COMPANY REGISTRATION NUMBER: 03107540 CHARITY REGISTRATION NUMBER: 1049540 Walford Mill Education Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 FROST & COMPANY Chartered Accountants Unit C, Regent House 9 Crown Square Poundbury Dorset DT13DY
Walford Mill Education Trust Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Ststement of financial position Notes to the financial statements 10 The following pages do not fomi part of the financial statements Detailed statement of financial activities 19 Notes to the detailed statement of financial activities 20
Walford Mill Education Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 The trustees. who are also the directors for the purposes of company law. present their report and the unaudited financial ststements of the chanty for the year ended 31 March 2024. Reference and administrative details Registered charity name Walford Mill Education Trust Limited Charity registration number 1049540 Company registration number 03107540 Prfncipal office and registered Walford Mill Craft Centre office Stone Lane Immborne Dorset BH21 1NL The trustees MsNJChan Mrs L R Mcclean MrGEHoar Mr T eeler Mr M K(har Mrs J E Hinton Mr J P Allen Mrs K A Allen (Retired 6 December 2023) (Appointed 6 December 2023) Independent examiner Mr Stephen J Frost Unit C, Regent House 9 Crown Square Poundbury Dorset DT13DY
Walford Mill Education Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (confrnuedj Year ended 31 March 2024 Structure. govemance and management Wafford Mill Education Trust Limtted ks a charitable company limited by guarantee. The company is govemed by tts Memorandum and Articles of AssociatK)n dated 28 September 1995 and amended on 16 August 2001. The objects of the charty are to promote, maintsin and advance education and training particularly in the arts and crafts. It is registered with the Charity Commission. registered number 1049540. Members (Friends) of the Trust Walford Mill has 18 members (as of 31 March 2024). We a grateful to the contribution from some of our'Friends' and other members of the public who gNe up their time to volunteer for us. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Appointment of Trustees The trustees who have served during the year and since year end are set out on page 1. The trustees are not rnUnerated. As set out in the Articles of AsSoCptn the Council shall consist of a President, one or more Vice Presidents, a Treasurer and Secretary rf considered appropriate, all of whc#n must be members of the Trust. together with not less than ten or more than tsventy other members of the Trust. The offices of Treasurer and Secretary may be held by one person. The landlord of Wafford Mill shall be entitled to nominate up to two members of the Council. Al each Annual General meeting one third of the Council shall retire from office. or if the number of such members eligible to retum is not three or a multiple of three, then the number nearest to one third shall retire from office. At every such Annual General Meeting the Trust shall elect members of the Council. The officers of the Trust for the ensuing year shall be appointed by the Council at their first rnting after each such Annual General Meeting as aforesaid, and any vacancy in any such offi, during the course of the year shall be filled by the Council. Any member of the Council who ceases for any cause to be a member of the Trust shall ipso facto vacate offr£ as a member of the Council. Trustees Induction and Training New members of the Council of Management are grven an induction to the charity. Board members are invited to attend outside training events when appropriate and when they become available. Governance and Organisational Structure Simon Pine, a fonner Trustee and Chairman of the charity was appointed PresKlent and assumed his role at our AGM in December 2023. The Council of Management comprises of eight members who detennine the policy of the Trust, one of whom is the Chaimian. This includes a member of Dorset Council. Financial constraints have meant that the Charty no longer employs a Chief Executive The related duties are now carried out by various
Walford Mill Education Trust Limited Company Limited by Gudrantee Trustees. Annual Report (Incorporating the Directorfs Report) (conthiued) Year ended 31 March 2024 members of the Board. Meetings are held every three months. In addition to those identified in the Articles, a representstNe Wimbome Town Council is also invited to be a Board member. A representative from the Arts Development Company and an Officer from Dorset Council are also invrted to attend board Meetings as obseNers. A member of the ReSent Makers and our Education Officer also attend to provide information updates. As fnancial constraints prevent us from employing a full-time Chief Executive. we have divided responsibilitEs into six pillars which have been shared between the trustees. These are". Charity RelationslGovemance Business Liaison & Oversight Budget & Finances Building & Facilities Management MarketinglPR Fund RaisingEvent Managent The Trust employs three part-time staff to manage the administration, bookkeeping, site management and social media. Objectives and activtties Objectives Walford Mill Education Trust Limited is a charity whose aim is: _ 1. To promote. maintain. improve and advance education and training in the arts and crafts, and to support artists and makers generally, but particularly those in the South-west of England. 2. To improve the qualty of the artistic programme Public Benefft We beneffted the public by providing exhibrtbons on a wide range of art and craft subjects during the year. These were free for the public to engage with and enjoy. At the same time, we delivered paid workshop sessions in a WKle range of craft subjects, for both adults and children, which were educational, infonnative and instructrie. As well as providing paid workshops for children, we also provided outreach prOgramffs for children. which were free of charge. Risk Management Risk Management is a central part of our organisation's strategic management. The Council of Management monitors the situation on a regular basis with a view to keeping risks to a minimum. We methodically address the risks attached to our activities with the goal of achieving sustained benefrt wrthin each activty and across the portfolio of all our aCtIv"e$. The focus is to identfy these risks and look at how they might affect our organisation and tis objectives. We look at the risks facing our organisation and its operations from both exiemal and internal factors including strategic, operational. financial and compliance risks.
