REGISTERED COMPANY NUMBER: 04275541 (England and Walej) REGISTERED C1[ARy NUMBEIL. S19835 Audited Financial Statcmcnts for the Year Endcd 31 Au st 2024 Alt Vall Communi TNst Limited MAR Kilshaw Limitcd 99 stleY Road Btle Merscyside L20 7DA
Alt Vail Communi Tht Limit Financial f rth Y rEnded31 5t 2024 R¢port of the Trustees Rqth of the Independent Auditors 8 to 11 Statemfflt of Financial Activities 12 Balpnce Sheet 13 to 14 Cash Flow Slaternent 15 Notes to th¢ Cash Flow Slatement 16 Notes to the Financial Statements 17 to 26
Alt Vatl Comrnuni Trust limited 'stered number. 04275541 th¢ TnLSt r the Year Ended 31 A 24 The trustees who are also directors of the charity for the purposes of the Cornpanies Act 2(K16, present their ryrt with the financial statements of the charity for the ye8r ded 31 August 2024. The l]ustees have adopted the provisions Df Accounting and Reporting by Charities.. Slatement of Re¢Otnlllld Prtice applicable to charities preparing thfflr accounts in accordance with the Financial Reporting Stallda applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Objeetfv aDd aln Alt Valley Community Trust (AVCT) is a Social Busine55 b&%ed In The North E&8t of Livcrpool. It seTves sevelal clectoral w3r&s experiencing significant social and economi¢ challenges (as identified by the Yndices of Multiple Deprivalion). It founded &8 an Educational Charity in 1988 but has since developed into a rnulti-facded anchor OTganisation contributing to Individual Well- Being and sustainable Communitie& Vision Sustainable cornmunitie8 where cvcrybody achievcs their fLdL potcntial and Icads happy, hcalthy atd fvlfillcd Iiv&g, Mission We bring about positive Change in Ait Vailry and the wider community by developing innovative partnerships to rnaximise opportunities in community gagemen¢ education and trainin& sport 8nd wellbein& and biness and entery>rise. Th¢ tlwity's re objectlveg are: l) To contiibute to the crcation of sustainable commtLnitics. 2) To provide eAlu¢ation and leisure trnining facilities to enable people to acquire and d¢vel(y v(Kational skills. 3) To train and educate pw)le through their leisure tirne activities so their health and wellking and rmditions of lift rnay b¢ irnproved. The ¢harity'S objtiveS are prornoted through 4 key operational areas namely" - Businc85 and Ernploymcnt . Conununity Devclopment - FAlucation and Trdining - Sports and Wcllbcing Publlc benent Avcf was eslablished to provide a range of services to address disadvantsge in the Alt Vallry and surn)unding neig10Urh0OdS of Liverprmjl. Our activities are intended to improv¢ access to education and trainin& support for ppIC cnterin8 cmployrnent and to provide cornrnunity faciliti&4 and well-being activitie4 all of which build a sustainable AVCT h&$ grown to be one of the biggest social enterpris4 comrnunity organisalions in LiverpooL offering a UDique rangc of services and facilities. AVCT has contracts with L1veryKl City Cw¢il for the delivery of education and SPOTts activitics, the ESFA for the delivery of vocational training and taken over the management of som¢ Cily Council community &ssets to keep them open and to maintain local s¢rvic&8 for local po)ple. Not Only has local ptQVi5ion been retained. the f(M)tfall and the community use h&s in¢reas&1. Av is increasingly being called on to provkde additional support to local community organisations to keep them going. This includes providing advice. staff expertise and affordable ofFice and meeting spac& The range of service re8OUTCeS, partners and experience made Avcf an invaluable ru)urce for the north east of the city. The TLUSt's key role a5 the main 'Anchoe organisation for the Alt Valley communities now extends to the North East wards of Yew Tffe and Knoty Ash as wcll a8 Croxteth. Norris Green. Clubmoor and Fazakerley. Page I
Alt Vall Communi Tnjst Limited isternl nurnber: 04275541 ort of the TNstees AClllEvEmEf AND PERFORLWCE chlble a¢tivitie¥ The p)licios adopted in furtherance of these objectives arc reviewed on an annual basis. The Company ensures that robust monitorin& evaluation and review pr¢$ are in pLace to evidence the impact and ¢ffwtivene&s of our community f(ed worlL Governance The tTUStces have paid due rcganl to guidancc i&sucd by the Charity Commission in deciding what activitie5 the charity should PUTSUe. All company policies were rcviewcd, updatcd and internal fmancial controls for charitie5 documentation complcted at th¢ AGM on 18th May 2024. T1¢4$ have a150 ensured that they havc greater insight into operations and dclivery by conducting sitc Visits to examine pn)8rcss and discuss i&sues with staff. Staff And MAnAgement Two consultants 1$1 senior staff and Trustees in developing plans for the The Executive Dirtor along with the Assistant Chief Executive retain an overview of all Thjst activities including finance. Staff rc-stnthring is a permanent feature of th¢ organisation and a pre-requisite for adapting to changing t%eds and contexts. Community devdopment All of Avcfs Community hubs have youth and elderly focused provision. Both youth and elderly initiatiVa8 have sttured exceptional progress from a standing start wsition. - Ellcrgre¢n ccntrc is full to capacity with nine partners in si, it is the for th¢ 8uccessfiJl DWP YoLLth Hub who recognised that young people preferred community fUSed provision to DWP offices. Hope University s(Kial wot* 8tudcnts sUprt qcrvicc users. Staff have devised detail c&s¢ studi&5 of how hard to rwh young pwple with incrc&%in8 mcntal health need5 have been 8UPPOrted. Intensive intervention is rquired so arts and creative opportunities provitsj as a means of improving Confidence and self-esteem. DWP commissioned reseenh circulated on 1st August 2024 highlighted the positive impact of Avcf's youth hub in supporting young people into employment. - Dovccot hub, Th¢ cornmunity café and library have been merged to utablish an older pwsons, hub space. The sports fLlIty has bttn rea0 and managed by AVCT'$ Swrts c¢ntre staff. The the&tr¢ space is being developed. . LibrleS arc still operational but with reduced hours a result of financial constraintslinadequ8te grant frorn LCC. Breck Road is the busiest base and now h&8 a high percentsge of BAME Service users so this IUe is being addresse(L It is becoming inerwinEly challenging to run ea¢h of our three libratie$ with a support grant of 55k per annum. - Communiversity h&$ tw fold provision as the educ&tion base and community hub. Successful grant applications (Trailblazer Music) provided innovative creative projects such as young pwles, music, community p(Mk&sts and drama opportunitics. The creative strategy h&$ proven to be very effective in encouraging people back into comrnunity hubs and OUtreh youth work is developing well. Sports & well41eiDg ¢entre - Increasing footfaLI has been secuThl through initiatives such as holiday play heM&S for young pu)ple. Av has refurbished the centre and Walton Sports Ccntre Continu to be a vibrdnL busy, inclusive facility with VACePtional ¢ommunity 5UPWrt. One significant and recurring challenge is to address the pcK)r fabric of the building as the rf and orts hall floor need replacing (LA had previously plcdga to thesc at the point of managrnt trdnsf¢r) . More pern)erships have been developed witb health care sttvices. Edu¢YdtiOll Page 2
