COMPANY REGISTRATION NUMBER: 1971731 CHARITY REGISTRATION NUMBER: 293417 Hartcliffe & Withywood Ventures Company Limited by Guarantee Financial Statements 31 July 2024 HARLT N BAKER LTD Chartered Accountanls & statutory audilor 61 Macrae Road. Ham Green, Bristol BS20 ODD
Hartcliffe & Withywood Ventures Company Limited by Guarantee Financial Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the directors. report} Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 14 15 16 Notes to the financial statements 17
Hartcliffe & Withywood Ventures Company Limlted by Guarantee Trusiees, Annual Report {Incorporaling the Directors, Report) Year ended 31 July 2024 Page 1 The directors, who are also the directors lor the purposes of colnpany law, present their report and the financial statements of the charity for the year ended 31 July 2024. Reference and admlnlstratlve detalls Registored charity name Hartcliffe & Wilhywotxl Ventures Charity registratSon number 293417 Company regislratlon number 1971731 Principal office and registered The Gatehouse Centre off ice Hareclive Road Hartclitfe Bristol BS13 9JN The dlrectors C Clements H Holland M T Owens T Ansley D Portingale A Retter J Watts Cway IResigned 7 November 20231 IResigned 11 June 20241 Company secretary J Thomas Auditor Charllon Baker IBristol) Ltd Chartered Accounlanls & slatulory auditor 61 Macrae Road, Ham Green, Bris101 BS20 ODD Bankers Barclays Bank PIC PO Box 324 Park House Newbrick Road Stoke Giltord Bristol BS34 8ZJ Strategi¢ directors Amanda Brewer & Llsa Mundy
Page 2 Hartcliffe & Withywood Ventures Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Directors. Report) (eoniinuJ Year ended 31 July 2024 Structure, governance and management Hartcliffe and Withywood Ventures is a Charty registered under a scheme with the Charity Commission, governed by the Charities Act 2011, and is incorporated as a company limited by guarantee. The constitutional documents are the memorandum and articles of association. The Trustees ol the Charity are also Directors ol the Company. They are drawn mainly from users ol our services and local people in business, polllics and likeminded agencies. Residents living in the area ol benefit are particularly welcomed. We monitor the make-up of the Board in terms ol age, elhnicily. gender and disability and take action where there are gaps. The full Board ol Trustees meets al least six limes a year. There is clear and agreed delegation of the day lo day running ol the organisalion with Strategic Directors also attending Board Meetings. The Trustees confirm that they have referred to the guidance contained in the Chanty Commission's general guidance on public benelit when reviewing the Trust's aims and objectives and in setting the grant making policy for the year. There is clear public benefit as the charity assists people in a disadvantaged area ol Bristol lo gain and develop skills, qualifications and employment. Risk management Risk assessment is carried out annually as part of the business planning and self assessment processes. Actions are identified lo mitigate risks where possible. The key risks identified this year have been the planned withdrawal ol the long term tenant al our salelile business unil site - The Lamp, and the impact on in¢orrie. and the ongoing costs ol employment wth national minimum wage increases to manage. These risks have been mitigated wlh reconfiguration and increased occupancy of rentable spaces al our main sile - the Gatehouse Centre in the short-term and careful ongoing management of employment costs and stalling.
Page 3 Hartcliffe & Withywood Ventures Company Limiled by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) (conttnu•d) Year ended 31 July 2024 Objectives and activities The charitable objects lor which the company is established are stated in the memorandum of association. The objects continue lo be lo increase the choices and opportunities available lo people in Ihe BS13 area of Bristol so that they have a better standard of living and hlgher quality of life. The main objectives for the year were.. To continue lo work lo reduce barriers to accessing, remaining in and progressing in care, education, learning and employment for children, young people and adults. To further develop provision ol learning and qualifications in response to local needs. With a continued focus on the emotional health, well being and support to IcKal people during the oNJoing cost ol living crisis. To further develop partnerships with other community & learnin9 organisations, support agencies and businesses lo benefit the local community. Our Slralegies lor achieving Ihese objectives were as follows- For our Colnmunity Development worker to continue lo work with other lo¢al agencies in events and initiatives locally. To retain our contracts with the City 018rislol College lo provide qualifications lo adult learners and young learners adjusting our offer to meet needs and interesls and engage and progress learners in their learning and employment aspirations To relain the Matrix auality and Bristol Standard quality marks. To build Ihe capacity of local people through volunteer placements and access lo experience training and qualifications. To retain the contract with Biislol City Council lo deliver the Nursery EdLKalion Grant for 2 and 3 year olds and prepare for the extended Nursery Education Grant otter. Look at opportunities for new ways lo work with and support local people who are isolated disengaged and in need.
