Werneth and Freehold Communlty Development Project Charity No. 1035594 Company No. 02889356 Trustees, Report and Unaudlted Accounts 31 March 2024
Werneth and Freehold Community Development Project Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Finarbcial Activities Summary Income and Expenditure Account Balance Sheet io Statement of Cash flows li Notes to the Accounts 12 Detailed Statement of Financial Activities 20 PaRe I
Werneth and Freehold Community Development Project Trustees Annual Report Werneth and Freehold Community Development Project The trvstees. who are a150 directors of the charity for the purpose5 of the Companies Act 2006. present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 02889356 Charity No. 1035594 Registered and Prlncipal Offlce 14 Tamworth Street Werneth Oldham OL9 7QU Dlrectors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: Shirley Dickson Stephanie Gill Tina Graham Linda Nuttall Karen Whitworth Key Management Personnel Vice Chair Treasurer Tina Graham Steph Gill Secretary Spon50ring Group representatlves Freehold Community School., No nominations received UK Islamic Mi55ion'. No nominations received Pakistani Cultural Association.. No nominations received Werneth Jamia M05que: No nominations received Christ Church, Chadderton,. Linda Nuttall Margret Parret Community Representatives: Karen Whitworth Tina Graham Steph Gill PaRe Z
Werneth and Freehold Community Development Projert Trustees Annual Report Co-options; Senior Staff Members: Yvonne Burtonwood - Gayle Cooper- Jill Griff iths Project Co-ordinator Early Years and Office Manager Finance Manager Accountants Pennine Accounting Limited 109A Church Street Littleborough Lancashire OL15 8AA Bankers Co-operative Bank PLC POBox250 Delf House Southway Skelmer5dale WN8 6WT Structure, Governance and Management The organisatlon is a charitable company, limited by guarantee, incorporated on 19th January 1994 and registered as a Charity on 24th March 1994. 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. In the event of the company being wound up members are required to contribute an amount not exceedin8 £1 Recrultment and Appolntment of Mana8ement Committee The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Under the requirement of the Memorandum and Articles of Association the Mana8ement Committee shall comprise of not less than seven and not more than twenty six members made up as follow5.. a} Up to three representatives may be appointed by each of the following groups: UK Islamic Mission Pakistani Cultural Association Christ Church, Chadderton, Parochial Church Council Freehold Community School • Werneth Jamia Mosque Such other groups a5 may be admitted to membership of the organisation from time to time. b} Up to seven elected representatives of the communitv served by the Project, such representatives to be elected at the Annual General Meeting, from amongst the membership. cl Such person5 as may be co-opted by the Management Committee {not being more than one third of the total number of the Management Committee) who shall have full voting rights. Trustee Indurtlon and Training PaAe 3
Werneth and Freehold Community Development Projert Trustees Annual Report New trustees are invited and encouraged to attend training sessions to familiarise themselves with the charity and the context in which it operate5. These are jointly led by the Chair of the Management Committee and the Project Co-ordinator and cover: al The obligations of the Management Committee members bl The main documents which set out the operational framework for the charity including the Memorandum and Articles of Association cl Resourcing and the current financial position as set out in the latest published accounts d) Future plans and objectives. There is also an annual meeting for the Management Committee to reflect and to do some forward planning. Risk Managernent Procedures are in place to ensure compliance with current legislation and good practice to erssure the health and safety of staff, volunteers, service users and vlsitors to the Project. The staff work in different locations, all premises and activities are risk assessed. All staff undertake relevant training to reduce rlsk. The pre-school operates under the OFSTED framework and staff undertake training to ensure the high standard of work is maintained. We have counteracted the risk of inadequate fundlng by looking to some long-term funding schemes. Organisatlon Structure The Werneth and Freehold Community Development Project has a Management Committee of members who meet every eight weeks. These members are representatives from local residents and organisations. The committee is representative of the local community in terms of its mix of people from different ethnicity, cultures, religions, Bender and a8e. The committee are responslble for the strategic dlrection/policies of the charity, The day to day management is delegated to the Project Co-ordinator and senior staff team. The Co-ordinator Is also responsible for ensurin8 that the charity delivers services specified by