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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 01939658 (England and Wales)

REGISTERED CHARITY NUMBER: 516786

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR PATH (YORKSHIRE) LIMITED

SCB (Accountants) Limited Chartered Accountants 31 Sackville Street, Manchester, M1 3LZ

PATH (YORKSHIRE) LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

Legal and Administrative Information 1
Report oftheTrustees 2 to 10
Independent Examiner's Report 11
StatementofFinancial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notestothe CashFlowStatement 15
Notes to the Financial Statements 16 to 25

PATH (YORKSHIRE) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31ST MARCH 2024

Dr R Raj TRUSTEES N Aslam S Bailey W Tahir M Wyatt REGISTERED OFFICE 29 Harrogate Road Chapel Allerton Leeds LS7 3PD 01939658 (England and Wales) REGISTERED COMPANY NUMBER REGISTERED CHARITY NUMBER 516786 INDEPENDENT EXAMINER SCB (Accountants) Limited Chartered Accountant 31 Sackville Street Manchester M1 3LZ

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PATH

PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

PATH's mission is to enhance the life chances of Black, Asian and Minority Ethnic communities by developing potential through challenging discrimination and by providing quality vocational training, education and career opportunities in all areas of employment to address under-representation.

To reduce inequalities in participation levels - by increasing the number of ethnic communities adults and young people in education, training and employment through relevant programs, projects and provision that addresses the barriers faced by ethnic communities and supports trainees into participation and work.

To address under-representation and discrimination in the labour market - through the provision of high quality equal opportunities and diversity training for organizations and employers; development of tailored trainee placements, preapprenticeship provision and customized employment and training provision in the private, public and voluntary sectors, measures to encourage enterprise and self-employment and through research into under-representation in specific occupational sectors within the region.

To build safer, stronger communities, promote inclusion and community cohesion - through working in partnership to deliver projects which increase the number of ethnic communities people who are engaged in active citizenship, community cohesion, promoting well-being and healthy lifestyles.

To strengthen the confidence and capacity of ethnic communities adults and young people - by delivering inspirational empowerment programs for diverse groups of ethnic communities adults and young people; establishing a ethnic communities mentoring service and through the use of positive ethnic communities role models from local communities.

To expand partnership arrangement and consolidate PATH within the operating market as a key training provider in the sub-region - by seeking to influence strategic decision makers, articulate the PATH role in contributing to sub-regional objectives and forge a new strategic partnership to seek to ensure the sustainability of PATH for the future.

To maintain high standards of responsible and timely financial management - by ensuring effective financial system and measures to maintain financial sustainability are in place.

To maintain effective governance, management and administration arrangement - by implementing new systems and processes to improve business efficiency and broaden governance arrangements.

In considering the Mission and Aims of the charity the trustees have given consideration to the guidance on Public Benefit issued by the Charity Commission.

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PATH (YORKSHIRE) LIMlTED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

OBJECTIVES AND ACTIVITIES

PATH update

During the April 2023 - March 2024 period, PATH has continued to deliver employability projects and working wish businesses to inspire inclusion and equality of opportunity across Leeds communities.

Our programs and projects aim to develop , empower and support marginalized and vulnerable migrants towards social inclusion and community integration. Our programs include training and workshops on personal development, wellbeing and confidence building. We also supported the delivery of ESOL classes and employability skills development sessions.

PATH’s Board of Trustees has continued to provide strategic direction and support in securing future sustainability. The Finance and Performance Sub-committee meetings have provided assurances to the Board on the effectiveness of Finance, Governance, Audit, Risk Management and Health and Safety. Subcommittee meetings have monitored Path’s performance in delivering its programs and achieving its targets.

This has been reflected in the continuous commitment to support the Interim CEO and PATH’s staff team to develop ongoing strategies to improve strategic planning and to adjust current practices to increase efficiency, effectiveness and economy.

At PATH, we have continued with our efforts to deliver on existing projects and secure new projects that are aligned with our values and our mission statement. We are pleased to note we have now returned to normal activities and this has positively reflected in the improvement of client starts, retention and targets being achieved.

Between April 2023 and March 2024, PATH’s staff team has remained focused and dedicated to the organization and have served its client group well, achieving a high level of performance against set targets.

During the last year, the Board has remained the same with no changes to its members and with Melvyn Wyatt as the Chair.

PATH remains committed to engaging those members of society who are considered most disadvantaged and will continue to engage with grass roots movements and with local communities.

