North Smethwick Dèvelopment Trust Charlty No. 1035308 Company No. 02736636 Trustees, Report and Unaudlted Accounts 31 March 2025
North Smethwick Development Trust Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2tolO li 12 Balance Sheet 13 Notes to the Accounts 14to19 Page I
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report and unaudited financial statements of the charity for the year ending 31 March 2025 TRUSTEES During the year the following people served as Trustees: A McFarlane P Kaur Randhawa R K AggarNal M Trump S Bloomer A Lewis T Prosper S Shama C Burton Chair Vice-chair Resigned 1 sl September 2024 Resigned 3191 December 2024 Resigned 27th March 2025 Appointed 281h March 2025 Appointed 4th June 2025 Appointed 4th June 2025 DIRECTORS During the year the following people senied as Directors of the company,. A McFarlane P Kaur Randhawa R K Aggamal M Trump S Bloomer A Lewis T Prosper S Shamia C Burton Chair Vice-chair Resigned 1 Jt September 2024 Resigned 31 $1 December 2024 Resigned 27th March 2025 Appointed 28th March 2025 Appointed 41h June 2025 Appointed 4° June 2025 COMPANY SECRETARY AND CHIEF EXECUTIVE OFFICER J Harrison BEM ACCOUNTANTS BVSC Latham House, 33-34 Paradise Street, Bimiingham, B12AJ BANKERS Unity Trust Bank 4 Brindley Place, BinInghaM, B12JB HUMAN RESOURCES AND HEALTH & SAFETY ADVISORS Worknest Head Office - Woodhouse, Church Lane, Aldford, Chester, CH3 6JD INSURERS Zurich Insurance Company Limited UK Branch Head Office: The Zurich Centre. 3000 Parkway. Whitely, Fareham. Hampshire, P015 7JZ Page 2
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is constituted as a Company Limited by Guarantee. The members of the company are the Trustees. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the charity. The Memorandum and Articles of Association govern the charity together with the policies made by the Trustees. The Directors of the company are also charity Trustees for the purposes of law and under the company's Articles are known as the Board of Directors. Under the requirements of the Memorandum and Articles of Association th8 members of the Board of Directors are elected to senie a period of three years after whlch they must stand down and be re-elected or resign at the next Annual General Meeting, Recrultment and appolntment of new trustees The Board of Directors are keen to ensure that the Trustee body reflects the diversity of the North Smethwick area as well as possess relevant skills to undertake the governance and oversee the strategic direction of the organisation. Induction and training of new trustees The Directors are familiar with the practical work of the charity, having been involved with the organisation for many years. New Directors are inducted into the workings of the charity. An induction pack for Directors is issued to all new Directors, giving details of financial position, Minutes from last Annual General Meeting, Latest Board Meeting notes and Handbook including Code of Conduct. Organlsatlonal structure North Smethwick Development Trust has a Board of 6 Directors, with a capacity of up to 11 members. They meet quarterly and are responsible for the strategic direction and policy of the charity. The Board has a membership consisting of people that live andlor work in North Smethwick and who are from a variety of professional backgrounds relevant to the WO of the Trust. During the year, the Board held quarterly meetings. Sub group meetings (Finance & HR and Governance, Risk & Strategy) of the Board meet quarterly throughout the year. Day to day responsibility for the workings of the Trust rests with the Chief Executive Officer (CEO). The Chief Executive Officer is responsible for ensuring that the charity delivers the services specified by the Board and that key performance indicators are met. The Chief Executive Officer is also responsible for the supervision of the staff team and volunteers and also ensuring that the team continue to develop their skills and workin9 practices in line with best practice and to meet the needs of the charity's causes. The financial administration is the responsibility of the Finance & Administrative Officer including the preparation, management and monitoring of the management accounts and the line management of the caretaking and cleaning team and our Community Fcrfjd Hub Manager was responsible for the operational running of the food pantry servi, as well as the recruitment and development of volunteers enrolled to support the food panty service until is closure in December 2024. We introduced a new role of Community Development Worker in January to support the development of community engagement, promotion and development within the local community. Also, we have recruited to a Customer Service Apprenticeship role to aid operations. The Car Park Team Leader is responsible for the operational running of the match day parking service and car park stewards. Pag¢ 3