Page 4 Hartcllffe & Withywood Ventures Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (¢onlind) Year ended 31 July 2024 Aehievements and performance We continue lo sub-conlracl the majorlty of our training provision wlh the City of Bristol College. We work wlh significant numbers ol young people 45 in Ihls year alone, with around 20°/. hang a high level of need and significant barriers to educatlon and employment. We have worked wlh 148 adult learners in year again with a significant number needing additiona5 learning support lo achieve their goals. Exam performance and qualification achievement lor the year has been good with success rates ol 840/0 in youth and 820/0 in Adults. We have a150 been re-awarded our Matrix standard quality mark. We continue lo delNer the Nursery Education Grant provision with Bristol City Council funding and prwale Nursery spaces. The Nursery has achieved full occupancy this year with over 100 children on register. We remain good raling with OFSTED and have been re-awarded The Bristol Standard qtsality mark. Our community spaces have been well used this year and room bookings and spaces lor Businesses and other agencies to rent have been increased to full capacity. Our Community Development Worker has Continued to build partnerships wilh other agencies such as DWP, Family Hub, Job Centre, Brave a Bold, Caring in Bristol and Ways2Work and has set up new inilialives including offering community winter warmer drop in setvice, pop up clothing events tor local families and securing lottery funding lor a Charity shop project at The Gatehouse Cenlre. Flnanclal revlew Our main sources of funding are- Contracts for delivery ol training & qualifications, City of Bristol College.- Bristol City Council. Private Nursery lees and the Nursery Education Grant Rental income from letting space at the Gatehouse and the LAMP. Income from the Calé, room bookings and bLfftets. These funds have supported the charitable objectives through Ihe employment of staff who: Keep the premises clean, welcoming and well maintained. Run the café as a 'hub' lor local people to congregate and eaV50cialise. Deliver advice and guidance. training, support and assessment to people wanting to upgrade their skills and knowledge, gain qualifications and work experience and ultimately become employed. Care for and educate young chiklren whilst enabling their parents to train or work.
Hartcliffe & Withywood Venlures Company Limiled by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (¢oniinu8d) Year ended 31 July 2024 Page 5 Flnanclal review fconlinued) The Future The economic environment is dillicull and promises to remain $0. We continue to provide the majority of our training through contracts wllh City of Bristol College. However 23124 has seen the introduction of some smaller aliemalive funding pots to add breadth volume lo the services we currently oller. This is a strategy Ihat will continue for 24125 with partnerships developing with of key organisatK)ns and lunding bids submitted to further increase education services locally. The Gatehouse Centre ha5 had some substantlal repairs and general malntenance this year and this will also be a continuing plan for 24125 to ensure the full potential of the building is utilised in lulfilling our aims and sustaining the future of the organisation. The LAMP satellite location is now in the main vacant apart Irom one small business. HWV have been reviewing il's potential uses and the status ol the Lamp Lease before agreeing a plan lor its. future. Gatehouse Nursery is now Operatng yearly at full Capacity and whilst there are no plans lor expansion in the coming year we are continuously monitoring the financial implications of Government policy and cal authority agenda. We rely heavily on City ol Bristol College & Bristol City Council lor the majority of our income but we see no reason lo doubl that either will continue to work with us. However, increasing employment and statting cosl, driven by Government policy and contractllunding levels that do not malch these rising costs, will be a cause lor concern if trends continue lo follow current direction. Reserves policy The directors and trustees of the charhy have established a policy whereby the target free reserves lunder normal condilionsl should be four months, anticipated expenditure in the following financial year. We consider Ihat this will give the charty sufficient unreslricled funds lo continue current activities in the event ol a significant reduction in funding and lo ensure sufficient funding is available lo cash flow the training contracts and lo respond to emergencies and opportunities i.e. iepairslmaintenance lo the building or funding a bid which could bring further opportunities. The charity's free reseNes at the end ol Ihe financial year have been calculated al £753,317 compared with a largel figure of £430,102, resulting in an excess of £323,215. In the current economic environment this excess is considered prudent in view ot the increased uncertainties over lutUTe income streams. However, this will be kept under regular review and wll be partly utilised by further premises maintenance and relurbishmenl expendllure. We have already planned expenditure for 24125 on Maintenance & repairs of approx £50,000.
