REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Trustees' Report and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Reference and Administrative Details | 1 |
Trustees' Report | 2 | to | 7 |
Independent Examiner's Report | 8 |
Statement of Financial Activities | 9 |
Statement of Financial Position | 10 | to | 11 |
Statement of Cash Flows | 12 |
Notes to the Financial Statements | 13 | to | 23 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Reference and Administrative Details |
for the Year Ended 30 June 2024 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Ascendis |
Chartered Certified Accountants & Business Advisor |
Unit 3 Building 2 |
The Colony Wilmslow |
Altrincham Road |
Wilmslow |
SK9 4LY |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
The Trustees (who are also the Directors) are pleased to present their annual Trustees Report together with the financial statements for the year ending 30 June 2024 which are also prepared to meet the requirements for a Directors report and accounts for Companies Act purposes. |
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 the Republic of Ireland (FRS 102) effective 1st June 2015. |
Reference and Administrative Details |
Reference and administrative details are shown in the schedule of members of the Board and professional advisors shown on page 1 of the financial statements. |
The Trustees |
The Trustees who served the charity during the twelve month period from 1st July 2023 to 30th June 2024 were as follows, |
Mr John Stevenson MBE |
Ms Laura Swindells |
Mr Giles Beswick |
Mr David Ancell |
Mr Phill Brown MBE |
Mr David Cheetham |
Structure, Governance and Management |
Stockport County Community Trust is a registered charity (No 1194114) and Company Limited by Guarantee (No 13241679) and is governed by its Articles of Association which were adopted on 3rd March 2021. The charity changed its name in March 2023 from The Hatters Project Limited to Stockport County Community Trust. |
The Articles of Association include the selection and appointment of new Trustees. |
The day-to-day operations of the charity are managed by the Chief Executive Officer who reports directly to the Board. The Board has instigated systems and controls in relations to such matters as finance, contracts and employment and considers these to be appropriate safeguards in relation to the day-to-day operations of the Trust. |
The Trustees continue to review the risks associated with running the Trust. |
Objectives and Activities |
Stockport County Community Trust's principal object is to arrange, promote and deliver activities for the benefit of the public in particular in Stockport and its surrounding areas, including community participation in healthy recreation for children and other citizens who have needs due to their disablement, poverty or other social and economic circumstances - with the aim of improving their overall health, skills and conditions of life. |
Financial Review |
In the year ended June 2024, County Community Trust generated an income of £783,414 and incurred expenditure of £600, 507. This resulted in an operating surplus of £182,907. |
The Balance Sheet for the Trust on 30 June 2024 showed a total of Trust funds of £291,024. |
The Board is pleased with the performance of Stockport County Community Trust in this 12 month period and the commitment, professionalism and enthusiasm of the staff team who have all contributed to this performance. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
The Board is satisfied that the Trust is now well positioned to build upon the previous 12 months operation and is confident that the Trust will continue to be self-financing. Notwithstanding this expectation, the Trust continues to receive the support of Stockport County Football Club. |
Reserves Policy |
The Board has agreed to work towards a reserves policy of three months running costs if all funding ceased suddenly. This equates to approximately £200,000 based on projected figures for 2024/25 budgeted expenditure. The Trust currently has unrestricted cash reserves of £208,642. The Trustees will continue to monitor the reserves position with the aspiration of moving towards a reserve policy of six months running costs. |
Public Benefit Statement |
Stockport County Community Trust gives careful consideration to the Charity Commission's general guidance on public benefit in setting its own aims, objectives and planned activities for the coming year. This is detailed in the performance and achievements section set out below. |
Achievements and performance |
The period from the 1st July 2023 - 30 June 2024 saw a successful period for Stockport County Community Trust with an increase in programming, the development of the staff team (including the senior team) and the continued improvement in all governance practices. |
The Trust now has a strong and stable senior management team that is led by the CEO, Alison Warwood and supported by the Operations Manager, Dave Wardle and the three department managers, Eddie Owen (Health and Wellbeing), Dan Landstrom (Inclusion) and Bob MacCallum (Education). The team has also added media and marketing expertise through the employment of Jo Lake as a Media and Content Manager. The senior team have worked hard to ensure that there is a strong delivery team now in place that delivers all Trust programmes with professionalism and enthusiasm, ensuring that our participants are at the heart of all the Trust delivers. |
