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2024-03-31-accounts

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (REGISTERED NUMBER .' 02679740) REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

THE CARROLL CENTRE LIMITED YEAR ENDING 31 MARCH 2024 TRUSTEE ANNUAL REPORT The Trustees present their report and accounts for the year ended 31 March 2024. As the charty is also a company. the Trustees, Report includes the Directors, Report. The accounts have been prepared in accordance wtth the accounting pokies set out note 1 to the accounts and compty wtth the folkjwing: The charity's memorandum and art￿leS of associat#)n Applicable law and The requirements of the Statement of Recommended Practice, "Accounting and Reporting by CharitEs" Structure, govemance and managemenl The charty i8 a company limited by guarantee. The charity is governed by its Memorandum and Art￿leS of Association dated 22 January 1992. The guarantee of indiv￿ual members of the company is limited to £1 for each membef The Trustees who are also directors for the purpose of the Companies Act 2006. and those who served in the year were: Barbara Guthrie Marianne Foster NicoLq Horsey Paul Breakwell Sue Turner Alexandra Johnstone (appointed (20 June 2024 Colin Roberts (appointed 20 June 2024) Rachel Aron (retired 2 May 2024} Trustees benefrt from an induction process inckjding br￿fing$ on the governance of the company and charty. Trustees have access to Charity Commission Publications and to training opportunrties to devek)p expertise. Potential Truslees are required to complete an application form and appty to be checked through the Disck)sure and Barring Service, references are taken up and assessed prx)r to final consideration for appointment. Trustees are appointed annual￿ at the Annual General Meeting and can be co-opted by the Board be￿een AGMS. None of the Trustees have any benef￿￿91 interest in the company. The Trustees have assessed the major risks to which the charty is exposed and are sattsfEd that systems are in place to mitigate any exposure to the maTr)r risks. The Trustees appoinl a Centre Operational Manager and Head of Nursery and Childcare to manage the operational work of the charty and advise the Board on flnancial and operational matters.

THE CARROLL CENTRE LIMITED YEAR ENDED 31 MARCH 2024 TRUSTEES ANNUAL REPORT Objectlves and actlvfties The company was incorporated on 14 January 1992. The company was formed for the benefit of the young people of Stanmore and surrounding neighbourhoods to maintain. manage and develop its remit. In 2020 the Centre changed its trading name and became known as the Carroll Centre. The Carroll Centre aims to: Promote activitl8s lo benefit children, young people and families in Stanmore and the surrounding area Provide a safe, non41iscriminatory environment in which the principles of equal opportunity are actively promoted, without distinction of gender, age, sexual orientation or race, or of political, religious or other belief5. Build partnerships belween the community and other agencies in a common effort to advance education and provide activities in the Inter8sts of health and soclal welfare, recreation and leisure time occupatlon. Statement of Public Benefft derlved from actlvitles. We have referred to the guidance in the Charity Commission's general guidance l on public benefitwhen reviewing our aims and objective and in plannlng our future activities. In particular the Trustees have considered how planned , activities will contribute to the aims and objectives they have seL 'The focus of our activities is to work with children, young people and their families to give children the best possible start in life, to inspire them to become I Posltive, happy and healthy adults within a supportive community. We are committed to working in pathership with other agencles to secure the widest range of services to meet the needs of the local population. All our 'activities are undertaken to further our charitable purposes for the publlc beneflt. Summary of coro actlvltles and 8ervlces undertaken e Carroll Centre has continued to be a place at the heart ofthe community roviding superb education, supportand encouragementto local children and rnilies. In the activities it has undertaken with families it is able to encourage arenting and family skills. In the relationships it forges with parents it is able to Identify the most vulnerable and offer emotional and practical support. The cuts nd financial difficulties faced by the local families create increasing stress and , ardship. Feedback is welcomed and acted upon. There is a culture in the centre f openness and willingness to change,

