Registered number: 02895804 Charity number: 1075963 PAPERWORKS (HARROGATE) LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Armstrongwatson, Accountants, Business & Financial Advisers
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) CONTENTS Page Reference and administrative details of the Company, its Trustees and advisers Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-18
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Paul Almond (resigned 14 August 2023) Martin Baum Sandra Overfield Zahid Tarvaz Lyndon CovAing Hannah Varley-Fodden (appointed 27 June 2024) Company registered number 02895804 Charity registered number 1075963 Registered office Unit 5 Limewood Approach Leeds West Yorkshire LS14 1NG Company secretary Sandra Overfield Chief executive officer Jo Forsey Accountants Armstrong Watson Audit Limited Chartered Accountants Third Floor 10 South Parade Leeds West Yorkshire LS15QS Bankers Lloyds Bank PLC 8-11 Cambridge Crescent Harrogate North Yorkshire HG1 1PQ Page 1
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Achievement and Performance in 2023-2024 Paperworks continues to provide an exlIent service to adults wth physical and learning disabilities, autism and mental health issues. This year we have achieved our target of 25 trainees per day and have since risen to 26 every day wth a waiting list. The demand for our services is higher than ever, wth referrals from a variety of sources including colleges, adult social care, GP'S, families, Occupation Therapy and other clinicians. With this increased number of trainees, we also needed to increase the level of commercial work. Whilst we had some successes with this, as the commercial has struggled in the current climate, we did not reach the levels of new clients we had hoped for. However, our trainees have been kept busy wth a good range of work from our existing clients and shredding continued to be steady. We have started in this year with the development of our first Paperworks branded gift box, which is sold online, via craft fairs and through B2B and direct sales. This was a Christmas box and alongside this we registered the trademark of 'A Little Bird Told Me, and developed a basic website for further development next year. Trainees have been involved in all stages of the project, with the pilot box selling 100+ units. Our own products will run alongside our existing commercial work as another element of vthat vrfe can offer as work experience to trainees. In February 2024 we had our 30th birthday and celebrated in style throughout 2024. The first celebration of this was a Funfair day in February where we transformed the workshop over 2 days inviting clients and trainees to enjoy all the fun of the fair. There was food. stalls. racing cars, hook a duck, ball grab, shuffleboard and many more activities. Trainees made scenery, props and there were prizes and medals. A dinner was held in May 2024, with a further show planned for the end of the year. There have been a number of generous donations towards our events to enable our trainees to have a truly amazing celebration of supporting adults wth learning disabilities for 30 years. We continue to have a range of students working wth us to enhance their skills and education in the sector and have increased our numbers of Occupational Therapy students, having booked in 3 sets this year. Our reputation is high, and we have been told that we are one of the most popular placements for students which is a great honour for us. Our in-house training programme continues to excel viith training being delivered every day including.. Internet safety Writing a second story book to follow our first successful book which has now been published. Relationships including friendships and professional relationships at work The '1 can 'Summer programme focusing on wellbeing and confidence Creating prototypes for the developing of the Christmas box including video making and editing. Running alongside our commercial work and training we have run a successful wellbeing programme offering activities every day from yoga to crafts vknich have enhanced trainees, sense of wellbeing and positivity. Funding from various sources induding Liz and Tery Bramall Foundation and the Household Support Grant enabled us to provide lunches for 12 trainees as part of a supportive programme to help wth food and fuel povety. We hope to continue this next year as y know this has made a huge impact on helping these families. Future plans To increase the level and variety of commercial work in line wth trainee numbers. To increase the range of Paperworks own products. To increase training staff levels to increase the number of places available to trainees. To add additional projects and training courses to our offer. To continue 30th birthday celebrationsl Page 2
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Approved by order of the members of the board of Trustees on behalf by= 23 October 2024 and signed on their Sandra Overfield Trustee Page 3
PAPERWORKS {HARROGATE) LIMITED {A company limited by guardntee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's report to the Trustees of Paperworks (Harrogatel Limited I'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 Trustees of the Company (and 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 the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charty Commission under section 145(5)(b) of the 2011 Act. Independent examiner's ststement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ACCA, 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: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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. This report is made solely to the Company's Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My vrfork has been undertaken so that I might state to the Company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the Company and the Companls Trustees as a body, for my work or for this report. Dated: 23 October 2024 Simon Turner Armstrong Watson Audit Limited Leeds Page 4