The Trust continues to deliver all its programmes in line with its three year strategy, that was launched in July 2023, especially its key aim of 'Inspiring, educating and supporting our communities' and its four key strategic areas of focus, |
1. Increasing levels of physical activity leading to better physical health - Helping the local community to use physical activity to start well, live well and age well. |
2. Improving wellbeing in our communities leading to better mental health - Developing confident, empowered, engaged and resilient communities. |
3. Increasing educational attainment and skills - Improving academic and vocational attainment and ambition leading to better employment, economic prospects and life chances. |
4. Building stronger communities - Celebrating and embedding diversity and inclusion across all areas of the club, enabling people to make better life choices and live in safer communities. |
The charity has worked hard over the last 12 months to improve all its monitoring and evaluation processes to ensure that the charity delivers against each of its four focus areas and to ensure it continues to deliver programmes that meet the needs of the community in line with best practice and good value for money. |
To help the Trust achieve this aim, the charity engaged the services of an external evaluation company, Substance who are a market leader in evaluating sport, health and youth engagement programmes. The initial work that Substance has carried out highlight that Stockport County generated £1.5 million of social value over the last 12 months (against an expenditure of around £500K on programming). This baseline assessment shows that for every £1 invested into Stockport County Community Trust, the charity is generating £3 worth of benefit for the community of Stockport. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
The charity continues to work closely with Stockport County Football Club and its senior management team to ensure the charity benefits from the use of the club brand and facilities to help benefit the local community. This includes the opening up of the club stadium, Edgeley Park to be more accessible to the community especially as part of the Health and Wellbeing programmes. |
This period also coincided with Stockport County Football Club successful campaign in League Two which culminated in the club winning the league and promotion into League One. The excitement and passion that this creates in Stockport helps the Trust engage with more local residents who choose to work with the club, though the Community Trust when they may be unlikely to engage with other statutory and mainstream organisations. |
The success of the club and the Community Trust has enabled the charity to increase its programmes and delivery across its three departments, inclusion, education and health and wellbeing. |
Key department achievements over the last 12 months have included, |
Inclusion and Participation |
The Inclusion and Participation department has seen huge growth from 1st July 2023 - 30th June 2024. Particular developments have included, |
- Developing its youth engagement sessions which provides free after school sessions for young people living in deprived communities across Stockport. During the 23/24 period new sessions were delivered in Brinnington, Heaton Norris and Heaton Moor. |
- The Trust worked closely with Stockport Council to deliver its Holiday Activities Fund (HAF).The Trust now delivers two programmes across the summer, Easter and Christmas adding a new programme at St Josephs in Reddish. In addition to the HAF funded courses, the team delivered a range of additional activities during the February, Whitsun, and October half terms aimed at supporting vulnerable families and children in receipt of free school meals. |
- As part of our holiday provision, we delivered our commercial County Camps in February, Easter and May school holidays providing football sessions for 6-12 year olds. In addition to the HAF programme as part of the holiday programme we delivered County in the Park during May Half Term. The Trust delivered affordable (FREE) and accessible football in local parks in deprived areas of Stockport. We also utilised access to the Edgeley Park pitch at the end of the season to delivered sessions to hundreds of young people. |
- During the past 12 months the Trust also increased its delivery working with marginalised and vulnerable adults. This included the development of our new County Pride FC, supporting the local LGBTQ+ community, a weekly football session supporting The Wellspring (a local charity which works with the homeless and those that support those living in vulnerable accommodation) and the armed forces community. This includes the delivery of a weekly football session and the NAAFI break, a weekly social group which acts as a drop in for local veterans. |
