mailes Goldie Smalles Goldie Copy CHARTERED ACCOUNTANTS REGISTERED COMPANY NUMBER: 02953857 (England and Wales) REGISTERED CHARITY NUMBER: 1049059 The No Way Trust Limited (A company limited by Guarantee) Financial Statements 31 July 2024 S0216945-14 be%fer I¢AEW CHARTERED ACCOUNTANTS
The No Way Trust Limited Contents of the Financial Statements for the yoar endad 31st July 2024 Page Report of the Tru8toe8 Raport of tho Independont Auditors 10 to 12 Statement of Flnanclal Actlvlties 13 Balanca Sheet 14 Cash Flow Stat6ment 15 Notes to the Cash Flow Statement 16 Notes to the Financial Statoments 17 to 25
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for th• year ended 31st July 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with Ihe financlal statemeiilèi ul Ilie Ll lill ILY for the year ended 31 st July 2024. Thc tru=toos have adopted the provlsions of Accounting and Reporling 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 202312024 The. fnvid years, left today's younger qeneration devoid of regular education for almost 2 years facing multlple lockdowns and the impact from this unprecedented time is still far reaching. We know from our work with Primary & Secondary v.hnnls throughout the country how detrimental the impact of the Covid-19 pandemic continues to be on children and young people. Over four years on from that first lock down., the mental health impact on the young continues to be profound and schools and communities, located especially in deprived areas, have been experiencing incidents of challenging. disruptive, and violent behaviour, as recent events in August 2024 have sadly proven. Hate Crlme, Knife Crime. Gun Crime. County Llnes, Gang Rivalry, Violence, Domestic Abuse, Social Media Mitsu. Exploitation, Anti-oocial Behaviour ctc, continuo: to be a cause for concern, with inslanpps 8Hdly related to many young lives10st and a blight on so many otheryoung lives. These issues and more are featured iii tlie d&ly¥ Il'ial can provide through the goncrooity of our staunch Supporters. We continue to offer three ever evolving 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 presentatlons 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 charity was also able to replace one of Its aging replica prison cell exhibit vehicles, which supports all our programmes early in the year increaslng assets., another similar vehicle will be replaced during the next financial year. The learning experiences we provided helped the young to understand the law, lustice, causes, consequences and Impact of crime. their rights and responsibilities as young citizens, know where to turn if they are in crisis, stay safe, reduce risky behaviour, make better choices, reduce youth crime, and improve communities for all. Through the interaclive sessions and a range of lived experiences provided the young involved also now have true knowledge lo base future life decisions upon and understand how important Trust and Freedom are to building and leading a successful life. Whatever the aims and objectives of any charily may be, it nevertheless requires fundlng to dellver. Financially, it has been a sucSsful year for The No Way Trust Charity with a small end of year surplus of £3,033. With the continued regionalisation of our operations. where we now mainly work within a radius of miles over one week, we have managed to reduce day to day travel expenses over the past year and reduce travel for our staff in support of their health and well-being. Savings made have helped to support other operating cost increases through the year and achieve the small end of year surplus. Acquiring grants is never easy and each passing year there are so many new deserving causes seeking support and funding. We will need to continue working hard to attrad the investrnent this charity requires to sustain its services. During the next financial year, like many other charities, The No Way Trust Limited will also have to absorb thousands of pounds in unforeseen employer national insurance contributions a5 well as inflationary increases in operational cosls. Prudent fiscal management and grant funding will be essential for maintaining delivery of our learning provisions and ensuring the number of beneficiaries we work with. face to fa, continues to reach a minimum of 40,000 annually. Page 1
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for tho year ended 31st July 2024 The No Way Trust Limited Charity shall be forever thankful and appreciative for the generous support of so many grant making organisations, individual donations and for the educational sectors trust in our learning services. Every grant and donation reiVed is warmly welcomed and we provide every child or young person we encounter with a learning experience that is memorable and life enhancing,- pivotal to ensuring the Continuan of our great charity and the important work that we do. This charity will remain forever indebted to you all. Paul Wilkinson The No Way Trust Chief Executive STRATEGIC REPORT Financial results As a small charity The No Way Trust Ltd qualifies for an 'lndependent Examination,. For reasons of transparency, Trustees voluntarily require a full 'lndependent 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 Due to prudent financSal management and mor8 reglonally focussed working strategy, the Trust posted a small year-end surplus of £3,033. Trustees consider it to have been another very successful year for The No Way Trust and accumulatively there is an improved carry forward in reserves at year end, The Board of Trustees have established a reserves policy whereby the unrestrScted funds held by the charity Should be between 3 to 6 months of the resources expended. Trustees remain focussed on achieving this level of reserves at the earliest opportunity. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity, founded in 1993, Is registered with the Charity Cornmission under registration number 1049059 and the Office of the Scottish Ch8rity Regulator SC040325 and at Companies House as a nonprofit 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 lo 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 'Articles of Association, 11th September 2017. Recruitment and appolntmgnt of management commlttee 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. Organisatlonal 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 th8 charity delivers the services specified and that key performance indicators are met. Page 2
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for the year ended 31st July 2024 STRUCI'URE, GOVERNANCE AND MANAGEMENT Induction and training of naw trustee8 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: Thfi nhligations of Management Committee. members. (A copy of the Charity Commission Essential Trustee book18t CC3 and CC3a are normally provided.) The main documents that set out the operational fraMOrk for the charlty are included in the 'Articles of Association,. Resourclng and the current financial posltion as set out in the latest published accounts. Business plan and objectives, Risk management The Maiidy*Jiii¥iII Coiiiinittee has conducted 8 review of thc major ritrks to which th8 charity is exposed, A rlsk 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. Slgnlficant external risks to funding have led to the development of a strateglc plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the sub-finance committee and proCedUS for authorisation of all transactions and projects. Procedures are in place to ensure compliance wilh health and safely of staff, volunteers, and beneficiaries. Publlc 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 Edijcation for the Public Benefit" The outcomes of The No Way Trust, following their work with children and young people include; A greater understanding of how the law and justice work, A greater understanding of the causes, consequences, and impact of crime and anti-social behaviour, Guiding them towards making better Chols, stay safe, reducing risky behaviour, and avold crime, Signposting avenues of help and support, Support and advice for those who have a loved one in prison, 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 Ihey need to reach their potential. This translates into a better quality of life for the young, their communities, less vlctims of crime and a reduction in costs, either personal or financial for the general public. Page 3
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for tha year •nded 31st July 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Background The No Way Trust Charity was founded in 1 g93 by 3 prison officers concerned about the number of young people encountering 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 Ihe law, justice, causes, consequenos. 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-Prisonl Me! No-wayl which continues to define its brand. Since 1993 the Trusts, work has impacted on more than 2,500 Secondary Schools and some 2,000 + other children and youth organisations including youth groups and charities, excluded, disadvantaged, and disaff&led pupils, Pupil Re-lntegration Unrts. Youth Offending Services and more etc. etc. The Trust also works in some Primary Schools. The Trust works face lo face with over 40,000 children and young people annually. We provide an array of flexible learning ServIS through No Way Trust staff & volunteers who are trained in the delivery of a wide range of high-quslity professional, accurate, realistic, truthful, impactive and MeMorate sesslons. The Trust employs 23 staff on varled contracts equivalent to approximately 16 full time staff who are based in our Head Office in Hull and locations around the country. Vlsion 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, slay safe and realise their full potential. Mi8slon Statement To raise awareness amongst young people, aged 8 to 18, about the causes, consequences, penalties, and Impact of crime and antl-social behaviour. We want young people to stay safe, understand their rights and responsibllities as young citizens, aspire and be prepared to meet the challenges of modern society. Valu08 The Trusts values are,. We are a not for profit organlsation We take pride in delivering quality and value for money The safely of young people is paramount to us We are one Trust.. great things happen when we work together We deliver what commit to and communicate effecxively with our partners Innovation, integrity and making a difference in the lives of young people are the driving forces for our staff and volunteers Page 4
