WOOLWELL COMMUNITY RESOURCE TRUST Operating as THE WOOLWELL CENTRE (A Company Limited by Guarantee) REPORT AND UNAUDITED ACCOUNTS 31 December 2023 Registered company number 03597034 Registered charity number 1071238
WOOLWELL COMMUNITY RESOURCE TRUST REPORT AND FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Page Referenc¢ and administrative d¢tails Tntees, Report 24 Independent Examiner's Report Statement of financial activities Balance sheet Notes to tbe accounts 8-15
WOOLWELL comUy RESOURCE TRUST REFERENCE AND ADMINISTRATIVE DETAILS Trustses Mr C P W Huitson Mr S Marsh Mrs S Marsh Mrs K ATcher Secretary Mr C P W Huitson Centre Manager Mrs L Tams¢tt-Whit¢ Accountants Nortbcott Trumfield Cbartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Registered Office DaTklake Lane Woolwell Plymouth PL6 7TR Company Registered Number 03597034 Charity Registered Number 1071238
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES, AKNUAL REPORT The Trnst¢¢s present their Teport and accounts for the year ended 31 December 2023. The Trusfres have adopted the provisions of the Statement of Recommended Practice (SORP) "A¢¢ounting and Reporting by Charities" (FRS 102) in preparing the annual report and fjnancial statm]eJts of the Charity. Structurey governance and Jnanagement Governin document The organisation is a charitable company lin]ited by gLtaTantee, incotpordted on 13 July 1998 and registered as a charity on 27 August 1998. The cotnpany was established under a Memorandum of Association which established the objects and powers of tbe charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Remiitsnent and a oiniment of new Trnstees The Directors of the company are also charity Trustees for the purposes of charity law. They give their time voluntarily and receive no benefits from the charity. All day-to-day operational matters are delegat¢d to the manager of The Woolwell Centre. Under Articles of Association each Trustee must r¢tir¢ at th¢ third allnual general meeting after his appointment buL if willing to acl such Tntee may b¢ T¢appointed. When Tecrniting Trnstees, individuals with a skill set complimentary to the existing Trustees are sought. The aim is that wben recruiting Trnstees, individuals with a skill set complimentary to the existing Trustees aTe sought. The aim is that the TrusteelDirectors as a group, have a diverse set of skills tbat individually benefit the objectives of the charity. Objectives and activities The Tntst's PTimary purpose is to promote for the inhabitants of Woolwell and the neighbourhooQ together dered by the administrative area of the Parish of Bickleigh, without distinction of sex, sexual orientation OT Tace or of political, Teligious or other opinions, by associating together with the said inhabitants and the local authorities, voluntary and other organisations in a Common effort to advance education and to PTovide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of imPToving the conditions of life for the said inbabitants, and in particular to establish, or to secure the establishment of a comtnunity centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other person OT body) in filltherance of the PTimary Puryose. The Trustees have refeThed to the guidance published by the Charity Commission on public benefit when reviewing the Truste¢s have referred to the guidance published by the Charity Commission on public benefit when reviewing th¢ charity's aims and objectives. Achievements and performance 2023 was one of the most successful years for The Woolwell Centr¢ since it's inauguration in July 2000. We are pleased to report that the aspirations for 2023 expressed in the last statement have resldted in a sigllificant increase in the total usage of the Centre by the local residents of Woolwell and the surrounding Parish villages. There have been more community based events than ever before and the profile of The Woolwell Centre is very high in the lives of local residents. Most relevant successes include: 4 TTibute Act Community events - these were well attended (average of 150 - 200 people) and were thorougbly enjoyed by all. Community (juiz nights run once a n]ontb in the Bar are extremely popular with average att¢ndan¢e topping 60 - 100 people.