- The Trust secured funding from the Premier League Charitable Fund Premier League Fans Fund to deliver County Collective. The project aims to work with under represented groups across Stockport and help diversify the clubs fan base. As part of this funding, we delivered weekly football sessions to local asylum seekers and provided free girls only football camps as part of our holiday provision. |
- Stockport College continued to work with the Trust through the Get Active Programme which engages with a number of inactive students who attend the college to encourage them to be more active and to participate in more sporting activities the college delivers. The program helped over 100 students over the course of the academic year. |
- After receiving funding via the EFL Trust we have implemented and established County Wildcats at the Stockport Powerleague. Wildcats is a national FA programme designed to give girls aged 5-11 years old a high quality and fun introduction to football. |
Education |
The Education department uses football and PE to help raise aspirations and educational attainment of young people and to make PE more accessible to schools to help improve the health of young people. |
" One of the main successes of our 23/24 period, was the development and introduction of our Together Schools Programme which offers free education and PE sessions to all primary schools and secondary schools across Stockport. Through a donation provided by club partner, Together, the Trust was able to employ four new full time members of staff. In total, the team worked with around 70 Stockport schools and around 2,200 pupils in the borough. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
" The Trust also continued to deliver the Together assembly programme, which offers schools an assembly, featuring the club mascot, Vernon Bear focusing on the history and heritage of the club and Stockport as a town. As part of the programme, the club also gave away 2000 tickets to the participants to enable them to attend a Stockport County home game. |
" To help build on our education programmes, the education department launched a brand new literacy programme where pupils across Stockport secondary schools were encouraged to write a short story based on the theme, 'The scarf my father wore' which is a well-known Stockport County song. Winners were invited to attend a match day at Stockport County and their stories were turned into a book which was made available for sale through the club shop. |
" The Trust developed a collaboration with the Stockport based arts group, GRIT Studios. Pupils were invited to a series of writing and art workshops at Edgeley Park which culminated in the production of a large scale mural at a gable end of a building of Castle Street in Edgeley. The mural has already become an iconic landmark in recent times and was often used as a backdrop photo to the team celebrating promotion on the trophy parade through Stockport after being crowned League Two champions. |
" The Trust also continued to deliver high quality National Curriculum based PE lessons to 10 partner schools based in and around Stockport, working with around 2400 pupils across Stockport and its surrounding districts. |
" The Trust continued to work with the Premier League Charitable Fund to develop the Premier League Primary Stars programme. This included delivering a six week programme at eight primary schools providing teachers with the opportunity to develop their confidence and knowledge in delivering high quality PE lessons through an empowering environment. |
" Finally, the education team also delivered a number of school football tournaments, many of them involving schools winning the opportunity to represent Stockport County at EFL and Premier League regional and national tournaments. Around 400 pupils took part in these types of tournaments including pupils from Ladybarn School who got to play a final on the pitch at Brentford FC. |
Health and Wellbeing |
During the 2023-24 financial year, the Trust's Health and Wellbeing programme has continued to make a real impact by reaching out to people in the local community making a positive difference to their health and wellbeing. The projects and activities delivered as part of this programme include: |
" County's Social Well-being Group which provides a weekly drop-in on Wednesday morning at Edgeley Park and continues to grow from strength to strength with 50 adults attending weekly. The group supports vulnerable people living with long-term health conditions, who are often also experiencing loneliness and living in social isolation. The attendees enjoy refreshments games and quizzes, and also take part in stress-relieving activities such as gentle seated yoga, and art therapy delivered by trained qualified professional therapists. The group also enjoy trips out together including matinee performances at the Stockport Plaza and visits to local parks and historic buildings. |
" The Trust's walking football programme continued to grow over the period with over 150 people registered as participants. As well as an opportunity to improve health through physical activity, the sessions also provide an opportunity for people to socialise. The Trust added a new venue in late 2023 doubling its capacity to deliver Walking Football. Teams also got the chance to play represent Stockport County at regional events including hosting a walking Festival on the pitch at Edgeley Park. |
