WILLENHALL COMMUNITY FORUM LIMITED REPORT AND FINANCIAL STATEMENTS 31 March 2024 Registered No. 03125686 Charity Registered No. 1057458
WILLENHALL COMMUNITY FORUM LIMITED REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 Registered No. 03125686 Charity Registered No. 1057458 CONTENTS Page Trustees, Annual Report Report of the Independent Examiner 8 Statement of Financial Activities Balance Sheet 10-11 Statement of Cashflows 12 Notes to the Financial Statements 13-25
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT 31 March 2024 The trustees who are the dirertors of the charitable company present their repjrt and the independently examined financial statements for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE INFORMATION Charity name Willenhall Community Forum Ltmited Company Registered Number 03125686 Registered Charity Number 1057453 Company Registered Office Willenhall Education, Employment and Training Centre Robin Hood Road Coventry CV3 3AN Trustees The tru5tee5 of the charltable company during the year to 31 March 2024 were a5 follows: Mr R P Lakha Mrs R M McAuley Iresigned 3 Ottober 20231 Mrs l M Weir Mrs C E Thom35 Mr F O Agboola Reverend F E Onwa lappointed 3 October 20231 Mr M S Ohadda (appointed 14 March 20241 Secretary Mrs CA Linney Senior Management team Mr B Bradley (from May 20231 Others Independent Examiner5 ets Audit Serwices 3mc Middlemarch Business Park Siskin Drive Coventry Warwickshire CV3 4FJ Bankers Unity Trust Bank PIC Four Brlndley Place Birmingham B12HB Solicitors Rotherham & Co 8/9 The Quadrant Coventry CVI 2EG
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT 31 March 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Constitution of the charitable company The charitable company was incorporated under the Companies Act 1985 on 14 November 1995 as a company limited by guarantee and not having a share capital. Its Governing Instrument5 are its Memorandum and Articles of Association which empowers the trustees to manage the busines5 of the charitable company and, at their discretion admit full or associate rnernber5. Only full membe15 may vote in General Meeting. The company was awarded charitable status by the Charity Commission on 10 August 1996. Organi50tional Structure The organisation has a main board made up of all Tru5tee5 and Directors. The charitable company owns the whole of the equity share capital of a subsidiary trading company, Willenhall Community Forum (Trading) Limited, which has a directorship that is expected to be made up of 66% of directorsltrustees from the main board and 33% independent membership. At 31 March 2024 the trading company had one dirertor who was independent of the main board. 80th boards meet simultaneously on a regular basis and reports are made from the trading company to the main board and vice ver5a. Joint decisions and discussions take place and are approved at a full board meeting. Senlor staff employed by the organisation produce monthly reports to the main board. Statt representative5 attend the main board meeting. Representatives from appropriate stakeholders are invited to attend meetings to observe. This grouping comprises mainly relevant interested parties. Electlon of Trustees/DirectDr5 The Directors and Trustees are nominated on an annual basis from the representative organisational base. This base includes community and voluntary organisations providing seNices in Willenhall and Willenhall Wood that are alike to the aims of the organisation. Each organisation nominateslelects a "voluntarf, representative from their membership or user group. This representative may change tsn an annual basis. Nominations are presented to the Annual General Meeting and the voting take5 place from within the membership to accept/reject new members. Trustee induction and training New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making process, the business plan and recent financial performance of the charitable company. During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate trainin8 events where these will facilitate the undertaking of their role. Remuneration of key management personnel The Directors consider that the Board of Directors, who are the charity's Trustees, and the Centre Manager comprise the key management personnel for the governance, running and operation of the charity on a day to day basis. All directors give of their time freely and no director received any rernuneration in the year. The pay of the senior staff is reviewed annually by the trustees.
