Company registration number= 04055940 Charity registration number.. 1082938 Wings South West IA company limSted by guarantee} Annual Report and Financial Statements for the Year Ended 31 Augus12025 WESTCOTTS CMARfEPED ACCOUMTAIIT & 8ugir4Éts$ ADVISER
Wings South West Contents Reference and Admlnlslrative Details Tiustee8' Report 2108 IndeperKlent Examinerfs Report ststement of Finanryal Activities 10 Balance Sheet 11 Note8 to the FinaneAal Statements 12to23
Wlngs South West Reference and Admlnistrative Details Charity Registration Number 1082938 Company Registration Number 04055940 Registered Office Bowood House Abbolsham Bideford Devon EX39 SAX Tru5te•s: Mr D G Archer Mrs A C Bowser Dr S J Ley- Chair of Trustees Mrs R Lynch lappolnled 16 September 20241 Mrs V A Reason Ire3igned 9 December 20241 Mr l J Rogers Mrs J SavAe Iresigned 19 May 2025} Founder, CEO & Director Dr P A Bowser Founder & Secretary Mrs A C Bowser Bankers Lloyds Bank PIC 5 High Street Bideford Devon EX39 2AD Barclays 38 Boulport Street Barnstaple Devon EX31 1HH Weslcotts ISW) LLP 47 Boutport Street 8arnslaple Devon EX31 1SQ Seldons LLP 18 The Quay Bideford Devon EX39 2HF Independent Examiner Solicitors: Page 1
Wings South West Trustees. Report The trustees, who are dlreotors for the purposes of company law, present the annual rewrt together wSth the finanaal statements of the charitable company for the year ended 31 August 2025. Struclure, govemanc• and management Nature ofgovernlng document Wings South West is a company limited by guarantee, governed by its Memorandum 8nd Artloles of Association and is also registered with the Charily Commission. Wlngs Soulh West is established for all such purpose5 as are recL%Jnised as charitable by English Law and which are covered by the Memorandum and Articles of Association. Recrultment and appolntment of trustees Trustees 8re selected on the basis of their interest in helpin9 people lo have a future and a hope, particularfy those who are disadvantaged sooially, academi¢ally, or by family arwmstances. Trustees should be able lo work wthin the charilrfs objectives and 9ctivities and should complement existing Trustees whh relevant experlse and time. Inductlon and training of trn$t•es Th2 continuing support lor training and development of Trustees is always under vIew. New Trustees who are elocted by the board ol Trustees, are recruiled through volunteering, introduction or by largeling specific relevant experien¢e. They are given support and introduced lo the Charity in a number ol ways, dependent upon their previous experience and any prior involvement with the Charity. Both induction and ongoing developrnenl may include reference to the many resources available from the Charfty Commission, lime spent wth the staff, menlorlng and external training. Objectives and activities ObJe¢ts and aims The main objectives of the Charf(y are lo help allevkate poverty and distress, lo offer education and learning in a wde context and lo deliver recreational opportunities particularly lor disadvantaged people. In specific contexts le.g. churches, assemblie$) a further objective is to help explore aspects of the Christian faith. Objectlves, strategles and activities The main activities in relation to the objectives aTe'. The development and running of a community centre Ilhe Wings Hall) in the middle of Bideford that also offers schools work with pupils who are disengaged and a disability group. and.. Offering practical work-based projects Imolor rnechanScs, conservation. iJ)nstru¢tion, sports. outdoor pursuits and mullimedial and training wth young people who are NE (Not in Employment, Education or Trainingl, adults who face difficulties, and at College, all al a second site on the outskirts of Bideford. Page 2
Wlngs South West Trustees. Report Risk Management The Trustees of Wings South West I'wings'l are responsible for idenlityng and directing the potential major risks associated with safeguarding, GDPR, finances. iecruilment and redundancies and all policies under which the Charity operates. Day to day risk management devolves to the Management Team who is responsible for ensuring risk assessments a carried out for all activities and in implementing the slralegi¢ direction set by the Tnjstees. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Inlern81 control risks are minimised by the implementation of procedure8 lor aulhorisalion of all transactions and projects. Procedures are in place to ensure compliance with safeguarding and health and safety of staff, volunteers. participants and visitors lo both centre or off.site aclivities. All pro¢edures and policies are reviewed either annually or every three years to enwjre Wings continues to meet the needs of benefiaaries and the requirement of the Charity Commisslon. Publ1¢ beneflt The Trustees consider that the objectives of the Charity, a5 Staled earfier, comply wlh the Charities and Public Benefit.. Summary Guldance for Charity TTUStees (Charities Act 20111. The Trustees also unanimously agree that the requirements for due regard to the Publie Benefit guidance has been satisfied. The overall aim of Wings is lo give people a future and a hope by encouraging Positive relationships and offering creative learning opportunities that help develop skills, self-esteem and confidence. The Public Benefit from Wings Is that it largely WOTks with disadvantaged young people who are struggllng at sch¢x)I, not in employment, education Dr training. young offendets lor al risk of offending}, those who have learning disabilities and adults experiencing difficulties. Wings listens lo the needs of all those we work wlch, evaluates what Inlervenbons are most likely lo work, puls in place ielevant ptIve activities and services and then measures the effect of these on their development and deslinalions. Achlevèments and Performance Report to Be Included In the Ac¢ounts to end August 2025 Northern Devon (North Devon and Torridgel is one of the largest and most deprived rnral areas in the UK. The prospect for economic and social slability, or even growth. for the vast majority of the populatKJn continues lo be unlikely, particularly in the light of ongoing economic issues and the cost of living crisis Torridge in particular suffers as thks district has one of the lowest average household incomes and one of the lowest GDPS in the UK. It Is also a frustrating anomaly that the deprivation indices are calculated by also taking into account the positive nature of the environment we live in. Although all who live here are grateful for the beauty around us. il can defled from the financi81 reality that for many poverty remains a blight. The rrTajorily of people Wings works with ale facing considerable generational difficulties including rural depiwation, family breakdown and household pressures, a lack of employment or training opportunles. a swial environment that pushes InCasing numbers into a poverty trap with con¢omilant risks of offending and mental health issues, a marginalisation of those with learning, physical or behavioural difficulties and disabilitles, and for those who are under 18. an educzts'on system that does not'fil. every pupil. General Page 3
Wlngs South West Trustees. Report As Wings moves beyond Sls twenty fifth year of operating il is interesting lo reflect on the many ups and downs ol forming and running a charity over a period that has included one of the worse financial orises in history, developing a major capilal projecl that fell al the last hurdle, a devastating pandemic and, most renI]y, a damaging cost of living cris13. Perhaps unsurprisingly the impact ol the pondemic is still being felt and seen in the Ilves of the children, young people, families and vulnerable adults who lived through it. but also on charTtles. induding those who gave, and continue lo give out grants. and those, like Wings that direolly deliver public benefit. Over the trNenty five years our totsl income has been Susl Over seven million pounds. We have consistendy employed an average ol ten people al any given lime and have had the privilege of working with thousands of children, young people and adult5.' seeing lives changed and giving many future and a hope. Over the past few years, and together with many charS1ie3 in the UK thai deliver vital Ironl-line serviGes, Wings has been facing the near 'perfecl slom, of trying lo deal with increasing needs (numbers and seveiityl., yet with a decreasing level of fin8n¢ial restsurce5. To help counter thls scenario we ¢J)ntinue lo maintain low overhead costs and are particulady grateful that we own one ol our centres and pay a peppercorn rent for the other lo The Portledge Estate. Although we had been diversifyng income streams away from our traditional grants route, particulady a partnership worklng, we have been pushed back into that avenue due lo both a financial crisis in education and struggles in the local aulhor5ty in supporting ¢hildren with Special Education Needs and Disabilitie5 ISENDI. Since 2018 Wiws has been intentionally and strategically stepping into education, especially working with those children who