Registered Company Number: 02953857 Registered Charity Number: 1049059
The No Way Trust Limited (A Company Limited by Guarantee)
Financial Statements
31% July 2023
The No Way Trust Limited
Contents of the Financial Statements for the year ended 31st July 2023
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 9 |
| Report ofthe Independent Auditors | 10 | to | 12 |
| Statement of Financial Activities | 13 | ||
| Balance Sheet | 14 | ||
| Cash Flow Statement | 15 | ||
| Notes to the Cash Flow Statement | 16 | ||
| NotestotheFinancialStatements | 17 | to | 25 |
The No Way Trust Limited
Report of the Trustees for the year ended 31st July 2023
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 31st July 2023. 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).
Chief Executives Report 2023
It has been another successful year for The No Way Trust Charity though the elongated effects of the cost-of-living crisis and high inflation did bring some financial challenges and are the reason for a small year-end deficit. No Way Trust reserves have therefore fallen slightly, though overall, remain positive.
Nevertheless, with detailed forward planning, prudent fiscal management and tremendous support from our unwavering and inspirational investors, philanthropy, due diligence, and leadership of No Way Trust (NWT) Trustees, Senior Management Team, Youth Advisory Group, outstanding Staff and Volunteers, exceptional partners, and a strong demand from schools and other youth organisations for our services; we were able to mitigate potential financial risks and plot a positive course forward.
During the year there has sadly been a noticeable rise in challenging behaviour in school settings and in the community, especially in deprived areas. Knife Crime, County Lines, Gang Rivalry, Youth Violence, Social Media misuse, Domestic Abuse, Exploitation, Anti-Social Behaviour etc are all on the rise and a cause for concern. Further compounded by increasing Child poverty on a scale not seen for decades and the younger generation facing enormous challenges in an increasingly unpredictable world. This has brought an ever-increasing demand for our interventions, with new enquiries received daily. We are working tirelessly to keep costs low, enhance funding streams and expand our services for many more young beneficiaries, whilst ensuring we retain the quality of the services for which we are revered.
We currently offer three main programmes; Your Choice Days - for Primary school children aged 9 to 11; Crime and Safety Awareness Days - for secondary school young people aged 12 to 16; and a range of bespoke presentations for young people aged between 11 & 18. We again worked face to face with over 40,000 children and young people during this fiscal year.
The University of Sheffield Independent Evaluation conducted between April 2022 and July 2023 provided some outstanding recognition for the work we do and made recommendations to aid future development of our learning services. Further information is incorporated in the Trustees report which form part of these Annual Accounts. The full detailed evaluation is available in a separate report. The outcomes of the evaluation are already assisting in enhancing our charitable services further.
Despite all the accolades that our charity receives, the challenges for our Children and young people are real, changing rapidly and worryingly growing ever greater. Our charity remains absolutely focussed on their health, well-being, and long-term future. Our ethos is built upon a can-do mentality, and by ensuring our ever-evolving programmes continue to be in tune with today's children and young people needs and we are dedicated to helping the neediest, most vulnerable, and underprivileged.
It is clear, that our vast range of area specific programmes are helping to positively influence young lives, improve decision making, lower risky behaviour, avoid criminal activity and stay safe. With over 30 years of experience in this field of work, the impact we are making, is profound. | and this charity will be forever indebted to everyone, past and present, that has been a part of the journey to date. By continuing to provide the absolute best learning experiences available, we will better enable many more children and young people to live better, healthier and crime free lives in the future.
Paul Wilkinson The No Way Trust Chief Executive
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The No Way Trust Limited
Report of the Trustees for the year ended 3ist July 2023
STRATEGIC REPORT
Financial results
As a small charity The No Way Trust Ltd qualifies for an ‘Independent Examination’. For reasons of transparency, Trustees voluntarily require a full Independent Annual Audit’ be carried out, far exceeding legislative requirements. The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.
Reserves
The financial year included the ‘Cost of Living Crisis’. However, due to prudent financial management and a more regionally focussed working strategy, we were able to mitigate the impact. We posted a small year-end deficit of £4,257, that in consideration of inflation peaking at over 10% during the year; (which neither the Bank of England nor the Government predicted); Trustees consider it to have been another very successful year for The No Way Trust and accumulatively there is a still a positive carry forward in reserves at year end.
