Yateley Industries est 1935 YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company Registration Number: 00448920 Charity Registration Number: 229571
YATELEY INOUSTRIES FOR THE DISABLED LIMITED IA COMPANY LIMITED BYGUARANTEEI FINANCSAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS PAGES Director5'1 Tm5tee5' report i-ii RefÈr@nce and administrative detai15 12 Statement of tru5tees' re5ponsibilitie5 13 Independent auditor's report 14-16 Statement of financial activities 17 Balance sheet Statement of cash flow5 19 Notes to the financial statements 20-34
YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE) DIRECTORS. I TRLFSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 FOREWORD BY THE CHAIR OF TRUSTEES 11 has been a year of intense and w51tive growth anil change for Yaleley Indu5trie5. Led by our CEO. Sheldon Mcmullan, in his first fvii financial year wilh the Charity. our learn has grown, our engagement in the local communily has grown and our impad has grovm. We've enhanced the support av8i18ble lo our staff with the reintroducts' ol job coaching. We've been able to make vital improvements to our site thanks lo granl funding. Our Slte is buzziThJ wilh activity and e're deltqhled to share the vibrant and positive atmosphere with more peop. Of course the challenges of being a small charity, especially one still dealing with the legacy of historic misrnanagement issues, remain. We're aayS going to be mindful of our finances. so that we can ensure we conbnue lo be able lo delNer lor our benefiuaries. Thanks lo the hard work of the management team and trustee board and the geneTous support Ilxith rnonetary and othetwise) from our stakeholdets, Yateley Industries is in a position of financial stability. We have agreed a paYment plan for the pen5K>n defiat with the appointed pension trustees and continue to seek way5 10 reduce the burdell of the 5chem8. This has enabled us to Push for innovatton. devek)prnent of new serwces to support our beneficiaries and once again be a key part of the community in Yateley. 11 was wonderful lo be part ol the Community Action Day with Community Matters Partnership in March, where 70 people came to help Spru up the Yatey Industries site for the spring. We look forward to many more of these events in the future. Whilst the growth in the number of peop hawng to use our comtnuntiy pantry 15 an unfortunale reality of the currenl econofflic situation, w8 are proud to be able to offer this service. The L8unch ol our communily hub and community cafe lin¢ludiro wnterwarm space wth subsidised meals), is a welcome addition to our site. It has mean¢ that this year we've had more events, for our staff, residents and the wider community. We're especialty exaled lo be bringIj hand block printing back - the original industry the charity was esiablished to provJe. We were also proud to see our fortner CEO, Linda Matthews. presented a British Empire Medal for her years of dedicatK)n to the charity sector. Induding her inrxedible work to help save Yateley Industries. After 23 years as our Finance Manager. Janet Higginbotham retired in March. We are gratelul for her outstanding contributions to ihe charity over the years and wish her a happy and relaxing reliremenl. In such a close comrnunity. everyone al Ihe charity was devastated to lose long-time resident and colleague, Alice Hopkins, in June. Al'S 25 years al Yaley Industri8s was Cebrated and commemorated wth a tree pLinted on site in her honour. Thank you to everyone who has contributed lo Ihe charity this year. l am confident there are more great iniiiatives to come as the charity continues to grow and devebp. We kmjk forward to wekoming more and mce b)eficianes. supportws aTrJ commvnity partners to our sile. Sarah Beciwlth Chalr of Trustees
YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMrrED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES The objects for which the As50ryation i5 eslabli%hed as set out in the Articles of As$clatIOn are the relief of those in need be&4use of bng lem) healih condibons or di5abilrty ty Ibui without prejudice lo the generallly of the loregoing) providiNJ vocational training. empbyment and I w )mmOdation. Th8 Bciard's vision {agreed in 20201 for the chlty is for Yateley bi be 'A thrNing. Sustainab and valued community creatr'ro living, learning arKI working opportunilies for disabkd Feople wthin der souety" The maln 8ctivib.es undertaken by Yaley Industries for th8 Disabled Ltd IY8teley Industri8s" 1 "the Charilfl are as follows.. Residential Accommodation Prowsion of resklenlial accormdation lor up to 47 people with disabilities in a mixture of one and two slor8y buihjings on the Yaietey Industsies site. Factory- Our mission ststement for the factory is to sustain and increase the opportunities for people with disabilities #i rewarding employment. wth an occup3tiorb that enab$ a disabled person to contribute lo society through work. In orderio ftjhll this a5ped of ourrni55K)n the tharily also undertakes activities in the following 8reas.' al Work and worki)asèd trainlng prowded to enable our disaNed colleagues to undertake maaninglul rnainslrearn empk)yment lin indwidual cases where disability perrnitsl. through progression. Where mainstream progression is not an option. chances of internal progression are maximised. Training is utKlertaken in Ihe speuk areas of factory produciion and re¢all. bl Access to Work- the Governllnt prOdeS grants and support tor those who are disabled or have a physicAI or rTbental health conditn that make5 it hard for Ihem to do their jobs. Customers recefve support from coaches and reasonable adjustrnents from their employers to ensure they are not di5a(fv8ntaged in work. We ¢>JrrenI have one job supporting our factory stsff. ¢1 Soclal Ilfe and behavlour- to achieve true integration into mainstream Soctydl5abd peoplÈ musl wssess the Sal skills that are an essential part ol everyday life. To this 8nd, Yateley Industries encourages al our disatAed cuslomers and reSidlS to jDin in wlh soc4al actNiti85. All the disabled people at Yatdey IrKlustries are expected. and have the right. to live independent. A pramMe of swal activities is provided in our Community Hub {see below). dl 011 Collectlon and Dellvery-wÈwork vthh kjcal uganisations to support them in thery)Ilection of old oil and lo delNer new cooking oil. The oil is recyckd on sitè arKI ithdes add081 skills d wk lo some ol our staff. Helping Hands Charity Shop- Our charily shop on High Streel. Hartley Winlney was nol genatIng enough incom8 to contribute any surplus to the (tsrity. so we made Ihe diffult decision to clt)se it and focus all of our efft>rts on our main sile in Yaleley. Community Pantry - Supported by Hampshire County Council and Hart Council the pantry supports individuats who are facing ftnanoal difficulties. peop can awss fresh, frozen and ameThI food for 8 small metnbership fee each 7$11. We now have in excess of 750 members and it has ieceived excellent feedbad( from members and other supwrt organisalions. We are delvJhled to be further suppixting the local community and anticipate the panlry will provide lubJre work and training opportunities for Yatoley Industries. Community Hub- suilg on the success of the Cornmunity Panty, we have cated a Community Hub. This serves as a wbrant afKI inclusive space, fostering connections. nouri5hrnenl. growth.
YATELEY INDVSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMrrED BY GUARANTEEI DIRECTORS. I TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Our Community Café offers a delvJht(ul wlnary experience. vthere visitors can enjoy freshly bi¢wed ex)ff88 and indulge in homemade treats whik engaging in INely conversations. New versati18 Community Space5 are available for hire. accommodating various needs such as gatherin. training sessions and professional meetings. L85tty. OUT Cornfflunity AlkJtrn6nt invites individuals to reconnect with nature, creating a sense of nurturing aThl svslainable praCte$. We also gratefullyaccept donations offrui¢8 an(J Vegetsb for our Communty Panlry from c4Jmmunty grow8rs.
