REGISTERED CHARITY NUMBER:
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
SEDBERGH YOUTH AND COMMUNITY CENTRE
Shenward (Leeds) Limited Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB
SEDBERGH YOUTH AND COMMUNITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
SEDBERGH YOUTH AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 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
The charity's objects are to help educate, support and empower people of all ages and backgrounds their leisure time activities.
Public benefit
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Having developed into a centre which the entire community use we aim to provide positive opportunities for all people in Bradford to participate in sporting, social, educational and cultural activities. Our purpose built centre consists of a main club room, kitchen, sensory room, gymnasium, large function room/dance studio, office space, main office and model railway room.
FINANCIAL REVIEW
Financial position
The net income for the year was £2,026, including net income of £702 on unrestricted funds and net income of £1,324 on restricted funds.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £143,358. The trustees annually review the reserves policy to ensure it is in line with the needs of the charity. Three to six months running costs are kept as minimum to ensure continuity of service to groups using the centre. The trustees aim to hold reserves of at least £23,000 in the Barclays Community Account. The funds will be held to meet the following costs in the event of the closure of Sedbergh Youth and Community Centre:
All outstanding debts and creditors, salaries and redundancy payments. Additional payments, if necessary, will be made to this fund each financial year after a review of the above costs.
Going concern
There are no material uncertainties so significant as to cast doubt over the ability of the charity to continue to operate as a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Club was established under a Trust Deed dated 11 October 1962 as amended 24 September 2014.
Recruitment and appointment of new trustees
The trustees of the charity are appointed by the members at the AGM.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
Principal address
Sedbergh Centre Huddersfield Road Bradford BD6 1DJ
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SEDBERGH YOUTH AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees
H M Buck Chair C N Towers Trustee Peter Cannon (Appointed 08/09/2022) Diane Marie Senior (Appointed 01/07/2022)
Independent Examiner
Shenward (Leeds) Limited Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... H M Buck - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SEDBERGH YOUTH AND COMMUNITY CENTRE
Independent examiner's report to the trustees of Sedbergh Youth and Community Centre
I report to the charity trustees on my examination of the accounts of Sedbergh Youth and Community Centre (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Sherad Dewedi CA
Shenward (Leeds) Limited Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB
Date: .............................................
Page 3
SEDBERGH YOUTH AND COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
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2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 34,783 109,351 144,134 93,479
Other trading activities 2 8,075 - 8,075 22,293
Investment income 3 6,616 - 6,616 -
Total 49,474 109,351 158,825 115,772
EXPENDITURE ON
Other 48,772 108,027 156,799 107,188
NET INCOME 702 1,324 2,026 8,584
RECONCILIATION OF FUNDS
Total funds brought forward 152,502 30,392 182,894 174,310
TOTAL FUNDS CARRIED FORWARD 153,204 31,716 184,920 182,894
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The notes form part of these financial statements
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SEDBERGH YOUTH AND COMMUNITY CENTRE
STATEMENT OF FINANCIAL POSITION 31 MARCH 2024
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2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 6 40,157 - 40,157 48,533
Investments 7 1,405 - 1,405 1,405
-
41,562 41,562 49,938
CURRENT ASSETS
Debtors 8 - - - 16,640
Cash at bank and in hand 113,082 31,716 144,798 117,696
113,082 31,716 144,798 134,336
CREDITORS
Amounts falling due within one year 9 (1,440) - (1,440) (1,380)
NET CURRENT ASSETS 111,642 31,716 143,358 132,956
TOTAL ASSETS LESS CURRENT LIABILITIES 153,204 31,716 184,920 182,894
NET ASSETS 153,204 31,716 184,920 182,894
FUNDS 10
Unrestricted funds 153,204 152,502
Restricted funds 31,716 30,392
TOTAL FUNDS 184,920 182,894
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The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. H M Buck - Trustee
The notes form part of these financial statements
Page 5
SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost Computer equipment - 33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the income statement.
Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.
Taxation
The charity is exempt from tax on its charitable activities.
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.