are struggling al school or marginalised by the learning environment they are in. For the last eight years we have been suwessfully working with Pelroc in one of their sub-contracted post 16 initiatives, specifillY with students who would not cope in a large College. We are incredibly grateful lo the Pelroc slaff for their support and encouragement in this partnership and the measurable qualifications and life-skill benefrts it has brought lo so many young people. However, we are currendy in the middle of 8 major change in Wings with. very sadly, the can¢ellalion of our contract with Pelroc (now called North Devon College - NDCI. During 2025 Pelroc and Exeter College began to explore a potential merger which has now been finalised. Although Pelroc had ttvo long-lerm $ubconlia¢ts one with the NHS and one wlh Wings. Exeter Cdlege had none. The resu is Ihal our contract ¥Mlh NDC will leminale on the 31st July 2026. though we had already stsrted to look al the Wings Co15ege perhaps becoming independent over the next few years this external decision has rapidly brought forward the limelable. We are very graleftjl lo otjr consultant ThAark Wrangles (Close the Gaps) who we started working wth just under a year ago. Mark has helped lead the Wings, staff and Trustees through the various processes around becoming an Alternative Provider for post 16 children. Working closely with the Devon County Counc41 Education Team we are looknng lo, hopefully, start the new initiative in SeptembeT 2026. We understand the business drivers behind the types of decisK)ns being made by schools and colleges. bul the nel result for families wlh children struggling in main stream pre and post 16 education 15 disastrous. The type of options being mooted for this now very significant cohort are unlikety to be viable in the long term and at best serve lo postpone any meaningful engagemenl with those most vulnerable in society. Sharnefully, more and more will be pushed into a lifetime of low achievement and worklessness las recenuy highliyhled in Ajan Milburn's report on those who are not in employrnent. education or training - NEETI unless drfferent approaches are sought, none of which are rocket scienL*. Page 4
Wings South West Trustees, Report What we desperately need are Visionaries and wise and passionate Policy Holders who are Seeking the best inleresls of every child. not just those who are academically capable. Funding for Alternative Provision is needed for groups to work alongside local aulhorilies, schools and Colleges al a lime when the knee-jerk Teaclion is lo pull up the formal education drawbrldge and iry and bring everything in house. Long and short-lerm history says il will not WOTk During 2022 we stsrted a dialo9ue with Devon County Council about becoming an allernalive prOVer for pre 16 children.. first Completing and achieving Quality Assurance approval. Although the Wings Academy continues and we have been aepted onto the local authorily framework the referrals have been patchy although when students join, the results are very positive. The Academy has the same characterisllcs as the Wings College induding operating a relational model of working alongside individuals via practical activities and in group settings, valuing them in what they do and who they are. giving them a future and a hope and, finally. hdping them build resillence. Over the past lew years we have been saddened by the increasing needs we are seeing in the chiwien and yDung people we engage with at the College and the Academy, parti¢ulady in the aa ol worsening mentsl health including very high levels of anxiety. The pressure on parents lo take their ¢hild out of school and moving thern 'off-roll' is still there and ¢onlinues lo create what have come lo be known as 'ghost ¢hildren', as to all educational inlenls and purposes they no longer exist. It is a national scandal in the making. Hlslorically, Wings has been a youlh-based organisalion. Wihough children and young people main Dre focus, particularly with those aged 11 10 25 and around leaming and education. sln¢e the pandemic we have not re-opened our youth work. After twelve months of o)nsideration this 15 now changing and we have employed an experien council youth worker from the South East lo help move the initiative forward and create a new Youth Hub. As we look for more substantial longer temi funding from various ch8rities we are extremely grateful to the Northbrook Trust for the seed corn funding to enable the Hub to start on tsyo days per week. Our work with indlviduals wth learning