The Board of Trustees have established a reserves policy whereby the unrestricted funds held by the charity should be between 3 to 6 months of the resources expended. Trustees remain determined to achieve this level of reserves at the earliest opportunity.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity, founded in 1993, is registered with the Charity Commission under registration number 1049059 and the Office of the Scottish Charity Regulator SC040325 and at Companies House as a non-profit-making Company Limited by Guarantee registration number 02953857. In the event of the company being wound up, each member has guaranteed to contribute to any liabilities to a maximum amount of £10 each. The charity is governed by Memorandum and Articles of Association agreed and adopted 25th August 1995 and amended by special resolution 8th March 2004, further amended 19th January 2009 and 11th September 2017.
Recruitment and appointment of management 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. A Trustee shall be appointed by resolution of the Trustees for a term of three years and at the expiry of that term and any subsequent terms approved by the Trustees shall be eligible for re-appointment by the Trustees for another three year term or such other term as the Trustees shall determine at their discretion.
The Management Committee seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body.
Organisational structure
Trustees meet five times annually for general meetings and once a year for the Annual General Meeting which usually takes place in January. At present the Committee has five members from a variety of professional backgrounds relevant to the work of the charity.
A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Chief Executive. The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.
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The No Way Trust Limited
Report of the Trustees for the year ended 31st July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Most trustees are already familiar with the practical work of the charity having been involved for several years. Additionally, new trustees are invited and encouraged to attend a series of short training sessions (of no more than an hour) to familiarise themselves with the charity and the context within which it operates. These are jointly led by the Chair of the Management Committee and the Chief Executive of the charity and cover:
The obligations of Management Committee members. (A copy of the Charity Commission Essential - Trustee booklet CC3 and CC3a are normally provided.)
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The main documents that set out the operational framework for the charity are included in the ‘Articles
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- of Association’.
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Resourcing and the current financial position as set out in the latest published accounts.
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Business plan and objectives.
Risk management
The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is constantly under review, being updated at least annually. Appropriate Safe Systems of Work or other procedures have been adopted to mitigate these risks.
Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the sub-finance committee and procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, and beneficiaries.
Public benefit
In presenting this report Trustees have regard for the Charity Commission's guidance on public benefit and consider that this falls within "The Advancement of Education for the Public Benefit".
The outcomes of The No Way Trust, following their work with children and young people include;
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A greater understanding of how the law and justice work,
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A greater understanding of the causes, consequences, and impact of crime and anti-social behaviour,
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Guiding them towards making better choices, stay safe, reducing risky behaviour, and avoid crime,
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- Signposting avenues of help and support,
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Support and advice for those who have a loved one in prison,
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- Support for young victims of crime, . Increased awareness that poor choices made now could impact their future, - Equipping young people with the skills and opportunities they need to reach their potential.
This translates into a better quality of life for the young, their communities, less victims of crime and a reduction in costs, either personal or financial for the general public.
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The No Way Trust Limited
Report of the Trustees for the year ended 31st July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Background
The No Way Trust Charity was founded in 1993 by 3 prison officers concerned about the number of young people coming into contact with the criminal justice system. The aim being to prevent children and young people from becoming involved in crime and anti-social behaviour and learn about the law, justice, causes, consequences, and impact of crime.
In 1995, The No Way Trust Limited became a registered charity and company limited by guarantee, but it will always be known affectionately by its’ original name-Prison! Me! No-Way! which continues to define its brand.
Since 1993 the Trusts' work has impacted on more than 2500 Secondary Schools and some 2000 + other children and youth organisations including youth groups and charities, excluded, disadvantaged, and disaffected pupils, Pupil Re-Integration Units, Youth Offending Services and more etc. etc. The Trust also works in some Primary Schools. The Trust works face to face with over 40,000 children and young people annually. We provide an array of flexible learning services through No Way Trust staff & volunteers who are trained in the delivery of a wide range of high-quality professional, accurate, realistic, truthful, impactive and memorable sessions.
The Trust employs 23 staff on varied contracts equivalent to approximately 16 full time staff who are based in our Head Office in Hull and locations around the country.
Vision
Our vision is one where every young person leaves school with the knowledge and confidence to take control, make positive choices that avoid becoming involved in crime, stay safe and realise their full potential.
Mission statement
To raise awareness amongst young people, aged 8 to 18, about the causes, consequences, penalties, and impact of crime and anti-social behaviour. We want young people to stay safe, understand their rights and responsibilities as young citizens, aspire and be prepared to meet the challenges of modern society.