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SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
3.
| Other income INVESTMENT INCOME Deposit account interest |
2024 £ 8,075 2024 £ 6,616 |
2023 £ 22,293 2023 £ - |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 26,594 Other trading activities 22,293 Total 48,887 EXPENDITURE ON Other 53,236 NET INCOME/(EXPENDITURE) (4,349) RECONCILIATION OF FUNDS Total funds brought forward 156,851 TOTAL FUNDS CARRIED FORWARD 152,502 |
Restricted fund £ 66,885 - 66,885 53,952 12,933 17,459 30,392 |
Total funds £ 93,479 22,293 115,772 107,188 8,584 174,310 182,894 |
|---|---|---|
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SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. TANGIBLE FIXED ASSETS
| 6. TANGIBLE FIXED ASSETS |
|||
|---|---|---|---|
| COST At 1 April 2023 and 31 March 2024 |
Improvements to property £ 73,207 |
Computer equipment £ 4,630 |
Totals £ 77,837 |
| DEPRECIATION At 1 April 2023 Charge for year |
25,357 7,862 |
3,947 514 |
29,304 8,376 |
| At 31 March 2024 | 33,219 | 4,461 | 37,680 |
| NET BOOK VALUE At 31 March 2024 |
39,988 | 169 | 40,157 |
| At 31 March 2023 | 47,850 | 683 | 48,533 |
| 7. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2023 and 31 March 2024 |
Unlisted investments £ 1,405 |
||
| NET BOOK VALUE At 31 March 2024 |
1,405 | ||
| At 31 March 2023 | 1,405 | ||
| There were no investment assets outside the UK. 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
2024 £ - |
2023 £ 16,640 |
|
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 £ 1,440 |
2023 £ 1,380 |
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SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.4.23 £ 152,502 30,392 182,894 Incoming resources £ 49,474 109,351 158,825 At 1.4.22 £ 156,851 17,459 174,310 |
Net movement At in funds 31.3.24 £ £ 702 153,204 1,324 31,716 2,026 184,920 Resources Movement expended in funds £ £ (48,772) 702 (108,027) 1,324 (156,799) 2,026 Net movement At in funds 31.3.23 £ £ (4,349) 152,502 12,933 30,392 8,584 182,894 |
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SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 48,887 Restricted funds Restricted 66,885 TOTAL FUNDS 115,772 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.22 £ Unrestricted funds General fund 156,851 Restricted funds Restricted 17,459 TOTAL FUNDS 174,310 |
Resources Movement expended in funds £ £ (53,236) (4,349) (53,952) 12,933 (107,188) 8,584 Net movement At in funds 31.3.24 £ £ (3,647) 153,204 14,257 31,716 10,610 184,920 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming resources £ 98,361 176,236 274,597 |
Resources Movement expended in funds £ £ (102,008) (3,647) (161,979) 14,257 (263,987) 10,610 |
|---|---|---|
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SEDBERGH YOUTH AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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SEDBERGH YOUTH AND COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
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2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 144,134 93,479
Other trading activities
Other income 8,075 22,293
Investment income
-
Deposit account interest 6,616
Total incoming resources 158,825 115,772
EXPENDITURE
Other
Cafe 253 552
Equipment and materials 10,079 1,120
Hospitality 2,213 192
Subscriptions 50 -
12,595 1,864
Support costs
Management
Wages 88,785 61,982
Pensions 4,168 3,874
Insurance 4,046 3,570
Light and heat 6,281 6,857
Sundries 9,904 4,983
113,184 81,266
Finance
Bank charges 84 118
Improvements to property 7,862 7,321
Computer equipment 514 2,280
8,460 9,719
Information technology
Repairs and renewals 7,954 769
Cleaning 5,497 8,725
13,451 9,494
Governance costs
Accountancy and legal fees 1,440 1,571
Office expenses 7,669 3,274
9,109 4,845
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This page does not form part of the statutory financial statements
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SEDBERGH YOUTH AND COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
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2024 2023
£ £
Total resources expended 156,799 107,188
Net income 2,026 8,584
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This page does not form part of the statutory financial statements
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