Charlty reglstratlon number 328154 Company re8lstratlon number 022380531En8land and Wales) EcfARC LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024
ECTARC LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Truste•s Ms R W Hughes MBE Mrs S Cheshire MrA Vir80 Charlty number 328154 Company number 02238053 Reglstered offlce Parade Street Llan8ollen Nth Wales LL20 8R8 Independent examlnei Mitchell Charlesworth 24 Nlcholas Street Chester CHI 2AU
ECTARC LIMITED CONTENTS P4ge TfUStees' report Independent examiner's report Statemenr of financial activSiies Balance sheel Note5 to the financial statement5 7-15
ECTARC LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 MARCH 2024 The trustees present thelr annual report and financlal ststements for the year ended 30 March 2024. The flnancial statements have been prepared In accordance wlih the accounting policles set out In note I to the Ilnanclal statements and comply with the charity's governing document, the Companles Art 26 and "Accountin8 and Reportln8 by Charitie5.' Statement of Recommended Practice applicable to tharities preparln8 their 3ccount5 in accordante with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191" Objertlve5 and actlvltSes The charity's objects are the promotion, maintenance, improvement of education and training within Wales, elsewhere in the United Kingdom and in the regions of Europe. The charity will deliver this by or8anisin8 and taking part in education and trainin8 projecis and pro8rammes which slimulate an interesi and understanding of ihe culiures and lan8uages of the counirles and re8Sons of Europe. The trusiees have paid dtse regard to guldance Issued by ihe Charity Commisslon in decidin8 what activStles the charity should undertake. The trustee5 belleve thai the aims, objectlves and service5 provlded by ihe chèrity, reflected in Ihe above paragraph, are compliant with the Charlty Commission Guidance on Publlc benelit and the publlc benefltls further exempllfled in the following statements of achlevements and performance. A¢hle¥ements and performance ECTARC'5 previous income Streams have been affected by external fartors and are now non-existent and taking into account the current state of the ELT industry in the UK and105s of ERASMU5+ it seems unlikely we will be able to 8enerale income in this area again. Initially we looked at the alternatives to ERASMUS+ offered in the UK and later in Wales but these do not accommodate incomSng only sludent group5. Having accepted that the practicalSties and cost of gaining the requlfed language school accredStatSon to bring Students to the UK, durlng the year we pursued accreditation for online pre-masters degree courses and universSiy pathways with national provlders. Guided by a trustee wlth consSderable experience In the industry and most importantly agent coniacts, we looked in depth at collaboratin8 Wlth NCUK IThe Northern Consortlum of UK Universitlesl and subsequently NCC Education undertaklng ihe accreditation process with both. However, we were unable to pursue this route due to the up-front Costs and concluded that the charlty would struule to 8enerate enough Income from initlal courses. ECTARC'S tradln8 arm.. Llangollen Day Nursery due to the risln8 Costs of food, staff and partitularly energy In our lar8e Viciorlan school bullding. we comm155ioned an independent Chlldcare and Early Years Consultant to review the commerclal viability of the Nursery. Unfortunately, the Consultant concluded her report by saying that her recommendation was that the Nursery was not viable as an operation. After careful consideration, we took the difficult decision to close the nursev. Redundancy consultations took place and Trursery Parentslcarers were given notice. The Nursery closed on the 14th August. Equlpment and resources received ihrou8h the Small Grant Scheme were redlstrlbuted amongst other settln8s wlthln Denbighshlre as instructed by the OCC Childcare & Play Development Manager. Plan for the future Havin8 explored the changes around Brexlt, Erasmus+. the nursery Closu and the likely expenditure required on the buildin& we agreed that the best option for EcfARC would be to sell the building with the po55ibility of rentin8 an office. An independent property adviser was instructed to carry out a Designated Advisor'5 Report lin accordance with the provisions of the charities act 2020). The report confirmed that it would be in the Charity's best interest to dispose of the property. SolScitors were appointed and ihe property was marketed in February 2024. Expressions of Interest from vlewlngs confirmed a number of Interested parties. A5 of 31st March 2024 the buildlng remains unsold.
