Company registration numb￿. 3920430
Charity registration number. 1081148
Parchment Trust
(A company limited by guarantee)
Ann￿1 Report and Finan¢i81 Statements
for the Year Ended 31 July 2024
Statutory Auditor
39 High Street
Battle
East Sussex
Th133 OEE

Parchment Trust
Contents
Reference and Administrative Details
Trustees, Report
2to8
Stalement of T￿￿t¢t$' Responsibilities
Independcnt Auditors, R¢port
IOto13
Stat¢ment ofFiDancial Activitics
14to15
Balance Sheel
16
Ststement of Cash Flows
17
Notes to the Financial Statements
18to32

Parehment Trust
Reference and Admlnlstratlve Detalls
Trustee5
J A Hassell
D M Walker
K T Walker
S Parsons
R D While
Secretary
J A H&8sell
Ch*rlty Rtglslrndon Number
1081148
Collyally Reglstrntlon Number
3920430
The charity is incoTP)Taied in England and Wale
Ore Place Fam
The Ridge
Ilaslin8S
E&81 Sus5eX
TN34 2RA
R¢gl$t¢red Offlee
PrlnclpAI Offlce
Ore Place F•rni
The Ridge
Flasiings
Easl Suss¢x
TN34 2RA
Audltor
Manningions
Statuiory Auditor
39 Hi8h Street
BaiilL
TN33 OEE
Solkltors:
Heringions
37-39 Gildrcd8e Road
E&sil)ourne
BN214RX
National Weslminsler Bank plc
HJv¢lock Road
Hastin8S
Easi Suss
TN34 IBE
Bankers
Page I

Parchment Trust
Trustees, Report
The trustees. who are directors for thc purposes of company law, present the annual report logether with the
financial S￿ternents and auditors, report of the charitable company for the year ended 31 July 2024.
Objectives and a¢ilvlti¢s
Objects and aim.%
Objects
The objects of the charity are:
. the relief of persons with physical, mental and leaming disabilities by the provision of occupational and day care
activities. and all other activities that are conducive to the attainment of this objcct.
to promote social inclusion for the public benefit by preventing people becoming socially excluded. minimising the
effects of disabilily and impainnenls, whicb include isolation. povcrty and disadvantage in the workplace, relieving
the nceds of those people who arc wially ex¢lud¢d and assisting them to integrate into society by:
i) the provision of services directly to eligible individuals. either r¢sidential, in the Community or through supported
employment Irdining programmes.
ii) improving opportunities lo the local ¢ommunily* of which the above mentioned individuals are parL by crealing
employtnent opportunities, recreational facilities and community centres and sUP￿rted busIn￿eS which benefit the
whole community socigl structure.
Our Values:
Act with love: We lead with kindness. compassion and respecL and inspire others to do the same.
Be arnbi(ious: We support everyone to use their strengths and reach their potential with maximum indq)endence gnd
autonomy.
Never stop learning: We are curious experts, always looking for the best ways to make a difference to people's lives.
Do it together: Wc work with our members, the community and cach other to drive betl¢r opportunities for disabled
people.
Share the joy. Our caring culture and sirong relationships bring a uniquc sensc ofjoy and wellbeing. Let's share ii.
Our Purposc: Working togcther for better lives.
Our Vision: We believe in a world Whe￿ disabled people can flourish equally and experience their tTue potcntial.
Our Mission: Our day servic¢5 create powerful opportunities and lastin8 change for disabled adults, throu8h cxpcrt
supw)o Icarning and connection.
Page 2

Parehment Trust
Trustees, Report
Aims and activities:
Parchment TTh￿t provi(ks individually tailort pcrson-centred servic¢s to adults with a wide rdnge of di5abilitics.
These are delivered through four s¢rvice& with crossover between them as appropriate to individual needs:
l. The c(￿Ope￿￿t1ve for adults with learning disabilities
2. The Friary Gardeners horticuliurdl scherne for adults with a variety of disabilities
3. Dedicaled and Besp)kc scrviccs to adults with profound and multipl¢ disabililies
4. Supported Employmenl lo support any Parchrncnt Trusl rncmber who is interesled in geiiing a job
We provide a rdnge of activilies. experienc¢s and learning oprK>rtunities for OUT membcrs. We support everyone lo
set goals aftd focus on aspects which support them ¢0 have bctter lives.
Parchment Trust was founded on Christian principles which have acted as ihe basis for the values within which we
Work ioday. Howcver. we do not exclusively employ nor provide services in relation to any particular faiih. Our
modern. inclusive valucs (d¢scribcd ¢arlier) are refleC￿d in everything we do. and we support all staff to uphold
these valucs every day.
Page 3

Parchment Trust
Trnstees, Report
Public benef
The trustecs have given full co￿lderatIon 10 the Charity Commi&8ion guidan¢¢ on public bcnefit and are confident
Ihai their Core activiliLS fully meel this Tequiren)enL
The tntsiees confirn) thal they have complied with the TequiTements of section 17 of the Charitie5 Act 2011 to have
due regard to the public benefit 8uidan¢e published by the Charity Commission for England and Wales.
Achievements and perfornMnce
We remain the largest independent-Se¢￿T provider of day services to our ¢lient group in East Sussex. providing
services to more than 185 people in any given week and employing around 130 stsff. Our largest area of demand
continues to be provision of s¢rvice to profoundly and multiply disabled people. who often require 2.1 support.
Member achievements Cover a vast breadth in line with their wnal goals sUp￿rting independenc< autonomy.
friendships and connectiOJLS both inside Parchmcni Trust and in th¢ widcr community. in￿tiOnallY turning the dial
on authentic inclusion.
We continue to prepare our most independent memiws for paid employmeni a¢¢ording to their ambitions. Thts is in
line with governmeni policy to signifiwily reduce th¢ gap between disabled and non-disabl¢d people in work.
Since starting the supported employment service in 2021. we have placed 12 people in paid work, 33 in voluntsry
placements aDd further work trials. Fmm 2025 plao lo broaden our focus on 'work' to engage member5 further
from the labour market in work-based activity and skills developm¢ni to provide u￿ful transferrablc skills for life
and slimulate further interest in thc world of WOTk.
Flnan¢lal revlew
Our Continu￿ careful and active finan¢ial management has resulted in the maintwwice of our healthy financial
position. Average monthly tumver for the year 2023r24 was £311.365. up from £251.852 fmm thc previous year.
This significant increase in averdge monthly turnover can be explained by a rise in fec rates from Adult Social Care
and some additional higher rdtcd Services.
Thi5 additional revenu¢ has been entirely used ￿ meet InUe￿ in staff salaries. in respoTh8e ¢0 local market forces
nd uplifts to the n81ional minimum wage.
Reserves remained relativ¢ly COnsL￿1.
Policy on reserves
The board wntinues io have in mind the n¢ed to maintsin sufficient liquid reserves to ensure the smooth operaiion
of the company and for some years bas PUT5ued the objective of Teacbing and maintsining liquidity of 6 weeks
operational ttwnover. We are pleased to report that this has again been achicve(L Free rescrves as of 3 Isl July 2024
amounied 10 £833.424. This compares to £735,623185t year.
Jnvaslmentpolicy andobjecliv¢s
Trustees have discussed the value of ihe pr¢MIs￿ ￿ Orc Place Farni and Wheth￿ il is Kg0 high in the accounls now
the residential order has been lifted. They took the decision to leave it at historical cosL
Pagc 4