Annual Report April 2023- March 2024 Nursery There have been many staff changes and challenges during the year. We had an excellent deputy manager, Beth Parkinson, who was able, with her staff, to earn a 'Good' rating from Ofsted in November 2023. The numbers for nursery are slowly improving. but we do need more children to join. We have employed a new Head of Nursery and Childcare. Lauren Sylvester. she stsrted in her new job in March 2024. Qube and Café Qube has been an asset to the centre. tt attracts a wide range of families. It has the added advantage of being a facility for the nursery children and children from the holiday play scheme. These are children whose families would othe￿iSe not be able to afford it. The café is popular, and it provides useful training in the catering trade for volunteers. The Food Pantry Jess Giles, ably assisted by Ann Maloney, runs the Food Pantry. It receives donations from Sainsbury's (Badger Fami and Eastleigh Town Centre), Lidl. Vale Farm (eggs) and some private donors. Stanmore School. St Peter's School, Kingsworthy School and Kings School have all donated regularly. It has also received fijnding from HCC. It has partnerships with the Hygiene Bank, NCT and the Basics Bank. It has nearly 500 members which indicates the level of need in Winchester and especially Stanmore. HAF Holiday Playscheme (Hampshire County Council Funding Stream) The play schemes continued during Christmas, Easter and Summer, providing a meal and creative activilies for children who would have no access to these kinds of facilits'es. Head of Centre Steve Maloney has been approved by the Board as the operats.onal Head of Centre after a six-month trial period. He has risen to many challenges. has extremely good relationships wilh the staff and volunteers, and has contributed signifirAntly to the ongoing success of the Carroll Centre. Fund Raislng The most significant donation has been an award of £250.000 over five years by The Oak Foundation. Sue Turner, Nicola Horsey and Steve Maloney meet regularly to apply for funding grants. The Peg it FoNiard scheme has been su￿sSfUl, individuals can donate money which can then be given for a hot drink, ora visitto Qube. Christmas Market One ofour community development activities was the three-day Christmas Market. St attracted small home businesses and our own in- house fundraising stalls. It was an afft)rdable community activity and raised awareness of the Centre.

Art Exhibition Thanks to the generosity of Winchester University, we were able to hold an extremely successful art exhibition. We were given the use of the beautiful gallery for four days and wine and ca napes for the opening night and we raised nearly £6,000. Many local artists showed their work.

Home Start We were delighted when Home Start, a charity which supports young families, moved into the Carroll Centre in December 2023, renting a couple of rooms from us. It is a mutually beneficial partnership.

Trustees

Barbara Guthrie Nicola Horsey Sue Turner Rachel Aron Marianne Foster Paul Breakwell

It was with great regret we said goodbye to Rachel Aron who has become a Liberal Democrat City Councillor. She has worked tirelessly for the Centre, and we shall miss her.

Two new trustees are joining us are Colin Roberts and Alexandra Johnston. We welcome them.

On our Finance Committee we had the excellent Edwina Curtis Hayward and she left us after giving us several years of her wisdom.

Thank you to the Operational Head of the Centre, Steve Maloney, the staff and volunteers. Thanks to you for your hard work and good nature. People comment on what a friendly place the Centre is, and it is just that, a place to feel safe and

arbara Guthrie (Chair)

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INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE CARROLL CENTRE LIMITED

I report to the Charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 8 to 17.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity 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 Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts 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 company'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 in any material aspect:

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.

Kerry Lawrance FCA

Compass Accountants

Chartered Accountants and Registered Auditors Venture House The Tanneries Titchfield PO14 4AR

Date: 4th December 2024

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THE CARROLL CENTRE LIMITED (Company limited by guarantee and not having share capital} LEGAL AND ADMINISTRATIVE INFORMATION Charlty number 1007973 Company number 2679740 Trustees Barbara Guthrie Marianne Foster Nicola Horsey Paul Breakwell Sue Turner Alexandra Johnstone (appointed (20 June 2024 Colin Roberts (appointed 20 June 2024) Rachel Aron (retired 2 May 2024) Prlncipal addres8 The Carroll Centre Somers Close Stanmore Winchester S022 4EJ Reglstered offlce The Carroll Centre Somers Close Stanmore Winchester S022 4EJ Independent examlner Compass Accountants Chartered Accountsnts and Reglstered Audltors Venture House The Tanneries Titchfield P014 4AR Bankers Lloyds Bank 49 High Street Winchester S023 9BU