Alt Vall Communi - The constantly shifting ducation landscape requires continuous review. Currently have approximately 120 learners on programrnes fuftd by loans, and Include IT- Mersey proJt to promote digital Inclusio Traineeships are no longer available following a change in Government policy and level 2 progrdmm&s of stLLdy will be defunded in the near fikn. The thision to withdraw from thc apprcnticc5hip contract was taken due to exc1ve bureaucratic demands. The rillIng ¢ontra¢ts are well managed and fLLnders arc continually incrc&sing compliance and administrative proc¢duffs. Wc anticipate Ixing offered growth to ddiver the adult Icarncr loans contract. Monitoring visits from Otsted confim t[t renable prog$$ is being made towards 5ccuring identified improvcmcnt ar. Adult Learning SVIce contracts saw Avcf delivering courses for the l9+ a8e rdn8e in Croxteth and Yew Tree. To date all targets have been et and quality of provision cited in varii)u8 documents such as an Ofsted Consultant's observation rq)ort& Pagc 3
It Vall Communi Tnjst Limited istered numb¢r'. 04 7554 f t i. the Year Ended 31 Au st 2024 FINANCIAL REVIEW FiDall¢i position The Tntst continues to operate extremely tight financial margins. All financial years are equally challenging public funding continues to be put under incre&sing preure. The Finan¢¢ Manager ensures Ih8t rigorous systems are applied to secure efficiencie4 value for money and contract compliancc. In summary there is total incoming resources in the acc4)unts for year ended 31 August 2024 of £2,117,711 wlth expenditure on ¢haritabl¢ tIvItieS £1,700,614, therefore net income of £417.097. Although the net Income Ydbove Is £417,097, per note 3 And note 9, we recelved £654J07 from th¢ YDUtb Investment Fund whlch w48 provlded 8pedficaliy to conthl)ute towards the refurblshmellt of bulldlw and the provlslon of youth en%a8ements activitles. In a¢eordance wlth the terms of the grant, £456,001 wa8 8p¢nt In this perlod to fund youth fo¢uJed cpital improvenwits (nots 9) and the remalnder on youth provision Aero98 four centra. Since these costs are capital in nature, they arc not shown within the Statement ot Tr.inalal Activities in the yv4r they were incuTred. bul rathcr are gradually 'drip-f¢d' through the Incornc Statcrncnt ovcr time by way of a deplatIOn charge. Accordingly, whilst the Statement of Financial Activities shows a surplu5 for the ycar within Rcstricted Funds of £496,108, this is made up of tangible assets (specifically Fttehold and Leasehold propety) and not liquid cash. Subsequent to the year4 we reeeived corrwondence from Liverpool City Council in rdation to a claim for hi5toriGal PTQPty costs relating to Breck Road Librdry and WaLton Sports Centre. The amount bcing pursued by LiveTpJoI City Council is disputed by . as is the mcthod of calculation, and fijrther evidence lo substantiate the claim has been requested. While we await fjjrther evidence it is impracti¢able to eximate the financial effect of the contingcnt liabiLity. In ternis of the ch8ritys unrestricted fund8, the Statcmcnt of FinenciaL Activities shows thal there was a deficit for th¢ yeAr of £79.01 I vknich has reduced the clwity's general fund a¢¢ordingly. Vhilst incrc&%ed costs havc affcctcd service provision we continue to provide Servic that offer cxcmpiary value for money. Next fllwicial ycaes forecast will include anticipad losses of revenue, however we anticipate growth going forwar(L We nploY 30 staff and have a strong forward plan which puts Avcf and pathers in a good position to respond to community need and provision of s¢rvice4 in the futuff. The SLT have developed improved systems and proce$ses to ereate synergy between projects and their ndIng streams. Ncw pr(Kedures have 5trcngthened th¢ ilnpart of initiatives wch &s dderiy. creative and youth hub4 similarly financial monitoring h&s SeCud increased effectiven& Youth Invtellt Fund tn 2023 Av became th¢ first successful recipient of a ricted £2.6 nillion wt from tILC Youth Tnvastment fun solely for youth uSed capital improvements and to provide engagement activities for young pcoplc across four siles. . The Communiversity Hub. Outdoor theatre/perfomiance area with stage and seating training kitch, rwordin8 & podcast stud, music rehearsal room& solar panels. toilets and creative café. - DoveLot MAC Hub. Kitchen has been extended and refurf)isl Solar panels added and a large multi-activity rwrn for music and ¢reative/theatrfrbased use. Refurbishment of the gynspOrts hall. - EIIcTgre¢n Hub. Youth hub multi activity room, solar panels, training kitcha4 offices. interview room and reception upgradcd This building has MO confined space so possible fUtll expansion required. - VNC Hub. Ncw reception arw redesied and rcfutbi5hcd areas for youth provision including dce/perf0rncc studios, bowling green a new outd(M)r sports base, solar panels, café, kitGILW tnulti-function areas. A range of activities were plann&1 and young pecyle drove the agenda for provision which includes music, dram podcastin& rOrdIng Studio dance, perfonnance and 8POrt. AVCT wffe the first YIF (Youth Inva%tmcnt Fund) ipient to complete provision hence on 1st August 2023 we hosted a Ministerial visit to The Communiversity (Lucy Frazer. secretary of st*e for Culture. Media and Sport fonnally 0[nl the serYic&s). Pagc 4