ParchmeDt Trust
Trustees, Report
Plans for future perlods
Aims andkey objed1￿I0rf¥threPÉrlods
Whilst our satisfaclory financial position is w¢lcom< we remain concerned at ihe outlook with Loc81 Authority and
NHS budgets. under increasing fuwicial pr¢tywe and we continue to take a cautious view of the immediate fullfe.
Despite this broader coniext. we continue to receive a signif￿ant number of requests for new and additional
services.
We are aciively lookin8 at Wdy5 lo control ¢osts and kn gencrn* altern￿1Ve income streanLS wbilsi e]Lsuring wc
maintsin excellence within the servitts pmvidc(L In support of this havv.
. Registered for VAT to ac￿}m￿le in¢re&sed den)and for sales through tradin& particularly through our Friary
G￿tenerS plant nursery.
Incr¢ased our foctss on bid writin& responding to the emphasis placed by commissiona5 on the Social Value
element in the tendering process. We hope to gain additional funding from ncxt financial year to support a variety of
dcvclopment and site renovalii)n projects.
The legal isSL￿$ surrounding our acquisition of The Bridge Community Centre conlinued this financial year but
finally resolved March 2024, ¥A￿n we became the fvll legal owners. Upon acquisition of The Bridge we Completed
a full condiiioll SUTVCY to gain a view of the immedi*e renovation works ￿qUIred and made a 10 year plan for site
maintenance.
Parchmeni Trust have this ycar acquired a new site (The Bridge) valued at £525.(KIO which has been capitalised and
is therefore shown within FTxed assets: Land and buildings on the Balance SheeL The Bridge was acquired for no
considerdlion and thertfore is trrdted as a donated assct. However. it should be noted that the value of the asset may
not be recoverable by Parchment Tru# due to the covenants for strict ￿)Mmunity ￿e attached to the 51te dee
which would b¢ passed onio any future owner. Furtherniore, under the should Parchn)ent Trust ever wish to
dispose of this assel they m￿1 first offer the site back to Easl Sussex County Council.
A new 3 year strategy 'working together for better lives, was written in consultation with all key 5tak¢holders and
approved April 2024. The focus for thc next three years is on outcomes. not gro￿. We inl¢nd ￿ strengthen our
partncrships locally and work iogether io provide even better opportunities aThJ outcomes for our disabled members.
Page 5

Parchment Trust
Trustees, Report
Golng concern
The tswstees assess whether the use of going con¢ern is appropriate, i.e. whether there are any matrrial uncertainties
related to events or condilions that may cast Si￿lfiCant doubt on the ability of the Trust to conlinue as a going
concem. Thc TTUStees make this assessrnent in rcspect of a period of at least one year from the da* of 8uthorisation
for issue of the financial slalcmeftls and have concluded ihat the trust has adequate rcsourc￿ to continue in
operntional existence for the foresee8ble fuwre and there are no matrrial uncertaintics about the trust's ability to
conlinue as a goin8 concern. They ¢ontinue lo adopt the goin8 concern basis ofa¢¢ounling in preparing the financial
stslemcnts.
Budget foffcasts Ere prepared prior lo the beginning of e8ch financial ycar. Figures Are prcpared on the basis of the
accuracy of previous years. f0￿Casts. polenlial new business (and loss of business). uplift in fees from
¢ommissioners (if any) and projected sllary and pension contribution increases plus any &￿e¢d dcvelopment
projeots. Trustees have taken the strniegic decision to change the finJn¢ial ye&r to start 1st April frorn 2025 (inslead
of I st Au8USt), lo bring our financi&l year in line with that of our main commissioners. This will provide th¢ Trust
wilh a clearer view of income all year round as annual incorne uplifts ar¢ usually published in February. In relation
to this, and a surplus last year, Trustees have agreed a deficit budgct forecast this year of -£101,839 duc lo incom¢
phasing over just 8 months insiead of12 and a planned investment of £50.000 in The Brid8e, our newly a¢quir¢d
8lte. Thi$ deficii budget does nol eal inlo our agreed reserves. Truslees have alwuys taken 8 conservative attitude to
the financial health of th¢ or8anisation. This is reflected in the fact that actual financial perfOrn￿nCe has r¢gularly
exceeded forccast.
Management accounts are publishd monthly and arc onalyscd by th¢ Chief Ex¢culivc and the FinNn¢¢ Manabyer.
prior to distribution to all Irusiees. The Profit and Loss Account and Income and Expcndilure fi8ur¢s arc compared
to th¢ budgei profile and any anomalies or unexpected differences arc Commcnted on and explained. Prior to every
quarterly tjuslec me¢ling, the Finance Manager submits a report to the Inistees for considernlion and expre&ses an
opinton as to the financial slale of lh¢ organisalion. The Chief Execuiive also makes a written rcport to every
tnLslee5' meeting and includes financial highlights. These include surplus to date, account balances, provisional
depreL'i4tion and accounts receivable. A close watch is kept ensuring that invoicin8 is done reuularly and prompily
and that payment in responsc is also timely. Bad debt is closely monitored. Trustecs have also requested ihat the
Chief Executive comrnents on pension contributions in her report.
The tn￿te¢S and Chief Executive constantly review the economic climate, and policy from boih central and local
government are discussed. Particular consid¢rdtion is givcn to thcse whcn the annual salary review tskes placc And
Ihis review eoin¢ides with the publishin8 of local 8ov¢rnm¢nt spending plans for the coming financial year.
Increases in demand for the To￿t'S services have meant that finances have remained sound and reserve levels Are
relatively constanf in relation lo turnover. We also account and plan for the year on ycar after incrca5cs in the
National Minimum Wage and National Insurancc that have a significant impact on our budget.
The organisation has a robust and thorough Risk Re8isier which is reviewed al least annually. Strategic, Operaiional,
Compliance and Financial risks all included in th¢ register. Any aspects of high risk ar¢ tnonitored and reported
with proportionate frequency to Trustee level.
The organisation hys not been maierially affe¢td by Brexit. Nonc of the iTUSt'g business is conducted outside the
UK and lo date it has noi recruited significant numbers of sthtr from the European Union. However, tbe UK faces
huge financial unttrtainty as the rnte of inflation, cnergy costs and interest ratcs soar due to macro economic
volatility, Caus￿ at least in part by worldwide confiict. The senior leadership rontinues to monitor th¢ e¢onomic
¢limatc clo￿ly.
Page 6

