Registered number: 03074118 Charlty number: 1049128 CENTRE4 LIMITED (A Company Llmited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 •ADIUY8FT* 2711212024 COMPANIES HOUSE A10 #128 CENTRE4 LIMITED IA Company Limlted by Guarantee) CONTENTS Page Roferen¢e and AdminS8tratlve Detalls of the Company, Its Tfu8t••s and Advlsers Chalmian's Statement Trusteos. Report Ind•pend•nl Audltorn, Report on lh• Flnanclal Statements Consolidated Statement of Flnanclal Actlvltles 4-12 13-16 17 Consolidated Balanc• She•t 18-19 Company Balance Sh••t Consolldated Statement of Cash Flows 20-21 22 Notes lo the Flnanclal Stat•mont$ 23-53 CENTRE4 LIMITED (A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trusteos A J Hames, Chair J M Stockton. Vice chalr E A Nomlan, Trustee P Taylor, Trustee B J Henry, Trustee (resigned 26th July 2023) W J Trask, Trustee J E Bramley, Trustee (resigned 27th November 2024) S Near, Truslee (appointed 201h June 2024) D P Edmonds (appointed 3141 October 2024) Chief Offi¢•r A Chief Officer Is appolnted to manage the organlsatlon and develop It and has d81egaled authority, wlthin the terms of delegation approved by the Irustees, for operational matters including finance, employment and other related activities. Senior Management and Project staff submit quarterly reports to the board which are discussed at th8 general meelings. During Ihis Teporting period Tracey Good was in the position of Chief Officer. Key management personnel Tracey Good - CEO Suzanne Woods- Director of Finance and Organisational Suslainablllty Tracey Collins- Dlrector of Health and Wellbeing, Including advice and guldance Phil Drinkwater- Director of Facililies Graham Rodger- Director of Children, Young People and Families Services (until 23￿ November 2023> Susan Harrison - Director of Employment and Tralning Company reglstered number 03074118 Charlty r•glstored number 1049128 R•glst•r•d offl¢• Centre4 17a Wootton Road Grimsby North East Lincolnshire ON33 1HE Company secretary T Good Chlof •xecutlve offlc•r T Good Independent auditors Xeinadin Audit Limited Sidings House, Sidings Court Doncaster DN4 5NU Bankers The Co-operative Bank PIC P.0. Box 250 Skelmersdale WN8 6wr CENTRE4 LIMITED (A Company Llmlted by Guaranleo) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The chairman presents her ststement for the year. This year seems to have flown by and once agaln l am pleased to welGorne you to our Trustees Annual Report and sel of accounts which. I hope, will positively reflect the changes we have gone through during this year and highlight the exciling developments that we have begun. The year started on a very positive note with Centre4 receiving notlfication that we had been successful in our application to the Youth Investment Fund. Receiving £2.8 m has enabled us to slart designing and planning for a purpose-built facility which, when completed, will bring a wide range of opportunities for OUT young people and will be a real "game-changer" for the area. We also received good news as, once again. Centre4 was awarded the contract to continue to deliver the social prescribing project "Thrive" Our thanks must go to our Partners, our CEO. our Health and Wellbeing Director and the Thrive staff team for thelr exceptional work in brlnging thls to a successful outcome. Thls Is a long-temi contract which brings continued assurance of supptyt to its beneficiaries and, ol course, security to our Thrive staff team for a number of years. Undoubt8dly, this year has brought numerous challenges not least of whlch was an arson attack in August which not only endangered the life of one member of staff working for one of our tenants, but also rendered a few rooms unusable for many months. Sadly, this resulted in one of ovr long-term tenants, Carelink. taking the decision to leave us. We have therefore reslruclured the area. and l am pleased to report that, when the work Is completed, it wlll create a space that Is both attractive and workable for a range of potential tenants. I must also thank our CEO, direclors and all the leadership team, the staff, volunteers, partners and our tenants for all their hard work. help and support during those exceptionally difficult weeks. The Board are truly grateful to everyone. Another positive change for Centre4 has been planning the redesign of the reception area. Once completed this will update the space and bring a more modem, accessible and welcoming 8nlrance for everyone. It will also ensure that an under-utilised walkway becomes much more functional as well as providing a much needed community meeting roorn. With long temi fundlng coming to an end. undoubtedly, this has been a challgnging year for ERA. our ethical recruitment agency, as it transitions towards becoming a sustainable service. That said, Ihe leam has extremely worked hard and. despite a number of setbacks, has made progress, especially in successfully delivering the Proud to Care Academy Training Pilot whlch has also helped to build good relatlonships with a number of employers in the area. l am also pleased to report that Butterflies Day Nursery has maintalned its'good. Ofsted rating, which is testimony to the hard work and commitment of the team. Whilst, as with all funded nurseries, there are some concerns, we have been assured by our partner colleagues that government changes to funded places will make a big difference next year. As Centre4 continues to grow and develop, unsuTprisingly. there has been a number of change8 in personnel and, whilst we are always sory to lose staff who have worked with us for a long time. we appreciate thal, sometimes, people need to move on and we wish them well in the future. As always, change brings opportunity and we have therefore taken time to review our leadership slructure, which has resulted in a more clearly defined leadership team and provided the opportunity to create a new post for a Facilities Director. Phil Drinkwater, who joined us in June. We are extremely fortunate to now have a leadership team that are all dedicated professionals who work èffectiV8ly together and who are all commfft8d to the future success of our organisation. CENTRE4 LIMITED (A Company Limited by Guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Once again. l am pleased to report that Centre4 has maintained a healthy and sustainable financial position. Please find a comprehensive financial report in accordance with SORP in Part 2 of this report and in Part 3 the financial statements are available to access in the standard fomiat. In drawing to a clos8, I would Ilke to Say a big thank you to Tracey Good, our now CEO, who has settl8d in vary quickly and has already proven to be an excellent leader for our organisation. We are Indebted to her for her hard work and especially for so quickly 'getting to grips" with our complex and diverse organisation. Finally. and perhaps most importantly, I thank my fellow board members, our staff, volunteers, tenants and partners for all their hard work, patience and support this year. l also thank everyone who vlsits and accesses services at Centre4 - we look forward to welcoming you for many years to come. Anne Ham85- Chair CENTRE4 LIMITED (A Company Llmlted by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the audited financlal ststements of the Company for the 1 April 2023 to 31 March 2024. The Annual Report seNes the purposes of both a Trustees, report and a directors, report und8r company law. The Trust8es confimi that the Annual R8POrt and financial statements of the charitable company comply with the current statutory requirements, the requirements of the ¢harilable company's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS102) (effective 1 January 2019). Part1 Impact R•port Centre4 are pleased to report their continued efforts to meet the needs of the community across various projects alongside our role as custodian ofthe Community hub. Emb8dded projects continue to thrive, and the charty has been responsive to the evolving challenges faced by our communities, whether they are èconomic, social or health disparlties. Centre4 serves as a centre for social interaction for the immediate and wlder communities of North East Llncolnshlr8, hostlng many partners delivering a vast array of projects and seprfices for our stakeholders. Health, Well-bolng, Advle•, and Guldanc6 Advice Servlce- provides advice and representation on debt, welfare benefits, housing and general legal queries. This service has a significant impact on the health and wellbeing of its users. We are pleased to report on the following levels of activity and impact.. New clients supported. non-debt- 2807, debt- 280. £5,612,571.41 client's financial gains for non-debl and £619.436.93 for debt cases at the point of closure Continued to support DWP through North East Lincolnshire Council wilh allocation from the Household Support Fund lo indlvlduals through the Costwof-Livlng Crisis, having received confirmation that Ihe programme will continue into the first six months of the next financial year. Provided Advice and Welfare support via Carets. Support Centre four days a week. 8espoke outreach support provided lo Carers through the Carers, Support Centre Thrive - supporting people with long term health conditions to prevent isolation and better management of their health and wellbeing. Following successful negotiation for the renewal of our existing contract. the newly commissioned five-year conlract began in Augusl 2023. 469 new patients enrolled on the program and achieved all our five-year targets for new patients four months ahead of schedule. 602 (900/0 of patients assessed> had improved their measured wellbeing outcome In Ilne with contract expectations to meet objectives.- As Ihe financial year ends, we are in the process of delivering the final eighteen months of the original contract alongside delivery of the new contract. Our Mentsl Health Peer Support Workers delivered our first full year of the contract with Navigo. 220 people with low level Mental Health issues were supported into the community and other support servic8S CENTRE4 LIMITED (A Company Limited by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 ConnectNEL has developed into a central offer to the community. a signposling service created to support people by direGtin9 them to the services and activities they need- connecting local people with local services. Demand has continued to increase throughout the year. with the volume of enquiries in excess of 1,000 per month Delivered support with 9,952 individual queries, connecting them lo dlfferent local services, from refuse collection to mental health crisis Build and develop relationships with local organisations to connect people to the best current option Supported pèopl8 through the Cost-of-Living Crlsls by finding services lo help with financial support, Household Support Grant applications, fuel vouchers and food hardship We continue to provide a service via a secured optlon 5 on the Single Polnt of Access as a dlrect route into ConneclNEL Simply Connect is a databas8 of services within North East Lincolnshire hosting a managed portal for organisations looklng for volunteers as well as supporting other organisations with their volunteer recruitment 334 organisations registered as providers on the director 1.159 local services and aclivities available on the directory for the public and professionals to help them to find the solutions they are looking for Total number of searches on the directory $5,744 on all various pages within Simply Connect Centr64 Communlty Hub Centre4 continues to provide a wide range of facilities for our tenants as well as conference, meeting and training space for a wide range of organisations. In tems of ongoing rental space, during the year our permanent office rentals were at 99.50/0 capacity and room hlre 35Va. We are currently running at 99.5¥0 capaclty. Work has begun on the development of the space as we move into another year. Listening to our communty, we have submitted proposals to improve the welcome area to create a more relaxed and flexible space. The successful outcome of the Youth Investment Fund bld for our new youth building cam8 during the year which saw the submission of planning permission and ils approval in the early months. As the year developed, we began the process to appoint a contractor with support of our archltects, Hodson, and related pemiissions to ensure that building can start in early summer 2024. Visitors to the Centre in the year was 89,336 including 20,974 accessing Centre4 services and projects. 