Values
The Trusts values are:
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Weare anot for profit organisation
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We take pride in delivering quality and value for money
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- The safety of young people is paramount to us - Weare one Trust: great things happen when we work together - We deliver what we commit to and communicate effectively with our partners - Innovation, integrity and making a difference in the lives of young people are the driving forces for our staff and volunteers
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The No Way Trust Limited
Report of the Trustees
for the year ended 31st July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Strategic aims
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The Aims of the Trust are to: - - Help young people to stay safe, prevent child exploitation in all its forms, reduce risky behaviour, and prevent more young victims of crime
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- Help children and young people to deal with life challenges and understand the impact of anti-social behaviour and crime upon them and their communities
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- Dispel the myths and misconceptions of imprisonment and accurately and sensitively portray the effects of imprisonment
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- Raise extensive awareness of, and impress upon all young people, the ultimate consequences and penalties of crime
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- Adapt a preventative approach but not be confrontational or employ any other form of scare tactic - Encourage responsible decision-making and positive life skill development and to instill the values and benefits of being a responsible young citizen
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- Develop progressive partnerships that incorporate inter-agency working and co-operation between like-minded agencies
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- Assist Offenders and Ex-Offenders in their rehabilitation Strategic objectives The Trust will seek to: - Deliver Crime & Safety Awareness Days across the country to secondary schools, whilst maintaining the quality of delivery for which we are renowned. Each day will be tailored to reflect the issues within each locality and involve crime and safety agencies appropriate to those issues
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- Work with primary school children, as we firmly believe that crime preventative work cannot start too early
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- Employ, mentor, and involve people with convictions still in prison or released from prison, that have already worked with the Trust, to deliver impactive workshops in schools
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- Continually develop in conjunction with the feedback from young people and our own Youth Advisory Group, innovative and interactive resources to assist us in the prevention of youth crime
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- Deliver presentations to young people across the country in varied settings such as schools, pupil referral units and in conjunction with partner agencies e.g. Emergency Services, Youth Justice etc.
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- Communicate with young people and our stakeholders using the most effective channels in a co-ordinated and strategic manner
Review of developments, activities and achievements
HMPPS Agreement
The partnership agreement with Her Majesty's Prison and Probation Service (previously known as the National Offender Management Service) continues to assist in the recruitment of Prison Staff and Serving Prisoner volunteers (living in open prison conditions) to attend and volunteer with us, in the knowledge that our training and professionalism greatly assist the Prison Service, HMPPS, career development and aids rehabilitation.
Crime and Safety Awareness Days
We delivered 137 of our unique days in the 12 months covered by this report, including many schools that we have visited year after year.
Your Choice Days
These days are specifically designed for Primary school children aged 9 to 11 and have been well received. We currently offer up to 40 YCDs per year working in some of the most disadvantaged communities. We believe that working with a younger audience can only help to keep them safe and avoid inadvertently becoming involved in criminal activity. We are committed to widening availability of YCDs as finances enable.
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The No Way Trust Limited
Report of the Trustees
for the year ended 31st July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Youth Advisory Group We havea very vibrant Youth Advisory Group (YAG) who meet regularly and attend our days, to ensure that we always deliver interventions that meet the needs of todays young people. YAG has carried out evaluations, consultations, and focus groups with young people at various locations across the country. YAG has used information gathered to identify what works well and provide constructive critique and recommendations to Crime Day leads, as well as ideas for improving the learning experience for our young audiences. The YAG group is always looking to recruit new members to widen experience and diversity of its structure.
People in Prison Presentations
The No Way Trust works with Her Majesty's Prison and Probation Service to support the rehabilitation of people in prison by offering them the opportunity to work with young people with the aim of preventing children and young people making similar mistakes in the future. Since our pilot in 2012 of employing People who had been in prison to deliver thought-provoking workshops to young people, we have to date employed a total of 14 in different parts of the UK. Pleasingly, we know that 6 of them have gone on to secure full-time employment, elsewhere, furthering their careers; we currently employ 3 people who have been in prison. The workshops continue to be in high demand right across the country and have contributed to diversifying our services and generating additional grants.
Social Media & Website
Our modern website keeps evolving and the number of enquiries generated through the website have soared and enabled many new schools and youth agencies to become involved.
Impact
The No Way Trust outcomes have been consistent and extremely positive for many years and has just reached the milestone of 30 years. During the past twelve months independent research conducted by the University of Sheffield, evidence that:
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The No Way Trust (NWT) is having a lasting impact and making a positive difference to children and young people's lives and future decision making.
