REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st July 2023 |
for |
PROJECT CHALLENGE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st July 2023 |
for |
PROJECT CHALLENGE |
PROJECT CHALLENGE |
Contents of the Financial Statements |
for the Year Ended 31st July 2023 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Cash Flow Statement | 10 |
Notes to the Cash Flow Statement | 11 |
Notes to the Financial Statements | 12 | to | 19 |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Report of the Trustees |
for the Year Ended 31st July 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Charity's objectives are: |
To advance the education of disaffected young people in West Yorkshire between the ages of 16 and 19, who are unemployed, or lacking in qualifications, or at risk of persistent anti-social behaviour, or offending, by the provision of programmes of outdoor education other training and challenging activities to improve their personal and social skills. |
Public benefit |
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The project receives core funding for all the programmes from Calderdale College under a Study Programme subcontract. This ran from August 2022 to July 2023. |
The project was successful in obtaining funding from Calderdale College to support young people with Higher Needs Additional Learning (EHCPs). The funding has enabled Project Challenge to continue providing key services and develop additional services for those most vulnerable young people. |
The company employed from its funding, the following full and part time employees: |
- | Business Manager | Full time |
- | Finance / Admin | Full time |
- | Functional Skills Tutor - Maths | Part time 0.6 - Term time only |
- | Functional Skills Tutor - English | Part time 0.6 - Term time only |
- | N'Gage Vocational Tutor | Full time |
- | ACTIV8 Vocational Tutor | Full time |
- | ACTIV8 Student Liaison | Part time - Term time only |
- | ACTIV8 Youth/Support Workers | Part time - Term time only |
- | N'Gage Student Liaison | Part time - Term time only |
- | N'Gage School Student Liaison | Part time - Term time only |
- | N'Gage Youth/Support Worker | Full time |
- | Cafe Supervisor | Part time 0.8 |
In addition the company commissioned one freelance worker to oversee Quality Assurance and external verification. In 2022/23 this was extended due to additional educational demand for under 16's excluded from schools and in need of bespoke 1:1 tuition. |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Report of the Trustees |
for the Year Ended 31st July 2023 |
FINANCIAL REVIEW |
Financial position |
The charity has received income of £609,977 (2022: £509,392) and incurred expenditure of £523,145 (2022: £415,700) in the year, leaving a surplus for the year of £86,832 (2022: £93,692). |
The changes made in 2022/23 were significant and had an impact. They were as follows; |
- | Additional Finance/Admin post created full time (previous support staff) |
- | A more substantial contract for young people in receipt of Education Health Care Plans - (EHCP) was secured - this increased from £140,000 to £183,000 |
Going forward into 2023/24 the following changes have been made; |
- | Two Senior Support staff employed to take up deputised duties of Vocational Tutors as they increase managerial responsibilities |
- | Additional two Support Staff employed due to increase in learners with EHCPS, on a term time only basis |
- | Additional Support staff member to support with Under 16 programmes in partnership with Trinity School |
Principal funding sources |
Calderdale College Core Funding |
Funding bands again remained static and this continues to prove to be an issue for Project Challenge. With an unpredictable client group it is difficult to manage both success factors and whether they will remain on full time programmes once enrolled to draw down maximum funding rates. The College funding was exhausted by December 2022 with an agreement of further enrolments to be determined on merit by individual case. The programme had a 95% progression rate and a 97% success rate. |
Project Challenge remains the sole provider of roll on/off Study Programme in Calderdale. The client group are the most vulnerable young people furthest away from the employment market. This year has continued to see an increase in the number of vulnerable learners from neighbouring authorities and also from Calderdale, who were previously educated outside of the Borough, as 'alternative' post 16 educational provision is dwindling in their areas. The Local Authority has pledged to retain within the borough as many of their own vulnerable young people as part of future cost cutting plans. |
The Project was successful in securing £51,000 from the Community Foundation to run a Healthy Holidays programme throughout the year for each of the school holidays. This included provision at Orange Box for 13-19 year olds, participating in games, healthy eating and craft activities. One element was in partnership with the Local Authority's Play Services and included employing Project Challenge learners to work in the café producing healthy meals for young people across the Borough, in receipt of Free School Meals. |
Orange Box |
Being housed at Orange Box has enabled further partnerships regarding opportunities for learners with the Healthy Holidays funding. |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Report of the Trustees |
for the Year Ended 31st July 2023 |
FINANCIAL REVIEW |
Reserves policy |
The charity aims to maintain a sufficient level of reserves to ensure that uninterrupted services may continue in the event of short term funding problems, funding being withdrawn, redundancy payments and settlement of creditors. |
