Charity registration number.. 1010074 OAC Buildings UNAUDITED FINANCIAL STATEMENTS For the year ended 31 December 2024
OAC Buildings Contents Page Legal and administrative information Trustees, annual report Independent Examiner's report Statement of financial activities Balance sheet Statement of cash flows Notes to the accounts 10-16
OAC Buildings Legal and administrative information for the year ended 31 December 2024 Trustees W Howard H Clarke H Furness J Sleaford A Linster N Whiteway Other volunteer members of the Management Committee (not Trustees) E Parker A Evans Registered office Whiteley Woods Outdoor Activity Centre Common Lane Sheffield SII 7TG Charity number 1010074 Bankers CAF Bank Limited PO Box 289 West Malling Kent ME19 9TA Virgin Money 154-158 Kensington High Street London W8 7RL Accountants Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
OAC Buildings Directors, report (incorporating the Trustees, annual report) for the year ended 31 December 2024 The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 December 2024. The financial statements comply with the Charities Act 2011. the governing document and the 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} issued in October 2019. Structure• governance and management OAC Buildings is a Charitable Incorporated Organisation ICIO). Originally registered with the Charity Commission on 25 March 1992 the charity converted to a CIO, with limited liability of £1, on 26 November 2021. The charity number is 1010074. Overall management of the Charity is the responsibility of the Trustees. Day to day operations are undertaken by the Centre Manager who was appointed on 10 April 2024 alongside other part time staff and volunteers. Other than time none of the trustees have significantly financially contributed to the charity. The volunteers are an essential part of the charity and without a doubt events such as the Winter Weekend and Heritage Open Days could not take place without their valued contribution and support. Staff remuneration is set by the management committee who benchmark against cost of living rises as well as increases in the national minimum wage. The trustees retire from office and are elected at the Annual General Meeting each year. The trustees acknowledge that we need to recruit both members of the management committee and trustees. It is felt that we should look to recruit management committee members that can compliment and bring other skills at present lacking in the management team. From which we can then grow the trustees organically. This will be our primaryfocus overthe next 12-18 months, ensuring we have a strong team to take the charity foard. Charitable Aims and objertives The charity exists to educate and assist young persons. The main aim of the charity isto provide opportunitiesforyoung people to carry out outdoor activities. The charity principally provides accommodation for groups of children and young people, principally members of Guiding and Scouting but including school and other youth groups in the buildings of the Outdoor Activities Centre together with opportunities to use the grounds for camping and outdoor activities. In carrying out these activities, the trustees have had regard to the guidance issued by the Charity Commission on public benefit, social investment and in particular with regards to fee charging.
OAC Buildings Directors, report {incorporating the Trustees, annual report) (continued) for the year ended 31 December 2024 Activities and achievements In 2024 we welcomed many groups for residential experiences and were pleased to provide opportunities for school and university groups alongside groups from Girlguiding and Scouting. Our Whiteley Woods Winter Weekend was delivered in March with over 70 young people experiencing an activity weekend run by us. The winter weather didn't stop enjoyment, and a great event was had. Fundraising continued to support the 'Futureproof the Centre, initiative to maintain our 300-year-old listed buildings. Although it was agreed due in part to the great amount of emphasis it placed on our volunteers and also to strengthen the content of the days we would not be taking part in the Heritage Open Days in 2024 and 2025, but would return to it in 2026. Following the award of a Youth Investment Fund grant to refurbish the derelict Goodwin Cottage and replace a shower and toilet block, work continued during the early part of 2024. Working with our preferred contractor, building surveyor and architect, a modernised residential space was delivered in May 2024. Specialist consultants provided advice about the environmental and cost implications of the building. An air source heat pump was installed alongside underfloor heating and breathable plaster and paint used to provide the best environmental solutions to our Grade 2 listed, 300 year old building. We were delighted to be given a grant from the South Yorkshire Community Foundation to help purchase fixtures and fittings for the Cottage. Alongside Goodwin Cottage, the new toilet and shower block was in place from April 2024. Following the gift of land from neighbours, Girlguiding Sheffield has worked to register the title to the whole of the centre including the gifted area and has issued OAC Buildings with a new lease. As part of the Youth Investment Fund grant, we secured funding for a marketing and development worker to promote the centre. A part time worker was appointed and started work in January 2024. We were also able to secure Youth Investment Funding to pay salaries for our existing activities co- ordinator and activity instructors. This will continue until December 2025. Our Development worker delivered a very successful Goodwin Cottage Open event, bringing in young people to experience activities, and inviting key partners and supporters from the community to celebrate the opening of the renovated building. The day was a great success. Future artivities Throughout 2024 we worked on the National Youth Agency development plan forourwork with young people. This involved our Development worker achieving a Level 2 award in youth work and working with local Guide and Scout Groups to deliver a 'Whiteley Woods takeover, event to capture vital feedback from young people on our site.