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES, ANNUAL REPORT Achievements and performance continued Community events that were free to attend for residents including, Easter Egg hunL Summer Fiest4 Halloween even¢ Back to school coullnunity disco, Fireworks event and Cbristrnas Tree ligbting Signifi¢&llt increase in Toom bookings - a san]pl¢ of the bookings would be &% an NHS tratning venue, Diabetes Education classes, a Covid Vaccination Centre, Polling statio Health Visitor venue, Community Cultural events, regular Baby and Toddler groups and s¢v¢ral new Ex¢rcise classes. Totsl income from this strand of the charity is £108,576 Creation of a new website for The Woolwell Centre combined with a greater use of social media has increased and enhanced the scope of inforn]ation available to the general public and had a marked effect on footfall. club is an extremely sought after local resource and w&% at full capacity at the end of 2023. Introduction of successfvl debt management processes regarding customer payments saw a significant decrease in month by month debt ow¢d to The Woolwell Centre and has improved casbflow. Private customer debL is now managed by use of th¢ MCOL sysfrm on GOV.UK which allows us to manage our Owll debt collection. So far we have been IOOQ/o success1 in the initial stages of this process (i.e. by informing custo]ners we are about to start it) without having to proceed fijrther aud pay fees. Cafe incom¢ ha5 increased to £91,216 from £49,130 Bar income has increased to £91,881 from £59,515. In th¢ accounts in 2024 the baT income is disclosed as Event bar income £75,881 and Community Centre Bar £15,300 After many years of no actioJL the Trustees and CUTTent manager hav¢ successIlY negotiated the updating of all of the structural aspects (ri)of, windows, heating system etc) of the building. This has now been approved by the landlord - Bickleigh Parish Council. The Council have bid for and hop¢ to obtain a £250,000 Public Works Loan Board Grant w]]ich will be used in 2024 to fmance all Work. This will bring Th¢ Woolwell Centre building up to current legislative requirements and make it safer, warn]er and more cost ¢fficient. This will, in ttwn, impact on the Trust's expenditure in a positive way. Financial review Monthly Trusfrelcentre Manag¢r meetings are held to continually appraise the finances of The Woolwell Centre. Trustees are delighted with th¢ upward trend of the financial perfornian¢e of the Trust and, despite significant expenditure to increase and enhance the scop¢ of events and s¢rvi¢es the Centre can offer, we still continued to meet our expenditUTe through OUT regular income. At the end of 2023 the Centre made a net SLuplus of £27,371 and net assets at year-end were £130,255. All net profits are reinvested in the Community Centre. Reserve5 policy A Reserves Policy was introduced in 2021 with a target of £180,000. This representing 6 months of operating costs with no income and would protect the building rnnning costs and staffmg costs for this period of time. The Trustees and Centr¢ Manag¢T are very pleased to confjnn that the unrestricted reserves increased from £102,884 in 2022 to £119,255 with £1 1,000 restricted making a total r¢s¢rv¢ of £130,255. As commented in the previous statement the Trustees are Confident that the goal of £180,000 will be achi¢v¢d by the ¢nd of 2025. Due to the increase in operational costs noted at the end of 2023, the target figure of £180,000 is due to be reviewed in 2024 and will be adjusted for any fLdamental changes in the Centre's fancIal position.
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES, ANNUAL REPORT Directors The following persons served as directors during the period: Mr C P W Huitson Mr S Marsh Mrs S Marsh Mrs K Archer Appointsd 4 July 2023 The TThtreS delegate th¢ day-to-day management of the charity to Mrs Lynn Tamsett-white, the Community Centre Manager. Trustees, responsibilities The Tntstees are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the TTUStees to PTepare accounts for each fanCIal year. Under that law th¢ Trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trust¢es must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit and loss of the company for that period. In preparing these accounts, the Trnstees ar¢ required to.. select suitable accounting polÈcies and then apply them consistently. make judgements and estimates that ar¢ reasonable and prudent. prepare the accounts on the going concern basis unless it is inappropriate to presun]e tbat the company will continue in business. The Trnstees are responsible for keeping adequate accounting records that are sufficient to show and ¢xplain the company's transactions and disclose with reasonable accuracy at any time the fancIal position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small company provisions This report h&s been prepared having taken advantag¢ of th¢ small companies exemption in the Companies Act 2006. This report was approved by the Board on 25 July 2024 and Sied on its behalf. Mr C P W Huitson Director
