Charity number: 206425
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 19 |
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | M Preston |
|---|---|
| A Owen,Treasurer | |
| P Thomas,Chair | |
| C Rapley (Deceased,26 October 2024) | |
| Charity registered number 206425 Principal office 3 Brigg Street Norwich Norfolk NR2 1QN Accountants Larking Gowen LLP Chartered Accountants Prospect House Rouen Rd Norwich NR1 1RE Bankers Barclays Bank PLC 5/7 Red Lion Street Norwich Solicitors Rogers & Norton The Old Chapel 5-7 Willow Lane Norwich NR2 1EU |
Page 1
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2024 to 31 December 2024.
Objectives and activities
a. Policies and objectives
The objects of the society are to promote the welfare of its members spiritually, socially, intellectually and physically and to aid missions at home and abroad.
b. Activities undertaken to achieve objectives
The society’s policy objectives are met by the provision of sports facilities at Brigg Street Norwich and Hilltops Swardeston. The trustees are mindful of the need to ensure the activities of the charity fulfil the criteria for public benefit and have given careful consideration to the Charity Commissions general guidance.
c. Donations and grant-making policies
The society makes charitable donations to other organisations catering for young people and religious activities at home and abroad.
Grant and donation applications are reviewed by the Secretary and discussed at the meetings of the Finance Committee. Recommendations are subsequently put to the General Committee for approval.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The trustees have had due regard to the Charity Commission guidance on public benefit. The activities undertaken to further the charity's purposes for the public benefit are described above.
Achievements and performance
a. Review of activities
The society provides table tennis facilities to its own teams at Brigg Street. The society also supported its own football and cricket teams.
In keeping with the society’s objectives particular support has been given to young persons via the CEYMS / Swardeston Youth Cricket Development Programme with donations of £11,000 (2023: £11,000).
There is a net surplus before the realised and unrealised gains on investments of £149,485 (2023: net deficit of £62,832).
An insurance settlement of £223,000 was received during the year in respect of the flood at Brigg Street in the previous year.
b. Investment policy and performance
The society invests in stocks and shares using a professional firm of stockbrokers for advice. The society also invests in property. These generate the majority of the society's income and may provide capital growth. The current market value of the charity's UK quoted investments is £616,768 (2023: £537,571) and they have a historical cost value of £419,143 (2023: £335,909).
Page 2
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
a. Going concern
The trustees are satisfied with the year-end financial position and that the charity remains a going concern.
b. Reserves policy
The trustees have reviewed the reserves of the charity. This review encompassed the nature of the income and expenditure streams, the need to match income with fixed commitments and the nature of the reserves. There is a need to retain sufficient reserves to fund the expected annual deficit and to guard against the potential loss of rental income. The trustees consider the level of reserves held at year end is adequate and in line with the policy.
During the year the charity’s unrestricted reserves increased from £1,147,320 to £1,306,611 With free reserves of £714,004 (2023: £543,241) being reserves excluding restricted funds and tangible fixed assets.
Restricted funds have increased from £1,917 to £1,975 as a result of the revaluation on the restricted COIF shares.
Structure, governance and management
a. Constitution
Norwich Church of England Young Men's Society is a registered charity, number 206425, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
In looking for new trustees, the existing trustees bear in mind the experience and qualification of possible candidates who are supportive of the Charity’s aims. Successful candidates are elected at a meeting of existing trustees.
c. Organisational structure and decision-making policies
The trustees hold ad hoc meetings to consider major matters affecting the society. They and the general committee are responsible for the day to day running of the society. The general committee members are elected at the annual general meeting.
The Trustees note the sad passing of Trustee Clifford Rapley in October 2024, although their knowledge of this was not until sometime later.
Plans for future periods
There are ongoing discussions with Lakenham Hewett rugby club concerning revisions to their lease.
The Trustees’ continue to explore alternative uses for parts of Brigg Street that have been unused since the Pandemic.
