2024-03-31-accounts

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Financial Statements Newground Together

For the year ended 31 March 2024

Company No 02501885 Charity number 702800

Newground Together Financial statements for the year ended 31 March 2024

Index to financial statements

Company information	3
Report of the Trustees	4
Independent auditor's report to the members of Newground Together	12
Consolidated statement of financial activities (incorporating consolidated
income and expenditure account)	17
Charitable company statement of financial activities (incorporating
charitable company income and expenditure account)	18
Consolidated statement of financial position	19
Charitable company statement of financial position	20
Consolidated statement of cash flows	21
Notes to the financial statements	22

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees

The Trustees, who are directors of the charitable company for the purposes of company law, present their report together with the financial statements for the year ended 31 March 2024.

Structure, governance and management

Governing document

Newground Together is a company limited by guarantee governed by its Memorandum and Articles dated 14 May 1990 and amended to allow for current governance arrangements on 26 November 1998. The Memorandum and Articles were further amended on 15 December 2009, 5 February 2010, 21 July 2010 and 26 June 2013 (incorporating the expansion of Newground Together’s objects to cover the North of England).

The charitable company has no share capital and is limited by guarantee, whereby each member undertakes to contribute £1 to the assets of the company in the event of winding up.

Organisation

The charity is administered by the board of Trustees. The board meets quarterly. The operations of the charity are managed by the Newground Together Senior Management Team, to whom the members have delegated all operational matters.

An element of the charity’s direct operations are carried out by its wholly-owned Community Interest Company, Newground CIC. The unique features of a Community Interest Company ensure that all surpluses generated benefit the community. Newground CIC is overseen by its own board of Executive Directors.

In addition, the charity’s objects are furthered by the awarding of commissions to third parties to deliver key activities in priority locations where the charity does not have an in-house delivery capability. A community grant programme provides small grants to community groups to deliver projects in their local neighbourhoods.

Newground Together is a member of Together Housing Group a registered social landlord managing over 36,000 properties in the North of England. The Chair of the Newground Together board is a member of the Together Housing Group board.

Newground Together has 100% ownership of the following dormant companies – The Compliance People Limited, The Flood Hub Limited and Groundwork Pennine Lancashire Limited.

Newground Together does not directly employ staff. Staff, including key management personnel, are employed by Newground CIC and operate in accordance with Together Housing Group policies, including pay and renumeration policies. Salaries are externally benchmarked periodically against the market for similar roles within the sector.

Appointment of trustees

There are up to 8 Trustee positions. At 31[st] March 2024 the Charity had one vacant Trustee position. Trustee appointments are for a fixed term of no longer than 3 years. If a Trustee has completed 2 terms of continuous service on the board of the charity, they shall not be eligible for re-appointment. During the reporting period James Hartley resigned from his Trustee position on 14[th] March 2024 and Steve Duncan was appointed on 14[th] March 2024.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

Vacant Trustee positions are advertised externally and a recruitment process followed involving interviews with the Chair and Senior Management. Recommendations to appoint new Trustees are made by the Charity Board to the parent Together Housing Group Board for ratification.

The Trustees do not receive any remuneration or benefits from the charity.

Trustee induction and training

New members take part in an induction day and also undergo a series of induction meetings to help them understand the organisation and their roles and responsibilities as Trustees. As the members may not necessarily have been charity Trustees before, briefings on the duties of a charity Trustee and charity law are provided for all Trustees. New guidance and good practice information from the Charity Commission is relayed to Trustees on a regular basis. Electronic Board Packs provide Trustees with an information resource. A Trustee appraisal process is in place which allows for the identification of training needs. Trustees participate in Together Housing Group’s annual board development programme.

Objectives and activities

Newground Together aims to empower people to create sustainable communities that are connected, resilient, healthy and prosperous to achieve our ambition: better lives and opportunities for our communities.

The objects of the Newground Together charity are:

(1) To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment anywhere in the North of England.
(2) To promote for the benefit of the public urban or rural regeneration in areas of social and economic deprivation anywhere in the North of England by all or any of the following means:
(a) the relief of financial hardship;
(b) the relief of unemployment;
(c) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
(d) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help: (i) in setting up their own business, or (ii) to existing businesses;
(e) the creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
(f) the maintenance, improvement or provision of public amenities;
(g) the protection or conservation of the environment;
(h) the promotion of health, welfare and personal development opportunities for persons living within those areas; and
(i) such other means as may from time to time be determined subject to the prior written consent of the Commission.
(j) To promote the provision of facilities for recreation or other leisure time occupation for individuals in the North of England who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public generally in the North of England in the interests of social welfare and with the object of improving their conditions of life.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

(3) To advance in life and relieve the needs of young people in the North of England through: (a) the provision of recreational and leisure time activities provided in the interests of social welfare designed to improve their conditions of life;
(b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
(4) To advance education (including training) in such ways as the directors think fit.

Public benefit

The overall practical purpose of the charity is to help make the North of England more sustainable and to improve the social conditions of those living and working there.

Public benefit is achieved both through direct delivery, commissions and through an open community grants programme , with all projects contributing to the Charity’s objects.

In taking this approach, the Trustees confirm that they have had regard to the Charity Commission’s general guidance on public benefit. Outputs secured from projects completed in 2023/24 are detailed in the achievements and performance section.

Strategic Report

Achievements and performance

The main strategic goals of Newground Together in 2023/24 were to:

Ensure that funds were allocated appropriately during the year.
Ensure that appropriate governance was in place and maintained.
Access funding from a range of funding sources.
Maintain a flexible approach to project activity.
Promote the activities of Newground Together.

In the 12 months to 31 March 2024 Newground Together has allocated funding to a value of £2,429,527.

Activity was focused on three key themes;

To support people into employment or to enhance their work position.
To engage people in the local environment.
To create opportunities for people to thrive in their communities.

Through driving investment in activities and projects that enhance our neighbourhoods, connect people to the natural environment, enrich social inclusion, and create employment and skills opportunities, our goal is to strengthen our communities by cultivating a sense of local pride in the places where people live, learn, work and play. When people feel empowered, confidence increases, and they feel a sense of control enabling them to influence positive change, creating sustainable communities that are connected, resilient, safe, healthy and prosperous.

