COMPANY REGISTRATION NUMBER 3662469 THE FURZEDOWN PROJECT FINANCIAL STATEMENTS 31 MARCH 2025 (A Company Limited by Guarantee) Charity Number 1076087
THE FURZEDOWN PROJECT FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2025 COIYTENTS PAGE Trustccs Annual Report Indyndent Examiner's report Statement of Financial Activities Income and Expcnditurc Account Balance sheet Notes to the Financial Siatement 8-15
THE FURZEDOWN PROJECT TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Trustees present their report together with the independently examined financial statements for the charity for the year ended 31 March 2025. The TNstees, who are also Directors of the Company for the purposes of compAny law, are collectively refetTed to US the TNstccs in this report. The Tnjstees confirni thai the financial statements comply with cutTent stalOry requirements, the m¢morandum and articles of association and the Statctncnt of Rccommended Practice . Acwunting and Rcporting by Charities- SORP applicablc to charities preparing their accounts In IiLLurdancc with FRS 102. REFERENCE AND ADMINISTRATIVE DETAILS ReglstÈr¢d ¢harlty name THE FURZEtK)WN PROJECT Charlty reglstrAtlon number 1076087 Company re¥l$tratlon number 3662469 Prln¢lpal and Reglstered offlce 91- 93 Moyser Road London SW166SJ The Trustees The trustccs who served durin8 the period were as follows.. Elected Trustees: E Sayce {Chair) Graham Loveland Prasaniha Sugunasingh&, Treasurcr- (appointed 0911012024) Rosemary Scott Manine Davics Martin Beav¢r Susan Pcarson Juliet Moxlcy (resigned 0911012024) Susan Wardrop-Roug¥en Jeff Pi¢k¢rins (appointed 9 October 20241 Company Secretary Plus Gnapr88Sttm Manager Sandra Shaw Bank CAF Bank Ltd 25 King5 Hill Avenue Kings Hill West Malling Kcnl ME194JQ Independent ex4mlner Arif Malida Chartcred Awountants 66 Moyser Road London SW16 6SQ
THE FURZEDOWN PROJECT TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2025 Strneture, Governanee and Management Covernin Document Thc Furicdown Pri)ject. a company liinited by guarantee {nuinber 3662469), and constituted by its Manorandum and Articles Ot AssoLiation daied 5, of November 1998. 11 is also a registered Lharity {No. 1076087). Residents of the Wandsworth Borough over rhe age of 60 are eniitled io become mejnbers of the Prujeel on payment of an annual subscription. Members agree to contribute an amount not exceeding £5 each in the event ot the charity winding up. The mcmbership at 31 March 2025 was 341. The tru.stccs are members of the charity but this entitles them only lo voting rights. The rruslees have no bcneficiaS interest in the ch¢irity. ointment of Trustee Thc Pi'ojLCt is Inanagcd by a 9-member Manageinent Cominittee who are also tru.8tees of the Project. The Mistees are elected by rhe member% ul the Annual Generydl Meeiing (AGM). A iru8lee ctbnnot hold offiLe for more Ihan scv¢n consecuiiv¢ years and shall Sland down for at l¢ast one y¢ar before being eligiblc to rc-elcclion. Members are circulat¢d with e list ot the retiring trustees and invil¢d lo mak¢ nominations tor ¢lectivn of new tnJste&8 at the AGM. The tnjstees Inay also co-opt person5 With particular skills as required to attend Management Cominittee meetings but nol Vote. Trustee Indiietlon and trttlnln New Trustee% undergTO il Loinpr¥h¢nsive induction prugramme io understdnd the structure und governancc of the Charity and their legF81 obligations under Chariiy Law and Coinpanivi ALt.s. They are also updated with any ¥t8trJtory And regulatory developinents thut Fllay have relevance to the governance ot the Charity. Or anlsaiion The M#nag¢in¢nr Commiiiee mccts 8 litncs pcr year. Sub-commitl¢¢s. appoinlcd by the Managemeni Committee, dLYI with issues rel¢iting to membership. fundraising and recruitment. A Project Director. Sandra Shaw appuinted by the trustcL manages the day to day opcration8 Qt the charity and has dclcgaled authority, for operational matters including