and physi¢al disabilities (the Unity Community) has continued lo develop and we have now reached pre-pandemic levels and beyond. wlh a Second day now njnning every week. Being there is a total joy and the way they support each other is amaing. We remain concemed about how to help laCe the Concomitant mental hèahh issues of anxiety and depression la by many individuals wllh disabilities as this Is often not understood, and certainly under-reported, partially due to a focus on their primary condition. However, research from others, and our own observations. suggests that their primary disabllilies are a 'nom' for them and r( is anxiety and depression Ihat signifiCanY affects their quality of life. Cenhs The WirvJs Hall remains central to a number of acb'vities although up un111 now and Sin the pandemic, il has not been widely open lo groups. apart from Unity and Ihe Ukrainian Hub. Vvith the advent of the Youth Hub the Hall will be filled again with children and young people seeking and finding a place of safety and fvn. The Ukrainian Hub was Set up in May 2021 wth the support of The Flckwell Foundation and Torridge District Council as a place lo meet for families who moved to the area to escape their worn-tom country. We, and all those who attend the Hub are so thankful for the ongoing invaluable financial support that Torridge Dislrict Coun1 continues to give. Page 5
Wings South West Trustees. Report The second Wings centre (Lendon Barn) al Abbotsham, on the outskirts ol Bideford, is the principal base for the majority of courses to help those who are struggling at school. These indude functional skllls leg English, Maths) leaching plus piaclical initiatives such as motor mechanics. conservali(y), onstruclion. sports, fitness and multimedia. It is the home of the Wings College Ipost-161, and, for vo days in the week, ihe Wings Academy Ipre-161. Support As to the future of ils current and potentlal activllies. WSngs is very fortunate lo have a ryofessional and passionate staff team who are well supported by excellent Trustees. volunteers and other organisalions that are seeklng to help disadvantaged children, young people and adults reach their full potential. The importance of volunteers to WiNJs has always been highlighted since the charity was first formed almost 25 years ago, and we wish lo express our gratitude lo them again this year. As well as individuals, we are indebted again thi5 year to many organisations and charities for financial support in¢luding the Barry and Peggy High Foundation and many local schools and colleges especially Highgale Hill House, Martand and Pelroc. Without their support and the confidence they show in Wings we would have achieved nothing. Dr PA Bowser April 2026 Financial review During the year the Charity has 8chieved lotsl incoming resources of £368,013 12024.. £330.5741 of vthich £90,432 12024.. £96,177) Telated to re5tiicted funds. The total reSoUrS expended lor the year was £315,985 12024: £331,540) which resulted in nel inooming resources of £52.028 12024: net expenditure of £9661. Total funds al the year end stootj at £621.57212024-. £569,544) wlh £45,9DO12024: £23,000) related to restricted funds and £575,67212024.. £546,544} shown as unrestricted funds. Policy on reserves The Trustees continue to set a reserves policy that reflect8 the best interests of the Charity and its beneficiaries. Trustees regularly monllor reserve level8 lo ensure effectiveness of the policy in the light of changing risks. The Charity aims to hold six months operating reseNes, whth now equates lo around £160.OOQ Icurreniiy holding £126,000). When reviewing unrestricted funds. the Trustees remove funds held a5 tangible fixed assets from consideration as il is not deemed lo be readily available funds. The tots5 of free feserves, as at 31 August 2025 was £287.802 {2024'. £249.3741. Page 6
Wlngs South West Trustees, Report Plan5 for future periods With Ihe current invaluable WOTk of Wings wilh thildren, young people and adults. and the financial pressures created by the pandemic and the ongoing economic diffi¢ullies there is a little doubl it is a time ol considerable transition for the Charty. In order to survive. and even grow, there are six key areas Wings is focusing on. and investing in, namely, Listening lo, identifying and acting on the growing needs of chlldren. young people and adults. particularfy where there is di8advantage Identifyng local schools and other organisallons where joint iniknatives would be of value in benefiting children young people • Helping lo falitate