During 2023/24 the cost-of-living crisis affected many people, particularly those on the lowest incomes, who faced a drop in their living standards and increased hardship as a result of rapid increases in energy and other costs. Throughout the year we incorporated into our projects a range of activities to support people to meet the challenges of the cost-of-living crisis, building on our already strong foundation and track record of providing support to the most vulnerable members of our communities.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

Our financial support reached 1,680 households, distributing £200,459 in fuel vouchers to help families heat their homes during the winter months. To supplement the financial support we also provided energy advice to support people to reduce their energy bills, providing home assessments, one to one advice and energy saving workshops to 492 households during the year.

Newground Together’s employment advisors and mentors supported individuals into employment, delivering customised interventions to overcome barriers to progression, and creating opportunities for people to benefit from volunteering and training opportunities. Building on the success of our pilot Blackburn Town Centre Employment Hub, a new Employment Hub was opened in Halifax, and a third Hub developed in Colne. Our new Hub at Bull Green House has become a vital resource for Halifax residents, offering workshops, one-on-one support, and employment advice that directly contribute to better mental and physical health. Our employment and skills activities during the year were in part funded by the UK Shared Prosperity Fund.

Our community-based learning teamwork alongside our employment teams. Our tutors work closely with individuals to offer a blend of vocational learning, alongside real-life work experience. This support effortlessly complements the work of our employment teams who link learners with opportunities with local employers, based on the new skills and qualifications they gain.

Our activities in 2023/24 supported 915 people with employment advice and training, with 499 training outcomes achieved, resulting in 265 people securing employment.

The Greener Together project in Calderdale helped local residents understand climate change and its longterm effects, delivering a combination of energy efficiency improvements, awareness training, and green skills development. The project was funded by West Yorkshire Combined Authority’s Gainshare Fund to a value of £126,274 during the year and provided one to one support to 124 residents with 63 gaining a qualification, 463 engaging in life skills and 1,154 participating in group activities following support.

The Greener Together Pendle Project engages residents in positive activities within their communities, encouraging the use of open spaces as a focal point for providing opportunities for social interaction, increasing physical activity levels and positive mental health and emotional wellbeing. In FY 23/24 the project reached 81 Pendle residents and provided 1,134 opportunities for residents to attend sessions. The project is funded through Pendle Council, by the Department for Levelling Up, Housing and Communities through the UK Shared Prosperity Fund.

Volunteering opportunities connect those in our community who may need support and are an invaluable resource within the communities we operate. We continued to support our organised walking groups in East Lancashire, helping walkers engage with the natural environment, exercise and connect with each other. During the year 68 volunteers provided 3,358 hours of volunteer support.

Newground Together’s Youth Team worked in local communities, engaging with 1,312 young people through 15,675 activity attendances to support their personal, social and educational development and enable them to gain a voice, influence and a place in society. Our Youth Workers helped young people to engage positively with their local communities, supporting them to realise their potential and to address life’s challenges.

In Shadsworth, Blackburn plans have been developed for a new Youth Hub which will be constructed during 2024/25. The project has secured funding to a value of £620,139 from the Youth Investment Fund. Once built the Hub will provide specific youth-focussed facilities to enable an uplift in the scale & scope of services for young people in this locality.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

Our community grants programme supported 23 resident groups, grass root community organisations and volunteer-led groups, providing financial support to local community-based organisations who are working to make a difference in the heart of their community. We also supported Probe in Hull and Manor & Castle Development Trust, Sheffield with employment commissions to deliver local advice, training and support to assist local people into employment.

Plans for the future

Newground Together will undertake specified programmes that meet the charitable objects through direct delivery and commissions through its Community Interest Company. A programme of open community grants aimed at local residents’ groups will be delivered with a view to supporting the development of grass roots community activity. In addition, commissions will be developed with partner organisations to further the charitable objects.

The key themes for 2024/25 remain;

To support people into employment or to enhance their work position.
To engage people in the local environment.
To create opportunities for people to thrive in their communities.

The key objectives for 2024/25 are to:

Ensure that appropriate governance is maintained.
Build our brand, reputation and profile.
Operate in a safe sustainable way.
Monitor the external funding environment.
Create a positive work culture and work environment
Implement robust systems to maintain operational efficiency and quality

Risk management

The members have a risk management register in place which identifies the major risks to which the charity is exposed. This is reviewed and, where necessary, updated at each board meeting. The members regularly review the systems established to mitigate those risks.

Principle risks identified are;

Failure to secure external funding streams, limiting the charity’s ability to deliver its objects – minimised through strong relationships with stakeholders, a strong track record of delivery, monitoring of funding opportunities and marketing the charity’s offer.
Reputational damage from negative publicity – mitigated through policies, processes and procedures.
Loss of personal data – minimised through policy, procedures, training and data sharing agreements.
Loss of key staff or Trustees – mitigated through succession planning, training and development.

The Together Housing Group Risk Management and Audit Committee is responsible for oversight and scrutiny of the Newground Together risk register on behalf of Together Housing Group.

Governance Code

The charity recognises the need for effective governance and leadership through compliance with the 7 principles of the Charity Commission’s Governance Code.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

Going Concern

The assessment of the significant risks faced by the Charity is considered in various sections of this Trustees’ report. The results of this analysis, combined with regular review of forecast trading patterns, costs and expenditures has led to the Trustee’s judgement that the Charity has a financially robust long term Business Plan, including potential mitigations which indicate sufficient resilience to respond to different stress testing scenarios.

The Trustees have fully appraised the changing business environment facing the Charity, it has considered the financial projections set out in the long-term Business Plan, assessed the strategic risks faced and the means available to it to mitigate these risks. The Trustee’s believe that due to a combination of these potential mitigating actions, and the continued support of its ultimate Parent Company, that the Charity has sufficient cash resources to meet its obligations as they fall due and has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and financial statements.

Financial review

The consolidated statements for the group show the financial affairs of Newground Together and its wholly owned subsidiary Newground CIC.

The statement of financial activities shows that there was net income for the group for the financial year of £477,806 (2023: £70,436). This resulted in accumulated fund balances of £3,190,278 (2023: £2,712,472).