ECTARC LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Fln•n¢lal revlew It 15 the policy of the charity that unrestricted fund5 which have not been designated for a specific use should be maintained at a level eguivalent to between three and six month'5 e¥penditure. The trustee5 consider that reserves at this level will ensure that. in the event of a si8nificant drop in funding. they will be able to continue the charilvs current activities while consideration is 8lven to ways in which additional funds may be raised. This level of reserves has been malntained throughout the year, Following a deficit for the year of £48.821 12023 - £55,938) Ihe level of unresiricted SelVeS at 30 March 2024 are £341.73012023- £390,551). This currently equates to over 2 years worth of expendlture, The trustees have assessed the major rlsks to whlch the charity Is exposed, and are satisfied thai systems are in place to mitlgale exposure to the malor rlsks. Strurture, 8o¥ernance and management The charity Is a company limited by guarantee (number 02238053) and reglstered charlty Inumber 3281541 whlch Is governed by its Memorandum and Artlcle5 of Association. The re815tered office is Parade Street, Llangollen LL20 8RB. Effective governance is delivered by a board who are a150 trustee5. They are responsible for formulating 5tralegies and policies for the company as a whole. The trustees, who are also the directors for the purpose ol company law, and who served durin8 the year and up to the date of signature of the financial statements were.. Ms R W Hughes MBE Mrs S Cheshire MrAVlrgo Mr N P Decourt IResi8ned 24 July 2023) None of the trustees has any beneficial interest in the company. All of the tru5tee5 are member5 of the company and guarantee lo contribute £1 in the evenl of a winding up. New trustees are invited and encouraged to attend a series of short training sessions to familiari5e themselves with the charity and the context within it operates. These are led by the Executive Director of the charitv. The obligations of the board members: The maln documenis whlch sei oul the operatlonal framework for ihe charlty InclvdSng the Memorandum and Articles. Resourcing and the current flnanclal position as set out in the latest published accounts. Future plans and objectives.
ECTARC LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 ststement of trustees, responslbllltles The trustees, who are a150 the directors of ECTARC Limlted for the purpose of company law, are responslble for preparln8 the Trustees, Report and the financial staternent5 in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounling Practice). Company Law requires the trustees to prepare financial 5tatement5 for each financial year which 8ive a true and fair view of the slate of affaSrs of the charlty and of the incomin8 resources and applicalion of resources, including the income and expenditure, of the charltable company for thai year. In preparlng these flnancial statements, the trustees are required to.. lect suitable accountln8 pollcies and then apply them consistently; - observe the methods and principles in the Charities SORP.. - make lud8ements and estimates that are rea50nable and prudent- state whether applicable UK Accountln8 Standards have been followed, subject to any material departures dSsclosed and explained In the financial statements,. and prepare the financial statements on the 8oln8 concern basis unless it Is inapproprlate to presume that the charlty wlll conts'nue in operation. The trustees are responsible for keeping adequale accounting record5 that disc105e with reasonable accuracy at any time the financial position of the charily and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also fesponsible lor sale8uardin8 the assets of the charity and hence for takin8 reasonable steps for the prevention and detectlon of fraud and other irre8ularitles. trustee5 re ved by the Board of Trustees. Ms R W Huihes MBE Trustee Dated:......................... 1811212024
ECTARC LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ECTARC LIMITED I report to the trustees on my examlnation of the financial ststements of ECTARC Umited (the charltyl for the year ended 30 March 2024. ResponslbSlltle$ and basls of report As ihe trustees of the charity land also Its directors for ihe purposes of company lawl you are responsible for the preparatSon ol the flnancial slatements in accordance wilh the Tequifemenls of the Companies Act 2006 {the 2CQ6 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Aci and are eli8lble for independent examination. I report in respect of my examlnaiion of the charity's financial statements carrled out under section 145 of the Charities Act 2011 (the 2011 Actl. In carrying Out my examination I have followed all the applicable Directions 8lven by the Charity Commission under section 14515llbl of the 2011 Act. Independent emamlnei's statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect,. accounting records were not kept in respeci of the charlty as requlred by section 386 of the 2CKI6 Act; or the flnancial slatements do nol accord with those records; or the financial statements do not comply with the accountin8 requlrements of section 396 of the 2006 Acl other ihan any requlrement that the accounts give a true and falr view which Is not a matter considered as part of an independent examination.. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountin8 and reporting by charities applicable to charities preparing their account5 in accordance with the Financial Reporting Standafd applicable in rhe UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matlers in connectlon wlth the examinatlon to which attention should be drawn In thls report In Order to enable a proper understandln8 of the flnanclal statements to be reached. Mltchell Charlesworth 24 Nlcholas Street Chester CHI 2AU 1811212024 Dated= ,..