Parchment Trust
Trusteesl Report
Structur4 governance and m#nagem¢nt
Nalure ofgovérnlng documenl
The Company was fornied in February 2000 as A Company. Limit¢d by Guarnntee and is a Registered Charity. At the
time of forniation the Company look ovcr the activitie5 of an unregisteffd and unincorporatcd Ch8rilable Trust
which had been operating since 1993. All activities are carried out directly by the Company altl)OUBh in 8ddi¢ion 10
thc Parchmenl Trusi narne, il also operntes in the name of Friary Gan1¢ners for its horti¢uliurdl operations.
ReeruiinKnl and appoiN¢meni ollrustee
Twstces serve for a period of 3 years after which ihcy bccome eli8iblc for re-cl¢ction. The board has a poliry of
allracting new truslecs from the local community who are fully commitled to thc values of the OTganisation. They
are introdu¢ed into the charity whcr¢ thcy meet the existing board, staff und mernbers Prior io & final dccision on
their appointm¢nt. At ihe Annual G¢ncral meelin￿ of the 23rd J8nuary 2024, Richard While and Sue Palsons w¢re
rc-cleclcd and Karen Walker wa5 ¢lecied for anoth¢r year as Chair.
Andrew Phillips siepped down from his Tole as a Truslee December 2023 alongside his wsi8nation a8 Chief
Execulive following almost 30 years of service.
Induc¢lon and ¢Mlhlng oitrusrees
Parchmenl Trust has a prolocol for lh¢ induction and trnining of new tNslces. This prolocol Cove￿ admini8trntiv¢
details. an or8#nisational overvicw. kcy rc18tionship$ (both internal and external) and the polici¢s and proccdures of
thc trust. Th¢ Charily Commissioners, in Iheir R¢view Vi511 Report, d￿Cribed Ihe protocol as"comprch¢nsive"
Organtsailonal s¢ructure
The Company is 8overned by the noTbwCXCCUtive Board of DirectorslTrustees, currently five in number. The Board
meet fornially at least 4 times a year with other ad-hoc meetin8s as appropriate lo th¢ operalion. Day-t(pday
management is in Ihe hand5 of the Chief Executivc and the Senior Management Tcam, comprising the Director of
SeTvice5. 8nd managers relaled to services. quality. daia. fa¢ilitie& finance and human resources. Since appointment
in November 2023, th¢ new Chief Executive has been working wilh thc senior management team to dcvelop and
implement the new strategy.
Major rLYkf m4nagemen¢ ofiho.le rlsks
Risk nianagemenl
The Company hes a well-dcvclop¢d risk management process in all areas of its operaiions and the Board continues
to undertakc an annual review of slralcgi¢ risks, tskinbT su¢h action 35 is considered necessary lo milibFalc any risks
so idcntificd. Our cornprehensive risk rcgisler is rcvicwed annu¥lly and is a standing Agenda item at every Annual
General Meeling. As arising, any high-level risks are lackled head-on through project manag¢mcnl in¢luding
sysicmatic monitoring and Board level-reporting until risk reduces io a s8tisfa¢tory slaius.
Page 7

Parchment Trust
Trustees, Report
Dlselosure of Inform*tlon to audltor
Each truslee has taken steps thut they ought to have taken as a tsvslee in order to make themselves aware of any
relevani audit infonnation and to establish that the charity's audilor is awarc of that inforniation. The trusle¢s
confirni that there is J)0 rel¢vant inf0m￿tion that they know of and of which thcy know the auditor is unaware.
SMAII companles provlsiop statement
This report has been prepared in accordance with the small companies regime under the Companie5 Act 2006.
Page 8

Parchment Trnst
Statement of Trustees, Responslbilitles
The tn￿te¢S (who arc also the directors of Parchment Tnst for the Purposes of company law) are responsible for
preparing the trustees. report and the financial stsiements in accordance with applicable law and United Kingdom
Accounting Standards Iunited Kingdom Gcnernlly Accepted Accounting Practice). including FRS 102 "The
Financial Reportin8 Standard applicable in the UK and Republic of Ireland..
Company law requires the trustees to Pffpa￿ financial statements for each financial year. Under company law the
tTUStees must not approve the financial staternents unlss they are ￿tISfied that they give a true and f8iT view of the
state of affairs of the charitable company and of the incoming resources and appli¢aiion of re￿urceS. including its
income and expendiluff. of the clwitable company for that PeTiO(L In preF)aTing these financial staiemenW the
trustees are required to."
select suitable a￿0Un11ng policies and apply them consistently:
observe the methods and principles in the Charities SORP.
make judgements and estimatcs that are reasonable and p￿dent.
stsl¢ whciher applicable accounting 51andards. comprising FRS 102 have followed, subjecl lo iny material
departures disc105ed and explain￿ in the financial statements. and
prepare the financial statements on the going ¢on¢ern b&sis unless it is inappropriate to presume that the
¢hari(able company will conunue in business.
The Ints￿es are responsible for keeping proper accounling records can disclos¢ with reasonable accurdcy al any
time the financial Positi(￿ of the charitable company and enable them to ensure that the financial slatements comply
with the Companies Act 2006. They are also responsiblc for safeguarding the assets of the charithble company and
hence for taking r&qsonable steps foT the prevention and detection of fraud and other iTregularities.
The trust¢&% are responsible for the mainienan¢e and integryity of the cOry￿rat¢ and financial infornwtion included on
the charithble company's wcbsile. Legislation govaning the p￿paratIOn and disscmination of fJnan¢ial statemcnls
may differ from legislation in (ther jurisdictions.
Approved by th¢ trusiees ofthe chaTity on ...
.. and sigKd on its behalf by:
sell
Trustce
Page 9

Parchment Trust
Independent Audltor's Report to the Members of Parchment Trust
Oplnlon
We have audited the financial statements of Parchmcnt Trust (Ihe 'charity) for the year ended 31 July 2024. which
omprise th¢ Siatemeni of Financial Activities. Balance Sheet, Statement ofcash Flows, and Notes to the Financial
Sta*ments. including a summary of significanl accounling policie5. The financial reporting framcwork that has been
applied in their preparation is Uniied Kingdom Accounling Stsndards, comprising Charities SORP - FRS 102 The
Financial Rcporting Standard applicablc in the UK and Republic of Ireland, and applicablc law (United Kingdom
Generally A¢cepied A¢¢ounling Practice).
In our opinion the financial statements:
give a iruc fair view of the stale of the clwity's atTa￿￿ 4$ at 31 July 2024 and of its incoming resources and
application of resourccs. in¢ludin8 its income and expenditurc, for the year then ended;
have b¢¢n properly prepared in a¢¢ordance with Unit¢d Kingdorn Generally Accepled Accountin8 Practice. and
have been prepared in ac¢ordance with the requir¢ments of the Companie5 Act 2006.
B&sls for oplnlon
We ¢onduct¢d our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)} and applicable
law. Our responsibilities under thosc slandards are fither described in the auditor responsibilities for Ihc audit of
th¢ financial ststemenls section of our report. We are independent of the charity in accordance with Ihe elhical
requirements th41 8r¢ relevant lo our audit of the financial slatemcnls in the UK. including the FRC'S Ethical
Standard, and we have fulfilled our other ethical r¢sponsibilitie5 in o¢cordan¢e with ihese requirements. We believe
that thc audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Con¢luslon$ relatlng ¢0 golnB Concern
In auditin8 ihe financial statements, we have concluded that the trustees use of the going eon¢eTn basis of aeeountin8
in the preparation ofthc fin4n¢ial slalemLnts is appropriale.
Based on th¢ work we have perfornied, we have not identified any materi£l uncertainlies relating to cvcnts or
Conditions (hal individually or collectively. may cast $i￿1r1CanI doubt on Ihe charity's ability to continue as a going
¢onccrn for a period of 81 leasl Iwclvc Months from when the original fmancial slatements were authorised for issu¢.
Our re5ponsibiliiies and thc rcsponsibilili¢s of the trustees with respccl lo concern are described iti the relevanl
sections of this repotL
Other Informatlon
The tnjstees are responsible for the other infOrn￿tion. The other infornmtion comprises the infomiation included in
the annual report, other than the financial slalcments and our auditor's report Ihereon. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we
do not express any forn] of assurdncc conclusion thereon,
In connection with our audit of the financial statements, our responsibilily is to read the other inforniation and, in
doing so. consider whether the other infomiation is materially Inconsis￿nI with the financial ststements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If wc identify suGh material
inconsisiencies or apparent material mi&8tatements. we a￿ required to deterniine whether there is a material
misstatement in the fmanci81 statem¢nts or a material misstatement of thc other informalion. If, based on the work
we havc pcrfoThed, we conclude that there is A maierial misstatement of ihis other infomiation. we are required to
report that facL
We have nothing lo report in this regard.
Pag¢ 10