YATELEY INDUSTRIES FOR THE DISABLED LIMrtED (A COMPANY LIMrtED BY GUARANTEEI DIRECTORS. I TRUSTEES, REPORT FOR THEYEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE Summary of those directty benefitirKJ from yate Induslries 3cbVtl". Total empbyees 78 Employee5 orb TESG & Atw+ 59 TESG Atw+ Local authorrty funded slaff Access to Work cu5tomew5 Volunteers Residents Community Pantry Members 18 39 730 at end of March 24. Occupancy of the residential buikjings has increased to 83% as we continue to deal wth th8 exodus during the pandemic. We havè to be vèry cAreful in adding Ihe right tharacters into our wonderful communily and this takes tirne. We trK)pe that the reinlroduclion of free lce daity Sla1 activities through our Cdmmunty program Manager function WAI make the prospecl of living at YI nre appealing to new residents and their parentslcarers. Yateley IrKILJs1ries receN85 furKling from Ihe Departrrwt of W¢yk aThJ Pensions IDWPI. The rate lor TESG workplaces Inease at the beginning of the year from £5.000 10 £5,505 per place per annurn. Yateley Industries is one of ten organisations invofved with the Proof of Concept for the DWP Access lo Work Plus IAtW+l which will eventualty replace TESG. This pilot was paused untll -Autumn 2024., when we hope to recruit new staff and Èvèntual tr8nsl8r existing TESG $ff over lo AIW+ iow8rd8 the end ofthe calendaryear 2024_ W8 are 8Ctwety invofved in shaping the fvture ofthis concept, as Yateley Industr$. business is relianl on these payments to be able lo cover the wages paid to employees. The Access to W4Nk coath seNce. delivering in work suprK)rt has begun again in a small way. It15 very much in line th the aims of the charity to supwwt people wÈlh disabi1iti85 into rn8aningful ernployment and fomis a large part of creating a pathway through our services, into'mainstream employment. and tsn8ures that disabled people do not all have to VKJrt in slast Se)S. We added a Fundraising luncth)n part way Ihrwgh the year thanks to grant funding from the Aeonian FourKlalion. This has been enorniously successful. Maria IAannan our new Community & Events Fundraiser has done an inttedible job bringing the CA)mmunity in, raising awareness and generaknng ftJrKls for us. Poppy Bastin wr new Trusts & Grants Fundraiser, has already landed sorne 'g grants which have enabd us to supercharge ojr Communily Hub offer and get the Café off th6 ground. Within Ihe faclory, Ihe major NItIeS undwtakan by Yatè $mpk)ytre$ irtludè kagIng prod1& such as soaps, svJnage, hardware and luxury hampers. PUCtion at the factory has continued to increase and we are plqnning to open later and a150 on weekends, in orderto help more disabled people into employment and aLso cDpe wth the increased demand from our customers aThJ the need to generate Dra income for us. We ne1 lo broaden our of customets arKI a wrking hard lo ansurè we have enough work for our tsams. We have growing numbers ol reguL4r v(Aunteers Ihat supwt the Charity. Many of these work the Community Pantry, but we are also working dtssely with many ¢orporate groups wa Communily Matters Partnership ICMPI who link corporate5 to charities to fulfil CSR oty'ectives_ These actniitl8s have helped us tidy th8 giwnds. repaint the communiiy spacEs and transfomi the factory into a bright and vibrant space.
YATELEY INDUSTRIES FOR THE DISABLED LIMITED {A COMPANY LIMITED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The report confirms thal Ihe financaal slatements: Have been prep8Tèd in ac¢x)rdan(x with the )Unting poliixes sel out in rKJtes lo the fina31 5talern8nts-, COmY with the charivs goveming document: The Companies Act 2006.. and Accounting and Reporting by Charilies-. Staternent of Recornrnended Practice applicab to charities preparing their accounts in accordanc£ with the Fwianaal Reting Standard applieablÈ in thè UK and Rèwblic {th8-Charities SORWI TheTrusiees confimi that they have had regard tothe CharityCommi%sion's guidance on Publ benefit. Flnanelal Positlon Thè Ch8rtVs knrnover iru8as8d 39% for the year. De5te a Ivrther tsll in thir(I paty Job Go8ch4ng aclwity, a reduction in charity Shop income and an 8% fall in Local Aulhority funding, there was tremendous growth in Fundraising. up overfNe-l<Jkl. In-IK)use owPfiJrIng, rents frorn Accommodation and Community Panty income all showed steaty increases. Fundraisiro revenues of some £500.0(M) i1ded a laTge legacy. but aL benefitted from a number of grants brought in by the new fundr8i5ing tsam. Overall TESGIAw5S to Work+ receipts from the DWP declined 70k, but irTr-house funding increased, helped by the start of new emph)yees on the Acc6SS to Work+ sChe, which is expected to plaCe TESG. Local Authorty tharges raised reduc8d due to 8 fewer nurnber of eligible employees. Overall Workshop sales increased 2%, inddIng Biodi8S81 Tevenues. Within ren(s and tharges rer£Nable. rental income from aCCmlXIakn.0n increased by 20%, due to rent Incr8ases and a r8duction in th8 nufnber of voids. The Communty Panty grew a further 15% from conlinuiro growth in mernbership from people needing he with their household expenditure. Th8 Cornmunty Pantry is supwyt8d by a L1 Authority grant to en8bb tt to thrive. There w88 8 resldual income from the Helwng H3nds charily shop. which has been ck)sed, and an initial srnall reven from the slart-up of a Community Café. D8spile growth in the National Lfving Wage of nearty 10%. and a ths incurred al th8 charity shi4), thè Gr05s Margin Ireased nearty 11 pertentage pTh[s as the conlributions Irom Fundraising and Awimm(Klafion irveased. Central costs. exduding pension payments. Ireased 30% due to the increase in stsff and the me than doubling in professional fees due to various property related issues. De$te this. operaiing profit before pension contrbutions. deprec4ation and interest increased 141%. During the yearthe Trustees o)mpleted a long-te¥m £1.5m financiThJ arrangement. We have been ab to r8duc8 the charity's margin of borrowing although total interesthas increased by 45% from the higher loan and the rise in interest rate5. cerall, the tharity finished the y8ar vrith gr05s cash of some £400,000. Unrestrided funds are £1.009,430 in de[t as 3131 Marth 2024 which arose from the rettounition of the defined benefit pension scheme liability. The charity continues to make addit)nal conlributions towards the pension scheme deficit and paid the annual £120,000 plus a £350,0) specBI conlribution lo the pensK)n herne ir5 the year. The scheme has at last been brwght fulty up to dale in terms of historic Bsues and we have agree(l a 10-year Deficit Repalr pian with the Stherne Ttustees, advlsors and The Pension Regulat. This wll effeclNety"nomiah'se" the stheme in the eye5 ofthe reG4Jl8tor and enats focus to switch to raisiThJ the funds lo meet the agreed futyre contributions. The most recent
YATELEY INDUSTRIES FOR THE DISABLED LIMrrED IA COMPANY LIMED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 scheme valuation shows a reduced level ol pensi deficil drNerb mainly by the latest contributions and increased interest rates. The former CEO continues to owe th8 P8nsKJn scheme a small residual amount frorn the conlisG4tion order made against him in 2020. Overal, the finanual perlormance was ahead of budget, and we belreve the prospects put the charity on course wth its 10 year Perb5ion Deficat Reduclion Plan. Investment policy The Memorandum and Articles of Associalh)n govèrns ar provKles Ih8 framework wilhin which the Charity makes its investment decisKtyns. Repaying wr loan and ensn de(lts is Ihe priority for Ihe Charity io ensure ils futu sustainability. Reserves policy Yateley Industries has a reseNes poIY to enable the chartty to meet the good practice starKJards of the Charity Commission GuvJ3nce CC19'Charity Reserves and Buikjing Resilience". The reserves are held to cover fluctuations that may 8rrse in projected opeialiTrg income 3ndlor expenditLJre and the need to wnd down the Cornpany in an ordeAy fashion IshoL•ld Ihe need arise). The acceptable range of reserves is set annual during the financial forecasting w)d budgeling process and approved by the Board. The reserves are Monite by Ihe Management Team and reported quarterfy to Ihe Board. Funding Sources The Trustees are grateful to those who have contributed financially to Yateley Industries in many ways throughout the year. These contributions are essential lo keep the Charity running. Third Party Fundlng Yateley Industries reason for existsng is to help disable¢J people, and lor that reason il can only operate wth substantial third-party funding. TESGIATW funding Irotn DWP amounted to £291,864 awKI Local Authority lunding amcyJnted to £219.3 Grants- We have received several grants during the financial year. Some of Ihese have been for core funding which is essential lo the organisatK)n. Other grants have been ceiVed which incWAe 5UPWrt for eslale improvements. Legac5os - A way to support us B to remember yale Industrfes In wills. A solit0¥ can advise on a form of Words for a bequest. Onllne Shopping Donations for Yaleley IrK1uslnes can now be raised by those shopping through easyfundraising.org.uklcausestyateky-indu51ries-for-the-disabled4imiledl. Subscriptions- We would like lo lake this optK)rtunity lo thank all hAembers of the Association for their annual SUbriptiOns, ar oui many other suptK)rters who have contributed to the charity over the past y8ar. Currenlty the A$Slatn has 43 members. Donations- All donations. whether cash gift$ or gifts in kind, however small, an(J whatever form are always most welcome. Online donations can be made on the Ya¢eley Industries website". hit s'.Ilww. atele ndustrtes. or on Yaleley Industr*s' Justgiving page.. htt ..IA4ww. ust Nin DonalK)ns can be enhanced via Gift Aid In rtain circurnstances. The Finance Office is happy to provYJe details on request. The Association wishes to record ils gratitude to Ihe followThJ Charitable Twsis, companies, groups and indMdua15 who have made donations to the Charity in the year.
