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2023-12-31-accounts

Charity registration number 1077173

Company registration number 03815677 (England and Wales)

PARTNERSHIP FOR LEARNING

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

PARTNERSHIP FOR LEARNING

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs S M Bersin
Mr J Westcott
Mrs S T McLaughlin
Mrs H A Noon
Mr K J Taylor (Appointed 23 October 2023)
Charity number 1077173
Company number 03815677
Registered office South Road
Liverpool
Merseyside
L24 9PZ
Independent examiner Helen Furlong FCCA
McLintocks (NW) Limited
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
Bankers National Westminster Bank Plc
22 Castle Street
Liverpool
L2 0UP
Solicitors Hill Dickinson
1 St Paul's Square
Liverpool
Merseyside
L3 9SJ

PARTNERSHIP FOR LEARNING

CONTENTS

Page
Trustees report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7 - 8
Statement of cash flows 9
Notes to the financial statements 10 - 18

PARTNERSHIP FOR LEARNING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, a deed of trust, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objects of the charity are as follows:

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Public benefit

The board of trustees is aware of the Charity Commission's guidance on public benefit. The trustees believe that this report demonstrates how the charity provides public benefit.

PARTNERSHIP FOR LEARNING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Review of the Charity's Activities

As reported in 2022, the Charity took over the running of the building in 2010 after its previous tenant went into administration.

The Trustees continued to carry on and develop the training activities formerly controlled by its former tenant and received considerable support from several large employers, including Jaguar Land Rover, Knowsley Council, and Liverpool Council. We are deeply grateful for their continued support, which has been instrumental in our success.

In particular, the Charity benefitted from Jaguar Land Rover's use of its facilities for recruiting, assessing, and

training potential employees.

We have also facilitated Jaguar Land Rover’s delivery of two-month-long training on mental health awareness and diversity and inclusion to 5000 of their Associates.

Northwest Ambulance Service use our facilities to both train and upskill new and existing members of staff. Across 2023 the numbers that have attained qualifications are in excess 1,500. This is looking to continue into 2024.

We have in place training companies who deliver training using the premises on a long-term booking for 12

months.

In addition, the following companies accessed the facilities to deliver Conferences and training to their employees and students; Riverside Housing Association, LHT, AstraZeneca, Seqirus, NHS, 5 Borough Partnership, NWAS, Knowsley Council, Liverpool Council, Jaguar Land Rover and Ford Motor Company.

Over the past year, we have accommodated a voluntary group that works with young men on Mental health issues. We have also supported holding events for several respective charities, showcasing our commitment to the community.

We are proud of our strong ties with the local community. We have facilitated community groups from Halewood and Speke to use our facilities for training and meetings. These initiatives reflect our commitment to supporting local initiatives and positively impacting our community.

In the past year, we have supported two individuals in obtaining qualifications to further their chances of employment and develop skills to help others within their local community. This is just one example of how we are making a difference in our community. We are committed to supporting individuals and organisations in our community and making a positive impact in South Merseyside. We have also employed a young Neurodiverse person from the local community and supported them in gaining qualifications and ongoing personal development.

Partnership for Learning is very active in supporting local community objectives.

We have supported local organisations in the community by using rooms at no cost. We have also been looking to offer office space to a local charity who support terminally ill children, within Partnership for Learning.

Financial review

The financial results for the year are shown on pages 6 and 7 of these financial statements, In summary, they show a surplus of £102,421, compared with a surplus of £37,165 for 2022.

This positive economic performance is a testament to the charity's sound financial management and resilience in facing challenges. The cash position remains strong, with net current assets of £349,201 (2022 £255,670) indicating the charity's economic stability and ability to meet its obligations. The charity's free reserves amounted to £326,700 (2022 £223,170).

Reserves policy

It is trustee policy to maintain a minimum of cash on deposit which represents at least three months core costs. Currently this policy is easily met.

PARTNERSHIP FOR LEARNING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Risk management

The trustees are committed to identifying and reviewing the risks to which the charity is exposed. They have implemented a robust risk management strategy, including regular risk assessments and establishing appropriate controls. This strategy provides reasonable assurance against fraud and error, ensuring the charity's financial stability.

Plans for the future

Looking ahead, the trustees are committed to maximising the usage of our building by encouraging as many training organisations as possible on Merseyside and further afield to use our excellent facilities. We recognise the need to diversify and be flexible in using rooms to meet the challenges of the current economy and business needs. Our primary focus is on providing high-quality training linked directly to current local employer requirements, and we will continue to develop our employer engagement strategy to achieve this.

Its primary purpose is to provide high-quality training linked directly to current local employer requirements; PFL Charity continues to develop its employer engagement strategy.