Walford Mill Education Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directovs Report) (contlnued) Year ended 31 March 2024 Summary of Pollcles and Procedures The charity recognises the need for procedures and policies to ensure appropriate management of its relationships with its staff. volunteers, resident makers, and visitors. The following policies and procedures, which are reviewed annually are in place and are readily available to all those that they affect. Sickness Absence Policy Grievance Policy and Procedure Problem Solving Procedure Disciplinary Policy and Procedure for staff Disciplinary Policy and Procedure for volunteers, including Makers and Trustees Volunteer Policy Health & Safety Policy Privacy Policy Employee Privacy Policy GDPR Policy & Register of Systems Whistleblowing Policy Anti-Bultying & Harassment Policy Stalement Equality Policy Environmental Policy Safeguarding Policy Smoking Policy Security Policy Safe working at Walford Mill Policy Strateglc report The following sections for achievements and performance and financial review fomi the strategic report of the charty.
Walford Mill Education Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 March 2024 Achievements and perfomiance Exhibitions are an essential aspect of how the Charty meets its aims and objects and our first exhibrtion of the year was no exception. An outreach project with tsventy, year 12 art and photography students from Queen Elrzabeth's School, the exhibition showed drawings, prints, collage and sculptures created by the students, based on great women throughout history. All together we curated 16 exhibitions in the year including four by resident Makers- past and present as well as emerging Makers exhibiting for the first time, which was provided free and the Artist was supported throughout whole exhibition process including, planning, advertising, framing, hanging, stewarding and selling her work. The number of workshops facilrtated during the year increased substantially from 150 in the previous year to over 200. The take up of adult workshops improved and children's workshops were also very successfulwith record numbers offamilies attending the Easter and Summer School holiday workshops. 82 farnilies attended the summer holiday workshops, covering Drawing, Print, Painting, Clay, Collage and Wire. Our after-school workshops Create, continued to be successful with record numbers attending. Two free Outreach workshops for children were provided.. Walford Mill and HAFF Family Fun Oay delivered in collaboration with Dorset Council, Arts Plus and Little Pickle Café, targeting Free School Meal Students with 4 Artists delivering 4 workshops around the theme of Nutrition. Outreach Planet Wimbome - a family drop-in workshop. Participants worked with artist Sarah Redmond- Fareham to create an installation at Walford Mill about Trees and how important they are environmentally for our survival, nature and the heath of the planet. Installation exhibited in the Education Space for two weeks. Fourteen drfferent tutors provided adult workshops, providing educationltfaining in embroidery, willow weaving, jewellery making, painting, toymaking, ceramics, stencil printing, papercuts and fused glass. We provided work experience for two students from Arts University Bournemouth, one of which was to provide specific textile-based experience - provided by our resident Maker Debby Kirby, and the other was to work with 8 selection of MakerslArtists, to gain general galbery experience and complete her own artwork in a gallery studio during her placement. Our Education Officer had been teaching a home-schooled student during the year 2022-2023. This course ended in May 2023 and the student subsequently passed her GCSE with a grade B equivalent. IAlhilst the use of our Pop-up space for emerging Makers was down at 23 compared with 28 in 2023, two of the Makers have since taken up long term residency and become an essential part of our on-site family. By the end of the financial year eleven MakerslArtists were in SidencY in our long-tenn studios. This was the same as at the previous year-end, however the were Changes in the make-up as some estsblished Makers had moved on and we welcomed new Makers to our family. In order to make more effective use of our site we started holding monthly Courtyard Craft Markets in 2022. During the year to year March 2024. these have become firmly established, offering Craft Makers an outlet for their work at relatively low charge.