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- The impact of NWT Crime & Safety Awareness Days (CSADs) was often evident in the post - CSAD behaviours of students.
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- CSADs prompt child disclosures. - The value of ‘lived learning experiences’ is profoundly valued and memorable for NWT young beneficiaries.
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NWT continuously improves by monitoring, developing, and evolving sessions to match locality and needs of different groups of students.
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CSADs go far beyond the restrictions of the usual school curriculum. This allows additional topics to be delivered to pupils which cannot usually be discussed/explored due to the many pressures on the national curriculum.
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CSADs provide exceptional, innovative, and thought-provoking material delivered by professionals.
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- People who previously participated in CSADs as a student are now requesting NWT to work with young people in their charge, in their adult career.
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- CSADs have influenced career choices. - NWT offers ex-prisoners a key pathway to reintegration, work experience anda living salary. - Participating in NWT assists volunteer prisoners to rebuild confidence, self-esteem, learn new skills, self-evaluate, and give back to the community.
A previous independent evaluation, completed by the Charities Evaluation Service also reported: CSADs helps prevent young people from becoming involved in criminal activity, messages are remembered by young people for several years or more, and that some young people involved at CSADs, subsequently applied something they learnt in dealing with a difficult situation.
Volunteers
The trust continues to have a strong pool of volunteers who assist in the delivery of our crime and safety awareness days and bespoke presentations across the country.
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The No Way Trust Limited
Report of the Trustees for the year ended 31st July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Future Plans Crime and Safety Awareness Days (CSADs) Demand for CSADs remains strong. Many schools have already re-booked their days, so the present financial year has increased activity scheduled, beyond that achieved last year. We will continue to focus on delivery in areas where we have a good nucleus of our volunteers available and where it is most cost-effective for us.
Your Choice Days Demand for YCDs in Primary Schools is growing and we are continuing to build capacity through the academic year - September 2023 and July 2024 - and beyond.
Bespoke Presentations
The number of presentations that we deliver will again be dependent on demand, as some schools that are unable to afford a full Crime & Safety Awareness Day, still wish us to interact with their pupils. We have a pricing structure that allows us to tailor activity to the school funds available.
Replica Prison Cells
Subject to generating sufficient funding NWT intends to replace two of its aging mobile replica prison cells during the next 12 to 24 months.
Business Plan 2024 - 2025
Will set a course for transition over the next 2 years and beyond.
Summary
The No Way Trust charity is one of the most highly regarded and respected charity's that exists in the United Kingdom today. This past two years has seen emergence of impressive new workshops, refinement of traditional workshops that have stood the test of time; with a constant focus on continuous service improvement and evolution enabling us to meet the demands of today's youth.
The Trust importantly ensures Children and Young People have a real and active stake in the project's evolution. This contributes towards ongoing programme innovation and keeping our learning services fresh, meaningful, relevant, and current for today's generation of children and young people.
The Trust has a proven can-do track record, and we receive enquiries every day for our learning services. Our workforce of staff and volunteers have a unique and incredible range of skills and knowledge that makes us well placed to work with children and young people. Serving and early retired police and prison staff, ex-people in prison employees and serving prisoner volunteers, magistrate volunteers, educationalists, young people, youth advisory group and many criminal justice, emergency service and charitable partners unite for a common good. So far as we can establish, there is nothing to compare with Prison! Me! No-Way! anywhere in the UK. Our personable approach is one of constant evolution, innovation, inclusivity, and partnership that together provides a cohesive, united, effective, varied, and unique range of life-enhancing learning experiences.
The feedback received this past year has again been quite outstanding and demonstrates the need for and value of our services. The No Way Trust's reputation for quality, innovation, can do mentality, rich history of over 30 years, never standing still, being prepared to take on new challenges, tread where others fear to go - inspired by the spirit and inner belief of an incredibly enthusiastic team of volunteers, staff, supporters and investors; who all have an infectious desire to make a genuine and long - lasting difference to young lives; is what this enviable reputation has been built upon.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02953857 (England and Wales)
Registered Charity number
1049059
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The No Way Trust Limited
Report of the Trustees for the year ended 31st July 2023
Registered office
The Deep Business Centre Tower Street Hull East Yorkshire HU1 4BG
Trustees Mr Stephen Rock - Chair Mrs Dawn Douglas Mrs Sandra Fawcett Mr David Grantham Mr Graham McDonald
Honorary President Mrs Jennie Byass
Company Secretary Pamela Gay
Auditors Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA Solicitors Rollits Citadel House 58 High Street Hull HU1 1QE
Bankers Lloyds Bank plc Hull City Centre 1 Grand Buildings Jameson Street Hull HU1 3UX
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees (who are also the directors of The No Way Trust Limited 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).