Melvyn Wyatt Chair of The Board of Trustees PATH Yorkshire Ltd

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

OBJECTIVES AND ACTIVITIES

Programmes and Service Delivery

Here is the list of projects we have delivered during the 2023-2024 financial year.

1. PATH Better Futures Program

Workplace based training placements and volunteering work experience developed by PATH. For three decades, we have partnered with public, private and third sector employee to develop work placements as work-based traineeship with training allowance and a qualification.

During the 2023 -2024 period we have supported trainees at-

The work placements are sector-based or skills-based opportunities for participants to develop new skills and experience within a real working environment. PATH keyworkers continue to provide support throughout the placements and facilitate additional relevant training. The program also provided in-work support to ensure sustainable outcomes for participants.

As part of the Better Futures program PATH has worked with Leeds Trinity University and Leeds City Council to increase workforce diversity. We have organized activities to promote vacancies and recruitment from the local community. We have actively engaged with participants so that they were able to obtain information regarding job opportunities and were advised of the application process.

2, Adult Community Learning

This is a program commissioned by Leeds City Council (LCC) Adult Learning Team to deliver ESOL Courses for migrants living in Leeds. PATH was awarded a three-year contract to deliver from September 2022.

ACL ESOL course modules include British Values, Social Conversation, Health and Wellbeing and Employability. Tutors are qualified and experienced in delivering ESOL to a diverse group of learners. Classes are now back to in-person delivery which is preferred by our learners and our ESOL Tutors.

From Sept 22 to Mar 23 PATH has supported 167 Learners.

3. Connecting Opportunities

A Building Better Opportunities (BBO) project, funded by The National Lottery Community Fund and the European Social Fund. The Connecting Opportunities is a project working with newly arrived migrants in the Leeds City Region areas to develop their skills and opportunities in finding work and being a part of their local community .

This project came to an end in Mar 2023, through out the duration of the project PATH helped 477 individuals against a target of S01, made 518 referrals and overall helped individuals from 87 different nationalities.

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

4. New Roots (HR).

This is a partnership project that includes: British Refugee Council (lead partner), Refugee Education & Training Advice Service (RETAS), Goodwin Trust Haven and Humber Community Advice Services and PATH Yorkshire. A one-year extension for this project started on January 2023. It's funded by the Asylum and Migration integration Fund (AMIF) of the Home Office and the European Union ESF funds. The project aims to recruit and engage refugees with multiple and complex needs based in the following cities: London, Leeds & Hull. NR provided a range of holistic, intensive and enhanced support activities, adding significant value to limited refugee integration provision in the local area and improving integration outcomes. Participants benefited from a bespoke, wrap- around programme that supported integration into their host city/community through 3 stages:

1. Engage: specialist casework (move on / crisis support);

2. Connect: social integration, language & wellbeing activities;

  1. Aspire: training, volunteering and employment opportunities.

Refugee Council is the lead partner. PATH has delivered activities related to the Aspire stage in Leeds. The other partners delivering NR in Leeds are RETAS and Leeds Refugee Council.

This project has come to an end in December 2023.

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

PATH Staff Team structure April 2023 – March 2024

----- Start of picture text -----
PATH Yorkshire Board of Trustees
ee
Interim CEO
Colvyn Inniss
(FT)
|
Project Manager Project and Business
Finance Manager
Until 31/12/23 * Manager
CO
Projects
Projects
Admin Assistant FT
New Roots Connecting Opportunities
until 31/12/2023
Adult Community Learning
Better Futures
----- End of picture text -----

*From July 2023, Vernon Richardson is the FT CEO and Colvyn Inniss is the Project Manager for New Roots.

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

OBJECTIVES AND ACTIVITIES

Partners:

PATH would like to acknowledge the following organisations for their commitment and contributions towards our programs during the year.

Voluntary, Community & Faith

Private

Public & Health

Education

Investment policy and objectives

The Trustees have opted to invest part of the charity reserves in low risk deposit accounts, offering competitive credit interest rates to maximize on bank interest.

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

FINANCIAL REVIEW

The year under review for the charity closed with a surplus of £3,155 (2023 – £42,105) on gross income of £423,655 (2023 - £491,072). The financial position at the year-end as revealed by the balance sheet on page 13 shows net current assets of £331,275 (2023 - £324,815). The net book value of fixed assets held, all of which are used directly for charitable purposes, amounted to £233,164 (2023 – £236,469). In 2024 total reserves closed at £564,439 (2023 - £561,284). The Board monitors reserve levels quarterly, balancing responsible financial management with the delivery of the charity's core objectives.

