| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| YES2VENTURES LIMITED |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| YES2VENTURES LIMITED |
| YES2VENTURES LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 19 |
| YES2VENTURES LIMITED |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| for the Year Ended 30 September 2024 |
| TRUSTEES |
| COMPANY SECRETARY | D W B Ware |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| INDEPENDENT EXAMINER | Hodgson & Oldfield |
| Aizlewood's Mill |
| Nursery Street |
| Sheffield |
| S3 8GG |
| YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 September 2024 |
| 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 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| The charitable company's objectives are to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society, in particular by: |
| A) providing transport facilities for people who have special need of such facilities because they are elderly, poor or disabled people with young children or those living in isolated areas where there are no adequate public transport facilities. |
| B) providing opportunities to establish and grow businesses to relieve the needs of those people and assist them to integrate into society. |
| C) providing advice, guidance and training to develop the capacity and skills of the members of the socially and economically disadvantaged community in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society. |
| For the purpose of this clause 'socially excluded' means being excluded from society, or parts of society, as a result of one or more of the following factors: |
| Unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into society). |
| Public benefit statement |
| The trustees have complied with their duty in Section 17(5) of the 2011 Charities Act to have due regard to the guidance published by the Charity Commission on public benefit. |
| YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 September 2024 |
| ACHIEVEMENTS AND PERFORMANCE |
| Yes2Ventures helps to establish, grow and support enterprises to create employment that give hope and purpose to the lives of many people at risk of social exclusion. For fourteen years, until 31st March 2024, the company operated a travel support enterprise to take more than one hundred and thirty people with learning disabilities and health-related issues regularly to where they want to go. Some twenty-five support workers, some employed by us and some self-employed, have been engaged in providing this much valued service. |
| In the first quarter of the year, on contract to Sheffield City Council, and funded in part by the European Social Fund, we continued to prepare disadvantaged job seekers for work and further education. As well as using traditional job finding methods - cv preparation, job search, interview practice, etc - we ran 'Positive Change' workshops to teach skills in arts and crafts, digital and screen printing, woodwork and in art and in non-vocational activities that build confidence and self-esteem. |
| A year ago, we reported that our founder Directors were minded to retire, and by the end of this accounting period, almost all activity has ceased. The Travel Support Enterprise had been taken on by Disability Sheffield, the workshops had become voluntary social groups, and the microbrewery had stopped brewing. The need to create employment and opportunities for adults who are distant from the labour market remained, so the charity has continued its central mission of advocating for the development of Social Firms and won a contract to do so after the year end. The cost of this transition has been facilitated by a grant from Sheffield City Council's Market Sustainability and Improvement Fund, which has given a new future to the departing enterprises and preserved the charity's core. |
| FINANCIAL REVIEW |
| Incoming resources for the year reflected the curtailing of some activities and the transfer of others and reduced to £309,205 (2023: £489,799) and resources expended matched the pattern of income at £295,944 (2023: £507,273) resulting in a net surplus for the year of £13,261 (2023: net deficit of £17,474). Grants from Sheffield City Council for the provision of employability services and social care amounted to £60,690 and other grants and donations totalled £28,451. |
| The balance on restricted funds at the year end date was £nil (2023: :£3,378). The balance on unrestricted funds at the year end date was £38,002 (2023:£21,363) and free reserves were £18,272.. |
| Risk management and reserves |
| The director trustees have considered the risks posed to the company by competition and by change of government policy. We are satisfied that we are vigilant in monitoring these risks, and that our revised and reduced modus operandi will increase the charity's financial stability. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Yes2Ventures Limited is a not-for-profit charitable company limited by guarantee. It became a registered charity from 18 November 2014. The company was incorporated under its Memorandum and Articles on 12 January 1999 as amended by special resolution on 27 October 2014. |