tinunL¢. einployinent and activities of the Projcct. Sandrd appointed on 12 July 2U23 succccdcd James Atkins whu sadly pus%ed away ()n 29 May 2023. RelAtlonshl with lotol tommunl WJndsWUrth Council commissions Opcn Access Day Services from the FuRdOWn Project. Various local community groups, schools and churches are supportive of rhe activities of the Project. These include Age UK Wmndsworth, Wandsworth Older People5 Forum, Furx.edown Community Network, Furzedown Annual Churity Evt (FACE), St Albans Church, Mitcham Lane Baptist Church, St, James, Church, 8nd Penwortham Primary and Gravency Sccondary Schools. Rlsk man8 ement The mciin areas ol. risk to the charity ELre physical and financial. In view of the wide variety of activities undertaken in the hJrity ihe Trublee% operate a risk management strategy whi¢h Lomprises: An annual review ot risks (he Proje¢1 may face. The establishment of syste]ns and procedures to mitigAte the risks identifi¢yJ in the plan and The impl¢m¢ntalion of pro¢ur¢S design lo miniinise any potential impa¢l on th¢ ¢harity should those risks materialise. This strategy has delivered an a¢¢idenl-tr¢¢ operating environm¢Trl and has given the impetus for better planning. Staff and volunleers are Subject to DBS checks and training is given in key areas of Health. Safety and abuse of vulnerable person5. The Tnjslees r¢cognisc that the syslcms in place can only provide rcasonablc but not abqolule assurance that all risks have be¢n d¢quately managed. Ob ectives gnd Activlties The objcctivc of thc charity is tor'the benefit of the public the relief of the elderly (being person5 who are sixty years of age or over}. the housebound and disabled and their carers in the London Borough of Wandsworth." The main tocus of our work is to pr¢venl and overcome the health and psychologi¢al di(Yiculties arising troin so¢ial isolation eAperienc¢d by the elderly. The Proj¢¢i aiins lo achi¢v¢ its objeciive by: (al providing a neighbourhood ¢entre in or close to the Furzedown Ward of the London Borough of Wandsworth for 05der people in the cominunity especially those who are socially isolated. housebound or disabled and their carers-
THE FURZEDOWN PROJECT TRUSTEES ANNUAL REPORT fcontinued) YEAR ENDED 31 MARCH 2025 (b) ensuring that the users of the Centre are involved in decisions about the running of the centre and the activities that take place- (c) raising awarcness in the community about the strengths, creativity and indepcndence of older people and the many contributions that they can Inake to local lite.. and (d) breaking down batTi¢rs of age discrimination and ensure that older people ar¢ fully integrated into the Furzedown community. In achieving its objeciives, the Project has adopted a strategy of encouraging memberb and volunte¢rs lo organise and lead its aetivities. Where warrantcd, th< ProjcLt arrangcs for extcrnal cxpertise to guide and mentor Ihc participants. Publlc Benefit Thc Trustees have r¢feTred lo Ihc Charity Commission's guidance on public benefit, including 'Publi¢ b¢fit.. running a charity (PB2)' and confirm that the provision of the range of scrvices by the Furzedown Project to its members arc con%ist¢nl with its objcclives and meets the obligation to provide pubSi¢ b¢n¢fil. Thc rang¥ of services designed to prevent and overcomc social i¥olalion and in¢ludc cxerlises and activities to promote healthy living, advice on managing their affairs. raising awarenes5 of their 5ki11s and the contribution ihey make lo local life. A substantial proportion of the charity's activitics is. delivered through a Icatn of vulunteers, help the homcbound older people combat loneliness. increase social contact and alcrt social care agencies when necds arise. Achievem and Performince 2024 - 2025 was the sixth year of thc contract awarded by Wandsworth Council Adult Socilll Service% for the provision of Open A¢¢ess Day serviLe¥ for Older People. The service specifications providc