Hartcliffe & Withywood Ventures Company Limited by Guarantee Trustees, Annual Report (Incorporaiing the Dlrectors, Report) [n11nued? Year ended 31 July 2024 Page 6 Trustees. responslbilities slatement The Iruslees, who are also directors for the purposes of company law, are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Ac¢epled Accounting Practicel. Company law requires the charity trustees to prepare linancial statements lor each year which give a true and lair view ol the state of affairs of the charitable company and the incoming resources and application ol resources. including the income and expenditure. lor that period. In preparing these financial slatemenls, the trustees are required lo.. select suitable accounting policies and then apply them consislenuy; obseNe the methods and principles in the applicable Charities SORP- make judgments and accounting estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the eharity will continue in business. The Iruslees are responsible for keeping adequate accounting records that are suflicient lo 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 Companies Act 2006. They are also responsible lor safeguarding the assets of the charity and hence lor taking reasonable steps lor the prevention and detection ol fraud and other irregularities. Auditor Each ol the persons who is a director at the date of awjioval of this report confirms that: so far as they are aware. there is no relevant audit information ol which the charity's auditor is unaware., and they have laken all steps that they ought lo have taken as a director to make themselves aware ol any relevant audit inlormalion and to establish that the charty's auditor is aware of Ihal information. The auditor is deemed lo have been re-appointed in a¢¢ordance wlth section 487 of the Companies Act 2006. Small company provisions This Teport has been prepared in accordance wilh Ihe provisions applicable to companies enlilled to the small companies exemption.
Hartcliffe & Withywood Ventures Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (conthw Year ended 31 July 2024 Page 7 The trustees, annual report (incorporating the directors, report) was approved on 11 March 2025 and signed on beham of th board of Iruslees by.. T Anstey Director
Page 8 Hartclilfe & Withywood Ventures Company Limited by Guarantee Independent Auditor's Report io the Members ol Hartcliffe & Withywood Ventures Year ended 31 July 2024 Opinion We have audited Ihe financial slalements of Hartcliffe & Withywood Vgntures Ilhe 'charilll lor the year ended 31 July2024 which comprise the statement of financial activities (including income and expenditure account), slatement ol financial position, statement of cash flows and the relaleol notes, including a summary ol significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic ol trelar Iunited Kingdom Generally Accepted Accounting Pracli¢el- In our opinion the financial statements: give a Irue and fair view of the slate of the charitys affairs as at 31 July 2024 and of its incoming resources and appSicalion ol resources, including ils income and expenditure, lor the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accoltnting Practi. have been prepared in accordance with the requirements ol the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Slandards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audil ol the financial statements section ol our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FHC'S Ethical Standard, and we have lullilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis lor our opinion. Conclusions relatlng to going concern In auditing the financial slatemenls. we have concluded that the directors. use of the going concern basis ol accounting in the preparalion ol the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signilicanl doubl on the chariVs ability to ¢onlinue as a going concern lor a pe¥iod ol at least twelve months from when the financial statements are authorised for issue. Our responsibililies and the responsibilities of the directors wllh respect to going concern are described in the relevant sections of this report.
Page 9 Hartcliffe & Wilhywood Ventures Company Limited by Guarantee Independent Auditor's Report to the Members of Hartcliffe & Withywood Ventures (contlnued) Year ended 31 July 2024 Other inlormation The other intormation comprises the informatlon included in the annual reF)Ort. other than the financial statements and our audilorfs report thereon. The directors are responsible lor the olher information. Our opinion on ihe financial slatemenls does not cover the other inforrnalion and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit ol the financial slatemenls, our responsibility is to read the other informalion and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise appears lo be materially misslaled. 11 we identify such material inconsistencies or apparent material misstalements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement ol the other information. It. based on the work we have performed, we conclude thal there is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in thi5 regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of Ihe audll.. the information given in the directors, rewrt for the Ilnancial year lor which ihe financial statements are prepared is consistent with the Ilnanclal slalements., and the dire¢tors' report has been prepared in accordance wllh applicable legal requirements. Matters on which we are requlred to rnport by exception In the light of the knowledge and underslanding of the charity and ils environment obtsined in Ihe course of the audit, we have not identified malerlal misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you il, in our opinion.. adequate accounting records have not been kept, or returns adequate lor our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of directors, remuneralion specified by law are not made- or we have not received all the inlormalion and explanations we require for our audit., or the directors were not entitled lo prepare the financial statements in accordance with the small companies regime and take advantage ol the srnall companies. exemptions in preparing the directors, report and from the requirement lo prepare a strategic report.