funders and key performance indicators are met. It is the responsibility of the Project to deliver quality services which respond to the needs specif led by the local community. Policies to achieve oblectlves The Project aims to meet the needs of the people of the Freehold area of the Werneth Ward and the surroundin8 area5 of Oldham This area is one of serious social and economic disadvantage. The Project works on community development principles, supporting people and meeting their need to be valued and SUPPOrted and, in particular, enabled to work individually or corporately to improve the quality of their lives. The Project aims to reduce inequality and disadvantage, and to promote understanding and friendship across potential and actual barriers of race, culture, and religion. It is making a small contribution to the more just multi-cultural society, to which it is in our common interest to aspire. The Project meets its aims through the employment of staff, the development of partnerships with other agencies and by the use of volunteers and trainees on placement. The Werneth and Freehold Community Development Project Limited IWFCDPI is committed as an equal opportunities employer to eliminating all forms of discrimination, whether based on race. sex, disability, sexual orientation, age or religious belief. both through its work, and through its employment policy and practices. We consider such forms of discrimination to be demoralising for those who are affected and divisive and degrading for those who practice discrimination. PaRe 4
Werneth and Freehold Community Development Project Trustee5 Annual Report Development, activities and achievement5 in the year The following section 8ive5 an overview of our work full details in annual report. As the Project Co-ordinator l am very proud of the whole staff team, management committee and volunteers for the difference they make every day and the hard work they have done this year. WFCDP continues to use its, practicallf inancial and human resources to 5UPPOrt the delivery of the charities aims and objectives, which is vital in these challenging times due to the cost of living crisis. Development Work Our priorities for the year have been: Health and well being involving 8ardening, walking groups, cookery class, advice sessions around cooking on budget. Mental wellbeing red ucing isolation and conf idence building through our common interest groups. WFCDP had funding to run a popular confidence building programme with the aim of getting people back into employment, training , or further education In partnership with Oldham Lifelong Learning we have ran arrange of classes including English, sewing , craft Our Support for women/ familie5 living in difficult circumstances continued and our worker is available for one to one support throughout the week. • Support famllies and individuals to access available schemes such as foodbanks , digital access , clothes, food package. Our volunteer programme restarted and we welcomed students on placement from local college and universities. We have ran many events bringing communlties together across different culture and generations Mens work began in the evenings through partnership work with new volunteers Work wlth Chlldren (2-11 years} We continue to manage the Panda Pre-school Playgroup operatin8 from Christ Church Community Rooms. We are allowed up to 41 children per session 5 mornings and 3 afternoons a week, term tlme onlv. In our second Pre-school in Coppice. we are allowed 20 children per session and open 5 mornings and 5 afternoons per week, term time only. Partnership Work Partnership work is one of WFCDP strength5. We work with a range of both statutory and voluntary organisations. These include Oldham life Lon8 Learnin8, Christ Church, OMBC, Great Places Housing , Oldham Women Network partner5, Oldham Poverty Group, Local district team and Oldham Action Together. Staff Training and Prolect Development Staff have undertaken various courses and professional development throughout the year. We have worked to raise our profile in the community, we have formalised our 'branding' for both the organisation and the pre-schools. We have updated WFCDP web pa8e . Senior staff team Project Co-ordinator, Finance Manager,Early Years and Office Manager. Staff team 2 x Pre-school Managers, 2 x Deputy Managers and 10 x Assistants,4 development workers. administrator apprentice and a cleaner. PaRe 5