bcnchtnark ¥uidanL¥ tor the Lharity and we have consistently mct and exLeed¢d the servicc spccifications bet out in this contract. Inn¢11 Revlew The financial rcsuli for the year shows a surplus of £120,21 O comprised of a surplus ot £23,805 in untricted Activities nd a surplus of £96,405 in Restricted Activities. £78,375 of the sutylus in the Unrestrictcd Activities is rescrved for the purLha5e of the new minibus to replace Lhe stolen vchiclc. Trustees, Remuner*tion No remuneration wa4 paid to the TNstecs during the year ended Mah 2025. {2024- nil) Reserves Pollc Thc TStee% reLognise the nced to hold 5ufficienl rcswves to sustain the Charitable core aciivities in the event of any unforeseen r¢du¢tion in income and to meet its legal obligation5. The poli¢y aims to hav¢ Sufficient fr¢¢ reserves equivalent lo at least Six months. operating ¢05ts. At the year-end. the free raerves stood at £116,195 onslbllllies of the Trustees The trusteL% (who are also dircctors of The FuTz¢down Project Ltd for the purpo5 of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in ac¢ordRnce with applicable law and United Kingdom Accounting Standard5 (unit Kingdom Generally Accepted Accounting Practice). Company law qUireS the trustees to prepare financial statemcnts for ¢a¢h financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoTning resources and application of resources, including the inwme and ¢xp¢nditure, of the charitable company for the year. In preparing these financial stateTnents, the trustees are required to= select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS 102),. observe the ethOdS and principles in the Charities SORP 2019 (FRS 102),.
THE FURZEDOWN PROJECT TRUSTEES ANNUAL REPORT (eoniinued) YEAR ENDED 31 MARCH 2025 make judgements and estimates that are reasonable and prudent; stalc whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the eharitablc company will continue in opcration. The tnjstees arc responsible for keeping adequate accounting records that disclos¢ with reOnable accuracy at any time the financial w)sition of the Lhuritablc ¢OTnpany and cnabl¢ them to ensure ihat thc finartcial statcments comply with ihe Companies Act 21)06. They are also responsible for saf¢guarding lh¢ assets of Ihc Charitable Company and hcncc for taking aSOnable steps for the prevention and deltiOn of fraud and other )rSU]ant1cs. In so far as the trustees are awar¢'. there is no relevant audit infornialion of which the charitable company's auditor is unaware. the Irystccs have taken all Steps that ihey oushi to havc lakcn lo mak¢ thASe1vCs awarc of any rclevanl audit infomiation and to establish Ihat the auditor is aware of that infornialion. Inde endent examiner A resoluiion lo rc-appoint Arif Malidd ds independent lIMIer fur the coming year will be pri)posed at the AGM. Approved and signed by ordcr of. thc Trustccs on 2025 Li7. Sayce Chair of Trusttts T P D Gnanapragdsllin Cumpany Secreiary
Independent Examlller's Report to the Trustees of The FurLedown Project I report to the charity tNstees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages 7 10 20. Responsibllltles and b*sls of report As the charity trustees of the company (and also its directors for the purposes of MParty law) you are responsible for the preparation of ihe accounts in accordance with the requirements of the Companies Act 2006 ('Ihe 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 exatnination, I rcport in respect of my examin&tion of your Company's accoullts as Caled out under Sli0n 145 of the Charities Act 2011 ('Ihe 2011 Act.). In canying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. IndepeDdtnt ¢xamlner's statement I have completed my examination. I confirni thai no matters have come to my atl¢ntion in connection with the examination giving me eause to believe Ih&t in any material respe¢l'. accounting records We not kcpl in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with thobe