| The charity may, by ordinary resolution, appoint a person who is willing to act to be a trustee/director. The minimum number of directors shall be three. |
| YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 30 September 2024 |
| TRUSTEES |
| The trustees shown below have held office during the period from 1 October 2023 to the date of this report. |
| M O Powell |
| P C Davison (resigned 19.6.24) |
| T E O Fordham (appointed 22.5.24) |
| D W B Ware (appointed 19.6.24) |
| J D Le Corney (appointed 19.6.24) |
| I Livingstone (appointed 19.6.24) |
| STATEMENT OF TRUSTEES' RESPONSIBILITIES |
| The trustees (who are also the directors of Yes2Ventures Limited 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. |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| YES2VENTURES LIMITED |
| Independent examiner's report to the trustees of Yes2Ventures Limited ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 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. |
| S C Fields |
| Hodgson & Oldfield |
| Aizlewood's Mill |
| Nursery Street |
| Sheffield |
| S3 8GG |
| 31 July 2025 |
| YES2VENTURES LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| for the Year Ended 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Charitable activities | 3 |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities | 4 |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 24,741 |
| YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091) |
| BALANCE SHEET |
| 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 |
| CURRENT ASSETS |
| Debtors | 11 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS/(LIABILITIES) |
| FUNDS | 14 |
| Unrestricted funds | 21,363 |
| Restricted funds | 3,378 |
| TOTAL FUNDS | 24,741 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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. |
| YES2VENTURES LIMITED (REGISTERED NUMBER: 03694091) |
| BALANCE SHEET - continued |
| 30 September 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 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2024 |
| 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. |
| The presentation currency is the Pound Sterling (£) and monetary amounts in these financial statements are rounded to the nearest £. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
| • | the requirements of Section 7 Statement of Cash Flows. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Income from Government and other grants, whether capital or revenue, is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Such income is only deferred when the donor specifies that the grant must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement. |
| 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 | - |
| Assets costing less than £500 are not capitalised. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| 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 |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Donations |
| Grants |
| Grants received, included in the above, are as follows: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Baily Thomas Charitable Trust | - | 4,490 |
| Other grants | - | 500 |
| - | 4,990 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 3. | INCOME FROM CHARITABLE ACTIVITIES |
| 30.9.24 | 30.9.23 |
| Activity | £ | £ |
Support services |
Social establishment and support services |
216,535 |
359,583 |
Grants |
Social establishment and support services |
60,690 |
104,178 |
Painting sales |
Social establishment and support services |
- |
3,104 |
Bar & food sales |
Social establishment and support services |
3,528 |
13,569 |
Workshop sales |
Social establishment and support services |
- |
58 |
| During the year, the travel support enterprise was taken over by Disability Sheffield however the charity is continuing its charitable activities in providing social establishment and support services. |
| Grants received, included in the above, are as follows: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Sheffield City Council | 60,690 | 104,178 |
| 4. | CHARITABLE ACTIVITIES COSTS |
| Support |
| Direct | costs (see |
| Costs | note 5) | Totals |
| £ | £ | £ |
| Social establishment and support services |
291,531 |
4,413 |
295,944 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 5. | SUPPORT COSTS |
| Governance |
| Finance | Other | costs | Totals |
| £ | £ | £ | £ |
| Social establishment and support services |
2,713 |
450 |
1,250 |
4,413 |
| 6. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Depreciation - owned assets |
| Other operating leases | 10,890 | 11,398 |
| Deficit on disposal of fixed assets |
| Pension costs | 1,158 | 3,077 |
| Independent examination fees | 1,200 | 1,100 |
| Rent | 14,514 | 28,989 |
| 7. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. |
| Trustees' expenses |
| Trustees are reimbursed for reasonable travel and office expenses incurred. |
| 8. | STAFF COSTS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Wages and salaries |
| Other pension costs |
| 137,233 | 272,772 |
| The average monthly number of employees during the year was as follows: |
| 30.9.24 | 30.9.23 |
| Social establishment & support services |