For the charitable company, the statement of financial activities, shows net income of £41,090 (2023: £356,751) for the financial year. This resulted in accumulated fund balances of £1,740,616 (2023: £1,699,526).

The operating divisions delivered projects during 2023/24:

Business Services had a turnover of £2,583,389 (2023: £2,322,380). Under the brand of The Compliance People Newground continued to develop and expand our online subscription service, known as the Legislation Update Service, providing our clients with health, safety and environment legal registers. Alongside this, a team of professional consultants also provide environment, health and safety and quality consultancy and training services to businesses, specialising in legal compliance and management systems support.

Under the brand The Flood Hub People Newground continued to develop and expand our online resource centre, known as The Flood Hub, providing householders, communities and business with flood resilience information. Alongside this, our dedicated team of flood advisors have continued to deliver community flood engagement, support and consultation activities.

We continued to undertake the accountable body role for the Blackburn Town Centre Business Improvement District which had a turnover of £324,832 (2023: £298,616).

Community Programmes had a turnover of £2,409,725 (2023: £2,482,618). The Community Programmes Division has continued to deliver the charitable objects through employment, skills and community initiatives. Activity reduced in scale during the year due to the completion of projects part funded by the European Social Fund.

The ratio of current assets to current liabilities on the consolidated balance sheet is 2.2:1 (2023: 2.2:1) while the ratio of cash only to current liabilities is 1.6:1 (2023: 1.6:1).

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

The group and charitable company funds fall into the following categories:

Other unrestricted funds of the group and the charitable company represents funds held for day to day running of the Trust. The Group had net income before transfers for the year of £482,096 (2023: £50,810) and the charitable company had net income before transfers of £41,090 (2023: £356,751). After transfers this resulted in unrestricted fund balances of £3,190,278 (2023: £2,712,472) and unrestricted for the company of £1,740,616 (2023: £1,699,526).

Financial risk management objectives and policies

The charity has a reserves policy in place to cover unforeseen risks and the board monitors expenditure and committed funds at each meeting to ensure that expenditure commitments do not exceed the value of funding that has been secured.

The reserves policy was reviewed and updated in March 2024. The Board approved to increase the level of requirement of unrestricted reserves from £1m to £1.5m. Year ending 31[st] March 2024, reserves are above the requirement at £1.7m.

The Trustees of the charity recognise the need to hold a level of unrestricted reserves to secure the charity's future viability and that these should be maintained for the following reasons:

To provide 4 months protection for the orderly winding down of all or part of the charity’s operations in the event of a significant adverse event that is outside the charity’s control, which might include the loss of all major funding sources or grant programmes.
To provide 12 months protection cover for any unforeseen down-turn in activity and to allow for generating new replacement activity in pursuit of the charity’s charitable objectives.
To maintain a positive cashflow.

Investment powers and policy

Under the charity’s Memorandum and Articles of Association, the charity has the power to invest in any way the Trustees consider appropriate. The Trustees have adopted an investment policy in line with Charity Commission guidelines which considers the level of acceptable risk and the charity’s position on ethical investment.

Newground Together Financial statements for the year ended 31 March 2024

Report of the Trustees (continued)

Trustees’ responsibilities statement

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

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

select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the Together Housing Group website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

Auditors

All of the Trustees as at the date of this report have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The Trustees are not aware of any relevant audit information of which the company's auditor is unaware.

The Trustees’ report, incorporating the Strategic report and Director’s report, was approved by the Board on 12 September 2024 and signed on its behalf by:

M S Gore Director

Date: 17 December 2024

Newground Together Financial statements for the year ended 31 March 2024

Independent Auditor’s Report to the Members of Newground Together

OPINION ON THE FINANCIAL STATEMENTS

In our opinion, the financial statements:

give a true and fair view of the state of the Group’s and of the Parent Charitable Company’s affairs as at 31 March 2024 and of the Group’s incoming resources and application of resources and the Parent Charitable Company’s incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements of Newground Together (“the Parent Charitable Company”) and its subsidiaries (“the Group”) for the year ended 31 March 2024 which comprise the consolidated and charitable company statement of financial activities, the consolidated and charity company balance sheets, the consolidated cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remain independent of the Group and the Parent Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

CONCLUSIONS RELATED TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Newground Together Financial statements for the year ended 31 March 2024

Independent Auditor’s Report to the Members of Newground Together

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OTHER COMPANIES ACT 2006 REPORTING

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Trustees’ Report, which includes the Directors’ Report and the Strategic report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors’ Report, which are included in the Trustees’ report, have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion;

adequate accounting records have not been kept by the Parent Charitable Company, or returns adequate for our audit have not been received from branches not visited by us; or
the Parent Charitable Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.

Newground Together Financial statements for the year ended 31 March 2024

Independent Auditor’s Report to the Members of Newground Together

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

Based on:

our understanding of the Group and the industry in which it operates;
discussion with management and those charged with governance; and
obtaining and understanding of the Group’s policies and procedures regarding compliance with laws and regulations.

We considered the significant laws and regulations to be the applicable accounting framework and UK tax legislation.

The Group is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the health and safety legislation and data protection.

Our procedures in respect of the above included:

review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
review of correspondence with tax authorities for any instances of non-compliance with laws and regulations;
review of financial statement disclosures and agreeing to supporting documentation;

Newground Together Financial statements for the year ended 31 March 2024

Independent Auditor’s Report to the Members of Newground Together

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
obtaining an understanding of the Group’s policies and procedures relating to:
detecting and responding to the risks of fraud; and
internal controls established to mitigate risks related to fraud.
review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;
discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override and revenue recognition.