Alt Vail Communi Tnt Limited rt ftbeT es r thL Year Ended 31 Au FINANCIAL REVIEW Reserves policy The TnCeS have essed the major nsks to which the charity is exposed. and ar¢ satisfteA1 that systems are in place to mitigate exposure to the tnajor risks. The Trustees relarlY review the finance5 and budget fotccasts in th¢ ¢ontext of an ever changing environment and monitor thc Trust's working capital requirements. In line with Charkty Commission guidance, the Thtee6 believe a good reserves policy heIps the organi5ation to bc prepared to deal with unforeseen erncrgencics or other Unexpect needs for fimd%, such as an uncxpecta large repair bill. There could also be a need to fund short-tern] deficits in a cash bud8Ct wh¢reby moncy necds to bc spcnt kfoT¢ a fimding grdnt is received. The TNsteffj in line with Charity Commission guidanc£ have therefore tablished a reservcs policy whcrcby the LU)restricted fvnds not committ1 or invested in tangible assets held by the Charity should bc approximately cqual to three months of expenditure at currcnt levels. The TNstees are actively planning to build towards the sfated level of serves, Pgrtnerships AVCT continues to work in collaboration with a rdnge of partners including the City Council. LivcrpcN)I City Regio s(Kial hOing providtts kry scrvices and most imwrtantly Il81 eommunity ¢)rganisations. We are fully con)mitted to partnership working and this aspect is always an Inteal part of our work. The Trnst continues to develop its work in the widcr community. buildtng on its successful PaerShipS with N¢ighboUrhC Savices Company, and Vauxhall Neiglthurh(N)d Council. AVCT h&s close w1n8 relationships with sevcrai Univcrsities sucb as Solent (underduate work experience), Hope University (social worker plac¢ments), Edge HILI University {stsdent nurses placements) and The University of Cambridg¢ (researching the impact of austcrity and Iwai support in Liverpwl) VNC As manaEemei)t agents we have arrested the deterioration and decline in provision by rationalising the premise5. A range of serviccs are now e8tablished including activities for the Elderly, youth facilities, adult learning classes, food panty pjeCt and holiday ptay hemes. This 18 a rnajor community projcct requiring further thought and partnehIp work with organisations sueh as Everton in the Community. The area needs a Community bas¢ Eiven that g) mY community- focused organisations have closed. Our work and rc5ponsibilities &8 a Community Anchor organisAtion will continue to be the main driver influencing our future strategies for community wtainability and well-being. STRUCTURE, COVERNANCE AND MANAGEMENT Governing document The Lharity is conlrollal by its governing dLxumenl a deed of trnst, and nstItUteS a limited companyy limited by guarante4 as defined by the Q)mpanies Act 2(M)6. Recndtment and Ydppolntnwit of truste As set oul in the Articles of Awxiation there will be a rninimum of four trustCC5 and no morc than 5cvcntecn. When considering the appointment of tnLStees the Board has tt8ard to the requirnent of any specialist skills needed For cxarnplc M. L Baugh is an experienced Early Years PtItIoner with a Safeguarding Specialism and she joined the board to assist in this Kgard in the delivery of the education and training progrdmtnes for the chatity. None of the trustees h&s any beneficial interest in the company. All of the tnjsttts aTe members of the company and guarantee to contribute £1 in the event of a winding up. Page 5
Alt Vall commu1 Trnst Limited ered number: 04275541 RUCTURE, GOVERNANCE AND MANAGEM OrgaDi5ational structure The board of truste. which can have up to 17 mernber4 administers thc charity. The board norniaLly meets quarterly and thcrc are link directors who liaise with the Education and Training. Community DcvcloptTLcnL Sport and Well Being and Business and Employment ManageT& A Chief Exe£utive is appointed by the trustees to manage the day to day opcrations of the charity. In order to facilitate effcctive opcration8 thc Chicf Executive has dclcgat(xl authority, Within ternis of delegation approved by the trusttts in otKratiotMI matters including financ4 employrnent and programrnc delivery. New tJuste¢s undergo an induction proce lo ensure they are aware of their legal obligations under charity and wmpany law, the Charity Commission guidance on publi¢ benefil and inforni them of the content of the Memorandum and Articlcs of knciation as well &8 tbc recent financial fOllnanCe of the charity. Trnstees will meet kny employce9. other trustees and are encouraged tt> undertake appropriate external training to help facilitate the undertaking of their rol The Chair of the Board is completing a $kill8 audit to en8ure that bespoke wpport and training 1$ provided to ail truste¢s 2nd that a range of governance competcncies are in place. Rtsk mAnagenllt The tNstees have a dury to identify and review the risks to which the charity is exposed and to ensure appropriate L¥mtrols aR in place provide reasonable assurdnce against frdud and error, The truste4s have assessed the rnajor risks to which the charity is exposed, and are satisfied that systems are in place tr> mitigate exposure to the major risks. REFERENCE AND ADMtNISTRATIVE DETAILS Regl8tered Company number 04275541 (England and Wa]es) Regirt¢r¢d Charity number 519835 Rstered offlee Communiver5ity Allcro Housc Alicross Road Liverpool Merseyside LII OBS Trnstse$ Ms A M Mason Mrs L A Baugh Mr G Brennan Mr A Jennings Dr B MctX)nough A L Rimmer Ms S A Swe¢ney Mr R Mer&Jith Mr P J Hton Ms P Thornley ConWY S¢¢ret4ry Ms S A Sweeney
Altv ber: 04275541 REFERENCE AND ADM]MRATIVE DETAILS Auditor5 MAR Kilshaw Limited 99 Stwdey Road Boolle Mersey8id¢ L20 7DA STATEMENf OF TRUSTEES, RESPoNSIBILlEs The trustees (who also the directors of Alt Valley Community Tn& LimiteA for the puTse5 of company law) are r081ble for prepartng the Report of the Trustees and the financial statements in accordance with 8pplicable law and United Ktngdom Accounting S&indards (Unit&l Kingdom Generally Accepted Accounting Practice). Company law requires the tnLSte48 to prqwe financial statements for each fmancial year which give a tnte and fair view of the srate of affairs of the charitable eAThpany and of the incoming reSoUS and application of resoureLs, including thc income and expendityrfy of the clwitable company for that period. In prepwing thos¢ financial statement4 the trustees are rquired to 8elKt 5uilable accounting wlicies and then apply them ¢onsistentlyi observe the methods and principles in the Charity SORP; makejudgements and estimates that are reasonable and prudenL' prepore the fineneial $tat¢m¢nts on Éhe £oing concern b1$ unless it is inappropriat¢ to presum¢ that the Cbaritable company will continue in business. The ttustees ar¢ responsible for keeping proper a¢¢ounting records whi¢h di8clos¢ with rea9Xble accuTacy at any time the financi81 positioTh of the charitable company and to enable them to ensure that the financial 8tatements comply with the Companies Act 20CIfj. They are also responsible for safeguarding the assets of the charitable company and for taking &sonable step$ for th¢ pr¢v¢ntion and deteeti¢)n of fraud and other intgulariti¢$. In so far as the trustees art aware: there is no relevant audit infornution of which the chwitable companys auditors are Una and the liiistees have tak¢n di that they ought to hav¢ takffl to make th¢ms¢lves awar¢ of any T¢l¢vant audit infom)ation and to establish that thc auditors arc aw of that information. AUDITORS Thc audito, MAR Kilshaw Limited, will be Proposcd for rc-appointmcnt at thc forthcomin8 Annual Gcncral Meetin8. This rq has been PrePed in accordance with the special provisions of Part 15 of the Cornpanies Act 2006 relating to small companies. Approvuj by order of the board of tsustees on ...,..o.l.-, ..o..E,.-,gs..,. gnd signed on its behalf by: Mrs L A Baugh- Trustee Pagc 7