Parehment Trust
Independent Audltor'$ Report to the Members of Parchment Trust
Oplnlon on other matter preserlbed by the Comp*nles Aet 2006
Jn our opinion, based on the work undertaken in the course of the audil:
the inforn)ation given in the Trustees. Report for the financial year for which ihe financial ststem¢nts are
prepared is con51St¢nt with the fuwicial State￿ and
the Trustees, Report has been prepared in KCOTdance with applicable le8al requirem¢nl&
Malters on whkh we Ire requlred to report by eiceptlon
In the light of our knowledgc and understsnding of thc charity and its environmeni obtained in the course of the
audit, we have not idenlified material Misstatemen￿ io the Tn￿le¢s. ReporL
We have nolhing 10 report in rcsp¢ct of the following matters where the Companies Act 2006 requires us to rcport to
you if. in our (yinion:
adequatc a¢¢ounling records have nol been kepL or rthrns athquate for our audii have not been received from
branche8 not visited by us: or
the financial slatements are nol in agrecmcni with the accounting recorts and returns; or
certain disclosures of tyustees remuneraiion specified by law are not made; or
wc have not received all the infonnaiion and explanations ￿ require for our audit.
ReJponslbllltl¢s of trnste
As explained more fully in the Staicment of T￿￿e¢s. Responsibilitics {set out on page 9), the tTUStees are
responsible for the preparntion of ihe financial sthiemcnts and for being ￿tIsfied thai ¢hey give a mie and fair view.
and for su¢h internal control as the trustees detCTmine is necessary to enablc the preparnlion of financial statements
that are free from material misstatemenL whether due to fraud or error.
In preparing the financial $￿emen￿ the Inislees arc T¢5ponsible for 8ssessin8 the charity's ability to continue as 8
80in8 concern, disclosing. &s applicablc, matters related to going concem and using the going concern basis of
accounlin8 unless the tn￿1ttS either intend to liquidate the charity or to cease operations, or have no realisiic
aliernalive but to do so.
Audllor rtspoMlbllldes for the audll of the flngnclal $latements
Our objeciives arc to obtain Teasonable &ssuran¢e oboui whether the financial staiements as a whole free from
materi81 mis5tatemenL wh¢iher duc lo fraud or error, and io issue an audilor's report that includes our opinion.
Reasonable 8ssuran¢e is a high level of assurance, bu¢ is nol a gugrantre thar an audit conducted in accordance with
ISAS (UK) will 8lways (kie¢i a malerial misslalemenl wben it exists. Misslatcrncnts ￿ arise from fraud or error
and are considered material if, individually or in the aggregate. they Could reasonably be expected to influence the
economic decisions ofusers taken on the basis of these financial sthtcments.
Th¢ exlen¢ to wbich our pr￿edureS are capable of ddecting irre8ulariti¢& including fraud is detailed belov.
Page I

Parchment Trnst
Independent Auditor's Report to the Members of Par¢hment Trust
As part of an audit in accordance with ISAS (UK), we exercise professional judgcmeni and maintsin
professional scepticism throughout the audiL We alg):
. Idenlify and assess the risks of material misstatement of the financial ststement& wheiher due to fiaud or
error, design and p¢rfomi audit proc¢durcs rcsponsivc to those risks, and obtain audit evid¢ncc that is
sutTicieni and appropriate to provide a basis for our opinion. The risk of noi detecting a material
missi8l¢ment resuliing from fraud is highcr than for one ￿SU1¢1￿8 from error, as fraud may involve collusion,
forgery. intentional omission& mi5repres¢ntatiotss, or the override of intcmal control.
. Obtain an undet5thndin8 of internal control r¢levant to the audit in ordcr io design 8udii pn)ccdures thai are
oppropriatc in the circumstoncc4 bui noi foT the pwpxe of ¢xprcssing an opinion on thts effc¢tivcn¢ss of ih¢
charity's in*rnal control.
• Evalua￿ the appropriawiess of accouniing polici¢s uged and the reasonablcness of a￿Ounting estimates and
related disclosurcs made by the trusl¢es.
. Conclude on the approprialen¢s8 orihe Inistees usc ofthe going conwn basis ofa¢counlinbi and. based on
thc audit ¢vidence obtained, whcthcr a materi81 un¢ertsinty exists r¢latcd to events or ¢ondilions that mpdy
cast significani doubt on the chaTity'S ability to coniinue as a going conccrn. Irw¢ conclude that a malerial
unccrtainty exists, we Are required io drnw attention in our audiior'g report lo thc relaied disclosures in the
rin&n¢ial statements or. if such disclosures are inadequate. to modify our opinion. Our conclusions are based
on th¢ audit evidence obtsincd up to the date of our auditor's reporL Howcvci, futur¢ evcnts or conditions
may caus¢ the charity 10 cease io conlinue as a going ¢oncem.
• Evaluaie ihe overnll prexntation. structure and content of the financial MateMen￿ including the diselosures.
and wheihcr thc financial statements represent the undcrlying tran5auions and events in a rnanner that
8¢hieves fair presentation.
. Obtain sufficient appropriate audit evidence regarding thc financial inf0m￿tion of ihc cntities or business
activities within ihe charity to cxprcs5 an opinion on the financial sthtemen(& We ar¢ rcsponsiblc for Ihe
direclion, supcryision and perfoMw￿¢ of the charity audiL We remain solely Tesponsiblc for our audit
opinion.
We communicate with tho% charyed with Bovernancc regardin& llmong other mattcTS. the planned 5￿pe llnd
timing of the audil and $ignific4nt audit findings. includin8 any significfinl defi¢ien¢ies in internal contToI that
w¢ identify durin8 our audil.
Use of our report
This report is madc solely to thc charitable company's ttwIc￿. as a body. in ￿¢0[dance with Chapter 3 of Part 16 of
the Companies Act 21)06. Our audit work has been undcrt2ken w that we mighi state to the charity's trustees those
matters we are required to state to thcm in an auditor's Teport and for no othcr purposc. To thc fullest extent
perniitted by law. we do not accept or assume respoDsibility io anyone other than the charitable company and its
ITUStc¢s as a body, for our 8udil worl for this reporL or for the opinions we have forn￿d.
Pagc 12

Parchment Trust
Independent Auditor's Report to the Members of Parchment Trust
Rowena Walsh FCCA (Senior Statutory Auditor)
For and on behalf of Mannington5. Statutory Auditor
39 High Street
Balt1¢
East Sussex
TN33 OEE
Date:.
.￿.10.1.12￿.
Page 13

Parchment Trust
Statement of Financial Activities for the Year Ended 31 July 2024
(Including Income and Expenditure Account and Statement of Total Recognised Galns and
Losses)
Unrestri¢ted
funds
Restricted
funds
Total
2024
Not¢
In¢ome f4nd Endowments from:
Donations and legacies
Charitable activities
Investment income
14.845
3.746,655
13,586
525.050
539,895
3,746,655
13.586
Total income
3,775.086
525,050
4 300,136
Expenditure on:
Charitable a¢livitie5
(3,622,235)
(33,519)
(3.655,754)
Total expenditure
(3,622,235)
(33,519)
(3.655,754)
Net income
152.851
491,SJ I
644,382
Nei movelnenl in funds
152,851
491531
644J82
R¢¢onelllatlon of funds
Totsl fLfftds broughi forward
Total fim(ts carried forward
1.463,694
485.172
1,948.866
19
1.616.545
976.703
2593,248
The notes on pages 18 to 32 fonn an inlegrnl part of thesc financial ststemcnts.
Page 14