YATELEY INDUSTRIES FOR THE DISABLED LIMrrED (A COMPANY LIMITED BY GUARANTEEI DIRECTORS, I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 A & AC Clark A & R Chapman Aeonian Foundab'on Aldershot Wl Am3zon Srnlle 8 Selby B&Q Foundabon C & V Hopkins C Gibb Charities Trusl Community Org INLF) grant Community Organwtion (Lottery Fund) Co-op Comrnunity Fund Costco CTM Roche D Bagrin D FluS D Hitton Leg E Brunel-cohen EGOW E Rowe F Bulllons Friend5 of St Neots GCNB Harnpshire CC Hart Cars Hart DC Hart Loltery Hook Fun Run J Higglnbotham J Wheeler John Lews I Waitrose K Palrner L Robinson LHC Charity re Asice Hopkins Lucas Close residents M&ES8lby M & N Bareham Hanson M Ranns steel Melinda Gane Friends and family ol Alice Hopkir Mis58lbrook Trusl MPG Crowdfunder Mrs Kirby N Blackley N Ranns OakY Health Group Our House Church P & R Parsons P SoLrthwell R Joyner l A Moores S Beckwith S Hawker S Mercer S Searfe S Walker Sandhurst & Yateley Church
YATELEY INDUSTRIES FOR THE DISABLED LIMrrED IA COMPANY LIMrrED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 saVls CaterirwJ Sir Jeremkqh Tnt St Marls Church St Peterfs Churth T Crampin T H8gue U3A UKSPF VJ & SJ Hatch W Kulbicki W Rampton WISH Yateley & District Gardening Club Yateley & District Lh)ns Yateley Di8trict Gard&nino Socièty Yaleley Knit & Nattgr Yateley Manor Yatel¢y hAedral Centre Yateley Society Yateley Town Councjl Y8te18y Mayor PLANS FOR F REPE 1. Accommodatlon Expanslon: Inc¥ease the number of high-quality. affordabbe and ast)le units. Fu¥ on single-ocupancy, en4Ulte lacAlities. [[rpent sustainable and phased construction projts. 2. Communlty Int•gratlon: Develop a vibrant Q)wrwwnty Hub wilh spaces for hire (ommunty act¢vities. o Operate a Cornrnunity Pantry to sUpt ihose affecled by the cosl-of-lwing crisis. Use the Community Café training. empbyment and sooal inter8Ction. 3. Employment Opportunltles: Expand faciory operatbns nèw partnehipS arKI pioduct lines. Owersify rdes across the organi5ation, including factory, café. and office iobs. Focus on career progression disabled and neurc#Jwergent empk)yees. 4. Skill-Building and Educatlon.. Offer regular workshops on practral skilLs such as digital literacy and financial manag8ment. Partner vnlh educational institutions for awedited vctational trainiThJ. Devek•p structured programmes leading lo'graduation, in¢y¢ase(l empkjyabilty. IrKIusNity Training." Offer indJsNity training lo l(Yal ¢J)mpanies in exchange for SponsshIp, f05terirg rnpanY empknyee eroagement and fundraising efftsrts. 5. Roereatlonal Act5vitles'. Create a variety ol recreational FvryJrammes induding swrts. arts. gardening, aj mUc. Organis8 r8gular cxKnmuntty trips aThJ oulings. Partner wlh IcrAI oryJarosath)rts for a wwjer raThJè of acfvths and funding. 6. Financial Strategy.. Continue lo adtkess the p8nwnfund aThJ kjar through Irreased commercAal income and cost-sawng measures. Adivety pursue trusts and grants from various funding bc*lies. Maintain transparerw and eifriency in fmanual dealings lo buikl trust and attract sUppt.
YATELEY INDUSTRIES FOR THE DISABLED LIMITEO (A COMPANY LIMITED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 7. Advocacy and Knowledge Sharlng: AdVat8 for the need5 of disabled and neurLwJNergenl &Juns to govemment and kjcal authorilies. Share best practeS similar uganisations to (xeale a broader irnpact. 8. Rèpllcatlon and Expanslon: Expk)re a franehise m(Klel to replute Yateky Industries, success in other k)cations. providirrfJ SUPKK)rt and expert8 wilhout dired finanryal investmènt.
YATELEY INDUSTRIES FOR THE DISABLED LIMITED IA COMPANY LIMrrED BY GUARANTEE)
DIRECTORS. I TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE GOVERNANCE AND MANAGEMEP
Govemlng DocLsm•nt
The Organisatn Is 8 charitstAe wmpany limited by guarantee. incorporated on 31 J8nu8ry 1948 and
register8d as a charty on 14 Octobe¥ 1963. The company was estrb1hed under a Merrw)randum ol
Assorialion which estsb11shj the obieds and tkiwer5 of the tharitable company and r& govemed under
ifs Articles of Assctiali
YATELEY INDUSTRIES FOR THE DISABLED LIMED (A COMPANY LIMITED BY GUARANTEE) DIRECTORS, I TRUSTEES, REPORT FOR THE YEAR ENDEO 31 MARCH 2024 Organisational Structure The Charity 15 run by the Trustees, who meet at least quarterty, aThJ they 8rÈ aware tttat they have ultimate responsibility fly th8 Charity and make decisions colle¢tively. The Board has appointed three sub-committees to assist in overseeing priority areas are.. Firhwce. Intemal Affairs and Exiemal Affairs. A salaried CEO is appointed by Ihe Trustees to manage the day-tfFday tact1 0rationS of the Charity. To faeilitale effective operatiorhs, the CEO has lull delated aulhority, within terms of delegation approved by Ihe Trustees, for all operatK>nal matters indudirwJ finance management and empbymenl. The remunerah.an of the CEO is set by the BoÈrd wlh reference to the pay of simiLar posib'ons in similar companieslcharilies. The CEO makes recommer)datbtins to ihe board on the 3tructurè of the managernent team aryj Ihe remuneralion of the Charity's other key management personnel.