ECTARC LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 MARCH 2024 Unreslrlded funds 2024 Unrestrlcted funds 2023 Notes Income from: Donations and legacies Investments 36,664 2,630 42.028 1.013 Total Income 39,294 43,041 Expenditure on: Charltable activiiles 88,115 98.979 Total expendlture 88,115 98,979 Net expendlture and movement In funds 148.8211 155.9381 Reconclllatlon of lunds: Fund balances at 31 March 2023 390,551 446,489 Fund balances •t 30 March 2024 341,730 390.551 All Income and expenditure derlve from contSnuln8 èctivltles, and has come Irom unrestrlcted funds.
ECTARC LIMITED BALANCE SHEET ASAT30 MARCH 2024 2024 2023 Notes Flxed assets Tanglble assets Investments li 12 209,244 210,278 209,245 210,279 Current assets Debtors Cash at bank and In hand 13 1.991 135,027 3,598 180,435 137,018 14,5331 184,033 13,7611 Credltors: amounls falllnl due wlthln year 14 Met current assets 132,485 180,272 Total assets less current Ilabllltles 341.730 390.551 Net assets ex¢ludlng penslon Ilabllhy 341,730 390,551 The funds of the charlty Uniestricted funds 341,730 390,551 341,730 390.551 The company Is entitled to the exemption from the audlt requirement contained in section 477 of the Companles Act 2CK)6. for the year ended 30 March 2024. The directors acknowledge their responsibilities for compl¥in8 Wlth the requlremenis of the Companie5 Act 2006 with respect to accounlin8 records and the preparatbon of flnancial statements. The members have not required the company to obtain an audlt of its financial 5tatement5 for the year in question In accordènce with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 1811212024 The Ilnancial statements ere approved by the trustees on Ms R W Hughes MBE Trustee Company reglstration number 02238053 (England and Wales)
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024 Accountln8 pollcles Charlty InformatSon ECTARC Limiled is a Private company Ilmited by guarantee incorporated in England and Wales. The re8Sslered office Is Parade Street. Llangollen. LL20 8RB, Nth Wales. 1.1 Accountln8 comientlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" (effective I january 20191. The chafily is a Publlc Benefit Enlity as defined by FRS 102. The charity has taken advantage ol the provlslons In the SORP for charltles not to prepare a Statement of Cash Flows. The financial siatements are Ppared In sterllng, whlch Is the functlonal currency ol the charity. Monetary amounts In these financial statements are rounded io the nearest £. The accounts have been prepared under the hlstorScal cost convention. modifled to Include certain financlal instruments at fair value. The princSpal accountlng pollcies adopted are sel Out below. 1.2 Golng concern At the time of approvlng the financial statements, the trustees have a reasonable expectation that the charlty has adequate resources to contlnue in operational existence for the foSeeable future. Thus the trustees continue to adopt the going concern bèsis of accounting in preparing ihe financial 51atements. 1.3 Charltable funds Unresiricted funds are avallable for use at the d•scretion of the trustees In fuftherance ol thelr charltable objectives. Restricted funds are subject to speciflc condltions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financlal statements. Endowment funds are subject to specific conditlons by donors ihat the capital must be mainiained by the charity. 1.4 Income Income is recognised when the charity 15 legally entitled to it èfter any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donatlons are reco8nised on recelpt. Other donations are recognlsed once the charlty has been notified of the donation. unless performance conditSons requlre deferral of the amount. Income tax recoverable in relatSon to donations received under Glft Aid or deeds of covenantls recognlsed at the time of the donatlon. Legacies are recognised on receipt or otherwise if the charity has been notified of an irnpending distribution. the amount 15 known, and receipt is expected. If the amount is not known, the le83cy is treated as a contin8ent asset.
