Gascoyne and Morningside Youth Clubs Ltd Charity Accounts

GASCOYNE AND MORNINGSIDE YOUTH CLUBS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06969469

CHARITY REGISTRATION NUMBER: 0000000

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2023

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2023

	Pages

Trustees' annual report (incorporating the director's report)	1 to 3

Independent examiner's report to the trustees	4

Statement of financial activities (including income and expenditure account)	5

Statement of financial position	6

Statement of cash flows	7

Notes to the financial statements	8 to 12

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023 .

Reference and administrative details

Registered charity name	Gascoyne and Morningside Youth Clubs Ltd

Charity registration number	0000000

Company registration number	06969469

Principal office and registered	67, Retreat Place,
office	Morningside Estate,
	Hackney,
	London
	E9 6RH

The trustees

	Mr W Gallagher
	Mr I Harper
	Miss N M Nixon

Company secretary	Miss N M Nixon

Independent examiner	Jon Debson FCA
	Galley House, Second Floor
	Moon Lane
	Barnet
	Herts
	EN5 5YL

Structure, governance and management

The organisation is a not for profit company limited by guarantee, incorporated on 22nd July 2009. The company's Memorandum of Association records that the company's principal objective is to run youth clubs and partake in general community activities. The company is responsible for the administration and management of the Gascoyne and Morningside Youth Clubs and is governed in accordance with its Articles of Association.

With effect from 01 April 2022, the activities of the company were transferred to H.O.P.E a Registered Charity, number 1193857.

Recruitment and appointment of management committee

The current trustee directors were all appointed immediately following incorporation of the company, and are subject to retirement by rotation at the next Annual General Meeting.

In accordance with the Articles of Association, all three directors retire at the forthcoming Annual General Meeting, and being eligible offer themselves for re-election.

Risk management

The Management Committee has conducted a review of the major risks to which the company is exposed. Where appropriate, systems and procedures have been established to mitigate the risks the company faces. External risks to funding have led to the development of strategic plans which allow for the diversification of funding. Procedures are in place to ensure compliance with health and safety of staff, volunteers and club users.

Organisational structure

The Management committee is currently comprised of two members who meet regularly and are responsible for the strategic direction and policy of the company. In addition to serving as members of the management committee two of the trustees act in an operational capacity as volunteer youth workers.

Objectives and activities

The principal objectives of the organisation were:

1. To provide a comprehensive youth service across two estates and the surrounding areas in Hackney. To provide a safe and nurturing environment to enable young people to express themselves and thrive.

2. To address issues relevant to young people in particular, gang and knife crime, drug and alcohol issues, postcode violence, Sexual health, ASB, education, employment and NEET, resilience and mental health, health and wellbeing. To provide young people with life skills which will enable them to live and contribute to their communities thus enabling them to grow in confidence.

In previous years, the objectives and activities were to support young people and the wider Hackney community through our youth provision, Foodbank and Management of Morningside Community Centre.

Achievements and performance

With effect from 01 April 2022, the activities of the company were transferred to H.O.P.E a Registered Charity, number 1193857.

Financial review

With effect from 01 April 2022, the activities of the company were transferred to H.O.P.E a Registered Charity, number 1193857.

The Financial Statements as set out on pages 9 to 16 summarise the transactions of the Company during the year ended 31 March 2023. During the year the company generated income from all sources of £Nil 98,888 (2022: £98,888). After accounting for total expenditure for the year of £Nil (2022: £107,769), there was neither surplus nor deficit for the year (2022: £8,881 deficit).

Plans for future periods

The company will remain dormant for the foreseeable future.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 18 December 2023 and signed on behalf of the board of trustees by:

Mr W Gallagher	Miss N M Nixon
Trustee	Trustee

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Gascoyne and Morningside Youth Clubs Ltd

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Gascoyne and Morningside Youth Clubs Ltd ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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

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 charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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 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 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.

Jon Debson FCA Independent Examiner

Galley House, Second Floor Moon Lane Barnet Herts EN5 5YL

18 December 2023

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2023

	2023		2022
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	–	–	98,750
Investment income	6	–	–	138
		----	----	--------
Total income		–	–	98,888
		----	----	--------

Expenditure

Expenditure on charitable activities	–	–	107,769
	----	----	---------
Total expenditure	–	–	107,769
	----	----	---------

	----	----	---------
Net expenditure and net movement in funds	–	–	( 8,881)
	----	----	---------

Reconciliation of funds

Total funds brought forward	103,673	103,673	112,554
	---------	---------	---------
Total funds carried forward	103,673	103,673	103,673
	---------	---------	---------

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

All income and expenditure derive from continuing activities.