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for th• year ended 31st July 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Strategic aims 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 Help children and young people to deal with Ilfe challenges and understand the impact of anti-social behaviour and crime upon them and their communities Dispel Ihp myths and misconceptions of imprisonment and accurately and sensitively portray the effects of imprisonment Rai8e extensive awareness of, and Impress upon all young people, the ultimate consequences and penalties of crime 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 Develop progressive partnerships that incorporate inter-agency working and co-operation between like-minded agencies Assist Offender ond Ex-Offend8rs in their rehabilitatinn Strateglc objectlveg 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 Work with primary school children, as we firmly believe that crime preventative work cannot start too early Employ, mentor. and involve people with convictlons still in prison or released from prison, that have already worked with the Trust. to deliver impactive workshops in schools Continually develop in conjunction with Ihe feedback from young people and our own Youth Advisory Group, innovatlve and interactive resources to assist us in the prevention of youth crime Deliver presentations to young people across the county in varied settings such as schools, pupil referral units and in conjunction with partner agencies e.g. Emergency Services, Youth Justice etc. Communicate with young people and our stakeholders uslng the most effective channels in a co- ordinated and strategic manner Revl•w of developments, actlvities and achl•vements HMPPS Agreement The partnership agreement with Her Majesty's Prison and Probation 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 thal our training and professionalism greatly assist the Prison Servi, HMPPS, career development and aids rehabilitation. Crfme and Safety Awareness Days We delivered 135 of our unique days in the 12 months covered by this report, including many schools that we have visited year on 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 30 YCD'S 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. Page 5
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for th• yèar ended 31st July 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Youth Advisory Group We have a 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 member5 to widen experience and diversity of its structure. Peopl• in Prison Prnsentations 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 15 in different parts of the UK. Pleasingly, we know that6 of them have gone on to secure full-time employment. elsewhere, furthering their careers. we currently employ 2 people who have been in prison. The workshops continue to be in high demand right across the country and have contributed to diversifying our servi8 and generating additional grants. Soclal Medla & Webslte Our modern websile keeps evolving and the number of enqulrles generated through the website have soared and enabled many new schools and youth agencies to become involved. Replica Pri80n Cell Thanks to generous supporters, we were able to purchase a Peugeot Luton Box Van and convert the interior into a replica prison cell to replace an aging model. The new vehicle entered community service in April 2024 and has provided an enhanced learning dimension to our work. The conversion was again undertaken by a very generous skilled volunteer who gave freely of his time and expertise. This saved the Trusl several thousands of pounds in labour costs Impact The impact of The No Way Trust's work have been conslstent and extr8mely positive for over 31 years. Independent research conducted by the University of Sheffield published in September 2023, evidenced that: The No Way Trust (NWT) was having a lasting impact and making a positive difference to children and young people's lives and fulure decision making and that the value of 'lived learning experiences. provided was profoundly valued by young beneficiaries. Our charily also offers ex-prisoners a key pathway to reintegration, work experience and a living salary and 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.. CSAD'S 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 CSAD'S, 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. Page 6
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for the year ended 31st July 2024 STRUCIURE, GOVERNANCE AND MANAGEMENT Future Plans Crlme and Safety Awareness Days {CSADs) Demand for CSAD'S remains strong. Many schools have already re-booked their days. and the present financial year has increased activity scheduled. We will continue to focus on delivery in areas where V have a good nucleus of our volunteers available and where it is most cost-effective for us. Yoilr Cholca Days Demand for YCD'S in Primary Schools is high and we will look to build capacity further through the academic year- September 2024 and .Iiily ?n25- 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 students. We have an attractive and fair pricing structure that allows us to tailor activity to the school funds available. Repllca Prison C*ll8 We will replace a second aging mobile replica prison cell during the next financial year Interactive Learning We will work closely with chlldren, young people and schools to inlroduce new Interactive features to enhance the learning experience and long-term Impact of our work. Flnance