records; or 3. the accounts do not iomply with the accounting requirements of section 396 of the 2006 Act other than any requiremeni that the uccounts give a 'twe and fair view, which is not a matter considercd as part of an independcnt exAmination' or 4. the accounts have not bcen prepared in accordanc¢ with the mcthods and principles of the Statement of Recommended Pra¢iice for accounting and reporting by ¢harilie% Jpplicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 102). havc no concerns and have come across no vther matters in connection with the cxamination lo which attention should be drawn in this report in ordcr tv enable a proper understanding of the accounts to be reachcd. Arif Malida Chartered Accountants ICAEW 66 Moysff Road, London SW16 6SQ Dale
THE FURZEDOWN PROJECT STATEMENT OF FINANCIAL A1VITIEs YEAR ENDED 31 MARCH 2025 Unrestrieted Rdtritted Total Funds Total Funds Funds Funds 2025 2D24 Note INCOME FROM Lk>nations. grnnts and lega¢i¢$ Charitable Activities Investment income Oth¢r in¢omc 23,473 31,929 4,875 6.686 61963 249,339 14,599 272,812 46,528 4,875 6.686 330.901 149.258 29,808 3,660 2,374 185,100 TOTAL INCOME 263,938 EXPEIYDITURE ON Raising Funds CharibI¢ activities I34.9) 18.2291 (43,158) 1167.533) (202,4621 18.2291 (210,6911 {182,(K>31 16,5131 (1885181 Governance Cosis TOTAL EXPENDITURE (167,533) NET INCOME I (EXPENDITURE) FOR THE YEAR 23WS 96,405 120,210 -3.418 Nott: Trdnsferbctween fund¥ from unrc8tricied to designated funds 19.9911 9,991 RECONCILIATION OF FUNDS Tothl funds bTt)ught forward 14 105,508 31,676 137,185 140.603 TOTAL FUNDS CARRIED FORWARD 15 129J13 128,081 257J95 137,185 The Statement of Financial Activities includes all gains and10sses in the year and therefore 8 Statcmcnt of total recognised gains and losses has not b¢¢n prepared. Th¢r¢ were no oiher recognis gains or losses other than those statcd above. All amounts above rela1¢ to continuing ULEivities. The attached notes forn) part of the finAn¢iul Statements. SUMMARY INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 21)25 2024 INCOME 324215 1210,6911 113.524 6,686 120,2111 181,4140 {188.5181 -7,078 3,660 ,418 T(wfAL EXPENDITURE OPERATING INCOMEI(DEFICIT) Inteffst receivable and similar income NET INCOME I (EXPENDITURE)
THE FURZEDOWN PROJECT BALANCE SHEET 31 MARCH 2025 2025 2024 FIXED ASSETS Note Tan8Lble A55ets 8209 4.721 CURRENT ASSETS Debiort Cash at bank and in hand 12 33,613 235 895 269A08 2,221 171595 173,816 LIABILITIES: Deferred Income 19,9L>JI 422 CredilOT5'. Amounts falling duc within one year 13 -20J22 .41,353 NET CURRENT ASSETS 249 186 132 463 TOTAL ASSET8 LIABILITIES LESS CURRENT 257 TOTAL NET ASSETS FUNDS Rc5tricted iTwm¢ fvnd5 14 128.082 31,676 3,126 Dcsignated Funds Unrestricied income fiJnds 14 13,117 116 196 TotAI The charitable Company is entitled to exemption from audit under S¢ction 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required thc company to obtain an audit of its fin8n¢ial statements for the year ended 31 March 2023 in ardanc¢ with Section 476 of the Companies Act 2006. The Trustees acknowledge their r¢sponsibililies for (a) ensuring that the charitablc company keeps accounting reLords that comply with Scctions 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a twe and fair view of the state of the charitable company as ai the end of each finanLi#l year and of its surplus or deficit for each financial year in accord8nce with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companics Act 2006 rclating to financial statement5, 50 far as applicable to the charitable company. Thc financial statements have been preparcd in accordance with the special provisions for small companies under Partl 5 of the Companics Act 2006.These financial statements were approvcd by the Board of Trustees on Li2 Say¢¢ Chair of Tru%iees TPDGna Company Secretary Company registration no. 03662469 The attached notes fomi part of the financial statements.