Walford Mill Education Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 March 2024 Flnanclal review The Trust's financial position continued to improve in the twelve months to 31 March 2024. Net income was £13,630 compared with £21,458 in 2023, wrth total funds now standing at £163,839. Although our total income was up at £97,852, expenditure also increased from £64,109 to £84,222. This was in part due to an anticipated increase in staff costs. which rose from £12,303 in 2023 to £27,612, after we took on another part-time employee to manage our increasing social media presence and craft market administration. Debtors decreased marginally from £15,028 to £14.823, and although 35'k of those were outstanding for longer than 90 days. they were not considered to be at risk of default. Car Parking fees from Dorset Council continued to improve and are now the Trust's largest income stream. Th8 agreement for car parking fees is in place for the remainder of our lease. Forward bookings for our Education Room and our monthly Craft Market continued healthily and reflect in the increase in Accruals and deferr8d income rising to £15,992 (2023 - £12,511). The Trust has been in receipt of a revenue grant of £10,000 pa for the past thr& years, which supported the funding of our Education Officer. We successfully applied to the Council's Organisational Revenue Support Fund for continued funding and will receive the same grant for the next three years, ensuring we can continue to fund our education programme. The Trust's hvo largest operating costs are electricity charges and waste collection. In January we renegotiated our contract with our waste collection provider, which has reduced our ongoing costs. Our electricity charges had been fixed at a very favourable rate for the past three years, but the current supply contract expires in the coming financial year and will have to be renewed. It is expected that this cost will increase. The onsite Makers continued to volunteer considerable time to m8n8ging the Mill site on a day-t¢>day basis, and we place on record our thanks for their generous support. My thanks also go to my fellow trustees, for their continued support, contributing many unpaid hours to ensure that the Charity continues to meet it aims and commitments. The trustees, annual report and the strategic report were approved on behalf of the board of trustees by.. Mr T F Illheeler Twstee & Director, Walford Mill Education Trust Ltd
Walford Mill Education Trust Limited Company Limited by Guarantee Independent Examlner's Report to the Trustees of Walford Mill Education Trust Limited Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Walford Mill Education Trust Limited {'the charty,) for the year ended 31 March 2024. Responsibilitles and basls of report AS the trustees of the company (and also rts directors for the purposes of company law) you are responsible for the pparatIOn of the financi81 statements in accordance with the requirements of the Companies Act 2006 (Ihe 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the chanty's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under section 145(51{b) of the 2011 Act. Independont examlnerfs statement I have completed my examination. I confirm that no rnatters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination,. or the financial ststements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by char¢ties applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Stephen J Frost Independent Examiner Untt C, Regent House 9 Crown Square Poundbury Dorset DT13DY
Walford Mill Education Trust Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Nots Income and endowments Donations and legacies Investment income Other income 10,543 1,090 86,219 10,543 1,090 86,219 97,852 10,330 452 74,785 Total income 97,852 85,567 Expendlture Expenditure on charitable activities Total expendlture 184,222) 184,222) (84,222 (84,222 (64,109) (64,109) N•t Income and net movement In funds 13,630 13,630 21,458 R•conclllatlon of funds Total funds brought forward Total fund8 carrled fOard 145,850 4,359 150,209 163,839 128,751 159,480 4,359 150,209 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 10 to 17 foTh part of th980 flnanclal statements.