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Actountlng policies Iconllnuedl 1.5 Expendltur• Empenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classified by actlvlly, The costs of each activlty are made up of the roial of direct costs and shared costs, Including support costs involved In underiakln8 each aciivity. Direct costs attrlbutable to a sin8le aciivity are allocèted dlrectly to that activity. Shared costs whlch contribute io more than one actlvity and support cost5 which a not attributable to a single activity are apportioned between those actlvities on a basis consistent with the use of resources. Central staff costs are allocated on the basls of time spent, and depreciatlon charges are allocated on the portion of the asset's use. All expenditurels accounted for on an accruals basis and has been included under expense cate8ories that a88re8ate all COSts for allocatbon to actbviiies. Where costs cannot be dlrectly attributed to pariicular activities they have been allocated on a basis conslstent with the use of the $ourCes. Costs of generatlng voluntary income are those Incurred In seekin8 voluntary contrlbutions and do not include the costs of disseminating information in support of the charitable activities. Other resources expended are those incurred in connection with administration of the Charity. Governance costs relate to the compliance with constitutional and statutory requirement. There are no material support costs and therefore they have no been disclosed separately. 1.6 Tanglble flxed assets Tan8ible fixed assets are initially measured at cost and subsequently measured at cost or valuallon, net of depreciatlon and any Impairment losses. Deprecialion Is recognised so as to wrlte off the cost or valuatlon of assets less their residual values over their useful Ilves on ihe following bases., Freehold land and buildlngs Property Improvements Plant & Machinery 0% (see below) IO% Reducing balance 25% Reducin8 balance Freehold land and buildings are not depreclated. The reason lor ihis being, the trustees consider ihe residual value of the property to be slmilaf to the purchase price a5 the buildln8 is kept in a good stale of repair. Any depreciation calculated would be immaterial. The 8ain or loss arising on the disposal of an asset is determlned as the dlfference between the sale proceeds and the carryln8 value of the asset, and 15 reco8nised In the 5tstement of financlal actlvities. 1.7 Flxod asset Investments Fixed asset investments are initially measured * transa(tion prlce excludlng transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transartion costs are expensed as incurred. A subsldlary is an entlty controlled by the charity- Control is the power to govern the financial and operating policies of rhe entity $0 as to obtain benefits from its actiVTties.