Page 3
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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 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 and signed on their behalf by:
Adam Owen…..…..…..…..…..….. A Owen Trustee 27/10/2025 Date: …..…..…..…..
Page 4
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's report to the Trustees of Norwich Church of England Young Men's Society ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
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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: 27 October 2025
Christopher Yeates FCA DChA
Larking Gowen LLP Chartered Accountants Norwich
Page 5
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Income from: Donations and legacies 2 Investments 3 Other income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure) / income before net gains on investments Net gains (losses) on investments Transfer between funds Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 10,922 - - 10,922 - - 10,922 58 (10,922) 58 1,917 58 1,975 |
Unrestricted funds 2024 £ - 88,735 223,000 311,735 173,172 173,172 138,563 9,806 10,922 159,291 1,147,320 159,291 1,306,611 |
Total funds 2024 £ 10,922 88,735 223,000 322,657 173,172 173,172 149,485 9,864 - 159,349 1,149,237 159,349 1,308,586 |
Total funds 2023 £ 17,525 88,820 - |
|---|---|---|---|---|
| 106,345 | ||||
| 169,177 | ||||
| 169,177 | ||||
| (62,832) 23,003 - |
||||
| (39,829) | ||||
| 1,189,066 (39,829) |
||||
| 1,149,237 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 19 form part of these financial statements.
Page 6
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Fixed assets Tangible assets 9 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total net funds Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
16,685 102,599 |
2024 £ 592,607 616,768 1,209,375 99,210 1,308,586 1,975 1,306,611 1,308,586 |
5,744 24,813 |
2023 £ 604,079 537,571 |
|---|---|---|---|---|
| 1,141,650 7,587 |
||||
| 119,244 (20,034) |
30,557 (22,970) |
|||
| 1,149,237 | ||||
| 1,917 1,147,320 |
||||
| 1,149,237 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Adam Owen
…..…..…..…..…..….. A Owen Trustee Date: …..…..…..…..27/10/2025
The notes on pages 8 to 19 form part of these financial statements.
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
1.1 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.
Norwich Church of England Young Men’s Society meets the definition of a public benefit entity under FRS 102.
1.2 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.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold
1.3 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
1.5 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.
Page 8
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
1.6 Tangible fixed assets and depreciation
The charity previously adopted a policy to write off expenditure directly to the statement of financial activities in respect of plant and machinery (of a capital nature). A policy of capitalising fixed assets costing in excess of £599 and charging depreciation was adopted from 1 January 2002 for all plant and equipment purchased thereafter.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
- Freehold property 2% straight line - Plant and machinery 15% reducing balance / 33% straight line
1.7 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.
1.8 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.
1.9 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.
1.10 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.
Page 9
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
1.11 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 measures at their settlement value.
1.12 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
1.13 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Grants Total 2024 |
Restricted funds 2024 £ 10,922 10,922 |
Total funds 2024 £ 10,922 10,922 |
Total funds 2023 £ 17,525 |
|---|---|---|---|
| 17,525 |
The charity received £10,922 (2023: £17,525) from the Football Foundation towards the cost of a new ground maintenance equipment.
Page 10
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. Investment income
| Investment property rentals Listed investments income Total 4. Other income Insurance settlement Total 5. Analysis of expenditure by activities |
Total funds 2024 £ 74,740 13,995 88,735 Total funds 2024 £ 223,000 223,000 |
Total funds 2023 £ 74,557 14,263 |
|---|---|---|
| 88,820 | ||
| Total funds 2023 £ - |
||
| - | ||
| Governance Members’ activities Charitable donations Total 2024 |
Activities undertaken directly 2024 £ - 155,757 11,000 166,757 |
Support costs 2024 £ 6,415 - - 6,056 |
Total funds 2024 £ 6,415 155,757 11,000 |
|---|---|---|---|
| 173,172 |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. Analysis of expenditure by activities (continued)
| Governance Members’ activities Charitable donations Total 2023 |
Activities undertaken directly 2023 £ - 153,924 11,000 164,924 |
Support costs 2023 £ 4,253 - - 4,253 |
Total funds 2023 £ 4,253 153,924 11,000 |
|---|---|---|---|
| 169,177 |
Charitable donations includes payment of £11,000 (2023: £11,000) to CEYMS / Swardeston Cricket Club Youth Section.