Walford Mill Education Trust Limited Company Limited by Guarantee statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 60,152 61,533 Current assets Debtors Cash at bank and in hand 16 20,875 105,656 19,238 83,849 126,531 103,087 Creditors: amounts falllng due within one year Net current assets 17 22,844 14,411 103,687 88,676 Totsl assets less current liabilities 163,839 150,209 Net assets 163,839 150,209 Funds of the charity Restricted funds Unrestricted funds 4,359 159,480 4,359 145.850 Total charlty funds 18 163,839 150,209 For the year ending 31 March 2024 the charty was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company lo obtain an audit of its financial statements for the year in question in accordance with section 476,. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. es financial 5tatement5 were approved by the board of trustees and aLrthorised for issue on lad are signed on behalf of the board by: Mr T Imieeler Trustee Tho notes on pagos 10 to 17 fomi part of these Ilnancial statements.
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 Generdl Infomiation The chanty is a public benefft entty and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Walford Mill Craft Centre. Stone Lane, Wmbome, Dorset, BH21 1 NL. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab in the UK and Republic of Ireland (FRS 102) (Charrties SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilrties and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional cUencY of the entty. Going concern There are no material uncertainties about the charitrfs abilty to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimate5 and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestrided funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are UnStriCted funds eamiarked by the trustees for particular future project or commitmenL Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 10
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements (conthu•dl Year ended 31 March 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specffic policies are applied to particular categories of income-. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the c05t to the donor or the estirnated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seniices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is COgniSed on an accTuals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charriable trading activtties, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty in undertaking activities that further its charrtable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are inrtially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 11
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements rcontinued) Year ended 31 March 2024 Accounting policies {contlnuedJ Tangible assets (contlnued) An increase in the carying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless rt reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown wbthin other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to wrf(e off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Leasehold property Fixtures and fittings Display and office equipment Over remaining temi of lease 150/0 reducing balance 150/0 reducing balance Impairnient of fixed assets A review for indicators of impainnent is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Ilthere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impainnent testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefrt from the synergies of the combination, irrespective of whether other assets or liabilities of the charty are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charty becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially regnised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 12
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policies {conthu Financial instruments (contlnuerfj here investments in shares are publidy traded or their fair value can otherwise be measured reliably, the investment is subsequentty measured at fair value wilh changes in fair value recognised in income and expendrture. All other such investments are subsequently measured at cost less impaimient. Other finanal instruments. including derivattves, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business tems or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments a subsequently measured at fair value, wtih any changes recognised in the statement of financial actsvrties, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are VieWed for objective evidence of impainnent at the end of each reporting date. If there is objecttve evidence of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments regardless of signrtunce, and other financial assets that are individually significant, these are assessed individualty for impairment. other financial assets are either assessed individually or grouped on the basis of similar credit risk charaderistics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not resuli in a carying amount of the financial asset that exceeds what the carying amount woukl have been had the impainnent not previously been recognised. Limited by guarantee Every member promises, rf the Company is dissolved while he, or she remains a member or within twelve months afterwards, to pay up to £1.00 towards the costs of dissoluiion and the liabilities incurred by the Company while the contnbutor was a member. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and subscriptions 543 330 330 Grants Dorset Council 10.000 10.OIXI 10,000 10,000 10,543 10.S43 10,330 10,330 13