We are looking at further negotiations to partner with other training organisations and have them deliver their training in PFL.

We are currently consulting with other companies and are in talks with them, which will put the charity in a firmer financial position.

We will support local voluntary groups in hiring the Partnership for Learning facility, with local action involving free use of the rooms.

Structure, governance and management

Governing document

The charity is governed by a deed of trust, which serves as its governing document. It operates as a limited company, limited by guarantee, by the Companies Act 2006. The governance structure includes a board of trustees responsible for the charity's overall management and strategic direction.

It is a registered charity governed by its governing document dated 25 August 1999.

The charity received substantial donations and grants from local businesses and organisations which were used in part to build a large, high specification training / conference centre in Speke near Liverpool which was completed in March 2001.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs S M Bersin Mr D Dunning (Retired 22 October 2023) Mr J Westcott Mrs S T McLaughlin Mrs H A Noon Mr K J Taylor (Appointed 23 October 2023)

PARTNERSHIP FOR LEARNING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Recruitment and appointment of new trustees

The process of recruiting and appointing new trustees is transparent and fair. Vacancies are filled by invitation to individuals from critical stakeholders interested in the charity's type of businesses and activities and who have the skills and knowledge to bring to the board. No external body has the right to appoint a Trustee, and the mix of the trustees is at the board's discretion. This ensures a diverse and balanced board that can effectively represent the interests of the public, private, community, and voluntary sectors.

New trustees are invited and encouraged to attend short briefing sessions to familiarise themselves with the charity and its context. The secretary ensures that the trustees are kept updated with any changes in legislation, rules, or regulations that may affect the charity.

The trustees report was approved by the Board of Trustees.

..............................

Mr K J Taylor

Trustee Dated: .........................

PARTNERSHIP FOR LEARNING

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARTNERSHIP FOR LEARNING

I report to the trustees on my examination of the financial statements of Partnership For Learning (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity 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 Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’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 I am qualified to undertake the examination because I am a member of FCCA, 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 that in any material respect:

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 financial statements to be reached.

Helen Furlong FCCA McLintocks (NW) Limited

46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR

Dated: .........................

PARTNERSHIP FOR LEARNING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 - 312
Charitable activities
Facilities 4 607,000 447,116
Catering 4 127,248 80,795
Investments 5 2,851 449
Total income 737,099 528,672
Expenditure on:
Charitable activities
Facilities 6 544,300 417,934
Catering 6 90,378 73,573
Total charitable expenditure 634,678 491,507
Total expenditure 634,678 491,507
Net income and movement in funds 102,421 37,165
Reconciliation of funds:
Fund balances at 1 January 2023 1,578,192 1,541,028
Fund balances at 31 December 2023 1,680,613 1,578,193

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

PARTNERSHIP FOR LEARNING

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
Loans and overdrafts
15
Taxation and social security
Other creditors
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
Loans and overdrafts
15
Net assets excluding pension liability
Net assets
The funds of the Charity
Unrestricted funds		 2023
£
£
1,353,913
1,500
112,789
318,621
432,910
10,000
46,183
27,526
83,709
349,201
1,703,114
22,501
(22,501)
1,680,613
1,680,613
1,680,613
1,680,613		 2022
£
£
1,355,023
1,000
114,815
214,214
330,029
10,000
33,710
30,649
74,359
255,670
1,610,693
32,500
(32,500)
1,578,193
1,578,193
1,578,193
1,578,193

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

PARTNERSHIP FOR LEARNING

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023

The financial statements were approved by the trustees on .........................

.............................. Mr K J Taylor Trustee

Company registration number 03815677 (England and Wales)

PARTNERSHIP FOR LEARNING

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash generated from/(used in)
investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(1,127)
2,851
(9,999)		 £
112,682
1,724
(9,999)
104,407
214,214
318,621		 2022
£
(2,101)
449
(7,500)		 £
935
(1,652)
(7,500)
(8,217)
222,431
214,214

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Partnership For Learning is a private company limited by guarantee incorporated in England and Wales. The registered office is South Road, Liverpool, Merseyside, L24 9PZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations and all other receipts from fundraising are reported gross and the related fundraising costs are reported in expenditure.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally on notification of the interest paid or payable by the bank.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Charitable activities

Charitable activities expenditure comprise those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and also costs of an indirect nature necessary to support them.

Governance costs

These represent costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs

Costs are allocated on a basis consistent with the use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Enter depreciation rate via StatDB - cd75 Plant and equipment 33% on cost Fixtures and fittings 33% on cost Computers 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.7 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

Taxation

The charity is exempt from corporation tax on its charitable activities.