Werneth and Freehold Community Development Projett Trustees Annual Report The management committee have supported the project throughout the year and as always their support has been invaluable during this time. Public Benef it The trustees have had regard to the guidance on public benef it published by the Charity Commission. Financial Matters General funds showed a surplus of £4,614 in the year. At the year-end general funds carried forward were £146,422 and restricted f unds carried forward were £71,237 We are continuing with last year's f unding strategy which continues to Measure the current impact and we have undertaken a risk assessment for the coming year. We have a monthly review of our funding position. We have secured new funding streams this year and a rented rooms to a company 3 days a week. Core funding is also continuing in 2023124 and the Trustee5 consider the financial position of the Project to be sat15factory. Reserve5 Policy The Trustees have reviewed the organisation's need for reserves and consider that a minimum of three month's running costs should be retained in general funds. At the year end the general f unds met this tar8et. Under our reserves policy trustees designated funding to enhance the work of the charity. ConcSuslon The Project has continued to maintain and develop its work in accordance with its agreed priorities. Audit ExemptSons The trustee5 have decided to take advantage of the audit exemption provisions of the Companies Act. 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 financia I statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charlty and hence taking reasonable steps for the prevention and detection of fraud and other irre8ularitles. The above report ha5 been prepared in accordance with the provisions applicable to companies SLtbject to the small companies regime as set out in Part 15 of the Companies Act 2006 and In accordance with the Charities SORP IFRS 1021. 51gned on behalf of the board Tina Graham Trustee 27 November 2024 Pa%e 6
Werneth and Freehold Community Development Project Independent Examiners Report Independent Examiner's Report to the trustees of Werneth and Freehold Community Development Project I report to the charity trustees on my examination of the financial statements of Werneth and Freehold Community Development Project for the year ended 31 March 2024. Responsibilities and basls of report As the charity's trustees of the company land also its directors for the purposes of company lawl YOLA are responsible for the preparation of the financial statements in accordance with the requirement5 of the Companies Act 20061'the 2006 Act. Having satisfied myself that the f inancial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l. In carryi ng out my examination I have followed the Direction5 given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's statement As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of FMAAT, which is one of the listed bodies. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in accordance with 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 requirement that the financial statements give a 'true and fair, 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 principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. lan Cunningham FMAAT Penni ne Accounting Llmlted 109A Church Street Littleborough Lancashire OL15 8AA 27 November 2024 PaRe 7
Werneth and Freehold Communlty Development Project Statement of Financial Activities for the year ended 31 March 2024 Unrestricted funds 2024 Restricted funds Total funds Total f unds 2024 2024 2023 Notes Income and endowments from: Donations and legacie5 Charitable activities 39,801 367.877 407,678 332,007 Total 39,801 367,877 407.678 332,007 Expenditure on: Charitable activities 34,126 365,336 399,462 314,520 Total 34,126 365,336 399,462 314,520 Net gains on investments Net Income 5,674 2,542 8.216 17,487 Transfers between funds 11,0861 1,086 Net income before other gainsl(losse51 4,588 3,628 8,216 17,487 Other galns and losses Net movement in funds 4,588 3,628 8,216 17,487 Reconclliation of funds: Total funds brought forward 141,808 67,635 209,443 191,956 Total funds carrled forward 146,396 71,263 217,659 209,443 PaAe 8
Werneth and Freehold Community Development Project Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 407,678 332,007 Gross Income for the year 407,678 332,007 Expenditure 399,462 314.520 Total expendlture for the year Net income before tax for the year 399,462 314,520 8,216 17,487 Net Income for the year 8,216 17,487 Pae 9
Werneth and Freehold Community Development Projert Balance Sheet at 31 March 2024 Company No. 02889356 Notes 2024 2023 Flxed assets Tangible assets Current assets Debtors io 801 2,066 236.517 238,583 129,1411 209,442 Cash at bank and in hand 247,363 248,164 130,5061 Creditors: Amount falling due within one year li Net current assets 217,658 Total assets less current liabilitle5 217,659 209,443 Net a55ets excludlng pension asset or liabillty 217,659 209,443 Total net assets 217,659 209,443 The funds of the charity Restrlcted funds Restricted income funds 12 71,263 71,263 67,635 67,635 Unrestrlcted funds General fund5 12 146,396 141,808 146,396 141,808 Reserves 12 Total funds 217,659 209,443 These accounts have been prepared in accordance with the special provlsions of Part 15 of the Companies Act 2006 relating to small companles. For the year ended 31 March 2024 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 obtain an audit In accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 27 November 2024 And signed on its behalf by.. Tina Graham Trustee 27 November 2024 PaRe 10