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Genernl Informatlon And Basis of aecountlng The charity constitutes a public benefit entiry as defined by FRS 102. The finAncial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (Second Edition) applicable to charitics prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) i55u¢d on October 2019. the Financial Rcporting Standard applicable in the Unitcd Kingdom alld Rcpublie of Ir¢land (FRS 102), the Charities Act 201 l. the Cortlpanics ALI 2006 and UK Generally Accept¢d PraLtILC as It applies from January 2022. Assets and lidbilities are iniLially re¢OgniS at historical ¢osl or Irdnsaction valu¢ unless otherwise staled in the rclcvant accounting policy or note. Fund accounting Unrcstricted funds &re available for use at the discretion of the tNstees in further8n¢¢ of the general objectivcs of the charity and which have not been designated for other purposes. Designated funds are unrestricted funds camiarked by the Management Committee for particular purposes. Restricted funds are subjected to specific restrictions on thcir expenditure imposed by the donor or through the lem)s of an appeal. Cash tlow statement The trustees have taken advanla8e of the exemption under Charities SORP (FRS102) from including a cash flow statement in the financial $tRtements on ihe grounds that the company 15 small. In¢ome All income is recognised in the statement of financial activitieg when the charity is cntitlcd to, and virtually certain to receive, the incvme and the amount ¢an be quanlifi¢d with rcasonable accuracy. Thc followin8 policics are applicd lo particular Lale¥urieb of inLome. In cases where grants overlap thc year end. revertue is apportioned on an accrual basis. Voluntary income is received by way of grants, legacies, donations and gifts and is included in 11 in the StatLment of Finmncial Activities when receivable. Grants, wher¢ ¢ntiil¢mcnl is not condilronal on thc dclivcry of a spccific pcrfom)ancc by th¢ Charity, are recogni%ed when the Lharity becomes unconditionally entitled to the grant. Grants, where related to perforniancc and specific dcliverables, are aLcounted for as the charity earns the right to consideration by ils perfomiance. For Icgacies, entitlement 15 the earlier of the charity being notified of an impending distribution or thc legacy bcins received. At this point incoTne is recogni8¢d. On oeeasion legaLies will be notified to th¢ charity how¢v¢r it is not possibl¢ to measurc th¢ amount cxpcctcd to bc distributed. On thebe o¢¢a4ions. the legacy is ireaied as a contingeni asset and disclosed. Investmcnt income 15 included when receivable. Incomin8 resources from charitable trading activity are llceounted for when ellrned. Other incoming resources r¢lale to incom¢ not cla8Siticd in aT]y of the above categories. Resources expended Expenditur¢ is r¢¢ognised on an ac¢rual basis as a liability is incurred. Expcrkditure includcs any V AT which cannot be fully recovered. and is reported a5 part of the expenditure lo which it rclates: Costs of generating funds comprise the costs associated with attracting voluntary income. Churitable expenditure ¢omprises those ¢osis incurred by the charity in thc dclivery of 118 activities and services for its ben¢fi¢iariEs. It includes both ¢osts (hat ¢an be allocatcd dircctly to such activities and those costs of an indirect nature necessary to 8UPTXbrt them. Governance costs include those costs associated with meettng the constitutional and st&tulory requirements of the Charity and include th¢ audit fees and cost5 linkcd to the strategic management of the charity. All Costs are alloc&ted b¢twe¢n the ¢xp¢nditure cal¢gories of the SOFA on 8 basis designed to refiect th¢ use of the resource. Costs relating lo a particular activity are allocated directly, others are apportioned on an appropriate basis based on estimated time or use.