Walford Mill Education Trust Limited Company Llmited by Guarantee Notes to the Financial Statements (¢ontlnu•d) Year ended 31 March 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 1,090 1,090 452 452 Other income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Rents received Sundry income 86,219 86,219 73,642 1,143 73.642 1,143 86,219 86,219 74,785 74,785 Expendfture on charltable actlvltles by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Craft Centre Support costs 80,142 4,080 80,142 4,080 59,661 4,448 59,661 4,448 84,222 84,222 64,109 64,109 Expendlture on charltablo actlvltles by actlvlty type Activities undertaken direct Support Total funds costs 2024 Total fund 2023 Craft Centre Governance costs 80,142 80,142 4,080 84,222 59,661 4,448 4,080 80,142 4,080 64,109 10. Analysls of governance costs Analysis of govemance costs Total 2024 Total 2023 Staff costs Govemance costs - Accountancy fees Govemance costs - Legal and professional fees 2.056 2,025 2,056 2,025 1,522 1,713 1,213 4,081 4,081 4,448 14
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements fconthiued) Year ended 31 March 2024 11. Net income Net income is stated after chargingl(¢rediting): 2024 2023 Depreciation of tangible fixed assets 4,363 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 2,025 1,713 13. Staff costs The total staff costs and employee benefrts for the reporting period are analysed as follows.. 2024 2023 Wages and salaries 27.612 12.303 The average head count of employees during the year was 212023.. 2). The average number of fulktime equivalent employees during the year is analysed as foll0v.. 2024 2023 No. Number of staff No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 14. Trustee remunerdtlon and expenses No remuneration or other benefts from employrnent with the charity or a related entty were received by the trustees. 15
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 15. Tangible fixed assets Display & Office Equipment Land and Fixiures and buildings fftiings Total Cost At 1 April 2023 Additions 92,251 39,505 3,163 17,011 148,767 3,163 At 31 March 2024 92.251 42,668 17,011 151,930 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 41.846 2,400 30,754 1,787 14,634 357 87,234 44,246 32,541 14,991 91,778 Carrylng amount At 31 MarGh 2024 48,005 10,127 2,020 60,152 At 31 March 2023 50.405 8,751 2,377 61,533 16. Debtorn 2024 2023 Debtors Prepayments and accwed income 14,823 6,052 15,028 4,210 20,875 19.238 17. Credltorn: amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 5,661 15,992 501 690 1,246 12,511 620 22,844 14,411 16
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnu•rfJ Year ended 31 March 2024 18. Analysls of charitable funds Unrestricted funds At Income Expenditure 31 March 24 At 1 April 23 Unrestricted Funds 145,850 97,852 (84,222) 1 $9,480 At Income Expenditure 31 March 23 At 1 April 22 Unrestricted Funds 124.392 85,567 (64,109) 145,850 Restricted funds At Income Expenditure 31 March 24 At 1 April 23 Bridge Fund 4,359 4,359 At Income Expenditure 31 March 23 At 1 April 22 Bridge Fund 4,359 4,359 19. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 60,152 122,172 122,844) 159,480 60,152 126,531 122,844) 163,839 4,359 4,359 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 61,533 98,728 114,411) 145,850 61,533 103,087 (14,411) 150,209 4,359 4,359 17
Walford Mill Education Trust Limited Company Limited by Guarantee Management Inforniation Year ended 31 March 2024 The followlng pages do not fomi part of the flnanclal statements. 18
Walford Mill Education Trust Limited Company Limited by Guarantee Detsiled Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donatlons and legacies Donations and subscriptions Dorset Council 543 10,000 10,543 330 10,000 10,330 Investment Income Bank interest receivable 1,090 452 Other Income Rents received Sundry income 86,219 73.642 1,143 86,219 74,785 Total Income 97,852 85,567 Expendlture Expenditure on charitable activltles Wages and salaries Rates and water Light and heat Repairs and maintenance Insurance Legal and professional fees Telephone Depreciation Print, post and stationary Computer expenses Cleaning Bank charges Publicty Sundry expenses Tutor fees 27,612 816 7,698 5,982 3,960 2,024 1,641 12,303 3,625 9,000 3,458 2,926 1,437 4,363 2,184 690 7.011 303 2,170 330 10,745 2,764 1,243 6,514 393 3,141 896 14,994 84,222 64,109 Totsl expendlture 84,222 64,109 Net income 13.630 21,458 19
Walford Mill Education Trust Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitable activities Craft Centre Activities undertaken directly Wages Rates & water Light & heat Repairs & maintenance Insurance Telephone Depreciation Print, post and stationary Computer expenses Cleaning Bank charges Publicty Sundry expenses Tutor fees 25,556 816 7.698 5.982 3,960 10,781 3,625 9,000 3,458 3,564 1,437 4.363 2,184 690 7,011 303 2,170 330 10,745 2,764 1,243 6,514 393 3,141 896 14,994 80,142 59,661 Govemance costs Govemance costs - wageslsalaries Govemance costs - accountancy fees Govemance costs - legal and other professional fees 2,056 2,024 1,522 1,713 1,213 4.080 4,448 Expenditure on charitable activitie5 84,222 64.109