of the Ind ndent Auditors to the Trustees of ni Limit Itv Oplnlon We havc audited the financial statements of Alt Valley Colllmunity Trust Limited (the 'chantable company,) for the year ended 31 August 2024 which comprise the Staternt of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the fiT)ancial statcment4 including a Surnary of significant accounting policies. The financial reporting frnmewot that has been applied in their Prwation is appIlble law and United Kingdom Accounting Standarth (United Kingdom Generally Accepted Accounting Prncticc). In our opinion the financial statcmcnts: give a true and fair view of the state of the charitsble company's aftairs as at 31 August 2024 and of its incoming regources and application of resources. including its income and expenditure, for the year then cndcd. have been prowly prEpared in accordance with United Kingdvtll Gcnerdlly A¢¢epted Ac¢ounting Practi and have been prepared in rdall¢¢ with the rcquirement8 ofthe Compatii&s Act 2006. BAsli for op]n]n W¢ coDducted our audii in a¢¢ordance with International Standard5 on Auditing IUK) USAS (iIK)) and applicable law. Our [SOnsIbl11t1¢8 Ulth those standards are further d&scribed in the Auditors, responsibilities for the audit of the financial statements se¢tion of our report. We independent of the clwitabie company in accordance with the dhical requirements that are relevant to our audit of the finanoial 5tat¢ments in the UK including the FRC5 Ethical Standard, and we have fulfilled our oth¢r cthical responsibilities in accordance witk these requirements. We bclicvc that the audit cvidcncc we have obtained is sufficient and appropri to provide a b&sis for our opinion. CoThdusion$ relating to golng concern In auditing the financial statement& we have concluded that the trustees, usc of the goinB concern basis of accounting in the preparation of the financi81 statements is appropriate. B&5ed on the work we have perforne we have not idenlificd any matcrial uncertainties relating to events or conditions that, individually or collectively, may cast significant dcMJbt on the charitable company's ability to continu¢ &8 a going eA)ncttn for a period of at le twelve months from when the financial statements are authorised for issue. Our resp)nsibilities 8nd the rcsponsibilitie8 of thc trustccs with rw¢¢t to going pJ)n¢¢rn ar¢ de8¢ribthl in the rel¢v8nt sections of this rqrt. Emphasls of matter We draw attention to Note 15 in the fin8n¢ial statementy which de5cribcs a contingcnt liability relating to Livcrpool City Council seeking to recover hi5tori¢al propety c05tS. As at thc datc of our r¢poTL no follnal legal Claim has been madq and the outcome remains uncertain, opinion is not m(Mlified in reSpt of this matter. Otlv Informadon The ttustees arc r$Ible for the other infornution. The other information comprises the infonnation included in the Annual Report, other than the financial statements and our Report of the Independa]t Audit¢)ts therwn. Our opinion on the fmancial staternents d4 not cover the other inforrnation an exw to the extent otherwise explicitly stated in our repoTL we do not expre any fortn of UranCe wnclusion thereo tn ectIOn with our audit of the financial statemcnts, our rsibility is to TeAd the other infornmtion an(l in doing so, consider whether the other information is 1&llY in¢onsis¢¢nt wilh th¢ financial statements or our knowledge obtained in the audit or (*herwise appears to be materially misstated. If we identify such material inconsistencies or apparent m8terial rnisst8tements. we arc rquired to dctuminc whether this gives rise to a material rnisstatement in the financial 5tatcment5 then1ve5. If, ba5cd on thr work we have perforn]gJ, we cOlUde that there is a material mi&statemcnt of this othu infonnat10 wc are required to report that facL We have nothing to rep)rt in this re82rd. Pag¢ 8
ort of th¢ Ind Alt Vall Cornrnuni TDJst Limited Matters on whichwe are requtred to report by exceptton We have nothing to report in respect of the following matters where the ChaTities (Accounts and Rcport5) Regulations 2008 rcquircs us to report to you if, in our opinion.. the information given An the Report of the TNsttts is inconsistent in any material respect with the financial statements; or the chariiable ¢omp8ny h&$ not kept adequate accounting rccords" or the financial s&tements are not in a8reement with the accounting re¢ords and rdurns. or we have not itLeived all the infomation and explanations we require for our audit, Responslblllttes of trustee5 As explained more fully in the Statement of Trustees, Responsibilities the trusteeg (who are a]so the directors of the chAritable company for the puo)oscs of conu)any law) ar¢ responsible for thc prcpalation of thc financial statfflients and for being satlsfied that they give a true and fair view, and for such internal control as the trustees dctrninc is necessary to enable the preparation of fanCIaL 8taternents that are free from material rnis8tatcmenL whetber due to fraud or effor. Jn PTcpaTing the financial statcrnents. the trustees are rwn5iblc for asscssillg thc charitable companls ability to continue &$ a goin8 concern, disc105in& as applicable, matters related to going conccrn and using the going concem basis of accounting Unle the tnjsttts either intend to liquid* the eharitable company or to ccasc operations, or have no realistic altcrnativc but to do 50, Page 9