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The No Way Trust Limited
Report of the Trustees
for the year ended 3ist July 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
A resolution to appoint auditors for the ensuing year will be proposed at the annual general meeting in accordance with Companies Act 2006.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 22nd January 2024 and signed on the board's behalf by:
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Mr Stephen Rock -Le
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Report of the Independent Auditors to the Members of The No Way Trust Limited
Opinion
We have audited the financial statements of The No Way Trust Limited (the ‘charitable company’) for the year ended 31st July 2023 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).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31st July 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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- have been prepared in accordance with the requirements of the Companies Act 2006.
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.
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:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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- the Report of the Trustees has been prepared in accordance with applicable legal! requirements.
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Report of the Independent Auditors to the Members of The No Way Trust Limited
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:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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- the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
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.
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 focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, Charities Act 2011, taxation legislation, safeguarding, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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- tested journal entries to identify unusual transactions; assessed whether judgements and assumptions made in determining the accounting estimates were
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- indicative of potential bias; and - investigated the rationale behind significant or unusual transactions.
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Report of the Independent Auditors to the Members of The No Way Trust Limited
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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- 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 relevant regulators and legal advisors.
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
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.uk/auditorsresponsibilities. This description forms 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 company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Stephen Bramall BSc., FCA (Senior Statutory Auditor) for and on behalf of Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA
22nd January 2024
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The No Way Trust Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 3ist July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | E | £ | £ | E | |
| INCOME AND ENDOWMENTS FROM | |||||
| Charitable activities | 2 | ||||
| Core activities | 21,395 | 333,930 | 355,325 | 322,635 | |
| Other | 14,226 | 175,025 | 189,251 | 194,527 | |
| Other income | 4,250 | - | 4,250 | - | |
| Total | 39,871 | 508,955 | 548,826 | 517,162 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | 1,963 | 5,493 | 7,456 | 7,143 |
| Charitable activities | 4 | ||||
| Core activities | 27,221 | 502,331 | 529,552 | 474,263 | |
| Other | 9,347 | 6,728 | 16,075 | 13,531 | |
| Total | 38,531 | 514,552 | 553,083 | 494,937 | |
| NET INCOME/(EXPENDITURE) | 1,340 | (5,597) | (4,257) | 22,225 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 6,301 | 19,160 | 25,461 | 3,236 | |
| TOTALFUNDSCARRIEDFORWARD | 7,641 | 13,563 | 21,204 | 25,461 |
CONTINUING OPERATIONS
Allincome and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 13