Parchment Trust
Statement of Flnancial Actlvitles for the Year Ended 31 July 2024
(Including Income and Expenditure Account and Statement of Totsl Recognised Galns and
Losses)
Total
2023
Unrestrlcted
Restrlcted
Note
Income and Endowments from:
Donations and le88¢ies
Charitable aclivilies
Investment incomc
13.729
3,023225
5.136
1.238
14,967
3.023,225
5,136
Totsl income
1,238
3,043.328
Expendlture on:
Charilablc aLtivities
{2.859.005
13.480)
2,872,485
Total expenditure
Net incomel(cxpenditure)
Transfer5 between funds
2,859,005)
{13,480)
2.872,485)
183,085
(52)
(12.242)
52
170.843
Nct movcment in funds
183,033
(12,190)
170,843
Re¢onelllatloo offunds
Tothl fiuids brou¥ht forward
Total funds Carried forward
1,280.661
497,362
1.778.023
19
1.463,694
485.172
1,948,866
All of the charity's activities derive from continuing operntions durin8 the above Iwo periods.
The funds breakdown for 2023 8nd 2024 is showD in note 19.
The notes on pa8cs 18 to 32 fonn an inie8rn1 part of these fin8n¢ial statements.
Page 15

Parehment Trust
(Registration number: 3920430)
Balance Sheet as at 31 July 2024
2024
2023
Note
ixed assets
Tangible asseis
12
1.969.617
1,512232
Curr¢ot assets
Debtors
Cash ai bank and in h8nd
IJ
337,748
584.460
315,161
487,725
922,208
802,886
Creditors: Amounts falling due withln one year
14
1167,989)
(152,336)
et current assets
754.219
650.550
Total assets less eurreoi Ilablllties
2.723.836
2.162.782
Creditors: AmouDts falling due after mor¢ than ￿e yar
Net awts
15
{130588)
(213.916)
2.593248
1.948,866
Funds of the charity:
Restrlc¢ed intonR funds
Restricted funds
19
976,703
485.172
Unrestrlcted Incon￿ funds
Un￿stricted funds
1,616.545
1.463,694
Total funds
19
2 593248
1,948,866
The financial statements on pages 14 to 32 vKrc approved by the trustccs. and authorised for issue on ... ...... .... ...
ands
ed on ih¢ir behalf by:
slee
The no*S on pages 18 to 32 forn] an integrdl part of these financial statement
Page 16

Parchment Trnst
Statement of Cash Flows for the Year Ended 31 July 2024
2024
2023
Nole
CAsh Ilow$ from operatlng activilles
Net cash incomc
644.382
170.843
AdJu$tments to cash flow5 from non4Ash Itemi
Dep￿CiatIon
Investmeni income
Profitl (Loss) on disposal of fixed assets held for the charity's use
203.666
{13,586)
(2236)
832,226
128.217
(5,136)
4.628
298,552
Worklng eapltal adjustrnents
Incre￿ in debtors
Increasd(decrease) in crediiors
(Decreascyincr¢ase in d¢feTrcd income
Nct cash flows from operniing aclivilies
Cash flow$ from Investlng Ictlvldes
Interest receivable and similar In￿Me
Purchasc of lan¥iblc fixLxI asscts
Sale of thngiblc fixed assets
Nct cash flows from investing activities
C18h flows from Iln#n¢lng actlvl¢
RLpaym¢nl of loans and borrowings
Repaymen( of capital elemeni of finance leas¢s and HP conlracts
Net casb flows from ruw￿1n¥ aclivilies
13
14
15
(22,587)
21,664
143
(80,617)
(12.073)
143
831,160
206.005
13,586
(682.763)
23,948
5,136
(403,478)
5,395
12
645.229
1392,947)
14
16
(8.827)
80,369
(8,290)
153,716
89.196
145.426
Net increase/(decrease) in cash ￿NI cash cquivalents
Cash and cash equiv¥l¢nts ai l August
Cash and cash equivaknts al 31 July
96.735
(41.516)
487,725
529.241
584,460
487,725
All of the cash flows are derived from ¢ontinuin8 operations duTing thc alx)ve two period&
The notes on pages 18 to 32 f¢)rni an integral part of these financial statrmen¢s.
Page 17

Parchment Trust
Notes to the Financlal Statements for the Year Ended 31 July 2024
I Chthrity status
The charity is limiied by guarantee, incotpordted in England and Wales, and consequently does not have share
apilal. Each of the trustees is liable to ¢ontribui¢ an amount not exceeding £1 towards the wts of the Charity in
the event of liquidation.
The address of its registered office is:
Ore Place Farn]
The Ridge
Hastings
East Sussex
TN34 2RA
The principal place ofbusiness is:
Ore Place Fann
The Ridge
Ha5tings
East Sussex
TN34 2RA
2 Accoundng poli¢les
Summary ofsignifKant accounting poli¢ies and key aeeounting e5tiJnates
The principal accounting policies applied in the prepardtion of these financial 5tst¢mcnts are set out below. Th¢se
p)licies have be¢D coAsislenily applied to all the Yea￿ presenirf uoiess oth¢nvise s¢a*(L
StatemeDt of compllance
Thc financial statcments have been prepar￿ in accordance with Accounting and R¢￿rtIftg by ChaTities: Statement
of Recommend￿ Practice (appIl￿ble io chaTilies Preparing (heir accounts in a¢¢ordance with the Financial
Reporting Standard applicable in the UK and Republic of ireland (FRS 102)) (issued in October 2019) - (Charities
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ircland IFRS 102) and
the Companies Act 2006.
Basis ofpreparatlon
Parchment Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially
recognis¢d ai historical ¢osi or uansaaion value Unless otherwise stated in the relevant accounting policy notes.
Going ¢oncern
The trustees consider that there are no material uncerfainties about the charity's ability to continue as a going
¢on¢ern nor any significant areas of uncertsinty that affect the C8￿y1ng value of assets held by the charity.
Page 18

Parchment Trust
Notes to the Fin8ncial Statements for the Year Ended 31 July 2024
Judgements
DeteTmination of whdher there are indicators of impairnwil of the Charitys langible &ssets. Factors taken into
considerntion in r¢achin¥ such a decision include the ¢¢oTh)mic viabilty and cxpected rulu￿ finaDcial perforn)an
of the asset.
Key sources of esllmAtion uneertalnty
Tangible fixed assets are depreciaied over their ￿ful lives taking into account residual values. where
appropriate. The actt￿l lives of the assets and residual valuc5 aff assessed annually and may vary depending on
a number of factot5. In r¢-ass￿SIng asset live4 factors such as t￿hnOlogICal innovation. product life cycles and
maintenance programmes are taken In￿ accounL Residual value ass￿$ments ¢onsider issues such as future
maTket condilions, the rwnaining life of the assa and projected disposal values. The carrying amount is £1.969.617
(2023 -£1.512.232).
Income ind endowments
All income is recognised once the charity enlitlemenl lo the income, it is probable that the income will be
received and the amount of the in¢ome rettivable can be measured reliably. This income is dcrived from th¢
provision of good￿ServICeS and stated after trade discounts and net of vat weTe applicable.
Donarfons andlegdcies
Donations are recognised when ihe charity Iw becn notified in writing of both the amount and settlement date. In
the event that a donaiion is subject to conditions thai require a level of perforniance by the Charity before the charity
is entitled to the funds. the income is deferred and recognised willl either tho% conditions ar¢ fully mel or the
Ifilment of those conditions is wholly within the control of the charity and it is probable that these condition5 will
be fulfilled in the rep￿ing perio(L
Deferredincome
Deferred incornc represents amounts Te¢eived for future periods and is released to incoming resources in the period
for whic14 it has been received. Such incon]e is only defened WI￿.
- The donor specifies thai the grant or donation must only be used in future accounting period5: or
- The donor h&8 imp)sed condilions which must be before the chaTity has unconditional ¢ntitlement.
InveJtment Incom¢
The charity received bank In￿reSt thToUgTr￿t the YLW.
Cliarilable acftvities
ch￿l￿ble inco￿￿ is for th¢ provision of services lo provide p¢N?n-centred services lo wide raDg¢ of disabilities
ihrough occupational and day care idivities. Whilst also selling any products made through the o¢¢upational
activities by the servitt users to generate more fimds.
Oiher income
Oiher trading income is generated through small fund raising a¢tivities throughout the yar.
Page 19