1.10 Retirement benefits

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3 Donations and legacies

Total Unrestricted
funds
general
2023 2022
£ £
Other Covid funding - 312

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charitable activities

Provision of
training
facilities
2023
£
Sale of goods
606,914
Other income
86
607,000		 Catering
2023
£
127,248
-
127,248		 Total
Provision of
training
facilities
2023
2022
£
£
734,162
447,116
86
-
734,248
447,116		 Catering
2022
£
80,795
-
80,795		 Total
2022
£
527,911
-
527,911

5 Income from investments

Interest receivable

Unrestricted Unrestricted
funds funds
2023 2022
£ £
2,851 449

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

Provision of
training
facilities
Catering
2023
2023
£
£
Catering purchases
-
50,487
Rates & water
49,784
-
Insurance
19,407
-
Heat & light
176,359
-
Office cleaning
13,315
-
Building maintenance
53,506
-
Sundry expenses
1,847
-
314,218
50,487
Share of support costs (see
note 7)
194,139
39,891
Share of governance costs
(see note 7)
35,943
-
544,300
90,378		 Total Provision of
training
facilities
Catering
2023
2022
2022
£
£
£
50,487
-
41,312
49,784
49,664
-
19,407
18,916
-
176,359
91,635
-
13,315
15,275
-
53,506
33,479
-
1,847
3,147
-
364,705
212,116
41,312
234,030
181,837
32,261
35,943
23,981
-
634,678
417,934
73,573		 Total
2022
£
41,312
49,664
18,916
91,635
15,275
33,479
3,147
253,428
214,098
23,981
491,507

7 Support costs allocated to activities

Staff costs
Depreciation
Travel
Printing & stationery
Telephone
ICT support
Bank charges
Bank loan interest
Governance costs
Analysed between:
Facilities
Catering		 2023
£
212,903
2,235
3,390
1,948
8,935
3,368
603
648
35,943
269,973
230,082
39,891
269,973		 2022
£
193,188
3,786
1,106
1,905
8,761
4,101
453
798
23,981
238,079
205,818
32,261
238,079

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
9
Trustees
There were no trustee expenses during the year (2022 £nil.)
10
Employees
The average monthly number of employees during the year was:
Support staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
£
2,235
2023
Number
9
2023
£
199,851
12,816
236
212,903		 2022
£
3,786
2022
Number
8
2022
£
181,127
11,960
101
193,188

The key management personnel of the charity comprise the Chief Executive whose employee benefits total £60,387 (2022: £58,596).

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12
Tangible fixed assets
Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
13
Stocks
Raw materials and consumables
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Leasehold
land and
buildings
£
1,352,550
-
1,352,550
-
-
-
1,352,550
1,352,550		 Plant and
equipment
Fixtures and
fittings
£
£
129,357
495,497
524
-
129,881
495,497
129,003
494,276
528
610
129,531
494,886
350
611
354
1,222		 Computers
£
551,330
603
551,933
550,434
1,097
551,531
402
897
2023
£
1,500
2023
£
94,281
18,508
112,789
2023
£
32,501
10,000
22,501		 Total
£
2,528,734
1,127
2,529,861
1,173,713
2,235
1,175,948
1,353,913
1,355,023
2022
£
1,000
2022
£
97,899
16,916
114,815
2022
£
42,500
10,000
32,500

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 Loans and overdrafts

(Continued)

The bank loan is a government backed Bounce Back loan repayable over 5 Years. Interest is charged at 2.5%.

16 Other creditors falling due within one year

Trade creditors
Other creditors
Accruals and deferred income
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2023
£
23,478
1,298
2,750
27,526
2023
£
236		 2022
£
26,529
1,220
2,900
30,649
2022
£
101

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
1,578,192
737,099
(634,678)
1,680,613
1 January
2022
Incoming
resources
Resources
expended
At 31
December
2022
£
£
£
£
1,541,028
528,672
(491,507)
1,578,193

PARTNERSHIP FOR LEARNING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

20 Analysis of changes in net funds
At 1 January Cash flows At 31 December
2023 2023
£ £ £
Cash at bank and in hand 214,214 104,407 318,621
Loans falling due within one year (10,000) - (10,000)
Loans falling due after more than one year (32,500) 9,999 (22,501)
171,714 114,406 286,120
21 Cash generated from operations 2023 2022
£ £
Surplus for the year 102,421 37,165
Adjustments for:
Investment income recognised in statement of financial activities (2,851) (449)
Depreciation and impairment of tangible fixed assets 2,236 3,786
Movements in working capital:
(Increase) in stocks (500) -
Decrease/(increase) in debtors 2,026 (51,686)
Increase in creditors 9,350 12,119
Cash generated from operations 112,682 935