The No Way Trust Limited
Balance Sheet 31st July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 11 | 12,133 | 14,063 |
| CURRENTASSETS | |||
| Stocks Debtors |
12 13 |
1,064 138,117 |
1,061 124,713 |
| Cash at bank and in hand | 66,317 | 92,989 | |
| 205,495 | 218,763 | ||
| CREDITORS | |||
| Amounts falling duewithin one year | 14 | (189,429) | (196,032) |
| NETCURRENTASSETS | 16,066 | 22,731 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 28,199 | 36,794 | |
| CREDITORS | |||
| Amounts falling due after more than oneyear 15 | (6,995) | (11,333) | |
| NETASSETS/(LIABILITIES) | 21,204 | 25,461 | |
| FUNDS | 19 | ||
| Unrestricted funds | 7,641 | 6,301 | |
| Restricted funds | 13,563 | 19,160 | |
| TOTALFUNDS | 21,204 | 25,461 |
The financial statements were approved by the Board of Trustees and authorised for issue on 22nd January 2024 and were signed on its behalf by:
Mr Graham McDonald - Trustee
The notes form part of these financial statements
Page 14
The No Way Trust Limited
Cash Flow Statement
for the year ended 31st July 2023
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2023|2022|
|Notes|£|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|1|(25,156)|(8,877)|
|Net cash|used|in|operating|activities|(25,156)|(8,877)|
|Cash|flows from|investing|activities|
|Purchase|of tangible|fixed|assets|(1,428)|(2,678)|
|Sale|of tangible|fixed|assets|4,250|-|
|Net|cash|provided|by/(used|in)|investing|activities|2,822|(2,678)|
|Cash|flows|from|financing|activities|
|Loan|repayments|in|year|(4,338)|(4,095)|
|Net cash|used|in|financing|activities|(4,338)|(4,095)|
|Change|in|cash|and|cash|equivalents|
|in|the|reporting|period|(26,672)|(15,650)|
|Cash|and|cash|equivalents|at|the|
|beginning|of the|reporting|period|92,989|108,639|
|Cash|and|cash|equivalents|at|the|end|
|of the|reporting|period|66,317|92,989|
----- End of picture text -----
The notes form part of these financial statements
Page 15
The No Way Trust Limited
Notes to the Cash Flow Statement for the year ended 31st July 2023
- : RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Net (expenditure)/income|for the|reporting|period|(as|per the|
|Statement|of Financial|Activities)|(4,257)|22,225|
|Adjustments|for:|
|Depreciation|charges|3,358|4,312|
|Profit on|disposal|of fixed|assets|(4,250)|:|
|Increase|in|debtors|(13,404)|(16,132)|
|Decrease|in|creditors|(6,603)|(19,282)|
|Net cash|used|in|operations|(25,156)|(8,877)|
----- End of picture text -----
- ANALYSIS OF CHANGES IN NET FUNDS
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|At|1/8/22|Cashflow|At|31/7/23|
|£|£|£|
|Net|cash|
|Cash|at bank|and|in|hand|92,989|(26,672)|66,317|
|92,989|(26,672)|66,317|
|Debt|
|Debts|falling|due|within|1|year|(3,824)|-|(3,824)|
|Debts|falling|due|after|1|year|(11,333)|4,338|(6,995)|
|(15,157)|4,338|(10,819)|
|Total|77,832|(22,334)|55,498|
----- End of picture text -----
The notes form part of these financial statements
Page 16
The No Way Trust Limited
Notes to the Financial Statements for the year ended 31st July 2023
- “( 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.
Income
Allincome 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.
Allocation and apportionment of costs
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, auditors remuneration, legal and professional fees, depreciation and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment 17% oncost Motor vehicles 15% on cost
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The 'No Way' Trust Limited is a UK registered charity, number 1049059. All the Charity's income is applied to its charitable objectives and the Charity is, therefore, exempt under current legislation from most forms of taxation.
Value added tax is not recoverable by the Charity and is charged to the statement of financial activities or balance sheet, as incurred.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 17
continued...
Notes to the Financial Statements - continued for the year ended 31st July 2023
The No Way Trust Limited
- ACCOUNTING POLICIES - continued
Fund accounting
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.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Hire purchase and leasing commitments