28,735 through room hire bookings and 39,627 accessing our tenant services and projocts such as the Communlty Café, Nunny's Fam, Creating Positive Opportunily and Climb4. Unfortunately, in August 2023, we were victims of a significant arson attack which resulted in over £120,000 worth of damage as well as an equal amount of revenue loss and disruption to Cenlre4, our tenants and partners. The 8nd of the year saw ongoing remedial works with th8 anticipation that this will be completed by June 2024. Communlty Through the work of our tenants and our staff at Centre4 members of the community can access.. Nunny's Farm, Community Shop and Café, counselllng and mental health support. arts and craft activity. gardening, health groups, gardening aclivities, bingo, community celebrations, advice on finance and debt, jobs and careers, access to education. sport and physical activity, school holiday activities for children, youth projects. nursery provision, social prescribing, jobs via our Job Agency ERA, Conferences, training, warm spaces. volunteering opportunities, work experience and somewhere to meet friends In a wami and welcoming environment. CENTRE4 LIMITED IA Company Llmlted by Guaranlee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Chlldren, Young Pooplo & Famllles Butterflies Oay Nursery This year has been a very exciting year for Buttefflies. We have had in total over 180 children on role over the school year, and our occupancy keeps rising. The staff team have worked extremely hard to support the children through the period of change, and we have seen nothing but positive results from thls. We prlde ourselves on parental engagement which has again been positive this year. V￿rkIng together for the needs of their children and wider family. With most of our parents also accessing other seplices in the area, we are able to develop strong worklng relationships with areas of the Local Authority Ilke the SEND team, health visitors and social workers. We have found that our families tend to use Centre4 services, and this is something that we want to develop stronger connections with. so that we can have a holistic approach to family support. We are working hard to tum Butterflies into a setting that families wanl lo access due to our inclusive approach and are confident in our support for children with SEN, and use of the dedicated funding to purchase resources, and cover additional Staff tima, to ensure they are achlevlng Indlvldual needs. The most significant achievement during the year was our Otsted Inspection, the anticipation of the arrival of the team is always worse than the event itself and we were really proud of our GOOO rating. I would like to highlight the dedication of the staff team and their approach and support ol our model- they have been supportive and creative and have taken every challenge head on. Thls Is mainly due to their genuln8 love and care for the children, they are outstanding practitionérs, and I don't doubt that Butterflles Day Nursery could be an outstandlng nursery al the next Ofsted inspection. Famlly Support Butterflies Mums is Centre4's family support project aiming to reduce the isolation of new parents. increasing their social connection and linking them with services and support for th8 benefit of children and the wider family. Public Health removed funding from the project to pursue its own strategy at the end of the year but through other funding and reseryes we have continued for the duration of the year following signiflcant requests from familles, partners and referrers. Project outcomes for the year: 120 families supported 35 volunteers supporting families with new volunteers recrulted NewAy appointed Project Lead and Project Co-ordinator Established parent and baby w88kly group established at Centre4 Project review undertaken and proposal for ongoing and development funding submitted 4Youth began its activity during the period with the appointment of a new team of Youth Workers. The early stages of the project are focused on youth engagement to ensure that the new building is designed to meet their needs, developing an Advisory Group to steer its development. 4Youth has seen significant investment from the Youth Investrnenl Fund to launch activity and establish our youth facility on our Wootton Road site. CENTRE4 LIMITED (A Company Limited by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 ERA- Ethical Recrultment Agency ERA 1$ a trading company wholly ownod by Centre4 and operates In a commerclal manner doliverlng soc141 out¢ome$. Proud to Care Pilot in partnership with North East Lincolnshire Council In response to a need to reach candld8tes that have the desire to work in the Care Sector but don't know where to start and have struggled to gain employment via traditional routes, ERA'S new Proud to Care pathway is supported by the local Council and the national Home Care employer Hales Group, vtho have branches in North East Lincolnshire. to provide training and temporary work for people that results in permanent employment for the successful candidates. This projed engaged with 15 candidates 12 completed employment checks and 8 accessing shadow shifts 6 in permanent employment 1 is working as temp for ER4 Further highlights throughout the year Secured funding for a new employment agency computer database "Trackerf- ERA'S new CRM system due for implementation in July 2023 Recruited our apprentice into a Trainee Recruitment Consultant role Reviewed the ERA Lead role together with existing Lead - agreed a revised lob description, title (ERA Manager) and salary. ERA continues to build its cli8nt base.. Increased requests to provide temps to the local authority in residential childcare o Now working with CNET- the local authority's preferred provider for recruilment Hales Care Home (Proud to Care pilot) Navigo at Harrison House St Hugh's Explorlng the development and launch of a new temp database for the Early Years and other sectors Part2 Strategy for 202412025 'Devolop our Social Prescribing services throughout North East Lincolnshire. "Thrlve" further 8nd $8Gure fvrther fundlng beyond the end ol th8 year'_ the Contract was successfully secured for a further 6 years with increased capacity lo reach more beneficiarie5. Over the last six months the new contract has embedded with a review of systems. policies, procedures to improve impact and practice. 