YATELEY INDUSTRIES FOR THE DISABLED LIMITED IA COMPANY LIMITED BY GUARANTEEI DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR EhlDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS The following have been invofved wth the adnwnistration of Yateley duriThJ the 2023124 financial year.. DIreCtorsrusteeS Michael Steel Sarah 8eckwith Mark Allen Carolyn Gsbb Edward Brunepcohen Philip Soulhwell Lucy de'Lem05 Neil 81ackley Dawn Jacobs {-OPted December 20231 Company Secretary Carotyn Gibb CEO Sheldon M¢Mullan Audltors Chamberlains Acc4)unlancy. Elm HSe. Tanshire Park. Elstead. GodalmiThJ. Surrey, GU8 6L8. Sollcitors Kni9hls PLC, Midbnd Hc4Jse. West Way. Bolky. Oxft)rd. OX2 OPH Banking Services Barclays Bank Pk. 1 Churchill Place, London E14 5HP Reliarlce Bank Limrted, 23-24 Lovat Lane. London. EC3R 8EB Pension Scheme Dalriada Trustees Limited are ihe Truslees ol Ihe Yaley Indusirfes p8nsior) scheme. Reglstered Office Mill Lane Yale18y Harnpshire GU46 7TF Company Registration Number 448920 Registered Charty Number 229571 Charity Website vmv. atele ndustsiesAyr 12-
YATELEY INDUSTRIES FOR THE DISABLED LIMITED {A COMPANY LIMED BY GUARANTEE) DIRECTORS. I TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees Iwho are also the directors for the purrAJse of rA)rnpany lawl are responsible for preparing the Annual Report and the finanaal stalements in aCconjan wth applicable law and regulations. Company law requires the trustees to prepare financial slalements for each finanrial year. Under that law the trustee5 must prepare the financial statements in accordance wlh United Kingdorn Generally Accepied Accounting Practice (Unrted Kingdom Accounling St3ndards and appliCae lawl. Under company law the trustees must not approve the financial statement5 unless they are satisfied that they give a true and fair view of the stste of affairs of the charitable company atKI of the ir4coming resources and application of resources. including ihe income armj expermyilure, of the charrtable cornp8ny foi that period. In preparing these finanrAal statements. the trustees are required to-. al select suitable accounling poIjeS and Ihen appty thgm cnSistenI1y- bl obseNe the meihods and princip in the Charities SORP.. cl make judgments and actounting estimates that are reonab and prlent. dl stste whether applicable UK Accounliro Stsnd8rds have been followed. subject to any material departures disclosed and explained in the financial statements." and e) prepare Ihe financial statements on the gng concern basi8 unkn it is inappropriate to presume that charitable company wll C)tinUe to operate. The trustees are responsible keeping adequate accA)unting records that are sufficient to show and explain the charitable cornp8nWs transactions and disdose wth reasonable accuracy al any time th8 financial position of the charitable cornpany and enaNe thern to ensure that the financial statement5 CL)rnply with the Companies Act 2CX)6. They are 8lso responsible f( 53feguarding the assets of the company and hence for iaking reasonable steps for Ihe prevention and detects.on of fraud arTrd other irregulaNties. The trustees confirm that so fèr as they are aware, there is no relevant audil information las defined by section 418131 of the Cornpanies Act 20061 of whicj) the charitsble company's auditors are unaware. They have laken all Ihe steps Ihal they oughl io have taken as tiustees in older lo fflake Ihemselves aware ol any relevant audit information and to establish th8t the dwrilable cotnpany's auditors are aware ol that information. Approv8d by Ihe Board of Trustees (bn and signed on ils behalf by Signed 25loR ( L Sarah Beckwith (Chalr) 13-
YATELEY INDUSTRILS FOR DtSABLED LIMITED (A COMPANY LIMITED BY GUABANTEE} INDEPENDENT AUDITOR'S REPORT FOR THE YkAR ENDED 31 P+fARCH 2024 OPINION We have audited Ihe finanual statements of Yateley Industries for Ihe DiSabd Limited {ihe 'charit8ble compan) for Ihe year ended 31 March 2024 whith 0)mlSe the St8t8menl of Financial Admthes, the Balance Sheet, the Statement of Cash FIS and te5 to the financial stalements, including a summary of 519nificant accounting poliues. The financial reporting franworf( that has been applied in their preparation is applrable law and United lfjngdom AUntIng Slandards (Unlted Kingdo Generally Accepted Accounting Practice). Including Financial Reporting Standard 102 The Financial Reporting Standard applicabls in lh8 UK and RepublK of Irelano (United Kin9dom Generally Accepted Accounting Practir£l. In our opinl)n the finan(ial slatements= give a true and fair wew of the state of ts th8ritable o)mpanVs affairs as at 31 March 2024 and ol its incoming resour<s and 8ppIation of resources, iluding its incom6 and expenditure, for the year then ended., hav8 bgen properly ePa in accx)rdaruz with Unrted lfjngdom Generally Acptl A¢wunb"ng Practice.. and have bBen prepared in accordance wth the requiremènts of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in aran wth International Standards Auditing {UKI IISAS IUKII and applicable law. Our reswjnsibilities under those standards are turther described in the Auditors responsitmlilies for the audit of the financial statements section of our report. We are independent of the tharitable company in accordance yrith the ethical requwem8nts that are revant to our 3111 of the firiancial statements in the UK, including Ihe FRC'S Ethul Standard, and we have ftjffilled our other ethical responsibiliti.es In accordan wilh these qUiren&. W8 believe that the audit evidence we have obtained is suffiaenl and aPPTopriate to prowde a basis lor our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statem8ntS. W8 have o)nduded Ihal the trustees. use of the going concern basis of accounting in the preparation of the finan statements is appropriate. Based on the wirk we have perfomied. we have not identified any material uneArtaTnties lating to evttnts or conditnS Ihat, indiwdualty or collectivew, may Lzsl significant doubt on the entitys ability to continue as a going concem for a pèriod ol al a51 twelve monlhs from when the financial 5talernents are authorised lor issue. Our reSpsIbIlitieS and the responsibilrties of the Iwslees wth respect to going (x)n(%m are described in Ihe relevant section5 01 this retx)rt. OTHER INFORMATION The other inlorm8tion o)mprises Ihe infomiation includ&Y in the annual report olher Ihan the financlal statemenls and our audrtorfs report thefeon. The tteeS are respDnsible for Ihe other informati<)n contained within the annual report. Our opinion on the fin8ncial statements d( It covef the tsther information and. except to the extenl otheMse explicity stated in our report. we do rK)t èxpr8ss any form of assurance c£Jndusion thereon. Our Tesponsibility is to the other informah.on and. in &)ing so. consijer whether Ihe olher informab.on is malerialty inconsisient with the finanryal statements or our kno¥edge obtained in the COLJrse ol the audrt or otherwise app63r5 to be matenally misstal&Y. 11 wè id8ntify suth matsrial inconsistencies or apparent material tnisstatements. we are required to determine whether th gives rise to a material misstatement in the finanoal stalwenls theMsee. 11. based on the work we have performed. we cA>nclud8 that there 18 a material misststemenl of this olher infrrntion, we are required to report that lact. 14
YATELEY INDUSTRIES FOR THE DISABLED LIMJTED (A COMPANY LINllTED BY GUARAJ4TEE) INDEPENDENT AUDITOR'S REPORT FOR THL YEAR ENDED 31 NLiRCH 2024 We have nolhlng to repKWt in this regard. OPINION ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006 In our op¥nion, b358d on the work und8rlak8n in th8 (x)urse of the audrt.. the infomiation givg) in the RetMXt of the Trust for Ihe finanryal year for whith t flnancLIl statements are wepared is cS151ent wth the ffinwcial statements., and the Report of the TDJstees has been prepared in a(¥xKdanco wilh applicab legal requirernents. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the IKJht ol the knovAedge and uThJerstanding of the Charitab u)mpany and its enwronmenl obtained in the course ol the audit. we have not entid tnaterial mi8Statements irh the Report of the Trustees. We have nothing to reFX)rt in respect ofthe folkming mattw5 where Companies Act 2006 requires us to retKJrt lo yoij if, in our opinion.. adequate acLOUntir rec£Jrds have nol been kept or returrts adequate for our audit have not been received from branches nol visited by us: or the finanaal statements are not in agreementvth the acCTrg recAYds and relums- or rt8in disdosurgs of tnJslee5' remUrer8b. speryfied by law are not rnadè., or we have nal received all thè information arKI explanations we require fat our audit.. or the trustees were not entitled to take adrdntage of the small companles exemptic from the requirement to prepare a strateg Report or in prepamg the Report of the Trustees. RESPONSIBILITIES OF TRUSTEES As explained more fulty in th8 Statement of TrUStS Responsibithtios. trustees (who are also the directors of the charitabje company for the Purposes of ccmpany law} are responslble for the preparalion of the financial statements and for beiThJ satisfied Ihat they gNe a true and fair view, and foT svch intemal Ctrol as the trustees determine is necessary to enable the preparation of finarbdal statements that are free from material misstatsmenl. whether due lo fraud or [T. In preparing the financial statements. the trustees are responsib fr)r assessing thè charitable Companls ability to conlirxje as a going rxjncem. disdosing. as applicable. matters related to gng rx)n¢em and uslng the going conrn basis of accounting unsS the trustees either inlend to liquldate the charitable company or lo cease operations. or have no realistic alternative but to do so. AUDifoR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about ther the financial stalemenls as a vhole are free from mater1 misstaternent. whethei due to fraud or ernr. and to issue a Report of the Independent Auditors that indudes our opinH)n. Reasonable assurance is a high level of assurance, but is not a ouarantee that an aud¢t coThgucted in accordance wth ISAS {UKI will aK¥ays detect a material mi5Statement when il exists. Mis51atemenis can arise from fra1 or error and are considered material if. indiwdually or in the aggregate. Ihey o)uld reasonabty be expected to influence the e¢x)nomic deu5ions of users taken on the basis of these financial ststements. 15