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT (continued) 31 March 2024 Volunteers Volunteering opportunities for members of the local community continues to be important for us both in supporting the work we do and providing chances for local people to improve their skills. We have increased the breadth of volunteering this year to now include roles to help maintain and improve our green spaces. Those who volunteer at Communi-tea continue to be the backbone of our delivery at the Hagard. Risk Management The Forum continues to take risk management seriously and assesses the risks of new and pilot services and projects whenever they are planned. Legal risks continue to be monitored to ensure that prevention of risk is addressed and protection is adequate where this is required. The or8anlsatioll takes a continuous improvement approach to risk and uses regular risk assessment to improve the state of the organisation, it5 services, assets and 5tafPing. OBJEcnvES AND AcnviTIES The charitable ¢ompany's objerts are the relief of the inhabitants of Willenhall and Willenhall Wood and the surrounding area by associating with the local authorities, voluntary organisatlons and local inhabitants in a common effort to provide, or assist in the provision of, facilities for education and recreation or other leisure- time occupations for the inhabitant5 and in particular to provide and maintain an education, training and advice centre. The policles adopted in order to further the Charitable Objectives are.. To fully extend and develop a range of opportunities available to local people at the Willenhall Education, Employment and Training Centre. To develop ar¢d build on our growing relationship with members of the local community and prioritise those who are most isolated. To further links with partnership agencies in order to target those with the greatest need. To implement strategies to develop and enhance the service available at our on-site childcare provision. To ensure that our community centre delivers a range of service and activitie5 which are accessible to local people. To develop pilot activities to encourage younger people to become more engaged in the community in which they live. To create greater opportunity for the involvement of local residents in the services and projects that the Forum deliver. bl dl fl gl In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit It is down to the dedication and loyalty of the staff team that we remain a dynamic and focused organisation working with some of the most disen8aged families in our community. The experience that the team draw on is well grounded in working with our communities to give them a voice. Whatever the future may hold for the organisation, it is still important that our core work continues "to build better and stronger Willenhall through the active involvement of the community to find solutions to local problem5" in line with our established delivery objectives:
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT Icontinued) 31 March 2024 Unemployment & Worklessne55 Poverty and Disadvantage Children & Young People Inclusion & Cohesion Isolation Leisure, Learning and lifestyles changes There is an ongoing dialogue to measure the effectiveness of the work and our commitment to the community involvement whilst recognising that we are competing with other local organi5ation5 in a variety of settings for funding. Why do we do this? It is because we believe in the work we do and the area in which we live and serve. Against this backdrop for the year the organisation is pleased to be able to offer the following review of the current activities, projects and services: ACHIEVEMENTS AND PERFORMANCE This year we have continued to develop and deliver services to the community of Willenhall. Our nursery currently has over 100 children enrolled across our two sites and our holiday club for older children continues to be an important part of our provision. Our newest servlce is a creche in partnership with Coventry Clty Councils Adult Education Service. The creche operates in term time and provides childcare for adult learners accessing ESOL provision on site at WEETC. Our Education, employment and training centre continues to be well booked and used with adult education, external training providers and religious groups. We have also seen an increase in local community use over the course of the past 12 months. The Hagard Community Space remains the central point of providing services and activities to the local community who retain a sense of ownershlp. We have regular groups in partnership with provider5 such as the YMCA, Grapevine and health service5 that play a pivotal role in providing leisure, learnin8 and lifestyle activities. Poverty and Disadvantage Food Provlsion We have continued to operate our food hub throughout the year opening every sing5e Wednesday. We continue to see high demand for this service from single person households and in particular families that are imparted by the cost of living crisis and give out a5 many as 100 food packages per week. We continue to support a range of activities by external providers to ensure that local members of the community have access to nutritious food including the Saturday breakfast club and Trussell Trust Food Bank. Independently and through partnership working with the Coventry Food Network to advocate on continued support for emergency and short term food provision. Wlllenhall Market The market has continued to add a valuable contribution to the local economy and provide a vital service to the local residents.