The increases to Employer Nalional Insurance contributions that will be introduced during April 2025, and future pay rises, will add several thousands of pounds to the charities annual running costs and will require skilled budget management. Busin6ss Plan 2025- 2026 Will set a course for transition over the next 2 years arKI b8yond. Summary The No Way Trust charity is one of the most highly regarded ch8rltles that exists in the United Kingdom today. Since emerging from covid we have introduced an impressive array of new workshops, refinement of traditional workshops that have stood the test of time., with a constant focus on Gontinuou8 service improvement and evolution enabling us to meet Ihe 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 can40 track record, and we re1ve 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! Mel No-way! anywhere in the UK. Our personable approach is one of constant evolution, innovalion, inclusivity, and partnership that together provides a cohesive, united. effective, varied, and unique range of life-enhancing learning experiences. The feedback re]Ved this past year has again bn 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 31 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 differen to young lives,- is what this enviable reputation ha5 been built upon. Page 7
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for the year éndod 31st July 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02953857 (England and Wales) Registered Charity number 1049059 Registered offlca The Deep Business Centre Tower Street Hull East Yorkshire HU14BG Trustea8 Mr Stephen Rock- Chair Mrs Dawn Douglas Mrs Sandra Fawcett Mr David Grantham Mr Graham McDonald Company Secrotary Pamela Gay Audltorn Smalles Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 88A Sollcltors Rollils Citadel House 58 High Street Hull HU11QE Bankers Lloyds Bank plc Hull City Centre 1 Grand Buildings Jameson Street Hull HU13JX 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). Page 8
The No Way Trust Limited (Registered number: 02953857) Report of the Trustees for the year endéd 31st July 2024 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 Ihat period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charily SORP; make judgements and estimates that are reasonable and prudent; qtatp. whether applicable accounting standards have been followed, subject to any materfal departures disclosed and explained in the financial statements. prepare the financial slatements 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 preventlon and detection of fraud and other irregularities. n so far as the trustees are aware: there is no relevant audit information of vthich the charitable company's auditors are unaware; and the truslees have taken all steps Ihat they ought to have laken lo make themselves aware of any relevant audit information and to establish that the audilors 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. Reporl of the trustees, incorporaling a strategic report, approved by order of the board of trustees, as the company directors, on 20th January 2025 and signed on the board's behalf by: Mr Stephen Rock - Trustee Page 9
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 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). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 st July 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prep£red in accordance with the requirements of the Companies Act 2006. Basis for opinlon 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 provlde a basis for our opinion. Concluslons 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 iwelve months from when the financial statements are authorised for issue. Our responsibilities and the r8sponsibilities of the trustees with respect to going concern are described In the relevant sections of this report. Other Informatlon The trustees are responsible for the other informatlon. 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 fomi 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 identrfy 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 port that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In OLJr opinion, based on the work undertaken in the course of the audit: 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 the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 10
Report of the Independent Auditors to the Members of The No Way Trust Limited Matter8 on which w• are requir•d to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the wui¥¥ uf ilie audit, we have not identified material mi==tatemont6 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.. adequate accounting records have not been kept or returns adequate for our audit have not been reiVed from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns. or certain disclosure5 of trustees, remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Responslbllltles 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 thefinancial statemenls and for being satlsfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparats-on of financial statements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial statements, the trustees are responsible for assessing the charitable company's abilily to continuo as a going conc8rn, disclosing, as applicable, matte.rs rplalAd to 90ing 