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments Other income 8,489 381,253 647 8,953 8,489 381,253 647 8,953 14,841 335, 365 79 332 Total income 399,342 399,342 350,617 Expenditure on: Charitable activities 1.458 359,150 360,608 346, 587 Total expenditure 1.458 359,150 360,608 346, 587 Net movement in funds (1,458) 40,192 38,734 4,030 Reconciliation of funds: Totsl funds brought forward Net movement in funds 10.210 (1.458) 86,151 40,192 96,361 38,734 92,33t 4,030 Total funds carried forward 8.752 126,343 135,095 96,361 The Ststement of financial activities includes all gains and losses recognised in the year. The notes on pages 7 to 18 fomi part of these financial statements. Page 5
PAPERWORKS {HARROGATE) UMITED (A company limited by guarantee) REGISTERED NUMBER: 02895804 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 10.032 12,271 10,032 12,271 Current assets Debtors 10 71,694 85,655 49, 180 60, 607 Cash at bank and in hand 157,349 109, 787 Creditors.. amounts falling due wthin one year (32,286) (25, 697) Net current assets 125,063 84, 090 Total assets less current liabilities 135,095 96,361 Total net assets 135,095 96,361 Charity funds Restricted funds 12 8.752 126,343 10,210 86, 151 Unrestricted funds 12 Total funds 135,095 96,367 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknOedge their responsibilities for complying Trmth the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordan Vth the provisions applicable to entities subject to the small companies regime. The financial statements Vre approved and authorised for issue by the Trustees on 23 October 2024 and signed on their behalf by= Sandra Overfield Trustee Page 6
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance the Charities SORP (FRS 102) Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. pape)rkS (Harrogate) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounts'ng policy. The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest £1. The exemption has been taken from preparing a cash flow ststement on the grounds that the charity is a small charity- The company is exempt from tsx under Sections 466 to 493 Corporation Taxes Act 2010 as long as income is applied for charitable purposes only. 1.2 Going concem The trustees have prepared a budget for the remainder of the 2024125 financial year which shows that the budgeted income of the charity is expected to cover its costs, and this stability is expected to continue beyond the end of the 2025 financial year. The Trustees have considered the level of uncertainty that exists and have concluded that the possibility that the charity cannot pay its debts as they fall due for a period of at least 12 months is remote, and accordingly that no material uncertainty over going concern exists. 1.3 Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. 1.4 Income All income is recognised once the Company has entitlement to the income, it is probable that the income wll be received and the amount of income receivable can be measured reliably. Grants receivable are recognised in the statement of Financial Activities when receivable. Grants related to performance and specific deliverables are accounted for as the charity earns the right to consideration by its perfomiance. Bank interest and all other income resources are included when receivable. Page 7
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Costs of generating funds include those of generating donations and fundraising activities. Direct charitable expenditure included the direct costs of the activities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on either an estimated time or floor space, as appropriate. Govemance costs indude those costs associated with meeting the constitutional and statutory requirements of the charity and include the fees and costs linked to the strategic management of the charity. Costs of generating funds include those of generating donations and fundraising activities. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the govemance of the company apportioned to charrtable activities. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. 1.6 Tangible fixed assets and depreciation A review for Impainent of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Ststement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impaiment. Depreciation is charged so a5 to allocate the cost of tsngible fixed assets les5 their residual value over their estimated useful lives. Depreciation is provided on the followng bases.. Long-tem leasehold property Plant and machinery Motor vehides Fixtures and fittings Office equipment over the period of the lease 250A straight line basis 200/0 Straight line basis 330A.100% straight line basis 330kn-1000kn straight line basis 1.7 Interest receivable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the company., this is normally upon notification of the interest paid or payable by the Bank. Page 8
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term 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. 1.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwnding of the discount is recognised within interest payable and similar charges. 1.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their setdement value vrith the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.12 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 1.13 Fund accounting General funds are unrestricted funds vthich are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and vthich have not been designated for other purposes. Restricted funds are funds vthich are to be used in accordance Yth specrfic restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial ststements. Page 9