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT (continued) 31 March 2024 Community artivity We continue to run our ever-popular day trips to UK holiday destinations at an affordable price to ensure the local community ha5 an opportunity to get away and enjoy the sea air We have also increased the amount of cornmunity activities we put on to ensure local farnilies have fun and safe activities for children of all ages including multi-cultural Partnership working We recognise that the Forum cannot deliver all the Services needed in the local area and we continue to build partnerships with statutory services and other voluntary sector partners to ensure they get the right support at the right time for their personal needs. This year we launched and chaired the Willenhall Voluntary Sector Partnership that support the voluntary sector to coordinate activitie5 and 5UPPOrt as well as ensuring great partnership working with the statutory 5ettor. We also advocate on behalf of the local community during public consultation5. We continue to work in partnership with statutory and voluntary sector partners to deliver excellent services to the people of Willenhall including working to develop a Willenhall Net to ensure support for individuals in need across the area. Children and Young people Eureka Nursery Our Eureka nursery at WEETC has up to 70 children attend each and every day throughout term time. Eureka also runs very popular school holiday clubs for school aged children ensuring a safe place to learn and have fun while ensuriftg their parents can continue to work. Eureka prides itself on our work and support to children with Special Educational Needs ensuring they have the best support available to meet their needs. We will be launching a creche in partnership with Coventry City Council to deliver 8 spaces for the children of learner5 accessing ESOL lessons on slte. We continue to play an active role in our community in organising trips and activities as part of the children's development. Eureka Discovery Hut Childcare was available for up to 44 children aged 2-4 years. all of whom were receiving state voucher5. Staff work closely with the children's parents/carers to ensure that the children's needs. some of which are SEN. are met and compliment home and nursery activitie5. Safe guarding children Safe guarding children continue5 to be the highest priority for all at Eureka, and staff continue to receive a range of safeguarding courses during induction and part of their continuous profe55ional development. We have a 5afe8uarding lead who develops our Safeguardin8 Policies and Procedures meeting industry best practice and lead5 on all of our work with children at risk. We continue to ensure our staff are trained in safeguarding children and keeping up with best practise.
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT Icontinued) 31 March 2024 The Hagard Community Space In March 2024, the Hagard Community Space turned 60 with a birthday party to match. We continue to plan for the future to ensure the centre is fit for purpose for the next 60 years. This year ha5 seen u5 giving the internal building a new lease of life with murals designed and painted by young people workin8 in partnership with the YMCA. The Hagard has been the centre where many people can find a warm welcome, take part in activities. delivered by resident5 for residents. Our café continues to be the centre point for the local community to meet friends and family. Thousands of people access the Hagard each and every year and a wide ro nge of 5tatutDry services, charities and local people book it to host their activities and events. We juggle with the challenge of making our hire costs as competitive and affordable as P055ible while a150 facing increasing run nlng and repair costs. FINANCIAL REVIEW The financial stotement5 Show total income of £823,041, an increase of £44,553 on 2023 and total expenditure of £817,859, an increase of £42,8S5 on 2023. This has led to net income of £5,182 for the year compared to net income of £3.484 in 2023. Principal fvndlng sour¢e5 As a result of increasing constraints on local authority expenditure the charity has to seek funding from a broader group of agencies. The principal funding sources are the income generated from thE hiring of facilities at our centres and the gift aided profits of the trading subsidiary. Investment pollcy The charitws reserve5 are held with a UK bank ir¢ an interest-bearing account linked to the charity'5 current account which allows for same day money transfer. Reserves policy Objertives of the reserves pollcy To ensure that all reserves accumulated will be used to meet the following abjectives: To resource the central core functions of the organisation. This includes management, administration and building running c05t5. To fund material buildin8 maintenante considering the age of the property. To provide for potential redundancy. To assist in piloting new and innovative areas of work that will not attract rn3in stream funding. Reserves pollcy and going ¢on¢ern The Trustees aim to maintain general reserves in unrestricted funds (that is those funds not tied up in fixed ssets. designated funds and restricted fund51 at a level that considers the financial requirements of the charity. This would include anticipated income, future funding and expenditure to which the charity is committed