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Actountlng policies Iconllnuedl 1.8 Impalmient ol flxed assets At each reportin8 end date, the charlty revlews the carryln8 amounts of Its tan8lble assets to determlne whether there is any indication that those assets have suffered an impairment Ios5. If any such indication exists. the recoverable amount of the a55et 15 estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equlvalerrts Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturitie5 of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings In current liabilitles. 1.10 FSnanclal Instruments The charliy has elected to apply the provislons of Sectlon 11 'Baslc Financlal Instiumenis. and Sedion 12 '0ther Flnanclal Instruments Issues. of FRS 102 to all of Its flnancial Instruments. Flnanclal Instruments are recognlsed in the charity's balance sheet when the charlty becomes party to the contrartual provisions of the instrument. Financlal assets and liabilities are offset. wlth the net amounts presented in the financlal 5tatement5, when there is a le8ally enforceable ri8ht io set off the reco8nised amounts and there is an intention io seitle on a net basis or lo realise the asset and sertle the liability slmultaneouslv. Boslcllnonclol ossets Basic financial assets, whlch Snclude debtors and c3sh and bank balances, afe Initlally measured at transattion prlce including transacrion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a flnanclng transaction. where the transaction is measured ai the present value of the future receipts discounted at a market raie of interest. Flnancial assets classified as receivable wSthin one year are not amortlsed. Boslcflnonclol Ilabllltles 8asic flnancial IlabS1ities. includlng crediiors and bank loans are initlally recognised at trènsaaion price Llnless the arrangement constitutes a financlng transaction. where the debt Instrument 15 measured ai the present value of the future payments dlscounted at a market rate of Interest. Flnanclal Ilabilitles classifled as payable withln one year are not amortlsed. Debt Instrument5 are Subsequently carrled at amortlsed c05t. Using the effective Interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenred as non.current liablllties. Trade credltors are COgnISed Inltially at transactlon price and subsequently measured at amortlsed cost using the effectSve interesi method. Derecognltlon oljlnanclal Ilabllltles Financial liabilities are derecognised when the charlws conirartual obligations expire or are dlscharged or cancelled. 1.11 Employee beneffts The cost of any unused hollday entitlement Is recognlsed in the period in which the employee's services are received. Termlnation benefits are reco8nised immedlately as an expense when the charity Ss demonstrably committed to terminate the employment of an employee or to provlde termination beneflts.
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Actountlng policies Iconllnuedl 1.12 Retlr•m•nt beneflts Payments to deflned contributlon retlrement beneflt schernes are char8ed as an expense as they fall due. Crftial ac¢ountini estlmates and judgements In the appllcation of the charity's accounting policies, the Irustee5 are required to make judgements. estimates and assumptions about the carrying amount of assets and IlabS1Iiies that are noi readily apparent from other sources. The estSmates and associated assumptions are based on hlstorlcal experience and other factors that are considered io be relevant. Actual results may differ from these estlmaies. The estlmates and underlyln8 assumptions are revlewed on an on8olng basis. Revisions to accountin8 estlmates are recognised in the period in which the estimate is revised where the revision affect5 only that period. or In the period of the revision and future periods where the revision èfferts both current and future perlods. Income from donatlons and le(leS Unreslrlcted funds 2024 Unrostrlcted funds 2023 Donatlons and 8ifis 36,664 42,028 Donatlons and 8lfts Other 36,664 42.028 36,664 42,028 Grants recelvable for core adlvltles Income from investments Unrestrlcted funds 2024 Unrestrlcted funds 2023 Interest receivable 2.630 1.013 10-
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Expendlture on charltable artlvltles Total 2024 Total 2023 Dlrect costs Staff cosis Depreciation and impairment Youth exchange costs- outward Heat and118ht Printing. postage, statlonary and advertislng Telephone and internet General expenses 45,394 1.035 55,931 1.318 13,951 865 5.386 12,081 13,515 549 4,531 14,002 78,712 89,847 Share ot support ind Bovernance msts {see note 61 Governance 9.403 9.132 88.115 98,979 Analysls by fund Unrestricted funds 88.115 98.979 Support ¢osts alloth*ed io artlvltles Tolal Total 2023 2024 Govemance 9,403 9,132 20Z4 2023 Governance costs comprlse: Legal and professlonal Independent examlners fees 4,522 4,881 4,291 4,841 9,403 9.132 11
