WOOLWELL COMMUNITY RESOURCE TRUST Operating as THE WOOLWELL CENTRE (A Company Limited by Guarantee) REPORT AND UNAUDITED ACCOUNTS 31 December 2024 Registered company number 03597034 Registered charity number 1071238
WOOLWELL COMMUNITY RESOURCE TRUST REPORT AND FINANCLAL STATEMENrs FOR THE YEAR ENDED 31 DECEIrfBER 2024 CONTENTS Page Reference and administrative details Trustees, Report 24 Independent Examiner's Report Statement of fmancial activities Balance sheet Notes to the accounts 8-16
WOOLWELL COMMUNITY RESOURCE TRUST REFERENCE AND ADMtNtSTL4TIVE DETAILS Trustees Mr C P W Huitson Mr S Marsh Mrs S Marsh MTS K Archer Secretary Mr C P W Huitson Celltre Manager Mrs L Tamsett-white Accountants Northcott Tnm]field Chartered Accountants Devonshire Villa 52 Styart Road Stoke Plymouth PL3 4EE Registered Office Darklake Lane Woolwell Plymouth PL6 7TR Company Registered Number 03597034 Charity Registered Number 1071238
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES, ANNUAL REPORT The Tnlstees Present their report and accounts for the year ended 31 December 2024. The Trustees have adopted the provisions of the Statement of Reconllnended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Structurey governance and management Governin document The organisation is a chaTitable cornpany lirnited by guarantee, incoryorated on 13 July 1998 and Tegistered as a charity on 27 August 1998. The cornpany was established under a Memorandum of Association which established the objects and powers of the cbaTitable company and is governed und¢r its Articles of Association. In the event of the company being wound up niembers are Tequired to contribut¢ an amount not exceeding £1. Recrnitment and a intm¢nt of new TnteeS The Directors of the Company are also charity Trustees for the pUoseS of charity law. Th¢y give their tirne 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 retire at tbe third annual general meeting after bis appointment buL if willing to act, such Trustee may be Teappointed. When recruiting Trustees, individuals with a skill s¢t complimentary to the existing Trltstees are sought. The aim is tbat when recruiting Trustees, individuals with a skill set complimentary to the existing TTUStees are sougbt. The aim is that the Trust¢e/Directors as a group) have a divers¢ set of skills that individually benefit the objectives of the charity. Objectmves and activities The Trust's primary Purpose is to promote for the inhabitants of Woolwell and the neigbbourhood, together dered by the administrative area of the Parish of Bickleigl without dÈstinction of se& sexual orientation or race or of political, religious or other opinions, by associating together with the said inhabitants and the local authorities, voluntary and other OTganisations in a common effort to advance education and to provide 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 particular to establish, or to secure the establishment of a couullity centre and to maintain and manage th¢ same (whether alone OT in co-operation with any local autbority or other person or body) in furtheranc¢ of the Primary PuTPOSe. The Trnstees have refeed to the guidance published by the Charity Commission on public benefit when Tevi¢wing the Trust¢¢s have referred to the guidan¢¢ published by the Charity Commission on public beneflt wben reviewing the charity's aims and objectives. Achievements and performance Contrary to expectations, 2024 was a more difficult year financially for the Woolwell Centre than anticipated. We were eager to build on the success of 2023 but struggled due to rising wage, utility and food costs. It was more of a 'treading water, year than a 'forge ahead, one. Having said tha¢ we continued to provid¢ a 11 calendar of events for our community, and beyon(L to enjoy. The highlights were: 7 Tribute Act comn]unity events - although all were well attended At was noticeable at some events tbat the spwding was lower than the average in 2023. DuTing 2024 we also provided premises for local cultUTal events, football presentations and wedding Teceptions. This is the area of business we very much hope to increase in 2025.