WILLENHALL COMMUNITY FORUM LIMITED TRUSTEES, ANNUAL REPORT (continued) 31 March 2024 The charity does not have the security of long-term funding; cash flow and continuity of funding have been identified among the main rlsks facing the charity. Therefore, it is the view of the trustees that a sufficient level of reserves are held to maintain the financial viability of the charity and consider5 the most appropriate level of free reserves at 31 March 2D24 would be six month's operating cost5 of both the charity and it's trading subsidiary lapprox £408,900). The actual free reserves at 31 March 2024 were £462,884. The trustees have reviewed the circumstances and consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future and are of the view that the charitv 15 a going concern. ThSrd party Indemnlty provision for trustees Qualifying third party indemnity provision is in place for the benefit of all trustees of the charitable company and the subsidiary compony Willenhall Community Forum (Tradlngl Limited. CONNECTEO CHARITIES AND ORGANISATIONS During the course of the financial year we have worked hamioniously and productively with a range of organisations in order to maximlze the impart of our work and better meet our charitable objectives. We have worked with the followlng organlsatlons: Groundwork West Midlands Willenhall Association Trust IThe Hut) Citizen Housing Coventry & Warwickshire YMCA Betty Ennis foundation Grapevine Coventry City Council Trussell Trust Foodbank Adult Education Coventry Willenhall Library Coventry City Councll Resilience team NHS Willenhall Mens Support Group On behalf of the Boa R P Lakha-Trustee
WILLENHALL COMMUNITY FORUM LIMITED INDEPENDENT EXAMINER'S REPORTTOTHE MEMBERS OF WILLENHALL COMMUNITY FORUM LIMITED I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on page5 9 to 25. Responslblllties and basis of report As the charity's trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'l. 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 exarnination, I report in respect of my eXaminatorn of your charity's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Since the companvs gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales, whith is one of the listed bodies. I have completed my examination. I confirm that rbo matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities I have no concerns and have come across no other matters in connertion with the exarnination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. RobertAnderson FCA Azets Auditservices 3mc Middlemarch Business Park Siskin Drive Coventry Worwickshire CV3 4FJ
WILLENHALL COMMUNITY FORUM LIMITED CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES (INCORPORATING INCOME AND EXPENDITURE) for the year ended 31 March 2024 Unrestrlcted Restrlcted Funds Funds Total 2024 Unrestricted Restrlcted Funds funds Total 2023 Note (Note 14) (Note 14) Incoming resources Artlvltles for generating fund5 Trading income {incl. trading subsidiary income) Investment income 733,651 16.556 750,207 689,550 34,550 724,100 12,147 12,147 4,323 4,323 Incoming resources from charitable activltles Grants receivable Other income 44,121 6,783 44,121 16,566 36,424 4,863 36,424 13,641 9.783 8,778 Total Incomlng resources 755,581 67,460 823,041 702,651 75,837 778A88 Resources expended Cost of 8enerating funds Costs of generating voluntary income Trading costs lincl. tradlng subsldiary expenditure) 5,777 5,777 5,099 5,099 498,042 30,496 528,538 488,849 42,991 531,840 Charltable artivities 206,260 54,149 260,409 168,251 48,430 216,681 Governan¢e costs 23.135 23,135 21,384 21,384 Total resources expended 733,214 84,645 817,859 683.583 91,421 775,004 Net incomln81{out8olng) resources being net movement fvnds 22,367 117,1851 5,182 19,068 115,584} 3,484 Transfers between funds 121 Fund balances brought forward at IApril 470,833 47,945 518,778 451,767 63,527 515,294 Fund balances carried forward at 31 March 493,200 30,760 523,960 470,833 47,945 518,778 The Consolidated Statement of Financial Activities include all gains and losses in the year. All incoming resources and resources expended derive from continuing activitie5.
