The trustees, who are also directors (with the exception of Joanne Murray) of the charity for the purposes of the Companies Act, present their annual report and the unaudited financial statements for the year ended 31 October 2025. This report has been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015) and in accordance with the Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The company's objectives are to promote the benefit of the residents of the Yorkshire and Humber regions (the "area of benefit") in particular but not exclusively young people, without distinction of race, sex or political, religious or other opinion, by associating the statutory authorities, voluntary organisations and individuals in a common effort to provide educational, cultural, social, welfare, training, recreational and leisure time facilities, with the aim of improving the conditions of life for young people.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing its aims and objectives. The main objectives and activities for the year continued to focus on providing youth facilities for its area and self sustainability and self sufficiency.
The principal aspects through which public benefit resulted from the charity's activities during the year were :
The provision of discounted refurbished computers and consumables to the general public, including a valuable recycling collection service within the community.
The provision of a full garage repair service and MOT testing station to the general public and businesses at discounted prices.
The provision of room hire facilities.
A new community field has been created at the rear of the project, to develop community activities and local community events. Ferry Fryston Community Hub is now open and running. This new hub provides a wide range of services to the local community. Mother and baby/toddlers groups are organised two mornings per week and proving popular. Two evenings per week are allocated to providing young people aged 9-11 years old and 11-14 years old a new drop in youth club facility, where they can come, and do a wide range of activities, homework, and support.
Funding has been granted to provide local adults access free online courses, basic first aid, food hygiene and autism awareness are proving popular with a good take up. Funding has also been submitted to provide a healthy eating (free lunches) and free activities to local children throughout the summer holidays.
The Statement of Financial Activities shows a net decrease in funds of £66,002, of which £23,750 is attributable to depreciation. Our reserves at the year end stand at £290,511. The levels of income and expenditure for this year and last year remain similar with no significant variations.
The present level of reserves is sufficient to run the project for at least a period of six months. The directors and trustees consider the financial position of the charity to be satisfactory.
Principal Funding Sources
Our primary sources of income remain rental income and covenanted profits from our subsidiary Airedale Community Trading (ACT) Limited, grants and donations along with being supported by our levels of reserves.
The trustees actively review the major risks which the charity faces on a regular basis and will continue to increase reserves where necessary, combined with an annual review of the controls over key financial systems and will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre.
The project continues to support local groups and organisations with premises, and rent free spaces and additional support where needed. The motorcycle maintenance course has been paused while other funding options are evaluated. The course proved very popular and the charity hopes to find further funding so it can be restarted and developed further.
Chrysalis Youth and Community Project is a registered charity, constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association with the liability of members in the event of a winding up being limited to £1 each. The company was incorporated on 10 October 1997.
The Trustees and Directors, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of one year after which they must be re-elected at the next Annual General Meeting.
The Management Committee comprises of members appointed by the Methodist Church in collaboration with its ecumenical partners, from local organisations, funding agencies (by invitation), the Methodist Youth Officer, individuals representing the Airedale community, young people in membership of the project elected at the Annual General Meeting by the members present and any others the Management Committee may consider appropriate.
The charity sees the recruitment, selection and subsequent induction of a new director as an opportunity to improve the effectiveness of management of Chrysalis. When preparing to recruit the board of directors undertake a "skills audit" to identify the skills, knowledge and experience required to perform effectively, and whether there are any skills gaps. The board actively seek to appoint new recruitments from a wider range of ages and of social and along with an induction programme and pack which contains a copy of Chrysalis's key documents. The supporting director meets the newly appointed director to discuss induction needs and to distribute key information such as the governing document, accounts, minutes, organisational charts and information about Chrysalis's policies.
The charity has a Management Committee who meet monthly and are responsible for the strategic direction and policy of the charity. A monthly Chief Executive Officer's report and individual section reports are presented and acted upon as necessary to ensure the charity meets its aims and objectives. The Chief Executive Officer oversees the strategic development of the project, whilst the computer, garage and office managers deal with the day to day administration of the charity.
In January 2006, Airedale Community Trading ( ACT ) Limited took control of Airedale Computer Recycling and Airedale Car Clinic. This is a subsidiary trading company, registered company number 05371056 and commenced to trade on 1 November 2005. Chrysalis Youth and Community Project is the sole member of the company which is a single member private limited company. It was established to develop an income to aid sustainability and oversee and control its trading activities in line with its aims and objectives. As stipulated in the Articles of Association of Airedale Community Trading ( ACT ) Limited, any profits shall be covenanted to the company known as Chrysalis Youth and Community Project, registered company number 03448225 and registered charity number 1066871 as and when seen fit by the directors.
The trustees' report was approved by the Board of Trustees And Directors.
I report to the Trustees and Directors on my examination of the financial statements of Chrysalis Youth and Community Project (the charity) for the year ended 31 October 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Chrysalis Youth and Community Project is a private company limited by guarantee incorporated in England and Wales. The registered office is The Active Centre, Stansfield Road, Airedale, Castleford, West Yorkshire, WF10 3UA.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees and Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees and Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees and Directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable.
The value of services provided by volunteers has not been included in these accounts.
Income from charitable trading activity is accounted for when earned and is shown inclusive of VAT.
Investment income is included when receivable.
Incoming resources from grants are recognised when the charity becomes unconditionally entitled to the grant.
Expenditure is recognised on an accrual basis as a liability is incurred, inclusive of any VAT and is reported as part of the expenditure to which it relates :
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
For management reporting and administrative purposes all costs for staff salaries and rent payable which are wholly attributable to the charity's subsidiary, Airedale Community Trading (ACT) Limited, and have bee expended for by the charity on behalf of the subsidiary and recharged back to the subsidiary in full have been recorded in these financial statements as income (Expenses recharged to Subsidiary) and expenditure (Salaries and Rent).
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
The costs of minor additions or those costing below £500 are not capitalised.
The Trustees operate an annual policy review with respect to impairment of fixed assets.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
In the application of the charity’s accounting policies, the Trustees and Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
At the end of the year there were balances of £18 (2024: £124) outstanding.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Capital grant
This was grants received to finance the construction and fitting out of a multi-purpose training, recycling and community garage facility for the community. All fixed asset expenditure from the capital project has been capitalised as property within the balance sheet. The only outgoing resources being allocated against this fund is for annual depreciation charges.
Motorbike project
This was a grant received from West Yorkshire Mayors Fund to cover the revenue costs of providing a motorbike maintenance course for young people.
Spectrum People
This was a grant received to finance the purchase of outside play equipment for our community hub in Ferry Fryston. At the year end all the income had been expended.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
During the year the charity entered into the following transactions with related parties:
At the end of the year Airedale Community Trading Limited owed the charity £16,180 (2024: £34,037)
At the year end the CEO Neil Kennedy owed the charity £19 (2024: Nil).
All transactions were undertaken on normal commercial terms.
Separate company financial statements are required to be prepared by law. Consolidated financial statements are not prepared because the group is small.
Details of the charity's subsidiaries at 31 October 2025 are as follows: