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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 03034328 (England and Wales) REGISTERED CHARITY NUMBER: 1045893

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Chair of the Trustees Report 1
Report of the Trustees 2 to 11
Report of the Independent Auditors 12 to 15
Statement of Financial Activities 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Cash Flow Statement 19
Notes to the Financial Statements 20 to 32
Detailed Statement of Financial Activities 33 to 35

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

CHAIR OF THE TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

SWALLOW celebrated its 30th birthday in the year covered by this report. Despite considerable growth over this time, its ethos of providing the highest possible quality of care and putting members, their needs and wishes, front and centre remains at the heart of all SWALLOW’s work. SWALLOW could not achieve this without its dedicated staff team, guided and informed by the management committee. Members’ responses at the Evaluation Day showed the value they placed on mutual friendships and on the support of the whole staff team, expressing how difficult they found it when staff left.

The Birthday celebrations included a Barn Dance at Tucker’s Grave and a 30 for 30 Challenge Month which saw many members and friends taking up new challenges to raise money for SWALLOW.

A Corporate Friends group was launched and saw local businesses beginning to engage both with practical and financial support, but also considering how to help members into employment. We are especially grateful for the support of the Somerset Toiletry Company who are launching a new soap for SWALLOW.

SWALLOW is deeply grateful to Stephen Barran, our out-going Chair of Trustees, who retired from SWALLOW in March 2024 after 10 years of service to the organisation and its members. His wisdom and experience will be truly missed. We were pleased to welcome Roger Winsley and Phil Edmonds to the Trustee Board this year, bringing expertise in building and finance respectively.

The Trustees spent much of the year working with the Senior Management Team to develop a robust strategic plan which would guide SWALLOW over the next 5 years and beyond. The plan looked at how we could best continue supporting members with housing and living skills, day activities, employment and work skills and their health and well-being. One of the first actions was to assess the members’ future needs and to hear from members, their parents and carers regarding their priorities.

This year has seen more members begin attending courses, and the cafes continued to be popular with members and the community, showcasing their catering skills to the wider community. New grants were received, enabling the start of a Forest Group and an Activity Day at the Hive.

These developments are set against a backdrop of extremely challenging financial pressures and, as we look into the current year, we know that we will struggle to maintain the services that are so vital for our members. The Trustee Board and Senior Management Team will be working very hard to control costs, whilst at the same time trying to attract enough income to ensure that our staff team are recompensed fairly and to aid recruitment. It is important that SWALLOW can continue to carry out its vital work for its members (and their families) for the next 30 years.

Jill Souter

Chair

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and principal activities

The charity's objects and principal activities are to benefit all local teenagers and adults with learning disabilities, providing supported housing, education and related services.

The main activities of the organisation are:

  1. Supported housing

  2. Outreach support in the community

  3. Independent living skills training

  4. Therapeutic courses and day activities

  5. Supported employment and employment training, including craft and horticulture activities and the SWALLOW Community Café in Radstock and at the Hive in Peasedown St John

  6. Healthy living and fitness activities

  7. Social activities to reduce social isolation

  8. Information and advice

  9. Youth Group for 13-18 year olds to aid transition from school to the adult world.

Each year the Trustees review the charity's objectives and activities to ensure that they continue to reflect our aims. In carrying out this review the Trustees have considered the Charity Commission's general guidance on public benefit.

All of our activities welcome all teenagers and adults with learning disabilities regardless of personal background, faith, gender or personal circumstances. We do make some charges towards activities, but these are often subsidised and concessions are offered where possible to those on low incomes to make them affordable to all.

Volunteers

SWALLOW has a dedicated team of volunteers who support the work of the charity in a variety of roles. Our Trustee Board and our members on the Management Committee all give their time for free and we have a growing number of people helping in all areas of our work, making a vital contribution.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The aim of the charity is to maximise the support offered to teenagers and adults with learning disabilities, and to give them the skills and opportunities that they need to live full and independent lives. SWALLOW uses its resources to achieve these aims. The Chairman's Report outlines the main achievements of the organisation this year.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Fundraising activities

We have seen a significant rise in money from voluntary sources this year, this is following the implementation of recommendations from the Fundraising Strategy that was developed last year. Looking forward the climate for raising funds is not so positive and every penny raised is vitally important. The charity is extremely grateful to all its supporters, especially the Friends and Corporate Friends of SWALLOW, for their regular commitment and generosity. This year we are celebrating the power of friendship.

FINANCIAL REVIEW

Principal funding sources

Most of the funding for SWALLOW services comes on an individual basis through personalised budgets for teenagers and adults with learning disabilities, which are set and approved by Bath and North East Somerset Council (B&NES), but what support each individual buys from providers is decided by that member in discussions with his/her carer. Some funding for supported housing comes from individuals' direct payments. This funding is directly related to the tenants and the support needs for which they have been assessed. SWALLOW also receives a grant from the local authority, through HCRG group, to cover costs associated with tenants’ housing support needs and member led activities and support.

The remainder of SWALLOW’s income is raised from voluntary sources such as charitable trusts, companies, fundraising events and individual donations. This funding gap has increased dramatically this year, due to the need to increase staff wages in line with inflation and the National Minimum Wage and not receiving a similar uplift from the Local Authority.

Investment policy and performance

The Trustees keep our investment policy under constant review due to the rapidly changing financial market conditions. Our portfolio of deposits with a variety of banks on the Flagstone Platform, via CAF, have benefited from the increase in interest rates. Our investment in medium risk investment funds, made last year, has also made steady progress and is an important diversification of our reserves, and has already proved to be a sound decision. Details of this investment is shown in the accounts.

Reserves policy

The Trustees have reviewed the need for reserves in line with the guidance issued by the Charity Commission and have determined the following policy, which will be reviewed annually:

The Trustees recognise that there is a voluntary income risk in the current economic climate, a social enterprise income risk in current market conditions, the ongoing changes within public sector funding and reduced donations arising from the volatility due to the pandemic and other world factors.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Reserves policy

From discussions at the Trustee Board, it has been decided that SWALLOW may maintain reserves for a variety of purposes including, but not limited to, the following:

a) To enable the services provided to teenagers and adults with learning disabilities to continue during any period of disruption in the charity's income;

b) To cover set up costs for new service initiatives, prior to income being received;

c) To cover necessary ongoing costs and finance any legal obligations if a major source of funding ceases, either voluntarily or compulsorily, causing parts of the business to cease.

Unrestricted Reserves

As part of its annual budget-setting, the Trustees will consider the level of unrestricted reserves it is appropriate for the charity to keep to meet its obligations, to hedge against possible risks and to fund its future plans. The Trustees have agreed that for the current year unrestricted reserves should be in the range of between £436,726 and £873,452, which represents 3 to 6 months of annual expenditure. The Trustees will continue to monitor the unrestricted reserves during the financial year.

Restricted Reserves

Restricted reserves are held when money raised in the previous year for specific charitable activities remains unspent at the year end and is carried over to be spent in future years.

Accounting

This year we have again undertaken a full audit of the Charity's accounts, as the income threshold of £1million set by the Charity Commission has been exceeded.

Review

At 31 March 2024, Unrestricted Reserves, as defined, amounted to £640,815 compared to a target range of three to six month's running costs, ie £436,726 and £873,452.

Review of the charity's financial position

In the year to March 2024, covered by these accounts we have achieved a modest surplus of £31,770. This result is against a forecasted deficit for the year and represents some very hard work by all those involved to control costs and attract additional income.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FUTURE STRATEGY

The need for the services that SWALLOW provides remains as vital today, as it was when the charity was founded in 1993. In fact, we are needed now more than ever and by more and more people.

The charity now supports over 170 people, helping them to live positive and healthy lives, to demand more and reach their goals. Being user led has meant that the support we provide is what our members want, and by listening to them we empower them and give them confidence to ask for more.

At our recent Evaluation Day, more supported housing was seen as a key goal and we are hoping that we can drive this forward in partnership with the local authority with parents and carers. Employment is also key, and our two cafes show the local community exactly what adults with learning disabilities can contribute to the world of work. Our members do not want hand outs they want to earn their money and contribute to society. Our work skills employment scheme gives them the opportunity to make this happen.

SWALLOW is a big family and as we look to the future we want that family to grow so that we are able to help even more people.

Here are SWALLOW's plans for the year in each area, these are informed, as always, by the wishes of our members.

Supported Housing – our priority is to grow the supported housing that we offer and to provide security and support for people into the future. We will work closely with the local authority and social housing providers to identify new potential homes for members.