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 Net mo¥emont In funds 2024 2023 The net movement In funds 15 Stated after char8in811creditin81- Fees payable to the charity's Independent examSner: for the independent examination of the charily's financial statemenls for other fin3nci31 services Depreciaiion of owned tanglble fixed assets 4,080 801 3,900 941 1,035 1.318 Trustees One of the trustees received reimbursed travel expenses durin8 the year of £6312023 . ENil). None of the irustees of the charity hold paid positions. Employees The average monthly number of employees durlna the year wa$: 2024 Number 2023 Numbèr Number of admlnlstrative staff Employment costs 2024 2023 Wages and salaries Soclal securliy costs Other pension costs 45,394 50,916 5,312 12971 45,394 55.931 There were no employees whose annual remunerat•on wa5 more than £60.OLK). Rernuneratlon of key manalemert personnel None of the staff a conSided to be "key management personnel" thls Is because all declslons a made by the Trustee5. None of the Trustees hold pald posltions wlthin the charity. 10 Taxatlon The charity is exempt f rom taxation on its attivities because all Its income15 applied for charitable purposes. 12-
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 11 TaTh8lble fixed assets Frt•hold l•Thd •nd blI01n Impv•¥•m•nts Plant & MKhln•ry Total Al 31 March 2023 204,453 28.986 89.271 322.710 At 30 March 2024 204,453 28,986 89,271 322,710 Depreclatlon and Impalrment At 31 March 2023 Depreciation char8ed in the year 26,180 280 86,251 755 112,431 1,035 At 30 March 2024 26,460 87,006 113,466 C•rryln8 amount AI 30 March 2024 204,453 2,526 2,265 209,244 At 30 March 2023 204,453 2,805 3.020 210.278 12 FSxed asset In¥eslment$ Other Investments Cort ¢Y valuatlon Ai 31 March 2023 & 30 March 2024 Carryln8 amount At 30 March 2024 At 30 March 2023 2024 202J Other invesiments comprlse.. Notes Investments in subsidiarles 19 13-
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 13 Debtors 2024 2023 Amounts lallln8 due wlthln one year: Amounts owed by subsidiary undertakin8s Prepayments and accrued income 225 3,373 1,991 1,991 3.598 14 Credltors: amounts fallln8 due wlthln one year 2024 2023 Othef taxatlon and Cial security Trade crediiors Other creditor5 409 41 12411 ioi 4,083 3.901 4,533 3,761 15 Retlrement beneflt sthemes 2024 2023 Dellned contrIblOn schemes Charge to proflt or loss In respert of detlned contrlbutlon schemes 12971 The charlty operates a defined contrlbutlon penslon scheme for all qualifying employees. The assets of the scheme are held separately from those of the charlty in an independently admlnistered fund. 16 Unrestrfcted funds The unre51ricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 31 March 2023 Incomlng resources Resources expended At 30 March 2024 General funds 390,551 39,294 188,1151 341,730 Prevlous year: At 31 March 202Z Incoming resources Resources expended At 30 March 2023 General funds 446,489 43,041 198,9791 390,551 14-
ECTARC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024 17 EntS after the reportlng date Please See the Trustee5 Report and Note 19 (below) for detsi15 of events after the end of the period. These events are deemed to be non.adju5tin8 events. Related party transa¢tlons Ai the year end the company was owed £NII12023 - £2251 by Llangollen Day Nursery Llmited. a company In which ECTARC Llmited is the sole shareholder. Thls loan bears no I18ht to Interest and has no fixed repayment terms. During the year ECTARC Llmlted recelved unrestrlcted donatlons of £36,664 12023.. É42,0281 from Uangollen Day Nursery Limited. 19 Subs1drIes These financial statements are separate charity flnanclal slatements for ECTARC Limited. EAR( Llmited as the parent of a Small 8roup15 exempt from preparlng consolidated accounts. Detalls of ihe charity's subsidiaries at 30 March 2024 are as follows: Name of undertaklni Reglstered offlce Nature ol buslness aass of shares held % Held Dlrect Indlrttt Uan8ollen Day Nursery Limited En8land and Waleschildcare Ordinary 100.00 The companie5 re8lstered office is. Parade Slreel, Llangollen. Nih Wales, LL20 8RB. The company number Is 11108303. The Investments In subsidiarles are all stated at cost. Llangollen Day Nursery Llmlted filed notice for voluntary strlke-off on 13 August 2024 and will be stuck off the reglster and dissolved not less than 2 months from this date. See the Trustees Report for further discussion surrounding this. Thi5 is considered to be a none adjus1in8 subsequent event. 15-