Our procedures in respect of the above included:

testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;
assessing significant estimates made by management for bias; and
confirmation of revenue recognition through to supporting documentation.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members who were all deemed to have appropriate competence and capabilities and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Newground Together Financial statements for the year ended 31 March 2024

Independent Auditor’s Report to the Members of Newground Together

USE OF OUR REPORT

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Anderson (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Manchester, UK

17 December 2024

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Newground Together Financial statements for the year ended 31 March 2024

Consolidated statement of financial activities (incorporating a consolidated income and expenditure account)

Unrestricted general funds £ 840,220 1,424,589 2,908,041 67,439 5,244	Restricted funds Total 2024 £ £ - 840,220 985,136 2,409,725 - 2,908,041 - 67,439 - 5,244 985,136 6,230,669 - (2,347,656) (985,136)(3,316,590) - (84,327) (985,136) (5,748,573) - 482,096 - - - (4,290) - 477,806 - 2,712,472 - 3,190,278	Restricted funds Total 2024 £ £ - 840,220 985,136 2,409,725 - 2,908,041 - 67,439 - 5,244 985,136 6,230,669 - (2,347,656) (985,136)(3,316,590) - (84,327) (985,136) (5,748,573) - 482,096 - - - (4,290) - 477,806 - 2,712,472 - 3,190,278	Total 2023 £ 463,552 2,482,618 2,664,318 17,503 5,237
5,245,533	985,136	6,230,669	5,633,228
(2,347,656) (2,331,454) (84,327)			(2,168,812) (3,344,387) (69,218)
(4,763,437)			(5,582,418)
482,096 - (4,290)	- - -	482,096 - (4,290)	50,810 2,168 17,458
477,806 2,712,472	- -	477,806 2,712,472	70,436 2,642,036
3,190,278	-	3,190,278	2,712,472

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

All income and expenditure are derived from continuing activities.

The accompanying notes form part of these financial statements.

Newground Together Financial statements for the year ended 31 March 2024

Charitable company statement of financial activities (incorporating a charitable company income and expenditure account)

Unrestricted general funds £ 840,220 43,456 814,040	Restricted funds £ - 985,136 - -	Total 2024 £ 840,220 985,136 43,456 814,040	Total 2024 £ 840,220 985,136 43,456 814,040
1,697,716	985,136	2,682,852
(1,390,952) (265,674)
(1,656,626)	(985,136)	(2,641,762)	(2,012,945)
41,090 41,090 1,699,526	- - -	41,090 41,090 1,699,526	356,751 356,751 1,342,775 1,699,526
1,740,616	-	1,740,616

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

All income and expenditure are derived from continuing activities.

The accompanying notes form part of these financial statements.

Newground Together Financial statements for the year ended 31 March 2024

Consolidated statement of financial position

		2024	2023
			Restated
	Note	£	£
Fixed assets
Tangible assets	13	212,013	162,516
Current assets
Debtors	15	1,378,185	1,314,182
Cash at bank and in hand		4,148,783	3,378,203
		5,526,968	4,692,385
Creditors: amounts falling due within one year	16	(2,534,913)	(2,132,929)
Net current assets		2,992,055	2,559,456
Total assets less current liabilities		3,204,068	2,721,972
Provisions	18	(13,790)	(9,500)
Net Assets		3,190,278	2,712,472
Income funds:
Restricted funds		-	-
Unrestricted funds:
General charitable funds		3,190,278	2,712,472
Funds	19	3,190,278	2,712,472

The accompanying notes form part of these financial statements.

Further details on the prior year restatement can be found in note 3.

The financial statements were approved by the Board on 12 September 2024.

M S Gore Director

Date: 17 December 2024

Company Registration Number: 02501885

Newground Together Financial statements for the year ended 31 March 2024

Charitable company statement of financial position

		2024	2023
	Note	£	£
Fixed assets
Tangible assets	13	78,694	453
Investments	14	5	5
		78,699	458
Current assets
Debtors	15	210,556	20,561
Cash at bank and in hand		2,170,140	2,231,264
		2,380,696	2,251,825
Creditors: amounts falling due within one year	16	(718,779)	(552,757)
Net current assets		1,661,917	1,699,068
Total assets less current liabilities		1,740,616	1,699,526
Net assets		1,740,616	1,699,526
Income funds
Restricted funds		-	-
Unrestricted funds:
General charitable funds		1,740,616	1,699,526
Charity funds	19	1,740,616	1,699,526

The accompanying notes form part of these financial statements.

The financial statements were approved by the Board on 12 September 2024.

M S Gore Director

Date: 17 December 2024

Company Registration Number: 02501885

Newground Together

Financial statements for the year ended 31 March 2024

Consolidated statement of cash flows

Cash flows from operating activities Net income for the financial year Adjustments for: Depreciation of tangible assets Profit on sale of fixed assets Interest received Corporation tax charge/(credit) Decrease/(increase) in trade and other debtors (Decrease)/increase in trade creditors and other creditors Cash flows (used in)/from operations Net cash (used in)/provided by operating activities Cash flows from investing activities Proceeds from sale of tangible assets Purchases of tangible assets Net cash used in investing activities Cash flows from financing activities Interest received Net cash provided by financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of year Cash and cash equivalents at end of year	2024 2023 Restated £ £ 477,806 70,436 97,715 88,754 - (1,169) (67,439) (17,503) 4,290 (17,458) (64,003) 412,216 401,984 (646,147)
	850,353 (110,871) 850,353 (110,871) - 1,650 (147,212) -
	(147,212) 1,650 67,439 17,503
	67,439 17,503 770,580 (91,718)
	3,378,203 3,469,921
	4,148,783 3,378,203

The accompanying notes form part of these financial statements.

Further details on the prior year restatement can be found in note 3.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

1. Accounting policies

Basis of preparation

These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with:

Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP);
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued September 2015; and
Charities Act 2011.

The charitable foundation constitutes a public benefit entity as defined by FRS 102.

Parent company disclosure exemptions

In preparing the separate financial statements of the parent company, advantage has been taken of the disclosure exemption available in FRS 102 and no cash flow statement has been presented for the parent charitable company.

Going concern

The Trustees have fully appraised the changing business environment facing the Charity, it has considered the financial projections set out in the long term Business Plan, assessed the strategic risks faced and the means available to it to mitigate these risks. The Trustee’s believe that due to a combination of these potential mitigating actions, and the continued support of its ultimate Parent Company, that the Charity has sufficient cash resources to meet its obligations as they fall due and has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and financial statements.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

1. Accounting policies (continued)

The Report of the Trustees includes the group’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments and its exposures to credit risk and liquidity risk.

After making enquiries, the Trustees have a reasonable expectation that the charitable company and the group have adequate resources to continue in operational existence for the foreseeable future.

Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Basis of consolidation

The group financial statements consolidate those of the charitable company and of its subsidiary undertaking. Intra–group transactions are eliminated on consolidation and all figures relate to external transactions only.

Income

Voluntary income comprises all income from donations, gifts and core funding grants. Income is recognised and included in the Statement of Financial Activities when the Group and/or Charitable Company has entitlements to the income, it is probable that the income will be received and the amount can be measured reliably.

Donations and legacies

All monetary donations and gifts are included in full in the statement of financial activities when receivable, provided that there are no donor–imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre–condition has been met.

Intangible income is valued and included in income to the extent that it represents goods or services which would otherwise be purchased. An equivalent amount is charged as expenditure. Voluntary help is not included as income.

Donations under Gift Aid together with the associated income tax recoveries are credited as income when the donations are received.

Grants receivable

Revenue grants are credited as income when they are receivable provided conditions for receipt have been complied with, unless they relate to a specified future period, in which case they are deferred.

Grants for the purchase of fixed assets are credited to restricted income when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.

Grants and related income subject to pre–conditions for use have been deferred to be released to the statement of financial activities as the pre–conditions are satisfied.

Investments income

Investment income, including associated income tax recoveries, is recognised when receivable.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

1. Accounting policies (continued)

Other trading activities

Other trading activities income represents amounts receivable for carrying out projects and programmes of work with non–grant aided funding.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of resources. Central overhead costs are allocated to operational functions on the basis of their use of central support services.

Governance costs are the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with charitable activities. Included within this category are costs associated with the strategic as opposed to day to day management of the charity's activities.

Support costs, which include executive and development, finance, ICT, external audit, legal, marketing, general office and administration, are allocated across categories of charitable expenditure, governance costs and the costs of generating funds. The basis of the cost allocation has been explained in note 10 to the accounts.

Irrecoverable VAT is charged as a cost to the statement of financial activities.

Grants payable

Grants payable are accounted for in full as liabilities of the charity when approved by the Trustees and the charity has created a valid expectation in other parties that the charity will discharge its obligations.

Fund accounting

Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are donations and other income received or generated for expenditure on the general objectives of the charity.

Designated funds are unrestricted funds which have been designated for specific purposes by the Trustees.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful economic lives. The rates generally applicable are;

Leasehold improvements 20% on cost Motor vehicles 20% on cost Project and office equipment 20% on cost Buildings 2% on cost

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

1. Accounting policies (continued)

Investments

Investments are included at cost, subject to any provision required for a permanent diminution in its value.

Leased assets

Rental costs payable under operating leases are charged to the income and expenditure account on a straight-line basis over the lease period.

Pension costs

Defined contribution scheme

The pension costs charged in the year represent the amount of the contributions payable to the scheme in respect of the accounting period.

Charitable donations under Gift Aid

Charitable donations under Gift Aid are recognised once there is a commitment as to the amount payable. This is at the point payment is made. Such payments, and the associated tax relief, are presented as movements in equity.

2. Significant judgements and key areas of estimation uncertainty

Directors consider there to be no items in the financial statements where they have had to make significant judgements in the process of applying the group’s accounting policies or key sources of estimation uncertainty.

3. Prior period restatement

During 2023/24 a prior period restatement was identified and corrected by management. This relates to amounts owed by/(to) fellow group undertakings between the Charitable Company and its subsidiary which had been included gross in error the Group debtors and creditors amounts falling due within oneyear figures.

The correction has resulted in a restatement to the Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows, and the notes to the financial statements.

See workings overleaf.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

3. Prior period restatement (continued)

Consolidated Statement of Financial Position

Original 2023 £ 162,516 1,724,051 3,378,203	Prior Period Adj £ - (409,869) -	Restated 2023 £ 162,516 1,314,182 3,378,203
5,102,254 (2,542,798)	(409,869) 409,869	4,692,385 (2,132,929) 2,559,456 2,721,972 (9,500)
2,559,456	-
2,721,972 (9,500)	- -
2,712,472	-	2,712,472
- 2,712,472	- -	- 2,712,472
2,712,472	-	2,712,472
Original 2023 £ 70,436 88,754 (1,169) (17,503) (17,458) 2,347 (236,278)	Prior Period Adj £ - - - - - 409,869 (409,869)	Restated 2023 £ 70,436 88,754 (1,169) (17,503) (17,458) 412,216 (646,147)
(110,871)	-	(110,871)

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

4a. Income from Donations and legacies The Group and Charitable Company 2024 £ Other donations 840,220 Donations received from Together Housing Association to further social value work. 4b. Income from Charitable activities – Community programmes The Group 2024 £ Community programmes 2,409,725 The Charitable Company 2024 £ Community programmes 985,136 4c. Income from Other trading activities The Group and Charitable Company 2024 £ Business services 2,583,389 Town Centre BID 324,832 Landscape services (180) 2,908,041 4d. Investments income The Group 2024 £ Bank deposits 67,439 The Charitable Company 2024 £ Bank deposits 43,456 4e. Other income The Group and Charitable Company 2024 £ Other income 5,244	2024 £ 840,220	2023 £ 463,552
		2023 £ 2,482,618
	2024 £ 985,136	2023 £ 755,091
	2024 £ 2,583,389 324,832 (180)	2023 £ 2,322,380 298,616 43,322
	2,908,041	2,664,318
	2024 £	2023 £
	67,439	17,503
	2024 £	2023 £
	43,456	14,440
	2024 £ 5,244	2023 £ 5,237

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

5. Operations of trading subsidiary

A summary of the results of the trading subsidiary is set out below. Turnover below includes intercompany amounts which are consolidated for the group position and resulting unrestricted funds.