'Improve the level of community 8ng8g8ment within the activities of Centr84, delivering projects that bnng m8aningful impact for people and communitles, cr88ting a w81coming space, C8ntre4 has invest8d in the refurbishment of an old shower room into a community room to help us achieve this objective. The room was opened to the public in the New Year offering a room that is free to hire for all small community groups and encouraging Social activity and connection. Funding from the East Community Fund allowed us to appoint a Community Activity Co-ordinator to increase community engagemenl resulting in weekly sessions focused on music. mental health support, reading and youth engagemenL CENTRE4 LIMITED {A Company Llmtted by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 'Develop and extend our offer for young peopl6 to the surmunding community, developing our Youth Offer and the development of the new 4Youth cent￿,_ Youth Investment Fund grant enabled the launch of our youth offer to young people of the Nunsthorpe, Bradley estates and surrounding areas. Some discreet activities had begun to take place weekly with the intention of engaging young peopl8 in the design of the build, making it th8ir space. 'Review the day nursery operation, developing a business plan that seeks to ensure Ilnancial sustainability and a high-quality facillty for children and their families. _ early years provision is going through challenging times nationally with many nurseries closing due to financial viability. Buttefflies Day Nursery has been no different but is in the fortunate position to have the support of Ihe charity to maintain its financial position during this year. The planning and financial projections for the following year are positive. concenlraling on allocations and rotas to maximise income. 'Explore a range of projects and initiatives to Trspond to community need, including financial hardship. emotional health and well-being, SO￿.81 isolation and employability," Revlew the room hlre offer, developing a plan lo maxlmlse Income and be a hlgh-quality venue of cholce for training and meetings for our stakeholders. Develop a fNe-year strategy with key business planning for each of the five operational pillars. Develop a Marf(eting and Communication Strategy, investing in marketing resources to support the organisational objectives and targets. GOVERNANCE & MANAGEMENT The previous year's review of Govemance and management structure has seen Centre4 undertake a full review ol its Governance and management structure to ensure It has the ¢apa¢lty to manage the growth In Its provlslon and develop its servlce5 further. To Ihis end the Board took the decision lo employ an experienced interim CEO to provide direct management advice and guidance and direct support to appoint a new and permanent CEO. The Board, with the support of Localty. appoinled Mark Law MBE, former CEO of Barca-Leeds on a short-term contract to undertake this review, reset the governance and reshape the management structure. We are pleased to report that we have revised the structure of the Senior Management Team, reviewed and revised our Mission, Vision and Values and appointed our new pemianent CEO. Tracey Good who joins us with years of experience and will be an enormous asset to Centre4 and the Voluntary sector working throughout North East Lincolnshire. In addition to the review of leadership we have undertaken a thorough review of our key management policies and procedures and financial management policies. We recognise that we need to revlew the way in which our govemance of the organisation maintains a strategic oversighl whilst enabling the SLT to manage the operations of the charity in a professional, prudent way that maximises the public benefit to the communities we serve and Ihe lenant organisations we hostwithin our Centre. Over the next year we will seek to recruit new trustees that share their commitment to the organisation vision and values and hopefully bring in new skills and experience that will support the organisation further. Public Benefrt The Board recognises their duties under the Charities Act 2011 and has referred to the Charity Commission's guidance on public benefits when reviewing their activities and compiling this report. The activities d8scribed above and in the following sections are consistent with the charity's values and aims which, in tum. derive from its charitable objectives. All new and potential developments are assessed for consistency with the strategic business plan and, therefore, for their contribution to public benefit. CENTRE4 LIMITED (A Company Limited by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Oblectlves & Actlvltl•s Improve the level of community engagement within the activities of Centre4, delivering projects that bring meaningful impact for people and communities, creating a welcoming space. Develop and extend our offer for young people to the surrounding community, d8veloping our Youth Offer and the development of the new 4Youth Centre. Review the day nursery operation, developing a business plan that seeks to ensure financial sustainability and a high-quality facility for children and their families. Explore a range of projects and initiativas to respond to community neéd, Includlng flnanclal hardshlp. omotional health and well-being, social isolation and employability. Review th8 room hire offer, developing a plan to maximise income and be a high quality and venue of choice for tralnlng and meellngs for our stakeholders Develop a five-year strategy with a key business planning for each of thé five operational themes Develop a robust and meaningful impact strategy that demonstrates the diff8r8nce that we make for our stakeholders and help us leam, Develop a Marketlng and Communlcation