BLACKBURNE HOUSE {Company Llmlted by Guarantee) TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 July 2024 Company Reglstratlon Number 2674432 Charlty Number 1010546 *AE2QPXVF* 1610512025 COMPANIES HOUSE A20 #52 BLACKBURNE HOUSE Financial Statements Year ended 31 July 2024 Contents Pale Members of the eoard and Professional Advisors Trustees, Annual Report Independent Auditorfs Report 16 Statement of Financial Activities 21 Comparatlve Statement of Financial Activities 22 Summary Income and Expenditure Account 23 Balante Sheet 24 Statement ofcash Flows 25 Notes to the Financial Statements 26 BLACKBURNE HOUSE Members of the Board and Professional Advisors Year ended 31 July 2024 Reilstered Charity Name Blackburne House Company Number 2674432 Charity Number 1010546 The Board of Trustees Liz Cross (Chair) Sally-Anne Watkiss Annette Henne55V Claire Dixon (resigned 25103124} Nina Roberts Humaira Khan Ngunan Adamu Iresigned 201121241 Lynda Brady Company Secretary Jennifer Lawso Chlef ExecutSve Andrea Rushton Reglstered Offlce Blackburne House Blackburne Place Off Hope Street Liverpool L8 7PE Statutory Audltor Mitchell Charlesworth (Audit) Limited Accountants Re8lStered Audltor Suites C, D, E & F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ 8ankers National Westminster Bank PIC 2 - 8 Church Street Llverpool LI 38G Solicitors MS8 Solicitors Ltd Silkhouse Court Tithebarn Street Liverpool L2 2LZ BLACKBURNE HOUSE Tru5tees' Annual Report Year ended 31 July 2024 The trustees. who are also directors for the purposes of the Companies Act, present their annual report and the audited rinancial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reportin8 by Charities" IFR51021 in preparing the annual report and financial statements of the charity. The flnancial statements have been prepared in accordance with the accountlng policies set out in note I to the financial statements and complywith the Charitv'sgoverningdocument. the Companies Act 2006 and"Ac¢ountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts In accordance with the Financial ReportSn8 Slandèrd applicable in the United Kingdom and Republic of Ireland published October 2019" Trustees The trustees who served the charity during the period were as follows: Liz Cross (Chalrl Kate Fox Sally-Anne Watkiss Lynda Brady Annette Hennessy Humalra Khèn Claire Dixon (resigned 231031241 Nlna Roberts Ngunan Adamu Ire5iBned 20112120241 Trustees are appointed in accordance with the Memorandum and Articles of Association. None of the trustees receive remuneration or other benefits for their work as trustees of the charity. Any connection between a trustee or Senior manager of the charity with a company must be disclosed to the full Board of Trustees in the same way as any contractual relationship with a related party. Objertlves of the Charlty The charlty's objects and Its principal actlvity continue to be to advance educatlon and to relieve need by provldlng or assistln8 In the provision of vocatlonal tralning for women and by provSdln8 guldance for such of them, as are In need. calculated to enable them to earn thelr own Ilving. To promote any charitable purpose and in particular charitable purposes directed to the advancement of women's education and the provision of training facilities for women. Public 8eneflt When planning our activities for the yeaT, the tru5tee5 have considered the Charity Commission'5 guidance on public benefit and in particular the specific guidance on charities with other purposes currently reco8nised as charitable and any new charitable purpose5 which are similar to other charitable purposes. We are an equal opportunities organisation and are committed to a working environment that is free from any form of discrimination on the grounds of race, ethnlcity, sexual orientation, or di5abilitv, It is a priority of the organisation that access to our services Is not restricted to those who can afford our fees. Our concessionary fee policy contributes to the widening of access to the courses we offer and the facilities we provide. The trustees have had due regard to the 8uidance published by the Charity Commi55ion on public benefit and in. particular the supplementary guidance on public benefit and fee charging. BLACKBURNE HOUSE Trustee5' Annual Report Iconilnuedl Year ended 31 July 2024 About Blackburne House Blackburne House, the sister company of Women's Technolo8y Training Limited (known as Blackburne House Education), was founded to advance women from disadvantaged backgrounds into technical professions flelds where women were significantly underrepresented in 1983, when the organisation was established. For nearly four decades. Blackburne House ha5 remained a beacon of opportunity and empowerment for women. dedicated to providing holistic education and support structures. Strateglc Report The organisation grew rapidly and, in 1991, moved into its iconic premises in Liverpool's Georgian Quarter. Over £4 million was raised to restore and revitalise Blackburne House. a beautiful Grade 11-listed building that was once home to the first Girls, School in England. This remarkable building now serve5 as the vibrant hub of Blackburne House's activities. After over 30 years of service, 8lackburne House recelved local, national, and international recognition for its pioneerin8 work in education and support for women. In June 2015, the or8ani5ation was awarded Freedom of the City of LSverpool, recognisin8 Its transformative contributions to education for women across the region and beyond. Today, Blackburne House Education is thriving. Through 81ackburne House, a diverse range of successful social enterprises has been established, each supportin8 the organisation's educational goals while providing tangible examples of how innovative solutions can address the needs of local communities. These enterprises not only generate income but also offer real-life work experience for learners, creating employment opportunities and fosterin8 social impact. Our facilities attract thousands of visltors annually and now include a bistro, café. wellness and counsellin8 centre, conference and events facilities. a 36-place nursery, and a robust portfolio of projects. Blackburne House'5 activities are firmly rooted in its social purpose, ensuring that everything we do contribute5 to delivering exceptional educational and economic opportunities for women. Feedback from learners and customers highli8hts the value of our wraparound educational opportunities, which empower women to access higher education and meaningful employment. Many of our1earners become role models for their families and communitie5. Blackburne House remains integral to the economic empowerment of women, ensuring far-reachin8 social impact through its services. Our Vlslon and Values Our vision is to educate and upskill women so that they can pursue professions in every sector and at every level, to give confidence to the women we work with, so that they can go on to live independent lives, believe in their dreams and achieve their ambitions. We want to inspire our women to believe that anythin8 is possible, to instil a culture of empathy and understanding,. of inclusion and acceptance and to overcome racism. prejudice, discrimination. and adversity. creating a positive and holistic environment where women can share, learn, and grow. Our social enterprises provide an enterprising approach to teaching and learning. Enterprise encourages people to learn and develop in a way that meets their need5 and develops skills for learning. 5ki115 for life and ski115 for work. The world is changing rapidly, and people need to be prepared. They need to have the 5ki115 and attitudes to cope with an unpredictable future, to be able to deal with setbacks and disappointments in a positive way and to continue to learn for the rest of their lives. Whenever possible, we utili5e the resources acro55 the whole of Blackburne House to provide our learners with real life opportunities to enhance their development and support them to become more influential in their own lives and that of others. We have a core set of values that are embedded into everything that we do. Those values are integral to our organisation, helping to define our long-term aims and objectives and influence the way we work. BLACKBURNE HOUSE Trustees, Annual Report ICoThtinuedl Year ended 31 July 2024 Inspiration We provide the highest possible quality of inspirational education and development - and our teaching and workin8 methods and our services and environment reflect thi5 relentless commitment. Transformatlon We believe in using creative working methods to develop new and Innovative ways of fulfilling and exceedlng our financial, social, and environmental aims renewing and transforming our busine55 and helpin8 US to touch and transform the lives of everyone who works with Blackburne House. Equality 81ackburne House is and has always been about holistic approaches to improving the lives of women - all women. We constantly build on the diversity and range of our seprfices including SUPPOrt and education services for children and men, where these will contribute to improving the lives of women. Independence As well as helping our students and servlce users to develop their own Independence, our charitable and commercial activities all operate to continuously improving business standards - to deliver the independence of Blackburne House. Artlvltles, achievernents, and performance The principal activity of Blackburne House is to provide sUPPOrt structures to its sister organisation, Blackburne House Education. Blackburne House has a range of social business area5, and each business area is driven by our values. In addition to this, our project portfolio provides unique and bespoke wrap around services to enhance wellness and learnlng opportunities. A summary of the performance of each of these buslnesses is 8iven below.. Tho 81stro The 81ackburne House 8istro has a core mi55ion: to provide value.for-money, nutritious meals in a relaxed and welcoming environment