Page 10 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Auditor's Report to the Members of Hartcliffe & Withywood Ventures {continuedJ Year ended 31 July 2024 Responsibilities of dlre¢lors As explained more fully in the directors, responsibilities slatement, the directors (who are also the directors for the purposes of company lawl are responsible lor the preparation ol the financial statements and for being satisfied that they give a true and lair view, and for such internal control as the directors determine is necessary lo enable the preparation ol financial stalernents that are free trom material misstalement, whether due to fraud or error. In preparing the financial statements, the directors are responsibk lor assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the directors either intend lo liquidate the charity or lo cease operations, or have no realistic alternalive but to do so.
Page 11 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Audltor's Report to the Members of Hartcliffe & Wilhywood Ventures (conlinued) Year ended 31 July 2024 Auditor's responslbllltles for the audlt of the Ilnanclal ststements Our objectives are lo obtain rgasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report thal includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee thal an aLJdil Conducted in accordance with ISAS IUKI will always detect a material misslatemenl when il exists. Misslalements can arise from fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken o the basis ol these financial slatemenls. Irregularilies, including fraud, are instances ol non-compliance with laws and regulations. We design procedures in line wilh our responsibilities, outlined above, to detect material misstalemenls in respect ol irregulartties. including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. Key audlt matters: our assessment ot rlsks of material misstatement Key audit matters are those matters that in our professional judgement were of most significance in the audit ol the financial slalernents and include the most significant assessed risks ol material misstatement Iwhelher or not due lo Iraudl identified by us, including those which had the greatest effect on the allocation of resources in the audit, and directing the efforts of the engagement team. There are no key areas identified as the audit is very low risk with normal audit procedures adequate in all audit areas. We agreed to report lo the board of trustees any corrected or uncorrected identified misslatemenls. Identlfylng and reporting of risks of materlal misstatomont due to fraud To identify risks ol material misslatement due lo fraud we assessed events or conditions that could indicate an incentive or pressure lo commit fraud oi provide an opportunity lo commit fraud. Our risk assessment procedures included: Enquiring ol Ihe strategic directors and the trustees and inspection ol key papers provided to those charged with governance as to high level policies and procedures lo prevent and detect fraud. Reviewng the minutes ol Trustees, meetings. We communicated identrfied fraud risks throughout the audit team and remained alert lo any indications of fraud throughout the audit. As required by auditing standards, and taking into account possible pressures lo meet targets and our overall knowledge ol the control environment, we performed procedures to assess the risks of management override of Controls. To address the peNasive risk as il related to management overrid8 of controls, we remewed material journal entries and agreed these lo supporting documentalion where appropriate. Identifying and responding to rlsks of materfal mlsstatement due to non.compliance wlth laws and regulations We idenlilied areas ol laws and regulations that could reasonably be expected lo have a material ellecl on the financial statements from our general Commercial and sector experience and through discussion with the general manager and Iruslees. As the charity is regulated, our assessment of risks involved gaining an understanding of the control environment including the entity's procedures lor complyng with regulatory requirements.
Page 12 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Audltor's Report lo the Members of Hartcliffe & Withywood Ventures (conlinu8d) Year ended 31 July 2024 We cornmunicaled identified laws and regulations Ihroughout our team and remained alert lo any indications ol non-compliance throughout the audit. The potential effect ol Ihese laws and regulations on the financial slatemenls varies considerably.. firstly, the cttarily is subject to laws and regulations that directly allecl the flnancial statements including financial reporting regulation lincluding related companies regulalionl, taxation legislation (payroll taxes) and pension legislation and we assessed the extent of colnpliance with these laws and regulations as part of our procedures in the audit areas relevant lo these items. secondly, the charity is subject lo many other laws and regulations where the consequence of non- compliance could have a material effect on amounts or disclosures in the financial statements, lor instance through the imposition ol fines or litigation. We identified the following areas as those mosl likely to have such an ellect: Health and safely laws. Food and hygiene regulations. Laws relating to working with, and the sateguarding ot, young people and vulnerable adults. Auditing standards limit the required audit procedures lo identify non-compliance with these laws and regulations lo enquiry ol management and trustees and inspection of regulatory and legal correspondence, il any. Therefore, il any breach ol operational regulations is not disclosed to us or evKJent from relevant correspondence. an audit will nol detect that breach. Limitations to the ability of the audit to dele¢1 fraud or breaches of laws and regulation Owing lo the inherent limitation of an audlt, there is an unavoidable risk that we may not have detected some mateiial misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations is from the events and Iransactions reflected in the financial slatemenls, the less likely the inherently limited procedures required by auditing standards would denlify it. In addition, as with any audit, there remained a higher risk of non-delection of fraud. as this may involve collusion, forgery, intentional omissions, misrepresenlalions, or the override ol internal controls. Our audit procedures are designed lo detect material misstatement. and Iheiefore we are not responsible lor preventing non<ompliance or fraud and cannot be expected to detecl non-compliance with all laws and regubalions. A further description ol our responsibilities for the audit ol the financial stalements is located an the FRC'S website at www.frc.org.uklaudltorsresponsibilities. This description forms part ol our athlitor's report. As part of an audit in accordance wilh ISAS IUKI, we exercise professional judgmenl and malntain professional sceplicism throughout the audit. We also.. Identify and assess the risks ol material misstatement of the financial statements, whether due lo fraud or error. design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of nol detecting a material misslalement resulting from fraud is higher than lor one Tesulling from error, as fraud may involve collusion, forgery. intentional omissions, misrepresenlalions, OT the override ol internal control. Obtain an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, but not for the purpose of expresslng an opinion on the effectiveness of the internal control.
