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2024-03-31-accounts

Northamptonshire Association of Youth Clubs Financial Statements Year Ended 31 March 2024

Charity registration number: 803431 Company registration number: 02484603 (England and Wales)

Northamptonshire Association of Youth Clubs Financial Statements Year Ended 31 March 2024

Contents
Page
Charity Reference and Administrative Details 1
Trustees’ Annual Report (Including Directors’ Report and Strategic Report) 2
Independent Auditor’s Report 8
Group Statement of Financial Activities 12
Group and Parent Charitable Company Profit and Loss Account 13
Group and Parent Charitable Company Balance Sheet 14
Group Statement of Cash Flows 15
Notes to the Financial Statements 16

Northamptonshire Association of Youth Clubs

Charity Reference and Administrative Details

Year Ended 31 March 2024

Charity registration number 803431 Company registration number 02484603 Trustees Mr D E Darby Rev D Shearer Dr F Cole Bp J Holbrook Mrs M Walker Rev J Nickols Chief executive officer Mr J M Whittaker Registered office Kings Park Kings Park Road Northamptonshire NN3 6LL Auditor Moore Chartered Accountants Statutory Auditors Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ

1

Northamptonshire Association of Youth Clubs

Trustees' Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

Mr D E Darby Mr D E Laing (Resigned 21 March 2024) Rev D Shearer Rev A Eakins (Resigned 23 May 2024) Dr F Cole Bp J Holbrook Mrs M Walker Rev J Nickols

Objectives and activities

The principal activity of the group continues to be the helping and educating of young people especially, but not exclusively, through their leisure time activities so as to develop their physical, mental and spiritual capacities in order that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved.

This is achieved by:

Strategies for achieving the aim have included building and development of a number of major facilities, including the Hereward Wake Training and Conference Centre, Benham Sports Centre and Indoor Tennis Centre at King’s Park, Northampton; Pioneer Activity and Conference Centre near Kidderminster; Whitemoor Lakes Centre, near Lichfield; Frontier Centre near Irthlingborough – now run by Rock UK; The Ranch Outdoor Discovery Centre in North Wales – now run by the CMC Adventure; and an Expedition Base on the Isle of Harris in the Outer Hebrides – now known as the Scaladale Centre and run by Lewis and Harris Youth Clubs Association.

NAYC helps young people by setting up and supporting youth clubs and providing activities (sports, arts, and leadership training) which improve self-esteem, social skills, combat under-achievement and promote inclusion.

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Northamptonshire Association of Youth Clubs

Trustees’ Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

Residential experiences provide opportunities for young people to become positive about the future. The work specifically offers those living in poverty, difficult circumstances and young people at-risk, those with disabilities, special needs, serious and life-threatening illnesses, the opportunity to develop their character, independence, teamwork and self-confidence – breaking the chain of boredom, truancy, vandalism, addiction, petty crime and drugs.

Survey results show that youth groups value our activity sessions the most, where we deliver engaging activities using the equipment and resources from our Games Pack which includes 150 different activities, sports, games, crafts, special needs, quizzes, and team building exercises. The top 3 requested activities were Sumo Suits, Hungry Hippos and Curling! In January we welcomed 90 youth leaders and special guest, Vice Lord-Lieutenant Morcea Walker, to our Annual Awards celebration to recognise the amazing work of our volunteers across the county, presenting various awards and certificates to group leaders. April saw us take youth group leaders away on a weekend residential to the Pioneer Centre to see the facilities and experience the activities on offer. We also organised a free residential for local groups who work with disadvantaged young people.

King's Park Conference Centre

King’s Park provides facilities for training over 20,000 leaders from the UK and abroad each year. We take pride in serving these leaders from faith and community groups, schools, special needs groups and charities knowing that they are focused on serving others. The spinney area, situated between the Conference Centre and Benham Sports Centre, has now been redeveloped. It still retains the relaxed feel with trees, a pathway and now seating, but also has a classroom and activities for children. The area has been fenced in, which allows children to play freely without the worry that they can wander off. This is a great facility and when it has not been booked by a group, it is available as a quiet secluded place to sit and read. It has been an exciting and busy year for us, and we are looking forward to this year to welcome new groups and see our friends returning for their annual or bi-annual event at King’s Park.

King's Park Sports

Benham Sports Centre provides over 18 sporting activities from roller skating to rock climbing whilst the Indoor Tennis Centre offers fantastic facilities for all levels and abilities. The 2 centres are well used by the general public, affiliated youth groups and special needs groups. We work with a number of partner organisations in order to provide these opportunities, including Northamptonshire Trampoline Gymnastics Academy (NTGA), with whom we share the Benham Sports Centre, and provide sessions in trampolining, gymnastics & climbing, and have been an integral part of the centre since it’s opening. Pacesetter Sports and Northamptonshire Sport run school holiday activity camps on our behalf, Northampton Tennis Coaching operate a tennis coaching & tournament programme and Sk8house, who run the main roller-skating sessions at the centre. We continue to work very closely with The Cube Disability, who remain the backbone for children and young people with special educational needs or a disability, by providing amazing opportunities through holiday camps and regular sporting sessions.