Outreach – tailormade packages of support allowing people to access the community and to get the best out of life, supporting them with day to day tasks as well as activities to enhance their lives.

Base House - is SWALLOW's training house, based in Midsomer Norton, teaching teenagers and adults with learning disabilities independent living skills and also providing our members and their families and carers much needed respite. Demand is high for this unique service and part of the strategy review identified a need for a second Base House but this would take significant investment.

Day Activities and Courses – we have a range of activities during the week, at the SWALLOW offices and at local community venues. This year, in response to members’ feedback we have added a Forest Group which is very popular.

Employment - our three strands of work skills are craft based, horticulture and the two Community Cafes, we also encourage supported employment opportunities within SWALLOW and support individuals to look for work outside the charity, working with local employers. This is an area of focus and we aim to help members towards their dream of meaningful employment.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FUTURE STRATEGY

The two SWALLOW Community Cafés -both cafes provide a warm and welcoming safe space offering very reasonably priced nutritious food, whilst giving SWALLOW members training and experience in catering. The cafes show the local community what people with learning disabilities can achieve.

Social, Sports and Youth Activities – we are always listening to members to what they want to do and this guides our range of social and health and fitness activities including dancing and Zumba, cycling, trips and visits to local attractions. The aim is to keep fit and healthy whilst having fun with friends, reducing social isolation and boosting mental and physical wellbeing.

Caring for the staff team – the staff team at SWALLOW is what makes it special, our staff are caring, empathetic and dedicated. As employers we provide training and support and we encourage individuals to grow and develop in their roles.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated and registered as a charity on 17 March 1995. 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 exceeding £10. The total number of such guarantees at 31 March 2024 was 173 (2023- 164).

Recruitment and appointment of the Board of Trustees

Members of the Board of Trustees, who are Directors for the purpose of company law and Trustees for the purpose of charity law, are elected at the AGM to serve for a period of 3 years after which they must be re-elected at the next AGM.

As the charity is user-led and works with teenagers and adults with learning disabilities, it is important that the Trustee Board members have empathy and understanding of the needs of SWALLOW's members. Trustees are recruited, as required, through a variety of media, both local and national. The aim is to recruit individuals with a broad range of skills to complement those we already have within the Trustee Board.

Trustees are asked to provide a list of their skills and update it each year so that skills gaps can be identified. Potential Trustees are given an NCVO pack outlining the roles and responsibilities of Trustees as well as attending a preliminary meeting to ensure that Trustees are aware of the commitment involved.

Organisational structure

The Trustee Board meets every six weeks and is responsible for the strategic direction, financial viability and overall well-being of the Charity. Its aim is to ensure that the resources of the Charity are applied to the maximum benefit of the members. The Chief Executive, Fundraising and Finance Manager and the HR Manager also attend the Board Meetings.

As SWALLOW is a user-led organisation, we also have a Management Committee made up of thirteen members. This group also meets six weekly and advises and guides the Trustee Board on members' wishes and needs. At least one Trustee attends each meeting and reports back to the Trustee Board.

The day to day running of the organisation is the responsibility of the Chief Executive. Reporting to the Chief Executive are the Fundraising and Finance Manager, the Registered Manager, who oversees our Supported Housing, Base House and Outreach, as well as the HR Manager and the Courses Manager.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees

New Trustees undertake an extensive and comprehensive induction and training programme, which includes:

  1. Meetings with the Chair of Trustees, the Chief Executive and other senior members of staff

  2. Visits to the Head Office, Redfield Road, The Hawthorns and Base House and the SWALLOW Community Café

  3. Attending a Management Committee (members) meeting

  4. Information pack including the governing documents and policies and procedures, recent financial information and strategic documents and action plan

Risk review

The Trustee Board, in compliance with the SORP, conducts an annual review of the major risks to which the charity is exposed. A risk register has been established and, where appropriate, systems or procedures have been established to mitigate the risks faced and a sub-committee of the Trustee Board has been formed to review the risk register on a regular basis and report back to the Board.

The organisation continually looks to review and monitor services in line with local authority and Care Quality Commission requirements, to ensure the highest quality is maintained.