Strategy, investlng In marketlng resources to support the organisatlonal objectives and targets. FINANCIAL REVIEW Golng Concern After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources lo continue in operatlonal existence for the foreseeable future. For this reason, they continue lo adopt the going concem basis in preparing financlal statements. Further details regarding the adoption of the going concern basis can be found in the accountlng policles. Flnanclal posltlon The Consolldated Slatement of Financial Activities shows a net loss for the year of £211.378 made up of a net loss of £125.073 on unrestricted funds and a net loss of £86.305 on restricted funds. The net loss on restricted funds is due to timing differences of income being received and spent. The unrestricted net loss is mostly made up of the £117,965 of designated funds that the Board agreed in the previous accounts to support ERA and to increase the staff of Cenlre4. The remaining £40,000 of the designated funds was used on repairs and refurbishment. Total funds at 31 March 2024 were £2,327,710 of which £1,599.736 were restricted. The principal funding sources for the charity are rent. room hire, nursery fees and contract and grant income that comes from delivering the Advice Service, Social Prescribing and associated projects and the Youth Investment Fund. There will always be an element of uncertainty wtth our fundedlcontracted provision, parttcularly as these are public funds that are subject to year-on-year review. CENTRE4 LIMITED (A Company Llmlted by Guarantee) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Ro8ervos pollcy The board has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserves) held by the charity should be equivalent to three months of the running Costs, which equates lo approximately £199,385 in unrestricted funds. The balance held as unrestricted funds on 31 March 24 was £727,974, ofwhich £574.135 equates tofixed assets. We have approximately 2.5 months of unrestricted reserves. We intend to increase our reseNes by maximizing the extra staff resource we have since the usé of the d8slgnated funds by applying for more grants, contracts and increasing our room hire occupancy. STRUCTURE. GOVERNANCE AND MANAGEMENT Constltutlon Centre4 Is a company Ilmlted by guarantee govemed by Its Memorandum and Artlcles of Assoclation dated 12 September 1995. It is registered as a charity with the Charity Commission. R•Grultment and appolntm•nt of now trust••s Membership conslsts of Full Members wh8r8 an Indivldual subscrlbes to thé memorandum and agrees to membership in accordance wilh the rules made under Article 61 of the Charty. No person shall be admitted as a member of the Charity unless the application for membership is approved by the trustees. Full members are entitled to attend General Meetings and shall have one vote. (1) not18SS than five and not more than eight members elected at the annual general meetlng who shall hold office from the conclusion of that meeting. (2) not less than four and not more than seven nominated members appointed, as follows: local schools. local churches; local colleges, voluntary sector, private sector., publlc sector; and Enterprlse Agency, (3) the executive committee may in addilion appoint not more than three co-opted members. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed. In addition to all powers expressly conferred upon them and wilhoul detracting from the generality of their powers under the articles, the trustees shall have the following powers. namely.. (1) to expend the fijnds of the Charity in such manner as they shall consider most beneficial for the achievement of the objects and to invest in the name of the Charity such part of the funds as they may see fit and to direcl the sale or transposition of any such investments and to expend the proceeds of any such sale in furtherance of the oblects of the charity. (2) to enter into contracts on behalf of the Charity. Organisational structure and decisionrymaking policies The Board of Trustees. which can have up to 15 members and not less than 9, govems Centre4 and meets quarterly. Al the end of this reporling period, we had 8 trustees. We know from our own experience and that of other local charities, that it is difficull to attract new Iruslees. The Board of trustees and senior staff of Centre4 will be having 10 CENTRE4 LIMITED (A Company Llmlted by Guarantae) TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 an away day in Ihe next year to consider future vision and strategy and this will include a review of govemance arrangement5. Policies adopted for tho Inductlon and tralnlng of new trustees New trustees are provlded with a 'Trustee Handbook, and must complete c8rtain documentation pertaining to the Charity's Commission and Companies House. They are also infornied of the content of the Memorandum and Articles of Association. the board and decision-making processes, the business plan and recent financial performanc8 of Centr84. They are also issued with a job description and encouraged lo attend appropriate external training events where these will facilitate the undertaking of their role. Due to the responsibility trustee5 hav8 regarding Buttefflies Day Nursery they must also undertake a DBS check and complet8 all relevant paperwork required by Ofsted. Pay pollcy for key manag•ment remunerallon All directors give of their tlme freely and no direclor received remuneratlon In the year. The pay of the senior staff is reviewed annually and. Whe￿ financially viable, is normally increased in accordance with national inflation rates. In terms of setting the rate of pay the trustees benchmark against other local VCSE organisations but ultimately it Is down to organisalional aftordability. Related partles and Cowoperation with other organisations No trustee Is paid remun8ration for thelr role. however all reasonable expenses such as travel. Irainlng etc. wlll be reimbursed. In thls financial year, there were no contractual relationships with a related paty. STATEMENT OF TRUSTEES, RespoNSIBIUTIES The trustees (who are also the directors of Centre4 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 Accounling Practice) Including Financlal Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale 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 thos8 financial statements. the trustees are required to S8lect sultable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company wlll continue In buslness. 