community engagement in addressing local Issues incltjdiny unemployment and lack ol occupati)n Bid writing and building partnerships with existing and new charities with whom Wings share similar objectives Ccx)rdinating support from local, national and international companies and Chae5 Having robust Financial Systems and Govemance reviews Statement of trustees. responsibilities The trustees (who are also the directors of Wings South Wesl for the purFJoses of company law} are responsible for preparing the Iruslees. report and the fingnaal ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance wth the provisions in ihe Companies Act 2006 relating lo small companBs. Company law requires the Iruslees to prepare financial statements for each financlal year. Under company law the trustees must not approve the financial ststemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the inming resources and application of restsurces. including its income and expenditure, of the charitable company for that period. In preparing these finanagl stalemenls, the trustees are required to.. sele¢t suitable accounting policles and apply thern consislenlly., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and Pfudenl., state whether applicable accounting standard5, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial slalements; and prepare the financial statements on the going concem basis unless il Is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose wth reasonable accuracy al any time the financial position of the charrtable company and enable them to ensure that the financial 51atemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 7
Wings South West Trustees. Report The trustees are responble for tha maintenanee and Integrity of the corporate and financial inform8tlon included thè chantsble o)mp8nrfs websitè. Legislatson goveming the prep8ralion and 1mInat[On of flnandal statements may differfrorn leglslatbn In otherlurlsdlthons. Small companle5 prov151on statemont Thls rert has b88n prépared in accordance with Ihe smal cornpanies regime under Ihè Companies Dr P A Bowsèr Chlef Execullve Offker The annu81 r8POrt was approwd by the trustses of the charity on 19 MBY 2026 and s•3ned on its behalf ty. DrSJLey-C Trustsos Pag$ 8
Wlngs South West Independent Examinerfs Report to the trustees of Wings South West ('the Company.) I report lo the charty tnjstees on my examination of the acLounts of the Company for the year ended 31 August 2025. Responsibilitigs and basls of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responslble for the preparation of the accounts in accA)rdance the requirements of the Companies Act 20061'lhe 2006 A¢t'l. Having salislied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charily's accounts as carried oul under section 145 01 the Charities Act 2D11 {'the 2011 A¢t'l. In carrying out my examination I have followed the Directions glven by the Charity Commission under section 14515llbl of the 2011 Act. Indepèndent Èxamlher's statement Since the Companys gross income exeded £250,000 your examiner must be a member of a body listed in se¢Uon 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which Is one of the listed bodies. I have completed my examination. l ¢xnfim that no matters have come to my attention in connection th Ihe examinatyon giving me cause lo believe.. 1. accounting records were not kept in respeol of Wings South Wesl as required by section 386 of the 2006 AGI,, or 2. the accounts do nol accord wilh those records,. or 3. the accounts do not cornply with the accounting requirements of section 396 of the 2CQ6 A other than any requirement that the a¢¢ounls give a 'lrue and fair view which is not a matter considered as part ol an independent examination; or 4. the accounts have not been prepared in accordance with the methods and pnnaples of the Statement ol Recommended Practice for ac¢uJnting and reporting by charities lapplicable lo charities preparing their ac¢ounls In accordance with the Finan¢ial Reporting Stsndard applicable in the UK and Republie of Ireland IFRS 10211. I have no concems and have come acfOSS no other malters in ¢onneGtion wilh the examination to which attention should be d¥awn in this report in order lo enable a proper understanding of the accounts lo be reached. Catherine Williams FCA DChA Independent Examiner Westcotts ISWI LLP 47 Boutport Street Barnstaple Devon 31 1SQ Date-... Page 9