OAC Buildings Directors, report (incorporating the Trustees, annual report) (continued) for the year ended 31 December 2024 Future artivities (continued) Ongoing work to maintain and improve the site continues. An unexpected ftood in June 2024 resulted in one of our toilet/shower blocks being out of action for the remainder of the year and into 2025. Working with our insurers, and despite numerous delays, the block should be back up and running in mid 2025. We have engaged with Northern Powergrid to secure our electricity supply and rebalance it across the site. We are waiting for confirmation for the work to start. Following a grant from Girlguiding Sheffield in December 2024 we are working to ensure that our Grade 2 listed Orchard wall is safe through detailed site reports and ongoing work. All of this work will require additional funds, and we will look to meet this through applications to grants and fundraising activity. The future aims and activities of the Charity will not change and the Management Committee is confident that there are sufficient reserves to operate for the next 12 months as demonstrated by cash flow forecasts produced and updated at each management meeting held every 4-6 weeks. Risks and Opportunities The trustees feel there are no significant risks to the charity at this time. The closure of the Guiding Activity Centres in December 2023 and the subsequent closure of Kingswood sites have only strengthened our position, giving us access to new customers that previously visited other sites. We have already seen an increase in visitors that previously frequented Glenbrook, a Girlguiding site in Hope Valley. We are also looking to actively promote the site to schools, which will fill capacity we have previous unutilised during weekdays. Financial review and reserves policy The financial result for the year was net income of £469,18012023 net income of £37,218). The net income was mainly due to the capital grant funding from the Youth Investment Fund. The assets purchased with this fund have been capitalised and depreciation will be charged over the useful life of the asset. As a result of the Youth Investment Fund the charity qualifies as a larger charity in 2024 but will return to small charity Status in 2025. The Trustees are aware of the additional responsibilities facing them being recognised as a large charity for these next few months. We are not able to offer grants to third parties and therefore will not have a policy for grant making. We will however be looking to formulate a policy on social investment. The trustees have reviewed the bank balances with regard to the large amounts of income coming from the Youth Investment Fund and the resee5 we hold and took the decision to move a significant amount into a twelve month fixed higher interest account, this was undertaken early 2025. It is not felt that we have significant surplus funds that we can look to invest these funds elsewhere without exposing ourselves to risk. We continued to monitor the VAT position, and registered for VAT in August 25. The level of resee5 is reviewed annually. The reserves policy is that reserves should be held which are equal to approximately 12 months, expenditure, retaining this amount should coverthe continuing costs and any unexpected large repair bills. The target reserves has been calculated to be £120,000. At 31 December 2024 the unrestricted free reserles held were £135,151 {2023: £133,378).