for students. staff, conference attendees, and a diverse range of customers. As a bistro guided by social values. we actively champion our 'Buy Social, agenda, deliverin8 Posltive impact every day. Our efforts extend beyond servin8 meals and contribute meaningfully to the community in the fpllowing ways: Healthy, Nutritious Mea15.' We prepare hi8h-quality, affordable meals from scratch every day, ensurin8 they are both healthy and delicious. Support for Staff and Students.. Subsidised meals are offered to ensure that no staff member or student goe5 hun8ry, helping them stay nourished and achieve their personal and professional best. Local and Sustainable Sourcing.. Over 90% of our fresh produce is sourced from local suppliers and social enterprises, SUPPOrting Liverpool's local ecoDomv. Émployment Opportunities: We create good-quality jobs with fair wages, prioritisin8 employment and training opportunities for women who are furthest from the labour market. Inclusive Volvnteering.. Volunteer and employment opportunities are provided for people with learning difficulties and disabilities. promotlng inclusivity and empowerment. Sustainability-. We use fair trade products and ensure all disposable items are biodegradable, ali8ning with our ènvironmental commitments. We are passlonate about the quality of our food, the service we provide. and the positive impact we create within our community. Every action we take whether supporting education, promoting sustainability, or empowering individuals makes a meaningful difference. Our bistro serves as a model for how social values and business goals can coexist to create long-lastin8 chan8e. BLACKBURNE HOUSE Trustees, Annual Report Icontlnuedl Year ended 31 July 2024 The Café @ Clatterbrtdge In partnership with Liverpool Clatterbridge Cancer Hospital, we successfully launched the Café @ Clatterbridge to provide healthy. nutritious meals for patient5, Staff, and visitors. This initiative aligns with our commitment to promotin8 health and wellbeing while also supporting Blackburne House's charitable objectives. The hospital trust specifically sought to partner with a provider rooted in the Liverpool community one that prioritises local staff and suppliers. This collaboration allowed us to expand our catering portfolio and strengthen our local supplv chain, enhancinB our contribution to the regional economv. The Café @ Clatterbridge ha5 provided an opportunity for growth and economies of scale within our Catering Portfolio. 8y operating another outlet, we have increased our h05Pltality turnover, supporting the future growth and sustainability of Blackburne House. This project is a vital part of our long-term strategy, ensuring we continue to deliver both economic and social value across the Liverpool communitv. Conlerence and Event$ 81ackburne House offers a variety of flexible rooms and spaces to host conferences, events, private functions, exhibitions, and development activities. We pridé ou15elves on being able to offer a welcoming conferencing and events service within a magnificent Grade11 listed building. Dating back to 1744, Blackburne House retains its origlnal charm and style offering a venue with a difference. The very nature and versatility of the building enabled Blackburne House to navigate 2024 Conferencing and Events industry trends which saw event's or8ani5er5 wanting smaller sized rooms and event delegates wantin8 events spaces with casual atmosphere, quality food and drink as well as space for networking and break out rooms. As people started to experience virtual fatigue, we saw an increase in demand for room hire along with equipment to support hybrid events. The ability to host hybrld events is predicted to be an industry trend in 2024 and one which 81ackburne House must be able to rneet if it is to remain competltive in the marketplace. This year we have continued to work with the Visit Hope Street CIC stakeholder 8roup and remain a BID Levy Payer as the Hope Street area becomes a Bl D (Business Improvement Districtl which 15 a designate zone (BID Areal which w511 benefit from a wide range of additional services over and above those funded through the standard commercial rates and council services. Next year. Conferencing & Events Industry trends are expected to focus upon.. Sustalnabllity. with customers choosing venues with a more environmentally friendly footprint. Soclal Responsibility. As a social enterprise, Blackburne House rnust be bold in how promotes its purpose, social impact, and unique value proposltion. Accessibility & Incluslon considerations to ensure that we make people feel welcome. valued, and included. As an organisation Blackburne House must consider a spectrum of solution5 such as the use of Quiet Rooms. accessible room layout5. and appropriate audio-visual equipment. The use of technology and how it can enhance both user and events booking and planning experiences. Wellbeing meaning that the Wellness Centre can provide tailored offer5 to Conference and Events customers. Nursery Our 36-place nursery. from babies to S-year-olds. provides high quality and innovative childcare that enhances the opportunities and lives of children, parents and families locally. We continue to be a key support structure for our students and the wider comrnunity by offering affordable and attainable childcare. We provide early learning interventions for funded 2. 3- and 4-year-olds to ensure they have the opportunity to access a childcare environment and support their development to become school ready. We continue to offer the 8overnment 30 hours funded places for 3- and 4-year-olds, tax free childcare. in addition to 15 hours funded places for 2-year-olds. BLACKBURNE HOUSE Trustees, Annual Report Icontlnuedl Year ended 31 July 2024 Nursery Icontlnuedl At our last Ofsted inspection was Jan 23, we were rated Good. The inspectors commended our staff and how they use their qualifications, knowledge, and skllls to assess children's progress and to plan activities that reflect children's sta8es of development and interests. We have now extended learnlng from indoors to our new outdoor sensory provlsion which offers children who do not have access to outdoors the opportunity to do so in a safe and controlled environment. We pride ourselves on providing a diverse and rich multicultural environment where our children come from as manv dlfferent nationalities. All our direct childcare staff are qualified to Level 3 or more and one member of staff ha5 a degree in Early Years & childhood studies. 8y workin8 in close partnership with parents and carers we ensure all the child's needs are met and supported. We use a software app called Famly in which we share observations. photographs, a live news feed for up-to-date information nd any free advice. support or training for parent. carers or for extended family members who may not live in the same country. As a charitable social enterprise, we glve our children and local families the best posslble1Sfe chances bv: Offering subsldlsed chlldcare for our students and providin8 free meals where food poverty impacts a child's ability to learn and develop. Catering for children's dietary requirements or sensory needs. Delivering a hollstlc approach to parental and carer advice and support, 8uidin8 them through complexlssues and concerns. Empowerin8 mum's to 80 back Into work. Providin8 more flexlble. short term funded places to support parents and carers in need of respite. Delivering children's workshops to develop new experiences and skills e.g., 5pan15h Lessons. Supporting children with special educational needs, which irycluded Speech and language therapy, behaviour and sen50ry SUPPOrt. We retain SEND chlldren when mainstream school place5 are deferred when not conducive to their individual needs or if no places at speclallst provision are available. This provides consSstency and routine for the children and familv. Providing free nursery education places for two. three & 4-year-olds from the most disadvanta8ed families. Events celebratin8 parents and carers with their children. Holding our 5-year-old graduation ceremonies to celebrate the children's development and school readiness. Many of our children experience Speclal Educational Needs & Oisabilities ISENDI. Wellness and Coun5elling Centre Formerly known as The Health Place. our on-site space has been re-positioned and repurposed to become a dedicated Wellness and Counselling Centre. There remains significant mental health decline amongst women and 50 we responded to this through accessing funding support for wellness and coun5elling services. building on the program of counsellin8 interventions and wellness services we had begun at the start of the pandemic and scaling up the level of services we offer to meet the Increasing demand. We are currently providing both a funded and commercial offer for individuals and organisations. For thls perlod, we have 5UPPOrted 836 women with our funded counselling and wellness interventions. We have recruited a team of Counsellors all who are 8eneralist5 and have knowledge and experience in area5 such a5 domestic abuse. trauma and anxiety and our funders have recognised the vital role our services have played in the lives of women in our community. Developin8 1-2-1 and group services delivered by counsellors and wellne55 practitioners. The more recent service developments Include support for women who experience menopause and long covid. BLACKBURNE HOUSE Trustees, Annual Report Icontinuèdl Year ended 31 July 2024 Wellness and Coun5elllng Centre Icontinuedl A further development is via our 'Education Through Enterprise, model, by linking education more closely to the commercial enterprise. We continue to provide Level 4 student counsellors who require Ioohrs clinical practice a placement with supervision to gain their full qualification. We have recognized that there is a lack of diversity within the counsellor base. $0 we have recruited 50% of the learners from Black, Asian and Minority Ethnic back8rounds. Th15 allows us to reach more