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 regponslbllltles for tho audit of the finanGial statements Our objectives are to obtain reasonable assurance aboul whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue a Report of the I ndependent 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 8re 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 slatements. Our approach lo 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 Ihe financial statements or the operations of the charilable 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 discusslon with management and inspecting legal and regulatory correspondence. We assessed the susceptibility of the charitable company's financlal 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-compllance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures to identify any unusual or unexpecled relationships; tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates %vere indicative of potential bias, and investigated the rationale behind significant or unusual transactions. Page11
Report of the Independent Auditors to the Members of The No Way Trust Limited Oplnion We have audited the financial statements of The No Way Trust Limited (the 'charitable company,) for the year ended 31st July 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). In our opinion the financial statements.. give a true and fair view of the slate of the charitable companys affairs as at 31 st July 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2008. Basis for opinlon We conducted our audit in accordance with Internatlonal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further descrlbed in the Auditors, responsibilities for the audit of the financial stalements 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. Concluslons relatlng to golng conGern 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 colleclively, 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 fin8ncial 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 Infomiation The trustees are responsible for the other information. The other Informalion comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Audltors thereon. Our opinion on the financlal 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 identrfy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial ststements 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 proscribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: 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 the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 10
Report of the Independent Auditors to the Members of The No Way Trust Limited Matters on whlch 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= adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specrfied by law are not made., or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibillties, the trustees {who are also the directors of the charitable companyfor 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 preparlng the fiii¥iiLidl ¥iateineiits, the trustees are re8pon8iblo for a•*¥J•C ing th8 charitabl6 company's ability to continue as a going Concern, disclosing, as applicable, matters related to going concern and using th8 golng concerri basib uf dL6uunliiig unless the Irustee8 either intcnd to liquidate th8 charitabl8 company or to cease operations, or have no realistic alternative but to do so. Our responslbilitles for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financlal 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 rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on Ihe basis of these financial statements. Our approach to identifying and assessing the rlsks 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 slatements or the operations of the charitable company, including the Companies Act 2006, Charities Act 2011, taxation legislation. safeguarding. data protection, anti-bribery. employment, environmenlal 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 susceptlbility 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 wilh laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytlcal procedures to identify any unusual or unexpected relationships- tested journal entries to identify unusual transactions. assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias-, and investigated the rationale behind significant or unusual transactions. Page11
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.. 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 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. co15usion, omission, or misrepresentation. A further description of our r8sponsibilities for the audlt of the financial statements Is located on the Financlal Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Uso 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 {Senlor Statutory Auditor) for and on behalf of Smalles Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA 20th January 2025 Page 12
The No Way Trust Limited Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st July 2024 2024 Total funds 2023 Total ftAnds Unrestricled Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Charitablo activltles Core activities Other 30,259 3,742 322,136 188,980 352,395 192,722 355,325 189,251 Other income 225 225 Total 511,341 545 342 548,826 EXPENDITURE ON Raising funds 1,453 7,957 9,410 7,456 Charitable actlvitie8 Core activities Other 23,930 16,329 492,482 158 516.412 529,552 16,075 Total 500,597 542 309 553,083 NET INCOMEI(EXPENDITURE) (7,7111 10,744 3,033 {4,257) RECONCILIATION OF FUNDS Total funds brought forward 7,641 13,563 21,204 25,461 TOTAL FUNOS CARRIED FORWARD 70 24,307 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial slatements Page 13