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 OperatlTrg leases Rentals applicable to operating leases where subslaniially all of ihe benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over th¢ pcriod of the I&t. TgnElble Fixed assets All fixed assets are initially recorded at cost. Depreclation Depreciation is calculated so as to write off the coyt of an asset, less it5 &Stimated residual value, over the useful economic lifc of that assct as follows.. OtTice Equipment: 25 D/0 Reducing balance Furniture and Fillings: 25 % Reducing balance Motor Vehicles.. 20 % Strnight line IT Hardware and Softwar¢: 33.3 % Strdight Lin¢ Debtors and ereditors ree¢ivablelp¥yJble wlthln one year Dcbiors and creditors with no staled interest rate and receivable or payable within one year are recorded at transaction pricc. Any losses arising from impaimicnt are reeognised in expenditure. Provl8lons Provisions are recognised when the charity has an oblisation al the balance sheet date as a result of a past cvcnl. it is probablc th81 an outflow of ecortomic bcncfils will be required in settlement and the amount can be reliably estimated. Employee beneflts The charity opwat¢s a dCfJn contribution plan for the benefit of its employees. Contributions are expensed as they bccome payable. Tax The charity is an exempt charity within the meaning of sch¢dule 3 of Ihc Charities Act 2011 and is considered lo pass thc tcsls sel out in Paragraph I S¢hcdulc 6 Finance Act 2010 and thereforc it meet5 the definition of a charitable company for UK corporation tax purposes. Golng coneerft The financial statements have been prcparcd on a going concern basis as the tTUStees believe that no material uncertainties exist. The trusteeq have considErrd the level of funds hcld and the expectcd Icvcl ot income and expenditure for 12 monihs from authorising thes¢ financial statements. The bud8¢ted income and expenditure is suffi¢ienl with the level of reserves for th¢ charity to be able to continue as a going concern.
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2025 2. INCOME FROM DONATIONS, GRANTS AND LEGACIES Unrestrleted Restrlcted 21125 Total 2(124 Total DonAtion$: Donations & Gift Aid Legacies Grants recelvable: 17,903 17,722 35.625 22,307 16.003 Wandsworth Borough Council Contract Wandsworth Borough Council Keep Fit Grants Outreach Seryice IRESTRICTEDI Grants Swlmming IRESTf(IcrEDI Grants Happine55 Programme IRESTRICTEDI Grant5 Wlnter Engagernent IRESTRICTEDI Grant LGBT Event FacSlltator IRESTRICTEDI Grants & Oonations Minlbus IRESTRICTEDI Wandsworth Boruugh Council Warm Space5 [RESTRicfED] Grants National Lottery Community Fund -Gardenlng REsTRIE0] Groundwork London Grant Ire5trlctedl Grants- Oihcr Sponsorshlp: Membership Fe 63.767 i 0,000 41.850 3,000 5,473 2,902 8.860 60,653 10,212 19,900 5.000 63.767 i 0,000 41.850 3,000 5,473 2,902 8.860 60.653 10212 19,900 5.IM)O 62.894 12,420 9,681 21.330 1.738 5.570 23,473 5.570 272,812 2.885 149,258 Total 249,339 3. INCOME FROM CHARITABLE ACTIVITIES Unrejtricte Reitriete Total Fund8 2025 Total FuDds 2024 Fundi Funds Shop Income Fundraisin8 Events Other Activities.. Fees 767.00 767 764 3,633 25,715 3633 2417 25715 18802 Other Activities - Exewi5¢ Classes 11.795 11795 6682 Other Activities- Raffles Other Activities 203 1.611 31.929 203 4415 46.528 297 846 29,808 2,804 14,599 Total 4. INVESTMENT INCOME Unrestrlcted Funds Restrlcted Funds Total Funds 2025 Total Funds 2024 Bank interest receivable- deposits 6,686 io