" In January 2024, the Trust worked with club partner, Vitality to launch Kick Start with County, a new health programme which worked with 30 participants to help them build up their fitness, culminating in the group taking part in a local Park Run. |
" The weekly adult and junior pan disability football sessions continued to grow with many new players joining the programme. We have moved the sessions so they are both delivered on the same evening and they have been rebranded as County Comets and County Stars after we received a small amount of funding from Cheshire FA. The teams now take part in the monthly East Cheshire Ability Counts league. |
" The weekly mental health football coaching sessions for patients from Pennine Care NHS Trust continued to be delivered moving venue to the Pro Football Arena and increasing the number of participants who took part. |
In addition to the work undertaken by individual departments, the Trust as a whole supported a number of club initiatives. This included organising Flag Bearers for match days, which provides opportunities for junior teams to welcome the teams onto the pitch at Edgeley Park as well as match day charity bucket collections which raised nearly £20K for local charities. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
The Trust also supported Stockport County with its Christmas campaign which provided Christmas hampers to vulnerable families living across Stockport, whilst also organising the visit of club first-team players, along with club mascot, Vernon Bear and Club President Steve Bellis, to the Treehouse paediatric unit at Stepping Hill Hospital and organising a club community lunch for almost 200 local residents. |
Plans for future periods |
The plan for the future is that Stockport County Community Trust will remain financially self-sufficient and not rely on financial support from Stockport County FC. However, It is still important for the Trust and Stockport County FC to be closely aligned and to work closely together |
Stockport County Community Trust plans to increase the programmes it delivers over the next 12 months and to grow its delivery team to help increase the positive impact the work of the Trust within its local community. |
Small company provisions |
This report has been produced in accordance with the small companies' regime under the Companies Act 2006. |
The Trustees have pleasure in presenting their report and financial statement for the charity for the twelve months ending 30 June 2024. |
Approved by the Board on 24 March 2025 and signed on its behalf by |
Mr John Stevenson MBE |
Chair of Trustees |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Stockport County Community Trust "formerly The Hatters Project Limited" for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
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. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Trustees' Report |
for the Year Ended 30 June 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Independent examiner's report to the trustees of Stockport County Community Trust "formerly The Hatters Project Limited" ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. |
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 Association of Chartered Certified Accountants, 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. |
Richard Fleming FCCA |
Ascendis |
Chartered Certified Accountants & Business Advisor |
Unit 3 Building 2 |
The Colony Wilmslow |
Altrincham Road |
Wilmslow |
SK9 4LY |
24 March 2025 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Charitable activities |
Other trading activities | 4 |
Investment income | 5 |
Total |
EXPENDITURE ON |
Resources expended | 6 |
Charitable activities | 7 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 108,117 |
CONTINUING OPERATIONS |
Total unrestricted funds carried forward : £233,183 of which £47,425 are designated funds for future planned projects. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Statement of Financial Position |
30 June 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
CURRENT ASSETS |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 108,117 |
Restricted funds | - |
TOTAL FUNDS | 108,117 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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. |
Stockport County Community Trust |
"formerly The Hatters Project Limited" (Registered number: 13241679) |
Statement of Financial Position - continued |
30 June 2024 |
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 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Statement of Cash Flows |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 18 | 161,287 | 93,954 |
Net cash provided by operating activities | 161,287 | 93,954 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (3,215 | ) | (1,026 | ) |
Net cash used in investing activities | (3,215 | ) | (1,026 | ) |
Cash flows from financing activities |
Bank Interest received | - | 3 |
Net cash provided by financing activities | - | 3 |
Change in cash and cash equivalents in the reporting period |
158,072 |
92,931 |