Reserves policy

The reserves of the charity and the split between restricted and unrestricted funds are shown below. The Management Committee has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should cover the following:

12 months of the charities general running costs Assumes all paid training placements are fully funded by the employer Assumes no funding from Leeds City Council,

The trustees consider that this level will provide sufficient funds for PATH to continue delivering training programs until alternative sources of funding are secured.

The free reserves of the charity were £331,275 as at 31st March 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee (company number 1939658), incorporated on 1 August 1985 and registered as a charity (charity number 516786) on 1 August 1985. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Charity Constitution

The charity is a company limited by guarantee, the liability of each member of the charity being limited to the amount which he or she has undertaken to contribute in the event of the charity being wound up. Such an amount may not exceed £1.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, one third or if their number is not a multiple of three then the nearest to one third shall retire from office at each Annual General Meeting. The members to retire shall be those who have been in office the longest since their last election appointment. Any new member appointed shall retain his/her office only until the next Annual General Meeting. But he/she shall then be eligible for re-election.

Nominees are appointed by the Board of Trustees.

Organizational structure

The board of trustees, which can have up to 9 members, administers the charity. The board meets quarterly and extraordinary meetings are called when necessary to address any urgent issues.

Induction and training of new trustees

New trustees undergo an induction to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate with their role.

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

Key management remuneration

The trustees consider the board of trustees and the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. AII trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 9 and 18 to the accounts.

Trustees are required to disclose all relevant interests and register them with the Chief Officer and in accordance with the Charity's policy to withdraw from decisions where a conflict of interest arises.

The remuneration of the key management personnel is set in accordance with appropriate pay scales and benchmarking to similar charities.

STRUCTURE, GOVERNANCE AND MANAGEMENT Related parties

Any individual with an interest in a matter being discussed at a meeting must declare the interest to the meeting. The chairman of the meeting will then decide whether that individual should withdraw during the discussion and, if not, whether the individual should be entitled to vote on the matter under discussion.

Transactions related to Trustees are detailed in note 9 to the financial statements.

Employers and associated training providers are also classed as panners in the delivery of PATH training programs. The organization’s strengths are reflected through the commitment of our partnership with the placement providers and the close working relationship of our staff with placement supervision. PATH was also funded, during the year, by the Big Lottery Fund.

Path into recruitment

PATH's vision was to set up a recruitment agency as a way of generating funding in the absence of grant funding This was achieved In August 2007 by setting up a trading subsidiary, Path into Recruitment (PIR), of PATH Yorkshire. The plan was to gift aid any surplus where possible from the social enterprise to the holding company. The initial funding for PIR came from PATH as a loan and in January 2008 PIR was successful in securing additional funding in the form of a grant and loan from The Yorkshire Key Fund.

During 2010/11 a decision was taken to make the company dormant until such time as there was an upturn in the economy. It is evident that such time has not arrived and therefore the decision has been made for the company to remain dormant and be reviewed on a 6 monthly basis.

Risk management

The trustees and senior staff have maintained a risk register, identifying the major risk to which the charity is exposed. This is reviewed regularly by staff and reported to the board quarterly. Where appropriate, systems or procedures have been established to mitigate the impact these risks may have on the charities future.

Trustees’ responsibilities in relation to the financial statement

The Trustees (who are also directors of Path (Yorkshire) Ltd for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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PATH (YORKSHIRE) LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

This report was approved by the Trustees on 30th January 2025 and signed on its behalf:

_____ M Wyatt - Trustee

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PATH (YORKSHIRE) LIMITED

Independent examiner’s report to the trustees of Path (Yorkshire) Limited (‘the company')

I report to the charity trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the company for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charitable company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under Section 145 of the Charities Act 2011 (’the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145{5) (b) of the 2011 Act.

Independent examiner’s statement

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of FCA, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the

  3. accounts give a true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

7 an

Jeffrey Bor FCA

For and on behalf of SCB (Accountants) Ltd.