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES. ANNUAL REPORT Achievements and performallce contiuued The Con]munity Quiz is still very popular and engagement has grown over th¢ year. As in the previous y¢ar we staged free local community events at Easter, Halloween, several End of Tern school discos and a free Christmas Paty. Some of these events were funded from the £70,000 Postcode Lottery donation which we received in May 2024. This donation has b¢en designated by the donor for spending on items or activities which benefit the community and does not form part of our unrestricted reserve fund5. The AMIPM club continued to be well attended and a small increase on 2023's income from this income strand w&s achieved. Room bookings decreased over the 2024 year. We think this is mostly due to the general cost of living rises and the inevitabl¢ resulting downturn in attendance for some regular groups who hire Tooms at the Centre. This was disappointing but hop¢fully if the national and local economies pick up this strand of income will go back to, OT exceed, previous levels. UnforttJnat¢ly, as with all businesses a proportion of the increase in our own operating costs had to be passed on to our customers which may have been a factor for some. However, we tried to keep the these to a minimum for our local community customers. The café is very well attended and profits incre&8ed from £91,216 in 2023 to £113,599 in 2024 (a £22,383 in¢r¢ase). However, cost of sales for the café increased from £37,551 in 2023 to £52,692 in 2024 (a £15,141 incr¢as¢). This doesn't take into account staff wage increases. Similarly in the bar profits increased from £91,881 in 2023 to £100,394 in 2024 (a £8,513 increase) but cost of sales incr¢as¢d from £25,850 in 2023 to £33,110 (a £7,260 increase) in 2024, again not including staff wage increases. There are plans for 2025 for US to push to ¢xpand our bookings to include competitively priced wedding receptions. Financial review The Trustees continue to meet with the Centre Manager regularly to Teview the Centre's perfonnan¢¢ and conduct fjnancial appraisals. During these meetings strategies are discussed aiming to keep building on the success Centre achieved in 2023, despite the ¢urr¢nt challenging national fanCIal climate. At the end of 2024 The Woolwell Centre made a net suo)Ius of £55,446 and net assets at year-end were £185,701 ** All net profits aTe reinvested back into the Community Centr¢. Overall expenditure increased from £160,829 in 2023 to £215,626 in 2024 not including staff wages. Due Primarily to the increase in the Minimum Wage set by the Government of 6.7% for over 21 year olds, 16.3 /0 for 18-20 year olds and 180/0 for 16-17 year olds, staff wages Tose from £217,661 in 2023 to £243,058 in 2024. Reserves policy The Reserves Policy of 2021 set the target reserves at £180,000. As of the end of 2024 tbis target had not been achieved. **The 2024 £185,701 net assets figure caDnot be used as a 'dip I dip out, cashflow fund due to". £30,000 is reserved for staff redundancy payments should the Charity have to close. £1 1,000 is ringfenced for specifi¢ spending on AMIPM club facilities, This has been given the go ahead for work to b¢ completed in July 2025. £65,220 (net at the end of 2024) postcode lottery grant has the PTOVISO designated (by the donor) that it is for us¢ by the Centre for tbe benefit of the surroulldtng community.
WOOLWELL COMMUNITY RESOURCE TRUST TRUSTEES, A]JAL REPORT Reserves Pojicy CODtinued This means that the unr¢stricteunreSerV¢d portion of th¢ 2024 net assets figure is £79,481. In tbe light of these figures, the Reserves Policy will be reviewed by the TnteeS in 2025 - in conjunction with the Charity's accountant - Thith a view to considering an amendment. This will take into account the Trust's 2024 fmancial position and may result in the recalculation of the necessary Reserve based on up to date costs and commitments. Directors The following persons served as directors during the period: Mr C P W Huitson Mr S Marsh Mrs S Marsh Mrs K Archer The Trustees delegate the day-to-day management of the charity to MTS Lynn Tamsett-white, tbe Community C¢ntr¢ Manager. Trustees, responsibilities The Trnstees are responsible for preparing th¢ r¢port and a¢¢ounts in accordance Trith applicable law and regulations. Company law requires the TnJste¢s to Prepare accounts for each financial year. Under that law the Trustees have elected to prepare the accounts in accordance with Unifrd Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicabl¢ law). Under company law the Trustees 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 Tntstees are required to: sel¢ct suitable accounting polici¢s and then apply th¢m consistently. make judgements and estimates that are reasonable and prudent; prepare the accounts on the going concern basis unless it is inappropTiate to preslune that the company will continue in business. The Trustees are responsible for keeping adequate accountillg Tecords that aTe sufficient to show and explain the company's transtiOnS and disclose with reasonable accuracy at any time the fll]ancial position of tbe company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the ass¢ts of the company and hence for taking reasonable steps for the Prevention and detection of fraud and other irr¢gulaTiti¢s. Small company provisions Tbis report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006. This report approved by the Board on 8 July 2025 and signed on its behalf. Mr C P W Huitson Director