Parchment Trust
Notes to the Financlal Ststements for the Year Ended 31 July 2024
Eipendllure
All expenditure is reco8nised once there is a legal or cotLwuctive obligation lo th•t upenditure. it is probable
setllement is requircd and the amouni can be measurnl reliably. All costs are allocated to the applicable expenditure
heading that aggregate similar costs to thai catcgory. Where costs cannot be directly attributed to particular headings
they have been allocated on a basis consistent with the use of ￿Ur￿5, with c¢ntral stsff costs allocated on the
basis of timc spenL and deprecia¢ion chwges allocated on the portion of the oss¢t's use. Other sUpp￿t costs are
alloca*d based on th¢ spread of sthff cos
These arc costs incurred in attractiti8 voluntsry io¢om4 the manag￿1 of inveslm¢nts and those iD¢utted in
trading activilies that rnise fiMMIs.
Chan¢able acilvlrfes
Charitsble expendiiure comprises ihose costs i￿u[red by thc charity in thc delivery of its ￿tivitieS and serviccs for
its beneficiaries. It includcs both wsts thai can be all(xated dir￿tlY to such a¢tivities and thosc costs of an indirect
nature necessary to support them.
Support tosls
Support costs include central functions and have been allocaied to xtivity ¢OSt ¢atcgorics i)n a basis consistent with
the use of resour¢¢s. for example. alknalin8 property costs by floor are4 or per Capi￿ stsff costs by the time spent
and other costs by their wage.
Governance Costs
These include the costs attril)uthblc to the Chariry's compliance with conslitutional and statutory requiTem¢nts.
includin8 audil stralegic wement and tTUSte¢s rncctin8s and reimbursed expens¢s.
Govtrnment grAnts
Government wants are rccognised ba￿d on the ac¢Nal model and are m¢asurd at the fair value of the asse¢
received or receivablc. Grants arc ¢lassified as relating ¢ither to revcnue or to ￿Cts. Grnnts relating to Tevenue are
recobvnis¢d in income over the period in which the related costs are rcco8nised. Grants relating to Lwls arc
reeo8nised over thc cxpe¢ied useful life of the asset. Where pirt of a ￿nI relating ts) an assct is deferred. it is
recognised as deferred income.
Taxaidon
The charity is ¢onsidcTed io p&ss the tests set out in Parngraph I S¢tr￿d￿le 6 of the Finance Act 2010 and therefore it
meets the definition of a charitable cornpany for UK Corporation tsx p￿r￿SeS. Accordingly. the Charity is potentially
exempt from taxation in respect of incorne or capital gains rcceived within categoriu covered by Chapter 3 Part I I
of the Corp)ration Tax Act 2010 or Section 256 of the Taxation of Chargeable GJITLS Act 1992. to the extent that
such income or gains are applicd exclusively to charitable purposes.
Tgnglble flxed awts
Individu81 fixed ass¢ts costin8 £1￿ or more are initially recorded * cosL less any subsequent ￿C￿mUlated
d¢pr¢ciation and subsequent accumulalcd impaim]ent losses.
Pagc 20

Parchment Trust
Notes to the Financlal Statements for tbe Yelr Ended 31 July 2024
DeprttiatioD and ankOrtIs2doD
Depreciation 15 providcd on tsngible fixed &8sets so as to write off the cost or valuation, less any estimated residual
value. over their expected useful economic life as follows:
Ass¢t cl
Land and buildings
Fixtures and fittings
Moior Vehicles
Depre¢lgtlon D*thod and rnte
Buildings straight line over 5 to 50 years
20% to 25/0 reducing balance
25% Teducing balance
Trade debtors
Trade debtOTS are amounts due from ¢uslomet5 for Me￿1￿ 501d or scrvi¢es Frfornied in the ordinary course of
business.
Tradc debiors arc r¢cognised initially at the traThclion price. They ate subsequently measured al an￿rtiSed cost
using the eIT￿liVe inlerest methrf less provision for impairnwiL A provision for the impa1m￿llt of trnde debiors is
established when there is objectiv¢ ¢viden¢e that the clkarity will not be 8ble ￿ ¢ollect all amounts due accordin8 to
the original tern￿ of thc receivables.
C￿h 2nd cash equlvalents
Cash and Cash equivalents comprise cash on hand and call deposits, and other short4erni highly liquid investments
tt￿t are readily convertible to a know) amount of and are subject lo an insi￿lf1¢0￿l risk of chang¢ in value.
Trade creditors
Trade creditors are obligations to pay for goods or services thai have been acquired in the otdingry course of
business from supplier& Accounts payable are classified as current liabilities if the charity does not have an
unconditional righL at thc end of th¢ reporting perio￿ to defer settlement of the creditor for at least ￿e1Ve months
after the reporting date. If there is an unconditional right to defer settlement for at least tw¢lve months after the
reporting date. they a￿ presented &8 non-current liabilities.
Borrowings
Interest-bearing borrowin8s are initially recoTded at fair valu& net of transaction costs. Interest-bearing IM)rrowin8S
a￿ subsequenily catried at amortised ¢osL with the difference behveeD the Pr￿ced￿ Det of transaction costs, and the
amount due on redemption being tecognised as a charge ￿ the Statement of Financial Activiiies over the period of
thc rclevani borrowing.
IntCTeSt expensc is recognised on ihc basis of th¢ effective interesi method and is included in interest pyable and
similar charges.
Borrowings are classified as curreni liabilities Unl￿ the charity has an uncoThlitional right to defer settlement of the
liabiliiy for al ie&st twelve months aftcr the reporting da
Page 21