Werneth and Freehold Community Development Project Statement of Cash flows for the year ended 31 March 2024 2024 2023 Cash flows from operating activities Net income per Statement of Flnancial Artlvlties 8,216 17,487 Adjustments for: Other gainsllosses Decrease in trade and other receivables Increase in trade and other payables 1,265 1,176 7,101 6,582 Net cash provlded by operatlng activities 10,657 31,171 Net cash from Investlng actlvltles Net cash from flnancing activities Net Increase in cash and cash equivalents 10,657 31,171 Cash and cash equlvalents at the beginnlng of the year 236,517 205,345 Cash and cash equivalents at the end of the year 247,174 236,516 Components of cash and cash equivalents Cash and bank balances 247,363 236,517 247,363 236,517 Pa2e 11
Werneth and Freehold Community Development Project Notes to the Accounts for the year ended 31 March 2024 l Accountlng pollcles Basis of preparation The f inancial 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 Sta ndard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151 Icharities 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 accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charitv. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terrns of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included i n the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure 15 expendlture reported gross In the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional Èntitlement to thÈ income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time a5 the donations and gifts gift/donation 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 is reasonably quantifiable, measurable and material. Volunteer help The value of any vol unteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gain5111ossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. PaRe 12
Werneth and Freehold Community Development Project Notes to the Account5 Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any V AT 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 vol untary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the cost5 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 accrual 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 requirements of the Charity, including any audit/independent examination fees, costs 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. Grant5 payable Governance costs Taxation The charity is exempt from corporation tax on Its charitable activities. Tan8ible flxed assets and depreclation Depreclation is provided at the followin8 annual rates In order to write off each asset over its estimated usef ul life: Fixtures, Fittings, & Equipment 33.3% Straight Line Stocks Stock Is Included at the lower of cost or net realisable value. Donated Items of stock 3re recognised at fair value which Is the amount the charity would have been willlng to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised 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 comprise cash at bank and on hand, demand dep051ts with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdraft5. In the statement of financial position, bank overdrafts are shown within 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. PaRe 13
Werneth and Freehold Community Development Project Note5 to the Account5 Trade and other creditor5 Short term creditors are measured at the transaction price. Other creditors and provisions are recogni5ed where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to Settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset. the lease is treated as a f inance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classif led as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obli8ation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expense5 are recognised immediately, unless they are directly attributable to qualifying assets, In which case they are capitalised in accordance with the charity's pollcy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recoénised a5 a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been pa id the company has no further payments obligations. The contributions are reco nised 3$ expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held sepa rately f rom the company in independently administered funds. Recelpt of donated goods, facllltles and 5ervi¢¢s All donated good5, facilitie5 and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Pae 14 ¥
Werneth and Freehold Community Development Project Note5 to the Accounts 3 Statement of Financial Activlties - prior year Unrestricted funds Restricted fund5 Total funds 2023 2023 2023 Income and endowments from: Charitable activitie5 44,079 287,928 332,007 Total 44,079 287,928 332,007 Expendlture on: Charitable activities 49,854 264,666 314,520 Total 49,854 264,666 314,520 Net income 15,7751 23,262 17,487 Transfer5 between funds 27.833 127,8331 Net income before other 8alns/{losses} Other gains and losses: Net movement in funds 22,058 14,5711 17,487 22,058 14,5711 17,487 Reconciliation of funds: Total funds brought forward Total funds carrled forward 119,750 72,206 191,956 141,808 67,635 209,443 4 Income from donatlons and legacles Total Total 2024 2023 Restricted funds carried forward will be utilised In the current year. 5 Income from charltable actlvities Unrestricted Restrlcted Total Total 2024 2023 Oldham M8C- main service provision Panda Preschool 39,801 39,801 44,079 265.980 265,980 101,897 407,678 197,555 90,373 332,007 Other projects and services 101.897 39,801 367,877 Page 15