Amounts payable under operating leases are charged to profit and loss account when incurred.
Deferred income
Deferred income represents amounts received for charitable activities in advance of the event taking place less costs incurred to date.
Impairments
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Pension contributions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules.
Zz. INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| 2023 | 2022 | |
| Activity | E | E |
| Crime and safety | ||
| awareness days Core activities |
355,325 | 322,635 |
| Grants and donations Other |
189,251 | 194,527 |
| 544,576 | 517,162 | |
| Grant and donations comprise the following: | ||
| Amount | ||
| £ | ||
| Garfield Weston Foundation | 20,000 | |
| TheTUUT Charitable Trust | 15,000 | |
| The SirJames Reckitt Charity | 14,000 | |
| First Greater Western Ltd | 11,800 | |
| Charles Hayward Foundation | 10,000 | |
| Humberside Police | 10,000 | |
| The Robert McAlpine Foundation | 8,000 | |
| The Joseph and Annie Cattle Trust | 7,500 | |
| The John R Murray Charitable Trust | 5,000 | |
| WF Southall Charitable Trust | 5,000 | |
| Peter Stebbings Memorial Charity | 5,000 | |
| The 29th May 1961 Charitable Trust | 5,000 | |
| DavidFamilyFoundation | 5,000 |
Page 18
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
2. INCOME FROM CHARITABLE ACTIVITIES - continued
| Ed De Nunzio Charitable Trust | 5,000 |
|---|---|
| The Hedley Foundation | 4,000 |
| The Henry& Dora Needler Memorial Trust | 3,500 |
| Lochlands Trust | 3,000 |
| Richard Hudson | 3,000 |
| The Casey Trust | 3,000 |
| Persula Foundation | 3,000 |
| TheWalwyn Chapman Charitable Trust | 2,500 |
| Toy Trust | 2,500 |
| The Metis Trust | 2,000 |
| The Leigh Trust | 2,000 |
| Mr S Larrard | 2,000 |
| The Albert Hunt Trust | 2,000 |
| Carol Hudson | 2,000 |
| The Maud Elkington Charitable Trust | 1,500 |
| Belvedere Trust | 1,000 |
| The Gordon Trust | 1,000 |
| John Thaw Foundation | 1,000 |
| Mr S Martin | 1,000 |
| The Sydney Black Charitable Trust | 500 |
| TheAlchemy Foundation | 500 |
| The Hall Hunter Foundation | 500 |
| The Sylvia & Colin Shepherd Charitable Trust | 500 |
| Other Donations | 1,376 |
| Deferred Income Movement | 19,575 |
| 189,251 |
=
RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2023 | 2022 | |
| £ | = | |
| Conferences and seminars | 100 | - |
| Advertising, printing and stationery | 1,963 | 3,473 |
| Crime day enhancements | §,393 | 3,670 |
| 7,456 | 7,143 |
Page 19
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
| 4. | CHARITABLE ACTIVITIES COSTS | ||||
|---|---|---|---|---|---|
| Direct | Support | ||||
| Costs | (see | costs (see | |||
| note | 5) | note 6) | Totals | ||
| £ | £ | £ | |||
| Core activities Other |
§29,552 - |
- 16,075 |
529,552 16,075 |
||
| 529,552 | 16,075 | 545,627 | |||
| 5. | DIRECT COSTS OF CHARITABLE ACTIVITIES | ||||
| 2023 | 2022 | ||||
| £ | = | ||||
| Travelling and subsistence | 66,969 | 58,698 | |||
| Telephone mobile and internet | 4,782 | 4,656 | |||
| Motorexpenses | 17,207 | 17,359 | |||
| Rent | 13,245 | 13,421 | |||
| Wages and salaries | 391,412 | 350,924 | |||
| Postage | 168 | 444 | |||
| Depreciation | 3,022 | 3,921 | |||
| Insurance | 1,653 | 1,630 | |||
| Legal and professional | 20,664 | 12,964 | |||
| Sundry | 9,637 | 8,227 | |||
| Bank charges | 793 | 2,022 | |||
| §29,552 | 474,263 | ||||
| 6. | SUPPORT COSTS | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Wages and salaries | 3,954 | 3,595 | |||
| Auditors’ remuneration | 5,800 | 4,282 | |||
| Rent | 1,471 | 1,491 | |||
| Legal and professional | 2,296 | 1,458 | |||
| Sundry Meetings |
1,071 1,147 |
844 1,425 |
|||
| Depreciation | 336 | 436 | |||
| 16,075 | 13,531 |
Page 20
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
- NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Auditors'|remuneration|5,800|4,282|
|Depreciation|-|owned|assets|3,358|4,312|
|Surplus|on|disposal|of fixed|assets|(4,250)|-|
|Auditors'|remuneration|for|non|audit work|1,062|1,590|
----- End of picture text -----
- TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.