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limited by guarantee and nol having share capitsll REGISTERED NUMBER . 02679740 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Ilncluding Income and Expendlture account) Unrestrlcted Reslrlcted Total funds funds funds 2024 Total fvnds 2023 Notes INCOME Donauons and legacies Trading income Charitable activities Investmenl income 16,856 5.386 106,777 16,856 5,386 224,220 17,468 915 252,860 25 117,443 TOTAL INCOME 129,019 117,443 246,462 271,268 EXPENDITURE Charilable activities 156.828 117.443 274,271 303,366 TOTAL EXPENDrniRE 156,828 117,443 274,271 303,366 NET INCOMEI {EXPENDITURE) FOR YEAR 127,809) (27,809) (32,098) TRANSFERS BETWEEN FUNDS TOTAL FUND BALANCE BROUGHT FORWARD 275,690 275,690 307,788 TOTAL FUND BALANCES CARRIED FORWARD 247,881 247,881 275,690 The statement offinancial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limited by guarantee and not having share capital) REGISTERED NUMBER . 02679740 BALANCE SHEET AT 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 129,220 139.528 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 795 726 166,057 167,578 795 16,284 140,761 157,840 CREDITORS: amounts falling due wlthln one perlod 10 48,917 21.678 NET ASSETS 247,881 275,690 FUNDS Unrestrlcled funds Restricted funds 12 11 247.881 275.690 TOTAL FUNDS 247,881 275,690 For the financial year ended 31 March 2024. the company was entitled to exemption from audit under seclron 477 Companies Act 2006,. and no notice has been deposited under section 476. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records, which comply with section 386, and preparing accounts, which give a true and falr view of the stste of affalrs ofthe company as atthe end of the year and of its surplus or deficit for the financial year, in accordance wilh the requirements ofsection 394 and 395 and which otherwise comply wlth the requlrements ofthe Companies Act 2006 relating to accounts, 80 lar as applicable to Ihe company. The accounts have been prepared in accordance wlth the sp8cI81 provlsions ofPart 15 of the Companies Act 2006 relatlng to small companies. Approved by the Trustees on and signed on their behalf by Barbara Guthrie Paul Breakwell Trustee Trustee i)a_Q

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limited by guarantee and not having share capilal) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 The company changed its name by special resolutson on 8th October 2020 from Stanmore Youth Centre Limited to The Carroll Centre 1 ACCOUNTING POLICIES (a) Accountlng convenlon The financial statements have been prepared in accordance with 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 2015)- (Charities SORP 19 IFRS 102)), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The charity meets the definition of the public b8nefit entity under FRS 102. Assets and liabilities are initially recognised at historical cosl or transaction value unless otherwise stated in the relevant accounting policy note. The accounls have been prepared on the going concem basis. The Trustees believe that there are no material uncertainties about the charity's ability to continue. Trustees will continue to explore alternative revenue streams and consider that the Charity has sufficient reserves to enable it to continue. (b) Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtheran￿ ofthe general objectives ofthe charity. Designated funds are earmarked for a specific purpose by the trustees. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. {c) Income All income is included in the Statement of Financial Activits'es when the charity is entiued to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular Donations and legacies are received by way of grants, donations, legacies and gifts and is included in full in Ihe Statement of Financial Activilies when receivable. Grants, when entillement is nol conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes uncondits'onally entitled to the granL Investrnent income is included when receivable. Resources are deferred when, at the end of an accounting period, they have been re￿iVed but the charity has yet to become unconditionally entitled to them. 10

THE CARROLL CENTRE LIMITED (Fonnerly Stanmore Youth Centre Llmited) (Company limited by guarantee and not having share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES (continued) (d) Expendlture Expenditure is recognised on an accrual basis as a liability is incurred. tt Indudes any VAT paid. Costs are apportioned In line with the Income received from thatsource during the year. Charitsble activities eXpendI￿re comprises oflhose costs incurred by the charity in the delivery of its activities and seniices for its beneficiaries. It includes both costs that can be allocated directly to such activltles and thos8 costs of an indirect nature necessary to support them. All costs are allocated between the expendilure calegories of the Statement of Financlal Activlties on a basls designed to reflecl the use ofthe resource. Costs relating to a particular activity are allocated directly. (e) Fixed assets FSxed assets are capitslised for ongoing use withln the company, where the indlvldual cost oflhe a83et exceeds Depreciation Is provided on fixed assets to spread the cosl over the 8stimated useful Ilves of the relevant assets at the following rales., Motorvehicles Furniture, fittings and equipment Leasehold improvements 250/0 Reducing balance 250/0 Reducing balance Straighlline over the lease term (fj Stock Stock is valued at Ihe lower ofcosl and net realisable value. (g) Pensions The charlty parbcipates in a defined contribution pension scheme. Contribuilons in respect of the company's defined contrbution pension Scheme are ch8rged to the profit and loss account for the year in which they are payable to the scheme. Differences beljveen contributions payable and contributions actually paid in the year are shown as either creditors or debtors at Ihe year end. (h) opera￿ng leases Rentals paid under operating leases are charged to the Stslement of Financial Activits'es on a stralght line basis over Ihe18ase term.