of the In cndent Auditors to the Trustees of Alt Vall Commiini Our respons1lJIt5¢s ft•r the audlt of the fiDcIal stAteDllts We bave been appointed as auditors under Section 144 of the Charities Act 2011 and rewrt in accordance with the Act nd relevant regulations made OT having effXt thereunder. Our Objectiv are to obtain re&gonable &wrance about whether the financial statements as a wttole are from material misstatement. whether due to fraud or error. and to issue a Report of the tndfpcndcnt Auditor5 that includcs our Opinion. Reasonable assurdnce is a high level of assurance, but is not a guarantee that an audit conduc1 in accordan¢e with ISAS (UK) will always dde¢t a material mi5Statement when it exists. Misstatement5 Can arise from fraud or error and are considered m¢rial if, individually or in the aggregate, they eLiuld reasonably be ffApecta to influence the economic decisions of serS taken on the b&8is of these financial statements. Tbc extent to which our procalures are capable of drtecti ieBUIarits4$, including fraud is detailed below.. We identified areas of laws and regu18tions that could rca%onably be vxpeded to have a material effect on the financial statcments. from OUT g¢n¢Yal ¢ommercial and sector expcricnce. and tlwough discussio with the ttilstees (as rcquired by auditing standards) and discu&8ed with the trustees the policie5 and prcttdures regarding compliance with law8 and rcgulations. We communicated identified laws and regulations throughout our tearn and rc[nai alert to any indications of nonwcompliance throughout the audit. The potential effect of thcsc laws and regulations on the financid ststcments varies considerably. Firstly, the company is SLtbject to laws and regulations that dirtttly affect the financial statements including fllwicial reporting Iwslation and taxati¢)n legislation. We aS8&yd the extent of compliance with these laws and regulations as part of our pr0ccdUr on the related financial statement items. Secondly. the company is subjcct to many other laws and regulations where th¢ consequenc¢5 of noncompliance could have a material effe¢t on amounts or disclosur&s in the financial statements., for instance through the imposition of fines or litigation. We identified thc following ar &s those most likely to have such an eff1. Charities Act 2011, Health and Safcty at Work Act and Ernployment Law. Auditing standards limit the required audit procedures to identify non-conwliance with these laws and regulations to enquiry of the dirtorS and inspection of regulthry and legal corr¢bpond¢nK if any. Through these procedures we did not beu)me awarc of any actual or suspected non-compliance. Owing to the iTtherent limitation5 of an audil there is an unavoidable risk that we may not have dete¢t&l some m8terial misstatemenLs in the financial statements, even though we have properly plat1 and performed our audit in accordance with auditing Standa8. For exampl< the fithher removed non-compliance wtth laws and regulations (irre8ularities) is from the events and transactions reflected in the financial statcmcnts, the less likely the inherently limitcd proccdurLq rquired by auditing standarib would identify it. tn addition. as with any audit, the remained a higher risk of non-dete£tion of irregularitic4 &s thcyc rnay involve collusion, forgery. intentional omissions misrepresentations, or the oveffide of intenmi conlrols. We are not rwonsible for preventing noncompliance and carmot be expected to detect non-¢ompliance with all law8 and regulations. We design procedures in line with our responsibilities, outlined below to detert material rniss¢at¢ment due to fraud: . Mutters are discu&sed amongst the audit engagement team regarding how aThd where fraud might occur - Identifying and &ssessing the d18n and effectiveness of Controls that management have in plaee - Detecting and rfsponding to the risks. of frdud following di5CU5sions wilh llmnagement, A further description of our rwonsibilitids for the audtt of the financial statements is located on the Financial RqK)rtin8 Council's website at www.frc.org.uklauditorrynsibilities. This dcscription forms part of our Repoil of the tndependent Auditors. Page 10
rt of th¢ Ind ndent Auditors to the of Alt Vall Comrnuni Trust Limited Use of our report This report is made solely to the charitable company's trustee4 as a body, in accordan with Part 4 of the Ch8rities (Acwunts and Rcports) Regulations 2008. Our audit work bas been utLdertaken so that we might state to the ¢haritablc company's ttustees those matters we are rcquircd to state to them in an auditors, report and for no other purpose. To the Ilest extent pennittcd by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's tn]stea8 as a body? for our audit work, for this TeporL or for the opinions we have forne i£É £1 L£Y LsEnJiA sfATi/wfy rtL4•OJTo£) MAR KiLshaw Lirnited Eligible to act as an auditor in ternis of Section 1212 of the Companie8 Act 2(M)6 99 StleY Road Bcrf)tlc MseY$ld¢ L20 7DA 07.Of. 20 Pagell
Alt Vall Cornrnuni .Thist Limited tatement f Fin2nci Activities f r the Year ETJ 31Au 2024 31,8.24 Total 31.8.23 Ut]restricted funds RestricteAI fid8 fun&$ Note5 INCOME AND ElmENTs FROM Donations and legacids 110,524 Charftabk a¢t8 Spotts and wcllbein8 Education Community gagement 147511 444,017 401524 147511 571 J27 1,356,322 126,570 612,242 2,616.261 127,310 954,798 Other income 42,551 42,551 19.105 Total 1.035,603 1,082,108 2,117,711 3,484,702 Charitable activits Sports and wellbeing Education Community en8agernent 165519 498,455 450.640 165519 740,170 794.925 150,611 718,127 793,438 241,715 344,285 Total 1,114,614 586,OCKI 1,7(K),614 1.662,176 Net gain(lo58) ¢)n inv¢stm¢nts (81,977) NET INCOMEI(EXPEI¥DITURE) (79,011) 496,108 417,097 1,740,549 RECONCItJATION OF FUNDS Total funds brought forward 2260280 3,686,025 5,946,305 4,205,756 TOTAL FUNDS CARRIED FORWARD 2,181269 4,181133 6,363,402 5,946J05 The notes forn] part of thcsc fmancial statements Page 12
Att Vall Communi Tn Limited Ba]anc IAU 31.8,24 Total filnds 31.8.23 Total Unrestricted funds Restricted funds Note5 FIXED ASSETS Tangible assets Social invc¥ttnents 1,942,986 23 4,026,021 5,969,007 23 5,644,935 23 io 1,943.CK19 4.026.021 5,969.030 5,644,958 CURRENf ASSETS Debtors Prepayments and accrued income Cash at bank and in hand li 351,973 6,971 147,091 351,973 6,971 303203 264272 6,313 252279 156,1 12 506.035 156,112 662,147 522.864 CREDrroRS Amounts falling due wiibin on¢ y¢ar 12 (267,775) (267.775) (221,517) NET CURRKNfASSETS 238260 156,112 394,372 301J47 TOTAL ASSETS LESS CURRENr LIABILITIES 1181,269 4,182.133 6,363,402 5,946,305 NET ASSETS 2,181269 4,182,133 6J63.402 5,946J05 FUNDS Unrcstricted fimds Restsicted funds 14 2,181269 4,182,133 2260,280 3,686,025 TOTAL FUNDS 6,363,402 5,946.305 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2(M)6 for the year ended 31 August 2024. The membth3 have not deposited notic4 pursuant to Section 476 of the Companies Acl 2006 requiring an audit of these finan¢ial statements. The trustee8 acknowledge their responsibilities for (a) ensuring tlut the Chatitable company keeps accounting record5 that Gomply with knions 386 and 387 of the Companie5 Act 26 and preparing financiAI statements which give a trnc and fair view of the state of affairs of the charitable company a8 at the ffld of each fmancial ycar and of its surplus or deficit for each financial year in accordance with the requirements of Se¢tions 394 and 395 and which othcrwisc comply with the requiranents of the CompaniGs Act 2006 relating to financial Statements. far applicable to the charitable comp8ny. (b) These financial statements have bcen audited under the rcquirements of Section 145 of the Charities Act 2011. The note5 forni part of tlKse financial statements Page 13