Parehment Trust
Notes to the Flnanclal Statements for the Year Ended 31 July 2024
Fund structure
Unre5tric*d income fimds 8re general funds thal are available for use At the trustees discretion in thrthernncc of the
obje¢lives of the charity.
Restricl¢d incom¢ funds arc IhosL donalcd for usc in a particular area or for Specific purposes, the of which is
restricted to ihat area or PUTPOS¢.
Penslons and other post retlr¢mcnt obllg*tlons
The charity operates a defined contribution pension scheme which is a pension plan under which fixed Contributions
are paid into a pension fund and thc charity h8s no legal or constTUCtive obligation lo pay further contributions even
if the fund does not hold sutyicienl assets to pay all employees the benefits relating lo ¢rnployee service in the
current and prior periods.
Contribulions lo defined contribution plans are rccogniscd in the Statement of Financial Activitics whcn they arc
due. If contribution paymenis exceed the contribution due for service, lh¢ excess is recognised as a prepayment.
Flnanclal Instruments
Cl4sslfi¢4rfon
Financial asscls and fu￿nCIlI li8bilities ar¢ r¢¢ogniscd whcn the Charity b¢wmes 8 party to the ¢ontraclual
provisions of the insttwment.
Finonci81 liabilities and ¢quily insinunents are ¢l&ssified according lo the subslance of the ¢onlrnctual arrangemen
entered into. An equity iTh4trumcnt is any contract that evidences a Tesidual interesl in the assets of the chariry after
dedu¢ting all of its liabiliti¢s.
Recogniilon and measurement
All financial ass¢ts and liabilities orc inilially measured at transaction pricc (including transa￿lon costs), exccpt for
Ihose finuncial assets classified as at fair value through profil or loss. which are inittally measured at fair value
(which is nornially the trdnsaction price cxcluding transaction costs), unless the 8rrangem¢nt constitutes o finaneing
transaction. If an arrnn8ement constitutes a financin8 tr￿n￿CtIOn. the financial &8sel or financial liability is measured
at the prcscnt valuc of the future payments discounted al a market rat¢ of in¢eresi for a similar debt instrum¢nt.
Financial asscts and liabiliti¢s are only offset in the statcmenl of financial p051tion when, and only when thcre ¢xisls
a legally enforceable right to set off the re¢ognised amounts and ihc charity intends either to settle on a net basis. or
to realis¢ the ossel and setile the liabilily simultaneously.
Finan¢ial assels are derecognised when and only when a) the contraciual rights to Ihc cash flows from the financial
asset expire or are settlcd, b) the charity tTansfers 10 another party substantially all of Ihe risk5 and rewards of
oN￿¢r$hIp of the financial asset, or c) Ihe charily. despite having retsined some. but nol oll, significani risks and
rewards of 0￿ershiP, has transferred control of the asset to another party.
Financial liabilities ar¢ dcreco8nis¢d only when the obligation specified in the contract is discharged, cancell¢d or
cxpircs.
Pagc 22

Parcbment Trust
Notes to the Flnancial Statements for the Year Ended 31 July 2024
3 Income from donatlons and Iyeles
Unrestri¢¢ed
fuDds
Genernl
Restrlrted
fund$
Total
2024
Total
2023
Donations and le8acics;
Donations from companies, trusts and
similar proceeds
DonaLions from individuals
525,(J)O
50
525,000
14.895
14.845
14,967
14.845
525.050
539.895
14,967
4 In¢ome from charltabk aetlvltles
UDreslrlrt¢d
fund$
Genernl
Tot
2024
Total
2023
Occupational and day care services
Sale of goods
3,661.165
85.490
3,661,165
85.490
2,943.499
79.726
3.023,225
3,746.655
3.746.655
5 Investment Income
Unrestrleled
fundy
General
Total
2024
Total
2023
Interest receivable and similar in¢om¢:
Interest receivable on bank deposits
13.586
13,586
5,136
Page 23

Parchment Trust
Notes to the Financial Statements for the Year Ended 31 July 2024
6 Expendlture on charit4ble 2Ctivitles
Unrestricted
funds
Gencr81
Re$trieted
fuods
Total
2024
Total
2023
Note
Occupational and day
care services
Depreciation.
amortisation and other
similar costs
Staff Costs
Govemance costs
856.682
50
856,7J2
569.733
172.433
2,573,249
19,871
3,622235
33,469
205,902
2.573,249
19.871
123,589
2.166.855
12.308
33,519
3.655,754
2.872,485
7 Analysls of governance and support eosts
Governanee eostg
Unrestrleted
funds
Generfdl
Total
2024
Total
2023
Staff costs
Other stsftcosts
Audit fees
Audit of the financial stsiement5
Other fees paid to audilors
Other governance costs
7,700
7.700
2.400
7,480
4.592
99
7.480
4592
99
8,320
1,380
208
19.871
19.871
12,308
8 Net Incomin￿0utg0Irtg resources
Net incoming r¢source5 for the year include:
2024
2023
Audit fees
(Profil)ILoss on disposal of fixed assets held for the charity's ovm use
Depre¢iation of fixed asscls
7,480
2.236
203.666
8J20
(4,628)
128.217
Page 24

Parchment Trust
Notes to the Flnaneial Statements for the Year Ended 31 July 2024
9 Trustees remunerAtlon and ¢xpenscs
No trustees, nor any persons connected with have rec¢ived Any remuneFation from the charity during the year.
No trustecs have received any reimburscd expenses or any other benefits from the ¢harity during the year.
io stsff costs
The aggregate payroll costs were as follows:
2024
2023
StalT¢o$ts durlng the ye&r were:
Wages and salaries
Social security Costs
Pension costs
Other staff costs
2J57,012
173.137
43.100
7.700
1,987,455
144,804
34,596
2,400
2,169.255
2.580.949
The monthly avernge number of persons (including senior managemeni I leadership team) employed by th¢ charity
during the year expressed as full iirne equivalents was a8 follows:
2024
2023
O¢cupalioDal and day¢ar¢ services
Administration and support
127
130
No employee received emoluments of mor¢ than £60.000 during the year.
The totsl employe¢ benefits of the key management personnel of the charity were £77,581 (2023 - £67,099).
I l Taxation
The clwity is a registered chaTity and is therefore exempt from Cory)oraiion Tax.
Page 25

Parchment Trust
Notes to the Flngnclal Statements for the Year Ended 31 July 2024
12 Tan8lble fixed assets
Land rdnd
buildlngs
Furnlture and
equlpmenl
Motor vehlcley
TotAI
C05t
At l Au8USt 2023
Additions
Disposals
1.206,623
535,808
236,706
32.913
770,247
114,042
29.490
2.213,576
682.763
29,490
At 31 July 2024
,742,431
269.619
854,799
2,866 849
DepreclAdon
Al l Augusl 2023
Charye for th¢ ycar
Eliminated on disposals
Al 31 July 2024
243,038
64.937
158,249
21,008
300,057
117,721
701,344
203,666
307 975
179257
410000
897.232
Net book value
Al 31 July 2024
At 31 July 2023
Parchment Trust have this year acquired a new sitc (The Bridge) valued 8t £525,000 which has b¢en capitalised and
15 therefore shown within Fixed assets: Land and buildings on the Balance Sheet. The Bridge was acquired for no
consideration and th¢refore is treated as a donated asset. However, it should be noted that the value of the Asset may
not be recoverable by Parchment TTUSI due to the covenants for strict community use attached to the site de¢d.
which would be passed onto any fvlure owmcr. Furthermor¢, undcr thc d¢cd. should Pawhment Trust ever wish to
dispose of this asset, they must first offer the site back to East Sussex County CouDCiI.
1,434.456
90.362
444,799
1.969.617
963,385
78.457
470 190
.512,232
13 Debtors
2024
2023
Trad¢ debtors
Prepayments
Ac¢rued income
Other debtor8
171.687
39,228
124,317
2,516
180,456
29.926
102,364
2,415
315.161
337,748
Pag¢ 26