THE CARROLL CENTRE LIMITED (Fomierly Stanmore Youth Centre Limited) (Company limited by guarantee and not having share capilal) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) {1) Financial Instruments The company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Seclion 12'0ther Financial Instruments Issues, of FRS102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the Instrument. Flnancial assets and liabilitles are offset, with the net amounts presented in the financial stslements, when there is legally enforceable right to set off the recognised amounts and there is an intents'on lo settle on a net basis orto realise the asset and settle the liability simultaneously. The company's financial assets and liabilities consist of cash and cash equivalents, shortlerm investments, trade debtors, trade creditors and accrued expenses. The fair value ofthese items approximates their carying valu8 due to their short lemi value. Unless otherwise noted, the company 15 not exposed to significant interes( foreign exchange or credit risks arising from these instruments. 2 LEGAL STATUS The charity is a privale company limited by guarantee and has no share capital. The charitable company was incorporal8d on 22 January 1992 in England and Wales and was registered on 7 Febwary 1992 with lh8 Charity Commission in England and Wales (Charity number 1007973). The charity is a public benefit entity. The registered office and place of business is Somers Close. Winchester. Hampshir8 S022 4EJ. A description ofthe charity's operations and principal activities is stated in the trustses, report. 3 INCOME FROM CHARITABLE ACTfviTIES Unrestrlcted Restricted funds funds 2024 2023 Charitable actlvities Central fijnding Poppins Nursery HAF QUBE Soft Play and café Food panty 18,870 5,268 445 81,985 209 106,777 18,870 70,325 16.037 81,985 37,003 224,220 27,825 72,503 30,700 81.439 40,393 252,860 65,057 15,592 36,794 117,443 In 2023. £110,458 ofincome was restricted with the remaining £142,402 being unrestricted. 12

THE CARROLL CENTRE LIMITED (Fonnerly Stanmore Youth Centre Limlted) (Company limited by guarantee and not having share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (contlnued) 4 DONATIONS AND LEGACIES 2024 2023 Guy Buuer Limited Alresford Golf Club Christchurch PCC Kings Worthy PCC Miscellaneous and anonymous donations 2,000 1.700 2,325 3,000 3,000 1,000 10,856 16,856 10,443 17,468 5 GRANTS RECEIVED 2024 2023 Wlnchester Clty Council- core funding HCC early years funding HP4VCF HCC HAF HCC Food Panty Soulhem Water grant Wlnchester Baslcs Bank Julla and Hans Rausing Trust 4.080 65,057 4.590 70,065 10,000 30,700 20.000 15,592 23,794 8,000 5,000 3,510 138,865 121,523 STAFF COSTS 2024 2023 Wages and salaries Employers Nats'onal Insurance Pension 173,358 6,817 3,929 184 104 181.848 8,333 3,088 193,269 The average number ofslaff employed during the year was 13 (2023: 10). No employee received emoluments of£60,000 or more during Ihis year or the prior year. No trustees received any emolument orwere reimbursed Key management p8rsonnel were paid a totsl of £101,236 during the year (paid to 4 ernploye8s)(2023 £78,842) 13

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limited by guarantee and not having share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) EXPENDITURE Unrestrlcted Restricted funds fun(ts 2024 2023 Costs directly allocated to actlvlties Direct staff costs {see note 6) Stsff and volunteer expenses Resources and equipment Training and recruitment 88,935 95,169 184.104 193,269 25,732 2,101 116,768 8,578 701 34,310 2,802 221,216 41,606 7,304 242,179 104,448 Support costs allocated to actlvities Rent. rates and water Light and heal Cleaning. refuse and security rrsupport Publications and subscriptions Advertising Telephone Postage, printing, stationery and photocopying Insurance Depreciation Legal fees, bank charges and interest Accountancy support and consultsncy Bad debts Repairs and renewals 2,457 5,269 5,287 3,126 1,498 69 4,399 110 3,087 7.731 32 3.613 1,081 1,634 39,393 819 1,756 1,762 1,042 500 23 1,466 37 1,029 2.577 3.276 7,025 7,049 4,168 1.998 92 5,865 147 4,116 10,308 43 4,818 1,081 2,179 52,165 1,717 15.419 5,871 3,221 972 838 5,422 1,166 3.827 17,230 1.297 876 (12) 2,643 60,487 1,205 545 12,772 Governance costs Accountancy and examination fees 667 156,828 223 117,443 890 274,271 700 303,366 Included within accountancy and examinations fees above are amounts due to the independent examiners In relation to independent examination of£660 (2023.. £660) 14