YATELEY INDUSnUES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORJS REPORT FOR THE YEAR ENDED 31 MARCH 2024 The engagement pather erTed ihal the engagement team (xillectNely h8d the appropriate competen, capabilities and skills to Klentify or rècA)gnise non-CX)rnpl1an wlh applicable laws and regulations. We identified the laws and wulalK)ns appli(xble to the cxMpany through discussions with directors and other management, ènd from our comrnerryal kno¥edge and experience ol the sector. We focused on specific 18ws arKI regulations we considered may have a direci tnaterial èffect on the Iinancial statements or the operations of the company. We assessed the exient of compliance with the laws and regulations identified above through making enquiries of rnanagement.. and identified laws and regulations were communicated wlhin th8 audit team regularly and the leam remained alert to instances of non-compliance throughout the a1t. We assessed the susceplibility of the cA)mpanYs finanual slatements io material misstalernent, including obtaining an understanding of how fraud might ctcur. by making enquiries ol rnanagemenl as to where they considered there was susceptibility lo fvaud, their knovAedge of actual, Suspected and alleged fraud,. and Considering the intemal contrc4s in Pl to mitigate risk5 of fraud and non- compliance with laws and regulations. To address the risk of fra throh management bias and overrKle of (knntrols. we performed analylic81 procedures to identify any unvsual oi unexpected relalM)nships, tested journal entries to identify unusual Ir3nsaclsons', asse&%ed whelh8r judgefflents and assumptions made in determining the accounting estimates were indicab.ve of potentsal bias., and invesl%Jated the rab'onale behind signlficant or unusu81 Iransadions. There are inherent limilabons in our audit procedures descxibed above. The more rernoved that laws and regulations are from finanaal IransaciKJns, the less likely il is that we would becorne awgre of non-compliance. Auditing standards also limit the audit procedures required to identify non- compliance with laws and regulations lo erUIry of Ihe directors and other management and the inspection of gulatOry and legal (Xyre¥ndeDCe, if any. Material misstatements that arise dLE to fraud can be harikr lo tect than those that arise from error s they may involve deliberate COnalmen1 Gollusion. A further description of our responsibilities for Ihe audit of the ftnancial statements is located on the Fin3nci81 Reporting Council's website al.. h uklaJ&"to This de5QriPtion forms part of our Auditor's Report. USE OFOUR REPORT This report is made sOty lo the charitable companls membèrs. as a b(Kty, in a(rdanC with Chapter 3 of Part 16 of the Companie5 Ad 2006. Our audit work has been undertaken so that we might state to the charitable eompanls members those matters we are required lo state to Ihem in an auditors. report and for no olher purpose. To the fullesl extent permitted by law. we do not accept or assume responsibility lo anyone other ihan the charitable c(Mnpany and the charttable cornpanls members as a body, for our audit vK)rk, for this report. or for the opinions we have formed. Paul ChÈtnbedain Isenior Statutory Auditor) foi and on behalf of Chamberfatns Staluw Auditors and Chartered Accounlants Elm House, Tanshire Park Shacklelord Road. EL8lead Gcxlalming Surrey GU8 6LB Oate.. 16-
STAIEMEI4TOFWIIP>JalLACrnPThE5 FOR ThEYEAR ENDED31hiARCH2424 INCOMEANOCII(KIWMENT5FROP Charitae acb OthertyadinE4CtrfftJ 781,914 187.902 94a74 17&116 4)1014 176.105 s151 IiU37 TOTALRICOME140 ENCXIWMEpirs i.WgD EyPEN0VREoN. RaiSirehAnds thatilaL4EaaMeS 2x701 ,138 IIL837 366Yi 2217 79115 157A TOTALE¥PENLfftJRE 111837 ¥4J879 1.1849S8 IIEfiNCOMElItXPENoifuRO 7J.725 725 2995 OIMÉR RECoGNISEDGNSI[LLW} uarial11055es118alTrs M Ed&Ent%erneS ILossesllrdinsonthe redu4tianorfrtdxts {73.L I.234> [792341 N¥fMoiEMEN¥W4FUNDS 30 IL08J9n (232) 178.5LVJI 223.232 EC0tATll0I HAOS Totsllund5biDuÈhif(rfwèrd TotslfuMts¢¥rfedfop•ard IM277 41426 4L194 J.no, L63l144 1.487.421 1,710,653 11.LWN301 The 5tBtEmertoffftono?14ctrkniMbJdes¥l8aThsatKlltsssesrtuerWlfflth•iYar. Al IncomeaDd exr(hr•ethES1r•nC0nOgactle5(202I.lIthltsTr. 17.
YATELEYIIIOU5TRIL5FOR THEOISABLEDIVrn{A(OWAlfl UkThDbY611AK4NTEEI DALANCEsHtASATMIPO1?O14 RXEDASSETS TèDslbSSets 3.507.118 3,507A18 3.619.361 3,619J61 CURRENT A$5ETS 5totk Debtot5 Cash3tb&nkd in 12 13 S3 92 4)1? 97.566 217,957 320.139 cREC•TOR&.AmJnts11ltho ¥Atkknon•yHr 14 1711121 (gB,7911 ETtlrIfiS5ElS 221.348 TOTAL A55Ef5lESSCURNENW u•BiufiES 3.914.1 OIEtMTo. th¢)unts11th¢•fterrnOrethf¥ 16 IL245.WI I85461 NET ASSET5EXLIUPING PE1151L¥I LiINLwrY 2.668.144 1916.653 Dlfined beIpr)nstherne bIlli¥ IL036K 11.276Xfj)I TOTAL NEfA55ET5 1.642.144 1.71Q6S3 FUND5OFThECTrA¢T AESfWtIEDCUNDS iINHESTRKtED FUI)S De5wled1Os.' 22 8qYuoTiaThrOr Oes¥natedfunds 2.LY)8511 SOiJ39 i.FANJ.3 I2.?68 Y)8.509 LM.177 UThiestrlctedBeneral lunrf£ TOTALUNRESTAKTEDFUNOS 23 IIJA)Y.43Q) i.W.950 1.669227 TOTALFUNOS 1.632.144 i.n0ffi3 The5eacCOuntsh beenpitred in acuKdanceTrJriththEspNprTk1shxrternaMcorts7thIThpIrtl$oItrc0rya1esE i( )Id In accorthtèwth I4¥[¢$FRs 102. rhesE10ts¥ieTaPYry authori5ed lori55Utthe Boètd( IdAJh MARKA IIEIIBLA(KLEY
YATELEY INDusfRIES FOR THE DISABLED UMITED IA COMPANY LIMITED BY GUARAPfftE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Net cash flowfrom operating aclivities 26 1101.0401 110,0671 Cash flows from investing activities Purchases of red assets 110,8701 11.9631 Net cash from Inve5tln8 artlvities 110,8701 11,9631 Cash from finandng act5vltles Repayment of borrowings Cash inflovrfs from new borrowin8 153,1501 350.(MJO 174.4601 Net cash from financing aciivities 296,850 174.4601 Net increase/ Idecreasel sn tash and tash etyrvalents 184,940 186.4901 Cash and cash equivalents * beginning of year 217,967 304.457 C45h afKI cash equivalents at end of year 402,907 217,967 Cash and cash equlvalents compr5se: Cash at bank and in hand Bank overdrafts 402,907 217,967 402.907 217,%7 19-
YATELEY INDLISTRIES FOR THE DIWLED UMITED IACOMPAMYUMITEO BYGUARAMfEEI P)TESTOTHE FINAFICiALSTATEMENTS FOR THE YEAR EKIEO 31 MARCH 2024 GENERAI INFORMAllOII Yateley Inthstriesfor the rIsabd Limited a tharitae compary. liffAted suarantee andwKLYporatedin Engsandand wae5. Its regi5teredoffice ts.. Mlll lane YateV H8mpshite GU467fF The11naal$reMents3re presenred in Sterng. whh tsthefuncthnal curreryofthe cTriy)y. and rnonetary amountsare rounded to1 rare5tU. 5fATEMENTOFKCQiIFmNG PQLKIES aslsol prat)nOfIln4n¢laI siat•wirts These finanrial stateThtnts have been prepared inacc0rdare th Accowtir¥aThJ Rep(rting Charle5.. Statementof R£xotnmended Prèthteappltsbleto¢hariiies prep¥lthey finarla1 stsrnets in accordance Wih the Fina[41 Rew>rringstsnd3rd app&"c3Ne in thèUK and ReputrAicof Irdaid IFRS 1021 -Chariiies 50RP IFRS 1021,. the FIrnCIal ReporriTr8Standard appkatle in the UKaTrY Republiiof ITdand IFR51021,' and thecompaThe5AC12. Yatekylndustries forthe Disled Limitsd meetsthe d£ritioThofa pubfK bLfftentlty underRIS 102. TheTrv5teES havecodered g(xngcmtem and arpoFthe upinw thattlr [harIty1¢onl1nUe tooperate ttyond 12 monttrts ofthese finantialst3tements 3pryD%td. TheTeeStheref0re con5k4eTthe g(xng concern ba$ to teapprowKate.11 rhe CCern basiswas Th)tapwoprklte, adIustTrtsW0U1d ha% to be madeto reOJcethevalue ofa5sets totheirreco¥eraE4e amounts, to prLy4wJe foradditional liaknlj IhatThightar4d $Sed3$SetsaSrnlasSets. Revenue reco8nhkn Incoming rÈsowces arethrived faup4•tseSofthetharity andare stated 0ftwleI5(Ots and VAT. Rents represent the rents phyèbleby thedisaNed tenanr&andi5 received MnlthEIrm0f usiry tsefits. Rental irK(xne als) recedfrOrn wrrfate tenart5. Income received brf wèy dOnat)s, legarie5.wfts &nd contributh?ns tLYrf4ard5 eMp¥T13ndredentyaI costs is indudedinthe Statet of financhil arti¥ie5 IntheyearirywhKh it is teteNatAe. GrantsreCeI¥ab areincluded inthpyear in which the olferi5 CL¥iveyed thaiityexcept¥n te£¥$e$ wheretheofferhasconditKns. such 8rant5 bein8 re<¢jISeda5 ir<ome vkn rhe i(NltKlll5IttathInS are fulfilled. GTaDts otttred sthject toton(lrf(w wh¢h t0)merartveerdarÈ not inclk4ed inthe rinar*olstsremertts. Charityshop Sa repre5entsthevalupoFdonatedgo(KJ5 iDthethaiity sIKty).