OAC Buildings Directors, report (incorporating the Trustees, annual report) (continued) for the year ended 31 December 2024 Trustees, responsibilities in relation to the financial statements The charity trustees are responsible for preparing a Directors, report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fairview of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently- Observe the methods and principles in the applicable Charities SORP- Make judgements and estimates that are reasonable and prudent- State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities {Accounts and Reports} Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the trustees on 26 September 2025 and signed on their behalf by: Name: J Sleaford Trustee
Independent Examinerfs report to the trustees of OAC Buildings ("the Charitv) I report to the trustees of OAC Buildings on my examination of the accounts of the Charity for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the ACVI. I report in respect of my examination of the Chariws accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151(b) of the Act. Independent examinerfs statement Since the Charity'sgross income exceeded £250,OOOyourexaminer must be a member of a body listed in section 145 of the 2011 Act. I confirm l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material 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 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 Signed: Susan Cochrane, FCA, DChA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH 01 Oct 2025 Date:
OAC Buildings Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2024 Unrestrirted Restricted funds funds 2024 Unrestricted Restricted Total funds funds 2023 Total Notes Income from: Grants and donations lexcluding the capital project) Grants and donations Icapital project) Charitable activities Investments - bank interest Raising funds - Shop sales Fundraising activities Profit on disposal of fixed assets 89 61.366 61.455 7,509 23.336 30.845 517.673 517.673 42.000 42.000 116.472 2.632 7.116 116.472 2.632 7.116 32 106,753 1,395 6,502 1,247 500 106,753 1,395 6,502 1,247 500 32 126,309 579,071 705,380 123,906 65,336 189,242 Expenditure from: Charitable activities Raising funds - shop expenditure Fundraising activities 181.503 3.916 50,781 232.284 3.916 122,854 3,196 25,974 148,828 3.196 185,419 50.781 236.200 126,050 25,974 152.024 Net income/lexpenditure) {59.1101 528,290 469.180 {2.1441 39,362 37.218 Transfers between funds 13 579.828 1579.8281 183,973 1183.9731 Total funds brought forward 317.588 70.117 387.705 135.759 214,728 350.487 Total funds carried forward 838,306 18,579 856,885 317,588 70,117 387,705
OAC Buildings Balance Sheet As at 31 December 2024 2024 2023 Notes Fixed assets Tangible assets 703,155 239.907 Current Assets Stocks Balance at bank and cash Debtors Total current assets 2,145 170,368 4,496 177,009 2.345 149,373 8,010 159.728 io Creditors.. amounts falling due within one year li 123,2791 111.9301 Net current assets 153,730 147,798 Net assets 856,885 387.705 Creditors.. amounts falling due after one year Total net assets 856,885 387,705 The funds of the charity: Unrestricted fund5 Restricted funds 838,306 18,579 317,588 70,117 13 Total charity funds Is 856,885 387,705 Approved by the trustees on 2610912025 Signed on behalf of the trustees by: J Sleaford Trustee
OAC Buildings Statement of cashflow As at 31 December 2024 2024 2023 Notes Cash flows from operating activities Net cash provided by/{used inl operating activities 17 545,213 49.417 Cash flows from investing artivities Purchase of fixed assets 1524.2181 155.6971 Change in cash and cash equivalents 20,995 16.2801 Cash and cash equivalents at the beginning of the year 149,373 155.653 Cash and cash equivalents at the end of the year 170,368 149,373
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 Accounting policies lal Basis of preparation OAC Buildings is a charitable incorporated organisation. In the event that the charity is wound up, the liability in respert of the guarantee is limited to £1 per member of the chartty- The add$5 of the registe office is given in the charity information on page l of these financial statements. The financial statements have been prepared in accordance with the Statement of Recommended Prartice.. Accounting and Reporting by Charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (second edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021 and with the Charities Act 2011. The financial statements have taken advantage of the exemption to prepare a Statement of Cash Flows OAC Buildings meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to the accounts. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £. Ibl Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it 15 probable that the income will be received and the amount can be measured reliably. Fees and other charges are recognised in the year in which they are earned. Interest on funds held on deposvt is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notification of the interest paid or payable by the bank. Icl Expenditure and liabilities Expenditure is recognised once there is a Idl Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposit5, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. lel Trade debtors Trade debtors are amounts due from customers for merchandise sold or servi5 performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effertive interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objertive evidence that the company will not be able to collert all amounts due according to the original terms of the receivables. If) Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date. they are presented as non-current liabilities. Trade creditors are recogni5ed initially at the transaction price and subsequently measured at amort15ed cost using the effective interest method. Igl Fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. as follows= Buildings over 87 years Outdoor shelter units 25% straight line Fixtures and fittings 25% straight line Equipment 25% Straight line The capital project is accounted for at cost Ibased on the value of architects, certificates and other direct costs incurred in the yearl. The capitalised project costs will be depreciated from the accounting period in which the project is completed over the 10 year term of the lease. io
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 (continued) Ihl Funds Unrestricted funds are expendable at the discretion of the trustees in furtherance of the charity'5 objectives. Restricted funds are subjert to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. lil Pension obligations The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. til Taxation As a charity, OAC Buildings is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity- 2 Grants and donations (excluding the capital projertl Unrestricted Restricted funds funds 2024 Unrestricted Total funds Restricted funds 2023 Total Donations GrantS- Co-op Community Fund The Freshgate Foundation Church Burgesses Educational Foundation J G Graves Charitable Trust South Yorkshire Community Foundation Henry Boot Community Fund Sheffield City Council Sheff ield Town Trust Social Investment Business- YIF revenue fund 89 7.874 7.963 7.509 1,419 8,928 2,379 3,000 2,379 3,000 4.0 3,(M)O 5.(XJO 250 4.000 3.000 5,000 250 2.666 2.666 2,000 14,538 2,000 14,538 38.576 38,576 89 61.366 61,455 7.509 23.336 30,845 Grants and donations {capital project} Unrestrirted Restrirted funds funds 2024 Unrestricted Total funds Restricted funds 2023 Total Social Investment Business- YIF capital fund 517.673 517,673 42,000 42,000 517,673 517,673 42,000 42,000 Income from charitable activities Unrestricted Restrirted funds funds 2024 Unrestritted Total funds Restricted funds 2023 Total Site fees- Renwick Site fees- Plimsoll Site fees - Goodwin Cottage Camping fee5- Unequipped sltes Day visits Other rooms and fees Activity and other charges 27.169 18.137 1.645 12,916 8,482 21.928 26.195 27,169 18,137 1.645 12.916 8,482 21,928 26.195 27,078 18,661 27,078 18,661 8,330 12,522 19,573 20.589 8,330 12,522 19,573 20,589 116.472 116.472 106,753 106,753 li
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 (continued) Expenditure on charitable activities Unrestricted Restricted funds fvnds 2024 Unrestricted Total funds Restricted funds 2023 Total Note Rent and rates Heat, light, water and waste collection Repairs and maintenance Insurance Equipment Cleaning Depreciation Wages Advertising Administration Telephone Sundries Support costs 16,459 33,635 14.427 15.213 6,513 3,627 60,970 25.350 549 604 1.496 750 1,910 16.459 33,635 25,958 15.213 17,314 3,627 60,970 50.189 549 604 1,496 1.878 4,392 16,150 17,619 28,438 12.297 4,213 3,028 10,083 25.513 564 261 1,559 121 3,008 16,150 17,619 39,328 12,297 5,386 3,028 10,083 39,424 564 261 1,559 121 3,008 11.531 10,890 10,801 1,173 24.839 13,911 1.128 2,482 181,503 50,781 232,284 122,854 25,974 148,828 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel 2024 Total 2023 Total Wages and salaries Employer's national insurance contributions Employer's allowance Employer's pension contribution 49,368 1,536 11,5361 821 39,104 1,279 11,2791 320 50,189 39,424 The average number of employees during the period was 812023= 71. There was a mixture of part and full time staff No trustees received any reimbursed expenses during the year12023= £nill. No charity trustee received payment for professional or other services supplied to the chartty12023.. £nill. 12
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 (continued) Support costs Unrestrirted Restrirted funds funds 2024 Unrestritted Total funds Restricted funds 2023 Total Independent examination fees Professional fees 1.910 1,910 2,482 1,020 1,988 1,020 1,988 2.482 1,910 2,482 4,392 3,008 3,008 Tangible assets- combined Outdoor shelter units Fixtures and rittings Renwick Building Capital Project Equipment Total Cost At l January 2024 Additions At 31 December 2024 235,249 59,229 523,620 582.849 18,321 62,328 375,127 524,218 899,345 598 235.249 18.321 62.328 598 Depreciation At l January 2024 Depreciation charge At 31 December 2024 54,090 2.704 56,794 18,321 62,328 135,220 60,970 196,190 58.266 58,747 18,321 62,328 Net book value At 31 December2024 178.455 524,102 598 703,155 At 31 December 2023 181.159 58.748 239,907 The capital project is being funded primarily by the Youth Investment Fund. 9 Stocks 2024 2023 Shop stock 2,145 2,345 10 Deblors and accrued income 2024 2023 Site fees Prepayments 2,673 1,823 3,071 4,939 4,496 8,010 11 Creditors: amounts falling due within one year 2024 2023 Note Other creditor5 Accruals Deferred income 6,171 6,738 10,370 2,031 1,694 8,205 12 23.279 11,930 13