Alt Vau Communi Tn Limited Balance Sheet- continue These financial statements have Ln prep in xcordancc with the PTovisions applicable to chaTitable compania8 subject to the small companies regime. The fthanciat statements were approved by the Board of TtU5tccs and authoriscd for issue on O.n-.0.3--.&.S and were signed on its behalf by.. Mr5LABaugh-T The nrtes fonn part of thcsc financial statem Page 14
Alt Vail Cornrnuni Tnjst Limited ash Flow Statement rthey En IAU 24 31.824 31.8.23 Noles Cash tIow5 from operating AedtIeS C&sh generated from operations teTest paid 613,546 (2,238) 1,679,829 (6,855) Nct cash provided by opcrating activities 611,308 1,672,974 Cash tlowj from Inveltlng grtivits¢s knh&8e of tangible fixed assets (456.001) (ICK)6,675) Net c&sh used in invasting activities (456,001) (ICK)6,675) Cash flowi from finandllg acdvitie Loan rwaym¢nts in year (I04,383) Net cash (U inyprovidol by financing activities (104,383) Change itt ea8h Ittd equivaknts in the reporting perlod Ca8b and cash equfvalents At the begiDning of tkn reporting peri(41 50,924 (333,701) 252,279 585,980 Ch ra¥h equivalents fdt the end of the reporting perlod 303,203 252279 The notes fonn part of these financial statanents Page 15
Alt Vall Communi ThLSt Lirnited Notcs to the C&sh Flow Statement RECONCILIATION OF NETINCOME TO NET CASH FLOW FROM OPERATING ACTIvrfiES 31,8.24 31.8.23 Nrt InMe for the reportlng perlod (ai per the Statemtnt of FAnAnclal Acdvltles) Adiustm¢ntg for: Depwiation charges Lo&ses on investmt$ Interest paid tncrease in debtors tn¢re&seJ(decrwe) in creditors 417,097 1,740,549 131,931 131.884 81,977 6,855 (10,243) (271,193) 2,238 (88J59) 150,639 Net cash provlded by operatioD5 613,546 1,679,829 ANALYSIS OF CHANGLS IN NET FUNDS At 1,9.23 Cash flow At 31,8.24 Net caih Cash at batth aTLd in hand 232279 50,924 303,203 252279 50,924 303,203 Debt Debts fallin8 due within l year (104,381) 104.381 (104,381) 104,381 Tot 147,898 155J05 303,203 The notes fottn part of th¢ financial statements Page 16
Ttust Limitcd to the Financial f the Year Ended 31 Au st 2024 ACCOUNTING POLICIES Bgsls of prepArlng the lIne121 Statements Tr rinanciai statejncnts of the charitable company, which is a public bcncfit entity under FRS 102, have been prepared in xcordancc with the Charitics SORP (FRS 102) 'ACC1ng and Reporting by Chatitia5: Statcmcnt of Recommended Practice applicable to charities preparing their accounts in accA)rdance with the Financial Rcporting Standth applicable in the UK and Rcpublic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicablc in thc UK and Republic of Ireland, and the Companics Act 2006. The financial statetnents have been prepared undcr the historical ct convention, In¢on All income is rttognised in the Statement of FinanciAI ArAivities onck the clwity has entitlement to the it is probable ihat the income will be rKeived and the arnount can be me&wr1 reliably. Liabilities arn rxogniscd as upenditure as scy)n as there is a IcgaE or constructive obligation comrnitting the charity to that cxpcnditure. it is probable that a transfer of econornic befits. will bc rquired in 8¢ttlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and h& been clusified under headings that aggregate all cost related to the category. Where costs cannot be didY attributcd to particular hcadings thcy have been allocated to activities on a b8si3 consistent with the usc of TADplJle fixed ass¢ts Deprrfiation is provided at the following annual rate8 in order to wite off eath 88set over its Gstimated u8efi life. FTe¢hold prcycrty Long leasehold Improvements lo propety IlJ/o on Cost at varyiTJg rntes on cost 10/0 on cosL at Vang rat&9 oll ¢ost and $tiBight line over the tem) of the Plant and machinery Fixtures and fitting6 Computer equiprnent Straight line over4 yeaT3 Sttaight lin¢ ovw4 y8 330/0 on cost UrKler FRS 102 8tIOn 35.Iqc) transitional provision4 the Th1¢¢5 have elethl to use the fair value of certain freehold properties &8 a'deemed ¢ost', The valuation was undataken by Mason Ow¢n Chartered Surveyors. The buildings will be subject to annual dwrcciation and no firther revaluations will IK ncccssary. Soctsl Investments Programme related sx)cial invastments are valued at fair value. Tmtion Th¢ charity is ex¢mpt from goOrAtion tax on its Charitable activiti. Fund accountlng Unrestrictcd fiUS can be used in accordance with the charitable objectives at the discretion of the tDJslee& Rastricted funds can only be u8cd for parttcular rcstrictd purpos within the thjeets of thc charity. Restriction5 ar1 when specified by the donor or when fidS are rais for particulat Te5trictcd purp05e5. Further explanation of the nature and purw8e of fund is inclutsl in the note5 to the fiDan¢ial sta¢on¢nts. Pen8lon colts and other post-retlremeDt bene The chaTitable company operatcs a defincd contsibution prnsion herna contntions payable to the charitable ¢ompanYs pension scheme chwged to the Statement of Financial Activiti in th¢ period to which th¢y late. Page 17 continued...
Alt Vall Communi Trust Lirnited ot&s the Finan Statement ntinu&l 24 DONATIONS AND LEGACIES 31.8.24 31.823 110.524 INCOME FROM CHARITABLE AcfIviTILS 31.8.24 31.8.23 Activity SFK)rts and wcllbeing Sw)rts and wellbeing Education Education Community cngagerncnt Community aigagcment Community ffl8agement Community engagernent GranLg Sports Centre tncorne Training income Grants Library management Room hire Room rental 147,511 444,017 127,310 165,0 53.764 176,095 961,463 116,626 442,292 169.950 165.(KKJ 19,395 146,796 2285,070 2,075,160 3355,073 Grdnts [C]Ve4 included in the abovA gjr os follows.. 31.8.24 31.8.23 Sports England Power to Change Trust Livwl City C(NJncil Big Lottery Cobalt Hou6ing Sefton Council for Voluntary Service VelIa Environmcntal Trust Steve Morgan Foundation DepaTtmcnt for Work & Pension New FutUTe$ Youth Investment Fund Mctscytravel Thc National Foundation for Youth Music Skills Bootcamp& LCR Community Found10n8 for Lancashi CLA Charitsble Tnt BRACE. University of Bimingha Enterprise Credit Union Ford Britain Trusl Toynbee Hall Trading Limited Future Stories Fund Awar(Ls for All . CIL4TS National Heritage Fund National IAttery Community Fund The Ptt)gress Partnetship LCVS. Community 0VlOn Fund Food Pantry Tate Liverkxx>l 10,000 179J68 31,816 3,750 27,547 11600 8,720 43,734 7,520 2,056.000 14,992 25,767 4,140 21,848 143,687 1.465 41,578 57,734 654,307 14,992 2,863 4.165 70 748 1,000 3,000 3,450 8,932 19,800 89,775 24,247 10,778 1,500 7,500 1,088,773 2,464,964 Pagc 18 eontinued...