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 Related parties In so far as it is complimentary to the Trust's objects, the organisation is guided by local, regional and national policy. In 2013 the Trust signed a 99-year lease agreement with Sandwell Metropolitan Borough Council. We are supported for our Health and Safety Management and Human Resources responsibilities by Worf<nest. Risk management The Board of Directors have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A range of risks have been identified by the Trust and is guided by the Charity Commission's'charities and Risk Management Guidance (CC26). Financial security and future sustainability is being in part, addressed by the development of existing Community Business to generate sustainable income to achieve financial independence. Internal control risks are minimised by the implementation of a risk register managed by the Chief Executive Officer at an operational level, in line with our Risk Management Policy. Procedures for the authorisation of all transactions and projects, are laid out in our Financial Policy & Procedures. Procedures are in place to ensure compliance with health and safety of staff. volunteers, clients and visitors to the Brasshouse Centre. A number of organisational policies were reviewed during the year. These risks are managed Ihrough the Governance, Risk and Strategy Sub Group who meet quarterly and all red risks are reported to the Full Board of Directors. The categories of risk measured and monitored are: Financial Governance Operation Compliance, and Environmental OBJECTIVES AND ACTIVITIES Objectives and aims The principal aim of the charity is to achieve the social, economic and environmental regeneration of North Smethwick and provide the means by which the residents of North Smethwick and surrounding areas can actively participate in and contribute to the process of improving the quality of life for all people living in the area. Our Mlsslon To be widely recognlsed as a leading community anchor organisation providing seNices for our community. Locally owned with active involvement from the community, the Trust will continue to make a real and positive contribution to the lives of people in North Smethwick. Itwill be seen as an essential partner for agencies operating in North Smethwick and the viider area. The Twst will be financially independent with income streams derived from its own assets and social enterprise. To support our aim we. have a defined set of ambitions. these being Health & Wellbelng We want to work with our local community to improve health and wellbeing. We want to work with our local community to reduce the impacts of poverty. Children & Young People We want to help and support our children & young people reach their full potential. Reducing Poverty Page 4
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 Proud of our community We want to make our local community a place where people feel pride in where they live and work. Publlc Benefit Statement: Objectives and Activltles for Publlc Beneflt The trustees have referred to the guidance from the charities commission on 'Charities and Public Benefit,. The trustees are confident that the aims and activities of North Smethwick Development Trust to provide a range of s8Nices and activities for local people are in accordance with the regulations on public benefit. These activities are primarily to aid health and wellbeing and to facilitate the residents of North Smethwick to actively participate in, and contribute to, the process of improving the quality of life in th8 area. Details of activities delivered is provided in the next section of the report. ACTIVITIES DURING THE REPORTING YEAR Following a series of consultation, community conversations and evidence-based research, we have developed and delivered opportunities for activities directly or in collaboration with partners undertaken by the Trust and these include: We hosted a cost of living day in whlch the wlder community donated new and pre-loved coats to local families. (we had 150 surplus coats after giving away 95 so we gave them to another local charity, 8rushstrokes, for their service users) In December, we hosted a community Christmas meal in which we had the two local PCSO'S (Police Community Support Officers) attend and served food to local community members. One to one counselling support sessions, as well as group sessions. In August 2024 we facilitated a coach trip to Blackpool and also in August 2025 we organised another coach trip to Weston Super Mare. Canals & River Trust Joint working for monthly Mindfulness Walks and Canal Litter Picking sessions We wod(ed wlth the Book trust and The National Literacy Trust