OAC BuildinRs Notes to the financial statements For the year ended 310ecember 2024 (continued) 12 Deferred income 2024 2023 Deferred income brought forward Income released 8,205 18,2051 10,370 6,400 16,4001 8205 Income deferred 10,370 8,205 Deferred income related to deposits received for bookings of the centre which will take place in the next financial year. 13 Analysis of movements in restricted funds Brought forward Carried fonvard Income Expenditure Transfers Curriculum Development Fund Goodwin Cottage Renovation Roof appeal Future Proof the Centre OAC Friends Activity and other Equipment Orchard Wall Youth Investment Fund - Capital Youth Investment Fund - Revenue 4,000 8,000 4,000 175 10,837 5,182 198 568 4,518 16,3161 15831 18,579 7,825 110,8991 13821 18981 12,3481 12,4821 21.736 5,508 246 56 850 2,916 7.000 517.673 38,576 579,071 32,500 10,127 70,117 1556,4891 123,3391 1579,8281 125,9471 150,7811 Curriculum Development Fund Funding to develop affordable Outdoor Education and Attivity provision for Sheffield schools and other youth organisations in the city, so more young people can access and experience the positive benefits of spending time at our site. Goodwin Cottage Renovation Funding received to support the costs necessary in making Goodwin Cottage ready for bookings Roof appeal The roof appeal fund represents donations received towards repair and improvement work on the roof of the centre. Future Proof the Centre To support the ongoing programme of repairs and maintenance continuing the commitment to preserving our historic building and improve our green spaces. OAC Friends Funding received from OAC friends for specific expenditure including climbing equipment Artivity and other Equipment Funding received to purchase equipment for the centre. Orchard Wall Funding received from Girl Guiding Sheffield to support the expert investigations and report into the ongoing maintenance needed on the Orchard Wall. Youth Investment Fund- Capital Funding to refurbish and adapt a derelirt 300 year old grade11 listed cottage and convert to a residential building for groups to use and also refurbish the remainder of the building. The income is received in arrears from the funder. As the funding was received to fund the capital project, but the use of the buildings is not restricted beyond the wider charitsble objectives, a transfer has been made to general funds. Youth Investment Fund- Revenue The revenue grant was received alongside the funding towards the capital project. to cover personnel and other administration costs. The income is received in arrears from the funder. As the funding was received to fund the capital items, but the use of the assets is not restricted beyond the wider charitable objectives. a transfer has been made to general funds. 14
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 (continued) Anuly515 of movements in restrictedfunds- previous year Brought forword Corried forward Income Expenditure Tronsfers Buildingsfund Sheffield Town Trust Roof oppeal Future Proof the Centre OAC Friends Youth Investment Fund- Capitol Youth Investment Fund- Revenue 183,863 iio 22,247 8,508 (183,863) (iio) {511J (10,379J (1.173J 21,736 5,508 246 32,500 10,127 7.379 1,419 42.000 14,538 (9.500) 9,500 (13,911) 214,728 65,336 (25,974) (183,973J 70,117 14 Capital project- capital commitments Capital commitments towards the capital project at the year end were £2,38512023: £538,960). 15 Analysis of net assets between fvnds Unrestricted funds Restricted funds 2024 Total Fixed assets Net current assets 703.155 135,151 703,155 153,730 18,579 838,306 18,579 856,885 AnGIysAS of net ossets betweenfunds- previous yeor Unrestricted funds Restricted funds 2023 Total Fixed assets Net current QSsetS 184.210 133,378 55,697 14,420 239,907 147,798 317,588 70,117 387,705 16 Related party transactions The following are related parties as the organisations have one or more of the same trustees.. 2024 Total 2023 Total The Guide Association- Sheffield County The following income was received: Donations 7,000 7,000 The following expenditure was made= Rent payable 14.000 14.000 15
OAC Buildings Notes to the financial statements For the year ended 310ecember 2024 (continued) 17 Reconciliation of net expenditure to net cash flow from operating artivities 2024 Total 2023 Total Net income/lexpenditurel for the year las per the SOFA) 469,180 37,218 Adjustments for.. Ilncrea5el/decrease in debtors Increaselldecreasel in creditors Ilncreasel/decrease in stock Depreciation 3,514 11,349 200 60,970 11,3161 3,561 11291 10,083 Net cash provided byllused inl operating artivtties 545.213 49.417 16