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Northamptonshire Association of Youth Clubs

Trustees’ Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

Pioneer Centre

Pioneer is situated in a beautiful rural setting near Kidderminster offering a high standard of accommodation and an extensive range of activities. A variety of groups from locations across the UK and beyond come and experience excellent facilities and programmes and many return every year. It’s often the work that’s unseen and unpraised that keeps the centre running. This work can be likened to ‘painting the Forth Road Bridge’ – you get to the end and must start all over again! Things like preparing 3 meals every day, maintaining 100’s of toilet flushes, cleaning each almost identical room 3 or 4 times a week and even ensuring the same training with the new intake of annual staff. We thank all the staff at every level and role for their diligence and perseverance week-in-and-out. Thank you for your tireless efforts.

Whitemoor Lakes

Whitemoor Lakes is a purpose-built lakeside conference and activity centre, enjoying views across a beautiful 40-acre lake. The centre offers a full range of activities, including sailing. The centre was developed from a vision John and Sylvia Gilmour had to help fulfil the potential of the lakes that were being created following the extraction of sand and gravel. Once again, we would like to express our heartfelt gratitude for the tireless high standards given by our staff and trainees throughout the last 12 months. We believe their energy and enthusiasm underpins our ongoing success and strong reputation for high quality service. Their commitment to our vision and values guide what we do and how we do it. This resulted in an amazing 97.9% satisfaction by guests visiting the centre.

Strategic Report

Achievements and performance (including principal risks and uncertainties, development and performance and key performance indicators)

Risk management

A risk management strategy is in place which comprises the risks the charity may face, establishing systems to mitigate those risks and procedures to minimise the potential impact.

Policies are in place for safeguarding, employment issues and health and safety, they are administered from head office, with independent external verification where possible, and staff recruitment, training and supervision procedures implementing these policies throughout the organisation.

Funds are allocated annually for on-going maintenance and replacement and maintenance plans are regularly reviewed to ensure building and facilities remain in good order and appropriate for young people. Commercial insurance cover is maintained annually to cover public and employer’s liabilities and to insure buildings and facilities for replacement value, and to insure the organisation against loss of income.

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Northamptonshire Association of Youth Clubs

Trustees’ Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

Financial key performance indicators

The directors have monitored the progress of overall group strategy and the individual strategic elements by reference to certain key performance indicators:

Financial review (including reserves policy)

Details of the results for the year are given on pages 12 and 13.

Taking into account the on-going responsibilities of Northamptonshire Association of Youth Clubs (NAYC) and Action Centre UK Limited to its staff and user groups, the Board of Directors/Trustees aim to maintain a reserves fund of £240,000.

This fund is to cope with any sudden or unexpected setback resulting in the cutting of income streams, and to enable NAYC and Action Centres UK Limited to meet with statutory and other obligations.

An overdraft facility for £130,000 is available. NAYC and Action Centres UK Limited are committed to repaying these facilities from increased covenant.

At the year end the group had total reserves of £14,534,854, of which £11,454,715 was restricted. Of the total reserves balance, £17,934,782 relates to Fixed Assets Funds (made up of £11,589,303 restricted funds and £6,345,479 unrestricted). The net reserves held at the year end after making allowance for restricted and fixed asset funds was overdrawn by £3,399,928.

The trustees do not see this as an issue because the fixed assets represent the centres which create the income for the charity and the trading company.

Plans for future periods

The start of 2024 saw King’s Park Sports introduce a whole new facility, an opportunity we haven’t had in quite some time. Our new outdoor football pitches have proved an excellent addition to our Tennis Centre, immediately attracting interest from local clubs and youth groups. The multi-use games area (MUGA) surface also allows for more varied usage of the space, being ideal for other sports like hockey or American football. We are also privileged to see a lot of usage by Pacesetters, who spend multiple hours a day during holiday camps making the most of this new area. With pristine, sand-based needle punch, 12x6 stadium box goals, and an 8metre high net, our football pitches really are our best addition so far.

Refurbishment and repair at Pioneer Centre always continue alongside the bigger new builds and this year several guest heating boilers and the whole site Wi-Fi system were updated; in addition to replacement of the sports hall floor (due to flood damage) and all new inflatables to replace the old ones. Not to rest on our developments, the Pioneer now boasts a new Multi Use Games Area, or MUGA for short and a much needed third campfire area.

Whitemoor Lakes shares a common vision for the future – to enjoy steady growth, hosting an ever-greater number of youth and church residentials and bring to the local, regional, national, and international arena, a top-quality outdoor training & water sports centre.

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Northamptonshire Association of Youth Clubs

Trustees’ Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

Political donations and expenditure

There were no political donations during the year. Charitable donations were made to various bodies in the normal course of the charity’s activities.

Financial instruments

The charity does not actively use financial instruments as part of its risk management. It is exposed to the usual credit risk and cash flow risk associated with selling on credit and manages this through credit control procedures.

Research and development

The group does not undertake any research and development activities.

Disabled Persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Fundraising

The group has not carried out significant fundraising activity in the year.

Pay policy

The Trustees consider that the Management Team comprise the key management personnel of the Trust in charge of the directing and running of Northamptonshire Association of Youth Clubs and Action Centres UK Limited on a day-to-day basis.

The remuneration of the senior staff is reviewed by the Trustees on an annual basis considering the requirements of their role and performance during the year.