to distribute 600 books for local children, these comprised books for children aged 0-2, 3-5, 6-9 and 9-12 years. We wort(ed wilh local organisations and schools to ensure a wide reach. Cost of Llvlng Advlsors, with support from Sandwell Consortium and the Sandwell Advice Providers Network, we were able to respond to the cost of living crisis through the offer of Information, Advice and Guidance on (IAG) welfare benefits, reduction of debt, completion of fonns. employment and consumer advice. Up until December 2024, we ran Our Food Panty as a way to tackle issues of food povety within the local community in a more sustainable way. This enables local people to access affordable food, household items, period products, personal hygiene products and laundry and cleaning items to people most in need. Continued with our volunteering initiatives following receipt of funds from Sandwell Community Hubs. This enabled volunteer support in café and catering, aministration, gardening, community support as well as events and activities. Growing Friends Gardening Club for mental health and wellbeing Delivery of a range creative arts activities to support the mental health and well-being of people including sewing, knitting, crafting and arts and crafts. We offered our centre to being a Welcome Space to support people in need through the winter and colder months to take the pressure off the costs of heating their home by providing a wam space and also hot drinks and snacks. This also helps us provide and advice and information. We worked with Murray Hall Community Trust to host digital classes for older people to build their confidence using digital technology as well as helping to reduce isolation and improve social connections. We have supported 3 young people from local schools gain valuable work experience as part of Page 5
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 their personal and future career development We hosted a number of community activities such as October half term out of school community fun day for families, Christmas dinner and party and distributed new toys, books and clothing to disadvantaged local people in need. We hosted fitness classes such as Yoga and Tai Chi. Provision of ESOL (English for Speakers of Other Languages) to aid developing English language. social interaction, health literacy and employability thanks to funding from Sandwell Consortium and the Sandwell Leaming Neork. Cost of Living Counselling Support Sessions, thanks to funding from the Heart of England Community Fund and Harborne Parish Lands Charity. Weight Management and Fitness Classes Women's Health Events in partnership with Central Health Partnerships and the Local Social Prescriber Two provisions of the NHS Blood Donation Bank for NHS Live Theatre Performance as part of the Black Country Touring's Smethwick Puppetry Festival in February 2024. Working with local entrepreneur from Muslim Instashop Expo to host Eid Festival and Marketplac8 in which of 1000 people attended Provision of Sim cards to people most In need, thanks to our partnership with the Good Things Foundation Working wlth Make Good Arts for a series of Textile Making workshops for wellbelng Delivery of Holiday. Activities and Food programme for disadvantage families where 457 bookings were made delivering arts and crafts, sports team building, hair academy for teens, games, outdoor play, thanks to funding from Sandwell Council's Go Play Team. We were donated a Community Bleed Control Kits thanks to an initiative from Sandwell Council and Bishop Dr. Desmond Jaddoo MBE as part of the Yes2Life Project along with John Duthart of 'Fire & Evacuation SeNices Ltd,. Working with Sandwell Family Hubs to deliver a weekly Stay & Play sesslon for families with children under 5 years old. Dellvery of a weekly volunteer led Sip and Chat session for older persons, reducing isolation and increaslng social and creative interactions. ACHIEVEMENT AND PERFORMANCE Charltable activities BRASSHOUSE COMMUNITY CENTRE North Smethwick Development Trust has maintained its servi Level Agreement with Sandwell Metropolitan Borough Council providing a primary Sour of funding for the operations of managing the Brasshouse Community Centre. As a pla for hire, the Brasshouse Community Centre is able to offer a space for private hire, for celebratory events, as well as a place to hire for training. meetings. seminars, leisure and much more. Regular activities in addition to the direct offer of the Trust and is a chosen venue for many organisats'ons including: Aman Group, a social group for Asian elders and provides gentle exercise, spiritual and social connections. KSOL (Key Stages on Line), an education tuition group for children Sandwell MBC Think Local Employment Team (Job Club). Providing practical support and assistance for people seeking employmenl, training and or work experience in order to improve Page 6