11 CENTRE4 LIMtrED (A Company Llmltod by Guarantee TRUSTEE'S AND STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 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 wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hencè for taklng reasonable steps for the prevantlon and det8dion of fraud and other irregularltles. In so far as the twstees are aware.. there Is no relevant audlt Infomialion of which the charitable companvs auditors are unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditors are aware of that information. AUDITORS The auditors Xeinadin Audil Limited. will not be proposed for re-appoinlment at the forthcoming Annual General Meeting. The trustees,. incorporating the directors, rep trustees. as the company directors, on ...Zi.7.1..I . d the strategic report, was approved by order of the board ol and signed on the board's behalf by.. Mrs A J Ham8s - Trustee 12 CENTRE4 LIMITED (A Cornpany Limlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CENTRE4 LIMITED Oplnion We have audlted the financSal slatements of Centre4 Llmited (the'parent charitable company,) and its subsidiaries (the'group,) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities. the Consolidated Balance Sheet, the Company Balance Sheet, the Con501idaled Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicabl8 law and Unlled Kingdom Accounting Standards, includlng Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, {United Kingdom Generally Accepted Accounting Practice). In our opinion Ihe financial stalements: give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including ils income and expenditure for the year then ended., have been properly prepared in accordance wllh United Klngdom Generally Accepted Accountlng Practlce. and have been prepared in accordance with the requirements of the Companies Act 2006. Ba8ls for oplnlon 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 Audilors. responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit ol the financial statements In the United Kingdom. including the Flnanclal Reportlng Councll'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 relallng to golng concern In auditing the financial statements, we have conduded 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 Gast significanl doubt on the Group's or the parent charitable company's ability to continue as a going Concem for a period of at least twelve months from when the financial ststements 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. 13 CENTRE4 LIMITED (A Company Llmlled by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CENTRE4 LIMITED (CONTINUED) Other Infomiatlon The other inlormalion comprises the information included in the Annual Report other than the financlal statements and our Audilors, Report Ihereon. The Trustees are responsible for the other information contsined within the Annual Report. Our opinion on the financial statements does not cover the other infomiation and, except to the 8Xtent oth8rnise explicitly staled in our report, we do nol express any form of assurance conclusion Ihereon. 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 course of 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 finan¢lal 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 lo report in this regard. Oplnlon on othor matter• pre8crlbed by the Companle8 Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial ststements. the Trustees. Report has been prepared in accordance with applicable legal requirements. Matt•r8 on whlch w• ar• r•qulr•d to r•port by •x¢•ptlon In the light of our knowledge and understanding of the charltable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion- the parent charitable cornpany has not kept adequate and sufficient accounting records, or retums adequate for our audit have not been received from branches not visited by us., or Ihe parent charitable company financlal statements are not in agreement with the accountlng records and returns. or certain disclosures of Twstees, remuneration specrfied by law are not made; or we have not received all the infomiation and explanations we requir8 for our audlt. The trustees were not entitled to take advantage of the small companles ex8mptlon from the r8qulr8ment to prepare a Strategic Report or in preparing the Report of the Trustees Responslbllitles of trustees As explained more fully in the Trustees, Responsibilities Statement. 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 lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Group 14 CENTRE4 LIMITED (A Company Llmlt•d by Guarante•) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CENTRE4 LIMITED (CONTINUED) or the parent charitable company or to cease operatlons, or have no realistic alternative but to do so. Auditors. responsibilities lor 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 an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In a¢¢ordanc8 with ISAS (UK) will always detect a material misstatement when il exists. Misstalements 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. Irregularities. including fraud, are Instances of non 14. Trustees, remunorallon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have be8n incurred (2023 - £NIL). 