In considering the major risks to the charity, the Trustees have recognised that the most influential one would be the loss of funding to its core business. In this respect, the Trustees are implementing a policy of diversification and are extending the activities of the Charity to include other related projects and opportunities for people with learning disabilities wanting to live independent lives. This will help the Charity to strengthen its financial position and continue to achieve the original objectives of the Constitution.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03034328 (England and Wales)

Registered Charity number 1045893

Registered office

The Old Engine House Old Pit Road Midsomer Norton Radstock BA3 4BQ

Trustees

S Barran (resigned 27.3.24) J W Freeman A C German S Hawkey C Negus M Roper J Souter (Chair of Trustees) (appointed 27.3.24) D M Vaughan C P Winpenny P Edmonds (appointed 15.1.24) R Winsley (appointed 15.1.24)

Company Secretary

N Tew

Auditors

PG Owen Limited Chartered Accountants and Statutory Auditors 124 High Street Midsomer Norton, Bath, Avon BA3 2DA

Solicitors

Thatcher and Hallam Island House Midsomer Norton BA3 2HJ

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling, Kent ME19 4JQ

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS Patron

J Cullum DL

Hon Vice Presidents

K F Atkinson A E F Quinn E Rawlings

Senior Management Team

B Craney J Willcox M Gibbs N Tew

Chief Executive Registered Manager Human Resources Manager Fundraising and Finance Manager

RESULTS

The Net Incoming Resources for the year to 31 March 2024 amounted to £31,770 (2023 - £7,834). Restricted Reserves at 31 March 2024 amounted to £38,589 (2023 - £28,119) and Unrestricted Reserves amounted to £640,815 (2023 - £619,515).

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of South West Action for Learning and Living Our Way Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which 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 those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IAARCH 2024 STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware. and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitsble companls auditors are aware of that information. AUDITORS The auditors, PG Owen Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on its behalf by: and signed on P EdTnonds - Trustee Pagell

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

Opinion

We have audited the financial statements of South West Action for Learning and Living Our Way Ltd (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements 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 financial statements in the UK, including 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

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 identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being 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 assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

Our responsibilities for the audit of the financial 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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) 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 decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows;

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

To address the risk of fraud through management bias and override of controls, we;

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOLITH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD Our responsibilities for the audit of the financial statements In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation reading the minutes of meetings of those charged with governance", enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.ukJauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, 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 Gompany's members as a body, for our audit work. for this report. or for the opinions we have formed. R N Browning BA{Hon FCA FAIA (Senior Statutory Auditor) for and on behalf of PG Owen Limited Chartered Accountants and Statutory Auditors 124 High Street Midsomer Norton Bath Avon BA3 2DA 91K Od&• 2) Page 15 Owen Limited 1>1 A'lv >--

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
77,896
Charitable activities
5
Activities to further charity's objectives
1,496,105
Other trading activities
3
18,560
Investment income
4
28,944
Total
1,621,505
EXPENDITURE ON
Raising funds
6
794
Charitable activities
7
Direct charitable expenditure
1,511,516
Management and administration
87,895
Total
1,600,205
NET INCOME
21,300
RECONCILIATION OF FUNDS
Total funds brought forward
619,515
TOTAL FUNDS CARRIED FORWARD
640,815		 2024
2023
Restricted
Total
Total
fund
funds
funds
£
£
£
54,071
131,967
74,783
-
1,496,105
1,371,385
-
18,560
28,555
-
28,944
9,875
54,071
1,675,576
1,484,598
-
794
4,538
33,470
1,544,986
1,332,498
10,131
98,026
139,728
43,601
1,643,806
1,476,764
10,470
31,770
7,834
28,119
647,634
639,800
38,589
679,404
647,634

The notes form part of these financial statements

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets Investments 13 42.890 14 112,654 42,890 112,654 34,794 102.180 155,544 155,$44 136.974 CURRENT ASSETS Debtors Cash at bank and in hand 15 118.216 480,947 118,216 519,536 90,838 524,960 38.589 599.183 38,589 637.752 615,798 CREDITORS Amounts falling due within one year 16 (113,892) (113,892) (105,138) NET CURRENT ASSETS 485.271 38,589 523,860 510,660 TOTAL ASSETS LESS CURRENT LIABILITIES 640,815 38,589 679,404 647,634 NET ASSETS 640,815 38,589 679,404 647,634 FUNDS Unrestricted funds Restricted funds 18 640.815 38,589 619,515 28,119 TOTAL FUNDS 679,404 647.634 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by: P Edmonds - Trustee The notes form part of th¢$e financial statements Page 17