- STAFF COSTS
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Wages|and|salaries|365,430|326,910|
|Social|security|costs|21,552|20,553|
|Pension|8,385|7,056|
|395,366|354,519|
|The|average|monthly|number|of employees|during|the|year was|as|follows:|
|2023|2022|
|Total|23|—22|
|No|employees|received|emoluments|in|excess|of £60,000.|
|10.|COMPARATIVES|FOR|THE|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Charitable|activities|
|Core|activities|43,335|279,300|322,635|
|Other|38,482|156,045|194|527|
|Total|81,817|435,345|§17,162|
|EXPENDITURE|ON|
|Raising|funds|3,473|3,670|7,143|
|Charitable|activities|
|Core|activities|56,706|417,557|474,263|
|Other|8,294|§;237|13,531|
----- End of picture text -----
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continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
| 10. | COMPARATIVES FORTHE STATEMENTOF FINANCIAL ACTIVITIES - | COMPARATIVES FORTHE STATEMENTOF FINANCIAL ACTIVITIES - | continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| _£ | —_£ | —_£ | ||
| Total | 68,473 | 426,464 | 494,937 | |
| NETINCOME | 13,344 | 8,881 | 22,225 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | (7,043) | 10,279 | 3,236 | |
| TOTAL FUNDS CARRIED FORWARD | 6,301 | 19,160 | 25,461 | |
| 11. | TANGIBLE FIXED ASSETS | |||
| Plant and | Motor | |||
| equipment | vehicles | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1stAugust 2022 | 153,906 | 80,865 | 234,771 | |
| Additions | 1,428 | - | 1,428 | |
| Disposals | - | (27,298) | (27,298) | |
| At 31st July 2023 | 155,334 | 53,567 | 208,901 | |
| DEPRECIATION | ||||
| At 1stAugust2022 | 140,864 | 79,844 | 220,708 | |
| Charge foryear | 2,03f | 1,021 | 3,358 | |
| Eliminated on disposal | - | (27,298) | (27,298) | |
| At 31st July 2023 | 143,201 | 53,567 | 196,768 | |
| NET BOOK VALUE | ||||
| At 31st July 2023 | 12,133 | . | 12,133 | |
| At 31st July 2022 | 13,042 | 1,021 | 14,063 | |
| 12. | STOCKS | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Stocks | 1,061 | 1,061 |
Page 22
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 135,425 | 122,450 | ||
| Prepayments | 2,692 | 2,263 | ||
| 138,117 | 124,713 | |||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| E | £ | |||
| Bank loans and overdrafts (see note 16) | 3,824 | 3,824 | ||
| Trade creditors | 4,062 | 5,683 | ||
| Social security and other taxes | 13,947 | 12,925 | ||
| Other creditors | 1,839 | 1,766 | ||
| Accruals and deferred income | 165,757 | 171,834 | ||
| 189,429 | 196,032 | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Deferred income at | 1 August2022 | 165,482 | 168,607 | |
| Amounts deferred in the year | 332,625 | 227,075 | ||
| Amounts released in the year | (338,550) | (230,200) | ||
| Deferred income at 31 July 2023 | 159,557 | 165,482 | ||
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Bank loans (see note 16) | 6,995 | 11,333 | ||
| 16. | LOANS | |||
| An analysis ofthe maturity of loans is given below: | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Amounts falling due | within one year on demand: | |||
| Bank loans | 3,824 | 3,824 | ||
| Amounts falling due | between two and five years by installments: | |||
| Bankloans | 6,995 | 11,333 |
Page 23
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
17.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Within|one|year|11,205|10,800|
|Between|one|and|five|years|14,175|2,700|
|25,380|13,500|
|18.|ANALYSIS|OF|NET ASSETS|BETWEEN|FUNDS|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|3|£|£|£|
|Fixed|assets|4,707|7,426|12,133|14,063|
|Current|assets|199,358|6,137|205,495|218,763|
|Current|liabilities|(189,429)|-|(189,429)|(196,032)|
|Long term|liabilities|(6,995)|>|(6,995)|(11,333)|
|7,641|13,563|21,204|25,461|
|19.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1/8/22|in|funds|31/7/23|
|£|£|E|
|Unrestricted|funds|
|General|fund|6,301|1,340|7,641|
|Restricted|funds|
|Core|Activities|19,160|(5,597)|13,563|
|TOTAL FUNDS|25,461|(4,257)|21,204|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|39,871|(38,531)|1,340|
|Restricted|funds|
|Core|Activities|508,955|(514,552)|(5,597)|
|TOTAL FUNDS|548,826|(553,083)|(4,257)|
----- End of picture text -----
Page 24
continued...
The No Way Trust Limited
Notes to the Financial Statements - continued for the year ended 31st July 2023
- MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1/8/21|in|funds|31/7/22|
|£|£|£|
|Unrestricted|funds|
|General|fund|(7,043)|13,344|6,301|
|Restricted|funds|
|Core|Activities|10,279|8,881|19,160|
|TOTAL|FUNDS|3,236|22,225|25,461|
----- End of picture text -----
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|81,817|(68,473)|13,344|
|Restricted|funds|
|Core|Activities|435,345|(426,464)|8,881|
|TOTAL FUNDS|517,162|(494,937)|22,225|
----- End of picture text -----
- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2023.
- SHARE CAPITAL
There is no called up share capital as the company is limited by guarantee. In the event of the Charity being wound up each member has undertaken to contribute to the assets of the Charity such amount as may be required to discharge its debts, the amount not to exceed £10 per member.
- PENSION COMMITMENTS
The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the year was £8,385 (2022: £7,056). At the year end, £1,623 was outstanding in respect of contributions not yet paid over (2022: £1,371).
Page 25