## **REPORT OF THE DIRECTORS AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**FOR MEADOW WELL CONNECTED**
**MEADOW WELL CONNECTED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 12|
|**Independent Examiner's Report**|13|
|**Statement of Financial Activities**|14|
|**Balance Sheet**|15 to 16|
|**Cash Flow Statement**|17|
|**Notes to the Financial Statements**|18 to 32|
|**Detailed Statement of Financial Activities**|33 to 34|
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 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 31 March 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 organisation presents as a social enterprise, developing its own income streams whilst supporting residents' needs. A review of the purpose and strategic direction of the organisation was undertaken in 2021-22. Our updated 5 year Strategic Business Plan was published in 2021-22 which confirmed the following vision, mission, and values:
**Our Vision:** A thriving community that's a great place to live, work and play.
**Our Mission:** To work positively with local people to achieve our shared vision.
**Our Core Values:** The way we work is to build trusted relationships with others including staff, volunteers, local people and partners. We are...
## **Trustworthy**
We will continue to build trust amongst residents, clients, staff, volunteers, and stakeholders by being open, honest and leading by example.
## **Open**
Our services will be accessible to residents and we will remain open and accountable to our stakeholders.
## **Adaptable**
We are responsive to the needs of the local community and will adapt our delivery to reflect change.
## **Creative**
We will continue to find creative solutions to problems and build creativity into our approach as this encourages the engagement of our community.
## **Our Strategic Aims**
1. Community Involvement - to develop a sense of ownership of Meadow Well Connected amongst residents through creative engagement, e.g., events, outreach work, community-led activities.
2. Skills Development - to provide inspiration and support for local people who wish to develop new skills and new ways of enriching their lives.
3. Wellbeing - to strengthen and support the physical, mental, and social resilience of residents.
## **What we do**
Meadow Well Connected is the Community and Resource Centre at the hub of the community in one of the most deprived wards in North Tyneside, namely Chirton and Percy Main.
We work with the local community to identify the most significant needs and develop programmes of support with them to enable them to flourish and become more independent, both economically and socially.
Page 1
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **OBJECTIVES AND ACTIVITIES - continued**
Current programmes are in four key areas: Community Involvement, Skills Development, Well-being, and Organisational Development. They include environmental & horticultural skills development through volunteering in our extensive gardens which provide an oasis of green space within the community ; debt and money management support; alcohol reduction programmes and employability skills and support; health & wellbeing initiatives to improve the mental & physical health of local people; affordable after-school provision to support children aged 5-13 and help their parents manage work commitments; a number of community-led workshops and activities; horticulture, forest school, beekeeping, joinery, music and enrichment programmes to support adults with additional needs and young people who have disengaged from school to develop skills to give them greater independence.
Community Involvement: this is central to our service delivery and links to our mission of working positively with local people to achieve our shared vision. We seek to involve local people in our service development and take their opinions into account when shaping the service we provide. We undertake continuous contact with local people through focus groups, door-knocking, and surveys. In November 2021 we commissioned an independent community consultation which received over 200 responses from local households. The report demonstrated a large increase in awareness of Meadow Well Connected since our previous community consultation which was undertaken in 2018 and highlighted the priorities for local people around:
- More things for children and young people to do
- Better access to green spaces and environmental concerns
- Improved marketing of our services
We have developed responses to these findings which were implemented in 2022-23 and 23-24.
Skills Development: all aspects of our charitable provision and social enterprise work is shaped to ensure skills development is central to our delivery model. Staff, clients, and volunteers agree personal goals for skills development and this links with our vision of a thriving community. Our Relational Mentoring Service supports people to address issues and learn skills that move them closer to the labour market.
Wellbeing: we work to create a safe, welcoming space where individual differences are recognised and valued. We have a unique mix of clients, staff and volunteers working shoulder-to-shoulder to create a supportive and varied environment where people can gain self-confidence and build self-reliance.
Organisational Development: we recognise the challenging environment in which we operate and seek to work in a creative and forward-looking way to maximise the assets of the organisation through developing sustainable business offers. We currently operate local authority contracts; room hire and training as income generating activities to support the core costs of the organisation. We are working to develop strong links to business and have made several successful links including Capita, Sage, TLW Solicitors, Axminster Tools, and Utilita Energy.
During 2023-24 we continued to work collaboratively with VODA and the Yes We Can Community C.I.C. to deliver a collaborative leadership programme which is funded by North Tyneside Council and is called Leaders Together. The programme ran from February 2022 until June 2023 and created a shared culture of collaborative leadership in North Tyneside.
The programme has helped us deepen existing relationships and build new trusted relationships to provide a firm footing for the future for further collaboration.
Page 2
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **OBJECTIVES AND ACTIVITIES - continued**
During 2023- 24 we became members of North Tyneside Mental Health Alliance which resulted in us working closer with other Voluntary Sector Organisations across North Tyneside, sharing training, expertise and resources. We have forged links with Richmond Fellowship enabling us to use their premises for clients we are not able to meet within Meadow Well Connected. We have accessed training on Mental Health First Aid, Autism among other courses and have submitted joint funding bids with other Alliance members.
