,011 Page 31
Young & Co Buslness Advisors & Chartered Accountsnts yn9 & Co i%thetrading name ofyouno & Co (Hereford) knmited Comrfjny numbw 162523371 RegLStereJ in Eroland Registered office.. SiEthelbertF*Me, Ftydandssieet Hweford, HR4 OLA T. 01432 263282 E erKJuiries@yDunyarYJLo.uk %ww.younganJ.co.uk Some of the servlces that we can offer, Accounts Preparation • Audits Bookkeeping & VAT returns Business Plans Cash Flow Forecasts Charity Accounts Company Fomialion Computtsr Sèrvices and Training Forensic Accounting Manayement Buy Outs l Buy Ins Payroll Small Flmi Loan Guarantee Schemes • Tax Planning Taxallon Expert Witness Service RegL5teJtO canyonwLltwrf(and [edr0raraDle0l11strntbwe$sacvStythelnstl01crerj AoxLrfants1nEngJaTrW$