Page 13 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Audiior's Report to the Members of Hartcliffe & Withywood Ventures {continued) Year ended 31 July 2024 Evaluate the appropriateness ol accounting policies used and Ihe reasonableness of accounting estimates and related disclosures made by the directors. Conclude on the appropriateness ol the directors. use of the golng concern basis ol accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to even15 or conditions that may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence oblained up to the date ol our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentatlon, slruclure and conlenl of the linanclal statements, including the disclosures, and whether the financial slalements represent the underlying transactions and events in a manner that achieves lair presentation. We communicate with those charged wilh governance regarding, among other matters, the planned scope and liming ol the audit and significant audit findings, including any signilicanl dellciencies in internal control that we identify during our audit. Use of our report This report is made solely to Ihe charitls members, as a body. in accordance wilh Chapter 3 01 Part 16 ol the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charity's members those matters we are required lo stale to them in an auditor's report and for no other purpose. To the fullesl extent permitted by law. we do not accept OT assume responsibility lo anyone other than the charity and the charills members as a body, lor our audit work, for this report, or for the opinions we have formed. Paul Cridland FCA (Senior Statutory Audilorl For and on behalf of Charllon Baker (Bristol) Lid Charter8d Accounlanls & statutory auditor 61 Macrae Road, Ham Green, Brislol BS20 ODD 11 March 2025
Hartcliffe & Withywood Ventures Company Limited by Guarantee Statement of Flnancial Actlvilies (including income and expenditure account) Year ended 31 July 2024 Page 14 2024 Restricted funds Total funds Total funds 2023 Unrestricted lunds Nole Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 28,040 28,040 1,280,568 24,607 8,608 2,828 1,344,651 5,000 1,175,960 13.589 2,768 2,397 1,199,714 1,280.568 24,607 8,608 2,828 1,316,611 Total Income 28,040 Expendltu Expenditure on charitable activities Total expenditure 10,11 1,212,706 1,212,706 8,267 8,267 1,220.973 1,220,973 1,374,127 1,374,127 Net incomellexpenditurel and net movement in funds 103,905 19,773 123.678 1174,413} Reconeiliation ot funds Tokl funds brought forward Total lunds carrled forward 743,317 847,222 452,544 472,317 1,195,861 1,319,539 1.370,274 1,195,861 The slalernent ol financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on poges 17 to 26 form part of thgse flnancial statements.
Page 15 Hartcliffe & Withywood Ventures Company Limlted by Guarantee Statement of Flnancial Positlon 31 July 2024 2024 2023 Note Fixed assets Tangible fixed assets 16 533,262 545,787 Current assets Debtors Cash al bank and In hand 17 90,171 786,053 876,224 29,402 738,447 767,849 Creditors: amounts falllng due within one year Net current assets 18 89,947 786,277 1,319,539 1,319,$39 117,775 650,074 1,195,861 Total assotsloss curreni Ilabllltles Net assets 1,195,861 Funds of the charity Restricted funds Unreslricled funds 472,317 847,222 20 1,319,539 452,544 743,317 Total charity funds 1,195,861 These financial statements have been prepared in accordance with the promsions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of Iruslees and aulhorlsed for issue on 11 March 2025. and are signed on behalf of the board by: T Anstey Direclor The notos on paggs 17 to 26 form part of Ihvg9 flnanclal ststements.