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT {INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 their employability and career prospects. Go Play Sandwell & Powered by CAN for their indoor Play provision. Sunday Church Councillor Surgeries for St Pauls Ward Elected Members West Midlands, Police (Smethwick) Surgeries to improve awareness of reporting crime and improve positive relationships within the community. Activitee Ltd for their weekly multi sports sessions for young people Weight Management Sessions Falls Prevention and Balance exercise sessions for over 55's by Age UK Sandwell St John Ambulance Cadets, a uniformed youth organisation for first aid, Marine Society & Sea Cadets for their new Sea Venture's initiative The Trust has improved efforts to raise the profile of the Trust in the local and wider community throughout the review year. This has been achieved through a dedicated Community WhatsApp. All statutory checks r81atlng to Health and Safety have been undertaken such as gas servicing, fire safety maintenance (firefighting equipment, fire aSami and fire door servicing). Air conditioning servicing, PAT (Portable Appliance Testing), Intruder Alami and CCTV maintenance as well as Pest Control, Food Storage equipment servicing, and servicing of our retractable walls within our hire space. All of which help to maintain a safe environment for our staff, volunteers, customers and the visiting public. YOUR LOCAL PANTRY- BRASSHOUSE A key priority for the Board was the provision of services that reduced the impact of poverty on the local community in a sustainable way. One such initiative was our Food pantry that has since closed in Decernber 2024. We are grateful to Fareshare MidlandsTM Incredible Surplus. Thrive Together Birmingham, Sandwell MBC and Your Local Pantry in their support, advice and guidance. The food pantry acted as a community business that helped provide volunteering and employment opportunities for local people. The Pantry has been a huge success and is often the conduit to people seeking further support to help them get out of the challenging and difficult situations some find themselves in. Through our interventions with members, many seek help for additional reasons, such as assistance with budgeting, mental health, and education. We've realised that if we only addressed their food needs, we missed the opportunity to make a broader impact. Supporting these additional areas is crucial for creating lasting change and improving the quality of life for our community members. This understanding shapes future projects. ensuring that we address a range of needs and support the community in a more impactful way. STAFFING The Trust employed 13 members of staff. during the review period. The staff team over the year comprised a Full time Chief Executive Officer, Finance & Administrative Officer and Community Food Hub Manager (Until December 2024). We have since the closure of the Food Pantry service, we have introduced a new role of Community Development Worker. The post holder is the former Community Food Hub Manager and will build on the community development principles we know about. Part time workers included Community Food Hub Assistant, Caretakers and Centre Cleaner. We also engaged a Seasonal Car Park Team Leader and Car Parking Stewards. The Board of Directors would like to thank the staff team for their continued commitment and hard work for local people and the Community. Page 7
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 All Staff have undertaken training over the reporting year covering such topics as safeguarding children, safeguarding adults, manual handling, food safety (level 2), food allergies, first aid in the workplace, bleed control training, health and safety in the workplace. GDPR (Data protection), fire safety, customer service, fire marshal, time management. COSHH, legionella, lone working. prevention of slips, trips and falls, stress management, health and wellbeing for employees, Covid awareness and use of PPE. VOLUNTEERING We continue to be supported by a fantastic group of people over the review period with 20 voSunteers giving 1642 volunteer hours (representing 221 VK)rking days) overthe year. Our largest area of interest in volunteering is through our café and catering Enterprise. The Board of Directors extend thanks to all the volunteers who support the Trust and local people. We simply could not achieve all that we do without them. Pag¢ 8