WOOLWELL COMMUNITY RESOURCE TRUST Independent Examiner's Report to the Trustees of Woolwell Community Resource Trust I report to the charity trustees on my examination of the accounts of tbe company for the year ended 31 December 2024 which are set out on pag¢s 6 to 16. Respollsibijities and basis of report As the charity 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 wtth the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myseIf tbat 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 company'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 examiller's statsment Since the cornpany's gross Income exceeded £250,000 your examiner must be a member of a body list¢d in section 145 of the 2011 Act. I co]]finn that I am qualified to undertake the exa]nination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies. I have completed my examination. I Conf that no matters have com¢ to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in r¢sp¢¢t of the company as required by section 386 of the 2006 Act. or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and Principles of tbe Statement of R¢commended Practice for accounting and Teporting by charities [applicable to charities PTepaTing their accounts in accordance with tbe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other ]natteTS 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. Guy Ian Northcott FCA, Bsc(Econ) Hons, DChA Institute of Chartered Accountants in England and Wales Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymollth PL3 4EE Date: 8 July 2025
WOOLWELL COMMUNITY RESOURCE TRUST STATEMENT OF FINANCIAL ACTtVlTIES (including income and expenditure account) FOR THE YEAR TO 31 DECEMBER 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Notss Income and endowments from: Donations and legacies ChaTÉtable activities - Core Charitable activities - Ancillary trade Investment income 92,250 419,979 6,123 3,193 92,250 419,979 6,123 3,193 38,361 361,104 15,300 1,812 Totsl income and endowments 521545 521545 416.577 Expenditure on: Cbaritable actÈvities - Core Charttable activities - Ancillary trade 463,653 2,446 463,653 2,446 379,593 9,613 Total expenditure 466 099 466 099 389,206 Net incomel(expenditure) and net movement in funds before gains and losses on investments 55,446 55,466 27,371 Reconcfiliation of funds: Total ftllids brougbt fonvard 16 119,255 11,000 130,255 102,884 TotaI funds Caled forward 16 174701 11,000 174 701 130,255 All incom¢ and expendItte derive from continuing activities. The statement of fmancial activities includes all gains and losses recognised during the year.
WOOLWELL COlVI[uTy RESOURCE TRUST BALANCE SHEET AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible io 8,838 10,892 Current assets Stocks Debtors Cash at bank and in hand li 12 13 2,475 11,025 187 573 201073 2,475 3,571 147,977 154.023 Creditors Amounts falling due within one year 14 20,710 Net current assetsl(liabilities) 180 363 125 863 Total assets less current ]iabiJities 189,201 136,755 Creditors Amounts falling due after more than one year 15 3,500 6,500 Net assets 185 701 130 255 Represented by UDTestricted fimd Restrtcted fLd 16 16 174,701 11,000 119,255 11,000 185,701 130 255 FOT the year ending 31 December 2024 tbe company was entitled to exemption from audit under section 477 of the Companies Act 2006 Telating to srnall cornpanies. Directors, responsibiliti¢8'. The members have not required the company to obtain an audit of its accounts for the y¢ar in question in accordance with s¢ction 476. The directors acknowledge their responsibilities for complying with tbe requirements of the Act with reSpt to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regitne. These fmancial stat¢m¢nts were approved and authorised for issue by the Board of Trustees on 8 July 2025 and were signed on their behalf by.. MI C P W Huitson Company No. 03597034 The notes on pages 8 to 16 forn] part of these accounts.
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Summary of significant accounting poIicies (a) General information and basis of preparation Woolwell Community Resource Trust 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 Tespect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page I of these financial statements. The nature of the charÈty's operations and principal activities are: The Trust's prin]ary pUOSe is to promote for the inhabitants of Woolwell aud the neighbourhoo¢ together defed by the administrative area of the Parish of Bickleigh, without dAstinction of sex, sexual orientation or race or of political, religious or other opinions, by associating together with the said iDhabitants and the local autborities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfar¢ for r¢cT¢ation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants, and in particular 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 autboTity or otheT person or body) in furtberance of the Primary Purpose. The charity constitutes a public benefit entity as defined by FRS 102. Th¢ fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accord8nce with the Financial Reporting Stalldard applicable in the t)K and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice. Th¢ financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. Th¢re are no material uncertainties upon the charity's ability to continu¢ as a going concern. The financial statements are prepared in sterling which is the fiu]ctional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these fmancial statements are set out b¢low. These policies have been consistently applied to all years Presented unless otherwis¢ ststed. (b) Fund accounting General funds are ullrestricted funds which are available for us¢ at the discretion of the TteeS in furtherance of the general objectiv¢s of the charity and which have not been desigllated for other poSes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular pury)oses. The aim and use of each deSiated fund is set out in the notes to the f]nancial statements. Restricted funds are funds which are to be used in accordance with specific Testrictions imposed by donors or which have been Taised by the cbarity for particular purposes.