6

Northamptonshire Association of Youth Clubs

Trustees’ Annual Report (including Directors Report and Strategic Report)

Year Ended 31 March 2024

Trustees’ responsibilities

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

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

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

In so far as the trustees are aware:

Disclosure of information to the auditors

We, the directors of the company who held office at the date of approval of these financial statements as set out above each confirm, so far as we are aware, that:

In approving the Trustees' Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

On behalf of the board Dr Frank Cole

Date 29 August 2024

7

Northamptonshire Association of Youth Clubs

Independent Auditor's Report Year Ended 31 March 2024

Opinion

We have audited the financial statements of Northamptonshire Association of Youth Clubs for the year ended 31 March 2024 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Profit and Loss Account, the Group and Parent Charitable Company Balance Sheet, the Group Statement of Cash Flows and the related 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 are independent of the group 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern

We draw attention to note 1(q) in the financial statements, which explains the impact on the group of the legacy of the Coronavirus crisis and the cost of living crisis and the measures taken by the board. The board considers that these measures will lead to a return of normal levels of operation. There remains a high level of uncertainty as to what may transpire over the next financial year. As stated in note 1(q) these conditions indicate that a material uncertainty exists which may cast signifcant doubt on the group’s ability to continue as a going concern. Our opinion is not qualified in respect of this matter.

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.

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

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Northamptonshire Association of Youth Clubs

Independent Auditor's Report Year Ended 31 March 2024

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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

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

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees 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 determine 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 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 company or to cease operations, or have no realistic alternative but to do so.

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Northamptonshire Association of Youth Clubs

Independent Auditor's Report Year Ended 31 March 2024

Auditor's responsibilities for the audit of the financial statements

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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

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

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Northamptonshire Association of Youth Clubs

Independent Auditor's Report Year Ended 31 March 2024

Use of our report

This report is made solely to the charitable company’s trustees, 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 trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Amanda Etty (Senior Statutory Auditor) 16 September 2024 for and on behalf of Moore Chartered Accountants Oakley House Statutory Auditor Headway Business Park

3 Saxon Way West Corby Northamptonshire NN18 9EZ

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Northamptonshire Association of Youth Clubs

Group Statement of Financial Activities

Year Ended 31 March 2024

Unrestricted Restricted Total Total
Note funds funds 2024 2023
£ £ £ £
Income and endowments from:
Donations and legacies 2 146,555 147,114 293,669 318,709
Charitable activities 3 29,623 - 29,623 23,481
Other trading activities 4 6,972,786 - 6,972,786 6,324,062
Investments 5 57,032 - 57,032 69,575
Miscellanous income 62 - 62 -
Total income and endowments 7,206,058 147,114 7,353,172 6,735,827
Expenditure on:
Raising funds 6,285,386 - 6,285,386 69,420
Charitable activities 6/7 880,021 85,860 965,881 752,326
Other gains and losses 13 - (4,443) (4,443) 32,813
Other trading activities - - - 5,658,608
Total Expenditure 7,165,407 81,417 7,246,824 6,513,167
Net income/(deficit) 40,651 65,697 106,348 222,660
Transfers between funds (54,125) 54,125 - -
Net movement in funds (13,474) 119,822 106,348 222,660
Reconcilliation of funds:
Total funds brought forward 3,093,613 11,334,893 14,428,506 14,205,846
Total funds carried forward 21 3,080,139 11,454,715 14,534,854 14,428,506

All income and expenditure derives from continuing activities.

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

The notes on pages 16 to 36 form part of these financial statements.

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Northamptonshire Association of Youth Clubs

Group and Parent Charitable Company Profit and Loss Account

Year Ended 31 March 2024

Group Group Company Company
2024 2023 2024 2023
Note £ £ £ £
Income 1/11 7,292,027 6,662,359 322,792 338,488
Direct costs (5,191,870) (4,655,966) (192,050) (221,677)
Gross surplus/(deficit) 2,100,157 2,006,393 130,742 116,811
Administration expenses (2,551,947) (2,390,187) (620,024) (527,414)
Other operating income 699,781 708,776 650,113 667,414
Operating surplus/(deficit) 247,991 324,982 160,831 256,811
Interest receivable 7,864 3,191 - -
Interest payable (149,507) (105,514) (149,507) (105,514)
Surplus/(deficit) on ordinary 8 106,348 222,659 11,324 151,297
activities before and after taxation
Retained surplus at 1 April 2023 14,381,625 14,158,966 14,894,877 14,743,580
Retained surplus at 31 March 2024 14,487,973 14,381,625 14,906,201 14,894,877

The above results are derived from continuing operations. All gains and losses recognised in the year are included above.

The retained surplus will be committed to helping to repay capital borrowings and to finance further capital asset expenditure.

The charity is committed to a policy of ongoing investment into capital assets to further their work with young people.