Cash and cash equivalents at the beginning of the reporting period |
108,411 |
15,480 |
Cash and cash equivalents at the end of the reporting period |
266,483 |
108,411 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | GENERAL INFORMATION |
Stockport County Community Trust is a private company limited by guarantee incorporate in England & Wales, registered number 13241679 The registered office and principal place of business address is Edgeley Park, Hardcastle Road, Edgeley, Stockport, SK3 9DD. |
2. | 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. |
The financial statements are prepared in pound sterling, which is the functional currency of the entity. |
Amounts in these financial statements are rounded to the nearest pound sterling. |
INCOME RECOGNITION POLICIES |
Items of income are recognised and included in the account when all of the following criteria are met: |
- the Charity has entitlement to the funds; |
- any performance conditions attached to the item(s) of income have met or are fully within the control of the Charity; |
-there is sufficient certainty that receipt of the income is considered probable and; |
-the amount can be measured reliably. |
DONATIONS AND LEGACIES |
Donations are recognised when the Charity has been notified in writing of both the amount and the settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period. |
GRANTS RECEIVABLE |
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. |
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 | - |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
TANGIBLE FIXED ASSETS |
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.Where there is an overspend on restricted funds then unrestricted funds may be used as a reserve. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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. |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
SIGNIFICANT JUDGEMENTS |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
- Determination of whether there are indicators of impairment of Contact's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance or charitable use of the asset. |
- Determination of whether leases entered into by Contact as lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. |
KEY SOURCES OF ESTIMATION UNCERTAINTY |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: |
- Determination of recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the trustees the debt is not fully recoverable. |
- Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. |
FINANCIAL INSTRUMENTS |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
DEBTORS |
Trade debtors are recognised at the settlement amount due after any trade discount offered. Prepayments and other debtors are valued at amortised cost. |
CASH AND CASH EQUIVALENTS |
Cash at bank and in hand includes cash in short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
CREDITORS AND PROVISIONS |
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
3. | DONATIONS AND LEGACIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Donations | 135,670 | - |
Grants | - | - |
135,670 | - |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Other grants | - | 2,295 |
4. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
School income | 113,241 | - | 113,241 | 200,509 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | INVESTMENT INCOME |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Interest received | - | - | - | 3 |
6. | RESOURCES EXPENDED |
OTHER TRADING ACTIVITIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Support costs | 130,381 | - | 130,381 | 183,811 |
7. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 8) | Totals |
£ | £ | £ |
Wellbeing | 105 | 58,353 | 58,458 |
Social Inclusion | - | 208,253 | 208,253 |
Education Pathway | 14,467 | 124,067 | 138,534 |
Head Office | - | 64,881 | 64,881 |
14,572 | 455,554 | 470,126 |
8. | SUPPORT COSTS |
Management | Finance | Other | Totals |
£ | £ | £ | £ |
Other trading activities | - | 865 | 129,516 | 130,381 |
Wellbeing | 5,842 | - | 52,511 | 58,353 |
Social Inclusion | 19,859 | - | 188,394 | 208,253 |
Education Pathway | 53,416 | 4,934 | 65,717 | 124,067 |
Head Office | 57,881 | - | 7,000 | 64,881 |
136,998 | 5,799 | 443,138 | 585,935 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
Other |
trading | Social |
activities | Wellbeing | Inclusion |
£ | £ | £ |
Wages - key personnel | - | 5,317 | 16,521 |
Social security -key personnel | - | 525 | 1,652 |
Pensions - key personnel | - | - | 208 |
Advertising | - | - | 1,478 |
Bank charges | - | - | - |
Accountancy | - | - | - |
Legal and professional fees | 865 | - | - |
Wages - operational | 115,060 | 39,966 | 139,275 |
Social security - operational | 8,788 | 2,881 | 4,363 |
Pensions - operational | 2,374 | 840 | 1,532 |
Hire of equipment | 3,055 | 1,432 | 1,848 |
Insurance | - | - | - |
Postage and stationery | - | - | 2,172 |
Sundries | - | 213 | 4,391 |
Motor expenses | 239 | 300 | 3,488 |
Entertainment | - | - | - |
Direct Costs | - | - | - |
IT Software and Consumables | - | - | - |
Staff welfare | - | - | - |
Venue Hire / Rental | - | 1,544 | 22,049 |
HAF Food & Activities | - | - | 9,276 |
Sports & Therapies | - | 5,335 | - |
Depreciation of tangible fixed assets | - | - | - |