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE F]NANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (e) Income recognition All incoming resour¢¢s ar¢ included in the SOFA when the cbaTity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recolsed as income wbell tbey are distributed to the projects. Gifts donated for resale are included as income wben they aTe sold. Donated facilities are included at the value to the charity where this can b¢ quantified and a tbird paty is bearing the cost. No aTnounts are included in the fmancial statements for services donated by volunteers. Incoming resources are only deferred when the income is for a future period andlor has imposed conditions which must be satisfied prior to tb¢ charity having entitlement to the income. (d) Expendfiture recognition ResouTces expended are recognised in the period in which they are incued. Resources expended include attTibutable VAT wbicb cannot be recovered. Charitable expenditure and administration costs Gomprise direct expend1tLe including direct staff costs attributable to the activity. Support costs include central costs and have been allocated to activity Cost categories on a basis consistent with use of resources. Governance costs are identified as costs associated with statutory constitutional requirements. Grants payable are charged in the year when the offer Ès conveyed to the recipient except in thos¢ c&ses where the offer is conditional, such grants being recognised as expenditure when the conditions attaching ar¢ fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as an intention, but not accrued as ¢xp¢nditure. (e) Fiied assets and depreclation Depreciation is PTovided to write off the cost of tangible fixed assets in equal instalments over thexr estimated useful economic life. The estimated US¢fi lives ar¢ as follows: Short leasehold in]provements Amortised over 20 years straight line Fixtures, fittings and furniture 5 years straight line (fj Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is the cost of purchase and is calculated on a first in first out fonnula. (g) Operating leases Operating lease rentals are chaTged to the income and expenditure account and the statement of fanCIal activities as they fall due. (h) Debtors and creditors re¢eivable/payable within one year Debtors and creditors with no stated interest rate and re£eivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO TILE FINANCIAL STATEMENFS FOR THE YEAR ENDED 31 DECEMBER 2024 (i) Cash at bank alld in band Cash at bank and cash in hond includes cash and short terni higbly liquid investments with a short Maturity of three montbs or less from the date of acquisition or opening of the deposit or similar account. (i) Financial instruments The Charity only has fman¢ial assets and financial liabilities of a kind that qualify as basic fmancial instruments. Basic financial insknents are initially recognis¢d at transaction value and subsequently measwed at their settlement valu¢ with the exception of bank loans which are subsequently measuT¢d at amorttsed cost using the effective interest method. Donations and legacies 2024 Restricted Funds 2023 Total Funds Unrestricted Funds Total Funds Postcode Community Bickleigh Parish Council South Hams District Council MaTiStow Charity Other 70.000 20,000 1,000 70,000 20,000 1,000 26,589 6,272 5,000 500 1,250 1,250 92,250 38,361 Income from charitable activities - Core 2024 2023 Rootn hire Events Events bar income Other Catering services 119,536 15,557 94,271 2,273 113,599 74,743 108,576 13,150 75,881 969 91,216 71,312 AMPM Club 419 979 361 104 Charitable acllvities - Ancillary trade 2024 2023 Community Centre Bar 6,123 15,300 Investment Allcome 2024 2023 Bank interest Teceived 3,193 1,812 io
WOOLWELL COIVIMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable actiYAties - Community Centre costs U]]restricted Community Centre CommuDity Centr¢ Bar Total 2024 Total 2023 Club Human resources Staff costs 205 184 243 058 217661 Other Community Centre costs Catering services 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 52,692 36,627 33,110 2,523 18,186 3,352 4,292 21,121 4,537 845 1,406 1,770 4,704 6,489 10,876 3,536 52,692 36,627 33,110 2,879 20,330 3,352 4,292 21,121 4,537 922 1,406 1,770 4,704 6,878 10,876 3,536 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 5,318 160,829 356 2,144 77 389 212 660 215 626 Depreciation Depreciation 3,079 303 Governance Independent exatnination 1,800 1,680 Ancillary trade 2,143 2,143 5,294 Total charitable activities 422 809 40,844 2,446 466,099 389,206 Net income expenditure for the year 2024 2023 The net incomclexpenditure for the year is stated after charging: Governauce costs: Independent Examination Other Financial Services 900 900 780 780