YATELEYINDUSTRIES FOA THE DI&4BLEDUMITED IACCthIPANY UMrrED BY GUARANTEE) NOTESTO THE FINANCiALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMEt4TOFACCOUNTING POLiaES- tOnmUed TanKlble Ilxed assets Fixed assets, other than land arKI Ik11n8% are at cost letsxtutNJlated deplatIonar1 acojtnulated irnparment losses. Larvj and bJSldin8s Sncludes the freehold fxtorywd bungalows which are carriedat their wevtspued amounts. belnRfair valueat rhedate of valuation 55SubseqUent delation and inyairtnent losses. Revaluations are perf(xmed by ProfesOnal qualrfled valuer5Wth 5urri(ient rewlarity toensure that rhe carrying arnounts do not differ materially from tse that %Yould be deterniined Ltsing lalrva1S atthe end oleath reporting period. Any accumulated deweciation at the dateof revaluatH)n is diminated aEainsr rhe gr055 carrying amount5 of thea55et and the netarTKunt Is restated to ihe reval1 arnot0f the a55et. ny revaluati¢n increase andlor decreasein thecarryingarrountof freehold property is recoEnised in ihe statement of financial arti?lie$and included irb a revaluation reserve in equity, extrpt to the extent that it reverses a revaluation decTe35e ofthe 5atne asstt prewousfy rec(nised in wofit and105s. in which case t irKrease is credited to wofit and lossto theextent of the deuease preoU4¥evnth. Duetothe nature of the propertythe reVaItIon reser¥E [5 induded withinthe desnated fL)d5. Depreciati has been prowtded ai the fo10n rate5 50 asto writei)ff thè o)st orvaluation of the asset le5S their residual dIue overtheirestimated uselul lives.. Freehold factory premise5 Freehold bungalows Fartory eqUipTrt and rrK)tor vehides Re5taurantfurniture and equipment FMture5 and fitlngs Charity strwjp fvrniture equpment 1% straight linÈ basTS perannun) 1% 51raight line bas$ perannum Four to evdht years straight lire ba515 Four to eightyears straight line ba515 IO%reduun8 balame basi5 Per annum Fourto eightyear5 Straight line basis On disposal, the difference between the netdi5Fxksal e5 and the (arry8110171 oFthe itern 5Qtd 15 recognised in the wofitand Ios5 acwunt. and induded wIt"n qovemance ¢os¢s_ JI fixed a5setadditlOn5 pur£ha5ed for corrtimun8 usewithin ihe charity are capitslised. Leases Rentals apF4icaFJetooperatiry leases where sub5tantiallyallof risks of ownerthip remain with the le550rare ¢7r8ed against profit on a straight line basis over the lease temi. Payrrents received uThler opEratin8 lea5e5 are recognised a5 Tncon* ¥the lease term on a Straight line ba5i5. -21-
YATELEY INDUSTrIESFOR THE DISABLEDUMfiED IACLWPANY LIMffED BY GUARANTEEI NQTESTO THE FINANCiALSTATEMENTS FOR ThEYEAR ENDED 31 MARCH 2024 STATEME1 OFACCOUNnNG PouaES-aed Stodt Stod( ha5 been valued at rhe lower of uhstand estimated sdling less costto tplete andsdl. aler making due allowance for ¢knolete and slow-mo¥ing items. Cost comprises the cosr ofgwds purchased valued on a Standard cost bas. Debtots Short term debtors are me3sured attransxuoD price, Ssralrre Credi1tr5 Short temi tradeueditors are measured atthe N$•£bon pri. orher finanual liabilit. dUd4& bank loarts. are measured initially atfair YUe. net of transaaion costs. and 5ub5equently at amortised cosr. Taxatlon The charitatde statusof the organisation ha5 been confimed and the companyi5 notliableto (x)rporation tax on its surplusor Bains to the extent that they ¥e apr4dfortharitable puqKsse5. F3¢131 instruffnts Thecompany onty enters intrj basicffinan(ial ir&trument5transacbOllS that resutt in the recogntDon offinantsal 15sets and liabilitie5 Ilke tradeand other accounts rVaNe and payable, h)ans bankswd othprthird parties,103ns to related parties and investrTrpnts in mn.puttaNe ordinary shares. Finanaal a$5et5 are rnea5urÈd at costand are assessed ai the erid of Èath report6 perfod for objective eyidentr of Impairment Where objertNe edere ofinwairment is found, an impaiment loss is recogni5ed in profit and loss. The impairment loss for financial assets measured at cost ismeasured as the thfferen between an asset's tarwn8 amount aryd the best estimate. which i5an approximabon, of the OUTht the compaTry woukj recelve for the asset Ef it wereto be 5dd at the reportinB date. Finanryal a55ets and liabrfities are oflset and the net amountrepDrted in the balarfe sheet when there 15 ari enforceable riÉht to set off the recognised amount and there 15 an intention to seirleon a net ba515 Qrto realise the asset and settthe liatxlity SIManeOusl. Loancommitrnents entered into try the c(wnparryare Measu atcost. less any IPaIrent.