The charity has a policy to retain reserves equivalent to 6 months running costs, which is £261,572 based on the 22/23 financial year. The rationale being that in the event of delays or cuts to funding the charity can continue to provide its services. |
The charity has established a designated fund as provision for its redundancy liabilities, as at 31 July 2023 this was calculated as £46,537. |
The trustees set out below their calculation of 'free' reserves based on these calculations, after taking account of reserves held as fixed assets (£5,863) and lease commitments (£27,193), there are surplus 'free' reserves at 31 July 2023 of £41,946. |
The trustees have taken a prudent approach in setting their reserves policy for the year and will continue to monitor the policy into the next financial year in order to move towards a surplus 'free' reserves position. With the intention of establishing asset renewal designated funds for IT and opportunity and innovation funds for the delivery and development of activities. |
31.7.23 |
£ |
Total Funds at 31/7/23 | 383,109 |
Less : Designated Redundancy Fund | (46,537 | ) |
Total Unrestricted General Funds | 336,572 |
Less : Fixed Assets (Note 11) | (5,863 | ) |
Less : Lease Commitments (Note 14) | (27,193 | ) |
Less : 6 Months Operating Costs | (261,572 | ) |
'Free' Reserves at 31/7/23 | 41,944 |
FUTURE PLANS |
Project Challenge continues to build a reputation for being a 'specialist' provider for young people with 'high needs' and for a cohort of statutory school age (under 16's) to prevent becoming permanently excluded. The under 16 alternative provision in Calderdale seriously lacks the capacity to accommodate some particularly challenging young people both with and without an Education Health Care Plan. Post 16 in receipt of an EHCP will be capped at 10 from within Calderdale College. |
2022/23 also led to an increase in referrals from schools looking for alternative provision. There were 27 on a mixture of full, part time and 1-2-1 courses. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a limited company, limited by guarantee, and as such is controlled by its Memorandum and Articles of Association. |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Report of the Trustees |
for the Year Ended 31st July 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisation |
The Articles of Association state that, at every Annual Meeting, one third of the Trustees who are subject to retirement shall retire. Following the Companies Act 2006 the Trustees who retire by rotations are those serving the longest. For those who were appointed on the same day those who retire shall (unless otherwise agreed amongst themselves be determined by majority votes, the Chair will have the casting vote. |
The Trustees meet quarterly with the Business Manager informing of major changes/issues by a newsbites email. |
Trustees have areas of responsibility and can meet to deal with emerging issues for their area, making decisions that do not need a vote. |
Induction and training of new trustees |
All Trustees receive induction on their appointment to the Board and receive appropriate training during their term of office. They are all in receipt of an enhanced DBS check. |
Related parties |
The Secretary is also the Business Manager of the Project. None of the other Trustees have a beneficial interest in the Company. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Report of the Trustees |
for the Year Ended 31st July 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
BK Plus Limited |
52 St Johns Lane |
Halifax |
West Yorkshire |
HX1 2BW |
Bankers |
Yorkshire Bank PLC |
7 Waterhouse Street |
Halifax |
West Yorkshire |
HX1 1XZ |
Solicitors |
Wilkinson Woodward |
11 Fountain Street |
Halifax |
HX1 1LU |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Project Challenge for the purposes of company law) are responsible for preparing the Report of the Trustees 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 those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Project Challenge (Registered number: 03264709) |
Independent examiner's report to the trustees of Project Challenge ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Victoria J Atkinson FCA |
The Institute of Chartered Accountants in England and Wales |
BK Plus Limited |
52 St Johns Lane |
Halifax |
West Yorkshire |
HX1 2BW |
12th March 2024 |
PROJECT CHALLENGE |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31st July 2023 |
31/7/23 | 31/7/22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 5 |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 296,277 |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Balance Sheet |
31st July 2023 |
31/7/23 | 31/7/22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds: |
General fund | 336,572 | 257,163 |
Designated Fund - Redundancy | 46,537 | 39,114 |
296,277 |
TOTAL FUNDS | 296,277 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
PROJECT CHALLENGE (REGISTERED NUMBER: 03264709) |
Balance Sheet - continued |
31st July 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
PROJECT CHALLENGE |
Cash Flow Statement |
for the Year Ended 31st July 2023 |
31/7/23 | 31/7/22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 40,169 | 95,670 |
Net cash provided by operating activities | 40,169 | 95,670 |
Cash flows from investing activities |
Purchase of tangible fixed assets | - | (12,424 | ) |
Interest received | 6,111 | 61 |
Net cash provided by/(used in) investing activities | 6,111 | (12,363 | ) |
Change in cash and cash equivalents in the reporting period |
46,280 |
83,307 |
Cash and cash equivalents at the beginning of the reporting period |
248,157 |
164,850 |
Cash and cash equivalents at the end of the reporting period |
294,437 |
248,157 |
PROJECT CHALLENGE |
Notes to the Cash Flow Statement |
for the Year Ended 31st July 2023 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