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Northamptonshire Association of Youth Clubs

Group and Parent Charitable Company Balance Sheet

Year Ended 31 March 2024

Year Ended 31 March 2024
Group Company
Group 2023 -as Company 2023 - as
2024 restated 2024 restated
Note £ £ £ £
Fixed assets
Tangible assets 12 17,934,782 17,654,796 17,943,782 17,663,798
Investments 13 - - 2 2
17,934,782 17,654,796 17,943,784 17,663,800
Current assets
Stocks 14 54,263 50,918 - -
Debtors 15 238,390 318,258 90,804 225,272
Cash at bank and in hand 16 393,126 541,738 42,857 152,910
685,779 910,914 133,661 378,182
Less creditors:
Amounts falling due within
one year 17 (2,735,922) (2,582,360) (1,774,579) (1,545,381)
Net current liabilities (2,050,143) (1,671,446) (1,640,918) (1,167,199)
Total assets less current liabilities 15,884,639 15,983,350 16,302,866 16,496,601
Less creditors:
Amounts falling due after more
than one year 18 (1,349,785) (1,554,844) (1,349,785) (1,554,844)
Net assets 14,534,854 14,428,506 14,953,081 14,941,757
Represented by capital
and reserves
Restricted funds 21 11,454,715 11,334,893 11,454,717 11,334,894
Revaluation reserve 21 46,881 46,881 46,881 46,881
Unrestricted funds 21 3,033,258 3,046,732 3,451,483 3,559,982
14,534,854 14,428,506 14,953,081 14,941,757

The financial statements were approved and authorised for issue by the Board on 29 August 2024 Signed on behalf of the board of trustees Dr Frank Cole

The notes on pages 16 to 36 form part of these financial statements. Company registration number: 02484603

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Northamptonshire Association of Youth Clubs

Group Statement of Cash Flows

Year Ended 31 March 2024

Cash flows from operating actvities
(Deficit)/Surplus
Adjustments for:
Depreciation
Other gains or losses
Adjustment of covenanted income
Increase in stocks
Increase in debtors
Increase in creditors
Interest received
Cash generated from operations
Cash flows from investing activities
Interest received
Payments for tangible fixed assets
Net cash flow from investing activities
Cash flows from financing activities
Repayment of loans
Net cash flow from financing activities
Net increase/(decrease) in cash
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Consisting of:
Cash at bank and in hand		 £
£
106,348
228,887
(4,443)
-
(3,345)
79,868
88,657
(7,864)
381,760
488,108
7,864
(139,348)
(131,484)
(505,236)
(505,236)
(148,612)
541,738
393,126
393,126
393,126
2024		 £
£
222,659
158,201
32,813
21,822
(16,100)
101,250
344,248
(3,191)
639,043
861,702
3,191
(140,150)
(136,959)
(479,387)
(479,387)
245,356
296,382
541,738
541,738
541,738
2023 - as restated

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Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

1 Summary of significant accounting policies

(a) General information and basis of preparation

Northamptonshire Association of Youth Clubs is a charitable company registered in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is provided in the Trustees’ Annual Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 01 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2022, the Companies Act 2006, and UK Generally Accepted Practice as it applies from 1 March 2018.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legallyentitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The charity receives government grants in respect of youth work. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes, such as property. It includes interest and rent. Interest income is recognised using the effective interest method and rental income is recognised as the charity’s right to receive payment is established.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

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Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

(d) Expenditure recognition (continued)

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 6.

f) Depreciation of fixed assets

Depreciation has been computed to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:-

Freehold property Not depreciated / evenly over 50 years (see below) Leasehold property evenly over the period of the lese Activity equipment and fixtures and fittings 25% p.a straight line or on reducing balance Office equipment 20% p.a on reducing balance Motor vehicles 25% p.a straight line Computer equipment 50% p.a on reducing balance or evenly over the ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''period of the lease

All depreciation calculations are made from the date of acquisition of an asset to the date of disposal of an asset.

Freehold property (except the Harris Base property) has not been depreciated because, in the opinion of the trustees, the properties are continually maintained and kept in excellent order such that the residual values are expected to be at least equal to cost. The Harris Base property is being written off over 50 years.

(g) Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the SOFA.

18

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

(h) Investments

Investments in subsidiaries are measured at cost less impairment.

(i) Stocks

Stocks are valued consistently at the lower of cost (on a first in first out basis) or net realisable value.

(j) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(k) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

(l) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(m) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(n) Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis

(o) Pension costs

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

19

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

(p) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2022 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(q) Going concern

These financial statements have been prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future.

The trustees have considered the potential impact of the legacy of the coronavirus pandemic and the ongoing cost of living crisis, on the operations of the charity. It is expected that the cost of living crisis will continue to impact global economies throughout 2024, together with other matters such as supply chain issues. The trustees believe that the worst of the pandemic is now behind them, but there remains a high level of uncertainty over the cost of living crisis. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is considered sufficient in conjunction with the level of reserves held for the charity to be able to continue as a going concern.

(r) Group accounts

Group accounts have been prepared as required by The Charities SORP (FRS 102).

The consolidated financial statements include the audited financial statements of the charity and its subsidiary made up to 31 March 2024

A separate Statement of Financial Activity for the parent trust has not been prepared as permitted by paragraph 397 of the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP (FRS 102)).

The net increase in funds for the year for Northamptonshire Association of Youth Clubs is £11,324.

(s) Critical accounting estimates and judgements

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

The Trust makes estimates and assumptions concerning the future. The resulting accounting estimates will seldom equal the related actual results. As of the balance sheet date the Trust has no significant estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the foreseeable future.