wornen in need of mental health sUPPQrt whilst enabling student counsellors to qualify and become economically active. Our soclal accounts show that our Social returrn on investment for all activities are £1.. £51.96. We have developed the Wellness and Counselling Centre to become part of the cole services of Blackburne House. making a significant social impact and becoming a vital part of our broader portfolio. Safeguardlng We are committed to safeguarding and promoting the welfare of our students and expect all of our staff, trustees and volunteers to share this commitment. Safe8uardin8 of children, young people and vulnerable adults continue to be important to the organisation, and we take seriously our duty to comply with the Safeguarding Vulnerable Groups Act 2006, Education Act 2002 and Counterterrorism and Security Act 2015 and The Board of Trustees and staff have undertaken training in this area and continually revlew our performance and ability to adapt and respond. Our Board and the Education & Quality Committee closely monitor our policies and procedures and the organisation has an appointed a Board Safe8uardin8 Lead, a Oeslgnated Safeguarding Officer and three four Safeguardin8 Officers. We have continued to update our safeguarding policies and action plan in line with our activities. Projeet$ and Buslness Development Developing and maintainin8 contract5 IS vital to achieving our Strategic aims and ensurin8 the long.term sustalnabllltv of Blackburne House. As a Charity and social enterprise operating in a Grade 11-listed building, the revenue generated through contract5, projects, and grant funding is critical. This funding not only contributes to core costs but also enables us to deliver significant social impact to our recipients, partners, and the wider community. During this period, we have successfully maintained and developed contracts and partnerships, including: Clatterbridge Catering Contract Supporting our expansion into the healthcare sector, providing quality catering services to staff, patients. and visitors. Liverpool Women's Hospital Catering Offer Developing an enhanced catering service that aligns with our mission to support health, wellbeing. and sustainability. Our Strate8lc Arenas To enrich our portfolio and ensure alignment with our values and strategic objectives, we continue to innovate, deliver or develop impactful programs across the following areas.. Health & Wellbein8.' Focused on supporting women and families through programs addressing female health. mental health, loneliness. social isolation, and resilience-building. Environmental & Cultural.. o Programs with p051tive environmental outcomes, including contribution5 to the green economy, local biodiversity, and mitigating the effects of climate change. Initiative5 that preserve and celebrate cultural heritage, promote inclusion and equality. and maintain the integrity of our historical asset and archives. Education & Employment.. Providing access to career support, personal developrnent, lifestyle courses, and non-accredited programs to help learners enhance their skills and life opportunities. BLACKBURNE HOUSE Trustees, Annual Report Iconllnutdl Year ended 31 July 2024 Our Strategic Arenas IC••rtlnuedl Business Development.. Deliverin8 training and support in entrepreneurship, leader5hlp, coaching and mentoring, and busine55 Start- up and scale.up. These pro8rams are desi8ned to empower individuals and businesses to achleve success and growth. Commitment to Innovation and Impact Blackburne House rema￿n$ committed to Innovating and expanding our servlces to meet the evolving needs of our community and partners. Through our strategic projects and business development efforts, we are creating opportunities for sustainability. resilience, and meaningful change. Our plans for the future 81ackburne House boasts a diverse portfollo of businesses and projects that align with our core values of advancin8 educatlon and vocational trainln8 for women. Our strength lies In our dlverslty, which enables US to capitalise on variety of assets and opportunities to reach our full potential. This approach ensures that we remaln Innovative and adaptable while meetin8 the evolvin8 need5 of our community. Through the development of new strategic partnerships. we aim to deliver impactful and bespoke support to women, familie5, and the 81ack, Asian, and Minority Ethnic18AMEI community. These partnership5 will enhance the reach and effectivene55 of our services while strengthening our trading and contracted activitie5. ensuring they are both sustainable and scalable to create significant social and economic impact. Key Areas of Focus Wellness and Counsellln8 Centre o We will continue to seek funding to rnaintain and grow our Wellness and Counsellin8 Centre. establishing it as a core service provision within Blackburne House. Our focus will be on expanding wellness services to support mental health, tackle inequalities, and provide a welcoming space for on- site counselling services and wellness activities. The centre will support over 1,000 women annually through both grant-funded and paid-for services, helping combat mental health challenge5 Wlthin the local community. Alongside Blackburne House Education. we will ensure learners have access to mental health counsellin8 services to remove obstacles to learnlng, In addition, the Wellness Centre will provide placements for newly quallfied Level 4 counsellors, helpin8 to increase the number of qualifled and diverse professionals in Llverpool to meet the growing demand for mental health services. By delivering a wider counselling curriculum, 81ackburne House Education will provide pathways to employment. particularly for BAME learners, enabling service users to receive culturally competent care. This unique offering has already delivered significant social impact and remains vital to our broader portfolio. Café @ Clatterbridge Cancer Centre Despite early challenges due to the pandemic, the cafe has flourished as visltor numbers have increased. Our offering of fresh, seasonal. and nutritious food has been well recelved by patients, staff. and visitors, with positive feedback from both customers and Trust mana8ement. o This partnership has created an additional platform to ralse Blackburne House's profile and promote our mission. We aim to replicate this successful social enterprise catering model at other suitable sites, ensuring continued 8rowth and sustainability for our catering division. Nursery Services We remain committed to delivering our essential Nursery services. which support families and learner5. We have applied for an expansion grant via Early Years to increase our capacity by an additional 16 places, ensuring we can continue to meet demand and support working families. BLACKBURNE HOUSE Trustees, Annual Report Icondnuedl Year ended 31 July 2024 Our plans for the future Icontlnuedl 4. Conference and Events We have identified conference and events a5 0 key growth area. By developin8 partnerships and hosting our own events, we aim to increase external bookings, 8enerate income. and raise the profile of Blackburne House. o Our historic, Grade 11-listed building offers a unique venue experience. complemented by catering from our award-winning social enterprise bistro. As organi5ations increasingly value Social responsibility, we are well-positioned to attract client5 Seeking venues with social impact. Projects Portfollo We plan to expand our projects portfolio, working closely with local stakeholders such as Visit Hope Street CIC to identify initiatives that position Blackburne House as one of Liverpool's most vital social enterprises. 6. Catering Olvlslon o Our Catering Division continues to grow, deliverin8 increased tradin8 levels while providing opportunities for employment and skill development. By offering subsidised meals for students and serving the local community, we strengthen our social mission while enhancing our reputation for quality food services across the city. Straleglc Direcilon The Board will continue to review and refine our plans to ensure we focus on mission-led, sustainable portfolios that align with our vision to empower women. Our proven track record, depth of expertise, and reputation in the local community Position us 5tron8ly to adapt to emer8in8 prSorities and bulld on our 5ucce55es. Wlth a blend of innovative servlces and a commitment to local need5, Blackburne House Is well-equipped to Strengthen its organisation and continue serving the women of Liverpool and the broader community for years to come. FSnan¢lal revlew 'The trustees, financial responslbilities include the solvency of the organisation. safeguardlng the asset5 of the organisation and approving the annual bud8et to set financial objective5, which are quantifiable targets against which we can measure achievement. To assist us in achievin8 these objectives monthly management accounts are produced and discussed at Executive Leadership Team meetings. A formal cycle of reporting of management accounts has been established and includes bi-monthly meetings with both the Finance. Audit & Risk Committee IFA&RCI and the trustees. The FA&RC continually reviews the reporting mechanisms in place to ensure risk management and financial plannin8 15 developed and enhances the opportunities of the organisation. The FA&RC, under powers delegated to it by the trustees, regulate and control the finances of the or8ani5ation. We have continued with the increased frequency of meetln8s and reporting to FA&RC to ensure that we managed and mitigated risks. Engaged the services of Adding Value to provide FD oversight and finance mana8ement Engaged more frequently with our bankers Natwest and Lenders. Enhanced cashflow management and reporting to review weekly along with extended forecasting. Instigated finance repayment holidays for loan and lease repayments. Acce55ed HMRC PAYEINI payment plans with HMRC. Successfully applied for siTPPOrt grants with strategic partners Our Financial Performance has significantly improved since 22123 and with broader opportunities via additional products and services, for instance, contracts 8ain through our Wellne55 Centre supportin8 core costs and economies of scale through Clatterbridge, We are reportin8 a net expenditure for the year of £259,336 in the year12023'. £72.564 net expenditure) which 15 stated after depreciation and endowment release costs of £70,856. 