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 Staff numbers and costs The average monthly number of employees during the year (excluding Trustees) by function was: 2024 2023 C]]aTitable activities 18 19 The staff costs in respect of these employees were as follows: 2024 2023 Salaries and wages Social Security costs Employer allowance Pension 230,833 15,527 (5,000) 1,784 209,344 11,650 (5,000) 1,667 243 144 217,661 No employee earned £60,000 per annum or moTe. None of the Truste¢s or persons connected with them received any ernoluments or expellses during the year. The total amount of employee benefits received by key management personnel is £144,611 (2023 . £114,453). The trust considers its key management perso]]nel compromise the tsvstees, the Comn]unity Centre Manager and Team Leaders. Taxation As a charity, the company has taken advantsge of the exemptions from taxation available under S505 Incon]e aTLd CoryoTation Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chartable obj¢¢ts.' io. Tangible red assets Leasehold Improvement Fixtures, fittings and equipment Total Cost At beginning of year Additions Disposals At end of year 17,794 46,792 1,332 64,586 1,332 35,477 Depreciation At beginning of year Charge for year Disposals At end of year 17,794 35,900 3,386 53,694 3,386 12,647 44,433 Net book value At 31 Dec¢mber 2024 8,838 At l January 2024 10,892 12
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 li. Stocks 2024 2023 Goods for Tesale Toys and consumables 1,475 1,000 1,475 1,000 2,475 12. Debtors 2024 2023 Trad¢ debtors Other debtors 7,192 3,833 2,675 896 11,025 3,571 13. Cash at bank and in hand 2024 2023 Current and reserve accounts and &qsh 187573 147,977 14. Creditors: Amounts filling due within one year 2024 2023 Trade creditors Other creditOTS Accruals Deferred incom¢ 4,802 9,921 4,662 1,325 8,164 11,775 1,565 6,656 20,710 28,160 Deferred income relates to room hir¢ invoiced in advance. Balance brought forward Added Released 6,656 1,325 (6,656) Balance carried forward 13
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Creditors: Amounts falling due after olle year 2024 2023 Other creditors 16. Fund reconciliation Balance at beginning of year Balance at end of year This year Income Expenditure TransfeTS Unrestricted fund Con]munity Centre Bar activity ANIPM Club 119,255 440,679 6,123 74,743 (422,809) (2,446) (40,844) {57,644) (3,677) (33,899) 79,481 Dignated Fund Postcode Lottery Community Fund Cessation Fund 65,220 30,000 65,220 30,000 119255 521,545 174 701 Restricted fund AMPM Development Total Funds 130,255 521,545 466 099 185,701 Unrestricted Funds Unrestricted Funds represent income generated from the use of the Woolwell Cotnmunity Centre which is own¢d and rnaintained by Bickleigh Parish Council. The AMPM Club Fund represents the activity of the OFSTED regist¢red out of school activity. Designated Funds The Postcode Lottery fid is set aside for com]nunity based expenditure and reflects the donation of £70,000 in the year less costs £4,780. The Cessation Fund is for staff redundancy and &ssociafrd costs Should th¢ charity have to close. Restricted Funds The AMPM D¢v¢lopment fid is to improve external activity areas. 14
WOOLWELL COMMUNITY RESOURCE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Fund reconciliation (continued) Balance at beginning of yeaT Balance at end of year 2023 Income Expenditure Transfers Unrestricted fund Community 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 Total Funds 102,884 416 577 389 206 130,255 Unrestricted Funds Unrestricted Funds Tepr¢sent income generated from the use of the Woolwell Community Centre which is owned and maintsined by Bickleigh Parish Council. The ANLPM Club Fund represents the activity of the OFSTED r¢gistered out of school activity. Restricted Funds The AMPM Dev¢loprnent fund is to improve external activity areas. 17. Net assets Unrestricted Funds Restricted Funds Total Fun(ts Fixed Assets 8,838 8,838 Net Cuffent Assets 169,363 11,000 180,363 Creditors.. Amounts falling due after one year 3,500 3,500 174 701 185,701 18. Related party transactions There were no related part transactions in the year. 15
WOOLWELL COIVIMUNITY RESOURCE TRUST NOTES TO THE FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Financial instruments The carrying amounts of the chaTity's financial instrllm¢nts are as follows: Financial assets and liabilities rn¢asured at fair value through net income and ¢xpenditure. 2024 2023 Financial assets Trade debtors 7,192 2,675 Bank 187573 147 977 Financial liabilities Trade creditors 4,802 8,164 Other loans (cUent and long tern]) 16