36 CENTRE4 UMITED IA Comp•ny U¥nlt•d by Gu*rant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAR¢H 2024 15. T•nglbl• Ilx•d ••••ts Group Impro¥•m•nt• t¢* prop•rty Nur••ry •qulpm•n¢ Flxlur•s and Gym •qulpm•n¢ Compul•r •qulpm•nt 8olAr pan•1• Tot•1 Co•1 or v•luatlon At 1 Aprll 2023 2,083,596 32,907 29,067 13,888 55,328 55,800 2,250,586 Addllons 59,668 5,400 13,628 78,694 8po8818 13.0541 111,9971 115,0511 At 31 m)￿h 2024 D•pMclatlon At l April 2023 279,926 32,907 17,131 12,978 2S,391 20,228 319,281 Chorg• lor tho y•gr 42.172 3,147 910 8,623 2,790 $7,642 Ellmln&ted en di$po$&l 1434 19.0501 At 31 March 2024 21 N•t IK*ok W￿￿• At 31 March 2¢24 At 31 Mor¢h 2023 37 CENTRE4 LIMITED IA Cornpany Llmltod by Guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Tanglbl• flxod us•ts Icontlnu•dl Cornyny Impro¥•m•nts to prop•rty Nur••ry •qulpm•nt Flxtur•s and flitlng• Gym •qulpm•nt ¢omput•r •qulpm•nt 8ol•r p•n•l• Tot•1 Co•t or ¥•lu•llon At 1 Aprll 2023 2.083.996 32.907 29,067 13.868 55,328 $5,800 2.250.588 Add5￿9n1 5,400 13.628 78.694 Dlsposals 13,OYI 111,9971 11S.OS11 A131 Mar¢h 2024 D•pr•¢l•tlon 120 Al 1 Aprll 2023 279,926 32,907 17,831 12,978 25.391 20,228 389,261 Ch•rge for th• ￿•r 42,172 3,147 910 8,623 2,790 S7,642 Ellmln8led on Il&po$&l 14341 19,0501 19,4841 A131 Pl•r¢h 2024 N•t book v•lu• A¢ 31 March 2024 Al 31 Mafrrh 2023 The flxed Ogsets 8ra usad in the manogement and arkninistralion of the ch8rlty, and al80 for dlrect ch8ritabl8 purposes In r8$tr1¢1od fvnds prole¢ts. CENTRE4 LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Flxed asset Investmonts Company Inv•stments subsidiary Companies Cost Revaluations At 31 March 2024 N•1 book valu• At 31 March 2024 & 31 March 2023 There were no investment assets outside the UK. 39 CENTRE4 LIMITED IA Company Llmlt•d by Guar•nt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ￿RCH 2024 16. Flx•d as¥•t Investm•nt• l¢ontlnu•dl Prln¢lpal •ub•ldlarl•• The followng w86 a 8ub$idiary undertaking of Ihe Company.. Nam• Comp•ny numb•r R•glst•r•d offlc• or prln¢lp•l Prlnclpal Ktlvlty pl*¢• ol bu•lno8• Cla8$ gf •hares Holdln9 Includ•d In ¢on•olldatlon Elhic81 Recrullmont Ag•n¢y (Grimsbyl Lknited 12166e89 178 Woollon Road. Grimsby. North East Lincoln8hira, DN33 1HE Rocrullmenl Aqoncy Ordlnary 100% Y•$ Th6 flnAnC￿l rn#ults of the $ub81dS1ry forth• yoar wom.. N•m• In¢om• exp•ndltur• PfoflVILo••l I Surpluil ID•llcltl for th• y••r N•t a•s•ts Elhlcal Recrullmeni Agency IGr4m$byl Llmlted 259,518 2•7.33S 137,8171 14862 40 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Debtors Group 2024 Group 2023 Company 2024 Company 2023 Due within ono year Trade debtors 163,686 154,195 117,373 124,481 Arnounts owed by group undertakings 29,629 Prepayments and accrued income 196,571 37,286 186,599 28. 752 18. Credltors: Amounts falling due within one year Group 2024 Gmup 2023 Company 2024 Company 2023 Other loans 7,292 12,500 7,292 12.500 Trade creditors 48,778 39,312 47,675 41.284 Other tsxation and social security 13,941 868 Other creditors 863 214 Accruals and deferred Income. 107,343 57,209 104,250 47,468 159 217 41 CENTRE4 LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19, Credltorn: Amounts falllng due after moro than one year Group 2024 Group 2023 Company 2024 Company 2023 Other loans Included within the above are amounts falling due as follovts: Group 2024 Gmup 2023 Company 2024 Company 2023 8•tween one and two years Other loans Between two and five years Other loans Over five years 20. CONCESSIONARY LOANS During a previous year, the company received a concessionary loan of £50.000 towards the costs of refurbishing the first floor space to support the development of Centre4 as a self-sustaining community hub that benefits local people. The loan can only be used for this purpose, but has no further condits'ons. The total liabillty at 31 March 2024 is £7,292 (2023.. £18,750). The loan is uns8cured, Interest free, and due over 66 months wlth an 18 month repayment holiday at the beginning ol the tem. 21. Accruals and deferred Income Deferred income comprises rents, roorn hire and cleaning income, along with Bus Pass income and nursery fees. whlch relale to the perlod after the year end. Group 2024 Group 2023 Company 2024 Company 2023 Deferred Income at 1 April 2023 18.590 84.386 18.590 84.386 Resources deferred during the year 65,450 18.590 65.450 18.590 Amounts released from previous periods (18,590) (84.386) (18,590 (84,386) Deferred incomè at 31 March 2024 65450a 65 450 42 CENTRE4 LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Statement of funds Statoment of funds - curr•nt y•ar Balance at 31 March 2024 Balance at l Aprll 2023 Incom• Expendlture Unrestricted funds General Funds - all funds 695,082 983.138 1950,246) 727.974 Deslgnated Funds 157,965 (157,965) 853,047 983.138 (1,108,211) 727,974 Restrlctod funds Restricted Funds- all fvnds Centre4 Capital Fund 1,332,879 (34,122) 1,298.757 Stroke Courtyard 568 (113) 455 Digital Library 5,698 {5,698) Advlce 8,595 146,174 1136,303) 18,466 Supporting the clinically vulnerable 1,006 1.006 CC Cash 25,359 10,662 (36,021) Nursery Pupil Premium 2,204 11,380 (13,584) Power to Change Empowering Places 954 {452 502 DAFFEE 4,882 5,286 (1,547 8.621 Social Prescribing 109.939 465,379 {497,231) 78,087 Empowering Places Ind Pot 2,003 {890 Inclusion 15,724 <15,724) Youth Programme 180,156 <86,396) 93,760 CEV Covid 1.298 {1,298) Kickstart 919 919 43 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds Icontlnuod) ststement of funds - current year (contlnued Balance at 31 March 2024 Balance at 1 Aprll 2023 Income Exp•ndltur• Gym 909 (909) Love Where You Live 158 (158 Hardshlp Fund 2,089 4.000 13,634 2,455 Lotto Community Grant 3.306 (3,055 251 PCN Link Worker 1.436 52,991 (54,347) 80 Community Mothers 65,943 (31,635) 34,308 Wellbeing Hub 24,258 40,114 (57,137 7,235 Simply Connect 35,469 (35,469) Wellbeing Weighing 4,773 (4,773) Power to Change (ERA) 20,077 (20,104) (27) Proud to Care (ERA) 2.380 f2,380) Daisy's Wish 224 (224) North Lincs Council 2,972 21,425 (24,3971 Peer Mental Health 12,663 102,226 (87,774) 27,115 Thrive Diabetes 3,080 (1,854) 1,226 Energy Efficiency 10,000 (10,0001 Sports England 7.200 1900) 6,300 Warm Spaces 1,500 (1,500) East Coast 8.829 (8,829) Fit For Everyday 19,320 (9,033) 10,287 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds (contlnued) . Statsment of funds - currnnt year (continued) Balance at 31 March 2024 Balance at 1 April 2023 Income Exp6ndituro Vaccination Capacity Building 10,000 11.500) 8,500 Lincolnshire CC H Cage PEP 353 {32) 321 SparkFund (ERA) 12,725 (12,725) Total Restrlct•d funds 1,686,041 1,115,444 (1,201,749) 1,599,736 Total of funds 2,539,088 2,098.582 (2,309,960) 2,327,710 45 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds (continued) Statement of funds - prlor year Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure Unrestrlcted funds General Funds - all funds 681,014 905, 121 (891,053) 695.082 Designated Funds 200,000 (42,035) 157,965 Total Unreslricted funds 881014 905 121 933 088 46 CENTRE4 LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Statement of funds (continued) 8al8nce at 31 March 2023 Balance at l April 2022 Incorne Expenditure Restricted funds Restricled Funds - all funds History Group 360 (360) Men's Shed Project 2,404 (2.404) C8ntre4 Capital Fund 1,364,440 (31,561) 1,332,879 Stroke Courtyard 710 (142) 568 Digital Llbrary 10,249 (4.551) 5,698 Youth Provision 1,095 (1,095) Advice 34.428 162,519 (188.352) 8.595 Llbrary 8. 