WILLENHALL COMMUNITY FORUM LIMITED BALANCE SHEET at 31 March 2024 Company Registration No. 3125686 Group Charitable Company 1024 2023 2024 2023 Note Fixed assets Tangible fixed a55ets Investments io li 42,085 37,930 42,085 37,930 42,085 37.930 42,088 37.933 Current assets Debtor5 Cash at bank 12 55,297 560,835 44,917 562,509 30,076 548,651 23,258 523,737 616,132 607,426 578,727 546.995 Creditors: amounts falling due within one year 13 (134,2571 1126,5781 196,8551 166,1501 Net crftt a55ets 481,875 480,848 481,872 480,845 Net assets 523,960 518,778 523,960 518,778 Funds UnstrIrted funds - General fund 14 493,2 470,833 493,200 470,833 Restrirted funds 14 30.760 47.945 30,760 47,945 14 523,960 518,778 523,960 518.778 For the year ending 31 March 2024 the company was entitled to exemption from audit under settion 477 of the Companies Act 2006 relating to small companie5. Directors, responsibilitie5'. The members have not required the company to obtain an audit of its accounts 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 accounts. 10
WILLENHALL COMMUNITY FORUM LIMITED BALANCE SHEET (Continued) at 31 March 2024 Company Registration No. 3125686 For the financial year ended 31 March 2024, the company was entitled to exemption from audit under the Compt7nie5 Art 2006,1s. 477 relating to small companies) and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with s. 476. These financial statements are prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements on pages 9 to 25 were approved by the trustees on ané authori5ed for issue on i 9 rXIo.giI)..wl.2024 and are signed on its behalf bv.. R P Lakha Trustee.. Charity number: 105 458 Company number.. 03125686
WILLENHALL COMMUNITY FORUM LIMITED CONSOLIDATED STATEMENT OF CASHFLOWS 31 March 2024 2024 2023 Cashllows from Operatlng Artivities Operating Profit for the year 5,182 3,484 Adjustments for.. Depreciation charged in year Ilncreasel in Debtors Increase / (Decrease) in Creditors Interest Received 19,259 110,3801 7,679 112.1471 16.913 12.9251 18.2541 14,3231 Net Cash from Operating Activities 9,593 495 Cashfiow5 from Investing Arti¥itie5 Purchase of Fixed A55ets during the year 123,4141 Net Cash from Investing Activities 123,414) Cashflows from Financing Artivltles Interest Received 12.147 4.323 Net Cash frorn Financing Activities 12,147 4323 Net {Decreasel / Increase in Cash and Cash Equlvalents 11,674) 9218 Cash and Cash Equivalents at beginning of year $62,509 553,291 Cash and Cash Equivalents at end of year 560,835 562,509 12
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 March 2024 ACCOUNTING POLICIES Company information Willenhall Community Forum Limited is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Willenhall Education, Employment and Training Centre. Robin Hood Road, Coventry, CV3 3AN. (Charity number.. 1057458, Company number.. 031256861. bl Basis of preparatlon The consolidated financial Statements have been prepared under the historical cost convention. The financial statements of the charitable company, which is a public beneflt entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191" Financial Reporting Standard 102 'Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial staternents are prepared in Sterling. which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £. Golng concern As with most charities, the trustees are mindful of the uncertain timing of incoming resources. At the time of approving the financial statements, the trustees have a reasonable expectation that the chèrity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basi5 of accounting in preparing the financial statements. dl Basls of consolidation The consolidated financial statements incorporate those of Willenhall Community Forum Lrmited. and its subsidiary, Willenhall Community Forum (Trading) Limited. All intra-group transactions, balance5 and unrealised gains on transactions between group companies are eliminated on consolldation. Both companies, financial statements are made up to 31st March and employ consistent accounting policies. Tan8ible flxed assets and depreclatlon Depreciation is provided on all tangible fixed assets at rate5 calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Leasehold land and buildings Fixtures, fittings and equipment over the period of the lease over 4 years 13
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 Investments The investment in the trading subsidiary is stated at cost. gl Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at trarTrsartion price. Any losses arising from impairment are recognised in expenditure. h) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Restrirted fund5 are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for porticular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. Incorning resources Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised when there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when- The donor specifies that the grant or donation must only be used in future accounting periods or; The donor has imposed conditions that must be met before the charitable company has unconditional entitlement. Income from commercial trading activities is recognised as earned las the related goods and services are provided). Investment income is recognised on a receivable basis. Income from charitable activities includes income receivable under contract or where entitlement to grant funding is subjett to specific performance conditions and is recognised as earned {as the goods or services are provided). Grants included in this category provide income to support performance activities and are recognised where there is entitlement, certainty of receipt and the amount can be measured with sutticient reliability- Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied 15 recognised as a 14