| The average monthly number of employees calculated on the basis of full time equivalents was 7 (2023: 14). |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 42,215 | - |
| TOTAL FUNDS CARRIED FORWARD |
21,363 |
3,378 |
24,741 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 10. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| All tangible fixed assets are used in direct furtherance of the objectives of the charity. |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loans and overdrafts (see note 13) |
| Other loans (see note 13) |
| Trade creditors |
| Social security and other taxes |
| VAT | 201 | 133 |
| Other creditors |
| Accrued expenses |
| 13. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank overdrafts |
| Other loans | 12,511 | 49,200 |
| Other loans consist of amounts loaned from individuals to assist the charity with cashflow. |
| 14. | MOVEMENT IN FUNDS |
| Net |
| At | movement | At |
| 1.10.23 | in funds | 30.9.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 19,839 | 16,959 | 36,798 |
| Designated fund | 1,524 | (320 | ) | 1,204 |
| 16,639 |
| Restricted funds |
| Pathways to Success | 3,378 | (3,378 | ) | - |
| TOTAL FUNDS | 13,261 | 38,002 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 14. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 251,893 | (234,934 | ) | 16,959 |
| Designated fund | - | (320 | ) | (320 | ) |
| ( |
) | 16,639 |
| Restricted funds |
| Pathways to Success | 9,672 | (13,050 | ) | (3,378 | ) |
| Market Sustainability & Improvement Fund |
47,640 |
(47,640 |
) |
- |
| ( |
) | (3,378 | ) |
| TOTAL FUNDS | ( |
) | 13,261 |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1.10.22 | in funds | 30.9.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 40,310 | (20,471 | ) | 19,839 |
| Designated fund | 1,905 | (381 | ) | 1,524 |
| 42,215 | (20,852 | ) | 21,363 |
| Restricted funds |
| Pathways to Success | - | 3,378 | 3,378 |
| TOTAL FUNDS | 42,215 | (17,474 | ) | 24,741 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 14. | 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 | 385,621 | (406,092 | ) | (20,471 | ) |
| Designated fund | - | (381 | ) | (381 | ) |
| 385,621 | (406,473 | ) | (20,852 | ) |
| Restricted funds |
| Behaviour Change | 22,500 | (22,500 | ) | - |
| Pathways to Success | 81,678 | (78,300 | ) | 3,378 |
| 104,178 | (100,800 | ) | 3,378 |
| TOTAL FUNDS | 489,799 | (507,273 | ) | (17,474 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| At | movement | At |
| 1.10.22 | in funds | 30.9.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 40,310 | (3,512 | ) | 36,798 |
| Designated fund | 1,905 | (701 | ) | 1,204 |
| 42,215 | (4,213 | ) | 38,002 |
| TOTAL FUNDS | 42,215 | (4,213 | ) | 38,002 |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 14. | MOVEMENT IN FUNDS - continued |
| 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 | 637,514 | (641,026 | ) | (3,512 | ) |
| Designated fund | - | (701 | ) | (701 | ) |
| 637,514 | (641,727 | ) | (4,213 | ) |
| Restricted funds |
| Behaviour Change | 22,500 | (22,500 | ) | - |
| Pathways to Success | 91,350 | (91,350 | ) | - |
| Market Sustainability & Improvement Fund |
47,640 |
(47,640 |
) |
- |
| 161,490 | (161,490 | ) | - |
| TOTAL FUNDS | 799,004 | (803,217 | ) | (4,213 | ) |
| Restricted Funds |
| These represent monies received by way of grants where the monies have been restricted to a specific purpose by the donor as follows: |
| - a Market Sustainability and Improvement Fund grant from Sheffield City Council specifically for salary costs in adult care provision. |
| - a Pathways to Success grant from Sheffield City Council (part funded by the European Social Fund) specifically for salary costs. |
| - a Behaviour Change grant from Sheffield City Council (part funded by the European Social Fund). |
| Unrestricted Funds |
| These represent monies which are free to be used generally by the charitable company. |
| Designated Funds - these represent monies where fixed assets have been purchased from a restricted fund but are not restricted assets. As such, the net book value of the assets have been transferred to unrestricted funds and designated as fixed assets to match against future depreciation. |
| YES2VENTURES LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2024 |
| 15. | EMPLOYEE BENEFIT OBLIGATIONS |
| The charitable company's pension scheme is a defined contribution pension scheme and all contributions paid are charged to the Statement of Financial Activities in the period that they were paid. Contributions paid by the company for the year were £1,158 (2023:£3,077). |
| 16. | RELATED PARTY DISCLOSURES |
| The following loans from related parties were outstanding at the year end date: |
| £ |
| M Powell | Trustee | 9,100 |
| T Fordham | Trustee | 411 |
| 17. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the director trustees. |
| 18. | LIABILITY OF MEMBERS |
| The liability of members is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member, for |
| 1) payment of the charity's debts and liabilities incurred before he, she or it ceases to be a member, |
| 2) payment of the costs, charges and expenses of winding up, and |
| 3) adjustment of the rights of contributories among themselves. |