NORTH SMETHWICK DEVELOPMENTTRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 OUR DONORS, SUPPORTERS AND FUNDERS The Board of Directors would like to thank firstly our customers for accessing the seNices and provisions of the Trust and to our funders, donors and investors in supporting our charitable aim and objectives. Some of which include (but not exhauslive): Action Against Hunger and Tenderstem Sandwell Consortium and Sandwell Advice Providers Network Sandwell Metropolltan Borough Council SCVO (Sandwell Council of Voluntary Organisations Harborne Parish Lands Charity National Lottery Community Fund The Heart of England Community Fund The Roger and Douglas Turner Trust The Edward Cadbury Trust Black Country Be Active Department for Education Sandwell Consortium and the Sandwell Leaming Network TM The team have worked hard to increase grant funding to support the core operating serrfices for the Trust and alongside the staff team have continued to reduce expenditure in non-essential areas. PARTNERSHIPS In supporting our charitable aim and objectives be successful, we work with a range of partners to deliver community benefit. We are extremely grateful to the following organisations in helping us achieve our goals. Some of which include (but not exhaustive): Fareshare Midlands Your Local Pantry Thrive Together Birmingham Age UK (Sandwell) Feed My Creative E.P.I.C. (CIC), Empowering People in Communltles West Midlands Combined Authority Locality Powered By CAN Canal & River Trust Kaleidoscope Plus Group Sandwell College Make Good Arts Black Country Touring The Book Trust TM The National Literacy Trust Good things Foundation West Midlands Police (Smethwick Team) Sandwell Family Hubs Murray Hall Community Trust The Go Play Team LitteatCh Activitee Ltd Muslim Instashop Expo Ltd Central Health Partnerships Holly Lode High School St Michaels Church of England School The Marine Society and Sea Cadets Joie De Vivre CIC LOOKING FORWARD Moving forward into the next financial year. The ongoing impact of the cost of living crisis alongside rising operational costs will continue to dominate how we operate. However, in order to meet our charitable purposes, we need to increase community-based activities to meet the identified core objectives of: Page 9
NORTH SMETHWICK DEVELOPMENT TRUST TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 MARCH 2025 1. To work with our local community to improve health and wellbeing 2. To work with our local community to redu the impacts of poverty 3. To help our children and young people reach their full potential 4. To make our local community be a place where people f881 pride in where they live and work Further development and success for the trust centres on recruitment of additional Trustees and Directors that enable us to maximise opportunities that help meet our strategic objectives. Planned and cyclical maintenance programme are identifying the need to replace building assets such as a boiler, tables, chairs for our operats'ons and support our venue hire services. We also want to return to the strong volunteer offer for the TNst, that identlfies local talent and offers opportunities for local people and the business community to be more involved In influencing the Impact that the Trust has. Over the review period collaborative working has built fantastlc opportunities for the Trust and we are very much looking forward to further develop collaborative partnerships for the benefit of our local communlty. Pag¢ 10
North Smethwlck Development Trust Independent Examlners Report Independent Examlner's Report to the trustees of North Smethwick Development Trust I report to the charity trustees on my examination of the financial statements of North Smethwick Development Trust for the year ended 31 March 2025. Responslbllltles and basls of report As the charity's trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examination of your charity's financial statements as tarried out under section 145 of the Charlties Act 20111'the 2011 Act,). In carrying out my examinatlon I have followed the Directions given by the Charlty Commission under section 145151 Ib) of the 2011 Act. Independent examlner's stat•rn•nt I have completed my examination. I can confirm that no materlal matters have come to my attention In connectlon with the exarninatlon glving me cause to believe: accounting records were not kept in accordance wlth section 386 of the 2006 Act,. or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requlrement that the financial statements give a 'true and falr, view which is not matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and princlples of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no other matters in connection with the examlnation to whSch attention should be drawn In this report in order to enable a proper understandin8 of the financial ststements to be reached. Andy Hopklns BVSC Latham House 33-34 Paradise Street Birmingham BI 2AJ 31 March 2025 Page 11