ECTARC UMITED Parade Streot. Llargollen, North Wales. LL20 8RB Mitchell Charlesworth 24 Nicholas Street Chester CHI 2AU 1811212024 Dear Sirs This letter is provided in connection with your independent examination of the accounts of ECTARC Limited for the year ended 30 March 2024. We confirm that the following representations are rnade to the best of our knowledge and belief, having made such inquiries of management and staff as we considered necessary to satisfy ourselves that each of the following representations can properly be made. General We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 26 May 2023 under the Companies Act 2(Y)6. for the preparation of the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) for bein8 satisfied that they 8ive a true and lair view and for makin8 accurate representations to you. All accounting records and relevant information have been made available to you for the purpose of your Independent examination and all transactions undertaken by the charitable company have been properlv recorded in the accounting records and are reflected in the accounts. All other records and related information. including minutes of all trustees and members meetings. have been made available to you. We have provided unrestricted access to persons within the entity from whom you have deemed it necessary to request information. We confirm that the accounts are free of material misstatements, including omissions. Internal Control and Fraud We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud. We have disclosed to you all infom)ation in relation to fraud or suspected fraud that we are aware of affecting the entity involving management or employees who have a significant role in internal control or others where fraud could have a material effect on the accounts. We have also disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity's accounts communicated by current or former employees, analysts, regulators or others.
Laws and Re8ulatlons We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framewofk within which the charitable company conducts its business and which could affect the accounts. The charitable company has complied with all asperts of its contractual agreements that could have a material effect on the accourbts in the event of non-compliance. Accountlng Estlmates Significant assumptions used by us in making accounting estimates. including those measured at fair value. are reasonable. Assets and Uabllltles The charitable company has satisfactory title to all assets, and there are no liens or encumbrances on the charitable companrfs assets except as disclosed in the accounts. We have recorded or disclosed, as appropriate, all liabilities both actual and contingent, and have disclosed in the notes to the accounts all guarantees given to third parties. The carrying value and where relevant the fair value measurements and classification of assets and liabilities are properly reflected in the accounts and there are no plans or intentions that may materially alter this. Loans and Arrangements The charitable company has at no time during the year entered into any arrangement, transaction or agreernent to provide credlt facilitles (including loans, quasi loans or credit transactions) for trustees, nor to guarantee or provide security for such matters. Legal Clalms We have disclosed all known actual or possible litigation and claims that have been, or are expected to be received and such matters. as appropriate, have been properly accounted for and disclosed in the accounts. Related Partles Related party relationships and transattions have been appropriately accounted for and disclosed in the accounts. We have disclosed to you all relevant information concerrbin8 such relationships and transactions and are not aware of any other matters that require disclosure in order to comply with the requirements of company law or accounting standards. Subsequent Events All events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts have been adjusted or included in the accounts.
Golng Concern We believe that the charitable company's accounts should be prepared on a going concern basis on the grounds that the current and future sources of funding or support will be more than adequate for the charitable compan$ needs. We have considered a period of twelve months from the date of approval of the accounts. We believe that no further disclosures relating to the charitable companrfs ability to continue as a going concern need to be made in the accounts. Grants and donatlons All grants, donations and other Income, the recelpt of which being subject to specific terms or condltions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Regulatory matters We are not aware of any matters of materlal slgnificance that should be reported to the Charlty Commission. There have been no other communlcations with the Charity Commlssion orother regulatory bodles during the year or subsequently concerning Matters of non<ompliance with any legal duty. Yours faithfully Signed on behalf of the board of trustees by: Mrs R W Hughes MBE Trustee