Parchment Trust
Notes to the Financlal Statements for the Year EDded 31 July 2024
14 Credltors: amounts falllng due wlthln one yeAr
2024
2023
Bank loans
Trnde crcditors
Hire purclwe and finan¢c Ica5CS
Other tsxation and social s¢curiry
Other creditors
Accruals
Deferred income
9,279
18,153
73,926
38.820
10,672
17,139
8,705
11.887
80.368
30,489
8.584
12,160
143
167.989
152.336
15 Cr¢dl¢ors: amounts fqlllng dyo After one ye#r
2024
2023
Bank loans
Hire purchase and finance l¢ase5
116,472
44.116
95,873
118,043
213,916
130,588
Iniludcd in the ¢rcdilors arc the following amounts du¢ After more than fiv¢ years..
2024
2023
After more than five years by instslmenls
42,175
Bank loans
The loan is secured by a firsi fixed legal charge with fvll ￿arantee over the freehold interest in the property; Ore
Place Farni. Th¢108n 15 a fvll rep8yment loan over 25 years from August 2007 at a rate of 6.50A interest.
Interest and charges on th¢ loan cxpenscd in the y¢&r was £6,558 {2023 - £7,095).
Page 27

Parcbment Trust
Notes to the Financial Ststements for the Year Ended 31 Juty 2024
16 ObllgAtlotts under leases 2nd hlre purtlwt contrgets
Operatlng lease commitments
Total future minimum lease payments under no1￿¢¢11#b]e operdting lease5 are as follows:
2024
2023
Land and buildlAgs
Within one year
Belwe¢n one and five years
41.000
146,917
11.457
187,917
11.457
The le￿ was agreed as 8 5 year lease begining on 6th Febnwy 2024. Total operdting Icasc payments expensed in
the year We￿ £39517 {2023 - £33.240).
17 PensloD and other sehemes
Dellned ¢ODtrlbution pension scheme
The charily operntes a defined contribu(ion pension schem& Th¢ pension cost charge for the year represents
contributions payable by the charity to the schemc and amounted to £43.100 (2023 - £34.596).
18 Commitments
Other financial conunitwnts
Phone Equipment
The Charity had entered into 2 5 year non-can¢ellable hire lea5¢ eommilmcnt for phone equipment at a rate of £87
per rnonth from May 2020.
Prinler
The Charity had en*Td into a 5 year nonve￿Ilable hire le￿ conuniiment for phone equipment at a rale of £101
per rnonth from Octob¢r 2020.
The Charity had eniered into a 5 year nonwcwllable hire le￿ ￿1)mi￿nent for phone equipment ai a rnte of
£84.60 per rnonth from Scptcmber 2021.
Page 28

Parchment Trnst
Notes to the Financlal Ststements for the Year Ended 31 July 2024
19 Funds
Ba12nce at I
August 2023
In¢omlng
resourc
Balanee at JI
July 2024
expended
Unre$trlcted funds
Genernl
General fund
1.463.694
3,775,086
(3,622235)
1,616,545
Re5tr1eted funds
Acquisition fund
New trailer
SEIF Project
Foreshore Tn￿t granl
BIFFA grnnt- Timber sheds
Theaklen drive kitchen
Shaded area (FG)
OuLside work
Woodworking equipment
The Friory- Till
The Percy Bilton Charity - Supported
¢mployThenl project
Mctal Detector fimd
The Brid8C
149.041
16
318,299
234
6,807
500
J53
(7.083)
141.958
16
300.155
216
{18,144)
(18)
(6.807)
500
283
3.000
500
(70)
500
3.212
(1,168)
3,210
(179)
(so)
3,031
50
525.000
525.000
Total r¢sirl¢ted fuDds
485.172
525,050
{33.519
976,703
Total funds
1.948.866
4.300,136
3.655.754
2,593,248
Page 29

Parebment Trust
Notes to the Financlal Statements for the Year Ended 31 July 2024
Balance at I
Augu$t 2022
Incomlng
re50ur¢es
Resourtes
exptnded
Balanee at
31 July 2023
Transfers
Uorestrkted funds
GeneMI
General fiuMI
.280.661
3.042.090
(1859.(K15)
(52)
1.463.694
Restricted
A¢quisilion fund
New trailer
SEIF Project
Foreshore Tnsl 8n￿l
BIFFA grant - Timber sheds
Theeklen drive kitchen
Shaded area (FG)
An81ing Trusl
Outside work
Woodworking equipment
The Friary - Till
The Percy Billon Charity -
Supportcd employment PTOjC¢i
Total reslrlcted fundi
151J35
16
326,(￿1
258
7.563
500
(2.294)
149.041
16
318.299
234
6,807
500
353
(7.702)
(24)
(756)
(88)
(1.290)
1,238
52
3,000
500
3212
500
4J80
(1.168)
3.368
3.210
497,362
1238
{13.480)
52
485,172
Total funds
1,778,023
3,043 J28
2,872,485)
1,948.866
Pag¢ 30

Parehment Trust
Notes to the Financlal Statements for the Year Ended 31 July 2024
The specific puryoses for which the funds we ￿ be applied are as follows:
Purposes of Testrithed funds:
The putw of the individual funds is gencrnlly shown by their titl&s. Those fimds used to purcha5c fixed assets
have the deprecialion Charged on those assets in the year all￿a￿d to the unlil il is fully utilised.
The Aquisition Fund's purpose was io buy the freehold ￿ Ore Place Farni at i co# of approximatly £190.000, the
only movcmcnt in this fiwid now is (kprcciation and the vaulation of the bridge re*builL
The SEIF project fund ¢omprisc$ a grant from SEIF towards the CO￿ of restorin8 and convertin8 previously
unusable parts of the charity's buildings al Ore Place ￿ bxome addiliornl fa¢ililies for we in the charity's work.
The Foreshore Trust grnnt WLS receiv￿1 to fvnd the purchase of IT equipmenL
The BIFFA grant was r¢ceived to ￿nd the purchw effction of two timber sheds at Friary Gardens.
The Bridgc is a new siie that was effectively doMt¢d to Parchment Tn￿( however there are covenants for Stri¢t
communily use allllLhed w Ihe siie deed. which would b¢ passed onto any future 0￿er. Furthennor¢, under the
deed. should Parchment Trus¢ ever wish ¢0 dispose of this asseL they must first offer ¢h¢ sitc back to East Sussex
County Council.
Page31

Parehment Trnst
Notes to the Financlal Statements for the Year Ended 31 July 2024
20 Analysis of nel assets between funds
Tot*1 fuDd$ at
31 July
2024
funds
GeoerAI
Restrfcted
funds
Tart￿￿[¢ fixed assets
Cutrent assets
Current liabilities
Creditors over l year
996,914
918.208
(167.989)
{130J88)
1.616.545
972.703
1,969,617
922.208
(167.989)
(130,588
2.593.248
976.703
Total rKt assets
UDrestri¢ted
fund$
General
Total funds at
31 July
2023
Restricted
funds
Tangible fixed assets
Curr¢nt assets
Current liabilities
Credilots over l y¢ar
Total net assets
1.031.060
781236
(134.686)
(213.916)
1.463.694
481,172
21.650
{17,650)
1,512.232
802.886
(152,336)
(213,916)
1.948,866
485.172
21 Analys1$ of net funds
At l August
2023
FlnaDclng cash
flows
At31 July
2024
Cash ai bank 4nd in hand
Finance leases and hire purchas¢ contracts
Net debt
487.725
(198.411)
289.314
96,735
80.369
584,460
{118,042)
466,418
At 31 July
2023
177,104
Al l August
2022
in#nclng cjsh
flows
Cash at bank and in hand
Finance leases and hite purch￿ contracts
Net debi
529,241
(44.695)
484.546
(41.516)
{153.716)
(195.232)
487.725
(198.411)
289.314
Page 32