Analysis of direct costs
| Staff costs Rates and insurance Light and heat Property equipment and repairs Professional Fees Sundry Property depreciation Equipment depreciation Charitable donations Playing field maintenance Sports charges Total 2024 |
Members activities 2024 £ 67,241 27,634 4,595 14,454 1,362 454 12,844 13,199 - 8,974 5,000 155,757 |
Charitable donations 2024 £ - - - - - - - - 11,000 - - 11,000 |
Total funds 2024 £ 67,241 27,634 4,595 14,454 1,362 454 12,844 13,199 11,000 8,974 5,000 |
|---|---|---|---|
| 166,757 |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. Analysis of expenditure by activity (continued)
| Staff costs Rates and insurance Light and heat Property equipment and repairs Professional Fees Sundry Property depreciation Equipment depreciation Charitable donations Playing field maintenance Sports charges Total 2023 6. Independent examiner’s remuneration |
Members activities 2023 £ 61,158 25,496 4,745 17,967 396 966 12,844 17,618 - 7,734 5,000 153,924 |
Charitable donations 2023 £ - - - - - - - - 11,000 - - 11,000 |
Total funds 2023 £ 61,158 25,496 4,745 17,967 396 966 12,844 17,618 11,000 7,734 5,000 |
|---|---|---|---|
| 164,924 | |||
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity’s independent | 2,860 | 2,750 |
| examiner for the independent examination | ||
| Fees payable to the Charity’s independent | 1,847 | 1,642 |
| examiner for other services |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. Staff costs
| Wages and salaries Social security costs Pension contributions Total 2024 |
2024 £ 61,807 4,252 1,182 67,241 |
2023 £ 56,594 3,598 967 |
|---|---|---|
| 61,159 |
The average number of persons employed by the Charity during the year was as follows:
| 2024 | 2023 |
|---|---|
| No. | No. |
| 4 | 4 |
No employee received remuneration amounting to more than £60,000 in the year.
The Key Management Personnel (KMP) of the charity are represented by the trustees and general committee who are not remunerated and the charity's secretary. During the period total KMP compensation totalled £Nil (2023: £Nil).
Included in the wages and salary costs above, are ex gratia payments of £Nil (2023: £Nil).
8. Trustees’ remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023: £Nil).
During the year, no Trustee expenses have been incurred (2023: £Nil).
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. Tangible fixed assets
| Cost At 1 January 2024 Additions Disposals At 31 December 2024 Depreciation At 1 January 2024 Charge for the year On disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Freehold property £ 730,913 - - 730,913 209,889 12,844 - 222,733 508,180 521,024 |
Plant and machinery £ 205,195 14,572 - 219,767 122,140 13,200 - 135,340 84,427 83,055 |
Total £ 936,108 14,572 - |
|---|---|---|---|
| 950,680 | |||
| 332,029 26,044 - |
|||
| 358,073 | |||
| 592,607 | |||
| 604,079 |
The value for insurance purposes of the premises owned by the charity amounts to £5,622,579 (2023: £5,622,579). The trustees estimate the market value of these properties to be in excess of their book value.
The land and buildings at Brigg Street, Norwich comprise two let shops and the Society's rooms used for the direct charitable purposes. It is not possible to separately identify the investment property element and charitable element. For the purposes of property ownership, the trustees have obtained an order vesting the freehold property in the Official Custodian for Charities.