101 Page BLACKBURNE HOUSE Trustees, Annual Report ICvntln¥Èdl Year ended 31 July 2024 Financlal revlew (Contlnuedl We continue to review our strategic plans with our trading ability focusin8 on sustainability and mission. The financial projections for the remaining part of 2024125 have been prepared. considering the opportunities to strengthen our offer through strateglc partnerships. They reflect our ability to adapt to the landscape in a strong and pro8res5ive manner in support of our learner5 and community. The trustees are conf ident that we have an ongoing viable business model. and they remain optimistic about the future and our ability to navigate the short-term challenges and trade back up to sustainable levels in the longer term. Remuneration of key management personnel The trustees consider the Chlef Executlve and the Senior Management Team to be the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-t¢>day basis. It is the charity's policy to pay staff at rates reflectin8 the local market and in line with similar organisations. Reserves poli The organi5ation'$ reserve policy has been reviewed in line wlth guldance from the Charity Commission. It is the policy of the organisation to maintain unrestricted fund5, which are the free reserves of the organisation at a level, which equates to three months liquidlty requlrements. The tf Ustees have revlewed the value of reserves required and have set the desired value of the reserves at £300,000 to reflect current level of overheads as the business grows. Thls provides sufficient funds to cover management, administration, and support costs for the development of our principal activities to enable us to provlde a hlgh-quallty service to our stakeholders. The or8anisatlon has not been able to achleve a surplus this year to improve the reserves posltion but is committed to continual improvement to reverse the negative Te5erves in future years. The trustees recogni5e that our negatlve unrestricted reserves position reflects the fact that we are a tradin8 business rather than grant funded. We have invested our traded income into lobs, services, and strategic aim5 consistently over our many years in existence. responding to our communities needs and adapting to strengthen our social impact and services. The trustee5 continue to monitor the situation and have reviewed and agreed the strategy and priorities that ali8n to this objective as we move forward. Rlsk poll¢y The trustees are responsible for overseein8 the risks faced by the organisation. Detailed consideraiions of risks are delegated to the Senior Management Team. Risks are identified and controls established throughout the year. All significant activities undertaken are subject to a risk review. Systems have been established to rnitlgate the risks and the Senior Management Team regularly reviews the risks and takes any action identified. Investment powers and restrictions Underthe Memorandum and Artlcles ofAssoclation, the charityhas the power, to invest ordeposit funds in anymanner only after obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification. The trustees, haviD8 regard to the1Squldlty requirements of operating the charity and to the reserves polity, do not consider it necessary to invest in a portfolio of investments, but instead have operated a policy of keeping available funds in an interest-bearin8 deposit account and seek to achieve a rate of deposit interest which matches or emceeds inflation as measured by the retall price Index. Invested funds are held on deposit in a high interest savings account for use as and when necessary. 111 Page BLACKBURNE HOUSE Trustees, Annual Report IConilnued] Year ended 31 July 2024 Environmental policv The Board of Trustees and the Executive Leadership Team are fully committed to the principles of sustainable development and to achieving environmental best practices across all aspect5 of the organisation. We strive to inte8rate environmental management as a core busine55 function. recognising the need for leadership and collective responsibility to ensure that our activities align with these principles. As an organisation, we recognise the importance of a proactive approach to addressing environmental challenge5. This include5 efforts to prevent pollution. minlmise waste, reduce carbon emission5, and achieve continual improvements in our environmental performance. Our commitment extends to educating and engaging staff, learners. and 5takeholder5 in adopting sustainable practices and making informed decisions that contribute to environmental sustainability. In line with this commitment, Blackburne House operates a structured approach to the management of our environmental impact, ensuring compliance with, or exceeding, all relevant legal and regulatory requirements. We also seek to align with recognised best practices that address envSronmental aspects related to our operations. D•carbon15atlon InltlatSv•s12024125) A key component of our environmental policy is the decarbonisation of our Grade11-listed building, which will be a major focus throughout 2024125. As custodians of a historic building, we recognise the unique challenges and opportunities presented in ensuring it5 5UStainability for future 8enerations. The decarbonisation project will focus on., Conductin8 a comprehenslve energy audlt to identify key area5 for improvement in energy efficiency. Implementin8 energy.efficient systems, includin8 the potential Installatlon of renewable energy sources, such as solar panels and heat pumps, where feasible. Up813din8 insulation and reviewing heating. ventilatlon, and lighting systems to reduce energy consumption. Working with specialists to develop innovative, sustainable solutlons that respect the historlc integrlty of the buildin8 while $18nificantly reduclng Sts carbon footprint. This decarbonlsation effort aligns with both our organisational goals and wider local and national environmental targets, including the Liverpool City Region's ambition to achieve net-zero carbon emission5 by 2040. By undertaking this project, we aim to set a benchmark for other organisations housed in historic or listed properties, showcasing that sustainable innovation and heritage preservation can coexist effectively. Wider Environmental Commltments Our environmental priorities are further embedded into our organisational operations and include.. Sustainable Procurement Practices.. Working with supplier5 who share our commitment to sustainability and reducing the environmental impact of goods and services. Waste Management.. Implementin8 robust recycling initiatives and aimin8 for zero waste to landfill where possible. Education and Advocacy.. Incorporatin8 Sustainability education Into our curriculum to equip learners with the knowledge and skills needed to address global environmental challenges. Sustainable Transportation: Promoting the use of public transportation. car-sharing, and cycling for staff, learners, and visitors. By embedding environmental considerations into our operations, decision.making processes, and educational offerings, Blackburne House is committed to fostering a culture of sustainability. This approach reflects our dedication to improving the wellbeing of both our local community and the planet. ensuring that environmental best practices remain central to our mission. 121 Page BLACKBURNE HOUSE Trustees, Annual Report Icontinuèdl Year ended 31 July 2024 Strurture• governance and management Governlng document Blackburne House is a charltable company limlted by guarantee INO. 26744321, Incorporated in England on 30 December 1991 and registered as a charity INO. IOIOS461 on 15 April 1992. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. On windin8 up of the company each member will contribute £1. Oiganlsatlon Each of Blackburne House's buslness areas and social enterprises is strategically organlsed to support our learners while rinancially contributing to the or8anisation's sustainability and growth. These enterprises facilitate the development of resources that enable us to deliver on our mission to empower women through education, skills, and opportunity. The Board of Trustees oversees the governance and administration of the charity. Meeting bi-monthly. the Board is supported by dedicated sub-committees focused on Finance & Resources and Education & Quality. ensurin8 comprehensive oversight and accountability across all areas of the organisation. The trustees appoint a Chief Executive ICEOI to manage the day-to.day operations of the charity. Operating within the terms of delegation approved by the trustees, the CEO has authority over operational matters, including finance. and provides strategic leadership to ensure Blackburne House's policies, systems. products, and services are aligned with its mission. This includes drivin8 the organisation's social, environmental, and commercial objectives. The CEO leads business planning across all service areas, ensurin8 alignment with the organisation's strategic direction, local priorities, and values. By championing high performance and innovation. the CEO ensures the sustainabillty and lon8-term impact of Blackburne House and its group actlvities. Blackburne House operates a range of award-winning social enterprises that are values-driven and designed to generate positive social and environmental Impact wSthin the communitie5 we Serve. These enterprises not only provide financial support to the charity but also offer practical opportunitie5 for learners to gain valuable real-world experience. The Mana8ement Team The day-to-day management of the or8anis3tion is delegated to a highly skilled Senior Management Team. which is responsible for the effective operation and delivery of 81ackburne House's mission. The current team is- A Rushton - Chief Executive L Mariah- Dirertor of Business Development & Communications Trustee appointment, Inductlon and trainin8 The Board adopt a strategic approach to trustee recruitment and when appropriate all vacancies are advertised within the community to attract trustees to serve on its board and also invite trustees to nominate prior to the AGM. All members are circulated with invitations to nominate trustees prior to the AGM advislng them of the retiring trustees and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirements for any specialist skillset and competency needed that would enhance the organisation's ability to deliver on its strategic goals. Board members come from a variety of backgrounds, and it 15 thi5 variety that adds value to the organisation. However, we recognlse that our expectations are high and the demands we place on the Board are considerable, therefore we feel that it is important to support all Board Members with the traSning and development they need to complement and supplement their current skills and competencie5. 