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 Resources expended Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recogni5ed as goods and seiceS are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable. Costs ot generating funds are those cost5 incurred in attracting voluntary income and those incurred in trading activitie5 that raise funds. Charitable activities include expenditure associated with carrying out the charitable functions and include both the direct costs and support costs relating to these activities. Governance costs include those incurred in the governance of the charitable company and its assets and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources e.g. staff costs by the estimated time spent and other costs by their estimated usage. kl Leased assets and obllgatlons All leases are "operating leoses" and the annual rentals are charged to the staternent of financial activities Oll a Straight-line basis over the lease term. Retlrement benefit5 Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. JUDGEMENTS AND KEYSOURCES OF ESTIMATION UNCERTAINTY In the application of the charitable 8roup and companvs accountin8 policies, the directors are required to make judgements, e5timate5 and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other fattor5 that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing ba515. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision only affects that period, or in the period of the revision and future periods where the revision afferts both current and future periods. 15
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 FINANCIAL ACTIVITIES OF THE CHARITABLE COMPANY The financial activities shown in the consolidated statement of financial attivities includes those of the charitable company's wholly owned subsidiary Willenhall Community Forum (Trading) Limited. A summary of the financial activities undertaken by the charitable cornpany is set out below. 2024 2023 Gross incoming resources 294.503 246.648 Fundraising costs of grants and donations Charitable activities Governance costs 15,7771 1260,4091 123,1351 15,0991 1216,6811 121,3841 Net incoming/loutgoingl resources Total funds brought forward 5,182 518,778 3,484 515,294 Total funds carried forward 523,960 518.778 Represented bv: Aestrirted income funds Unrestricted income fund5 30,760 493,200 47,945 470,833 NET INCOMING/IOUTGOINGI RESOURCES 2024 2023 Net incominglloutgoing) resources is Stated after charging". Auditorllndependent exarninerfs remuneration auditlindependent exam Operating leasps rent payable plant and machinery Depreciation of tangible f ixed asset5 - owned a55ets 3.480 2,972 4,600 4,351 4,600 3,005 19.259 16,913 TRUSTEE REMU NERATION AN D RELATED PARTY TRANSACTIONS None of the trustees received any remuneration or expenses during the current year or previous year. Durlng the year. £1,46412023.' £1,442) wa5 paid for Trustees Indemnity Insurance. No trustee or other person related to the charitable company had any personal interest in any contract or transactlon entered into by the charitable company during the year12023.. Nill. 16
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 INVESTMENT INCOME Unrestrfrted 2024 Restricted 2024 Totsl 2024 Unrestrirted 2023 Restrirted 2023 Total 2023 Interest Received 12,147 12.147 4,323 4.323 GRANT INCOME During the year restricted income grants were received amounting to £44,12112023= £36,424), which included a total ofE35,719 from Coventry Food Network to supportthework of the Food Hub. No other unre5trirted grants were received12023- £Nill None of these amounts are repayable. OTHER INCOME Unrestrirted 2024 Restrlrted 20Z4 Total 2024 Unrestrirted 2023 Re5trirted 2023 Total 2023 Donatlons rickets & Events aothes bin rent Employers Allowance 6.783 7.469 2.997 I,IcKJ 5,C0 630 3.148 4,863 5,493 3,148 2,997 I,ioo 5,000 5.000 5,000 9,783 6,783 16,566 8,778 4,863 13.641 17