10. Freehold land and buildings at cost comprise:
| Society’s rooms Brigg Street House 23.14 acre playing field at Hilltops Swardeston Sports Pavillion at Hilltops Swardeston Storage Building at Hilltops Swardeston |
2024 £ 209,220 92,892 378,987 49,814 730,913 |
2023 £ 209,220 92,892 378,987 49,814 |
|---|---|---|
| 730,913 |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. Fixed asset investments
| Cost of valuation At 1 January 2024 Additions Disposals Revaluations At 31 December 2024 |
Listed investments £ 537,571 129,162 (59,829) 9,864 |
|---|---|
| 616,768 |
The historical cost of investments at 31 December 2024 was £419,143 (2023: £335,909).
Material investments
| COIF Charities Fixed Interest Fund 12. Debtors Due within one year Trade debtors Prepayments and accrued income |
2024 £ 105,266 2024 £ 277 16,408 16,685 |
2023 £ 102,187 |
|---|---|---|
| 2023 £ 277 5,467 |
||
| 5,744 |
13. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2024 £ 81 1,095 18,857 20,034 |
2023 £ 1,273 3,047 18,650 |
|---|---|---|
| 22,970 |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. Creditors: Amounts falling due within one year (continued)
| Deferred income at 1 January 2024 Resources deferred during the year Amounts released from previous periods Deferred income at 31 December 2024 |
2024 £ 13,333 13,333 (13,333) 13,333 |
2023 £ 13,333 13,333 (13,333) |
|---|---|---|
| 13,333 |
Deferred income relates to rent received in advance.
14. Statement of funds – current year
| Unrestricted funds Designated funds: Cricket nets Fixed asset fund General funds: General fund Total unrestricted Restricted funds: Restricted funds Total funds |
Balance at 1 January 2024 5,279 598,800 604,079 543,241 1,147,320 1,917 1,149,237 |
Income - - - 311,735 311,735 10,922 322,657 |
Expenditure (792) (25,252) (26,044) (147,128) (173,172) - (173,172) |
Transfers - 14,572 14,572 (3,650) 10,922 (10,922) - |
Gains / (losses) - - - 9,806 9,806 58 9,864 |
Balance at 31 December 2024 4,487 588,120 |
|---|---|---|---|---|---|---|
| 592,607 | ||||||
| 714,004 | ||||||
| 1,306,611 | ||||||
| 1,975 | ||||||
| 1,308,586 |
Transfers to designated funds of £14,572 represent capital expenditure.
Page 17
NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
15. Statement of funds – prior year
| Unrestricted funds Designated funds: Cricket nets Fixed asset fund General funds: General fund Total unrestricted Restricted funds: Restricted funds Total funds |
Balance at 1 January 2023 6.211 604,930 611,141 576,104 1,187,245 1,821 1,189,066 |
Income - - - 88,820 88,820 17,525 106,345 |
Expenditure (932) (29,530) (30,462) (138,715) (169,177) - (169,177) |
Transfers - 23,400 23,400 (5,875) - (17,525) - |
Gains / (losses) - - - 22,907 22,907 96 23,003 |
Balance at 31 December 2023 5,279 598,800 |
|---|---|---|---|---|---|---|
| 604,079 | ||||||
| 543,241 | ||||||
| 1,147,320 | ||||||
| 1,917 | ||||||
| 1,149,237 |
16.
Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total 2024 Tangible fixed assets Fixed asset investments Current assets Current liabilities Total 2023 |
Restricted funds 2024 £ - 1,975 - - 1,975 Restricted funds 2023 £ - 1,917 - - 1,917 |
Unrestricted funds 2024 £ 592,607 614,793 119,244 (20,034) 1,306,611 Unrestricted funds 2023 £ 604,079 535,654 30,557 (22,970) 1,147,320 |
Total funds 2024 £ 592,607 616,768 119,244 (20,034) |
|---|---|---|---|
| 1,308,586 | |||
| Total funds 2023 £ 604,079 537,571 30,557 (22,970) |
|||
| 1,149,237 |
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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
17. Pension commitments
Total pension contributions in the year were £1,182 (2023: £967). £239 (2023: £761) was unpaid at the year end.
18. Related party transactions
There were no related party transactions during the year requiring disclosure, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024.
Page 19