2024 £ Turnover 4,523,268 Cost of sales (3,001,775) Gross profit 1,521,493 Other operating income 172,018 Administration costs (462,447) Charitable donations payable under Gift Aid (814,040) Bank interest receivable 23,983 Disposal of assets - Taxable (loss)/profit before tax 441,007 A summary of the balance sheet of the trading subsidiary is set out below. 2024 £ Fixed assets 133,322 Current assets 3,608,859 Creditors: amounts falling due within one year (2,278,722) Provisions (13,790) Total net assets 1,449,669 Share capital and reserves 1,449,669	2024 £ 4,523,268 (3,001,775)	2023 £ 4,632,637 (3,505,717)
	1,521,493 172,018 (462,447) (814,040) 23,983 -	1,126,920 111,046 (410,359) (1,136,612) 3,063 2,168
	441,007	(303,774)
		2023 £ 162,065 2,850,428 (1,990,041) (9,500) 1,012,952
	1,449,669	1,012,952

6. Analysis of expenditure on charitable activities

The Group

The Group
Community programmes Grants payable Total The Charitable Company Community programmes Grants payable Total	Activities undertaken directly £ 3,271,128 -	Grant funding of activities £ - 84,327	Support costs £ 45,462 -	Total 2024 £ 3,316,590 84,327
	3,271,128	84,327	45,462	3,400,917
	Activities undertaken directly £ 2,163,853 -	Grant funding of activities £ - 265,674	Support costs £ 212,235 -	Total 2024 £ 2,376,088 265,674
	2,163,853	265,674	212,235	2,641,762

above note classifications have been updated to better reflect disclosure in line with the charities SORP

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

6. Analysis of expenditure on charitable activities (continued)

The Group

Activities undertaken directly £ 3,317,222 -	Grant funding of activities £ - 69,218	Support costs £ 27,165 -	Total 2023 £ 3,344,387 69,218
3,317,222	69,218	27,165	3,413,605
Activities undertaken directly £ 1,569,959 -	Grant funding of activities £ - 310,012	Support costs £ 132,974 -	Total 2023 £ 1,702,933 310,012
1,569,959	310,012	132,974	2,012,945

above note classifications have been updated to better reflect disclosure in line with the charities SORP

7. Analysis of expenditure on raising funds

The Group and Charitable Company

Business services Town Centre BID Landscape services Other expenditure Total	Activities undertaken directly £ 1,572,265 313,331 (482) -	Grant funding of activities £ - - - -	Support costs £ - - - 462,542	Total 2024 £ 1,572,265 313,331 (482) 462,542
	1,885,114	-	462,542	2,347,656

The Group and Charitable Company

Business services Town Centre BID Landscape services Other expenditure Total	Activities undertaken directly £ 1,433,152 288,079 37,222 -	Grant funding of activities £ - - - -	Support costs £ - - - 410,359	Total 2023 £ 1,433,152 288,079 37,222 410,359
	1,758,453	-	410,359	2,168,812

above note classifications have been updated to better reflect disclosure in line with the charities SORP

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

8. Net income

The Group
Net income is stated after charging:
Auditors’ remuneration:
Fees payable to the group's auditor for the audit of the group's annual
financial statements
Depreciation:
Tangible fixed assets, owned
Other operating lease rentals
The Charitable Company
Net income is stated after charging:
Auditors’ remuneration:
Fees payable to the charitable company's auditor for the audit of the
company's annual financial statements
Depreciation:
Tangible fixed assets, owned

2024
2023
£
£
30,000
30,806
97,715
88,754
74,576
53,174
2024
2023
£
£
19,200
19,892
453
453

9. Grants payable

The Group and Charitable Company

The following projects overleaf were funded by the Charity in 2023/2024 in furtherance of Charitable Objectives (these objectives are listed in full on page 7). The value shown is the total grant allocated to the project which is generally for a 12-month period and may therefore extend beyond March 2024.

Project Name	Grants to Institutions
	Total amount
	£
Newground CIC 2023/24	181,347
Employment Commissions	64,327
CommunityGrants	20,000
Expenditure on charitable Activities - Unrestricted Reserves - the charitable company	265,674
Payments made from NT to NGCIC	(181,347)
Total for the charitablegroup	84,327

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

10. Support cost allocation

The Group

Community programmes £ - 19,200 8,611 17,651	Raising funds £ 237,294 10,800 8,012 206,436	Total 2024 £ 237,294 30,000 16,623 224,087	Total 2023 £ 231,632 30,806 6,902 168,184
45,462	462,542	508,004	437,524
Community programmes £ 166,774 19,200 8,611 17,650	Raising funds £ - - - -	Total 2024 £ 166,774 19,200 8,611 17,650	Total 2023 £ 105,809 19,892 2,808 4,465
212,235	-	212,235	132,974

above note classifications have been updated to better reflect disclosure in line with the charities SORP

Basis of support costs allocation.

Central support costs are allocated as follows:

Management recharge, estimated time spent on generating funds and governance.
External audit, calculated expenditure spent on governance.
Legal, calculated expenditure spent on governance.
General office and administration, estimated expenditure spent on generating funds and governance.

Total governance costs incurred during the year for the Group was £51,108 (2023: £37,992).

Total governance costs incurred during the year for the Charitable Company was £28,065 (2023: £22,984).

11. Tax on net income

Major components of tax credit

Deferred tax Origination and reversal of timing differences UK current tax (charge)/credit	2024 2023 £ £ 4,290 (17,458)
	4,290 (17,458)

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

11. Tax on net income (continued)

Reconciliation of Tax Group net income for year Expenditure not subject to tax Profit subject to tax Profit on ordinary activities by rate of tax 25% (2023: 19%) Fixed asset differences Expenses not deductible for tax Qualifying donations transferred Adjustment in respect of prior periods – deferred tax Total tax (charge)/credit	2024 £ 482,096 772,951 1,255,047	2023 £ 50,810 782,028 832,838
	313,762 1,092 120 (330,557) 19,873	158,239 104 - (172,023) (3,778)
	4,290	(17,458)

12. Staff costs

The Group Wages and salaries Social security costs Other pension costs Recharged wages The average number of employees during the year was as follows: Charitable activities and raising funds Management and administration of charity	2024 £ 3,360,815 310,612 276,018 (54,028)	2023 £ 3,349,690 312,385 278,233 (235,161)
	3,893,417	3,705,147
	2024 No 109 3	2023 No 119 3
	112	122

During the year, total full-time equivalents for all staff amounted to 102 (2023: 112).

Total key management personnel emoluments totalled £305,511 (2023: £290,168) of which £Nil (2023: £Nil) was recharged from fellow parent company. Key management personnel is defined as the senior management team.