The No Way Trust Limited (Registered number: 02953857) Balance Sheet 31st July 2024 2024 2023 Notes FIXED ASSETS Tangible assets 11 32,764 12,133 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 1,061 128.153 1,061 138,117 66,317 200,316 205,495 CREDITORS Amount5 falling due within one year 14 (206,263) (189,429) NET CURRENT ASSETS 16,066 TOTAL ASSEfs LESS CURRENT LIABILITIES 26,817 28,199 CREDITORS Amounts falling due after more than one year 15 {2,580) (6,995) NET ASSETSI{LIABILITIES) FUNDS Unreslricted funds Restricted funds 19 (70) 7,641 TOTAL FUNDS 21,204 The financial statements were approved by the Board of Trustees and authorised for Issue on 20th January 2025 and were signed on its behalf by: Mr Graham McDonald - rus ee The notes form part of these financial statements Page 14
The No Way Trust Llmlted Cash Flow Statement for the year ended 31st July 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 33,047 Net cash provided byl(used in) operating activities 33,047 25,156) Cash flows from investing actlvities Purchase of tangiblc fixcd a0ct= Sale of tangible fixed assets (24.248) 225 (1,428> 4,250 Net cash (used inyprovided by investing activities 24,023) 2,822 Cash flows from financlng activltle8 Loan repayments in year Net cash used in financing actlvities Change in cash and cash equival•nts in tho reporting pariod Cash and cash equivalents at the beglnnlng of the reporting period 4,78S (26,672) 66,317 92,989 Cash and cash équivalents at tho end of the reporting rIOd 66,317 The notes form part of these financial statements Page 15
The No Way Trust Limited Notes to the Cash Flow Statement for the y•ar ènded 31st July 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Incomel(•xpanditure) for the reportlng period (as per the Statement of Financial Activities) AdJustmonts for: Depreciation charges Profit on disposal of fixed assets Decreasel(increase) in debtors Increasel{decrease) in creditors 3.033 (4,257) 3,616 {225) 9,965 16,658 3,358 (4,250) (13,404) Net cash provlded byl(u8ad in) operatlons 33.047 25 156) ANALYSIS OF CHANGES IN NET FUNDS At 1.8,23 Cash flow At 31.7.24 Net cash Cash at bank and in hand 66,317 Debt Debts falling due within 1 year Debts falling due after 1 year (3,824) 6,995 1176> (4,000) Total 55,498 9,024 64,522 The notes form part of these financial statements Page 16
The No Way Trust Limited Notos to the Financial Statements for the year endad 31st July 2024 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordan 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 All income is recognised in the Statement of Financial Activities On 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 commlttlng the charlty to that expendSturB, il is yrubdblv LlidL d Ifdl Ibl¥i uf titiiiioniic beiiefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basss and hi45 btjtjri Lldbsilied uiid¥i Ii¥ddiiiyb IliaL aggregale 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 apportlonmont 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, audilors 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. Tanglble 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 Motor vehicles 170kn on cost 15Yo on cost Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost indudes cosls 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. Taxatlon 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 balan 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..
The No Way Trust Limited Notes to the Financial Statements - continued for the year ended 31st July 2024 ACCOUNTING POLICIES - contlnuad Fund accountlng Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or vthen 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 credltors Deblors and creditors wilh no stated interest rate and re1vable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Hirè purchase and leaslng commltmènts Amounts payable under operating leases are charged to profit and loss account when incurred. Deferred income Deferred income represents amounts recelved for charitable activities in advance of the event taking place less cosls incurred to date. Impairments Assets not measured at fair value are reviewed for any Indicalion 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. Pen8lon contrlbutions The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently adminislered fund. Contributions are charged to the Siatement of Financial Activities as they become payable in accordan with the rules. INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Core activities Grants and donations 352,395 192,722 355,325 189,251 545,117 544,576 Grant and donations comprise the following: Amount Baron Davenport's Charity Carol Hudson CB & HH Taylor 1984 Trust Chapman Charitable Trust Dave Jones Memorial Donation EH Smith Charitable Trust Florence Turner Trust Frank Litchfield General Charitable Trust Great Western Railways - GWR Hadrian Trust Hull City Council Crime Prevention Fund 1,000 2,000 1,200 1,000 870 1,800 1,000 2.000 18,850 1,000 25.000 Page 18 continued...