31 Sackville Street, Manchester

M1 3LZ

31/01/2025

Date: …………………………………

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PATH (YORKSHIRE) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024

Notes
Income and endowments from :
Charitable activities
2
Other trading activities
3
Investment income
4
Grants, Donations and legacies
5
Total income
Expenditure on:
Charitable activities
6
Net incoming/(outgoing)
resources before
transfers
Gross transfers
between funds
Net income/(expenditure) for the year/
Net movement in funds
Fund balances at 1 April
2023
Fund balances at 31 March
2024		 Unrestricted
funds
2024
£
45,955
31,255
1,590
500
79,300
121,146
(41,846)
45,001
3,155
561,284
564,439		 Restricted
funds
2024
£
344,355

-

-

-
344,355
299,354
45,001
(45,001)
-
-
-		 Total
Unrestricted
2024
funds
2023
£
£
390,310
51,662
31,255
31,669
1,590
3,273
500
1,500

423,655
88,105

420,500
101,092

3,155
(12,987)
-
55,092

3,155
42,105
561,284

519,179
564,439
561,284		 Restricted
funds
2023
£
402,967
-
-
-
402,967
347,875
55,092
(55,092)
-
-
-		 Total
2023
£
454,630
31,669
3,273
1,500
491,072
448,967
42,105
-
42,105
519,179
561,284

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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PATH (YORKSHIRE) LIMITED

BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 233,163 236,468
Investments 14 1 233,164 1 236,469
Current assets
Debtors 15 149,728 116,701
Cash at bank and in hand 548,196 697,924 404,748 521,449
Creditors: amounts falling due within
one year 16 (366,649) (196,634)
Net current assets 331,275 324,815
Total assets less current liabilities 564,439 561,284
Income funds 17
Unrestricted funds 564,439 561,284

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to Charitable companies subject to the small companies’ regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30th January 2025 and were signed on its behalf by: Hf ___ Wht M Wyatt - Trustee

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PATH (YORKSHIRE) LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalent
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(1,945)
1,590		 2024
£
(1,945)
1,590		 2023
£
£
143,802
3,274
(355)
-
143,447
404,748
548,195		 £
(47,287)
3,274
-
(44,013)
448,761
404,748

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PATH (YORKSHIRE) LIMITED

NOTES TO CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024

1 RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the statement of financial activities)
Adjustments for:
Depreciation charges
Interest received
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by operations		 2024
2023
£
£
3,155
42,105
5,249
5,153
(1,590)
(3,274)
(33,027)
(69,109)
170,015
(22,162)
143,802
(47,287)

Analysis of Change in Net Funds

Net cash
Cash at bank and in hand
Total		 At 01/04/2023
404,748
404,748		 Cash Flow
At 31/03/2024
143,448
548,196
143,448
548,196

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PATH (YORKSHIRE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ’Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Constitution

The charity is a company limited by guarantee, the Liability of each member of the charity being limited to the amount which he or she has undertaken to contribute in the event of the charity being wound up. Such an amount may not exceed £1.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis which forecasts that the charity will have adequate resources to continue in operational existence for a period of at least 12 months from the date of this financial report.

A forecast has been prepared for a period of more than 12 months from the date of approval of these financial statements. The forecast indicates that, whilst taking into account reasonable downsides, sufficient funds are expected to be generated within the charity so as to meet liabilities as they fall due.

Income recognition

All income is included in the SOFA when the charity is legally entitled to it, receipt is probable, and the amount can be measured with sufficient reliability.

Grant income

Grants are credited to the SOFA when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.

Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met.

Gifts in kind

Assets or other gifts in kind given of use by the charity are recognised as incoming resources at their estimated market value when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed ta particular headings, they have been allocated to activities on a basis consistent with the use of resources.

lrrecoverable VAT is included in the cost of the items to which it relates.

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PATH (YORKSHIRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES-continued

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the assets capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property - 2% on reducing balance Plant and Machinery - 10% on reducing balance Furniture and fittings - 25% on reducing balance

Capital grants received are deducted from the cost of the assets to which they relate. All assets are valued at historic cost.

Fixed asset investment

Fixed asset investments are recognised at historic cost less any diminution in value.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

Cash at bank

Cash at bank and in hand includes cash and short-term cash deposits.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

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PATH (YORKSHIRE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES-continued

Judgement and Key Sources of Estimate Uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, be definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(ii) Allocation of shared cost between multiple activities Support costs relate to those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. All the general support and governance costs are allocated to activities at different percentages, on the basis of staff time relating to each activity.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page | 18