Marketing and Promotion during 2023-24 we undertook a rebranding exercise as we approached our 30th anniversary year. We rebranded the centre as The Meadows which was the name preferred during the consultation - being the original name by which the centre was known and one which is still referred to and preferred by much of the community It is apt that the rebrand takes us back to our community roots, Along with this we developed a new website and refreshed our presence across Social Media Platforms. This has resulted in the improved marketing of our services that the community expressed a desire to see in the Community Consultation carried out in 2021.
## **Public benefit**
In reviewing our strategic objectives and planning our activities for the year, the trustees have considered the Charity Commission's guidance on public benefit. The trustees are satisfied that the strategic objectives are in line with the charity's objects as set out in the governing document.
Page 3
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **ACHIEVEMENT AND PERFORMANCE**
## **Our Projects & Services**
Better Together this programme, funded by The National Lottery Community Fund, Better Together Project began in August 2023. This is a partnership project between Meadow Well Connected and Phoenix Detached Youth Project. The project itself has many strands:
Volunteer Coordinator - MWC employ a Community Development Worker part of whose role is that of Volunteer Coordinator, recruiting, training and supporting volunteers in numerous roles across the organisation.
Crisis support - The Community Development Worker also delivers a crisis service to those over the age of 25 in food and fuel poverty. They Community Development Worker provides immediate support to top up utility payment cards, refers to food banks or social supermarkets and where necessary will provide food support to the person. They can also offer support to those in digital poverty through the provision of a 6 month sim card with free data, calls and texts. The person in need is then offered support around income maximisation and debt reduction and will refer the person on to other relevant services both within the centre and with other organisations.
Relational Mentoring - We are delivery partners of the Relational Mentoring Service run by the Wise Group and funded by the North East Local Authority. The service provides one to one and group support to people furthest away from the labour market. Their aim is to support them to identify and address issues in their lives that may impact on them becoming employed, moving closer to being able to find employment, education or training.
## Kids Club & Mini Kids
We have been offering an affordable after-school club for children aged 8-13 for over 10 years. The Wellsley Trust supported the delivery of the after school provision for most of 2023/24, Children in need began funding the project in February 2024 and funding from the Holiday Activities Fund enabled us to provide summer holiday provision for children aged 5-13.
Mini Kids after school provision and holiday provision has been supported by The Community Foundation.
During the year we have provided over 1937 combined hours of activities to 157 individual children in Connected
Kids Club and 5,004 hours to 73 individual children to Mini Kids Club.
## Positive Pathways
Our Positive Pathways group meets twice a week led by group members and kindly supported by TLW Solicitors who provide support for refreshments, trips, and activities. The group provides a friendly space where people can meet, make friends, and reduce social isolation. During the year 52 individuals attended over 1,138 times, equivalent to 3,386 hours of time spent together.
PAUSE Alcohol Reduction Service funded through the Integrated Care Board this service provides an essential service for people with problematic alcohol use. Our Specialist Alcohol Worker supports people to reduce and often abstain from using alcohol. They help them develop positive coping strategies and refers people on to other services both within Meadow Well Connected and externally to ensure all of their support needs are met.
PAUSE supported 99 individuals during 23/24.
Page 4
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **ACHIEVEMENT AND PERFORMANCE (continued)**
## Digital Support
We offer access to our IT Suite so residents can manage their online life including their Universal Jobsmatch Account and other job-seeking activities. We support people to gain digital skills and create an action plan to make small steps towards improving their circumstances.
We have supported people to access digital equipment such as tablets and SIM cards to increase their connectivity with family, friends, and other online opportunities.
## Community Development
During 2023-24, we delivered 67 community and volunteer events as well as a range of regular groups.
2,743 individuals enjoyed one or more of our community activities and groups.
## **Ensuring our work delivers impact and outcomes** .
We undertake robust monitoring and evaluation of all we deliver. This includes engaging directly with a wide variety of stakeholders to understand their needs and what impact they require through our delivery. We complete this at the outset to determine outcomes and measures and thereafter undertake regular reviews to enable improvements or adjustments to our activities. Wherever possible we commission independent consultants to evaluate at the end of projects. Those directly benefitting provide regular feedback through several mechanisms including video/audio diary. We operate an online impact management system - Evide - to collate and analyse client data.
## **Our Environmental Impact & Carbon Reduction Plan**
In October 2023 we were successful in achieving Silver Investors in the Environment, above the Bronze award we initially applied for.
Page 5
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **FINANCIAL REVIEW**
The year was a particularly challenging one for us financially for a number of reasons. The aftermath of the pandemic saw many of our long-term tenants leave and the offer of substantively discounted space nearby by the local authority took others and reduced our opportunity to backfill with new tenants. As reported by most other charities, grants on offer, particularly unrestricted to cover core costs, were substantively reduced and paid out on a much lower rate. In addition, whilst we did reduce expenditure, most regrettably the centre became victim this year to repeated acts of vandalism necessitating costly repeated repairs.
At the end of the 2023/24 financial year we saw a reduction in income amounting to (£185.7k) with a decrease in expenditure (£9.2K) from the previous financial year.
The Trustees took the decision early in the year due to the high value of reserves held to commit reserves to balance the trading loss and to allow the centre to continue to operate in support of the community for the entire year and a proportion of the following year, This would allow time for our new Chief Officer to make necessary actions. The year end deficit was greater than initially due to the difficulty in reporting within our new financial information system.