WOOLWELL COMMUNITY RESOURCE TRUST Independent Eiaminer?s Report to tbe Trustses of Woolwell Community Resource Trust I report to the charity trustees on my examination of the accounts of th¢ company for th¢ y¢aT ended 31 December 2023 which are set out on pages 6 to 15. ResponsibAJities and basis of report As the charity trustees of tbe company (and also its directors for the purposes of company law) you ar¢ r¢sponsibl¢ for the preparation of the accounts in accordance witb the requiren]ents of the Companies Act 2006 ('the 2006 Act,). Having satisfied n]yself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and &Te eligible for independent examination, I report in respect of my examination of YOUT Cotnpany's accounts as carried out under section 145 of the ChaTities Act 2011 ('the 2011 Act,). In canying out my examination I have followed the Directions given by the Charity Comn]ission under section 145(5)(b) of th¢ 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your ¢xamineT must be a member of a body listed in section 145 of the 2011 Act. I confinn that I am qualified to undertake the examination b¢caus¢ l am a member of the Institute of Chartered Accounts in England and Wales, which 15 one of the listed bodies. I have completed my examination. I confinn tbat no matters have come to my attention in connection with the examination giving me cause to believe that in any n]aterial Tespect: accounting records w¢r¢ 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 oth¢r than any requirement that the accounts give a 'tsve 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 R¢¢ommended 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 tbis report in order to enable a prop¢r understanding of the accounts to be reached. Guy Ian Northcott FCA, Bsc(Econ) Hons, Dch Institute of Chartered Accollntants in England and Wales Northcott Trumfield Chartered Aecountants Devonsbire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Date: 25 Juty 2024
WOOLWELL COMMUNITY RESOURCE TRUST STATEMENT OF FINANCIAL ACTIVITIES (including income and ¢xp¢ndikne acwunt) FOR T} YEAR TO 31 DECEMBER 2023 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 Notes Income and endowments from: Donations and legacies Charitable activities - Core Charitable activities - Ancillary trade Investrnent income 38,361 361,104 15,300 1.812 38,361 361,104 15,300 1,812 45,317 249,888 59,515 Total income and endowments 416.577 416,577 354,720 Expenditure on: ChaTitable activities - Core Charitable activities - Ancillary trad¢ 379,593 9,613 379,593 9,613 272,892 23,137 Total expendlture 389,206 389,206 296,029 Net incomel{expenditure) and net movement in funds before gains and losses on Investnlents 27,371 27,371 58,691 Reconciliation of funds: Total fiLnds brought forward 16 91,884 11,000 102,884 44,193 Totsl fim(Ls carried forward 16 119255 130.255 102884 All income and expenditure derive from continuing activities. The statement of fJnan¢ial activities includes all gains and losses reCOLsed during the year.
WOOLWELL COMMUNITY RESOURCE TRUST BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible io 10,892 2,422 Current Vdssets Stocks Debtors Cash at bank and in hand 2,475 3,571 147,977 154,023 2,475 19,118 93,094 114 687 12 13 Creditors Amounts falling due within one year 14 28,160 Net current assetsl(]iabilities) 125 863 100 462 Total assets less current liabilities 136,755 102,884 Creditors Amounts falling due after more than one year 15 6,500 Net assets 130,255 102 884 Represented by UnrestTiCted fund RestTiCted fund 16 16 119,255 11.000 91,884 11,000 130.255 102 884 For the year ending 31 December 2023 tbe company was entided to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; The dir¢¢tors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the Provisions applicable to companies subject to the sma]I companies regime. These fmancial statements weTe approved and authorised for issue by the Board of Trust¢es on 25 July 2024 and were s]ed on their behalf by.. Mr C P W Huitson Company No. 03597034 The notes on pages 8 to 15 forni part of these accounts.
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FANCIAL STATEMENTS FOR TI& YEAR ENDED 31 DECEMBER 2023 Summary of significant accounting policies (a) General information and basis of preparation Woolw¢ll Community Resource TnLSt is a company limited by guarantee registered in England in the United Kingdom. In the event of the charity being wound UP> the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity infornation on page I of these financial statements. The nature of tbe charity's operations and principal activities are: The Trust's primary purpose is to promote for th¢ inhabitants of Woolwcll and the neighbourhood, together defed by the administrative area of the Parish of Bickleigh, without distinction of sex, sexual orientation or Tace or of political, religious OT other opinions, by &8sociating together with the said inhabitants and the local authoTities, voluntary and other organisations in a common effort to advance education and to provid¢ facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants, and in particulaT to establish, or to secure the establishment of a community centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other person OT body) in furtheTance of the Primary Putpose. The chaTity constitutes a public benefit entity as defined by FRS 102. The fanCIal statements have been prepared in accordance with Accounting and Reporting by C]]atities'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard appli¢abl¢ in th¢ United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally A¢¢ept¢d Practice. The financial statements are prepared on a going concem basis under the historical Cost Conventio modified to include certain items at fair value. There are no matertal uncertainties upon the charity's ability to continue as a going con¢em. The fancial statements are prepared in sterling which is th¢ functional currency of the charity and rounded to the nearest £1. The significant accounting poli¢i¢s applied in the preparation of these fancial statements are set out below. These policies have been consist¢ntly applied to all years pr¢sented unless oth¢nvis¢ stated. (b) Fund accounting General funds are unrestricted fijnds which are available for use at the dis¢retion of the Trust¢¢s in furtherance of the geneTal objectives of the Charity and which have not been desIated for other puryos¢s. DeS1]ated funds comprise unrestricted ftjnds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted fLmds are funds whtch are to be used in accordance with specific restiictions imposed by donors or which have been raised by the charity for particulaT PUTposes.