The full-time equivalent staff (including Directors) who received emoluments including employer pension contributions (excluding employers national insurance contributions);

	2024	2023
	No	No
£60,001 to £70,000	-	-
£70,001 to £80,000	1	1
£80,001 to £90,000	-	1
£90,001 to £100,000	1	-
£100,001 to £110,000	1	1

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

12. Staff costs (continued)

The Group Director is the highest paid member of staff. His total emoluments including pension contributions equated to £105k (2023: £102k) made up as salary £95k (2023: £93k) and pension £10k (2023: £9k). He is an ordinary member of the pension scheme and no enhanced or special terms apply.

The Charitable Company Wages and salaries Social security costs Other pension costs The average number of employees during the year was as follows: Management and administration of charity	2024 £ - - -	2023 £ - - -
	-	-
	2024 No -	2023 No -

During the year, total full-time equivalents for all staff amounted to Nil (2023: Nil).

There were no employees receiving remuneration on a full-time equivalent basis (2023: Nil).

No trustee received remuneration in the year from the charity (2023: £Nil).

Expenses were reimbursed to the trustees during the year amounted to £255 (2023: £284).

Total key management personnel totalled £Nil (2023: £Nil).

13. Tangible fixed assets

The Group

The Group	The Group
Leasehold improvements £ Cost At 1 April 2023 26,627 Additions - Released on disposal (8,454) At 31 March 2024 18,173 Depreciation At 1 April 2023 26,174 Charge for year 453 Released on disposal (8,454) At 31 March 2024 18,173 Net book value At 31 March 2024 - At 31 March 2023 453		Assets under construction £ - 78,694 -	Motor vehicles £ 6,112 - -	Project and office equipment £ 523,536 68,518 -	Total £ 556,275 147,212 (8,454)
	18,173 26,174 453 (8,454)	78,694 - - -	6,112 6,112 - -	592,054 361,473 97,262 -	695,033 393,759 97,715 (8,454)
	18,173 -	- 78,694	6,112 -	458,735 133,319	483,020 212,013
	453	-	-	162,063	162,516

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

Tangible fixed assets (continued)

The Charitable Company

The Charitable Company
Cost At 1 April 2023 Additions Released on disposal At 31 March 2024 Depreciation At 1 April 2023 Charge in year Released on disposal At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	Assets under construction £ - 78,694 -	Leasehold improvements £ 26,627 - (8,454)	Total £ 26,627 78,694 (8,454)
	78,694	18,173	96,867
	- - -	26,174 453 (8,454)	26,174 453 (8,454)
	-	18,173	18,173
	78,694	-	78,694
	-	453	453

All tangible fixed assets are used for charitable purposes.

14. Investments

The Charitable Company

Cost at 1 April 2023 and 31 March 2024

£ 5

At 31 March 2024 the company held 20% or more of the allotted share capital of the following:

		Proportion of
	Class of	nominal
	share capital	value
	held	held
Newground CIC	Ordinary	100%
The Compliance People Ltd	Ordinary	100%
Groundwork Pennine Lancashire Ltd	Ordinary	100%
Flood Hub Ltd (Previously Sustainable
Business Hub Ltd)	Ordinary	100%

Newground CIC holds 100% of the allotted share capital of Groundwork Limited and Groundwork Contract Services Limited. All of these subsidiaries are dormant. The registered office is the same as Newground Together.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

15. Debtors

Trade debtors Other debtors Amounts owed by fellow group undertakings Prepayments and accrued income	The Group The Charitable Company 2024 2023 2024 2023 Restated £ £ £ £ 962,840 1,059,724 - - - 525 - - 31,387 25,350 - - 383,957 228,583 210,556 20,561 1,378,184 1,314,182 210,556 20,561	The Group The Charitable Company 2024 2023 2024 2023 Restated £ £ £ £ 962,840 1,059,724 - - - 525 - - 31,387 25,350 - - 383,957 228,583 210,556 20,561 1,378,184 1,314,182 210,556 20,561
	1,378,184	20,561

Amounts due from group undertakings are due on demand and are not subject to interest.

16. Creditors amounts falling due within one year

Trade creditors Other taxation and social security Amounts owed to fellow group undertakings Accruals and deferred income	The Group The Charitable Company 2024 2023 2024 2023 Restated £ £ £ £ 171,410 195,747 - - 203,259 171,625 - - 109 162 462,698 410,031 2,160,134 1,765,395 256,081 142,726 2,534,913 2,132,929 718,779 552,757	The Group The Charitable Company 2024 2023 2024 2023 Restated £ £ £ £ 171,410 195,747 - - 203,259 171,625 - - 109 162 462,698 410,031 2,160,134 1,765,395 256,081 142,726 2,534,913 2,132,929 718,779 552,757
	2,534,913	552,757

Accruals and deferred income include pension contributions paid after the year end amounting to £Nil (2023: £Nil) for the group. Amounts due to group undertakings are repayable on demand and are not subject to interest.

17. Deferred income

The Group

The Group
At 31 March 2023 Income released during the year Amounts deferred in year At 31 March 2024	£ 1,393,486 (1,393,486) 1,803,104
	1,803,104

The Charitable Company

At 31 March 2023 Income released during the year Amounts deferred in year At 31 March 2024	£ 22,516 (22,516) 150,763
	150,763

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

18. Provisions

The Group

At 31 March 2023 Charged to profit and loss At 31 March 2024	£ 9,500 4,290
	13,790

Deferred tax provisions relate to timing differences in the accounting and taxation for fixed assets.

19. Income funds

Income funds are analysed as follows:

The Group

The Group
	Balance			Balance
	31 March			31 March
	2022	Income	Expenditure	2023
	£	£	£	£
Restricted
Other restricted reserves	-	755,091	(755,091)	-
Other unrestricted funds	2,642,036	4,880,305	(4,809,869)	2,712,472
	2,642,036	5,635,396	(5,564,960)	2,712,472
The Group

The Group
	Balance			Balance
	31 March			31 March
	2023	Income	Expenditure	2024
	£	£	£	£
Restricted
Other restricted reserves	-	985,136	(985,136)	-
Other unrestricted funds	2,712,472	5,245,533	(4,767,727)	3,190,278
	2,712,472	6,230,669	(5,752,863)	3,190,278

Restricted funds

Restricted funds represent grants received from funders that have not yet been spent on specific projects for which the funds were advanced.