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Donations Legacies 2.681 5,808 2.681 5,808 8,489 8.489 Unrestncted funds 2023 Total funds 2023 Donations Legacies 8.847 6,000 8,841 6,000 14,847 14,847 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Contribution from social care providers Contribution from commercial partners 320,062 61,191 320,062 61,191 381,253 381.253 Unrestncted funds 2023 Total funds 2023 Contribution from social care providers Contribution from commercial partners 265, 650 69, 715 265, 650 69, 715 335, 365 335, 365 Page10
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Investment receivable 647 647 Unrestricted funds 2023 Total funds 2023 Investment receivable 79 79 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Charitable activity 1,458 359,150 360,608 In the opinion of the Trustees charitable activities comprise one activty lch is the provision of educational and vocational training for people physical and learning disabilities. Included wthin the charitable expenditure above are unrestricted staff costs of £261,25712023'. £243,464). Included wthin charitable expenditure above is restricted expenditure of £1,458 {2023= £1,458) which relates to depreciation. Included wthin charitable expenditure above are unrestricted other costs of £96,426 (2023.. £99,490) relating to.. Rent and other associated costs £34,609 (2023: £33,295) Communiction and other costs £44.500 {2023'. £41.393) Other propety costs £10,431 12023.. £10,423) Property repairs and flood damage £5.476 {£9,319) Other direct costs £1.410 (2023.. £5.060) Included wthin charitable expenditure is £41.747 (2023= £40,309) of support costs. of which approximately £22,000 related to staff costs and £750 VRS govemance costs. Page11
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities (continued) Summary by fund type (continued) RestriGted Unrestricted funds funds 2023 2023 Total 2023 Charitsble actiwty 1,458 345, 129 346, 587 Independent examiners remuneration 2024 2023 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts Fees payable to the Company's independent examiner in respect of.. All other services not included above 750 750 500 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 187,473 55,921 17.863 173, 393 53, 384 16,687 261,257 243, 464 The average number of persons employed by the Company during the year wa5 as follows: 2024 No. 2023 No. Average number of employees 17 No employee received remuneration amounting to more than £60,000 in either year. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 12
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Long-term leasehold property {Restricted fund) Plant and Fixtures and machinery Motor vehicles fittings {Unrestricted (Unrestricted (Restricted fund fund) fund Cost or valuation At 1 April 2023 Additions 21,877 10,311 685 22,550 7,734 At 31 March 2024 21,877 10.996 22,550 7,734 Depreciation At 1 April 2023 Charge for the year 11,668 1,458 8.249 1.466 22,550 7,734 At 31 March 2024 13,126 9.715 22,550 7,734 Net book value At 31 March 2024 8,751 1.281 At 31 March 2023 10.209 2,062 Page13
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Office Office equipment equipment {Restrictedl (Unrestricted) Total 2,737 2.975 68.184 685 2,737 2,975 68,869 2,737 2.975 55,913 2,924 2,737 2,975 58,837 10,032 12.271 Page 14
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Debtors 2024 2023 Due within one year Trade debtors 59,156 1,421 11,117 47,916 696 Other debtors Prepayments and accrued income 568 71.694 49, 180 11. Creditors: Amounts falling due within one year 2024 2023 Trade creditors 15.239 2, 187 3, 624 Other tsxation and social security Deferred grant income Accruals and deferred income 391 16.656 19,886 32,286 25,697 Page15
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Statement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds Unrestricted 86,151 399,342 (359,150 126,343 Restricted funds Jimbos 10,210 11,458 8,752 Total of funds 96,361 399,342 (360,6081 135,095 Statement of funds - prior year Balance at 31 March 2023 Balance at 1 Apnl 2022 Income Expenditure Unrestricted fvnds Unrestricted 80, 663 350,617 (345, 129) 86, 151 Restricted funds Jimbos 11,668 (1,458) 10,210 Total of funds 92,331 350,617 (346,587) 96,361 Page 16
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure General funds Restricted funds 86,151 10,210 399,342 (359,150 11,458 126,343 8,752 96.361 399.342 (360.6081 135,095 Summary of funds- prior year Balance at 31 March 2023 Balance 8t 1 Apnl 2022 Income Expenditure General funds Restricted funds 80. 663 11,668 350,617 (345, 129) (1,458) 86,151 10,210 92,331 350,617 (346,587) 96,361 14. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets 8,752 1,280 157,349 (32,286) 10,032 157.349 (32,286) Creditors due wthin one year Total 8,752 126,343 135,095 Page 17
PAPERWORKS {HARROGATE) UMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Analysis of net assets between funds Icontinued) Analysis of net assets between funds - prior period RestriGted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due wthin one year 10,210 2,061 109, 787 (25, 697) 12,271 109, 787 (25, 69T) Total 10,210 86, 151 96,361 15. Pension commilments The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,86312023- £16,687). No contribution5 were payable to the fund at the balance sheet date in thi5 and the previous year. 16. Operating lease commitments At 31 March 2024 the Company had commitrnents to make future minimum lease payments under non- cancellable operating leases as follows= 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 30,947 5,312 31,080 36, 259 36,259 67,339 17. Related party transactions There were no related party transactions to disclose during the year. 18. Controlling relationships No single Trustee or group of associated Trustees has control of the company, 19. Share capital The company is limited by guarantee and has no share capital. Page18