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations
1		 1,142 3,364
Net cash provided by operating activities 1,142 3,364
Cash flows from investing activities
Purchase of tangible fixed assets (25,036) (18,929)
Purchase of fixed asset investments - (100,000)
Interest and investment income received 18,470 7,695
Net cash used in investing activities (6,566) (111,234)
Change in cash and cash
equivalents in the reporting (5,424) (107,870)
period
Cash and cash equivalents at
the beginning of the reporting 524,960 632,830
period
Cash and cash equivalents at
the end of the reporting period 519,536 524,960

The notes form part of these financial statements

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the
Statement of Financial Activities) 31,770 7,834
Adjustments for:
Depreciation charges 16,781 13,951
Loss on disposal of fixed assets 159 -
Gains on investments during year (10,474) (2,180)
Interest and investment income received (18,470) (7,695)
Increase in debtors (27,378) (20,639)
Increase in creditors 8,754 12,093
Net cash provided by operations 1,142 3,364

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 524,960 (5,424) 519,536
524,960 (5,424) 519,536
Total 524,960 (5,424) 519,536

The notes form part of these financial statements

Page 19

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 25% on cost Equipment for houses - 25% on cost Office equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 20

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Fixed asset investments

In line with the Charities SORP (FRS 102) fixed asset investments represents an investment portfolio intended to be held for more than 12 months, to generate income and capital growth for the charity.

These investments are valued at open market value as at the end of the accounting year with any revaluation gain/losses being charged to the Statement Of Financial Activity within that accounting year.

continued...

Page 21

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES
Donations - miscellaneous
Paulton & District Skittle League
Norwest Bowls Club
The Big Gig
Bath Gospel Choir
Bath Half Marathon Sponsorship
Glastonbury Festival Stewards
The Radstock Co-operative Society
The Medlock Charitable Trust
Stoke Park Group Friend’s Fund
Chelwood Bridge Rotary
Garfield Weston Foundation
The Roper Family Charitable Trust
Rackvernal Old School Hall Trust
Midsomer Norton and Radstock Community Minibus
Simmons and Simmons
Wesport
Maximus Employment Support
David Solomons Charitable Trust
The Hartfield Charitable Trust
Clark Foundation
Wessex Water
Radstock Town Council
Westfield Parish Council
BANES Wellness
Midsomer Norton & Radstock Rotary Club
Radstock and Westfield Big Local Dragons Den
The Society of Merchant Venturers
BBC CIN
The Leonard Laity Stoate Charitable Trust
WERN
The Baily Thomas Charity
Bath Boules
Waitrose
ASDA
National Grid
Midsomer Norton Methodists Carol Service
Quartet Resilience Programme
The Hedley Foundation
NHS BANES,Swindon and Wiltshire ICB
The Somerset Masonic Charity
Masonic Charitable Fund
Midsomer Norton and Radstock Lions Club
Bath and West Community Energy Fund Grant		 2024
£
25,505
1,500
1,554
500
-
8,591
2,800
-
2,000
-
-
-
20,000
3,800
8,000
3,500
-
-
-
976
-
-
1,000
116
-
1,250
500
-
10,413
1,000
700
12,000
1,400
-
700
1,264
150
10,086
2,817
4,595
2,500
2,500
250
-		 2023
£
12,985
-
-
-
225
1,607
930
750
-
2,633
200
10,000
15,000
-
-
-
4,600
2,500
1,000
-
540
2,906
1,000
975
2,000
3,000
500
2,000
1,510
-
-
-
-
350
-
-
1,100
-
-
-
-
-
2,472
131,967 74,783

continued...