20

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

2 Income from donations and legacies

Unrestricted Restricted Total Total
funds funds 2024 2023
£ £ £ £
Donations and legacies 146,055 131,364 277,419 303,287
Grants 500 15,750 16,250 15,422
146,555 147,114 293,669 318,709
3








 Income from charitable activities
Sports, activities and crafts
Affiliations
DBS fee income
Training Weekend
Wellbeing
Fundraising income - marathon
CMAS Appeal
Club Leaders dinner income
Emerging Leaders		 7,974
5,572
3,198
1,006
300
7,596
2,800
492
685		 -
-
-
-
-
-
-
-
-		 7,974
5,572
3,198
1,006
300
7,596
2,800
492
685		 3,168
4,997
2,396
2,242
319
2,267
6,748
390
954
29,623 - 29,623 23,481

4 Income from other trading activities

Action Centres UK Limited
trading income
Other miscellaneous income		 Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
Total
2023
£
6,969,235
-
6,969,235
6,323,872
3,551
-
3,551
190
6,972,786
-
6,972,786
6,324,062

5 Income from investments

Property rental income
Bank interest		 Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
Total
2023
£
49,168
-
49,168
66,384
7,864
-
7,864
3,191
57,032
-
57,032
69,575

21

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

6 Analysis of expenditure on charitable activities

Sports, activities and crafts
Affiliations
Minibus hire
General youth development
School project
Uganda project
7 Governance costs
Administration salaries
Audit and accountancy
Telephone
Postage and stationery
Computer sundries
Sundries
Legal and professional
Printing and publicity
Fund raising costs
8 Net income for the year
Net income is stated after charging:
Depreciation
Other gains and losses
Auditor's remuneration
Bank interest on loans and overdrafts
Other loan interest
Hire purchase interest
Operating lease rentals - plant and
machinery and equipment
Cost of stock recognised
as an expense (ACUK Ltd)		 Activities
undertaken
directly
£
Grant
funding
of activities
£
Support
costs
£
Total
£
-
-
61,734
61,734
3,564
-
61,734
65,298
-
-
12,348
12,348
157,027
32,271
234,585
423,883
-
-
246,932
246,932
-
19,341
-
19,341
160,591
51,612
617,333
829,536
Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
Total
2023
£
114,269
-
114,269
36,155
11,950
-
11,950
11,375
25
-
25
19
273
-
273
720
535
-
535
492
9
-
9
-
3,770
-
3,770
4,583
727
-
727
1,337
344
-
344
-
131,902
-
131,902
54,681
Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
22,887
158,200
228,887
158,200
-4,443
32,813
-4,443
32,813
21,250
15,050
11,950
7,525
52,525
51,634
52,525
51,634
49,164
23,343
49,164
23,343
47,818
30,537
47,818
30,537
14,837
15,375
14,837
15,375
1,067,637
979,589
-
-

22

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

9 Trustees' and key management personnel remuneration and expenses

The total amount of employee benefits received by key management personnel is £38,592 (2023: £37,312) The trustees’ consider its key management personnel compromise the Board of Trustees/Directors and the Chief Executive Officer.

The trustees did not have any expenses reimbursed during the year.

10 Staff costs

Wages and salaries
Social security cost
Pension cost		 2024
£
2023
£
3,746,472
3,144,634
245,599
209,975
71,155
56,844
4,063,226
3,411,453

Within staff costs is £3,797,752 (2023: £3,196,125) relating to the subsidiary undertaking, Action Centres UK Limited.

There are no employees with emoluments above £60,000.

The average number of employees, analysed by function was:

Management and administration
Youth work activities
Fundraising and publicity		 Group
2024
Group
2023
Company
2024
Company
2023
28
20
3
4
239
217
6
4
1
1
1
1
268
238
10
9

11 Income analysed by activity and area

The group’s income was derived entirely from within the UK and was entirely attributable to its principal activity.

23

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

12 Tangible fixed assets

a) Group

Cost:
At 1 April 2023
Additions during the year
At 31 March 2024
Depreciation:
At 1 April 2023
Charge for year
At 31 March 2024
Net book value:
At 31 March 2024
At 31 March 2023		 Freehold
land and
buildings
£
Activity
equipment
£
Motor
vehicles
£
Fixtures,
fittings and
office
equipment
£
Total
£
16,904,340
1,876,152
37,686
1,882,492 20,700,670
-
160,600
35,658
312,615
508,873
16,904,340
2,036,752
73,344
2,195,107 21,209,543
86,162
1,249,071
36,806
1,673,835
3,045,874
6,368
102,698
5,471
114,350
228,887
92,530
1,351,769
42,277
1,788,185
3,274,761
16,811,810
684,983
31,067
406,922 17,934,782
16,818,178
627,081
880
208,657 17,654,796

b) Company

The net book value of the fixed assets of the company is £17,943,782. The difference of £9,000 between the group’s net book value and the company’s net book value is on the cost of the freehold property at Pioneer. Action Centres UK Limited raised an internal invoice to NAYC for the use of facilities by the builders during some construction work. This amount has been eliminated on consolidation.

24

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

c) Assets included at valuation

The following assets are included at valuation.

Original Amount of
cost valuation Year of
£ £ valuation
Property on Isle of Harris 3,084 50,000 1995
The comparable historical cost figures are as follows:
Land and
buildings
£
Cost at 1 April 2023 and 31 March 2024 3,084
Net book value at 31 March 2024 25,043

13 Fixed asset investments

Cost:
At 1 April 2023
At 31 March 2024
Impairment:
At 1 April 2023
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Investment
properties
£
Other
investments
£
Total
£
820,334
2
820,336
820,334
2
820,336
820,334
-
820,334
820,334
-
820,334
-
2
2
-
2
2

25

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

a) Investment Properties

The leasehold property known as Frontier Lodge and Frontier Camp Irthlingborough is leased to a third party and has been classified as a fixed asset investment.

