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← Project Challenge

2024-07-31-accounts

Charity registration number 1060934 (England and Wales)

Company registration number 03264709

PROJECT CHALLENGE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

PROJECT CHALLENGE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Trustees N Earnshaw
C Eves
RA Harvey OBE
RW Masterson
A Naylor
Secretary LM Butterick
Seniormanagement LM Butterick - Project Manager
Charity number (England and Wales) 1060934
Company number 03264709
Registered office Orangebox
Blackledge
Halifax
West Yorkshire
HX1 1AF
Independent examiner V J Atkinson
BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
Hx1 2BW
Bankers Yorkshire Bank PLC
7 Waterhouse Street
West Yorkshire
HX1 1LU
Solicitors WilkinsonWoodward
Halifax
HX11LU

ee

PROJECT CHALLENGE

CONTENTS

Page
Trustees report 1-4
Statement oftrustees responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notestothefinancialstatements 10-18

a

PROJECT CHALLENGE TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 JULY 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of — . ireland (FRS 102) (effective 1 January 2019).

Objectives and activities

The Charity's objectives are:

To advance the education of disaffected young people in West Yorkshire between the ages of 16 and 19, who are unemployed, or lacking in qualifications, or at risk of persistent anti-social behaviour, or offending, by the provision of programmes of outdoor education other training and challenging activities to improve their personal and social skills.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Achievements and performance

Charitable activities

The project receives core funding for all the programmes from Calderdale College under a Study Programme subcontract. This ran from August 2023 to July 2024.

The project was successful in obtaining funding from Calderdale College to support young people with Higher Needs Additional Learning (EHCPs). The funding has enabled Project Challenge to continue providing key services and develop additional services for those most vulnerable young people.

The company employed from its funding, the following full and part time employees:

- Business Manager Full time
- Finance /Admin Full time
- Functional Skills Tutor - Maths Part time 0.8 - Term time
- Functional Skills Tutor - English Part time 0.8 - Term time
- N'Gage Vocational Tutor Full time
- ACTIV8 Vocational Tutor Full time
- Ignite Vocational Tutor Full time -Term time
- NGage Student Liaison Full time -Term time
- Activ8 Student Liaison Part time - Term time
- Ignite Student Liaison Parttime -Term time
- School Liaison Part time —Term time
EHCP Support Part time 0.6
EHCP Support Part time~Term time
- CafeSupervisor Parttime0.8

in addition the company commissioned one freelance worker to oversee Quality Assurance and external verification. in 2023/24 this was extended due to additional educational demand for under 16's excluded from schools and in need of bespoke 1:1 tuition.

-1-

PROJECT CHALLENGE TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Financial review

Financial position

The charity has received income of £626,255 (2023: £609,977) and incurred expenditure of £595,230 (2023: £523,143) in the year, leaving a surplus for the year of £31,025 (2023: £86,834).

The changes made in 2023/24 were significant and had an impact. They were as follows;

Going forward into 2024/25 the following changes have been made;

Principal funding sources

Calderdale College Core Funding Funding bands remained static and this continues to prove to be an issue for Project Challenge. With an unpredictable client group it is difficult to manage both success factors and whether they will remain on full time programmes once enrolled to draw down maximum funding rates. The College funding was exhausted by May 2023. The contract must be continually reconciled throughout the year due to discrepancies which may arise as some learners transfer between College and Project Challenge. The programme had a 98% success rate.

Project Challenge remains the sole provider of roll on/off Study Programme in Calderdale. The client group are the most vulnerable young people furthest away from the employment market, this combined with post-pandemic challenges has meant there is greater need for our services as numbers of permanently excluded within Calderdale continues to rise.

The Project was successful in securing £38,000 from the Community Foundation to run a Healthy Holidays programme throughout the year for each of the school holidays. This included provision at Orange Box for 13-19 year olds, participating in games, healthy eating and craft activities. Another element was to partner with the Local Authority's Play Services and included employing Project Challenge learners to have a paid work experience producing healthy meals for targeted young people, from deprived postcodes across the Borough, in receipt of Free School Meals.

Orange Box Being housed at Orange Box has enabled further partnerships with other services within the building, regarding opportunities for learners with the Healthy Holidays funding and the Household Support Fund.

-2-

PROJECT CHALLENGE

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Reserves policy

The charity aims to maintain a sufficient level of reserves to ensure that uninterrupted services may continue in the event of short term funding problems, funding being withdrawn, redundancy payments and settlement of creditors. The charity has a policy to retain reserves equivalent to 6 months running costs, which is £347,628 based on the future estimated costs for the 24/25 financial year. The rationale being that in the event of delays or cuts to funding the charity can continue to provide its services.

The charity has established a designated fund as provision for its redundancy liabilities, as at 31 July 2024 this was calculated as £60,000.

The trustees set out below their calculation of ‘free’ reserves based on these calculations, after taking account of reserves held for replacement of fixed assets (£5,000) and lease commitments (£1,507), there are no surplus ‘free’ reserves at 31 July 2024.

The trustees have taken a prudent approach in setting their reserves policy for the year and will continue to monitor the policy into the next financial year in order to move towards a surplus ‘free’ reserves position. With the intention of establishing asset renewal designated funds for 1T and opportunity and innovation funds for the delivery and development of activities.

31.7.24

£

Total Funds at 31/7/24 Funds at 31/7/24 414,135
Less : Designated Redundancy Fund (60,000)
Total Unrestricted General Funds 354,135
Less : Replacement offixed assets (5,000)
Less : Lease Commitments (Note 14) (1,507)
Less : 6 Months Operating Costs (347,628)
‘Free’ Reservesat31/7/24 £0

Plans for future periods

Project Challenge continues to build a reputation for being an AP - Alternative Provision provider for young people with ‘high needs' and for a cohort of statutory school age (under 16's) to prevent becoming permanently excluded. Current under 16 AP in Calderdale seriously lacks the capacity to accommodate some particularly challenging young people both with and without an Education Health Care Plan.

2023/24 we had 14 referrals from schools looking for alternative provision on a mixture of full, part time and 1-2-1 courses.

Post 16 in receipt of an EHCP will be capped at 10 from within Calderdale College. This remains an issue as we are often consulted for more than 10 places and could accommodate these.

-3-

PROJECT CHALLENGE

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Structure, governance and management

The charity is a limited company, limited by guarantee, and as such is controlled by its Memorandum and Articles of Association.

Organisation

The Articles of Association state that, at every Annual Meeting, one third of the Trustees who are subject to retirement shall retire. Following the Companies Act 2006 the Trustees who retire by rotations are those serving the longest. For those who were appointed on the same day those who retire shall (unless otherwise agreed amongst themselves be determined by majority votes, the Chair will have the casting vote.

The Trustees meet quarterly with the Business Manager informing of major changes/issues by a newsbites email.

Trustees have areas of responsibility and can meet to deal with emerging issues for their area, making decisions that do not need a vote.

Induction and training of new trustees

All Trustees receive induction on their appointment to the Board and receive appropriate training during their term of office. They are all in receipt of an enhanced DBS check.

Related parties

The Secretary is also the Business Manager of the Project. None of the other Trustees have a beneficial interest in the Company.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P Dawber

(Resigned 11 February 2025)

N Earnshaw

C Eves

R A Harvey OBE R W Masterson

A Naylor C G Ratcliffe (Resigned 15 November 2023) P J Wilson CBE (Resigned 18 March 2025)

The trustees report was approved by the Board of Trustees.

Allan Naylor

A Naylor Trustee

Date! ooo24/03/2025eet

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PROJECT CHALLENGE

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2024

The trustees, who are also the directors of Project Challenge for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial staternents for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

~ select suitable accounting policies and then apply them consistently;

-~ make judgements and estimates that are reasonable and prudent; and

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 24/03/8085

and signed on its behalf by:

Allan Naylor

Allan Naylor- Trustee

-5-

PROJECT CHALLENGE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PROJECT CHALLENGE

| report to the trustees on my examination of the financial statements of Project Challenge (the charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. You are satisfied that the financial statements of the charity are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, | report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination | have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011 and section 65 of the Charities Act (Northern Ireland) 2008. | confirm that | am qualified to undertake the examination because | am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

VBKJ PlusAtkinson Limited Z iC P lus Lim 1ecf 52 St Johns Lane , Halifax West Yorkshire

ee

-6-

PROJECT CHALLENGE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income and endowments from:
Donations and legacies 3 64,742 57,976
Charitable activities 4 545,070 545,890
Investments 5 12,635 6,111
Sundry Income 6 3,808 -
Total income 626,255 609,977
Expenditure on:
Charitable activities 7 595,230 523,143
Total expenditure 595,230 523,143
Net income and movement in funds 31,025 86,834
Reconciliation of funds:
Fund balances at 1 August 2023 383,110 296,276
Fundbalancesat31July2024 414,135 383,110

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ee

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PROJECT CHALLENGE

BALANCE SHEET

AS AT 31 JULY 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 12 1,125 5,865
Current assets
Debtors 13 82,819 92,840
Cash at bank and in hand 356,866 294 437
439,685 387,277
Creditors: amounts falling due within 14
one year (26,675) (10,032)
Net current assets 413,010 377,245
Total assets less current liabilities 414,135 383,110
The funds ofthe charity
Unrestricted funds 16 414,135 383,110
414,135 383,110

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation offinancial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

A4/03/402.5

The financial statements were approved by the trustees on oo... ee

Allan Nawslor

A Naylor Trustee

Company registration number 03264709 (England and Wales)

-8-

PROJECT CHALLENGE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2024

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|20|49,794|40,169| |Investing|activities| |Investment|income|received|12,635|6,111| |a|a| |Net|cash|generated|from|investing|activities|12,635|6,111| |Net|cash|generated|from|financing|activities|-|-| |Net increase|in cash and cash equivalents|“62,429|“46,280| |Cash|and|cash|equivalents|at|beginning|of year|294,437|248,157| |Cash and cash equivalents at end of year|356,868|294,437|

----- End of picture text -----

-9-

PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Charity information

Project Challenge is a private company limited by guarantee incorporated in England and Wales. The registered office is Orangebox, Blackledge, Halifax, West Yorkshire, HX1 1AF.