Page 22

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

3.
OTHER TRADING ACTIVITIES
Membership income
Consultancy fees
4.
INVESTMENT INCOME
Gains on investments
Bank interest and investment income
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Supported living
Activities to further charity's objectives
Housing benefit & rent
Activities to further charity's objectives
Work skills
Activities to further charity's objectives
Grants
Activities to further charity's objectives
Fitness club
Activities to further charity's objectives
Music workshop
Activities to further charity's objectives
Arts and crafts
Activities to further charity's objectives
Base house stays
Activities to further charity's objectives
Drama and yoga course
Activities to further charity's objectives
Young people income
Activities to further charity's objectives
Orchard Hall activities
Activities to further charity's objectives
Courses
Activities to further charity's objectives
Café takings
Activities to further charity's objectives
Grants received, included in the above, are as follows:
B&NES Funding
B&NES Supporting People
B&NES Infection Control		 2024
2023
£
£
816
1,254
17,744
27,301
18,560
28,555
2024
2023
£
£
10,474
2,180
18,470
7,695
28,944
9,875
2024
2023
£
£
616,195
564,473
156,424
146,522
225,211
194,153
72,900
90,771
3,901
3,735
1,133
740
33,066
34,407
164,938
151,516
53,823
51,044
994
779
35,882
26,968
43,869
28,396
87,769
77,881
1,496,105 1,371,385
2024
2023
£
£
26,209
25,588
46,691
47,087
-
18,096
72,900
90,771

continued...

Page 23

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6. RAISING FUNDS

Other trading activities

Other trading activities
2024 2023
£ £
Bad debts (780) 905
Fundraising events 1,574 3,633
794 4,538

7. CHARITABLE ACTIVITIES COSTS

Direct charitable expenditure
Management and administration		 Support
Direct
costs (see
Costs
note 8)
Totals
£
£
£
454,087
1,090,899
1,544,986
(159)
98,185
98,026
453,928 1,189,084 1,643,012

8. SUPPORT COSTS

SUPPORT COSTS
Governance
Management Finance costs
Totals
£ £ £ £
Direct charitable expenditure 1,029,994 60,905 - 1,090,899
Management and administration - 82,729 15,456 98,185
1,029,994 143,634 15,456 1,189,084
2023
2022
£ £
Management 128,299 114,887
Accountancy & legal fees 6,209 5,072
Auditors' remuneration 5,220 4,920
139,728 124,879

continued...

Page 24

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Auditors' remuneration 5,758 5,220
Depreciation - owned assets 16,781 13,951
Deficit on disposal of fixed assets 159 -

10. TRUSTEES' REMUNERATION AND BENEFITS

No remuneration was paid to the Board of Trustees in the period.

Trustees' expenses

During the year ended 31 March 2024 trustees' expenses amounted to £nil (2023 £nil)

11. STAFF COSTS

STAFF COSTS
2024 2023
£ £
Wages and salaries 1,177,879 1,048,732
Social security costs 83,915 74,424
Other pension costs 32,462 28,766
1,294,256 1,151,922

The average monthly number of employees during the year was as follows:

Support staff
Projects staff
Administration/support staff		 2024
39
27
17
83		 2023
38
16
16
70

continued...

Page 25

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

Staff costs were as
follows:
Wages and salaries
Social security
costs
Pension costs
 Support
£
920,565
67,149
25,917
1,013,631		 Projects
£
202,055
12,699
4,967
219,721		 Admin
£
55,259
4,067
1,578
60,904		 2024
£
1,177,879
83,915
32,462
1,294,256
2023
£
1,048,732
74,423
28,767
1,151,922

continued...

Page 26

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
Total
funds
fund		 funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 47,307 27,476 74,783
Charitable activities
Activities to further charity's objectives 1,371,385 - 1,371,385
Other trading activities 28,555 - 28,555
Investment income 9,875 - 9,875
Total 1,457,122 27,476 1,484,598
EXPENDITURE ON
Raising funds 4,538 - 4,538
Charitable activities
Direct Charitable expenditure 1,314,762 17,736 1,332,498
Management and administration 134,244 5,484 139,728
Total 1,453,544 23,220 1,476,764
NET INCOME 3,578 4,256 7,834
RECONCILIATION OF FUNDS
Total funds brought forward 615,937 23,863 639,800
TOTAL FUNDS CARRIED FORWARD 619,515 28,119 647,634

continued...

Page 27

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

13. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
ImprovementsEquipment
to for Office
property houses equipment
Totals
£ £ £ £
COST
At 1 April 2023 18,466 19,266 50,141 87,873
Additions 6,614 6,151 12,271 25,036
Disposals - (762) - (762)
At 31 March 2024 25,080 24,655 62,412 112,147
DEPRECIATION
At 1 April 2023 9,284 13,671 30,124 53,079
Charge for year 3,758 2,864 10,159 16,781
Eliminated on disposal - (603) - (603)
At 31 March 2024 13,042 15,932 40,283 69,257
NET BOOK VALUE
At 31 March 2024 12,038 8,723 22,129 42,890
At 31 March 2023 9,182 5,595 20,017 34,794

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
At 1 April 2023 102,180
Revaluations 10,474
At 31 March 2024 112,654
NET BOOK VALUE
At 31 March 2024 112,654
At 31 March 2023 102,180

continued...