Wings South West Statement of Flnanclal Activlties for the Year Ended 31 August 2025 {Includlng Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2025 Total 2024 Note Income and Endowments from: Donations and legacies Other trading activities Investment income 8,696 264,224 4.661 90.432 99,128 264.224 4,661 101,549 227,270 1.755 Total income 277.581 90.432 368.013 330,574 Expenditur• on: Ch8ritable actimties 249.405 66,580} 1315.985) 1331,5401 1331.5401 Total expenditure Net in¢omellexpendf(urel Transfers belween fvnds 249,4051 166.580) (315.985) 28.176 952 23,852 9521 52,028 19661 Net movement in funds 29,128 22,900 52,028 19661 Reconeiliation of funds Total funds brought forwatd Total funds Carried fOard 17 546.544 23.000 569.544 570,510 575,672 45.900 621,572 569,544 l of the charty's actimties derive from continuing operations during the above periods. The funds breakdown for 2024 is shown in note 17. The note5 on pages 12 10 23 fomi an integral part of these financial statements. Page 10
Wlngs South Wast IRegistration number: 04055940) Balance Sheet as at 31 August 2025 2025 2024 Flxfjd ass T8ngible assets Current ass•ts 12 287,870 297,170 13 14 11,736 330,524 342,260 11,408 270,860 C8sh at bank and in hand 282,268 Crnditors: Amounts fa"Illng dup within on• year Net currgnt assets 15 (8,558 333,702 621,572 272.374 Net assets Funds of the charity". Restrlcted incorne funds Restiicted hjnds 45.900 23,OQO UnrestrfGted lft¢ome fund¥ Unrestrfcted fjJnds 575,672 621,572 548.$44 Tot¥1 funds 17 569.544 For the financlal year ending 31 Augusl 2D25 the charity was enlilled to exemption frorn audit under section 47T of the Companies Act 2006 Telatlng to smell wmpa)kg5. Directors. feSpcffIII1tss. The mèfflbws have nol req"Ired Ihè thatity to obiain an audit of Rs 'accounts for ts year ih quesoon in accordance wth 8ectlon 476; and The direclors acknowledge Iheir responstbi15tS for cLTrmplytrg wlth the requirements of the Act wmh respect to accounting records and the preparation of account$. Th9se finanrA31 statements hav8 been pr8p8red in WrA)rd88 ¥th the spgdal p1$ relatlro to mpanles subject to the smo11 wmpanies regime within Part 15 of the Companies Act 2006. Tha finano81 statements on pag85 10 to 23 wera spwoved by tha tNstees, and authIsed for issue on 19 May 2026 and slgned on their bohalf by. DrSJLey-Chairo Ctrkair of Trustees ruslees The note5 on wdgès 12 to 23 fom an Int8gral part ofthes8 financial stst¢ments. Page 11
Wlngs South West Note5 to the Financlal Statements for the Year Ended 31 August 2025 1 Charity Status The charity is limited by guarantee. incorporated in England and WJes, and conseqvenuy does not have share capital. Each of the trustees is liable to ¢Dnlribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Bowood House Abbotsham Bideford Devon EX39 SAX 2 AOUntIng poliGies Summary of significant a¢counting policies and key accounting estimates The prlncipal accounting polKies applied in the preparation of these financial statements are sel out below. These policies have been eonsistently applied lo all the years presented, unless othenKise stsled. Statement of compliance The finanaal slalements have been prepared in accordance with A¢counling and Reporting by Charities= Slalemenl ol Recommended Practice (applicable ID charities preparing their ac¢Dun15 In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in October 20191- Icharllies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basi5 of preparation Wings South West meets the definition of a public benefit enlty under FRS 102. Assets and Ilabililies are inllially recognised al historical cost or transaction value unless otheNise staled in the re5evant accounting policy notes. The flnancial slalemenls are prepared in sterfing whiich is the functional ¢urrenoy of the tharity. Going concern The Iruslees eA)nsider that there are no material uncertainties about the charitys ability lo continue as going concern nor any signthcant areas of uncertainty that affect the ¢arrwng value of asséts held by the Charity. In¢ome and endowments l income is recognised once the charlly has entitlement to the income. il is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 12