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (c) Income recognition All incorning resources are included in the SOFA when the charity is legally entitled to the income and the arnount can be quantified with reasonable a¢¢ura¢y. For legacies, entidement is the earlier of the charity b¢ing notified of an impending distribution or the legacy being received. Gifts in kind donated for distrlbution are included at valuation and Tecognised as income when they are distributed to the projects. Gifts donafrd for resale are included as incon]e when they are sold. Donated facilities are included at the value to the charity wheTe this can be quantified and a third paty is bearing th¢ cost. No amounts aTe included in the financial statements for services donated by volunteers. Incoming resources aTe only defeTTed when the income is for a fiLtllre period and/or has irnposed conditions which must be satisfied prior to the charity having entitlement to tb¢ incom¢. (d) Eipenditure recognition ResouTces expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which caTJnot be recovered. Charitable expendittjre and administration costs COmPTise direct expenditure including direct stsff costs attributable to the activity. Support costs include central costs and hav¢ b¢¢n allocated to activity Cost categories on a basis consistent with se of resources. Governanc¢ costs are identified as costs associated with statutory constitutional rquirements. Grants payable are ¢harg¢d in th¢ year wh¢n the offer is conveyed to the Tecipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are lfilled. Grants offered subject to conditions which have not been met at the year end are noted &8 an intentioo but not a¢¢rned as expenditure. (e) Fixed assets and depreciation Depr¢ciation is Provided to write off the cost of tangible fixed assets in equal insta]ments over their estimated usefill economic life. The estimated usefitl lives are as follows: Short leasehold improvements Amortised over 20 years straight line Fixtures, fittings and furnitlwe 5 years straight lin¢ Stocks Stocks are stated at the lower of cost and estimated selling pri¢¢ less costs to complete and sell. Cost is the cost of Purchase and is calculated on a first in frst out fomlula. (g) Operating leases Operating leas¢ rent5 ar¢ charged to the income and expenditure account and the statement of fllwicial activities as they fall due. (h) Debtors and creditors receivablelpayrdble Jvithln one yeAr Debtors and creditors with no stated inteTest rate and receivable or payable within one year are recorded at transaction price. Any losses aTising from impainnent are recognised in ¢xpendithre.
WOOLWELL COTrINtUNITY RESOURCE TRUST NOTES TO THE FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (i) Cash at bank and in hand Cash at bank and cash in hand includes cash aTLd short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (i) Financial instruments The chaTity only has fman¢ial assets and financial liabilities of a kind that qualify as basic financial instrurnents. Basie fmancial instruments are initially recognised at transaction value and subsequently measured at their settl¢m¢nt va]ue with the exception of bank loans wbich are subsequently measured at amortised cost using the effective interest method. Donations and legacies 2023 Restricted Funds 2022 Total Funds Unrestricted Funds Total Funds Bickleigh Parish Council South Hams District Council MaTiStow Charity Other 26.589 6,272 5,000 500 26,589 6,272 5,000 500 24,804 7,314 10,000 3,199 45,317 Income from charitable activities - Core 2023 2022 Room hire Events Events bar income Other Cat¢ring services AJIPM Club 108,576 13,150 75,881 969 91,216 71,312 125,549 10,397 I,ooi 49,130 63,811 361,104 249 888 Charitable activities - Ancillary trade 2023 2022 Community Centre Bar 15,300 59,515 Investnlent income 2023 2022 BaDk interest received io
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable aetivities - Community Centre costs Unrestricted Community AMPM Centre Club Community Centre Total 2023 Total 2022 Human resources Staff Costs 199,263 16,598 217 661 183 456 Other Community Centre costs Catering seTvices Events Events bar cost of sales Training Equipment and hire Rates and water Insurance Light and heat Telephone Stationery Cleaning Waste disposal Licences Subscriptions Maintenance Payment transaction costs Professional 37,551 9,908 25,850 1,839 17,052 4,219 4,026 12,566 2,715 905 2,096 4,141 3,052 5,356 16,394 2,070 5,100 154 840 37,551 9,908 25,850 1,983 20,435 4,219 4,026 12,566 2,715 1,238 2,096 4,141 3,052 5,796 17,865 2,070 23,430 4,066 144 1,290 1,517 4,513 3,784 3,257 16,505 1,847 2,675 2,086 3,350 1,895 3,347 9,395 2,290 600 2,093 333 440 1,471 218 3,896 2,093 160 829 Depreciation Depreciation 52 426 3,742 Governance Independent examination 1.680 Ancillary tradc 5,294 5,294 23,137 Total charitable Activities 359.047 9,613 389,206 296,029 Net income expenditure for the year 2023 2022 The net incomelexpenditure for the year 18 Stated after chaTging: Governance costs: Independent Examination Other Financial Services 780 780 710 710