1.1. Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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PROJECT CHALLENGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

----- Start of picture text -----
Fixtures and fittings 20% on cost
Computers 33% on cost
Motor vehicles 25% on reducing balance
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

«

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PROJECT CHALLENGE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

----- Start of picture text -----
(Continued)
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Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates 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 factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 13,398 -
Grants 51,344 57,976
64,742 57,976
Grants
Community Foundation for Calderdale 47,744 56,976
Leeds Community Foundation 3,600 1,000
51,344 57,976
Income fromincome from Income fromincome from
Charitable Charitable
activities activities
2024 2023
£ £
Income from Charitable Activities 545,070 545,890
Analysis byfund
Unrestricted funds 545,070 545,890
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interestreceivable 12,635 6,111

ee

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PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

6 Sundry Income

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2024|2023| |£|£| |Other|income|3,808|-| |Expenditure|on|charitable|activities| |Charitable|Charitable| |Expenditure|Expenditure| |2024|2023| |£|£| |Direct|costs| |Staff|costs|437|,334|374,538| |Depreciation|and|impairment|4,738|6,757| |Project Activities|76,625|74,565| |Premises|Costs|39,123|24,706| |Staff|Expenses|10,432|4,145| |Office|Expenses|19,719|25,671| |Administration|Cost|7,259|12,761| |595,230|523,143| |Analysis|by|fund| |Unrestricted|funds|595,230|523,143| |Net|movement|in|funds|2024|2023| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for|the|independent|examination|of the|charity's|financial| |statements|2,161|2,058| |Depreciation|of owned|tangible|fixed|assets|4,738|6,757|

----- End of picture text -----

7 Expenditure on charitable activities

8

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

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PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employeesemployees during the year was:was:
2024 2023
Number Number
Charitable activities 14 14
Employment costs 2024 2023 —
£ £
Wages and salaries 404,294 334,835
Other pension costs 33,040 39,703
437,334 374,538
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024 2023
£ £
Aggregatecompensation 46,866 73,191

11. Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |12|Tangible|fixed|assets| |Fixtures|and|Computers|Motor|Total| |fittings|vehicles| |£|£|£|£| |Cost| |At|1|August 2023|2,856|58,280|27,605|88,741| |At|31|July|2024|2,856|58,280|27,605|88,741| |Depreciation|and|impairment| |At|1|August|2023|2,266|54,003|26,609|82,878| |Depreciation|charged|in|the|year|295|4,194|249|4,738| |At|31|July|2024|2,061|58,197|26,858|87,616| |Carrying|amount| |At|31|July|2024|295|83|747|1,125| |At|31|July 2023|590|4,278|997|5,865| |13.|Debtors| |2024|2023| |Amounts|falling|due|within|one|year:|£|£| |Prepayments|and|accrued|income|82,819|92,840| |14|Creditors:|amounts|falling|due|within|one|year| |2024|2023| |£|£| |Other|taxation|and|social|security|7,092|6,178| |Other|creditors|4,034|1,792| |Accruals|and|deferred|income|15,549|2,062| |26,675|10,032| |15|Retirement|benefit|schemes| |2024|2023| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|33,040|39,703|

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The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

-16-

PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources Transfers At 31 July
2023 resources expended 2024
£ £ £ £ £
General Fund 336,574 626,255 (595,230) (13,464) 354,135
Designated Fund- Redundancy 46 536 - - 13,464 60,000
383,110 626,255 (595,230) - 414,135
Previous year: At 1 August Incoming Resources Transfers At 31 July
2022 resources expended 2023
£ £ £ £ £
General Fund 257,163 609,977 (523,143) (7,423) 336,574
Designated Fund- Redundancy 39,113 - - f 423 46,536
296,276 609,977 (523,143) - 383,110

17 Analysis of net assets between funds

Unrestricted
funds
2024
£
At 31 July 2024:
Tangible assets 1,125
Current assets/(liabilities) 413,010
414,135
Unrestricted
funds
2023
£
At 31 July 2023:
Tangible assets 5,865
Current assets/(liabilities) 377,245
383,110

-17-

PROJECT CHALLENGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

18 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Within one year 4,507 25,686
In over five years - 1,507
4,507 27,193

19 Related party transactions

There was related party transaction with Plus Public Affairs Limited to the sum of £25,644.50 for monthiy Quality manager service.

20 Cash generated from operations 2024 2023
£ £
Surplus forthe year 31,027 86,834
Adjustments for:
Investment income recognised in statement offinancial activities (12,635) (6,111)
Depreciation and impairment oftangible fixed assets 4,738 6,757
Movements in working capital:
Decrease/(increase) in debtors 10,021 (43,662)
Increase/(decrease) in creditors 16,643 (3,649)
Cashgeneratedfromoperations 49,794 40,169

21.~= “Analysis of changes in net funds

The charity had no material debt during the year.

-18-