Alt Vall Comrnuni TnEst Limite41 Notes to the Financial Statements- for the Year End ust 202 ntinued CHARrrABLE AcrivrtlFS COSTS Support costs (see note 5) Direct Costs Sports and wellbeing Education Community engagement 103.438 438,807 620,883 62,081 301.363 174,042 165,519 740,170 794,925 1,163,128 537,486 1,71XI,614 SUPPORT COSV6 General Finance costs Totals Sports and wellbeing Education Community engagement 59,868 294.698 168,015 431 1.299 1,175 1,782 5.366 4,852 62,081 301J63 174.042 521581 1905 12,lJ)O 537,486 Support co# included in the above, are follows: 31.824 31.8.23 Sports Cornmunity en8agement Total activities wellbeing Education activities Premises costs Repairs and new&19 TTav¢l expensos Postsge and.8tation¢ry Sundries Legal and professional fees Depre¢i*ion of tangible fixed ets charg Interest payable and Similar charges Auditors, rmun¢tation 39,434 5,109 398 12 816 11,496 118,755 15387 1.21NI 38 2.458 34,618 107,363 18,928 1.085 34 265.552 39.424 1683 84 5,496 77.411 236,923 31,902 3,046 229 2,870 80,249 31.297 2,603 122242 298 7,086 270 131.931 667 131,884 693 332 1,782 I,ooi 5,366 905 4.852 2.238 12,(KK) 6.855 62,081 301 J63 174.042 537.486 505.751 Pagc 19 continuc(L..
Alt Vall Cornmuni Trt Limited Notes to the Financial Statements - continu NET INCOMEI(EXPENDITtIRE) Net incomel{expenditure) is stated cIwgi(er¢ditlng). 31.8.24 31.8.23 Auditors, ranuneration Dq)reciation. owned assets 12,000 131.929 i i,ic(i 131.884 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, reinunelation or othcr benefits for the year ffld¢d 31 August 2024 nor for the year end 31 August 2023. TrnJtee8' expenseg T arc Teimbursed for out-of-pockd expenses incurred whilst carrying out thcir duti on bchalf of Alt Vallcy Community Tnt Limited. The aggregate value reimbursed for the year £11,443 (2023 £3,611). STAFF COSTS 3L.8.24 31.8.23 Wages and sa]aries Social security costs Other pension costs 654,688 46,116 8,712 604,258 46,887 8,426 709,516 659,571 The average monthly number of employees during the year was as follows.. 31.8,24 31.8.23 Teaching and trainees C8retaker / cleaners Office and managernetrt Sports Cenire staff Library staff 10 io 30 30 No employees received emoluments in excess of £60,000. Page 20 continued...
Alt Vall Communi Tn Limited ial Statements- cont f r the Year Ended 31 24 TANGIBLE FIXED ASSETS tmprovements to Freehold property Long le&sehold COST At I Sq)ternber 2023 Additions 1,225,304 1,228,841 3,757,182 456,(M)I At 31 August 2024 1,225,304 1,228,841 4,213,183 DEPRECIATION Ai I September 2023 Charge for year 108.024 12,253 172,654 11,289 316.(1 91904 At 31 August 2024 I20.277 183,943 407,g¥J8 NEf BOOKVALUE At 31 AugLLSt 2024 1,105,027 1,044,898 3,805275 At 31 August 2023 I,l17,280 1,056,187 3,441,178 Fixtures Plant and machinery ComputeT equiprnent fittings Totsls COST At I Swtember 2023 Additions 131,847 522,375 139,950 7,IY)5,499 456,001 At 31 August 2024 131.847 522,375 139,950 7,461,500 DEPRECIATION At I Scwembcr 2023 Charge for year 101,557 16.483 522,375 139,950 IJ60,564 131,929 At 31 Au8USt 2024 118.040 522,375 139,950 1,491493 ET BOOK VALUE At 31 August 2024 13,807 5,969.(K)7 At 31 August 2023 30,21XI 5,644,935 Pagc 21 continuc(L.,
All Vall Communi Trnst Limited Notes to the Financial Statements- continued f r the Year Ended 31 LO. SOCIAL INVESTMENTS Prograrnme related investments equity At I Septembcr 2023 and 31 August 2024 23 NET BOOK VALUE At 31 August 2024 23 At 31 August 2023 23 ii. DEBTOKS: AMOIINfs FALLING DUE T[N ONE YEAR 31.8.24 31.8.23 Trade debtors Other debtors 70.368 275,605 79,037 185235 351,973 264272 12. cREDORS. AMOUNTS FALLING DUE wllIN ONE YEAR 31.8.24 31.8.23 Other loany (s¢¢aot¢ 13) TTzdc crcditors Social security and other tax Other creditors ruals and defaTed income 104J81 47,654 71,414 20,604 144.606 31.151 21868 46,614 267,775 221,517 13. LOANS An analysis of thc maturity of loan8 is given below.. 31.8.24 31.823 Amounts f811ing due within onc ycar on demand: Other lo8% 104,381 £700.000 from Futurebuildcrs England Limite repayable by iLstalments over 20 years, ¢ommen¢ing April 21K17 with an interest rate of 311/.. This Iijan is seourna by way of a Ic8al charge on the PToperty at Gillmo&s Lane, Liverp1. Pag¢ 22
Alt Vail muni Tn Lirnited otes to the Financial Statements- c ntinucd 14. mOVEME11N FUNDS Net movement in fillids At 31.8.24 At 1.9.23 UDrestricted funds General fimd 2,260,280 (79,011) 2,181,269 Re8trithd ERDF SEIF Sport5 Sports England- Dovecot MAC Big Lottw- [x)Ve¢ MAC The Clothwork¢TS Foundation Youth Invc5tmcnt Fund The National Foundation for Youth Music Future Stories Fund Awards for All- CHATS National Hltage Fund National Lottery Community Fund 682,518 401.197 33,375 582,141 25,000 1,960,194 1,600 (17,530) (19,522) (357) (6228) (12.500) 422,891 (I,6Crf)) 8.932 13,200 89,775 19,047 664,988 38L,675 33,018 575.913 12,500 2,383,085 8.932 13200 89,775 19,047 3,686,025 496,108 4,182,133 TOTAL FUNDS 5,946,305 417.097 6J63,402 Pagc 23 continued...