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO TRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Staff numbers and costs The average monthly number of employees during the year (excluding TTUStees) by nctiOn was.. 2023 2022 Charitable activities 19 17 The stsff costs in respect of these employees were as follows: 2023 2022 Salaries and wages Social Security costs Employer allowance Pension 209.344 11,650 (5,000) 1,667 178,009 9,064 (5,000) 1,383 217,661 183 456 No employee earned £60,000 per annum or more. None of the Trustees or persons connected with tb¢m received any emoluments or expenses during the year. The total amount of employee benefits Teceived by key Tnanagement personnel is £114,453 (2022 £76,206). The trust considers its key nw]agement perso]]nel cornpromise the ffitees, the Comnlunity C¢ntre Manager and Team Leaders. Taxation As a charity, the company has taken advantage of the exemptions from taxation available under S505 tncome and Cotporation Taxes Act 1988 or section 252 of the Taxation of Chargeabl¢ Gains Act 1992 to the extent that these are applied to its cbartable objects. io. Tangible red assets Leasehold Improvetnent Fixtlwes, fittings and equipment Total Cost At begitming of year Additions Disposals At end of year 17,794 34,580 12,212 52,374 12,212 64,586 Depreciation At begimling of year Charge for year Disposals At end of year 17,657 137 32,295 3,605 49,952 3,742 35,900 Net book value At 31 December 2023 At l January 2023 137 2,422 12
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ii. Stocks 2023 2022 Goods for resale Toys and consumables 1,475 1,000 1,475 1,000 2,475 2,475 12. Debtors 2023 2022 Trade debtors Other debtors 2,675 896 18,426 692 13. Cash at bank and in hand 2023 2022 Current accounts and c&sh 147 977 14. Creditors: Amounts falllng due within one year 2023 2022 Trade creditors Taxation and Social Security Other CTeditOTS AccntaIs Defed income 8,164 5,323 1,265 3,750 2,562 1,325 11,775 1,565 6,656 28,160 14,225 Deferred inconle relates to room hire invoiced in advance. Balance brought forward Added Released 1,325 6,656 1,325 Balance caTTied forward 6,656 13
WOOLWELL Com[UNITy RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Creditors: Amounts falling due after one year 2023 2022 Other creditors 6,500 16. Fund reconciliation Balance at beginning of year Balance at end of year This year Income Exp¢nditure TTansf¢rs Unrestricted fund Con]]nunity Centre Bar activity AMPM Club 91,884 329,965 15,300 (359,047) (9,613) 56,453 {5,687) 119,255 91,884 416 577 389,206 119,255 Restricted fund AMPM Development 11,000 Totsl Funds 102 884 416 577 389 206 130 255 Ullrestricted Funds Unrestricted Funds represent income generated from the use of the Woolwell Community Centre which is owned and maintained by Bickleigh Partsh Council. The ANIPM Club Fund Tepresents the activity of the OFSTED regist¢red out of school activity. Restricted Funds The AMPM Development fund is to improve external activity areas. 14
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL sTATENTs FOR THE YEAR ENDED 31 DECEMBER 2023 16. Fund reeoneiliation (continued) Balance at beginning of year Balance at end of year 2022 Income Exp¢nditUTe Transfers Unrestricted fund Community Centre Bar activity AMPM Club 44,193 220,394 59,515 (229,294) (30,921) 35,814 296,029 56,591 (28,594) 91,884 343,720 Restricted fund AMPM Development 11,000 11,000 Total Funds 354 720 296 029 102 884 Unrestricted Funds Unrestrictsd Funds represent income generated from the use of the Woolwell Community Centre which is owned and rnaintsined by Bickleigh P]Sh Council. The AMPM Club Fund repr¢sents the activity of the OFSTED registered out of school activity. Restricted Fund5 The AMPM Development fund is to inlprove external tivity areas. 17. Net assets Unrestricted Funds Restricted Funds Total Funds Fixed Ass¢ts 10,892 10.892 Net knent Assets 114,863 11,000 125,863 CreditOTS.' Amounts falling due after one year (6,500) (6,500) 119,255 11,000 130,255 18. Related party transactions There were no related part transactions in the year. 15