YATELEYINDUSTRIES FOR THE DISABLED UMifEDIACCthqPANY UMrrED BY IWARApifEEI NOTESTO THE FINANCLALsfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMEKf OFACCOVNnNG pouaES. Conthued Borrow1£0#5 AJI borrowr¥ costs aTe rErIsed in profftor1055 the ped in which tlyareirKurred. Pertsiohfund rangements The mostlecent ettim3t¥3IU0riOOfjthe 5(herneYATr5 underkken by Btoad5tone Conwltarrts aNI Athiarfes Limited * at 31 Marth 2024 and has rewted a net defiot of £1,036,tKil. The nv)¥ementin the year has been recognised within other compreherfjwe income in theststemwtof finartoal acti¥ities. In addition to theabove. the c(Thpany a150 opera5 a defined contribuoon penSn stheme under auti enrolment rule5. The amount IhaTged tothe pmfft and k)ssaccount in re5PECtof pension 105ts and othw ptsst- reltrement benefits is the amount payalAe in theyear. Differences betWeenntrIbutIonS payable and contributlon actually pai11 in the aare shown aseithet a{cnlS orprepaymentsin thebalance sheet. Resource5 expended Al expenditure is included on an accrua basis and is re¢o8nised when there is a legal orcon5truthve obligation t¢ payfor such expenditwe. Resourte5 areexpended inthe ftraceof the£hariWs objectives. General owhead costsareapwrtionèd the typE ofexpEn5e thE TW$t apwopriate wav according thethe varioustost certtres. Fund artounti Fwd5 hdd bythe chartty are.. Unre5tri¢ted 8eneralfvnds- theseare lundswhithcan be used in accdl the thariiable obp(ts at the discrebon of the directorsltrustees. Desiated lunds- these are fvnds thatare Set asidE bythe directorshru5tees tyjtof unrestricted 8eneTaJ fur$ for specifi£ futUTÈ purrK>ses ¢x pfoiÈcts. Re5trirted f¥nd5- Restricted fd5 receNed areto be used forspe¢ffically Dcninated e¥peIlure by the donor and are credited to irfome in rhe ye¥ in twhich they are ret¥ved. Where amounts are not speofically allor4ted against expendrture in thai year the balan is deferred and added to the balance brought forw¥d on the restrict fvnd5 and i4 used in 5ubsequentyears in line wtth the restrKiion5 Ced by1 donor. -23-
YATELEY INDUSTRIÉSFOR THE OABlE0 LIMED IACOMPANY UMITED BY GUAWITEEI NOTESTO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 CR1TKALACCOUNTII ESnWITESAIIDJUDGEMENTS No 51Enif(canraccwntire estimates andjudgements had to be made bythe director5 in preparingthese linancial statements. STAFFC05TS 2024 2023 Number mbEr Average number ofperswsemplr4rd by thecompany. including directors. during the year.. Pr¢xluttlon sa9 and d15rributK)n AdmIntratI and man38emert 59 62 io 71 72 Z024 2023 stsff ClFsts incurreddwigthe year in respect of theseernpknyeesre: WaEes and SaLAr5 Employers Nl Pension costs 746.101 774 5,475 636,214 14.302 4.096 770,350 654.612 Operiry c05t5 oldefined benefrt penyon xhemes are distltised Én Nore 20. One employee received ernolents exceeding £.(l2025.. emdumwts of O membEr5 of staff wlthin the range of EflJ.CUI. £69,999) not irlUding retirement benefits. The kty managemen¢ K*rsonnel ofthe£haritycomprise the tnstees the thief Executive OffKer. Thp total remuneration of key managefflent perSre1 ringthe yearwas E74.03612023.. E49.14QI. Duringthe yeai. none of the trustees h3ve been remerated via the chariW5 pWI he and rKJ twstee5' Èxpens accurred. -24-
YATELEY INDUSTRIE5 FOR THE DISABLED IIMITEO IA COMPANY LIMtrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARABlE AcnviTIES 2024 2023 Rent and charges receivable 281,188 235.079 Charges raised against local authorities.. Bracknell Town Council Wokingham Borough C(KJntil Hampshire County Council 5omerset County Council Nurth yorkshi County Council 32,159 9.041 145,751 13.272 19,173 29.673 20.957 154,731 14,585 17.970 TESGI Access to Work grants receivable 291,864 308.919 792,448 781,914 INCOME FROM OTHER TRADING AcfivmES 2024 2023 Workshop Charity shop Community paniry Community hub Café 141,059 6.088 23,279 3,784 1,895 138,166 29,505 20.231 176,105 187.902 INCOME FROM DONATIONSAND LEGACIES 2024 2023 Fundraising Community Pantry Cafe 5LK),912 12,024 915 58,766 37,608 513,851 96,374 -2S-
VATELEYIIIOV51WE5FQR 7[51ED(wrw1A(O¥A•1DWl1[E4 IORIHEVE4REMLWI1WC ID14 7QW) 47M 135P 19.857 2?.n6 1976 S11¢$¢$ 17 4Q.459 023 41J26 S*r4es As25513 371 42.76Y J1336 X&451 564514 43.767 73Jl8 5V7D 2]A pwrtc p$tya Tal Illai 4>¥JG 479JJ IAJ TOT is
YATELEY IIIDUSTRIE5 FOR THE DLE0 UPAWTEDIACOMPANYIIP•TED BY GUAR114TEEI ITESTOTHE FINANC14L STATEK14TS FIXITHE YEAR ENDED 31 MARry 2024 12 2024 2023 Réw materials s( 5.0)3 DEBTORS 20Z3 Tr debtws Other deblOYS Prepayments ara[c irKomE 33.531 36.593 31.418 53.924 12.224 70,892 97.566 ank)unts induda4 abareree1thmOnEV{rfthe balaresheetdats. CREDITC&' anvJuntsfalw%dueth otyeyear 2024 2023 B8nks In$and owdrafts Trade creditors raxation arnj 50ual setwity Accwah anddeferred irKame 25.941 37,118 3,199 32,533 27,699 9.573 34040 72.112 98,791 Included wthintraje creditoare whh ttoy b&1 swdretention oftitlecLwse5. 15 DEFERREO INCOME Included in accruals anddefeed YKLwDelN(2 141 defeJrEd ie0f £2.70I12023- £2.1391. Defer income relate5 to arnounts recew8J inatharKein re5pertofrectyvab leasesandgrn)rs Ial authOnt5. BalaDcea5 af i April 2023 1139 AmOUntrea$£d to ir*orrMng resourfrOmgerraIedful¥J5 Arnountdeferred iThyear 12,1391 1701 alanceas at 31 March2024 2,701
YATELEYINDUSTRIES FOR TME DISABiED UMITED IACOMPANY UMrrED 8Y GUAPA14TEEI NOTES TO THe FINANONI STATEMENT5 FOR YEAR ENC0 31 MARCH 2024 16 CREDITORS.. fall8e afterrn(Ke than oneyear 2024 2023 Loans and overdrafts 1.245.%4 854.056 1,245.964 854,056 charity has a loan agreemerrt with Ae¢)nian Fourmlaikpn of £1500.W)of which £1.245,964 ha5 Len drawn down. The loan agreement is overa 15 year erd and carrie5 an annual intetrate ol 1.0% above the nkOf England's Bank Rate. At 31 March 2024, the outstanding loan balantt was É1.245.W12023- E879.997 with Reliantr Bank which wa5 repaid in the yearl. Included in the amounts fallirE due aftv rrKxethafi eYear are the fdl)w*ig wnounts wl¥th are due in more than five years.. 1024 2013 Loans and over<kafts 1.245.964 727.811 Analygsof creditlys fallinB due after more thall five yeats.. 124 2023 Aggrepte of instalments which fall due forrepaymwt afterfNe yeats.. Loèns and overdrafts 1,245, 727.811 17 SECURED DEBTS The k)ans and overdrafts, totallirv4 El.245.96412023- £879.9971. are $vred by a fir5tchw overthe entlty's freehrdd property. which has a carwngvalue of E3.480.753. -29-