North Smethwick Development Trust Statement of Financlal Actlvities for the year ended 31 March 2025 Unrestrlcted funds 2025 Restricted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investment Income Other Income 122 122 102,243 115,664 1,657 20,218 237 188,523 98,429 1,732 11,168 45,872 115,664 1,657 20,218 56,371 Total 183,S33 56,371 239,904 300,089 Expendlture on; Charitable activities Other 10,922 172,227 43,569 18,889 54,491 191,116 68,346 218,733 Total 183,149 62,458 245,607 287,079 Net gains on Inve5tment5 Net {expendlturelllncome Transfers between funds io 16,0871 107 15,703) 13,010 11071 Net (expendlturelllncome before other 8alns/{losses) 277 15,9801 15,703) 13,010 Other 8alns and losses Net movement In funds 277 {5,9801 15,7031 13,010 Reconclllatlon of funds: Total funds brought forward 30,247 32,942 63,189 50,180 Total funds carrled forward 30,524 26,962 57,486 63,190 Page 12
North Smethwick Development Trust Balance Sheet at 31 March 2025 Company No. 02736636 Notes 2025 2024 Current assets Debtors Cash at bank and in hand 12 16,027 84,259 100,286 13,8001 96,486 7,600 101,113 108,713 13,923) 104,790 Credltors: Amount falling due within one year Net Current assets 13 Total assets less current Ilabllltles 96,486 104,790 Credltors: Amounts falllng due after more than one year Net assets excludlng penslon asset or Ilablllty 14 139,0001 57,486 141.6001 63,190 Total net assets 57,486 63,190 The funds of the charlty Restrlrted funds Restricted income funds 15 26,962 26,962 32,942 32,942 Unrestrlcted funds General funds 15 30,524 30,247 30,524 30,247 Reserve5 15 Total funds 57,486 63,190 These accounts have been prepared In accordance with the speclal provisions of Part IS of the Companies Act 2006 relating to small companies. For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtaln an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibS1ities for complying with the requlrements of the Companies Act 21x16 with respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2025 And nits half by: A. McFarlane Trustee 31 March 2025 Page 13
North Smethwlck Development Trust Notes to the Accounts forthe year ended 31 March 2025 l Accountln8 policies Basls of preparation The financial statements have been prepared in accordance with Accounting and Reportin8 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 leffective I January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basls of accountln8 or to prevlous accounts There has been no change to the accountlng policies (valuation rules and method of accounting) since last year and no chan8es have been made to accounts for prevlous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees In f urtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve repre5entin8 the restatement of investment asset5 at their market va lue5. These are available for use subject to restriction5 imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charlty become5 entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliabilitv. Income wlth related Where income has related expenditure the income and related expenditure is expenditure reported gr055 in the SOFA. Donations and legacies Voluntary income received by way of grants, donatlons and gift5 is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the Income. Tax reclaims on Income from tax reclaims Is Included In the SOFA at the same time as the donations and gifts gift/donatlon to which it relates. Donated service5 These are only included in income (with an equivalent amount in expenditure) and facilitie5 where the benefit to the Charity 15 reasonably quantifiable, measurable and materia l. Volunteer help The val ue of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(lossesl on This includes any gain or loss resulting from revalu ing investments to market value revaluation of fixed at the end of the year. assets Gains/{lossesl on investment assets This includes any gain or loss on the sale of investments. Page 14
North Smethwlck Development Trust Notes to the Accounts Expendlture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities Services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an atcrual for grants that have been approved by the trustees at the end of the year but not yet paid. These Include those costs associated with meeting the constitutional and statutory requ irements of the Charity, including any audit/independent examination fees, C05t5 linked to the strategic management of the Charity, together with a Share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Grants payable Governance costs Taxatlon The charity is exempt from corporation tax on its charitable activities. Trade and other debtors Trade and other debtors are recogni5ed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents cornprise cash at bank and on hand, demand dep051ts with banks and other short-term highly liquid investments with ori8inal maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown with in borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other credltors Short term creditor5 are measured at the transaction prlce, Other creditors and provi5Ions are recognised where the charity has a present obligation resultin8 from a past event that will probably result in the transfer of f unds to a third party and the amount due to settle the obli8ation can be measured or estimated reliably. Creditors and provisions are normally recognlsed at thelr settlement amount after allowing for any trade di5count5 due. Penslon c05t5 The charity operates a defined contribution plan for its employees. A defined contribution plan is pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amount5 not paid are shown in accruals in the balance sheet. The as5et5 of the plan are held separately from the company in independently adm ini5tered fund5. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 15
North Smethwlck Development Trust Notes to the Accounts 3 Income from donatlons and legacles Unrestrlcted Total Total 2025 2024 Donations 122 122 237 122 122 237 4 Income from charltable actlvltles Unrestrlcted Restrlcted Total Total 2025 2024 Grants 45,872 45,872 56,371 56,371 102,243 102,243 188,523 188,523 S Income from other tradlng actlvltl•s Unrestrlcted Total Total 2025 2024 Car Park Income 23,842 8,146 61,602 22,074 115,664 23,842 8,146 61,602 22,074 115,664 23,468 4,411 54,369 16,181 98,429 Brasshouse Pantry Room Hire Cafe Sales 6 Income from Investments Unrestrlcted Total Total 2025 2024 Bank interest 1,657 1,657 1,657 1,657 1,732 1,732 7 Other Income Unr•strlcted Total Total 2025 2024 20,218 20,218 20,218 20,218 11,168 11,168 Page 16
North Smethwlck Development Trust Notes to the Accounts 8 Expendlture on charltable actlvitles Unrestrlcted Restrlcted Total Total 2025 2024 Expenditure on choritt7ble activities Project Activity Costs 17,022 43,569 60,591 91,704 Costs recharged to grants 16,134) 16,134) {23,399) Governance costs 34 34 41 10,922 43,569 54,491 68,346 9 Other expendlture Unrestrlrted Restrlcted Total Total 2025 2024 Employee costs Motor and travel costs 120,703 1,719 22,598 19,836 7,371 172,227 17,488 138,191 1,719 22,598 21,237 7,371 191,116 142,725 1,051 43,822 25,028 6,107 218,733 Premises costs General administrative costs 1,401 Legal and professional c05tS 18,889 10 Net (expendlturelllncome before transfers 2025 2024 This Is stated after cha rging: Independent Examlner's fee 11 Staff costs 1,200 1,200 2025 2024 Salarles and wages Pension costs 131,745 6,446 138,191 136,358 6,367 142,725 No employee received emoluments in excess of £60,000. Total employee benefits received by key management personnel 13 13 The average monthly number of full time equivalent employees during the year was as follows: 2025 Number 2024 Number Management and Administration Play Worker- Casual Staff Car park staff - Casual Staff 13 13 Page 17
North Smethwl¢k Development Trust Notes to the A¢¢ounts 12 Debtors 2025 2024 Trade debtors 16,027 16,027 7,600 7,600 13 Credltors: amounts falling due within one year 2025 2024 Other loans Trade creditors Accruals 2,600 2,600 125 1,198 3,923 1,200 3,800 14 Credltors: amounts falllng due after more than one year 2025 2024 Other loans 39,000 39,000 41,600 41,fA)J Liabilities repayable in more than flve years after the balance sheet date Amount repayable by instalments 39,000 39,000 41,600 41,600 15 Movement In funds Incomln8 resources At31 March (Includln8 At l Aprll other 2024 8alns/losses) Resources Gross expended transfers 2025 Restrlcted funds: Restrlcted Income funds: Restricted funding 32,942 56,371 162,4581 107 26,962 Total 32,942 56,371 162,4581 107 26,962 Unrestrlrted funds: General funds 30,247 183,533 1183,1491 11071 30,524 Total funds 63.189 239,904 1245,6071 57,486 Purposes and restrictions in relation to the funds: Restricted funds.. Restricted funding Page 18
North Smethwick Development Trust Notes to the Accounts 16 Analysls of net assets between funds Unrestrlcted funds Total Net current assets Creditors due in more than one year and provisions 96,486 96,486 139,0001 139,0001 57,486 57,486 17 Reconclllatlon of net debt At31 March 2025 At l Aprll 2024 Cash flows Cash and cash equivalents 101,113 101,113 116,854) 116,854) 84,259 84,259 8orrowings 144,2001 144,2001 2,600 2,600 141,6001 141,6001 Net debt 56,913 114,2541 42,659 18 Commltments Operating lease commitments Annual commitments under non-cancellable operating leases are as follows.. 2025 Land and bulldlngs 2025 2024 2024 Land and bulldlngs Other Other Operatlng lease5 Wlth expiry date: Penslon commltments 2025 2024 The penslon cost charge ta the company amounted to: 6,446 6,367 19 Related party dlsclosures Controlling party The company is limited by guarantee and has no share capital; thu5 no single party controls the company. Page 19