Hartcliffe & Withywood Ventures Company Limited by Guaraniee Statement of Cash Flows Page 16 Year ended 31 July 2024 2024 2023 Cash Ilows from operatlng actlvlties Net incomellexpendilurel 123,678 1174,4131 AdluÈtments for.. Depreciation of tangible fixed assets (Xher interest receivable and similar income Accrued lincomellexpenses 12,525 {8.608) 149,520) 14,767 12,7681 50,103 Changes in.. Trade and other debtors Trade and other creditors 160,769) 21,692 38,998 115,498 1,654 Cash generated from operations 4,841 Interest received 8,608 47,606 2,768 Nei cash from operaung activities 7,609 Cash flows from investlng activltles Purchase of tangible assets Nel cash used in investing activities 114,0201 114,020) Nel increasel{decrease) In cash and cash equlvalents Cash and cash equivalents at beglnnlng of year Cash and cash equivalents at end of year 47,606 738,447 786,053 16,411) 744,858 738,447 The noles on pages 17 to 26 fomi part of these financl81 statements.
Page 17 Hartclitte & Withywood Ventures Company Limited by Guarantee Notes lo the Financial Statements Year ended 31 July 2024 General Informatlon The charity is a public benefit enlity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The addres5 of the registered office is The Gatehouse Centre. Hareclive Road, Hartcliffe, Bristol. BS13 9JN. Statement of compllance These financial statements have been prepared in compliance wilh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republlc ol Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Companies Act 2006. Accounting pollcles Basis of preparation The financial statements have been prepared on the hislorical cost basis, as modilied by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The tinancial stalemenls are prepared in slerfing, which is the functional currency ol the entity. Going concern The trustees have prepared projections to July 2025 which show a surplus lor the year. In addition, at July 2024 the charity had a strong reserves position as outlined in the Reserves Policy on page 4. Due lo this Ihe tru51ees are conlidenl that there is no material uncertainty as to the charitS ability to continue operations. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that arg believed lo be reasonable under the ciicumstances. In managements's opinion there are no critical judgements or eslimales lo note. Fund accounting Unreslricled funds are available for use al the discretion of the trustees to further any of the charivs purposes. Designated funds are unrestricted funds earmarked by the dlreclors lor particular future project or commitment. Restricled funds are subjected to reslriclions on Ihelr expenditure declared by the donor or through the lerms ol an appeal. and fall into one ol two sub-classes.. reslricled income funds or endowment funds.
Hartcliffe & Withywood Ventures Company Limited by Guarantee Noles to the Financial Statements Iconiinu•dJ Year ended 31 July 2024 Page18 Accountlng pollcies (ntinued) Incoming resources All income is included In the statement of financial activities when entitlement has passed lo the charity, il is probable thai Ihe economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The followng specific policies are applied to particular categories ol income= income from donations or grants is recognised when there is evidence of entillemenl to the gifL receipt is probable and its amount can be measured ieliably. income from contracts for the supply of services is recognised with the delivery ol the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il to be spent on a particular purpose and returned il unspent, in which case it may be regarded as restricted. Inveslmenl income is included when receivable. Resourees expended Expenditure is recognised on an accrual basis as a Ilabllity is incurred. Expenditure includes any VAT which cannot be fully recovered, and is written off as an expense in the SOFA in the period in which il was incurred. Costs on trading activitie5 are costs associated with support and fund ralslng activities in relation lo the Charitls main activity. Charitable expenditure comprises those costs incurred by the Charity in the delivery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs ol an indirect nature necessary lo support them. Governance costs include those costs associated with meeting the conslitulional and slalutory requirements ol the Charity and include the audit fees and costs linked to the strategic management ol the Charity. These are now reported under Support costs. Operating leases Lease payments are recognised as an expense over the lease lemi on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease lerm. on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated at wsl less any ac¢umulaled depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the fair value al the date ol revaluation less any subsequent accumulated depreciation and subsequent accutnulaled impatrmenl losses.
Hartcliffe & Withywood Ventures Company Limited by Guarantee Noles to the Financial Statemenls {coniinuedJ Year ended 31 July 2024 Page 19 Aceountlng policles fcontinu8d) Depreciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less its residual value, over the useful economic life ol that asset as follows.. Long leasehold property Equipment Short leasehold property over life of the lease 33 113Vo reduclng balance over life of the lease Impalmient ol flxed assets A Teview lor indicators of impairment is carried out at each reporting dale. with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amounl, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Flnanclal Instruments A financial asset or a financial liability is recognlsed onty when the entity becomes a paty to Ihe contractual provisions of the instrument. Basic financial instruments are initially re¢ognised al the amount re)Vable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where il is recognised al Ihe present value of the ILrture payments discounted at a market rale ol interest for a similar debi instrument. Current assets and current liabililies are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which Ihe related service is provided. Prepaid conlributions are recognised as an asset to the exlenl Ihat the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmlted by guarantee Under the terms of the company's Memorandum and Articles, every member of the company undertakes lo contribule lo the assets of the company if it is wound up during the time that he or she is a rnember. or within one year aftemards, for payments ol debts and liabilities of the company contracted before he or she ceased lo be a member, up to a maximum of £1.00.