742 174 (8,918) Supporting the clinically vulnerable 1.006 1.006 CC Cash 77,261 40.821 (32. 723) 25.359 Nursery Pupil Premium 9,668 8,333 (15,797) 2,204 Power to Change Empowerlng Places 32,620 63,318 (94, 984) 954 DAFFEE 7,396 7,200 (3, 714) 4,882 Social Prescribing 28.197 453,679 (371,937) 109.939 Empowerlng Places Ind Pot 3,515 9,976 (11,488) 2,003 Local Ward 2,000 (2.000) Inclusion 19.670 (19,670) Youth Programme 65,419 (65.419) CEV Covid 5.000 (3, 702) 1.298 Co-op 10.000 (10.000) Kickslart 1,860 (941) 919 47 CENTRE4 LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Stat•rnent ol funds (continued) Gym 3,686 (2, 778) 909 Digitsl Buddies 4.751 (4. 751) Humberside Police (5) NHS App 2,000 (2.000) Love Where You Llve 158 158 Hardship Fund 149 13,000 (11.060) 2,089 Lotto Community Grant 4,521 {1.215) 3,306 PCN Link Worker 51,203 (49,767) 1,436 Community Mothers 41,524 64, 286 (39,867) 65.943 Winier Pressures 30. 765 4.175 (34,939) Wellbeing Hub 101.464 12,081 {89.287) 24, 258 Simply Conne 20,323 33, 800 (18,654) 35,469 Wellbeing Weighlng 7,419 (2,646) 4, 773 Digiial Fund (ERA) 8,236 (8.236) Power to Change (ERA) 25.000 (4,923) 20.077 Proud to Care {ERA) 15,773 (13,393) 2,380 Daisys Wlsh 933 (709) 224 North Lincs Council 12,322 (9,350) 2,972 Peer Mental Health 55.345 (42,682) 12,663 Thrive Diabetes (420) 3,080 ERA Seed Grant 13,105 (13.105) Energy Efficiency 10,000 10,000 Total Restrlcted funds 1. 758,885 1,146,699 (1,219,543) 1,686,041 Total of funds 48 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Incomo Expenditure General funds 695,082 983,138 (950,2461 727.974 Designated fvnds 157,965 (157,965) Restrlcted funds 1,686,041 1,115,444 11,201,749) 1,599.736 2 539 088 2,098,582 2,309,960 2 327 710 Summary of funds - prlor year Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure General funds 681.014 905.121 (891,053) 695,082 Deslgnated funds 200,000 (42.0351 157,965 Restricted funds 1,758,885 1,146.699 (1,219,543) 1,686,041 49 CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Analysls of net assets between funds Analysis of net assets between funds - current year Unroslricted Restricted funds funds 2024 2024 Total funds 2024 Tan9lble fixed assets 574,134 1,302,675 1,876,809 Net current assets 153.840 297,061 450,901 Creditors due in mor8 than one year Total 727 974 1599 736 2 327 710 Analy815 of net assets between funds - prfor year Unrestricted funds 2023 Re51rlcted funds 2023 Total funds 2023 Tangible fixed assets 517,750 1,343,575 1.861,325 Net curr8nt assets 341,547 342,466 684,013 Creditors due in more than one year (6,250) (6,250) Total CENTRE4 LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Reconcillation of net movement in funds to net eash flow from operating actlvltles Group 2024 Gmup 2023 Net Income for the y8ar (as per Statement of Financial Activities) (211.378) (100,811) AdJu8iments for: Depreciation charges 57,642 57,703 Dividends. interests and rents from investments (6,058) (988) Loss on disposal of fixed assets 5,567 Decreasel(increase) in debtors 1168,776) 82,828 Increasel(decreas8) in creditors 73,323 (152,607) Net cash provldad by op•ratlng actlvltles 26. Analy81$ of ¢a•h and cash equlv•leni• Group 2024 Group 2023 Cash in hand 1,416 1,399 Notice deposits {less than 3 months) 267,445 601,235 Total cash and cash equlvalents 51 CENTRE4 LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 27. Analysis of changes in net funds At 1 Aprll 2023 Cash flow8 At 31 March 2024 Analysls of changes In nèt lunds Cash at bank and in hand Analysis of changes In net debt Debt due within 1 year {12,500) 5.208 (7,292 Debt due after 1 year (6,250) 6.250 28. Contlngent Ilabllltles C8rtaln restricted funds are subject to conditions by which th8 contracts and grants received may become repayable if these conditions are nol mel. It is intended thal the condilions imposed by the grant funders will be met and the trustees a￿ not aware of any reason vlhy a grant spent as at 31 March 2024 may be required to be repaid. There is no evidence of returned funding in the post year end cashbook review. 29. Penslon commitments The group operates a defined contribution penslon scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £21.952 (2023.. £19,199). There were no contributions outslanding at the end of the period (2023.. £NIL). 52 CENTRE4 LIMITED (A Company Llmlt•d by Guarnntee) . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 30. Operatlng lease commltments Al 31 March 2024 Ihe Group and the Company had commilments lo make future mSnimum lease payments under non-cancellable operating leases as follows: Group 2024 Group 2023 Company 2024 Company 2023 Not later than 1 year 1,469 171 1,469 171 Later than 1 year and not later than 5 years 2,836 2,836 The following lease payments have been recognised as an expense in the Statement of Financial Acts'vities: Group 2024 Group 2023 Company 2024 Company 2023 Operating lease rentals 228 228 31. Related party transactlons Tharé were no related party transactlons In the period. 32. Controlling party The company Is limlted by guarantee and as such is controlled by Its trustees who, acting as a body, control all aspects of the running of the company. 33. Designated funds The charity has not kept designated funds at 31 March 2024 (2023: £157,965). 34. Donations Within expenditure on charitable activities is a £40.000 donation to Ethical Recruitment Agency Limited. Ihe charity's trading subsidiary. The trustees believe this donation is in line with the charity's primary objectives and the designated funds as per the 2023 Trustee's report. 53