Werneth and Freehold Community Development Project Notes to the Accounts 6 Expenditure on charitable activities Unre5trlcted Restrlcted Total Total 2024 2023 Expenditure on charitable activities Oldham M8C- main service provision Panda Preschool 34,126 34,126 49,854 242,390 122,946 242,390 122,946 198,306 66,360 Other projects and services Governonce costs 34,126 365,336 399,462 314,520 7 Net income before transfers 2024 2023 This is stated after charging: Independent Examiner's fee 8 Staff costs 1,140 950 2024 7,528 7,528 2023 Penslon costs No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows.. 2024 2023 Number 23 Number 21 21 23 The charity provides a defined contribution Workplace Pension scheme with NEST 9 Tan8lble fixed assets Flxtures, Flttlngs, & Equlpment Total Cost or revaluation At l April 2023 At 31 March 2024 Depreclation and impairment At l April 2023 At 31 March 2024 25,217 25,217 25,217 25,217 25,216 25,216 25,216 25,216 Net book values At 31 M3rch 2024 At 31 March 2023 PaRe 16
Werneth and Freehold Community Development Project Notes to the Accounts 10 Debtors 2024 2023 Trade debtors Prepayments and accrued income 200 385 601 1,681 2,066 801 11 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals Deferred income 8,420 20,446 1,640 6,997 20,686 1,451 30,506 29,141 P3Re 17
Werneth and Freehold Community Development Project Note5 to the Accounts 12 Movement in funds Incomlng resources At31 March Resources Gross transfers (including At l Aprll other 2023 galns/lossesl expended 2024 Restricted funds: Restricted income funds: Panda Preschools Small Grants FCHO & Cost of Living & Action Together Digital Inclusion Resilience Fund Domestic Violence NLDC Life Long Learning National Lottery 47,672 973 265,980 1242,3901 12,0001 71,262 1,027 1731 4,047 12,000 171 3,023 20,075 120,0001 14,048 112,0501 120,3621 16,5261 157,9601 121 50 20,362 3,500 57,960 Total 67,635 367,877 1365,3361 1,086 71,263 Unrestrlcted funds.. General funds 141.808 39,801 134,126) {1.0861 146,396 Total funds 209,443 407,678 1399,4621 217,659 Purposes and restrictions in relation to the funds.. Restricted funds: Panda Preschools Small Grants FCHO & Cost of Living & Action Together Digital Inclusion Resilience Fund Domestic Violence NLDC Life Long Learning National Lottery 13 Analysls of net assets between funds Pre-school Health & Wellbeing through diet and exercise Children and families with Cost of Livin8 Children and families with Cost of Living Cost of Living Support Families in crisis Community based classes & training Health & Wellbeing & Training Unrestrlcted funds Re5tri¢ted funds Total Fixed assets Net current assets 217,632 217,633 26 217,658 217,659 26 PaRe 18
Werneth and Freehold Community Development Project Notes to the Accounts 14 Reconcillatlon of net debt At31 At l April 2023 March 2024 Cash flow5 Cash and cash equivalents 236,S17 236,517 10,846 10,846 247,363 247,363 Net debt 236,517 10,846 247,363 15 Commitments Operatlng lease commitments Annual commitments under non-cancellable operating leases are as follows., 2024 Land and buildings 2024 2023 Land and buildlngs 2023 Other Other Operating leases with expiry date.. Within one year 360 360 16 Related party dlsclosures Controlllng party The company is limited by guarantee and has no share capital; thus no slngle party controls the company. PaRe 19
Werneth and Freehold Community Development Projert Detailed Statement of Financial Activities for the year ended 31 March 2024 Unrestrlcte d funds 2024 Restricted fund5 Total funds 2024 Total funds 2023 2024 Income and endowments from.. Charitable activities Oldham M8C- main service provision Panda Preschool Other projects and services 39,801 39,801 44,079 265,980 101,897 367,877 265,980 101,897 407,678 197,555 90,373 332,007 39,801 Total Income and endowments 39,801 367,877 407,678 332,007 Expenditure on: Charitable activities Oldham M8C- main service provision Panda Preschool Other projects and services 34,126 34,12S 49,854 242,390 122,946 365.336 242,390 122,946 399,462 198,306 66,360 314,520 34,126 Total of expenditure on charltable activities 34,126 365,336 399,462 314,520 General administrative costs, including depreciation and amortisation Depreciation of Fixtures, Fittings, & Equipment Total expenditure Net gains on Investments 34.126 365,336 399,462 314,520 2.542 8,216 17,487 Net income 5,674 Transfers between funds 11,0861 1,086 Net income before other gainsl(losses) Other Gains 8,216 17,487 4,588 3,628 Net movement in funds 4,588 3,628 8,216 17,487 Reconclliation of tunds: Total funds brought forward 141,808 67,635 209,443 191,956 Total funds carrled forward 146,396 71,263 217,659 209,443 Pae 20