Hartcliffe & Withywood Ventures Company Llmited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 July 2024 Page 20 Donations and legacies Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Donations Donations and grants 8,100 8,100 5,000 5,000 Grants National Lottery funding 19,940 19,940 28,040 28,040 5,000 5,000 CharFtable actlvllles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Leisure learning City ol Bristol College Nursery income Tenants rental income Tenants recharges Gatehouse Cafe income 5,596 627,066 435,556 121,818 14,571 75,961 1,280,568 5,596 627,066 435,556 121,818 14,571 75,961 1,280,568 4,460 617,195 371,998 102,887 11,723 67,697 1,175,960 4,460 617,195 371,998 102,887 11,723 67,697 1,175,960 Other trading aclivlties Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Conference & meeting room hire 24,607 24,607 13,589 13,589 Investment incomo Unreslricled Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Bank Inleresl 8,608 8,608 2,768 2,768 Other income Unreslricled Funds Restricted Tol81 Funds Funds 2024 Sundry income 2,828 2,828
Hartcliffe & Withywood Ventures Company Limited by Guarantee Notes to the Financlal Slatemenls (¢ontInu} Year ended 31 July 2024 Page 21 Other income (¢ondnuedJ Unrestrlcted Funds Reslricled Tolal Funds Funds 2023 Sundry income 151 2,246 2,397 10. Expendlture on charltable activities by tund typ8 Unreslricled Funds Reslricled Total Funds Funds 2024 Education Nursery care Galehou5e cale Support costs 836,482 326,358 44,353 5,513 8.267 844,750 326,358 44,353 5,512 1,220,9n 1,212,706 8,267 Unrestricted Funds Reslricled Total Funds Funds 2023 Education Nurserycare Gatehouse cale Support costs 939,324 321,596 92,972 4,563 13,050 2,622 952,374 324,218 92,972 4,563 1,358,455 15,672 1,374.127 11. Expenditure on charltsble activities by actlvlty type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Education Nursery care Gatehouse cale Governance costs 844,750 326,358 44,353 844,750 326,358 44,353 5,512 1,220,973 952.374 324,218 92,972 4,563 1,374,127 5,512 5,512 1,215,461 12. Nel Incomel(expenditure) Nel incomellexpendilurel is staled after chargingllcFeditingl: 2024 2023 Depreciation of tangible fixed assets 12,525 14,767
Hartcliffe & Withywood Ventures Company Limited by Guarantee Notes to the Financial siatemenls {eoniinued) Year ended 31 July 2024 Page 22 13. Auditors remuneration 2024 2023 Fees payable for Ihe aLtdil of Ihe tinanclal slalements 5,11XI 4,850 14. Staff costs The lolal staff costs and employee benefits lor the repoiting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions lo pension plans 902,996 51,451 19,045 973,492 996,480 67,260 19.082 1.082.822 The average head count of employees durlng the year was 5712023.. 611 Key management personnel include all persons that have authority and responsibility lor planning, directing and controlling the activities of the charity and are considered to comprise of the Chief Execulive and Trustees. The total compensation paid in respect of these personnel for setvices provided to the charity was £61,23312023.' £24,23n- No employee received employee benefits ol mole than £60,000 during the year12023: £nlll 15. Trustee remuneration and 8xpen$es No Iruslee received any remuneration during the year. No trustee received any reimbursed expenses during the year. 16. Tanglble fixed assets Short Leasehold Property Land and buildings Equipment Total Cost At 1 Augug12023 and 31 July 2024 Depreclatlon Al 1 August 2023 Charge lor the year At 31 July 2024 Carrylng amounl Al 31 July 2024 At 31 July 2023 656,430 326,632 93,372 1,076,434 161,867 2,430 311,854 5,099 56,926 4,996 530,647 12,525 543,172 164,297 316,953 61,922 492,133 9,679 31,450 533,262 545.787 494,563 14,778 36,446
Hartcliffe & Withywood Ventures Company Limited by Guarantee Notes to the Flnancial Statements (ntinUed) Year ended 31 July 2024 Page 23 16. Tanglble fixed assets (continued) Shorthold Lease The shorthold lease relates lo industrial units al Lamplon Avenue, these are held on a 50 year lease, which commenced in 1989. The expenditure on developing the sile to March 1989 was partially covered by contributions from the Inner Area Programme and Bristol City Counci5. Longhold Lease The longhold lease relates to the Gatehouse Centre on Hareclive Road, this was assigned lo the company in October 1995, this is a 125 year lease, expirlng in 2120. General Tangible fixed assets are primarily used lor charitable purposes. Use of tangible fixed assets for generating funds, managing and administering the charity is incidental relative to charitable use. 17. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 76.651 8,520 5,000 90,171 13,688 10,714 5,000 29,402 18. Creditors: amounts falling due wlthln one year 2024 2023 Trade credllors Accruals and deferred income Social security and other taxes Deposils and other creditors 24,421 7,796 23.622 34,108 89,947 9.951 57,316 23,757 26,751 117,775 19. Penslons and other post retirement benefits Defined contributton plans The amount recognised in income or expenditure as an expense in relation lo delined eonlribulion plans was £19,04512023'. £19,083).