Movement on investments

Movement on investments
Group Group Company Company
2024 2023 2024 2023
£ £ £ £
Fair value gains/(losses)
Changes in value of
financial assets held at fair
value through profit or loss -4,443 32,813 - 4,443
 32,813

b) Other investments (Company only)

These relate to shares in subsidiary undertakings as detailed below:

Name
Country
of
incorporation
Action Centres UK Limited
England
Stocks
Raw materials and consumables		 Class and
proportion
of shares
Aggregrate
capital &
reserves as
at
31.03.2024
Profit for
year ended
31.03.2024
£1 Ordinary 100%
(409,227)
95,024
Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
54,263
50,918
-
-

14 Stocks

15 Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
73,025
74,388
57,652
4,016
153,631
234,335
21,418
211,721
11,734
9,535
11,734
9,535
238,390
318,258
90,804
225,272

26

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

16 Cash at bank and in hand

Taking into account the on-going responsibilities of NAYC and Action Centres UK Limited to its staff and user groups, the Board of Directors aim to maintain a reserves fund of £240,000.

This fund is to cope with any sudden or unexpected setback resulting in the cutting of income streams, and to enable NAYC and Action Centres UK Limited to meet with statutory and other obligations.

An overdraft facility for £130,000 has been agreed with Barclays Bank Plc. NAYC and Action Centres UK Limited is committed to repaying these facilities from increased covenant generated by the Whitemoor Lakes Centre.

17 Creditors: amounts falling due within one year

Bank loans and overdrafts
Other loans
Hire purchase creditors
Debt due within one year
Trade creditors
Other creditors
Amounts owed to group undertakings
Taxation and social security
Accruals and deferred income		 Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
31,505
32,851
31,505
32,851
326,569
358,016
326,569
358,016
164,035
61,896
164,035
61,896
522,109
452,763
522,109
452,763
1,675,082
1,534,291
1,137,001
900,518
150,747
117,026
2,519
105,369
-
-
82,484
62,701
362,138
331,894
4,620
4,270
25,846
146,386
25,846
19,760
2,735,922
2,582,360
1,774,579
1,545,381

18 Creditors: amounts falling due after more than one year

a)
Bank loans and overdraft
Other loans
Hire purchase accounts
Debt due after more than one year		 Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
276,868
326,317
276,868
326,317
792,740
1,085,202
792,740
1,085,202
280,177
143,325
280,177
143,325
1,349,785
1,554,844
1,349,785
1,554,844

27

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

b) Analysis of debt due after more than one year

Repayable-
Between one and five years
In five years or more		 Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
1,194,062
1,334,556
1,194,062
1,334,556
155,723
220,288
155,723
220,288
1,349,785
1,554,844
1,349,785
1,554,844

c) Debt repayable in five years or more

Included in creditors are the following loans which are repayable wholly or in part more than five years after the balance sheet date. The repayment terms are as follows:-

Outstanding at the balance sheet date is £150,847 owing to Barclays Bank. The loan carries an interest rate of 3.6% per annum. Repayments are made monthly and the expected completion date is July 2028.

19 Security

Security has been given respect of the following amounts:

Bank loans and overdraft
Other loans
Hire purchase creditors		 Group
2024
£
Group
2023
£
Company
2024
£
Company
2023
£
308,374
359,168
308,374
359,168
566,746
675,238
566,746
675,238
444,212
205,221
444,212
205,221
1,319,332
1,239,627
1,319,332
1,239,627

iii) Hire purchase creditors are secured on the assets to which the agreements relate.

28

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

20 Share capital

Northamptonshire Association of Youth Clubs is a company limited by guarantee and not having a share capital. All members of the association, i.e. all those who are entitled to attend and vote at general meetings, may be required to pay the sum of £1 should the Northamptonshire Association of Youth Clubs be wound up either whilst they are a member or within one year after they cease to be such. These amounts are contingent and would only be called up in the event of liquidation.

21 Analysis of closing funds

a) Unrestricted funds Unrestricted funds Unrestricted funds Restricted funds Restricted funds Restricted funds
Revaluati- Total Capital
General on unrestricted Other projects Total
reserve reserve funds fund fund restricted
£ £ £ £ £ £
Balance at 1 April 2023 3,046,732 46,881 3,093,613 437,312 10,897,581 11,334,893
Net fund movement for
the year (13,474) (13,474) 110,122 9,700 119,822
Balance at 31 March 2024 3,033,258 46,881 3,080,139 547,434 10,907,281 11,454,715

The company’s unrestricted reserve to carry forward is £3,080,139. This figure differs from the group’s unrestricted reserves by £9,000. This is because of the elimination on consolidation of an internal invoice, which had been recorded as income in Action Centres UK Limited and fixed asset additions in NAYC. See note 12(b).

The unrestricted funds balance of £3,080,139 represents net assets as detailed in note 23. As can be seen from the note, the majority of funds have been used to invest in tangible fixed assets.

The restricted funds balance of £11,454,715 represents projects as detailed in note 22.