131 Page BLACKBURNE HOUSE Trustees, Annual Report Icontlnuedl Year ended 31 July 2024 Trustee appointment, induction and tralnlng Icontlnuedl The induction pro8ram aims to give the new member an understanding of the work of Blackburne House Education and to help recognise how they can make a significant contribution to the organisation during their term of office. New trustees under80 an orientation program to brief them on their le8al obligations under charity and company law, the contents of the Memorandum and Articles of Association, the committee and decision-making processes and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events and internal training and briefings where these will facilitate the undertakin8 of their role. Related Charltles Blackburne House is related to Women's Technology Training Limited by virtue of common directors, influence and shared resources. Statement of Trustees, responslbllltle$ The trustees (who are also directors for the purposes of company lawl are responsible for preparing the Tru5tees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accountin8 Standard5 Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees re required to.. select suitable accountlng policies and then apply them cons15tentlv. observe the methods and principles in the Charities SORP 2019 IFRS 1021. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Trustees, Statement of disclosure of information to the auditors Eèch of the persons who is a trustee at the date of approval of this report confirm in so far as they are aware: there is no relevant audit information of which the charity's auditors are unaware: and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. BLACKBURNE HOUSE Trustees, Annual Report Iconthiuedl Year ended 31 July 2024 Audltors A resolution for the re.appointment of Mltchell Charle5WOrth (Audltl Limited will be proposed at the forthcomln8 Annual General Meeting. Approval In approving the Trustees. Annual Report. we also approve the Strategic Report included therein in our capaclty as company director5. SIGNED BY ORDER OF THE TRUSTEES Reglstered offlce: Blackburne House 81ackburne Place Off Hope Street Llverpool 18 7PE Llz Cross CHAIR OF THE BOARD OF TRUSTEES Approved by the trustees on 22 Aprll 2025 Mitchell Charlesworth (Audit) Limited Accountants Suites C, D, E, F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ BLACKBURNE HOUSE Independent Audltorfs Report to the Members of 81ackburne House for the year ended 31 July 2024 Oplnlon We have audited the financial statements of Blackburne House (the 'charitable compan￿) for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including 3 summary of si8nificant accounting policies. The financial reportin8 framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kin8dom Generally Accepted Accounting Practicel. In our Oplnlon the flnanclal siaiemenis,. give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of its incomlng resources and application of resources, includin8 Its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice,. and have been prepared in accordance wlth the requirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance with International Standard5 on Auditin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statement5 section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financSal statements in the UK, includin8 the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Materlal uncertalnty related to 8oln8 ¢on¢ern We draw attention to note Ilql in the financial statements, which highlights the fact that there is a net current Ilability position of £314,355 and a deficlt on unrestricted funds of £715,322. Whilst these conditions indicate that a material uncertainty exists that may cast doubt on the charitable company's ability to continue as a going concern, note Ilql provides a full explanation of the circumstances surrounding this. Our opinion is not qualified in respect of this matter. Other informatlon The other information comprises the information included in the trustees, annual report. other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothin8 to report in this regard. Mitchell Charlesworth (Audit) Limited Accountants Suites C, D, E, F 14th Floor, The Plaza 100 Old Hall Street . Liverpool . L3 9QJ BLACKBURNE HOUSE Independent Auditorfs Report to the Members of Blackburne House for the year ended 31 July 2024 IConllnu•dl Oplnlons on other rnatter$ preKrlbed by the Companies Art 2006 In our opinion, based on the work undertaken in the course ofthe audlt: the information given in the trustees, report lincorporatin8 the strate8ic report and the director5, report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and the strate8ic report and the dirertors. report has been prepared In accordance with applicable le8al requirements. Matters on which we are requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identlfled material misstatements in the strategic report and the dlrectors, report. We have nothin8 to report in respect of the following matters In relatlon to which the Companies Act 2006 requlres us to report to you If, In our oplnlon., adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not In agreement with the accountin8 records and returns. or certain disclosures of directors, remuneration specified by law are not made,. or we have not received all the information and explanations we requlre for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities set out on page 14, the trustees (who are also the directors of the charitable company foi the purpose of company lawl are responsible for the preparation of the financial statements and for belng satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the charitable companws ability to continue as a going concern, discloslng, as applicable, matters related to going concern and using the going concern bèsis of accountin8 unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternatlve but to do so. 171 Page Mitchell Charlesworth (Audit) Limited Accountants Suites C, D, E, F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ BLACKBURNE HOUSE Independent Auditorfs Report to the Members of Blackburne House for the year ended 31 July 2024 Icontlnuedl Audltor's responsibilltles for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a hi8h level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decislons of users taken on the basis of these financSal statements. Irregularities, including fraud, are instances of non-compliance with laws and re8ulations. We deslgn procedures In Ilne with our responsibilities, Outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularlties, including fraud, is detailed below. Extent to whlch the audlt was considered capable of detertlng Irregularltles. Includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. and then desi8n and perform audit procedures responsive to those risks. including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifyin8 and assesslng potential rlsks related to irregularltSes In identlfyin8 and assessing risks of materlal misstatement in respect of irre8ularities, includlng fraud and non- compllance wlth laws and re8ulations. we consldered the following.. the nature of the industry and sector, control environment and business performance: the charltable company's own assessment of the rlsks that irregularities may occur either as a result of fraud or error: the results of our enquiries of mana8ement and members of the Board of Trustees of their own identification of and assessment of the risks of Irregularities; any matters we identified having obtained and reviewed the charitable companvs documentation of their policies and procedures relatin8 to.. identifyin& evaluatin8 and complying with laws and regulations and whether they were aware of any instances of non.compliance; detecting and responding to the risks of fraud and whether they have knowledge of any attual, suspected or alleged fraud,. the internal controls established to mitigate risks of fraud or non.compliance with laws and regulations; and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. Mitchell Charlesworth (Audit) Limited Accountants Suites C, D. E. F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ BLACKBURNE HOUSE Independent Auditorfs Report to the Members of Blackburne House for the year ended 31 July 2024 IContlnu•dl As a result of these procedures, we considered the opportunities and incentives that fflay exist withln the organisation for fraud and identified the greatest potential for fraud in the followlng areas.. (•) The presentation of the charitable company's Statement of Financlal Activities, lill revenue recognition, and liiil the overstatement of salary and other costs. In common with all audits under ISAS IUKI, we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the charitable company operates In. focusing on provision5 