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 S. OTHER INCOME Unrestrlcted Restrlcted Total Funds 2025 Total Funds 2024 Fund$ Funds Trips Transport Hire of Premises 340 96 6.250 6,686 334 20 2,020 2J74 6250 6.686 To¢al 6. EXPENDITURE ANALYSIS: COSTS OF CHARITABLE ACTIVITES BY EXPENSE TYPE UDrestrlcted Regtrlcted Totil Funds Total Funds 2025 2025 202S 2024 Costs of activities, salarie4 accounting and other costs Office costs Administration costs Volunteer expenses 11.432 20,508 1.389 1,600 34,929 135,621 4.483 27.420 10 167,533 147,053 24.990 28.809 1,610 202,462 140.582 24.235 15.927 1,261 182,005 Total 7. EXPENDITURE ANALYSIS: GOVERNANCE COSTS 2025 2025 Total 2024 To¢*1 Salaries Independent Examiner's Fees Financial Costs 5,828 1,850 551 &229 5,828 1,850 551 8,229 4,500 1,750 263 51J Salaries rw¢s¢nt the ¢stimated time spent on governance matters. All other costs are expenditure directly attribul&ble to governance. li
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 8. NET INCOME I EXPENDITURE FOR THE YEAR This is stated after charging 2025 2024 Operating Lease renta15 Staff pension contributions Depreciation of tangible fixed assets Independent Examiner's fees for review of the financial statements 17,927 3,269 2.736 1.850 9,651 2.282 1.574 1,750 9. TRUSTEE REMUNERATION AND EXPENSES. No Trustee received any remuneration for the year ending 31 March 2025 (2024.. Nil). 10. STAFF COSTS AND EMOLUMENTS TotAI staff costs were ai follows: 2025 2024 Wages and S8larie5 Social Security Cost Pension costs 87,695 6,890 3.269 97,854 84,386 1,652 2.282 88J20 Pension costs represent the employer's contribution (5 /0 of salary) to the Stakeholder Pension Scheme managed by the Co- operative Insurance Society in respect of two members of staff. 10. ST AFF COSTS AND EMOLUMENTS (conlinued) Partlculars of employeo: The averag¢ number of employees during the year. calculated on the basis of fijll-time equivalenl wa5 as follows.. 2025 2024 Number of administrative staff The actual monthly number of employees during the year was as follows: 2024 No. 2023 No. No employee receivd emoluments of mor¢ than £60.000 during the year (2024- Nil) 12
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 11. TANCIBLE FIXED ASSETS Equlpment Fumlture& Flttln IT Hardre & Software TotAI COST At April 2024 Additions Disposals At 31 Mareb 2025 21.735 3.247 37,977 2,977 33,279 47.155 140,146 6,224 33.279 179.649 33,279 60.558 24,982 40,954 47,155 DEPRECIATION Ai April 2024 Additions Disposals At31 March 2025 18.731 1.562 36,260 1,174 33,279 47,155 131425 2,736 33,279 171,440 33,279 66,558 20,293 37,434 47,155 NET BOOK VALUE At 31 March 2025 4,689 3,520 8,209 At 31 March 2024 3,(M)4 1,717 4,721 All assets above are used for charitable purposes. 12. DEBTORS 2025 2024 Prepayments Other Debtors 4,079 2.221 13. CREDITORS: Amounts falllng due withln one year 2025 2024 Def¢ed Income Taxation and Soci security Accruals, Creditors 9.900 267 30,112 4.690 551 13