130,381 | 58,353 | 208,253 |
2024 | 2023 |
Education | Head | Total | Total |
Pathway | Office | activities | activities |
£ | £ | £ | £ |
Wages - key personnel | 39,570 | 50,339 | 111,747 | 139,513 |
Social security -key personnel | 3,611 | 4,594 | 10,382 | 10,244 |
Pensions - key personnel | 942 | 1,198 | 2,348 | 2,972 |
Advertising | 9,293 | 1,750 | 12,521 | - |
Bank charges | 898 | - | 898 | 49 |
Accountancy | 3,928 | - | 3,928 | 3,830 |
Legal and professional fees | 108 | - | 973 | 12,875 |
Wages - operational | 18,143 | 7,000 | 319,444 | 164,065 |
Social security - operational | - | - | 16,032 | 6,396 |
Pensions - operational | - | - | 4,746 | 2,178 |
Hire of equipment | 240 | - | 6,575 | - |
Insurance | 464 | - | 464 | 578 |
Postage and stationery | 1,759 | - | 3,931 | 3,831 |
Sundries | 1,620 | - | 6,224 | 911 |
Motor expenses | 10,758 | - | 14,785 | 27,765 |
Entertainment | 2,643 | - | 2,643 | 2,069 |
Direct Costs | - | - | - | 21,602 |
IT Software and Consumables | 97 | - | 97 | - |
Carried forward | 94,074 | 64,881 | 517,738 | 398,878 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | SUPPORT COSTS - continued |
2024 | 2023 |
Education | Head | Total | Total |
Pathway | Office | activities | activities |
£ | £ | £ | £ |
Brought forward | 94,074 | 64,881 | 517,738 | 398,878 |
Staff welfare | 446 | - | 446 | - |
Venue Hire / Rental | - | - | 23,593 | - |
HAF Food & Activities | - | - | 9,276 | - |
Sports & Therapies | 28,117 | - | 33,452 | - |
Depreciation of tangible fixed assets | 1,430 | - | 1,430 | 1,160 |
124,067 | 64,881 | 585,935 | 400,038 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
11. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
464,699 | 325,368 |
The key management personnel consist of; - |
-Chief Executive Officer |
-Operations Manager |
-Inclusion Manager |
-Health and Wellbeing Manager |
Total amounts paid to Key Management Personnel is as follows: - |
2024 | 2023 |
Gross Salary | £111,747 | £139,513 |
Social Security | £12,073 | £13,924 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
11. | STAFF COSTS - continued |
Pension | £2,348 | £2,972 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Average |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Resources expended |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (8,876 | ) | 8,876 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 41,496 | - |
TOTAL FUNDS CARRIED FORWARD | 108,117 | - | 108,117 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
13. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Pension payable | 1,508 | 1,241 |
Net wages | - | 252 |
Accruals |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
16. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
Unrestricted fund | 108,117 | 125,066 | 233,183 |
Restricted funds |
Restricted fund | - | 57,841 | 57,841 |
TOTAL FUNDS | 182,907 | 291,024 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
Unrestricted fund | 635,867 | (510,801 | ) | 125,066 |
Restricted funds |
Restricted fund | 147,547 | (89,706 | ) | 57,841 |
TOTAL FUNDS | ( |
) | 182,907 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.7.22 | in funds | funds | 30.6.23 |
£ | £ | £ | £ |
Unrestricted funds |
Unrestricted fund | 41,496 | 75,497 | (8,876 | ) | 108,117 |
Restricted funds |
Restricted fund | - | (8,876 | ) | 8,876 | - |
TOTAL FUNDS | 41,496 | 66,621 | - | 108,117 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
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 |
Unrestricted fund | 378,944 | (303,447 | ) | 75,497 |
Restricted funds |
Restricted fund | 120,287 | (129,163 | ) | (8,876 | ) |
TOTAL FUNDS | 499,231 | (432,610 | ) | 66,621 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.7.22 | in funds | funds | 30.6.24 |
£ | £ | £ | £ |
Unrestricted funds |
Unrestricted fund | 41,496 | 200,563 | (8,876 | ) | 233,183 |
Restricted funds |
Restricted fund | - | 48,965 | 8,876 | 57,841 |
TOTAL FUNDS | 41,496 | 249,528 | - | 291,024 |
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 |
Unrestricted fund | 1,014,811 | (814,248 | ) | 200,563 |
Restricted funds |
Restricted fund | 267,834 | (218,869 | ) | 48,965 |
TOTAL FUNDS | 1,282,645 | (1,033,117 | ) | 249,528 |
Stockport County Community Trust |
"formerly The Hatters Project Limited" |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
17. | RELATED PARTY DISCLOSURES |
The charity is controlled by the Trustees who are all directors of the company and are therefore related to it. |
A loan of £0 (2023: £50,000) was settled as at 30 June 2024 to Select Group International Limited, of which a Trustee, G P Beswick, is also a director. |
18. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2024 | 2023 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
182,907 |
66,621 |
Adjustments for: |
Depreciation charges | 1,430 | 1,160 |
Investment Income | - | (3 | ) |
(Increase)/decrease in debtors | (27,325 | ) | 13,346 |
Increase in creditors | 4,275 | 12,830 |
Net cash provided by operations | 161,287 | 93,954 |
19. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.23 | Cash flow | At 30.6.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 108,411 | 158,072 | 266,483 |
108,411 | 158,072 | 266,483 |
Total | 108,411 | 158,072 | 266,483 |