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 TOTAL RESOURCES EXPENDED Staff Costs Grants Payable Support Costs Total 2024 Total 2023 Depreciation Costs of generating lunds (Unrestricted) Cost of generating voluntary income Trading costs Charitable Expenditure Governance 5,340 418.380 126.266 18,688 437 79,662 68,582 4,447 5.777 498,042 206,260 23,135 5.099 488,849 168,251 21,384 11,412 568.674 11,412 153,128 733,214 683.583 Staff Costs Grants Payable Support Costs Total 2024 Total 2023 Depreclatlon Cost5 of generatlng funds (Restrirted) Cost of generating voluntary income Trading costs Charitsble expenditure Governance 29.741 4,324 755 41,978 30,496 54,149 42.991 48,430 7,847 34,065 7,847 42,733 84,645 91,421 2024 2023 Staff costs: Wages and salaries Social security costs Pension costs 556.628 36,607 9,504 558,197 36,495 8.897 602,739 603.589 Number Number Average nurnber of persons employed by the Eroup was as follows,. 40 37 There were no employees whose emoluments exceeded £60,CKJO12023.. Nill. The total amount of ernployee benefits received by key personnel is £35,06212023'. £32,192) 18
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 TOTAL RESOURCES EXPENDED Icontinuedl 2024 2023 Support costs include: Rent and roorn hire General and water rates Light and heat Insurance Office expenses Advertising Repairs and renewals Medical supplies and cleaning General supplie5 Training Nursery resources and activity Events and projects Other staff expenses and travel Sundry expenses Professional fees Bank and credit charges Bad debts recovered Bad debts 20,984 2,725 51,906 11,770 11,034 360 9,153 7,474 20,233 995 5,524 21,647 8,776 6,396 16,311 I,ioi 17261 198 19,836 5,165 33,186 9,382 10,115 360 12,553 7,608 20,164 744 9,831 7,066 1,033 4,760 10,642 1,187 11,2051 349 195,861 152,776 io TANGIBLE FIXED ASSETS Leasehold land and buildings Flxtures fittings & equipment Group and Charitable company Totsl Cost l April 2023 Additions Disposals 773,460 91,228 23,414 864,688 23,414 31 March 2024 773,460 114,642 888,102 Depreciation l April 2023 Charge for year Eliminated on disposal 739,555 13,564 87,203 5,695 826,758 19.259 31 March 2024 753,119 92,898 846,017 Net book amount 31 March 2024 20,341 21,744 42,085 31 March 2023 33,905 4,025 37,930 19
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 Future capital commltments There were no capital commitments at 31 March 202412023: £Nil) li FIXED ASSETINVESTMENT Investment Sn subsidiary undertaking Cost At 31 March 2024 ané 31 March 2023 The parent charitable company holds the whole of the equity share capital of Willenhall Community Forum (Trading) Limited, a company incorporated in England. Its principal activity 15 to raise fund5 for the charitable company, this includes nursery care, room hire and functions. All activitles have been consolidated on a line by line basis in the SOFA. The total net profit is gifted to the charitable companv. A summary of the results of the Subsidiary is shown below.. 2024 2023 Turnover Cost of sales 580,061 {491,4481 576,041 1498,170} Gross profit Administrative expenses Interest receivable Other operating income 88,613 137,0901 77,871 133,6711 1,000 4,500 52,523 48,700 Gift aid to Willenhall Community Forum Limited 152,5231 148,700) Retained in the company The aggregate of the a55ets, liabilities and funds was as follows.. Assets Liabilities 103,005 1103,0021 96,272 196,2691 Funds - representing 3 ordinary shares of £1 each12023: 31 and a profit and loss account of £Nil12023: £Nill 20
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 Group Charltable Company 2024 2023 2024 2023 12 DEBTORS Trade debtors Amounts duefrom subsidiary undertaking Other debtors Prepayments and accrued income 28,403 23,198 16,605 15,198 26,894 21,719 13,471 8.060 55,297 44,917 30,076 23.258 13 CREDITORS Group Charitable Company 2024 2023 2024 2023 Amounts falling due within one year: Trade creditor5 Amount5 due to subsidlary undertaking Other taxation and social security Other creditors Accrua15 and deferred income 24.155 17,TrJ2 9,264 65,6C 3,987 7,356 10.648 3,041 35,841 7,022 7,984 12.262 3,987 7,356 98,759 7,022 7.984 94,570 134,257 126.578 96,855 66,150 Deferred income Included in accruals and deferred income above is the following deferred income: 2024 Deferred income brought forward Recognised in the year Released in the year 75,997 76,349 175,9971 Deferred income carried forward 76,349 Deferred income relates mainly to nursery funding received within the trading company. 21
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 14 STATEMENT OF FUNDS Balance 31 March 2023 Balance 31 Marth 2024 Incoming resources Resources expended Transfers General reserves 470.833 755.581 1733,2141 493,200 Restrfrted funds 2 yr old Capacity Grant Early Years Pupil PremiLJrn Early Years Disability Access Pupil Premium PEP Sen Inclusion Funding Willenhall FTr)d Hub Coventry City Council Recovery & Support HAF Programme Think Active CSW Together ThinkArtive CSW Women & Girls Grant Coventry General Charities Education and Skills funding 19,616 12,340 1,600 17,8471 124,9211 13,7751 13001 15001 139,1281 13201 12,5331 12,0001 14011 11,9201 11,0001 11,769 12,581 2,175 300 500 42.502 11,748 641 15,122 321 2,533 2,000 3,949 1,920 1.000 3,548 Total restrlcted funds 47,945 67,460 184,6451 30,760 Trtal fvnds 518,778 823,041 817,8591 523,960 ?2