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limited by guarantee and not having share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 8 TANGIBLE ASSETS Leasehold Improvements Flxtures, •qulpment Total Cost At slart ofthe year Additions Disposals At end ofyear 924,851 100 119,601 1,044,452 100 924.951 119.601 1,044,552 Depreclatlon At beginning of the year Charge Oisposals At end of perlod Net book value At end ofyear At beglnning ofyear 797.117 4,965 107,807 5,443 904,924 10,408 802,082 113,250 915.332 122,869 127,734 6,351 11.794 129,220 139.528 9 DEBTORS 2024 2023 Trade debtors Prepayments and accrued income Olher debtors 8,075 1,952 6,257 16,284 726 726 10 CREDITORS: amounts falling due within on8 year 2024 2023 Trade credltors PAYE and National Insurance Accruals and deferred income Other creditors 917 5,324 3,252 12,045 1,057 21,678 47,298 702 48,917 15

THE CARROLL CENTRE LIMITED (Fomierly Stanmore Youth Centre Llmited) (Company limited by guarantee and not having share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 11 RESTRICTED FUNDS Fund$ Income Expenditure Transfers Funds Poppins Nursery Food Pantry HAF 65,057 36,794 15,592 117,443 65,057 36,794 15.592 117,443 Poppin8 Nursery The Nursery (2-5 years) is funded by Hampshire County Council. 3 year and 2 year old fvnding. Any surplus arising from fijnded Nursery Activities is rlng fenced to support future activities of the Nursery. Food Pantry A Hampshire Council sponsered scheme to provide low cost food to families in need 12 UNRESTRICTED FUNDS The income of the charity includes the following designated fvnds which have been set aside out of unrestricted funds by the trustees for specific purposes: Funds Income Expenditure Transfers Funds Deslgnated funds Maintenance ￿SerVe Property reserve Charity Income reserve Supportfund Operats'onal reserve Families and young children QUBE activities 23.140 127.734 99,799 7,946 23.140 122,869 2.298 7.946 80,000 10,000 1,628 247,881 (4,865) (97,501) 80,000 10,000 7,071 275,690 5,443 10,308 146,520 156,828 17,501 17.501 General funds 129,019 129,019 275,690 247,881 Maintenance reserve This reserve was created to coversubstantial maintenance costs that might arise in the foreseeable futu￿. Property reserve The property reserve is an amount equal to Ihe net book value ofthe centre's leasehold propety. Depreciation has been charged equally over the remaining lease term amounting to £4,865. A new lease was signed in October 2023 and will run for 25 years from then.

THE CARROLL CENTRE LIMITED (Formerly Stanmore Youth Centre Limited) (Company limiled by guarantee and not having share capitsl) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Operatlonal reserve The Operational reserve is annually reviewed by the Trustees to ensure Is covers any unforeseen events. Thls year that requirement was considered to be al least £80,000. Support fund The support fund is available to support an unforeseen community needs. Charlty Income reservo This fund represents any accumulated unrestrcited funds over and above the required Operational Resetve above. QUBE SOFf PLAY r¢serve The Trustees approved the set up of a social enterprise 'QUBE Softplay, and agreed that sufficient resep4es be made available for the purchase of Softplay and Cafe equipment £55,191 which will be depreciated over 5 years. Depreclation costs of£9600 have been offsel agalnst thls fund. Families and young chlldren A donatlon received during 19120 has been sel aside to support future family activities . 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlct•d Re•trictod 2024 Tangible fixed assets Stock Debtors Bank and cash Credllors 129,220 795 726 166,057 48,917 247.881 129,220 795 726 166.057 48,917 247.881 14 RELATED PARTh TRANSACTIONS There were no related paty transactlons durfng the year. 15 PENSION SCHEME The company operates a defined contribution pension scheme on behalf ofcertaln 8mployees. The assets of the scheme are held in an independently administered fund. The scheme came into effect on 1 November 2016. The annual pension commitrnent under this scheme is £3,088,(2023'. £2,078). There are 7 current 16 LEASE COMMITMENTS The company has a 25 year lease which was renewed for 25 years from October 2023. The annual rental is £1.000. 17