31/7/23 | 31/7/22 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
86,832 |
93,692 |
Adjustments for: |
Depreciation charges | 6,757 | 6,868 |
Interest received | (6,111 | ) | (61 | ) |
Increase in debtors | (43,659 | ) | (7,343 | ) |
(Decrease)/increase in creditors | (3,650 | ) | 2,514 |
Net cash provided by operations | 40,169 | 95,670 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/8/22 | Cash flow | At 31/7/23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 248,157 | 46,280 | 294,437 |
248,157 | 46,280 | 294,437 |
Total | 248,157 | 46,280 | 294,437 |
PROJECT CHALLENGE |
Notes to the Financial Statements |
for the Year Ended 31st July 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. |
Income received in advance for the provision of specified services is deferred until the criteria for income recognition are met. |
Interest receivable |
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. |
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of any restricted fund is included in the notes to the financial statements. |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
1. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
2. | DONATIONS AND LEGACIES |
31/7/23 | 31/7/22 |
£ | £ |
Grants |
Grants received, included in the above, are as follows: |
31/7/23 | 31/7/22 |
£ | £ |
Community Foundation for Calderdale | 56,976 | 88,913 |
Co-Operative | - | 1,123 |
Kickstart | - | 20,134 |
Leeds Community Foundation | 1,000 | - |
57,976 | 110,170 |
3. | INVESTMENT INCOME |
31/7/23 | 31/7/22 |
£ | £ |
Deposit account interest |
4. | INCOME FROM CHARITABLE ACTIVITIES |
31/7/23 | 31/7/22 |
Activity | £ | £ |
Service income | Charitable | 545,890 | 393,235 |
HMRC Furlough Claims | Charitable | - | 5,926 |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Charitable | 521,039 | 2,106 | 523,145 |
6. | SUPPORT COSTS |
Governance |
costs |
£ |
Charitable | 2,106 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31/7/23 | 31/7/22 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022. |
9. | STAFF COSTS |
31/7/23 | 31/7/22 |
£ | £ |
Wages and salaries |
Other pension costs |
374,538 | 256,716 |
The average monthly number of employees during the year was as follows: |
31/7/23 | 31/7/22 |
Direct charitable |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
9. | STAFF COSTS - continued |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
31/7/23 | 31/7/22 |
£70,001 - £80,000 |
The senior management is Lorna Butterick, she has her pay set by the board of trustees and this is reviewed annually. The aggregate total remuneration and redundancy payments, including pension contributions, for the senior management was £73,191 (2022: £50,332). |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 202,585 | - |
TOTAL FUNDS CARRIED FORWARD | 296,277 | - | 296,277 |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
11. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st August 2022 and 31st July 2023 |
DEPRECIATION |
At 1st August 2022 |
Charge for year |
At 31st July 2023 |
NET BOOK VALUE |
At 31st July 2023 |
At 31st July 2022 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/23 | 31/7/22 |
£ | £ |
Prepayments and accrued income |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/7/23 | 31/7/22 |
£ | £ |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
14. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31/7/23 | 31/7/22 |
£ | £ |
Within one year |
Between one and five years |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
15. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31/7/23 | 31/7/22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 5,863 | - | 5,863 | 12,622 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
383,109 | - | 383,109 | 296,277 |
16. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/8/22 | in funds | funds | 31/7/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 257,163 | 86,832 | (7,423 | ) | 336,572 |
Designated Fund - Redundancy | 39,114 | - | 7,423 | 46,537 |
86,832 |
TOTAL FUNDS | 86,832 | 383,109 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 609,977 | (523,145 | ) | 86,832 |
TOTAL FUNDS | ( |
) | 86,832 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1/8/21 | in funds | funds | 31/7/22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 177,585 | 93,692 | (14,114 | ) | 257,163 |
Designated Fund - Redundancy | 25,000 | - | 14,114 | 39,114 |
202,585 | 93,692 | - | 296,277 |
TOTAL FUNDS | 202,585 | 93,692 | - | 296,277 |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
16. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 509,392 | (415,700 | ) | 93,692 |
TOTAL FUNDS | 509,392 | (415,700 | ) | 93,692 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/8/21 | in funds | funds | 31/7/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 177,585 | 180,524 | (21,537 | ) | 336,572 |
Designated Fund - Redundancy | 25,000 | - | 21,537 | 46,537 |
202,585 | 180,524 | - | 383,109 |
TOTAL FUNDS | 202,585 | 180,524 | - | 383,109 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,119,369 | (938,845 | ) | 180,524 |
TOTAL FUNDS | 1,119,369 | (938,845 | ) | 180,524 |
Transfers between funds |
The trustees have transferred £25,000 from general funds to a designated fund, relating to the calculation of staff redundancy cost liability at the year end. |
PROJECT CHALLENGE |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2023 |
17. | RELATED PARTY DISCLOSURES |
Plus Public Affairs Limited is owned/managed by K J Butterick, the husband of L Butterick, who is a member of the senior management team. |
Amounts were paid during the year to Plus Public Affairs Limited of £24,881 (2022: £21,878), in relation to services for Education and Support workers. There was no balance outstanding at the year end (2022: £Nil). |
18. | ULTIMATE CONTROLLING PARTY |
The charity is under the control of the board of trustees. |