The No Way Trust Llmited Notes to the Financial Statements - continued for the yèar ended 31st July 2024 INCOME FROM CHARITABLE ACTIVITIES - continued Richard Hudson Sheffield Town Trust Skipton Building Society st Jude's Trust stephen Martin Stephen T. Larard MBE JP DL Tp.sc.n Community Grant The 29th May 1961 Charitable Trust The Alice Ellen Cooper-nean C.harilahla Foundation The Camelia Trust The Charles & Elsie Sykes Trust The Falconer Family Trust The Garfield Weston Foundation The Gay & Peter Hartley's Hillards Charitable Trust The George A Moore Foundation Tli¥ Gu¥ilii iy Fouiidation The Grocers Charity Tlie) Hdraiiiead Trust The Henry & Dora Needler MemorSal Trust The Hull & East Riding Charitable Trust The lan Askew Charitable Trust The John & Susan Bowers Fund The John Horseman Trust The John R Murray Charitable Trust The Joseph & Annie Cattle Trust The Oak Trust The Patrick Trust The Prince of Wales Charitable Fund The Robert McAlpine Foundation The Shepherd Group Community Support Fund (Portakabin) The Sir James Reckitt Charity The T.U,U.T Charitable Trust The Vandervell Foundation The W.F.Southall Trust The Worshipful Company of Weavers The Yorkshire Bank Charitable Trust Theodore Maxxy Charitable Trust William Allen Young Charitable Trust Other Donations Deferred Income Movement 3.000 2,500 2,500 1,000 1,000 2,500 1,125 5,000 2,000 2,000 5,000 4,800 25,000 1,000 1,000 5,000 5,000 5,000 4,000 5,000 500 800 5,000 5,000 7,500 1,000 2,000 2,000 5,000 5,000 4,000 10,000 3,000 3,000 5,CQO 1,000 2,000 3.000 722 -11,945 192,722 Page 19 continued...
The No Way Trust Limited Notes to the Financial Statements - continued for the year endad 318t July 2024 RAISING FUNDS Raising donatlons and legacies 2024 2023 Conferences and seminars Advertising, printing and stationery Crime day enhancements 100 1,963 5,393 1,442 7,968 7,456 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 5) Support costs (see note 6) Totals Core activities Other 516,412 516,412 516,412 532,899 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Travelling and subsistence Telephone mobile and internet Motor expenses Rent Wages and salaries Postage Depreciation Insurance Legal and professional Sundry Bank charges 56,500 2,698 15,179 14,251 400,037 507 3,255 1,263 11,876 10,059 787 66,969 4,782 17,207 13,245 391,412 168 3,022 1,653 20,664 9,637 793 516 412 529,552 Page 20 continued...
The No Way Trust Limited Notes to the Financial Statements - continued for the year ended 31st July 2024 SUPPORT COSTS 2024 2023 Wages and salaries Auditors, remuneration Rent Legal and professional Sundry Meetings D8preeiation 4,003 5,983 1,584 1,320 1,620 1,615 362 3,954 5,800 1,471 2.296 1,071 1,147 336 16,075 NET INCOMEI{EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting).' 2024 2023 Auditors, remuneration Depreciation - owned assets Surplus on disposal of fixed assets Auditors, remuneration for non audit work 5,983 3,617 (225) 5,800 3,358 (4,250) 1,062 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 st July 2024 nor for the year ended 31st July 2023. Trust068' oxpense8 There w8r8 no trustees, expenses paid for the year ended 31 st July 2024 nor for the year ended 31st July 2023. STAFF COSTS 2024 2023 Wages and salaries Social security costs Pension 375,679 19,930 8,431 365,430 21,552 8,385 404,040 395,366 During the year, the charity made termination payments tolalling £3,750 (2023.. nil). The average monthly number of employees during the year was as follows.. 2024 23 2023 23 Total No employees received emoluments in excess of £60,000. Page 21 continued...