of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulatlons we considered in this context included the UK Companies Act and the Statement of Recommended Practlce - 'Accountlng and Reportin8 by Charltles, Issued by the joint SORP makin8 body. In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable companws ability to operate or to avoid a material penalty. These included Safeguarding, Data Protertion and food hygiene re8ulations. Audit response to rlsks Identified As a result of performing the above, we identified the presentation of the ¢harltable company's Statement of Financial Activities, revenue recognition and overstatement of wages and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explalns the matters in more detall and also descrlbes the speciflc procedures we performed In response to those key audlt matters. In 3ddltlon to the above, our procedures to respond to risks identified included the following.. reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations described above as having a direct effect on the financial statements; enquirin8 of management and members of the Board of Trustees concerning actual and potentlal litigation and clalms,. performin8 ènalytical procedures to Identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud,, reading minutes of meetin8s of those charged with governance and reviewing correspondence wlth relevant authorities where matters identified were significant: and in addressing the risk of fraud throu8h mana8ement override of controls, testing the appropriateness of journal entries and other adjustments: assesslng whether the judgement5 made in making accounting estimates are indicative of a potential bias: and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 191 Page Mitchell Charlesworth (Audit) Limited Accountants Suites C, D, E, F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ BLACKBURNE HOUSE Independent Auditols Report to the Members of Blackburne House for the year ended 31 July 2024 IC¢nllnuedJ We also communicated relevant identified laws and regulations and potential fraud risk5 to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves intentional concealment, for8ery, collusion, omission or misrepresentation. A further description of our responslbllitles Is avallable on the Financial Reporting Council's website at: http:Ilwww.frc.org.uk/audltorsresponsibilities. This description forms part of our auditor's report. Use of our report Thls report Is made solely to the charltable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken so that we might state to the charitable compan¢s members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for thls report, or for the opinions we have formed. ILL1￿ c/.£.,I (LLI)I_I. Mr Phlllp Grlfflths Senior Statutory Auditor 29 April 2025 On behalf of Mltchell Charlesworth {Audlt} Llmlted Statutory Auditor Suites C, D, E & F 14th Floor, The Plaza IOQ Old Hall Street Liverpool L3 9Ql 20IPage BLACKBURNE HOUSE Statement of Flnancial Activlties Year ended 31 July 2024 Unrestrl¢ted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Infome from: Notes Donations and legacies Charitable activities Investments 5,834 1.452,318 S.834 1,454,203 11.847 1,395,S92 1.885 Total Income 1,458,IS2 1.885 1.460,037 1,407,440 Expendlture on". Charitable activities {1.656,0661 125,2501 138.0571 {1,719,3731 11,480,004) Total expendlture {1,656,0661 125.2501 138,0571 11,719,373) 11,480.0041 Net expendlture for the year io 1197,9141 123,3651 {38,057 1259,3361 172,5641 Total fund5 brought forward 1517,2031 2,189,295 2,638,647 4.310,739 4,383,303 Total funds Carried forward 1715,1171 2,165,930 2,600,590 4.051.403 4,310,739 The charity has no recognised gain5 Qr losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing. The notes on pages 26 to 39 form part of these financlal statement5. BLACKBURNE HOUSE Statement of Flnanclal Actlvltles Icontlnuedl Year ended 31 July 2024 Comparative information for the year ended 31 July 2023 Unrestricted Funds Restricted Funds Endowment Funds Total Funds Z023 Total Funds 2022 Income from: Notes Donations and le8acie5 Charitable activities Investments Other 11,847 1,253,454 11,847 1,395,592 19,525 1,111,257 142,138 24,750 Total Income 1,26S,302 142,138 1,407.440 1,155,533 Expend5ture on: Charitable activities 11,276,272) 1165,6751 (38,0571 11,480,004) 11,316,019> Total expendlture 11.276.272) 1165,6751 138,0571 11,480,004) 11,316,019) Net expendlture for the year io 110,9701 123,5371 138,0571 172,5641 {160,4861 Total funds brought forward 1506,2331 2,212,832 2,676,704 4.383,303 4,543,789 Total lunds carried forward 1517,2031 2,189,295 2,638.647 4,310,739 4,383,303 The charity has no reco8nised 8ains or losse5 Other than the results for the year as set out above, All of the activities of the charity are classed as continuing. The notes on pa8e5 26 to 39 form part of these financial statements. BLACKBURNE HOUSE Summary Income and Expendlture Account Year ended 31 July 2024 2024 2023 Notes Income Interest and investment income 1,460,037 1,407,439 Gross Income 1,460,037 1,407,440 Expenditure Interest payable Depreciation 1,642,250 6,267 70,856 1,386,83S 8.487 84,682 Total expendlture 1,719.373 1,480.IXI4 Net lexpendituiel 1259,3361 172.564} All of the activities of the charity are classed as continuin8. The notes on pages 26 to 39 form part ofthese financial statements. BLACKBURNE HOUSE Balance Sheet 31st July 2024 2024 2023 Notes Fijted assets Tangible assets 14 4,821,289 4,887,170 Current assets Stocks Debtors Cash at bank and in hand 15 16 3,567 72,932 20,689 3,567 91,967 33.04S 97,188 128,579 Credltors: Amounts falling due within one year 17 1411,5431 1223.9701 Net ¢urrent Ilabllltles 1314,3551 195,3911 Total assets less Current liabllltles 4,506,934 4,791,779 Credltors.. Amounts falling due after more than one year 18 1455,531) 1481,0401 Net assets 4,051,403 4,310,739 The funds of the Charlty Endowment Restricted Unrestricted 21 22 23 2,600,590 2,165,930 1715,1171 2,638,647 2,189,295 1517,2031 Total funds 24 4,051,403 4,310,739 These financial statements were approved by the trustees and authorised for issue on 22 April 2025 and are signed on their behalf by: Sally Anne Watkiss Trustee Company Registration Number.. 2674432 The notes on pages 26 to 39 forrn part of these financial statements. 241 Page BLACKBURNE HOUSE Statement of Cash Flows Year ended 31 July 2024 2024 2023 Notes Cash flow from operating actlvltles Cash generated from operations 30 37.079 122,7661 Cash flow from Invesling artlvltles Payments to acquire tangible fixed assets Investment income received 14,975) 13,528} Net cash flow from investing attivities 14.975) 13,527) 32.104 126.2931 Cash flow from finan¢in8 artlvities Repayment of loans Payment of obligations under finance leases Interest paid 130,6741 17,5191 16,2671 124,1931 {4,9591 {8.4871 Net cash flow from financin8 actlvltles 144,4601 137,6391 Net Increase/(deerease) In ¢ash and cash equlvalonts 112,3561 163,9321 Cash and cash equivalents at l August 2023 33.045 96,977 Cash and cash equivalents as at 31 July 2024 20.689 33,045 The notes on pages 26 to 39 form part of these'financial statements. 25 | Page BLACKBURNE HOUSE Notes to the Financial Statements Year ended 31 July 2024 summary of aecountlng pollcles (a) General informatlon and basis of preparation Blackburne House is a company limited by guarantee and a registered charity incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to El per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are set out in the Trustees, Report on page 3. The charity constitutes a public benefit entity as defined by FRS 102. The flnancial 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 IFRS 1021 issued in October 2019, the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accountin8 Practice. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterlin8 which is the functional currency of the charity and rounded to the nearest £1. The signlflcant accounting pollcies applied In the preparation of these financial statements are set out below. These policies have been conslstently applied to all years presented unless otherwise stated. Ibl Funds Unrestricted funds are avallable for use at the discretion of the trustees in furtherance of the general objectives of the charity where they have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed bv donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are char8ed against the specific fund. The aim and use of each restricted fund Is set out in the notes to the financlal statements. The property fund is treated as a permanent endowment on the basis that the original building is not owned by the charity and the building alterations that have been carried out form a capital fund with which the charity has now power to convert the capital into income. (cl Income reco8nltlon All incomin8 resources are included in the Statement of Financial Activities ISoFA} when the charity is legally entitled to the income after any performance conditions have been met. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP IFRS 1021. Further detail is given in the Trustees, Annual Report. BLACKBURNE HOUSE Notes to the Flnanclal Statements Icontlnuedl Year ended 31 July 2024 Summary of accountln8 policie5 Icontlnuedl Income reco8nltlon Icontlnuqdl Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to special performance conditions and is recognised as earned as the related services are provided. Grant income included in this category provides fundin8 to support performance activities and is recognised when there is entitlement, certainty of receipt and the amounts can be measured with sufficient reliability. Investment income is earned through holdin8 assets for investment purposes such as bank deposlts. It essentially includes interest which is reco8nised using the effective interest method. Id) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that ggregate all costs related to the category. Expenditure is reco8nised where there is a le8al or constructlve obligation to make payment5 to thlrd parties, il is probable that the settlement will be required and the amount of the obli8atlon can be measured reliably. It is categorised under the followin8 headings: Expenditure on charitable activities includes costs associated with the charity includin8 SUPPOrt Costs a5 appropriate. Other expenditure represents those items not fallin8 into the cate80ry above. Support costs allocatlon Support costs are those that as51St the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management Carried out at the charity's re8lStered office. Where support costs cannot be directly attributed to particular headin85 they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent wlth use of the resources. The analysls of these cost5 Is included in note 6. ifj Capital grants Grants recelved to cover the cost of building alterations and fixtures and fittings are included as restricted income and will be credited to the Statement of Financial Activlties on a basis consistent with the depreciatlon policy. (g) Tanglble fixed assets Tangible fixed asset5 are stated at cost lor deemed costl or valuation less accumulated depreciation and accumulated impairment105ses. Cost includes costs directly attributable to making the asset capable of operatin8 35 intended. Capital expenditure on equipment is written off in the period in which it is incurred if purchased from grant income. Individual assets are capitalised on the balance sheet where their cost exceeds £100. BLACKBURNE HOUSE Notes to the Financial Statements Icontlrtuedl Year ended 31 July 2024 Summary of accounting policies Icontinuedl Tangible fixed assets Icontlnuedl Depreciation is provided on all tangible fixed a55et5, at rates calculated to write off the cost, less estimated residual value. of each asset on a systematic basis over its expected useful life as follows: Building alterations & additions Computers Fixtures & fittings Equipment I- IO% per annum 10- 33% perannum 10- 20% perannum 10- 20% perannum Whilst historically building alterations have been depreciated at 1%, additions are not considered to have the same life and so are depreciated over 10 years. {h} Stocks Stocks are stated at the lower of cost and estimated sellin8 price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other cost incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged. obsolete and slow-rnoving Stock where appropriate. Debtors and ¢r•dltors r¢¢elvable I payable wlthln one year Debtors and creditors with no stated Interest rate and receivable or payable wlthln one year are recorded at transaction price. Any losse5 arisin8 from impairment are reco8nised in expenditure. ui Loans and borrowln85 Loans and borrowin8s are initially recognlsed at the transaction price includin8 transaction costs, Subsequently, they are measured at amortised cost usin8 the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther 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 contractLtal 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 a55et and settle the liability simultaneously. 8oslcfinonclol ossets Basic financial a55ets. which Snclude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are 5ub5equently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is rneasured 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. 281 Page BLACKBURNE HOUSE Note5 to the Flnanclal Statements Icontlnuedl Year ended 31 July 2024 Summary of atcountln8 policies IContinued] Flnancial instruments Icontlnuedl Boslcfinanciol liobilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financin8 transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest, Financial liabilities classified as payable wlthin one year are not amortised. Debt Instruments are subsequently carried at amortised cost, uslng the effective interest rate method. Trade creditors are obligatlons 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 transactlon price and subsequently measured at amortised cost usln8 the effective interest method. Derecoqnhlon offlnan¢lal Ilobllltle5 Financial liabilitles are dereco8nised when the charlty's contractual obllgatlons explre or are dlschar8ed or cancelled. Provisions Provisions are recogni5ed when the charity has an obligation at the balance sheet date as a result of a past event. it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Im) Leases Assets acquired under finance leases are capitalised and depreclated over the shorter of the lease term and the expected useful Ilfe of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outStandin8 lease Ilability using the effective interest method. The related obli8ations, net of future finance char8es, are included in creditors. Rentals payable and receivable under operating leases are charged to the SOFA on a stralght-llne basis over the period of the lease. Employeo benefits When employees have rendered service to the charlty, short.term employee beneflts to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. Tajt The charity is an exempt charity within the meaning of schedule 3 of the Charities Art 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. BLACKBURNE HOUSE Note5 to the Financial Statements Icontinuedl Year ended 31 July 2024 Summary ol accounting pollcles Icontlnuedl (pl VAT The charity is partially exempt for VAT purposes. VAT for partial exemption which is not allowed in the vear is written off to the Statement of Financial Activities. Iql Goln8 mncern The financial statements have been prepared on a going concern basis as the future outlook reflects the opportunities that have arisen as a result of our ability to support the communities we serve as we emerge from Covid-19. Whilst the Trustees acknowledge the net current liabilities position of £314,355 is a challenging basis on which to enter into post Covid-19 recovery. we are confident that our core business can respond to the transitioning period, bolstered by our embedded social impacts in action. Our day to day activities that provide much needed service5 in support of our charltable aims to educate women and drive social and economic advancement have emerged as more valuable than previously recognised. During this pandemic, we have stren8thened our work within our community as we are directly aligned to those who need us most. We are able to provide responsive and bespoke support to women, families and the BAME community that are impactful and immediate and funders are investing in organisations that are deliverin8 Social value thou8h their day to day trading operations, activities and interventions, rather than through one off projects. Funders have seen the value of organisations working with particular communities during Covid-19. We are rooted in the local community and have access to people who have been disadvantaged through this pandemic, Our learners and employees, a hi8h proportion of which are women, part of the 8AME community and those who experience social deprSvation are even more at risk of mental ill health and cultural inequalities. Blackburne House have responded at speed with interventions that reach those people most in need and provided funders with the networks and reach to make a difference. We have successfully contracted to provide that support post Covid19 and we anticipate thi5 will translate into long term. substantial contracts with significant interventions. The trustees have reviewed the plans and consider that the budgeted Income and expenditure is sufficient for the charity to be able to continue as a going concern and remain confident that core busSness Is sustainable in the long term. Income from donatlons and legacies Unrestricted Funds Restrlcted Funds Endowment Funds Total 2024 Total 2023 Donations 5.834 5,834 11,847 5,834 5,834 11.847 All of the above income in 2023 was attributable to unrestricted funds. BLACKBURNE HOUSE Notes to the Financial Statement5 Icontinuedl Year ended 31 July 2024 Income from charitable artlvbties Unrestrlcted Funds Restrlrted Funds Endowment Funds Total 2024 Total 1023 Nursery income Café Bar income Rent receivable Events Car park income Clatterbridge café Wellness Centre Grants receivable: People's Postcode Lottery Liverpool City Council - Public Health Oomestlc Abuse Mental Health Liverpool City Council Clinically Extremely Vulnerable People Grant Big Issue Invest SESF The National Garden Scheme Other 363,683 239,322 227,872 140,642 35,719 425,693 18,309 363,683 239,322 227.872 140,642 35.719 425.693 18,309 364,644 221.489 115.587 102,720 30.826 387.222 29.957 27.083 8.449 64,571 40,917 1,118 1.009 1.885 1,885 1,078 1,078 1,452,318 1,885 1.454.203 1.395.592 Of the above Income In the prlor year, £1.253,454 was attributable to unrestrlcted funds, and £142,138 was attributable to restricted funds. Income from Investments Unrestrirted Funds Restrlrted Fund5 Endowment Funds Total 2024 Total 2023 Interest received on cash deposits All of the above income In 2023 was attribulable to unrestricted funds. BLACKBURNE HOUSE Notes to the Financlal Statements IContlnued] Year ended 31 July 2024 Analysls of expenditure on tharitable activities Artlvltles undertaken dirertly Support Costs Total 2024 Totsl 2023 Nursery Wellness Centre Cafe Events Projects and Business Development Building management Clatterbrid8e café Other 313,529 41,407 425.724 27,893 48,182 97.728 169,975 148,193 8.229 97,519 57.309 461,722 49,636 523,243 85,202 48,182 205,136 343,436 2,816 398,792 87.288 $04,239 51,142 123.8181 163,234 256,494 42,633 107,408 173,461 2,816 1,124,438 594,935 1,719,373 1,480.004 Of the above costs £1,656,066 12023 £1.276.2721 were attributable to unrestricted funds, £25.250 {2023 £165.6751 were attributable to restricted funds, and £38,05712023 £38,057) were attributable to endowment funds. Allocatlon of support costs 2024 2023 Management salaries Premises costs Office costs Depreciation Professional Other Governance costs (see note 71 165,275 161.974 76,486 70,856 49,188 57,184 13,972 157,498 171,083 73,494 84,682 649 39,035 14,171 594,935 540,612 Governance cost$ 2024 2023 Audit and accountancy fees 13,972 14.171 Staff costs and employee beneffts 2024 2023 The aggregate payroll costs were: Wages and salaries Social security costs Other pension costs 787.029 54.013 19,291 703.268 44.785 18,057 860,333 84,781 766,110 {30,0001 Recharged salarles (net) 945,114 736,110 BLACKBURNE HOUSE Notes to the Financial Statements Icontinuedl Year ended 31 July 2024 Stafl costs and employee benefits icoffllnuedl 2024 2023 Partlculars of employees: The average number of staff employed by the Charity durlng the financlal year amounted to.. 45 43 There are no employees with emoluments above £60.000. Trustees. and key man•8ement personnel remuneratlon and expenses No remuneration was pald to the trustees durin8 the year for thelr services as trustees12023 £NIII nor were any expenses reimbursed (2023 £Nil}. The tot31 amount of employee remuneration received by key management personnel includin8 recharge$1s £65.96412023 £67,800). The charity conslders its key management personnel to comprise the Executlve Dlrector of Operatlons. The CEO role is a shared resource between Blackburne House and its sister company, Women's Technology Training Limited. There is an annual recharge to Women's Technolo8y Training Limited each year in connectlon with this resource. 