At year end, this resulted in a deficit of £209.7k (2022/23 - £6.7K), after transfers on the general unrestricted fund. Reserves amounted to £483.1k (2022/23 - £655.9k) of which £174.7k (2022/23 - £137.8k) was subject to restriction and a further £210.5k (2022/23 - £210.5k) was designated by the trustees.
Included within unrestricted general funds is an amount of £46.3k (2022/23 - £54.0k) which is represented by illiquid assets; the free reserves of the charity (after allowing for restricted, designated and committed amounts) total £51.5k (2022/23 - £256.6k).
Based on these assessments and the current strong reserves position, the trustees have concluded they can continue to adopt the going concern basis in preparing the annual report and financial statements for the following 12 months.
## **Reserves policy**
Meadow Well Connected is currently dependent on grant income to sustain its activities, as earned income alone would not currently allow MWC to continue operating. This means that if there were to be a gap in grant income it is likely that MWC would have to close.
To avoid closure if funding difficulties were to happen the MWC Board has agreed to keep a certain level of financial reserves to ensure that main operations can continue for a period of 12 months.
- The main concerns of the Board are to ensure:
- That staff can continue working, primarily to secure new funding.
- - That service users are supported to move on to other appropriate services.
Page 6
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **FUTURE PLANS**
## **Improvement focus for 2024-25**
## **As we enter our 30th year it is a time of consolidation and renewal. Our plans are:**
- Our primary focus will be to secure improved financial stability and secure new sources of funding and income generation from our substantive assets of the community centre, garden and café
- To be more inclusive towards working members of the community by improving our opening ours in the evening and weekends and extending our range of service offers.
- To further enhance the garden offer to ensure we are optimising our most substantive asset.
- Form new partnerships for mutual benefit and joint bidding for funding.
- To promote the Meadows within the region and ensure our brand is recognised and valued.
- To further develop our plans for achieving net zero.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Meadow Well Connected is a company limited by guarantee governed by its Memorandum and Articles of Association as amended 25 March 2022.
## **Recruitment and appointment of new trustees**
As set out in the Articles of Association the chairperson of the trustees shall serve a two-year period and is entitled to be re-appointed by nomination. The vice chairperson and directors shall serve a two-year period and are entitled to be re-appointed by nomination.
Marjory Burdis served in the role of Chair in addition to her role as Finance Chair throughout the period. Katherine Forbes was appointed as Vice Chair in May 2022 and joined the Finance and Fundraising Committee. In May 2023 Norma Tullock joined the Board of Trustees.
Page 7
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT - continued**
## **Induction and training of new trustees**
All staff, volunteers and Trustees undergo an induction upon commencement at the Centre which includes:
- A health and safety and safeguarding induction.
- Understanding of our mission, objectives and aims along with our values and the ethos and culture that makes us who we are and what we do.
- A guided tour and brief induction in each provision.
- A DBS check.
- Completion of online adult and children safeguarding offered by NTSCB.
Separately each group then receive specific induction relevant to their role and are linked to specific project areas on a rotational basis to deepen their understanding of the work we do.
## **Induction and training of new staff and volunteers**
All staff engage in an initial probationary period where upon they are given support to enable their transition into the organisation and development in post. Thereafter, staff participate in annual performance reviews, which are supported by our monitoring and evaluation processes in terms of their particular provision. Any learning or development needs are assessed, and appropriate measures taken to support the individual's ongoing evolution within their role and the charity.
Volunteers are supported by staff to ensure they are gaining from their time volunteering, supported in accessing additional services and provisions and that their work has mutual benefit for the individual and the organisation. A new Volunteer Coordinator, who was appointed in March 2023 to further develop our volunteer offer to ensure volunteers are fully trained and vetted in relation to our safeguarding procedure. During 2023-24, we recruited 12 new volunteers and had support from 42 individuals across the organisation (excluding trustees).
In addition, we had 16 volunteers from Utilita, 9 from Capita who all worked in the garden for a full day. In addition, Capita supplied 10 volunteers at Christmas to prepare, cook, and tidy up 2 community Christmas meals.
## **Key management remuneration**
Salary and other benefits payable to key management personnel are benchmarked against comparable roles with other organisations in the voluntary sector.
## **Organisational structure**
The appointed Chief Officer leads the organisation, setting strategy and overseeing the growth and development of its services and offer to the community. She is supported by the Delivery & Development Manager, Office Manager and Facilities Coordinator to ensure all areas of the operational, project and financial management is effectively monitored and developed. The Board of Trustees meet eight times a year to oversee strategic priorities and ensure governance and adherence to the organisations mission, vision, and values.
In total there were 21 staff members (14.6FTE), with 1 directly funded through the Wise Group Project, and the remainder funded through a combination of project and core income. During 2023-24 we supported 2 of the people completing Kickstart placements on permanent contracts.
The organisation has developed to generate its own income and as such has two main functions: social enterprise activities and charitable activities.
Page 8
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT - continued**
## **Risk Management**
The trustees actively review the major risks that the charity faces on a regular basis and systems are in place to mitigate such risks. Internal risks are minimised by the implementation of procedures for authorisation of transactions and projects to ensure consistent quality of delivery for all operational aspects of the Charity.