29

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

b)
The closing restricted capital projects fund relates to:
Frontier centre
Tennis centre
Pioneer centre
Kings Park development fund
Kings Park trampoline fund
Ranch development
Whitemoor Lakes
Capital assets fund
Whitemoor Lakes Kayaks
Kings Park 25 year Anniversary Appeal
Summer Appeal – Benham Arena
Whitemoor Lakes Activity Hub
Pioneer Activity Appeal
c)
The closing restricted other funds relate to:
Minibus and trailer fund
Connexions
Pioneer Bursary
Corby Development
Rebus project
Arm for Sam
Corby Learning Partnership
Friends of Whitemoor Lakes appeal
Winnie Hall Trust grant
YD Christmas Appeal Emerging Leaders & Hebrides Trip
Kings Park Centre mattresses
Roller Skating Benham
Bursary Aid Lighthouse
Christmas Appeal 2016
Action Centres Bursaries
Wellbeing 4 Youth
Vulnerable Homeless
Send NCC
Pacesetters - bursaries for camps
Church worker
WML Activity appeal
Trauma recovery		 2024
£
2023
£
134,249
129,806
1,439,526
1,439,526
2,139,984
2,139,984
1,989,146
1,989,146
446,817
446,817
231,554
231,554
3,547,125
3,541,868
551,154
551,154
793
793
15,038
15,038
44,807
44,807
308,208
308,208
58,880
58,880
10,907,281
10,897,581
2024
£
2023
£
4,858
4,858
5
5
14,261
9,165
130
130
10
10
80
80
97
97
816
816
1,308
1,308
57,415
46,203
64,490
64,490
1,612
1,612
2,500
2,500
1,125
1,125
1,000
1,000
16,666
16,666
500
500
103
103
1,416
1,416
27,500
27,500
36,883
36,883
26,250
26,250

30

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

2024 2023
The closing restricted other funds - continued £ £
Sport England Grant 59,661 59,661
60th Anniversary appeal 50,288 50,288
KP Sports equipment 1,500 1,500
Sch reward datys 6,250 6,250
Diamond Appeal 27,859 27,855
Uganda expedition 10,864 10,864
Northampton town council - training grant 7,124 7,124
Emergency spring appeal 2022 8,753 8,753
KP Spinney 8,222 1,800
Owen Family TR Donation re WML 10,000 5,000
Don PIO act Instructors -Alfred Haines 2,000 2,000
Donations for PIO MUGA - 2023 39,750 6,500
Donations - KPC Piano - A Lock 9,700 7,000
WNC - CFG Briar/sfields Wellbeing Café 4,977 -
Busary - Christmas 2023 450 -
Wide Horizons - Dye Gift - WML 10,000 -
Donations - KPS Muga 10,000 -
Kayaks & Canoes - WML 10,000 -
Happy Days Children's ch donation 133 -
Npton TC £10k - Club set up/bitesize 10,190 -
YD - Youth Summit Income 688 -
547,434 437,312
**22 ** Restricted funds
Frontier capital project
Tennis centre capital project
Pioneer centre capital project
Ranch development
Capital assets fund
Kings Park development fund
Kings Park trampoline fund
Whitemoor Lakes
Whitemoor Lakes Kayaks
Kings Park 25 year Anniversary Appeal
Summer Appeal – Benham Arena
Whitemoor Lakes Activity Hub
Pioneer Activity Appeal
Other funds		 Opening
Balance
£
Reclassif-
cations
£
129,804
-
1,439,526
-
2,127,182
-
231,554
-
551,154
-
2,004,145
-
446,817
-
3,554,674
-
793
-
15,038
-
44,807
-
308,408
-
58,880
-
422,111
54,125		 Incom-
ing
£
4,443
-
-
-
-
-
-
25,225
-
-
-
-
-
117,445		 Outgoing
£
-
-
-
-
-
-
-
(19,966)
-
-
-
-
-
(61,450)		 Closing
Balance
£
134,247
1,439,526
2,127,182
231,554
551,154
2,004,145
446,817
3,559,933
793
15,038
44,807
308,408
58,880
532,231
11,334,893
54,125		 147,113 (81,416) 11,454,715

31

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

23 Analysis of net assets between funds

As at 31 March 2024:

Tangible Net current Creditors
fixed assets/ more than
assets Investments (liabilities) 1 year
Total
£ £ £ £ £
Restricted funds
Frontier capital project - - 134,249 - 134,249
Tennis 1,442,476 - (2,950) - 1,439,526
Pioneer centre capital project 2,491,545 - (351,560) - 2,139,985
Ranch development - - 231,554 - 231,554
Capital assets fund - - 551,154 - 551,154
Kings Park development fund 1,949,733 - 39,413 - 1,989,146
Kings Park trampoline fund 428,019 - 18,798 - 446,817
Whitemoor Lakes capital project 4,776,244 - (778,235) (450,883) 3,547,126
Whitemoor Lakes Kayaks - - 793 - 793
Kings Park 25 year Anniversary
Appeal - 15,038 - 15,038
Summer Appeal – Benham
Arena - - 44,807 - 44,807
Whitemoor Lakes Activity Hub 501,286 - (193,078) - 308,208
Pioneer Activity Appeal - - 58,880 - 58,880
Other funds - - 547,432 - 547,432
Unrestricted funds 11,589,303
6,345,479		 -
0		 316,295
(2,366,438)		 (450,883)
(898,902)		 11,454,715
3,080,139
Per group
Unrestricted funds eliminated
on consolidation		 17,934,782
9,000		 -
2		 (2,050,143)
409,225		 (1,349,785)
-		 14,534,854
418,227
Per company 17,943,782 2 (1,640,918) (1,349,785) 14,953,081