Alt Vall Communi Notes to the Financ th Ye2rEnded 14. MOVEMEIYT IN FUNDS- CODthiued Net movement in fun(ts, included in the above are as follows: tncoming resourccs Resources cxpcndcd Movemcnt Unrestrleted fund8 Genal fiuid 1,035.603 (1,114,614) (79,011) EBJ)F SF.IF Sports Sports England- DDvecot MAC Big Lottery- Dovecot MAC Liverp(KJl City Cwicil Cobalt Houssng Scfton Council for Voluntary Service Include- Mersey HAF Funding Youth Hub The Clothworkers Foundatis)n Youth Investment Fund Mcrwtravel The National Foundation for Youth Music Ski118 Bootcamp Future Stories Fund Awards for Ail- CHATS National Heritage Fund National Lottay CoLunity Fund LCVS . commLIty Innovation Fund Food Pantry (17,530) (19,522) (357) (6,228) (123,145) (250) (10.778) (41,578) (20,542) (57,734) (12,500) (231,416) (14,992) (4,463) (4,165) (17,530) (19,522) (357) (6,228) 123.145 250 10,778 41.578 20,542 57,734 (12S1)J) 422,891 654,307 14,992 1863 4,165 8,932 I9,8) 89,775 24,247 1,500 7,500 (1,600) 8,932 13,2(rf) 89,775 19,047 (6,61X)) (S,2} (1,500) (7,500) 1,082,108 (586,000) 496,108 TOTAL FUNDS 2,117,711 {1.700.614) 417,097 Page 24 continued...
Ait Vail Cornmuni Tn Limi Not&% to the Financi Statcments- IAU I& MOVEMENT IN FUNDS. continued Comparadve5 for movement In fund5 Nct movernent in funds At 1.9.22 31.8.23 Unrestricted fllnds ¢ral fund 1425,388 (165,108) 2,260,280 Restrfcted funds ERDF SEIF Sp)rLs Sports Englwl- Dovecot MAC Big Lottery- Dovecot MAC The Clothworkers Foundation Youth Investment Fund TheNationai Foundation for Youth Music 700,048 420.719 33,732 588J69 37,500 (17.530) (19.522) (357) (6,228) (12,5QKI) 1,960,194 682,518 401,197 33 J75 582,141 25,000 1,960,194 1,6 1,780J68 1.905,657 3,686,025 TOTAL FUNDS 4,205,756 1.740,549 5.946 J05 compatI n¢t mov¢mMt in funds, included in the above as follows: Incoming re50urc¢s Gains and losses Movement in funds cxp¢nd¢d Unreltrkted funds Genernl fuod 1,034,556 (1.117.687) (81,977) (L65.108) (17,530) (19,522) (10,301) (6,228) (155.040) (3,750) (7.520) (31,816) (12,600) (27,547) {8.720) (24,328) (43,734) (12500) (95.806) (14.992) (24,167) (4,14Q) (21,848) (14(K)) (17530) (19,522) (357) (6228) SF Swts Sports England- DoverA MAC Big Lottery . Dovecot MAC Livecl City Council Cobalt Housing Sefton Council for Voluntary Service Bi8 Lottery- Reaching Communities Veolia EnVirOnnw Trust tncludc- Mersey Steve Morgan Older PersoLs Hub HAF Fundtng Youth Hub The ClothwoTkas Found*ion Youth tnvcgtment Fund Merseytrnvel The National Foundation for Youth Music Sknlls Bootcamp VRP Sports. Arts and Culture CLA Chariiable Tn 9.944 155,040 3,750 7,520 31.816 12,600 27,547 8,720 24,328 43.734 {12,5(M)) 1,960,194 2,056.000 14,992 25.767 4.140 21,848 2,400 1,6(Ki 1450,146 (544,489) 1,905,657 3,484,702 (1,662,176) (81,977) 1,740,549 Page 25 continued...
Alt Vall Comrnuni Tnt Limited Nottt to the Financial Statements- continued 24 I& CONfiNGENT LIABILITIES Subsequent to the year-end, Alt Vallry Community Ihtst Limiteil received eorKspondence from Liverpool City Council in rdation to a claim for historical propety ¢osts r¢lating to Brcck Road Library aud Walton Sports Centrc. The alnount being putsucd by LivcTpooI City Council is disputed by Ait Valley Community Trust Limitel as 15 the ethOd of Calculatio and further evidence to substantiate the claim h&s been requested. While AIt Valley Community Trust Limited await further evidence it is imprdcticable to estimate the fin8J)cial efft of the contingcnt liability. 8 at tbe date of approval of th¢8c financiaL statcmcnts, no fonnal legal claim has been initiated, and the outcome retnains uncertain. Accordingly. the charity has not recwised a liability in respect of this amount. Howcvcr, in line with FRS 102 Section 21, thc arnount is dibcloscd as a contingvnt liability, as there is a po&sible obligation arising from past event5, the cxistcncc of which will bc confimicd only by fiLture events not wholly within the charity's control. Management continues to monitor the siruati¢)n and will reassess the p08itii)n shouLd further developrnents arise. 16. RELATED PARTY DISCLOSiJRES Durtng the year, the charity entered into transactions, on an arnis length with comrnunity organisation5 The Ncighbourhocd ScrvicLs Company Limitrf Vauxhall Neighbourhd Ccrtmcil Limited and NSC Care Lld; all related parties by virtue of tbere being common dIrtors. During th¢ year £80,000 was 10£n to V8XhalI Neighbourhood Council Limited. At 31st August 2024, the charity was owed £264,935 from Vauxhall Neighbourhcd Council Limited by way of other dcbtors. (31st Au8U5t 2023 - £184,93S) 17. COllYG COiYCERN The financial thtements have been prcparcd on a 80ing concern bas.. In forniing this view, the trustees have ¢onsid¢r¢d the ¢harity'S fitwicial position. cash flow forecasts, and operational p18ns for ihe next 12 months. As disclosed in Note 15, thc charity is 6ubjcct to a potcntial claim from Liverpwl City Council in relation to hist7¢1 prr)p¢rty wsL$. The level of these charges are disput in the abs¢n of validating evidence. No fonnai legal proceedings have commenced, and thc tNstecs consider the like11h)d of an outtlow of econornic SOUe$ to be uncertain at this stagc. The trnsteas have 8sse&4ed the potential impact of this rnattcr on thc charity's tinancial position and are confident thaL even in the evenl of an adverse outcome, the charity h&$ sufficient resources to continue operating for the foreseeabl¢ future. A(¥ordingly, the financial statements continue to bc prcparcd on a going Goncern b&sis. Page 26