The Safeguarding and Risk Management Committee established in 2022-23 continued to meet. The purpose of the Safeguarding and Risk Management Committee is to scrutinise, monitor and advise on matters relating to our policy for safeguarding vulnerable adults and children and to ensure our non-financial risk management is effective and up to date.
## **Resources Management**
We undertake strict monitoring of resources and regularly review contracts with suppliers to ensure we are achieving best value and utilising grant funding in the most efficient and effective way. We have however disappointingly had difficulties in obtaining timely information following the implementation of a new financial information system to replace SAGE which was proving very costly to us. The move to Xero unfortunately resulted in a lot of additional work for our officers. We are consequently working hard to ensure reporting within the system is improved in the following year to ensure that officers are aware of the latest financial picture to make sound decisions and trustees have the information shared with them when they require it in order to support effective governance.
In line with this approach, we do not produce a glossy annual report, rather more we focus on producing materials our local community have told us is via community consultation are of interest to them, this includes 4 newsletters per year.
## **Our partners, supporters, and funders**
Meadow Well Connected is enormously appreciative of the support it receives through all its partners, funders, supporters, volunteers, and users.
## **Partners**
Capita are our Strategic Partners, offering funding, support, advice, and volunteers.
TLW continue to provide financial support for our Positive Pathways group enabling them to undertake a range of activities both in the centre and as external trips.
The Bay Foodbank - we continue to support the food bank working to help local people. We are very grateful for the support they give to our Connected Kids Club, Positive Pathways group, Community Garden and Crisis Fund clients.
We continue to host a number of tenants including United Response and NT Recovery College and are exploring ways of working together for mutual benefit. KLX Dance Studio and 1st Meadow Well Scouts continue to base themselves in the centre.
North Tyneside Recovery College base their Recovery Café in the centre on a Friday morning.
Peer Talk base their mental health peer support group in the centre on a Wednesday.
Page 9
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT - continued**
We have continued to build a positive relationship with Phoenix Detached Youth Project (PDYP). Following on from the work of 2022-23 when we developed a pilot Street Play Project together. We successfully achieved National Lottery funding to enable the continuation of the Better Together initiative for a further 3 years.
## **Funders**
We would like to thank all our funders and supporters for the generosity they have shown us in 2023-24, including:
The National Lottery Community Fund Wise Group Dept of Education Holiday Activities Fund Ballinger Trust NHS ICB North East (formerly North Tyneside NHS CCG) North Tyneside Council Community Foundation TLW Solicitors Wellesley Trust Garfield Weston Karbon Homes Police and Crime Commissioners BBC Children in Need VODA Winter Warmer
Our supporters remain constant in their passion and belief in our organisation and what we do. Many act as ambassadors for the organisation and the people we serve, making connections and building networks with and through Meadow Well Connected.
Over the year we have had the benefit of the unyielding support of forty-six volunteers who provide much needed talent, skills and helping hands to enable us to focus on what really makes a difference. Our special thanks therefore go to those volunteers who dedicate so much time, effort, and passion to supporting who we are and what we do. We still benefitted from 2,752 hours of volunteer time.
We are very grateful to all our clients, volunteers, staff and supporters for their hard work, commitment, and adaptability during 2023-24.
Page 10
## **MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity name**
Meadow Well Connected
**Company Number** 03433217
**Charity Number** 1070839
## **Registered Office**
The Meadows, Waterville Road, North Shields, Tyne and Wear, NE29 6BA
## **Independent Examiner**
Read, Milburn & Company, 71 Howard Street, North Shields, Tyne and Wear, NE30 1AR
## **Bankers**
Unity Trust Bank PLC, Nine Brindley Place, Birmingham, B1 2HB
## **Current Trustees**
Ms M E Burdis - Chair Miss K L Forbes Ms W Hodgson Ms W King Ms A M T McCann Mr D C Slater Mr M Thompson Mrs N Tullock
## **Retiring Trustees**
Mrs C Calbraith (retired 23 May 2023) Ms T Malthus (retired 23 May 2023) Ms E A Robson (retired 25 October 2023)
## **Key Management Personnel**
Ms M Cresswell - Outgoing Chief Officer (resigned 14 July 2023) Ms K Ainsley - Chief Officer
Page 11
**MEADOW WELL CONNECTED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
Approved by order of the board of trustees on 17 December 2024 and signed on its behalf by:
Mrs M E Burdis, Chair - Trustee
Page 12
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MEADOW WELL CONNECTED**
## **Independent examiner's report to the trustees of Meadow Well Connected ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
## Nicholas Liley FCA
The Institute of Chartered Accountants in England and Wales
Read, Milburn & Co
18 December 2024
Page 13
## **MEADOW WELL CONNECTED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
20,261
**Charitable activities**
5