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS Balance at IncomlThg l Aprll 2024 Resollrces Outgoing Resources Balance at 31 MArch 2025 Transfers Restrlcted Fund- Wandsworth B C Contr&et Restrlcted Fund- Keep Fit CIAss¢s Retrieted Fund Outreach Re5trlcted Fund- Warm S Restrlcted Fund- NLCF G•rdenln Restricted Fuud - A eln Well Restricted Fund- Swlmmlng Restricted Fund- Happlness Restricted Fund - Wlnter EngA¥ement Re5trlcted Fund - Walklng & Cycling Restrlcted Fund - Minibus Des1 n8ted Fund- Redundanc Unrestricted 28.128 1,187 63.767 21.795 41.850 10,212 19.900 11.380 3.284 5.473 2.901 5.OOU 78.375 (70.113) 21,782 4,471 6,634) Sa19 8,522 1,858 3,152 4,315 1,970 4,952 78,375 13,117 116,196 (48.484) 17,7801 110.8531 (9.522) 1132) aces 2,887 -525 19311 148) 3.126 102 382 9.991 {9.9911 143.158) Purpose of Restrlcted Funds: EAeh restricted project to be descrlbed In more dttall belo WAndsworth B C Contract: The purpose of the Wandsworth Borough council contract IS to ensure that the Lharity is able io providc a range of services to the local elderly community so that thcir wcllbeing and open day acces5 serviLCS l activities ar¢ available ¢0 lh¢ local community. Keep Flt Classes: The Keep Fil classes fund aims lo provide excrLise and gencral w¢ll-being ¢lasS to the community as part of a hcalthy lifestyle. Outreach Fund: Grants from Wimbledon Foundation And Wandgworth CAre Alllqnce to befrlend an support the lsolattd and homebound old people. Warm Spaces: Grantg from the Councll to provlde support to members of the communlty f4¢ed wlih Increase in the C05t of fuel and food. Swimmlng: Grant frorn the Fleld Flmlly Charlt9ble Trust to support to support members Intere$t¢d in swimmlng. Happlness: Grant from the Hedly Foundatlon to support members 5ufferlng from dementla. Wlnter Engagement: Grant from Wandsworth Care Alllan¢e to advlse and help member5 to keep warm durlng the cold weatherl Walking Ind Cycling: Grant from the London Mayor's Ground Work Fund to eneourage mernbers to engage in regular Ivalking. Minibus Fund: Grants and donatlon5 to replgce the stolen minibus. Designated Fund: Funds transferred from the Unrestrlcted Reserves to meet commitments in the event of any staff redundancy. 14
THE FURZEDOWN PROJECT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS (coniiniied) Purpose of De51gnated fund: Redundoncy fund: Due to the charity's dependency on grants as its main source oFincoming reSoUes, the charity has ensurcd there are available designated ndS to ensure that in th¢ unfortunate event of redundancy> th¢ Charity has available designated reservcs to ensure payment. 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances At 31 March 2025 are represented by: General Deslgnated Restrleted Funds Fund Fund Totfdl 8,208 8,208 Current Assets Current Liabilities 128.309 128,082 269.509 126095 25 Fund balances At 31 March 2024 Are rePrented by: GenerAI Funds DesignAted Fund Re5trlcted Fund Total Tangible Fixed Assets Current Assets Cuent Liabilities 4.721 139,014 4,721 173.816 3,126 31.676 15. Analysls of cash and cA&h equlvilentg At l Aprll 2024 £171.595 Cash flows £64.300 At 31 March 2025 £235.895 Cash at bank and in hand l6. Deferred Income £ 9.900 of Ihc Outr¢a¢h grant from the Wandsworth Care Alliance relating lo the period aftw Ihc ycar-cnd is re¢ognised as Deferred Income as required undcr Ihc accrual basi5 of accounting and 15 included in Crcditors in the Balance Sheet 17. Penslons and other post-retlrement beneflts Defined contribution pension plans Th¢ charity opffate5 a d¢fincd contribution pension plan fr*r its employees. The amount recagnised as an cxPcn in the p¢riod was £ 3,269 (2024 - £ 2,282) 18. Related pArty transaction$ There are no related party transactions during the p¢riod £nil (2023: £ nil). 15