Page 28

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. FIXED ASSET INVESTMENTS - continued

There were no investment assets outside the UK.

Cost or valuation at 31 March 2024 is represented by:

Unlisted
investments
£
Valuation in 2024 10,474
Valuation in 2023 2,180
Cost 100,000
112,654

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 100,000 100,000

Fixed asset investments were valued on an open market basis on 31 March 2024 by LGT Wealth Management.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£
Trade debtors
50,496
Prepayments and accrued income
67,720
118,216		 2023
£
44,501
46,337
90,838

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£ £
Trade creditors 15,624 13,019
Social security and other taxes 19,434 15,250
Other creditors 10,997 9,820
Accrued expenses 67,837 67,049
113,892 105,138

continued...

Page 29

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024
£
Within one year
94,813
Between one and five years
6,974
101,787		 2023
£
89,767
1,991
91,758

18. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement
At 1.4.23 in funds At 31.3.24
£ £ £
Unrestricted funds
General Funds 579,515 21,300 600,815
Designated Funds 40,000 - 40,000
619,515 21,300 640,815
Restricted funds
Restricted Funds 28,119 10,470 38,589
TOTAL FUNDS 647,634 31,770 679,404

Net movement in funds, included in the above are as follows:

Incoming Resources
resources
expended
£
£
Unrestricted funds
General Funds
1,621,505 (1,600,205)
Restricted funds
Restricted Funds
54,071
(43,601)
TOTAL FUNDS
1,675,576 (1,643,806)		 Movement
in funds
£
21,300
10,470
31,770

continued...

Page 30

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.22 in funds At 31.3.23
£ £ £
Unrestricted funds
General Funds 575,937 3,578 579,515
Designated Funds 40,000 - 40,000
615,937 3,578 619,515
Restricted funds
Restricted Funds 23,863 4,256 28,119
TOTAL FUNDS 639,800 7,834 647,634
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General Funds 1,457,122 (1,453,544) 3,578
Restricted funds
Restricted Funds 27,476 (23,220) 4,256
TOTAL FUNDS 1,484,598 (1,476,764) 7,834

continued...

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SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. RELATED PARTY DISCLOSURES

Transactions with related parties have been identified in the period as J McConnell and L Souter as they are SWALLOW members who are related to senior staff or trustees. Transactions in the period total £4,939 and £8,731 respectively and closing balances due from each are £950 and £695 respectively. These transactions have taken place at arms length.

20. PURPOSE OF RESTRICTED RESERVES

Restricted Reserves amounting to £38,589 are being carried forward to be spent in the year ended 31 March 2025. This is made up as follows:

A donation from BBC Children in Need of £1,788

A donation from The Bailey Thomas Charitable Fund of £3,336 towards a work skills employment senior

A donation from the Bath Boules Charitable Trust of £244 towards sweaters for the football team consisting of members of SWALLOW

A donation from Stoke Park Friends Fund of £3,000 to organise cultural and educational trips for members

A donation from The Hedley Foundation of £2,817 towards garden upkeep sessions

A donation from Hartfield of £976 for parent and carers support sessions

A donation from the Bath Half Fund for cycling sessions for £1,564

A donation from Somerset Masonic of £5,000 for the Forest school

A donation from Medlock charity of £2,000 to fund a HIVE activity day

A donation from NHS BANES, Swindon and Wiltshire of £3,197 to aid digitalising adult social care

A donation from MN&R Lions of £250 towards a shed for the Forest school

A donation from Radstock County Council of £1,000 towards pop up art events at the Radstock Cafe

Donations totalling £13,417 relate to capital expenditure which will be allocated against restricted reserves over the useful economic life of the asset, in line with accounting policy for depreciation.