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 14 STATEMENT OF FUNDS (Continued) Balance 31 March 2022 Batsnce 31 March 2023 Incomlng resources Resources expended Transters General reseThes 451,767 702,651 1683,583} {21 470.833 Restrirted funds 2 yr old Capacity Grant Early Years Pupil Premium Early Years Disability Access Pupil Premium PEP High Needs Top Up Sen Inclusion Funding Willenhall Food Hub National Lottery Coventry City Council Recovery & Support Coventry UK City of Culture Trust Think Active CSW Together Fund Persimmon Homes Communty Champions The Soil Association Education and skills funding 27,462 16,119 4,666 2C 1,396 17,8461 116.1191 14.6661 12001 11,3961 116,1101 126,6481 Iio,O(KJl 12,5841 15001 19,616 12,340 1.600 12.340 1,600 16,110 25,562 iO,QKJO 3,225 5CN) 2,000 12.834 11,748 641 2,000 7(KJ 150 {7001 11521 {4.5001 4,500 Total restricted funds 63.527 75,837 191.4211 47,945 Totsl ndS 51S,294 778,488 1775,0041 518,778 Restricted funds are held for the following purposes.. 2 yr old Capacity Grant Funding received from Coventry City Council for capital costs at both childcare settings for an increase in the number of two-year old children and promotion of the early learning for two-year olds, funding to eligible families. Early Years Pupll Premlum Additional funding for early years settings to improve the education they provide for disadvantaged 3 and 4 year olds. Early Years Disability Access From April 2017 the Disability Access Fund IDAFI is new funding for early years provider5 to support children with disabilities or special educational needs. Pupll Premlum PEP Extra fundin8 provided by the Government to help narrow the attainment gap between looked after children and other children. Receipt of the Pupil Premium is dependent on submission of a high-quality Personal Education Plan IPEPI 23
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 14 STATEMENT OF FUNDS Icontinuedl High NeedsTop Up Funding for provision identified in the education, health and care plan for children with special education needs who need more support than is available through special education needs support. SEN Inclusion Funding Special Education Needs Inclusion Fund ISENIFI funding is government funding to help providers deliver early intervention for children presenting with emerging or complex needs. Willenhall Food Hub Supporting people from Willen hall and Binley in financial hardship and food povertv. Funding has been received frorn Feeding Coventry, Coventry City Council Household Support Fund and a Tesco Community Grant. Coventry City Council Recovery & Support Grants received from the Community Support and Recovery Grant Scheme of £1,525 on behalf of the craft group and £1,700 on behalf of the Bowling and Talking group. both based in the Hagord Community Space. HAF Programme Grant fullding through Coventry City Council to deliver the DFE'S Holiday Activities and Food Programme in Coventry for children in receipt of benefits-related free school meals. Summer Fun 2023 was based at the Hagard Community Space in July alld August 2023. Thlnk Artive CSW Together Fund and Think Attive CSW Women & Girls Grant Grants received for community yO8a classes at the Hagard Community Space. Perslmmon Community Champions An award from Persimmon's Community Champions scheme to help local community groups based in the Hagard Community Space. Coventry General Charities A grant received the purchase of a new cooker for the cafe in the Hagard Community Space. Education and Ski115 funding Apprenticeship funding received for apprentices employed in Eureka nursery. 24
WILLENHALL COMMUNITY FORUM LIMITED NOTES TO FINANCIAL STATEMENTS (continued) 31 March 2024 L5 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Tanglble fixed assets Net Current Assets Tanglble fixed assets Net Current Assets Total Total 2024 2024 2024 2023 2023 2023 Restrirted funds 2 yr old capacity grant Early Years Pupil Premium Early Years Di58bility Access Willenhall Food Hub Coventry City Council Recovery & Support Think tive CSW Together Fund ThinkAttive CSW Wornen & Gir15 Grant 11,769 11,769 19,616 19,616 12,340 1,600 11,748 12,340 1,600 11,748 15,122 15,122 321 321 641 641 2,000 2,000 3,548 3.548 11,769 18,991 30,760 19,616 28,329 47,945 Unre5trirted funds 30,316 462,884 493,200 18,314 452,519 470,833 42,085 481,875 523,960 37,930 480,848 518,778 16 COMMITMENTS UNDER OPERATING LEASES At 31 March 2024, the group h85 Outstanding commitments for future minimum lease payments under non- cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years After more than five years 9,487 15,941 7.184 7,890 25,428 15,074 17 RELATED PARTY TRANSACTIONS During the period l April 2023 to 3 Ortober 2023 Willenhall Community Forum Trading Limited rented premises at an arm's length basis from Willenhall Association Trust at a cost of £6,86112023'. £14,655). R M McAuley was a Trustee of both Willenhall Community Forum Limited and Willenhall Association Trust during this period. 25