The No Way Trust Limited Notes to the Financial Statements - continued for the year endad 318t July 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unstrICted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Charltable activities Core activities Other 21,395 14.226 333,930 175,025 355,325 189,251 Other income 4,250 4,250 Total 39.871 508 955 548.826 EXPENDuRE ON Raising funds 1,963 5,493 Charitable actlvltles Core activities Other 27,221 9,346 502,331 6,729 529,552 16,075 Total 38,530 514,553 553,083 NET INCOMEI(EXPENDITURE) 1,341 (5.598) (4,257) RECONCILIATION OF FUNDS Total funds brought forward 6,301 19,160 25,461 TOTAL FUNDS CARRIED FORWARD 7,642 13,562 21,204 11. TANGIBLE FIXED ASSETS Plant and equipment Motor vehides Totals COST Al 1 st August 2023 Additions Disposals 155.334 1,744 53,567 22,504 208.901 24,248 At 31st July 2024 157 078 61.071 218,149 DEPRECIATION At 1st August 2023 Charge for year Eliminated on disposal 143,201 2,475 53.567 1,142 15,000) 196,768 3,617 15,000) At 31st July 2024 145,676 39,709 185 385 NET BOOKVALUE At 31 st July 2024 32.764 At 31st July 2023 12,133 12,133 Page 22 continued...
The No Way Trust Limlted Notes to the Financial Statements - continued for the year ended 31st July 2024 12. STOCKS 2024 2023 Stocks 1,061 1,061 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments 123,850 4,303 135,425 2,692 128,153 138,117 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 16) Trade creditors Social security and other taxes Other creditors Accruals and deferred income 4,000 3,915 10.710 1.428 186210 3,824 4,062 13,947 1,839 165,757 206 263 189,429 2024 2023 Deferred income at 1 August 2023 Amounts deferred in the year Amounts released in the year 15g,557 175,955 159,557) 165,482 332,625 338,550) Deferred income at 31 July 2024 175.955 159,557 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 16) 6,995 16. LOANS An analysis of the maturity of loans is given below: 2024 2023 Amounts falling due within one year on demand: Bank loans 4,000 3,824 Amounts falling due between two and five years by instalments: Bank loans 2,580 6,995 Page 23 continued...
The No Way Trust Limited Notes to the Financial Statements - continued for thè year ended 318t July 2024 17. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows". 2024 2023 Within one year Between one and five years 11,340 2,835 11,205 14,175 25,380 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted Restricted fund8 funds Fixed assets Current assets Current liabilities Long term liabilities 4,707 200.316 (202,513) 28,057 32,764 200,316 {3,750) (206,263) 12,133 205,495 (189,429> 70 19. MOVEMENT IN FUNDS Net movement in funds At 31.7.24 At 1.8.23 Unrestricted funds General fund 7,641 (7,711> (70) Restricted funds Core Activities 13,563 10,744 24.307 TOTAL FUNDS Net movement in funds, included in the above are as fdlows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 34,001 (41,712) (7.711) Restricted funds Core Activities 511,341 (500,597) 10,744 TOTAL FUNDS 545,342 542,309) 3,033 Page 24 continued...
The No Way Trust Limited Notes to the Financial Statements - continued for the year ended 31st July 2024 19. MOVEMENT IN FUNDS - continuad Comparative8 for movement in funds Net movement in funds At 31.7.23 At 1.8.22 Unrestrie.te.d funds General fund 6,301 1,340 7,641 Rèstrlcted funds Core Activities 19,160 (5,597) 13,563 TOTAL FUNDS 25,461 4.257) Comparative net movement in funds, included in the atx)ve are as follows,. Incoming resources Resources expended Movement in funds Unre8trlcted fund8 General fund 39,871 (38,531) 1,340 Restricted fund8 Core Activities 508,955 (514,552) (5,597) TOTAL FUNDS 548,826 553,083) 4,257) 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 st July 2024. 21. SHARE CAPITAL There is no called up share capltal as the company is limited by guarantee. In the event of the Charity being wound up each member has undertaken to contribule to the assets of the Charity such amount as may be required to dlscharge its debts, the amount not to exceed £10 per member. PENSION COMMITMENTS The charity operates a defined contribution pension plan for its employees. Th8 amount recognised as an expense in the year was £8,431 <2023: £8,385). At the year end, £1,483 was outstanding in respect of contributions not yet paid over (2023: £1,623). Page 25