Skills Development
-
Community Involvement
-
Core Activities
50,720
Other trading activities
3
158,021
Investment income
4
2,381
Other income
32,896
**Total**
264,279
**EXPENDITURE ON**
Raising funds
6
-
**Charitable activities**
7
Skills Development
-
Community Involvement
128,922
Core Activities
339,164
**Total**
468,086
**NET INCOME/(EXPENDITURE)**
(203,807)
**Transfers between funds**
19
(5,898)
**Net movement in funds**
(209,705)
**RECONCILIATION OF FUNDS**
Total funds brought forward
518,104
**TOTAL FUNDS CARRIED FORWARD**
308,399|Restricted
funds
£
774
22,633
146,602
-
-
-
11,634
181,643
-
19,599
116,534
14,458
150,591
31,052
5,898
36,950
137,800
174,750|2024
Total
funds
£
21,035
22,633
146,602
50,720
158,021
2,381
44,530
445,922
-
19,599
245,456
353,622
618,677
(172,755)
-
(172,755)
655,904
483,149|2023
Total
funds
£
15,954
56,505
260,466
97,520
155,922
238
45,016
631,621
1,592
74,981
267,576
283,729
627,878
3,743
-
3,743
652,161
655,904|
|---|---|---|---|
The notes form part of these financial statements
Page 14
## **MEADOW WELL CONNECTED (REGISTERED NUMBER: 03433217)**
## **BALANCE SHEET 31 MARCH 2024**
|Notes
**FIXED ASSETS**
Tangible assets
14
**CURRENT ASSETS**
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds:
General fund
Designated funds
Restricted funds
**TOTAL FUNDS**|2024
£
136,479
52,312
352,812
405,124
(58,454)
346,670
483,149
483,149
97,899
210,500
308,399
174,750
483,149|2023
£
158,604
16,155
532,321
548,476
(51,176)
497,300
655,904
655,904
307,604
210,500
518,104
137,800
655,904|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 15
continued...
## **MEADOW WELL CONNECTED (REGISTERED NUMBER: 03433217)**
## **BALANCE SHEET - continued 31 MARCH 2024**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 December 2024 and were signed on its behalf by:
Mrs M E Burdis, Chair - Trustee
The notes form part of these financial statements
Page 16
## **MEADOW WELL CONNECTED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
21
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2024
£
(181,890)
(181,890)
-
2,381
2,381
(179,509)
532,321
352,812|2023
£
(62,232)
(62,232)
(7,278)
238
(7,040)
(69,272)
601,593
532,321|
|---|---|---|
The notes form part of these financial statements
Page 17
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling (£).
## **Going Concern**
The financial statements are prepared on the going concern basis. In the opinion of trustees, no material uncertainties exist about the charity's ability to continue.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Support costs**
Support costs are those costs not directly related to undertaking charitable activities. Where support costs cannot be directly attributed to particular activities, they have been apportioned on a basis consistent with use of the resources in question.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property Plant and machinery - 25% on reducing balance Renewable technologies - in accordance with the property
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 18
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Debtors**
Trade and other debtors (including prepayments) are recognised at the settlement amount due or amount prepaid).
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount..
## **Financial instruments**
All financial assets and financial liabilities of the charity qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||2024|2023|
||£|£|
|Donations|21,035|15,954|
continued...
Page 19
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**3.**
**OTHER TRADING ACTIVITIES**
Rent & hiring charges
Training income
Practically Connected income
Café sales
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Skills
Community
Development Involvement
£
£
Grants
22,633
146,602
Grants received, included in the above, are as follows:
Building Better Opportunities: Wise Steps
NHS England
National Lottery Community Fund
Ballinger Foundation
Virgin Money
Henry Smith Charity
NTC Holiday Activities and Food
North of Tyne Community Centres
Postcode Neighbourhood Trust
Prime at the Community Foundation
NLCF - Jubilee Art Trail
Wellesley Trust at the Commmunity Foundation
Other grants
Community Foundation
Garfield Weston Foundation
Ann Cleeve Literacy
Crowd Funding
Coca Cola Fund
The Hospital of God Greatham
NHS NE & North Cumbria ICB
Carried forward|Core
Activities
£
50,720|2024
£
49,938
5,669
58,697
43,717
158,021
2024
£
2,381
2024
Total
activities
£
219,955
2024
£
-
-
36,703
20,000
-
-
-
-
-
-
-
-
-
25,903
10,000
750
5,331
1,000
1,000
54,324
155,011|2023
£
43,508
4,724
71,378
36,312
155,922
2023
£
238
2023
Total
activities
£
414,491
2023
£
51,775
95,992
-
-
18,000
25,000
25,929
39,438
23,850
12,639
36,096
10,000
75,772
-
-
-
-
-
-
-
414,491|
|---|---|---|---|
continued...
Page 20
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**5.**
**INCOME FROM CHARITABLE ACTIVITIES - continued**
Brought forward
North Tyneside Council
North Tyneside Voluntary Organisations Development Agency
Port of Tyne
Children in Need
Voluntary Organisations' Network North East
TLW Solicitors
Northumbria Police and Crime Commissioners
Wise Group
**6.**
**RAISING FUNDS**
**Other trading activities**
Bad debts
**7.**
**CHARITABLE ACTIVITIES COSTS**|2024
£
155,011
27,140
3,000
2,800
1,250
3,000
5,000
4,730
18,024
219,955
2024
£
-|2023
£
414,491
-
-
-
-
-
-
-
-
414,491
2023
£
1,592|
|---|---|---|
||||
|Skills Development
Community Involvement
Core Activities|Direct
Costs (see
note 8)
£
19,427
241,053
172,014
432,494|Support
costs (see
note 9)
£
172
4,403
181,608
186,183|Totals
£
19,599
245,456
353,622
618,677|
|---|---|---|---|
continued...