PATH (YORKSHIRE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

2 Charitable activities

Trainee costs and support
Promotional events
Grants
Analysis by fund
Unrestricted funds
Restricted funds
Grants received, included in the above, are
New Roots
LASSN
LCC - Employment & Skills
ESIF - Migration Yorkshire
Re:vision
Lloyds Foundation
LCC
HKBNO1
HKBNO2
Learn My Way
Community Learning Project
Positive Youth Pathways
3 Other trading activities
Lease of office space
4 Investment income
Bank interest
5 Grants, Donations and legacies
Donations		 as follows :
Unrestricted
funds
2024
£
500		 Restricted
funds
2024
£
-		 Total
2024
£
500		 Unrestricted
funds
2023
£
1,500		 Charitable
Income
Charitable
Income
2024
2023
£
£
44,370
44,922
1,585
6,740
344,355
402,967
390,310
454,630
45,955
51,662
344,355
402,967
390,310
454,630
2024
2023
£
£
122,615
135,293
-
1,600
-
24,220
-
164,504
-
2,000
20,000
32,250
58,622
43,100
19,937
-
65,000
-
3,600
-
19,235
-
35,345
-
344,355
402,967
Unrestricted
funds
Unrestricted
funds
2024
2023
£
£
31,255
31,669
Unrestricted
funds
Unrestricted
funds
2024
2023
£
£
1,590
3,273
Restricted
funds
Total
2023
2023
£
£
-
1,500

Page | 19

PATH (YORKSHIRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

6 Charitable activities

Independent examination and other
professional costs
Bank charges
Consultancy
Depreciation
General office costs
Hospitality
Premises cost
Staff costs
Staff development and travel
Training cost
Analysis by fund
Unrestricted funds
Restricted funds		 Charitable
Expenditure
Charitable
Expenditure
2024
2023
£
£
12,660
8,271
307
278
50,737
17,503
5,248
5,154
25,966
17,703
1,877
2,090
30,278
25,574
251,130
317,515
1,067
1,755
41,230
53,124
420,500
448,967
121,146
101,092
299,354
347,875
420,500
448,967

6 Charitable activities costs

Charitable activities costs
Independent examination and other
professional costs
Bank charges
Consultancy
Depreciation
General office costs
Hospitality
Premises cost
Staff costs
Staff development and travel
Training cost		 Direct cost
(see note 7)
£
4,940
-
50,737
-
446
-
-
251,130
1,067
41,230		 Support cost
(see note 8)
Totals
£
£
7,720
12,660
305
305
-
50,737
5,248
5,248
25,520
25,966
1,877
1,877
30,278
30,278
-
251,130
-
1,067
-
41,230
70,949
420,498
349,550

7 Direct costs of charitable activities

Staff costs
Advertising and recruitment
Legal and professional
Consultancy
Staff training
Staff travel
Trainee costs and travel
Room hire		 2024
2023
£
£
251,130
317,514
446
792
4,940
3,731
50,737
17,502
658
870
409
885
41,230
53,124
-
2,000
349,550
396,420

Page | 20

PATH (YORKSHIRE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

8 Support costs

Bank charges
Depreciation
General office costs
Hospitality
Premises cost
Governance costs
Independent examination and other
professional costs
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting)
Independent examiner fees
Depreciation
Other operating leases		 2024
2023
£
£
305
278
5,248
5,154
25,520
14,911
1,877
2,090
30,278
25,574
63,229
48,007
2024
2023
£
£
7,720
4,540
7,720
4,540
2024
2023
£
£
4,750
4,540
5,248
5,154
1,069
3,291

9 Net income/(expenditure)

10 Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.

Trustees' Expenses

There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.

11 Staff costs

Wages and salaries
Social security
Pension costs		 2024
2023
£
£
226,171
289,149
15,049
17,243
9,910
11,123
251,130
317,515

The Charity considers its key management personnel comprise the trustees and the chief executive. The total employment cost of the key management personnel were £45,391 (2023: £41,213).

Reimbursed expenses, which are all subject to the Charity's process of internal controls, do not form part of remuneration and are not included above.

The average monthly number of employee during the year was as follows:

2024 2023
Permanent staff 9 15

No employees received emoluments in excess of £60,000.