10. Net Incomellexpendlturel lor the year 2024 2023 Thls Is slated after ¢har8ln8: Staff pension contributions Depreciation Auditors, remuneration - as auditors 19.291 70,8S6 13.972 18,057 84,682 14.171 11. Audltorfs remuneratlon 2024 2023 Fees payable to the charity's auditor for the audit of the charity's annual accounts 13.972 14.171 12. Taxatlon The company is exempt from corporatlon tax on its charitable activities. 13. Interest payable and similar expenses 2024 2023 Other loans Finance charge payable under finance leases 4,805 1.462 6.210 2,277 6,267 8,487 BLACKBURNE HOUSE Notes to the Financial Statements Icontinutdl Year ended 31 July 2024 14. Tangible flxed assets Building Alterations Fbxtures & Fittings Equipment Computers Total Cost At l August 2023 Addition5 6,139,422 265,316 2,630 284,552 2.345 58,790 6,748,080 4.975 At 31 July 2024 6,139,422 267,946 286,897 S8,790 6,753,055 Depreciailon At l August 2023 Charge for the year 1,307,568 61,394 230,626 6,780 264,141 2.575 58,575 107 1,860,910 70,856 At 31 July 2024 1.368.962 237,406 266.716 58,682 1,931.766 Net book value At 31 July 2024 4,770,460 30,540 20,181 108 4,821,289 At 31July 2023 4,831,854 34,690 20,411 215 4,887,170 Included in the net book value of equipment 15 £20,72012023- £27,627) in respect of assets held under finance leases. IS. Stocks 2024 2023 Goods for resale 3,567 3,567 16. Debtors 2024 2023 Trade debtors Prepayments 24.729 48.203 64.437 27.530 72,932 91.967 17. Credltors: Amounts lallin8 due wlthln one year 2024 2023 First Ark loan People's P05tcode Lottery loan Bounce Back loan Trade creditors Social security and other taxes Obligations under finance leases Other creditors Accrua15 and deferred income 16,961 6,936 5,736 126,206 118,053 8.334 49.095 80.222 20,974 6,732 5.S71 129,304 40,130 7,519 1,174 12.566 411,543 223,970 BLACKBURNE HOUSE Notes to the Flnanclal Statements Icontlnuedl Year ended 31 July 2024 18. Creditors: Amounts falling due after more than one year 2024 2023 First Ark loan People's P05tcode Lottery loan Bounce 8ack loan Obllgations under finance leases Other creditors Isee note 251 14,358 36.199 35,507 10,545 384.431 29.262 29,772 2,211 394,286 455,531 481.040 The finance leases are secured agalnst the assets acquired. On 29 March 2018 First Ark advanced the charity £120.000 repayable in monthly instalments over 6 years at a rate of interest of 8.5%. On 20 May 2020, National Westminster Bank plc advanced the charity £50,000 under the Coronavirus Bounce Back Loan Scheme IBBLSI originally repayable over 6 years but extended to 10 years on 4 June 2021, with an interest rate of 2.5% per annum. On 31 January 2022, People's Postcode Lottery advanced the charlty £50,000 repayable In monthly Instalmenls over 7 years at a rate of interest of 3%. 19. Loans and overdrafts Creditors include loans which are due to be repaid as follows.. 2024 2023 Amounts payable: In one year or less or on demand In more than one year but no more than two years In more than two year5 but not more than five years Over flve years and payable by instalments 29,633 13,048 40,799 S,187 33,277 28.882 40,295 16,887 88,667 119,341 20. Leases Flnance leases Flnance leases Pfimarily relate to the purchase of kitchen equlpment. Total future minimum lease payments are as follows.. 2024 2023 Not later than one year Later than one and not later than flve years 8,334 2,211 7.519 10,54S 10,54S 18,064 Assets other than land and buildings 2024 2023 At 31 July 2024 the charity had future total commitments under non-cancellable operating leases as follows.. Within one year Between two and five years 52,723 102,732 40,069 154.307 ISS,45S 194,376 351Pa8e BLACKBURNE HOUSE Notes to the Financial Statements Icontlnuedl Year ended 31 July 2024 21. Endowment funds Asat l August 2023 Asat 31 Julv 2024 Income Expenditure Permanent endowments: Property fund 2,638,647 138,0571 2,600.590 Comparative information in respect of the precedln8 period is a5 follows: Asat l August 2022 A5at 31 July 2023 Income Expenditure Permanent endowments: Property fund 2,676,704 138,0571 2,638,647 22. R¥>lriil¥d fdi)ds Asat l Ausust 2023 Asat 31 Julv 1024 Income Expenditure Liverpool City Council Nursery capltal Liverpool City Region Single Investment Fund (Capital Investment) The National Garden Scheme 491 14911 2,188,804 122,8741 11,8851 2,165,930 1,88S 2,189.295 1.885 125.2501 2,165,930 Comparative information in respect of the preceding period is as follows: Restrlcted funds Asat l August 2022 Asat 31July 2023 Income Expendlture Liverpool City Council Nursery capital Liverpool City Region Single Investment Fund Icapital Investment) People's Postcode Lottery Liverpool City Council - Public Health Domestic Abuse Liverpool City Council Clinically Extremely Vulnerable People BIG Issue Invest SESF The National Garden Scheme 1,154 {6631 491 2.211,678 122,8741 127,0831 2,188,804 27,083 8,449 18,4491 64.571 40,917 1.118 {64,5711 {40,9171 (1.1181 2,212,832 142,138 1165,6751 2,189,295 BLACKBURNE HOUSE Notes to the Flnanclal Statements Iconllnuedl Year ended 31 July 2024 23. Unrestrlcted funds Asat l August 2023 Asat 31 July 2024 Income Expendlture General fund 1517,203) 1.458,152 11,656,066) 1715,1171 Comparative informatlon in fespect of the preceding period Is as follows.. Asat l August 2022 Asat 31 July 2023 Income Expendlture General fund 1506.233} 1,265,302 11,276,272) {517.203) 24. Analysls of net assets between funds Taniible flmed assets Net ¢urrent Ilabllltle$ CrodStors due after one ye•r .Total Endowment fund Restricted fund Unrestricted funds 2,600,590 2,165,930 54,769 2,600,590 2,165,930 1715,117) 1314,3SS1 1455,531) 4,821,289 1314.3551 1455,5311 4,051,403 Comparatlve Information In respect of the preceding period15 as follows: Tangible fixed assets Net current liabilities Credltor5 due after one year Total Endowment fund Restricted fund Unrestricted funds 2,638,647 2,189,295 59,228 2,638,647 2.189,295 1517.2031 {95,3911 1481,0401 4,887,170 {95,3911 1481,0401 4.310,739 371 Page BLACKBURNE HOUSE Notes to the Financial Statements IContSnuedl Year ended 31 July Z024 25. Related party transartlons 8lackburne House is related to Women's Technology Training Limited by virtue of common directors and influence. Both these charities operate from the same Registered Office. Ouring the year Blackburne House charged Women's Technology Limited £312.720 for rent and services12023 £142,372), £Nil12023 £Nill for childcare and other administration, project costs £S3,106 12023 £372.9421. During the year Women's Technology Training Limited charged Blackburne House £49,938 {2023 £34.6561 for management and administration costs and was refunded £16.91212023 £5.9161 in relation to overstated childcare costs. The above exclude VAT on vatable items. At the year-end Blackburne House owed Women's Technology Training Limited £437,09412023 £384,4311. On 31 July 2023 the trustees entered into a formal a8reement to repay the loan in equal monthly instalments. 26. Penslon scheme contrSbutions The charity operates a defined contributions pension scheme for its employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions paid by the charity to the defined contribution scheme which amounted to £19,291 12023 £18,057). 27. Delerred Income Under I year 2024 2023 At l August 2023 Additions Amounts released to income 1,885 10,303 11,8851 1,885 10.303 11,8851 110,256 1,885 1110,2561 At 31 July 2024 10,303 10.303 1.885 Income has been deferred when it is received in advance of the period to which it relates or where performance of the activities to which it relates have not yet been undertaken. Company Ilmited by guarantee The company is limited by guarantee and hès no share capital. On winding up of the company each member will contribute £1. 29. Capltal comrnitments There are no capital commitments as at 31st July 202412023 £Nill. BLACKBURNE HOUSE Notes to the Flnancial Statements IContlnued] Year ended 31 July 2024 30. Reconclllatlon of net lexpenditurel to net ca$h flow from operating activitles 2024 2023 Net lexpenditure}/income for the year Interest receivable Interest payable Oepreciatlon of tangible fixed assets Decrease In stock (259,3361 172.5641 iii 8,487 84,682 87 6.267 70.856 Ilncreasel in debtors IDecrease)lincrease in creditors 19,035 200.257 14,5831 138,8741 Net cash flow from operating activities 37,079 122,7661 Cash and cash equivalent conslsts of: Cash at bank Cash in hand 17,059 3,630 29,029 4,016 20,689 33,045 31. Analysls of change$ In net debt Balance at 1st August 2023 Balance at 31st Julv 2024 Non4ash Changes Cashflows Lon8 term borrowln8S Short term borrowings Obligations under finance leases 186.0641 133,2771 118,064) 27.030 127,0301 159,0341 129,6331 110,5451 30,674 7,519 Total liabllltles Cash and cash equivalent 1137,405) 33.045 38,193 112,3561 199,2121 20,689 Total net debt 1104,3601 25,837 178,5231 391 Page