Page 32

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations - miscellaneous
Paulton & District Skittle League
Norwest Bowls Club
The Big Gig
Bath Gospel Choir
Bath Half Marathon Sponsorship
Glastonbury Festival Stewards
The Radstock Co-operative Society
The Medlock Charitable Trust
Stoke Park Group Friend’s Fund
Chelwood Bridge Rotary
Garfield Weston Foundation
The Roper Family Charitable Trust
Rackvernal Old School Hall Trust
Midsomer Norton and Radstock Community Minibus
Simmons and Simmons
Wesport
Maximus Employment Support
David Solomons Charitable Trust
The Hartfield Charitable Trust
Clark Foundation
Wessex Water
Radstock Town Council
Westfield Parish Council
BANES Wellness
Midsomer Norton & Radstock Rotary Club
Radstock and Westfield Big Local Dragons Den
The Society of Merchant Venturers
BBC CIN
Leonard Laity Stoate
WERN
The Baily Thomas Charity
Bath Boules
Waitrose
ASDA
National Grid
Midsomer Norton Methodists Carol Service
Quartet Resilience Programme
The Hedley Foundation
NHS BANES,Swindon and Wiltshire ICB
The Somerset Masonic Charity
Masonic Charitable Fund
Midsomer Norton and Radstock Lions Club
Bath and West Community Energy Fund Grant		 2024
£
25,505
1,500
1,554
500
-
8,591
2,800
-
2,000
-
-
-
20,000
3,800
8,000
3,500
-
-
-
976
-
-
1,000
116
-
1,250
500
-
10,413
1,000
700
12,000
1,400
-
700
1,264
150
10,086
2,817
4,595
2,500
2,500
250
-
131,967		 2023
£
16,985
-
-
-
225
1,607
930
750
-
2,633
200
10,000
15,000
-
-
-
4,600
2,500
1,000
-
540
2,906
1,000
975
2,000
3,000
500
2,000
1,510
-
-
-
-
350
-
-
1,100
-
-
-
-
-
2,472
74,783

This page does not form part of the statutory financial statements

Page 33

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

FOR THE YEAR ENDED 31 MARCH 2024
2024 2023
£ £
Donations and legacies
Other trading activities
Membership income 816 1,254
Consultancy fees 17,744 27,301
18,560 28,555
Investment income
Gains on investments 10,474 2,180
Bank interest and investment income 18,470 7,695
28,944 9,875
Charitable activities
Supported living 616,195 564,473
Housing benefit & rent 156,424 146,522
Work skills 225,211 194,153
Grants 72,900 90,771
Fitness club 3,901 3,735
Music workshop 1,133 740
Arts and crafts 33,066 34,407
Base house stays 164,938 151,516
Drama and yoga course 53,823 51,044
Young people income 994 779
Orchard Hall activities 35,882 26,968
Courses 43,869 28,396
Café takings 87,769 77,881
1,496,105 1,371,385
Total incoming resources 1,675,576 1,484,598
EXPENDITURE
Other trading activities
Bad debts (780) 905
Fundraising events 1,574 3,633
794 4,538

This page does not form part of the statutory financial statements

Page 34

SOUTH WEST ACTION FOR LEARNING AND LIVING OUR WAY LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

FOR THE YEAR ENDED 31 MARCH 2024
2024 2023
Charitable activities £ £
Wages 202,054 244,824
Social security 12,699 16,774
Pensions 4,967 4,203
Rent 140,091 128,682
Cleaning 8,281 7,761
Repairs 19,842 21,550
Members evaluation 682 1,301
Learning materials & Cafe cost 45,869 39,414
Travel and subsistence 19,443 17,590
453,928 482,099
Support costs
Management
Wages 920,565 755,912
Social security 67,149 54,727
Pensions 25,917 23,174
Training & recruitment 16,363 16,586
1,029,994 850,399
Finance
Wages 55,260 47,996
Social security 4,067 2,923
Pensions 1,578 1,389
Insurance 11,782 10,694
Light and heat 15,028 10,469
Telephone and postage 4,796 5,845
Printing and stationery 11,887 12,559
Sundries 14,661 15,449
Bank charges 2,512 2,375
Subscriptions and licences 5,123 4,649
Depreciation of tangible fixed assets 16,781 13,951
Loss on sale of tangible fixed assets 159 -
143,634 128,299
Governance costs
Auditors' remuneration 5,758 5,220
Accountancy & legal fees 9,698 6,209
15,456 11,429
Total resources expended 1,643,806 1,476,764
Net income 31,770 7,834

This page does not form part of the statutory financial statements

Page 35