Page | 21

PATH (YORKSHIRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
14 Fixed asset investmment
Market value
At 1st April 2023 and 31st March 2024
Net book value
At 31st March 2024
At 31st March 2023
There were no investment assets outside the UK.		 Freehold
property
£
415,400
-		 Plant and
Machinery
£
4,083
-

Fixtures &
fittings

£
27,316
1,945		 Total
£
446,798
1,945
415,400 4,083 29,260 448,743
181,322
4,683
-		 3,149
93
-		 25,860
473
-		 210,331
5,249
-
186,004 3,242 26,334 215,580
229,396 841 2,927 233,163
234,078 934 1,455 236,467
Shares in
group
undertakings
1
1
1

The company's investments at the balance sheet date in the share capital of companies include the following:

Path into recruitment ltd

Registered office : 29 Harrogate Road, Chapel, Allerton, Leeds, West Yorkshire, LS7 3PD Nature of Business : Dormant

%
Class of share : holding
Ordinary 100

Page | 22

PATH (YORKSHIRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

15 Debtors : Amount falling due within one year

Debtors : Amount falling due within one year
Grants and other funding receivable
Prepayments and accrued income
Creditors : Amount falling due within one year
Creditors in ordinary course of activities
Other creditors
Amounts owed to group undertakings
Accruals and deferred income
Credit cards		 2024
2023
£
£
55,286
100,464
94,442
16,237
149,728
116,701
2024
2023
£
£
5,793
2,956
4,640
4,600
375
375
353,979
188,703
1,862
-
366,648
196,634

16 Creditors : Amount falling due within one year

Included within accruals and deferred income is deferred income of £349,230 (2023: 185,203).

17 Movement in funds

Unrestricted funds
General funds
Restricted funds
Lloyds Foundation
Learn My Way
HKBNO 2
Community Learning Project
Total funds		 At 1/4/23
£
561,284
-
-
-
-
-
561,284		 Net movement
in funds
£
(41,846)
(4,142)
(92)
30,000
19,235		 Transfer
between
funds
At 31/3/24
£
£
45,001
564,439
4,142
-
92
-
(30,000)
-
(19,235)
-
45,001
-
-
-
564,439
45,001
3,155

Net movement in funds, included in the above are as follows :

Unrestricted funds
General fund
Restricted funds
New roots
LCC employment & skills
HKBNO 1
HKBNO 2
Community Learning Project
Learn My Way
Positive Youth Pathways
Lloyds foundation
Total funds		 Incoming
resources
£
79,300
122,615
58,623
19,937
65,000
19,235
3,600
35,345
20,000

Resources
expended
Movement in
funds

£
£
(121,146)
(41,846)
(122,615)
-
(58,623)
-
(19,937)
-
(35,000)
30,000
-
19,235
(3,692)
(92)
(35,345)
-
(24,142)
(4,142)
(299,354)
45,001
(420,500)
3,155
344,355
423,655

Page | 23

PATH (YORKSHIRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

17 Movement in funds-continued

Unrestricted funds
General funds
Restricted funds
New Roots
LCC Employment & Skills
Re:vision
Lassn
Lloyds Foundation
Total funds		 At 1/4/22
£
519,179
-
-
-
-
-
-
519,179		 Net movement
in funds
£
(12,987)
8,162
11,680
2,000
1,600
31,650		 Transfer
between
funds
At 31/3/23
£
£
55,092
561,284
(8,162)
-
(11,680)
-
(2,000)
-
(1,600)
-
(31,650)
-
(55,092)
-
-
561,284
55,092
42,105

Net movement in funds, included in the above are as follows :

Unrestricted funds
General fund
Restricted funds
Connecting operations
New roots
LCC employment & skills
Re:Vision
Lassn
Lloyds foundation
Total funds		 Incoming
resources
£
88,106
164,504
135,292
67,320
2,000
1,600
32,250

Resources
expended
Movement in
funds

£
£
(101,093)
(12,987)
(164,504)
-
(127,130)
8,162
(55,640)
11,680
-
2,000
-
1,600
(600)
31,650
(347,874)
55,092
(448,967)
42,105
402,966
491,072

Transfers between funds

Where an element of central and specific overheads/staffing costs which are initially recorded within general funds relate to restricted projects, an appropriate transfer from restricted to unrestricted funds is included within the accounts.

Restricted Funds

New Roots – This restricted fund is for a project to recruit and engage refugees with multiple and complex needs to integrate into society.

LCC Employment & Skills – This restricted fund is for supporting work placements of young offenders.

Re:Vision – This restricted fund is for a project to support new trainees.

Connecting opportunities - this restricted fund is for working with new migrants from Leeds City Region areas to develop their skills and opportunities to find work and be part of the local community.

Page | 24

PATH (YORKSHIRE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31ST MARCH 2024

18 Related party disclosure

There were no related party transactions for the year ended 31st March 2024.

19 Share Capital

The company is limited by guarantee and does not have a share capital divided by shares.

Page | 25