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

19. Income funds (continued)

Other unrestricted funds comprise funds generated by Newground CIC and general unrestricted charitable funds as follows:

Balance 31 March 2023 £ 1,699,526 -	Total £ 2,712,472 477,806	Restricted General charitable funds Funds generated by Newground £ £ £ - 1,919,489 792,983 - 41,090 436,716	Restricted General charitable funds Funds generated by Newground £ £ £ - 1,919,489 792,983 - 41,090 436,716
	3,190,278	-	1,960,579 1,229,699
	Income £ 1,697,716 985,136	Expenditure (incl. tax) £ (1,656,626) (985,136)	Balance 31 March 2024 £ 1,740,616 - 1,740,616
1,699,526	2,682,852	(2,641,762)

20. Analysis of net assets between funds

The Group

The Group
Fixed assets Current assets Provisions Current liabilities Total net assets The Charitable Company Fixed assets Investments Current assets Current liabilities Total net assets	Unrestricted funds £ 133,319 5,989,556 (13,790) (2,918,807)	Restricted funds £ 78,694 - - (78,694)	Total funds £ 212,013 5,989,556 (13,790) (2,997,501)
	3,190,278	-	3,190,278
	Unrestricted funds £ - 5 2,380,696 (640,085)	Restricted funds £ 78,694 - - (78,694)	Total funds £ 78,694 5 2,380,696 (718,779)
	1,740,616	-	1,740,616

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

21. Financial commitments

The Group

The future minimum operating lease payments are as follows:

Operating leases which expire: within one year within two to five years	Land and buildings £ 61,362 51,000	2024 Other £ - -	Land and buildings £ 65,674 85,000	2023 Other £ - -
	112,362	-	150,674	-

22. Retirement benefits

The group operates a defined contribution pension scheme for the benefit of the employees. The assets of the scheme are administered by the trustees in a fund independent from those of the group.

23. Related party transactions

As a parent company of Newground CIC, the charitable company is exempt from the requirements of Financial Reporting Standard 102, to disclose transactions with Newground CIC.

Year ended 31 March 2024

	Sales made by	Purchases
Related party	the	made by the	Owed to the	Owed by the
	group	group	group	group
	£	£	£	£
Together Housing Association	1,044,049	-	-	31,278

Together Housing Association is a fellow subsidiary of Together Housing Group, Together Housing Group is the ultimate controlling party of Newground Together.

24. Net debt reconciliation

The Group Cash at bank and in hand Total	At 1 April 2023 £ 3,378,203	Cash-flows £ 770,580	At 31 March 2024 £ 4,148,783
	3,378,203	770,580	4,148,783

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

25. Comparative Statement of Financial Activities

Unrestricted general funds £ 463,552 1,727,527 2,664,318 17,503 5,237	Restricted funds £ - 755,091 - - -	Total 2023 £ 463,552 2,482,618 2,664,318 17,503 5,237
4,878,137	755,091	5,633,228
(2,168,813) (2,589,296) (69,218)	- (755,091) -	(2,168,813) (3,344,387) (69,218)
(4,827,327)	(755,091)	(5,582,418)
50,810 2,168 17,458 70,436 2,642,036	- - - - -	50,810 2,168 17,458 70,436 2,642,036
2,712,472	-	2,712,472

Newground Together Financial statements for the year ended 31 March 2024

Notes to the financial statements (continued)

Comparative Statement of Financial Activities (continued)

Unrestricted general funds £ 463,553 - 14,440 1,136,612	Restricted funds £ - 755,091 - -	Total 2023 £ 463,553 755,091 14,440 1,136,612 2,369,696 (1,702,933) (310,012)
1,614,605	755,091
(947,842) (310,012)	(755,091) -
(1,257,854)	(755,091)	(2,012,945)
356,751 356,751 1,342,775	- - -	356,751 356,751 1,342,775 1,699,526
1,699,526	-

Financial Statements Newground Together

For the year ended 31 March 2024

Index to financial statements

Company information

Report of the Trustees

Structure, governance and management

Governing document

Organisation

Appointment of trustees

Report of the Trustees (continued)

Trustee induction and training

Objectives and activities

Report of the Trustees (continued)

Public benefit

Strategic Report

Achievements and performance

Report of the Trustees (continued)

Report of the Trustees (continued)

Plans for the future

Risk management

Governance Code

Report of the Trustees (continued)

Going Concern

Financial review

Report of the Trustees (continued)

Financial risk management objectives and policies

Investment powers and policy

Report of the Trustees (continued)

Trustees’ responsibilities statement

Auditors

Independent Auditor’s Report to the Members of Newground Together

OPINION ON THE FINANCIAL STATEMENTS

BASIS FOR OPINION

Independence

CONCLUSIONS RELATED TO GOING CONCERN

Independent Auditor’s Report to the Members of Newground Together

OTHER INFORMATION

OTHER COMPANIES ACT 2006 REPORTING

RESPONSIBILITIES OF TRUSTEES

Independent Auditor’s Report to the Members of Newground Together

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Extent to which the audit was capable of detecting irregularities, including fraud

Non-compliance with laws and regulations

Independent Auditor’s Report to the Members of Newground Together

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Fraud

Independent Auditor’s Report to the Members of Newground Together

USE OF OUR REPORT

17 December 2024

Consolidated statement of financial activities (incorporating a consolidated income and expenditure account)

Charitable company statement of financial activities (incorporating a charitable company income and expenditure account)

Consolidated statement of financial position

M S Gore Director

Charitable company statement of financial position

M S Gore Director

Consolidated statement of cash flows

Notes to the financial statements (continued)

1. Accounting policies

Company information

Basis of preparation

Parent company disclosure exemptions

Going concern

Notes to the financial statements (continued)

1. Accounting policies (continued)

Basis of consolidation

Income

Donations and legacies

Grants receivable

Investments income

Notes to the financial statements (continued)

1. Accounting policies (continued)

Other trading activities

Expenditure

Grants payable

Fund accounting

Tangible fixed assets and depreciation

Notes to the financial statements (continued)

1. Accounting policies (continued)

Investments