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible fixed assets	10		–	3,381

Current assets

Debtors	11	–	2,000
Cash at bank and in hand		–	102,648
		----	---------
		–	104,648

Creditors: amounts falling due within one year	12	–		4,356
		----		---------
Net current liabilities			–	100,292
			----	---------
Total assets less current liabilities			–	103,673
			----	---------
Net liabilities			–	103,673
			----	---------

Funds of the charity

Unrestricted funds		–	103,673
		----	---------
Total charity funds	13	–	103,673
		----	---------

For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 18 December 2023 , and are signed on behalf of the board by:

Mr W Gallagher	Miss N M Nixon
Trustee	Trustee

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2023

	2023	2022
	£	£

Cash flows from operating activities

Net expenditure	–	(8,881)

Adjustments for:
Depreciation of tangible fixed assets	–	665
Other interest receivable and similar income	–	( 138)
Transfer to Registered Charity H.O.P.E	(102,648)	–

Changes in:
Trade and other creditors	–	( 21,181)
	---------	--------
Cash generated from operations	( 102,648)	( 29,535)

Interest received	–	138
	---------	--------
Net cash used in operating activities	( 102,648)	( 29,397)
	---------	--------

Cash flows from investing activities

Purchase of tangible assets	–	( 4,045)
Proceeds from sale of tangible assets	–	( 1)
	---------	--------
Net cash used in investing activities	–	( 4,046)
	---------	--------

Net decrease in cash and cash equivalents	( 102,648)	( 33,443)
Cash and cash equivalents at beginning of year	102,648	136,091
	---------	---------
Cash and cash equivalents at end of year	–	102,648
	---------	---------

Gascoyne and Morningside Youth Clubs Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 67, Retreat Place,, Morningside Estate,, Hackney,, London, E9 6RH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

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.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

4. Limited by guarantee

Each member's liability in the event of a winding up or dissolution of the company is limited to contributing to the company's assets such amount as may be required not exceeding £1. As at 31 March 2021 the company had three members.

5. Donations and legacies

Unrestricted Funds	Total Funds 2023	Unrestricted Funds	Total Funds 2022
£	£	£	£

Donations

	General Donations & Events	–	–	82,403	82,403

Gifts

Donations - Fees in Kind	–	–	16,347	16,347
	----	----	--------	--------
	–	–	98,750	98,750
	----	----	--------	--------

6. Investment income

	Unrestricted Funds	Total Funds 2023	Unrestricted Funds	Total Funds 2022
	£	£	£	£
Building society interest receivable	–	–	138	138
	----	----	----	----

7. Net expenditure

Net expenditure is stated after charging/(crediting):

	2023	2022
	£	£
Depreciation of tangible fixed assets	–	665
	----	----

8. Staff costs

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

9. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

10. Tangible fixed assets

	Equipment	Total
	£	£
Cost
At 1 April 2022	21,620	21,620
Disposals through business combinations	( 21,620)	( 21,620)
	--------	--------
At 31 March 2023	–	–
	--------	--------
Depreciation
At 1 April 2022	18,239	18,239
Disposals through business combinations	( 18,239)	( 18,239)
	--------	--------
At 31 March 2023	–	–
	--------	--------
Carrying amount
At 31 March 2023	–	–
	--------	--------
At 31 March 2022	3,381	3,381
	--------	--------

11. Debtors

	2023	2022
	£	£
Trade debtors	–	2,000
	----	-------

12. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	–	2,533
Other creditors	–	1,823
	----	-------
	–	4,356
	----	-------

13. Analysis of charitable funds

Unrestricted funds

	At 1 April 2022	Income	Expenditure	Transfers	At 31 March 2023
	£	£	£	£	£
General funds	103,673	–	–	(103,673)	–
	---------	----	----	---------	----

	At 1 April 2021	Income	Expenditure	Transfers	At 31 March 2022
	£	£	£	£	£
General funds	112,554	98,888	(107,769)	–	103,673
	---------	--------	---------	----	---------

14. Analysis of changes in net debt

	At 1 Apr 2022	Cash flows	At 31 Mar 2023
	£	£	£
Cash at bank and in hand	102,648	(102,648)	–
	---------	---------	----