Page 21
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**8.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Project expenses
Volunteer and staff expenses
Catering and activity costs
Sessional workers costs
**9.**
**SUPPORT COSTS**
Skills Development
Community Involvement
Core Activities|2024
£
327,393
62,287
1,885
37,131
3,798
432,494|2023
£
363,056
51,594
108
29,951
-
444,709
Managem't
and admin
costs
£
172
4,403
181,608
186,183|
|---|---|---|
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Depreciation - owned assets
Payments under operating leases
Independent Examiner's remuneration including irrecoverable VAT
Other fees paid to the Examiner including irrecoverable VAT|2024
£
22,125
1,483
2,310
-|2023
£
22,503
1,755
2,118
420|
|---|---|---|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 22
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **12. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2024
£
335,066
23,422
8,724
367,212|2023
£
383,694
22,746
9,651
416,091|
|---|---|---|
The key management personnel, including the trustees, are listed under Reference and Administrative Details. The total employee benefits of the key management personnel were £39,819 (2023 - £53,035).
The average monthly number of employees during the year was as follows:
|Engaged in charitable activities
No employees received emoluments in excess of £60,000.|2024
21|2023
22|
|---|---|---|
||||
|**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
15,502
452
**Charitable activities**
Skills Development
-
56,505
Community Involvement
-
260,466
Core Activities
75,739
21,781
Other trading activities
155,922
-
Investment income
238
-
Other income
20,099
24,917
**Total**
267,500
364,121
**EXPENDITURE ON**
Raising funds
1,592
-
**Charitable activities**
Skills Development
1,382
73,599
Community Involvement
583
266,993
Core Activities
244,621
39,108|Total
funds
£
15,954
56,505
260,466
97,520
155,922
238
45,016
631,621
1,592
74,981
267,576
283,729|
|---|---|
continued...
Page 23
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**13.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|
|---|---|---|---|---|---|
||||Unrestricted|
Restricted|Total|
||||funds|funds|funds|
||||£|£|£|
||**Total**||248,178|379,700|627,878|
||**NET INCOME/(EXPENDITURE)**||19,322|(15,579)|3,743|
||**Transfers between funds**||(12,587)|12,587|-|
||**Net movement in funds**||6,735|(2,992)|3,743|
||**RECONCILIATION OF FUNDS**|||||
||Total funds brought forward||511,369|140,792|652,161|
||**TOTAL FUNDS CARRIED**|||||
||**FORWARD**||518,104|137,800|655,904|
|**14.**|**TANGIBLE FIXED ASSETS**|||||
|||Improvements||||
|||to|Plant and|Renewable||
|||property|machinery|technologies|Totals|
|||£|£|£|£|
||**COST**|||||
||At 1 April 2023 and 31 March 2024|191,974|37,917|19,731|249,622|
||**DEPRECIATION**|||||
||At 1 April 2023|46,873|33,387|10,758|91,018|
||Charge for year|19,197|1,135|1,793|22,125|
||At 31 March 2024|66,070|34,522|12,551|113,143|
||**NET BOOK VALUE**|||||
||At 31 March 2024|125,904|3,395|7,180|136,479|
||At 31 March 2023|145,101|4,530|8,973|158,604|
continued...
Page 24
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**15.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|---|---|---|---|---|
|||2024||2023|
||||£|£|
||Trade debtors|46,315||11,227|
||Prepayments and accrued income||5,997|4,928|
|||52,312||16,155|
|**16.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||2024||2023|
||||£|£|
||Trade creditors||5,399|6,619|
||Social security and other taxes||-|5,174|
||Other creditors||1,855|1,666|
||Accruals and deferred income|51,200||37,717|
|||58,454||51,176|
||**Deferred Income**||||
||Included within Accruals and Deferred Income are the following|amounts comprising income|||
||received in advance of delivery of the related services or expenditure incurred.||||
|||||£|
||Balance at 1 April 2023|||32,706|
||Released to income from charitable activities|||(28,720)|
||Amount deferred in year|||44,904|
||Balance at 31 March 2024|||48,890|
## **17. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years|2024
£
1,483
-
1,483|2023
£
1,549
2,722
4,271|
|---|---|---|
Page 25
continued...