Hartcliffe & Wilhywood Ventures Company Limiled by Guarantee Notes to the Financial Statements {¢onIlnuj Year ended 31 July 2024 Page 24 20. Analysis ol charltsble funds Unrestricted funds Al 1 August 202 At Income Expenditure 31 July 2024 General funds 743,317 1,316,611 {1,212,7061 847,222 Al 1 Augu51202 At Income Expenditure 31 July 2023 General funds 909,304 1,192,468 11,358,455) 743,317 General funds represent those funds available to the charity lor use in any ol its recognised aclivilies al the discretion ol the management and Iruslees. Restricted funds At 1 August 202 At Income Expendrture 31 July 2024 Capital fund Community Fund Nursery stall training lund John James Bristol Foundation Funds raised lor specific purposes Quartet Community Foundation Nursery-sound Play Winter Warmer Nats'onal Lottery Community Fund 446,177 352 5,787 228 16,8201 439.357 352 5,751 228 1361 2,000 6,100 19,940 2,000 4,689 19,940 472,317 11.4111 452,544 28,040 18.2671 At 1 Augus1202 At Income Expenditure 31 July 2023 Capital fund Community Fund Nursery staff training fund John James Bristol Foundation Funds raised lor specifi¢ purposes Quartet Community Foundation Nursery-sound Play Winter Warmer National Lollery Community Fund 450,776 352 6,992 2,850 14,5991 446,177 352 5,787 228 11,2051 12,6221 12,2461 15,0001 2,246 5,000 460,970 7.246 115,6721 452.544
Hartcliffe & Withywood Ventures Company Limited by Guarantee Notes to Ihe Financial Staiements {thitinued) Year ended 31 July 2024 Page 25 20. Analysis ot charitable tunds (cofttlnu•d) The Capital Fund is represented by the book value ol the leasehold properties and propety improvements purchased with grant funding. Thls includes capilalised assets purchased with a grant from Bristol City Council lo furnish and open the refurbished Studio 9 which is now available lor hire. Expenditure in the year is the depreciation charged against those assets. The Community Fund represents the residual balance of funds received in a previous year from Knightslone Housing Association used lo fund a visit to the Houses of Parliament. The Nursery Siafl Training Fund represents funds received from Bristol City Council to support stall to access CPD opportunities in order lo maintain the quality of the early education enlillemenl for ellgible 2 year-olds. John James BTlStol Foundation funding has been received for the development of an area of the Nursery meadow. Quartet Community Foundation has been received lo provide 6 week courses on art & crafts and cooking, introductions to maths and english, ¢ompuler support and guidance. Nursery Sound Play has been awarded to carry out an EEF programme. Winter warmer has been awarded lor ihe purpose to provide winter fuel support on a drop in basis. The National Lottery Community Award has been provided lor provision of a stall wsl in the donation shop in the Gatehouse Cenlre. 21. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 93.905 843,264 189,9471 847,222 439,357 32,960 533,262 876,224 189,9471 1,319,539 472,317 Unrestricted Funds Restr¢cted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 99,611 761,481 1117,7751 743,317 446.177 6.367 545,788 767,848 1117,7751 1,195,861 452,544
Page 26 Hartcliffe & Withywood Ventures Company Limited by Guarantee Noies io the Financlal Statements (¢ontlnuod) Year ended 31 July 2024 22. Analysls ot changes In net debt At At 1 Aug 2023 Cash flows 31 Jul 2024 Cash al bank and in hand 738,447 47,606 786,053 23. Operatlng lease commltments The lolal future minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 yearg Later than 5 years 10,756 35,771 20,000 66,527 6,572 7,108 21,000 34,680 24. Related parties Hartcliffe and Wilhywood Community Partnership, connected through common trustees, hired no rooms during the year12023.' £1581. The balance outstanding at the year end was £nil12023.' £1581. There were no other related party Iransactions that require disclosure. No remuneration OT travel expenses were reimbursed lo Iruslees during the year.