32

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

23 Continued

As at 31 March 2023:

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||||||| |---|---|---|---|---|---| |Tangible|Net current|Creditors| |fixed|assets/|more than| |assets|Investments|(liabilities)|1 year|Total| |£|£|£|£|£| |Restricted funds| |-|-| |Frontier capital project|(4,443)|134,249|129,806| |Tennis|1,442,476|-|(2,950)|-|1,439,526| |-|-| |Pioneer centre capital project|2,519,781|(379,796)|2,139,985| |-|-|-| |Ranch development|231,554|231,554| |-|-| |Capital assets fund|551,154|551,154| |-|-| |Kings Park development fund|1,942,281|46,865|1,989,146| |-|-| |Kings Park trampoline fund|428,243|18,574|446,817| |-| |Whitemoor Lakes capital project|4,779,526|(700,957)|(536,702)|3,541,867| |Whitemoor Lakes Kayaks|-|-|793|-|793| |Kings Park 25 year Anniversary| |Appeal|-|-|15,038|-|15,038| |-|-|-| |Summer Appeal – Benham Arena|44,807|44,807| |-|-| |Whitemoor Lakes Activity Hub|505,304|(197,096)|308,208| |-|-|-| |Pioneer Activity Appeal|58,880|58,880| |Other funds|-|-|437,312|-|437,312| |12,168,765|(4,443)|(292,727)|(536,702)|11,334,893| |Unrestricted funds|5,486,030|(1,374,275)|(1,018,142)|3,093,613| |Per group|17,654,795|(4,443)|(1,667,002)|(1,554,844)|14,428,506| |Unrestricted funds eliminated| |on consolidation|9,000|2|504,249|-|513,251| |Per company|17,663,795|(4,441)|(1,162,753)|(1,554,844)|14,941,757|

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33

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

24 Pension costs

The group contributes to the personal pension schemes of selected employees and to a group growth plan for other selected employees. The assets of the schemes are held separately from those of the group in independently administered funds. The pension cost charge in the profit and loss account represents contributions payable by the group to the funds and amounted to:

Group Group Company Company
2024 2023 2024 2023
£ £ £ £
Pension contributions 72,351 56,946 5,534 -479
Amounts outstanding to the
funds as at 31 March 2024 14,947 12,573 1,156 916

25 Financial commitments

At 31 March 2024 the group had future minimum lease payments under non-cancellable operating leases as detailed below:

Operating leases which expire:

Not later than one year
Later than one year, not later than five years		 2024
£
2023
£
3,612
8,228
6,893
9,191
10,505
17,419

26 Related party transactions

During the year the company engaged in transactions with Action Centres UK Limited (ACUK) which is a related party by virtue of ACUK being a subsidiary of NAYC.

At the balance sheet date NAYC owed ACUK £82,484 (2023: £62,701), and these balances have been disclosed within amounts owing to group undertakings. Trade debtor and trade creditor balances also existed with ACUK at the balance sheet date amounting to £51,870 (2023: £3,135) and £1,123,259 (2023: £891,014) respectively.

Wide Horizons is a related parties due to Rev D Shearer being a director of NAYC and a trustee of Wide Horizons. During the year Wide Horizons donated £10,000 (2023: £nil).

34

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

27 Financial Instruments

The group had the following financial instruments:

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|||||| |---|---|---|---|---| |Group|Group|Company|Company| |2024|2023|2024|2023| |£|£|£|£| |Financial assets at fair value through profit or loss account| |Fixed asset investments|-|-|2|2| |Financial assets that are debt instruments| |measured at amortised cost| |Trade debtors|73,025|74,388|57,652|4,016| |Other debtors|165,365|243,870|33,152|221,256| |238,390|318,258|90,804|225,272| |Financial liabilities measured at amortised cost| |Bank loans and overdrafts|308,373|359,168|308,373|359,168| |Other loans|1,119,309|1,443,218|1,119,309|1,443,218| |Finance leases|444,212|205,221|444,212|205,221| |Trade creditors|1,675,082|1,534,291|1,137,001|900,518| |Other creditors|538,731|595,306|115,469|192,100| |4,085,707|4,137,204|3,124,364|3,100,225|

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35

Northamptonshire Association of Youth Clubs

Notes to the Financial Statements

Year Ended 31 March 2024

28 Prior period adjustment

Reconciliation of changes in equity

Notes
1 April 2022
£
Adjustments to prior year
(i)
Correction of classification of investment
-
Equity as previously reported
14,941,757
Equity as adjusted
14,941,757
Analysis of the effect upon equity
Profit and loss reserves
-
Reconciliation of changes in profit for the previous financial period
Total adjustments
Profit as previous reported
Profit as adjusted
Notes to reconciliation
31 March 2023
£
-
14,941,757
14,941,757
-
2023
£
-
222,659
222,659

(i) Correction of presentation of investment property

In the previous year, the investment property was recorded as a negative asset within the balance sheet. As there cannot be an investment property that is a creditor, it was reclassified to other creditors. This adjustment does not affect profit.

36

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