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted
funds
£
Fixed assets
46,321
Current assets
282,545
Current liabilities
(20,467)
308,399|Restricted
funds
£
90,158
122,579
(37,987)
174,750|2024
Total
funds
£
136,479
405,124
(58,454)
483,149|2023
Total
funds
£
158,604
548,476
(51,176)
655,904|
|---|---|---|---|
## **19. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
PAUSE Project
Capital grants
Kids Club
Connected Kids
BBO - Wise Steps
Positive Pathways - Wellbeing
National Lottery Community Fund -
Together in our Community
Holiday Activities Fund
Jubilee Art Trail
Other restricted funds
Crisis Support
Climate Action Collective
Wise Group-NTCA-Relational
Mentoring
Social Inclusion - Training Kitchen
Street Play
Green Together
**TOTAL FUNDS**|At 1/4/23
£
307,604
210,500
518,104
-
104,616
-
1,832
900
-
-
7,244
3,840
19,368
-
-
-
-
-
-
137,800
655,904|Net
movement
in funds
£
(203,807)
-
(203,807)
31,892
(14,458)
7,207
(185)
(900)
2,227
7,799
(3,514)
(7,374)
(227)
4,573
2,465
1,928
2,006
(2,387)
-
31,052
(172,755)|Transfers
between
funds
£
(5,898)
-
(5,898)
-
-
1,647
(1,647)
-
13,694
-
-
3,534
(19,141)
3,424
-
-
-
2,387
2,000
5,898
-|At
31/3/24
£
97,899
210,500
308,399
31,892
90,158
8,854
-
-
15,921
7,799
3,730
-
-
7,997
2,465
1,928
2,006
-
2,000
174,750
483,149|
|---|---|---|---|---|
Page 26
continued...
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **19. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
PAUSE Project
Capital grants
Kids Club
Connected Kids
BBO - Wise Steps
Positive Pathways - Wellbeing
National Lottery Community Fund -
Together in our Community
Holiday Activities Fund
Jubilee Art Trail
Other restricted funds
Crisis Support
Climate Action Collective
Wise Group-NTCA-Relational
Mentoring
Social Inclusion - Training Kitchen
Street Play
Green Together
Children in Need
**TOTAL FUNDS**|Incoming
resources
£
264,279
54,324
-
22,154
3,909
-
5,233
22,805
18,639
13,898
21
5,783
2,600
18,024
4,609
5,394
3,000
1,250
181,643
445,922|Resources
Movement
expended
in funds
£
£
(468,086)
(203,807)
(22,432)
31,892
(14,458)
(14,458)
(14,947)
7,207
(4,094)
(185)
(900)
(900)
(3,006)
2,227
(15,006)
7,799
(22,153)
(3,514)
(21,272)
(7,374)
(248)
(227)
(1,210)
4,573
(135)
2,465
(16,096)
1,928
(2,603)
2,006
(7,781)
(2,387)
(3,000)
-
(1,250)
-
(150,591)
31,052
(618,677)
(172,755)|
|---|---|---|
continued...
Page 27
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **19. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Capital grants
Connected Kids
BBO - Wise Steps
National Lottery Community Fund -
Together in our Community
Holiday Activities Fund
Jubilee Art Trail
Other restricted funds
**TOTAL FUNDS**|At 1/4/22
£
300,869
210,500
511,369
116,369
-
-
8,038
-
-
16,385
140,792
652,161|Net
movement
in funds
£
19,322
-
19,322
(14,501)
1,832
900
(9,851)
7,244
3,840
(5,043)
(15,579)
3,743|Transfers
between
funds
£
(12,587)
-
(12,587)
2,748
-
-
1,813
-
-
8,026
12,587
-|At
31/3/23
£
307,604
210,500
518,104
104,616
1,832
900
-
7,244
3,840
19,368
137,800
655,904|
|---|---|---|---|---|
continued...
Page 28
## **MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **19. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Capital grants
Winter Pressures
Connected Kids
BBO - Wise Steps
NHS England
National Lottery Community Fund -
Together in our Community
Holiday Activities Fund
Kickstart
North of Tyne Community Centres
Jubilee Art Trail
Other restricted funds
**TOTAL FUNDS**|Incoming
resources
£
267,500
-
4,750
37,278
51,775
96,290
-
25,929
10,090
39,438
36,096
62,475
364,121
631,621|Resources
Movement
expended
in funds
£
£
(248,178)
19,322
(14,501)
(14,501)
(4,750)
-
(35,446)
1,832
(50,875)
900
(96,290)
-
(9,851)
(9,851)
(18,685)
7,244
(10,090)
-
(39,438)
-
(32,256)
3,840
(67,518)
(5,043)
(379,700)
(15,579)
(627,878)
3,743|
|---|---|---|
The Capital Grants Fund represents the fixed assets of the charity which were acquired using grant funding, annual depreciation on those assets is charged to this fund.
Other restricted funds comprise the income and expenditure on specific projects, further detail is provided below.
## **Kids Club**
Paid for after-school clubs for 8-13 year olds subsidised by grant funding from the Community Foundation.
A grant from Children in Need contributes to the staffing costs for after school clubs for 8-13 year olds.
## **Holiday Activity Fund**
Funds positive activities for children aged between 8 and 13 during school holidays.
## **Relational Mentoring - Wise Group**
Funding to provide support for people furthest away from the labour market to develop essential life and employability skills.
## **NENC ICB**
Provide funding for a service supporting people with problematic alcohol use.
continued...
Page 29
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **19. MOVEMENT IN FUNDS - continued**
## **Jubilee Art Trail**
An 18-month project, funded by the National Lottery Community Fund, worked with a local artist and the community creating an art and nature trail in our community garden.
## **NLCF Together in the Community**
Funds a partnership project with Phoenix Detached Youth Project fund staff costs in both organisations enabling the organisations to deliver increased service offers
## **Streetplay**
Playworkers funded through Northumbria Police and Crime Commissioner fund to deliver street play activities across the NE29 postcode to children aged between 7 and 13.