YATEIEY INDU5TRIESFOR THEDMIPTED (ACOMPNNYllk•TEDBYGUMANTEEI NOTESTO ThÉF114ANCIALSTATEMÉ14TS FORIHEYEAR EIIDED 31 MUi(H 2024 OPERATINGiEA5E5 xzJ Exwrfrw In le55than in twottslNeye3 Exprlrgin rnNethJn tl¥ewJrs ioAfy) 21A 19 ItECEIVABiEiEASES ThereareatD)unts¢ecd¥èblefrthn èthJwiv•tt•w)tsknthefweÈ woptslld tylhe (hèDty. ThÈtot4lolfvtvre mhilnXJmpWrf5 tortheseare£>)9.187 rney. Therearenoarnount5reteNable rer0r. PENSK)N CfA4MfrMENTS ThE èPEn5VJD i5 fin71 pay.wlthi5 dosed to lurtherrms50ncaniribI0n$. but lI1(ontinlow1PWslQeBbkl1knW 5Trthesthwhe. The 255ets otthe 5theme are eldSeparatY frornrkneofthe £rthp.ngWd bYD3lri)la Trustee& bmitedastk penonS(hemetn15eeS.DF1ad3Entsthted ¥Jere¥prAntedaSthepaiCn heme truSleesQ 29 2Q13.A5thvgJpp(Ytin5ew.thP1Th?yffiakeSnts tDthe5theme wtrerenete55Wyto In the fwi ThE maStre(fnt yul¢lL wa5pwloYmed foT ihE yEarEtthd 31 Matth 2024. nm5va1L4bha5tQrnTr that therewasa net pldefr at 31 March 2024 ol£lX136XK). The defthf(theyear)Jed 31 k4ar¢h2023wa5 £1.276.I.The emtIn trVearha$be ree1 5nthestateDiert clfirwKTal The£rthVarnIktsconlTSJ¢1s defined ¢tril5th¢MÈv1ith psT1Me[irIUWroItyhI te5poThLi1itS.CtubO5 Yable iraTthat&ed io wufrtandlu55aCtwnts. At theeJf rhe1. a anCe01£2.0s4Wlse1ot¢schnP_ PRlllclPcIvAu%5t1MPTlOrtS 475% LOSX Revèluationindeftfm* pen0 intr RP113) pen0 In[rSeSlXfd 3 3n5% 3XnX Mortalty". S3PXA 2022105%1 S3PXA QAI 202110.S%1 AN¢( ynw¢p•nents Plent¥alorder1nPd Falrv¥ueof p&Trxsets i.8s1.N> 181S.QL¥JI L775,1K#) {499.OWI Netdned lthikty 1.036.1MM) 1.27&L
YATELEY INC41STrIESFOR THEDIUthLEDUk•TED(ACOMPWILMTEDaY6UAk4MTEEI )TESTOTHE HMANCLILSTATEI4EMTS FOR1HEYEAR EFI(0 3LfMKH 20Z 2D Ewit5 rash 615m Tot ets 8151YXI AMQU141$cOfy1Eo IIITSTATE10F FIIIAMC14LAcfMnES ÉxpEnse5wid ios.( iè).coJ iereston netILibitY 52.r s2.(7 45A retwn iS55k55 yiltiest Expenencelosse&onIiaIt hangtlnaSSlr (24.(U)I 14.( 173.LUI 339,L HAf(6ESIN FAIRVAWEQF PLAIffjM55ET5 Openinglavalue of rAènassols EM0r0nt1knUcS etrteflts pall penses IDtEre5t [Lye 53).(YAI I.( I48) 470.r 3lO)O iu.(w} IS.0 (HAN6ESIN PAtSE14TVAUEOF oeRIKAT¢ATr0H 1.775. 83.rni kiteresi cost Beft¢frts pawj RerDea8urErDertl¥iiD5VbJ55e5oDdEthtYd bETObbEt 148.rmi 1327.0 49.CO) 1ts51.LK¥) i.rnx -31-
YATELEYINDVSIWFOR THEDILÉOI1rn IACOMPA•IYiMnED BYK4nÉEl NOIESTOTHE FINANCL4ISTAIEMENf5 FOR THEYEARENDED 31 MARCH 2024 RESTftrED FUIIDS 2024 At l April 2023 Char8e5 alkcated 41.426 41h58 12a21 At 31 M¥ch 2024 41.1 41.426 Restricted itKometunds con5i5tof the sUru5 oFdorwtW5 iecethdtOWard5the wr<hèse olnew ant andequipment ande¥itre1freEtrd inwrtrffionts kssrhe nUal tha[Befordeprjatlth) til E5peCt of thoseassetswchased. 22 SIN4ATW FVF405 Balance 31Marth 24 REVAWAMON RESERVE Fieehdd faciory yemi5es Fieehdd bureahiw5 393.852 1%.916 22W.768 270,740 1372.%71 664592 1.433,949 4tFJ8,541 DÉ516WATets PUWDS FrEEhcdd farttry premise5 Freehold I.630 403.V9 IL4791 103,151 398,688 501J39 TOYALDESWIATED FU140S 2.7(lJ.277 IILK8971 2.fth.380 QeSignated funds cony51 oFtheinitialgrft af thÈ land tothe chality, tosetherith SubEntèdrtUretsnthe tonstruttioty eXtsnS)n and subsequ1 rnod@rn&ition DfthefaLtotyafyJ The desiated funds are anx¥twd thedÈwetiètion pofKyanathin8tothe ossetthry werevsÈd for. ThÈfrÈÈhold piopertywas IndependeDitye on I911Dbr10II 16 May2019 and L3Sep¥ernter2023 with the ireaSelf1 value attDbJiedtoa rEvaluation rtSel¥t inthede&aledlnd$. UNRE5TncfED GENÉPJIFUM)S zs At IApril 2023 gJrolu5 01 incomeoverexpEnditurptrthÈyta ILWX)50) 30,620 11293,sni 253.523 At31 Marth 2024 11.C(14,43 Iiw,osoi
YATELEY IIJDLISTRIESFOR DIWLED UMifED IACthIPAF4YLIMrrED BYGvwJir NOTES TOTHEHM4NCiALSTATEMENrs FOR THEYUR Ef4)EO 31 MARCA 2024 APIALY%SOF Err$oErwEEN FiW4DS Fund balance5 at 31 Marth ZU24 rewesenied Total fut Fixed a5sers Current a55ets Current I11£5 abilibesdue aftermorethan we year 41.194 3507,418 478W2 47)2 172.1121 P281.Wl 12281,Wl IIXK6.430) 4L194 1,632,144 srATEhfNfoFFif4ANCiAiACWM11E>OYaPJJIATIVEAGiME$8YFuIlYPf Total firt5 Z023 frJnd5 INCOMEAKJ ElOWFITS FRCU: 781.914 181.9)2 .374 781.914 187,9)2 9Q374 Ot[ tralin8 acti¥e5 DotK)nS and lewes TOTAL IfKoMEAO ENtWJWMEI4TS i.(wi 1ffi6.19) EXPE11TuRE ON: 224.705 792,253 165.IXTh) Charitable Defined benefitschemes 792.253 1651 TOTAL EXPENlURE L18L9S8 1,181,958 NET1NCCl(EMpENOrru[(i 1115.7681 1115.7681 Realocaifjon ofdepreclatlon dwrye5 betweeTrfunds
).291 OTHER RECOGN15ED IiOSSES1 Actuarial k)55eson defined benefit pl5 339.lJXJ 3391 NETMOVEMENTINFUNDS 253,523 130,0591 223.232 Totsi fvnthat l April 2022 11293,5731 1.739,3* 41.658 1.487.421 Totsl ndS11 31 Marth 1013 2.AYI.277 41.426 1,710,653
YATEIEY IIIDV5TrESFOR THE D IWWIÉO IACOMPApIYLMifED8YIIlIInl NOTES TOIHE Ff4ANCLALSTAIEMEpirs FOR ThE YEAIt ENDED 31 MARCH ZOZ4 RECON[110N OF TIlOE/{ExPENDIriX1E1TOmE1 CNSH FLOWFROMOPERATr46Acriwrns 2024 2023 Net inccffiellexptYrElfQrl)Y3r 73.725 1115.7681 Adster'. Deprecktlon Interest 43,579 73218 1313.oml {39n 26,674 I439) 44,615 Net exThse 1lnciea5elldecrease insto¢ks Ilnciea5ellthcrea5e in debtDIS Inc3$e/ Idecreasel incrediwrs 45,L 140.3171 5,916 IID.0671 AIY5ts0F CHA14GES 1414EfoEBT i ))2Y C45hlh)ws At31 March Z024 Cathar usheqW•1ert$ C4sh 217.967 2L7.967 iU.940 184,940 402.3 402,W7 Debt within (MVtar Dèbt aftÉr oneTrt I.941) 1854.0561 1879.9971 14.42a 11.518 180.6351 IL245.WI (1.245.) I,850? 1662,0 169,U71 1143,0571 REiATED PNJtThTRrll<wS ThE((wn¥ IimitÈd tywarantseaaC¢OrQ7n8Ivthere no{Wln¥ Party0ftt(mmPary. ThÉrew@re tKTrtralSaCtiUISWith reLited partie5durirytheyear. Notru5reear otherP¥5(Mited tothe cha¢ltyhaJ ary Fer5 ir4ere5t trw5a¢tio entertd ititotrlthe charr(ydurir¥theyear. NArKWCOMMrrMEIItS The cPklrityhasa han agrewrhpnr %ith Aethan FthkndaiimoI£I245.964. 15 carrie5 an amual Interest rate of L.(N the Bank'5 Stedini Buslness Rèie. The CC¢DparbYQPWatEd a bentfftsbed on FeN¥paY.TheSSetSOf hemeare hddseparatdyfiom te0the company. irhve51ed byDalnadaTThsteE5Lirnited as pension Stheme trustees. The late51¥aluaboi coted 31 Maich 24haSTe[rt adefitTt ot£l.036,iXJOwhKhha5been r08[seIntattot%.AstrspSOnefikn, Yat¥ey Indlj5trfl Oisabled Limited 1knie rocovu IhedefKltoTr tspÈn5ionfund. The Trnsteesto ihe 5tt*, Dalri3da. ha¥e #red anaffOrdab t0Verya)fulhe sthe