## **Crisis Support**
Crisis support around food and fuel poverty for people over the age of 25. Underspent funding from Household Support Fund and Warmer Welcome merged to produce the Crisis fund
## **Climate Action Together**
Funded to bring together people of all ages in a collective to learn about climate change and develop community-led responses to the challenges they see.
## **Green Together**
Funding from NECA to do a small pilot project to get people's views on the environment. Project ended was succeeded by the Going Green Together. Project has ended.
## **Social Inclusion Fund**
Provided funding to refurbish the training kitchen to make it more accessible for centre users who have additional needs.
## **Positive Pathways Wellbeing**
Groups and community development activities aimed at combatting social isolation funded by local solicitors.
## **Designated Funds**
The trustees have set aside the following amounts out of unrestricted funds to provide for future expenditure as follows.
|expenditure as follows.||
|---|---|
||£|
|**Project Development & Innovation Fund**||
|A project development fund to support new initiatives and unforeseen activities which||
|will strengthen MWC.|35,000|
|**Repairs and Renewals Fund**||
|To cover the cost of ongoing repairs and renewals to the building and IT equipment.|12,000|
|**Maternity/Paternity Cover Fund**||
|To meet the additional costs of maternity/paternity pay and cover.|41,500|
|**Organisational Development Fund**||
|To provide opportunities for staff to undertake training and other personal development||
|which will benefit the organisation.|11,000|
continued...
Page 30
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **19. MOVEMENT IN FUNDS - continued**
## **Café Development Fund**
|To cover the cost of a more experienced person to drive forward the community café
offer in 2022 - 12 months trial period (to include salary, on costs and some
promotion/offers).
**Garden Development Fund**
To provide a fund to explore and develop the garden and services related to the garden
for the benefit of local people.
**Community Chest**
A fund available to local people to develop their own ideas and initiatives which benefit
the local community.
**Redundancy Fund**
To meet the costs of redundancy which may result from restructures or funding streams
ending.|25,000
33,500
10,000
42,500
210,500|
|---|---|
## **20. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
## **21. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**OPERATING ACTIVITIES**||||
|---|---|---|---|
|||2024|2023|
|||£|£|
|**Net (expenditure)/income for the reporting period (as per the**||||
|**Statement of Financial Activities)**||(172,755)|3,743|
|**Adjustments for:**||||
|Depreciation charges||22,125|22,503|
|Interest received||(2,381)|(238)|
|(Increase)/decrease in debtors||(36,157)|6,655|
|Increase/(decrease) in creditors||7,278|(94,895)|
|**Net cash used in operations**||(181,890)|(62,232)|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1/4/23|Cash flow|At 31/3/24|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|532,321|(179,509)|352,812|
||532,321|(179,509)|352,812|
## **22. ANALYSIS OF CHANGES IN NET FUNDS**
continued...
Page 31
**MEADOW WELL CONNECTED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **22. ANALYSIS OF CHANGES IN NET FUNDS - continued**
**Total** 532,321 (179,509) 352,812
## **23. LEGAL STATUS**
Meadow Well Connected is a company limited by guarantee, registered in England and Wales and has no share capital. The company's registered number and registered office address can be found within Reference and Administrative Details.
The liability of the members is limited. Every member undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charity in the event of its being wound up while he is a member, or within one year after he ceases to be a member, as a contribution to the debts and liabilities of the charity contracted before he ceases to be a member and of the costs, charges and expenses of winding-up, and for the adjustment of the rights of the contributories themselves.
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**MEADOW WELL CONNECTED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Rent & hiring charges
Training income
Practically Connected income
Café sales
**Investment income**
Deposit account interest
**Charitable activities**
Grants
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Charitable activities**
Wages
Social security
Pensions
Project expenses
Volunteer and staff expenses
Catering and activity costs
Sessional workers costs
**Support costs**
**Managem't and admin costs**
Wages
Carried forward|2024
£
21,035
49,938
5,669
58,697
43,717
158,021
2,381
219,955
44,530
445,922
-
300,168
19,548
7,677
62,287
1,885
37,131
3,798
432,494
34,898
34,898|2023
£
15,954
43,508
4,724
71,378
36,312
155,922
238
414,491
45,016
631,621
1,592
337,445
17,347
8,264
51,594
108
29,951
-
444,709
46,249
46,249|
|---|---|---|
This page does not form part of the statutory financial statements
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## **MEADOW WELL CONNECTED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Managem't and admin costs**
Brought forward
Social security
Pensions
Insurance
Heat, light and water
Telephone
Postage and stationery
Sundries
Staff and volunteer costs
IT costs
Professional fees
Repairs and renewals
Advertising
Depreciation of tangible fixed assets
Total resources expended
**Net (expenditure)/income**|2024
£
34,898
3,874
1,047
4,168
25,625
4,148
1,301
2,725
3,661
10,695
2,958
37,507
31,451
22,125
186,183
618,677
(172,755)|2023
£
46,249
5,399
1,387
3,428
24,292
3,892
2,406
4,958
3,979
12,400
11,450
23,652
15,582
22,503
181,577
627,878
3,743|
|---|---|---|
This page does not form part of the statutory financial statements
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