Wings South West Notes to the Financial Ststements for the Year Ended 31 August 2025 Donations and legacles Oonations are re¢ognlsed when the charity has been notified in writing of bolh the amount and settlement dale. In the event that a donatton is subject lo conditions that require a level of performance by the charity before the Charity is entitled lo the funds, the income is deferred and not re¢ognlsed until either those o)ndiliDns are lully met. or the fulfilmenl of those Conditions 15 0]lY within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grnnts receivable Grants are recognised the charity has an entltlement to the funds and any conditions linked to Ihe grants have been met. Where performance Ltjndilions are attached to the grant and are yel lo be mel, the income is e0gnIsed as a liability and induded on the balan sheet as deferred income to be released. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dNidend due. Expenditure All expenditure is recognised once there is a legal or construc11ve obligation lo that expenditure, it is probable settlement is required and the amount ¢an be measured reliably. A15 costs are allocated lo the applicable expenditure heading Ihal aggregate similar costs to that category. Where costs cannot be directly attribut to particLJlar headings they have been allocated on a basis consislenl wth the use ol resources, with central stsff costs allocated on the basis of time spent, and deprecration charges allo¢aled on the portion of the asset's use. Other support Costs are all¢)¢ated based on the spread of staff costs. Charitabl• actlvlties Charitable expenditure comprises those costs incurred by Ihe charity in the delivery of its activities and services fr>r its beneficiaries. It includes both costs that can be allocated directly lo suth acliwlies and those costs of an indirect nature necessary lo support them. Support costs Support costs include central functions and hav¢ been allocated to acllvity Cost calegorfes on a basis ¢onsislenl with the use of resources, for example, allocating propety costs by floor areas. or per capita, stsff costs by the lime spent other cost8 by their usage. Taxation The charity is considered lo pass the tests sel out In Paragraph 1 Sohedule 6 of the Finance Act 2010 and therefore it meets the definition of 8 charitable company for UK ¢orporation tax purposes. According, the charity is potentially exempt from taxation in respect of income or capital gains received wlhin categories covered by Chapter 3 Part 11 of the Corporation Tax A¢t 2010 or Section 256 of the Taxalion of Chargeable Gains Act 1992, to Ihe extent that such income or gains are applied exdusively to charitable purposes. Page 13
Wings South West Notes to the Financial Statements for the Year Ended 31 August 2025 Tangible fixed assets Individual fixed assets are initially recorded al cost. less any subsequent accumulated depreciation and subsequent accumulated impalrmenl Losses. Depreciation and amortisatlon Depreciation 1$ provided on tangible fixed assets $0 a5 to write off the cost or valuation, less any eslimaled residual value. over their expe¢led Ltseful economic life as follows.. Depreciatlon method and Tatè 1 % slraighl line 15% reducing balance 25°h reducing balance 200h reducing balance Asset class Land and buildings Computers Motor vehides Equipment Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquld investments that are ieadily convertible to a known amount Of cash and are subject lo an inslqnificanl risk of change in value. Fund structure Unrestricted income funds are general fvnds that are available for use al the Iruslees discretion in furtheTance of the objectives of the charity. Restricted income funds are those donated for use in a particular afea or for speafic purposes, the use ol which is restricted lo that area or purpose. Financial instruments Classification Financial assets and financial liabilTties are recognised vthen the charity beMeS a party to the conlraclual provisions of the instrument. Financial liabilities and equity instruments are cla$silied a¢wding to the substance of the conlraclual arrangements entered into. An equity instrument is any contr8¢1 that evidences a residual interest in the asse15 Of the charity alter deducting all of its liabillties. Page 14
Wlngs South West Notes to the Financial Statements for the Year Ended 31 August 2025 Recognltion and mèAsurement Al financial assets and Ilabililies are initially measured at transaction price lincluding tran5aclio stsl. except for those financial assets classified as at lair value Ihrouoh profll or loss, which are inllially measured at fair value Iwhi¢h is normally the transaction price exduding transaction Costs), unless the arrangement ¢onstilutes a financing trarisaction. If an arrangement conslilules a financing transaction the financial asset or financial liability is measured at the present value of the futu payments discounted at a market rale of Intere81 lor a similar debt instrument. FinanrAal assets and liabllilies are only offset in Ihe statement of finandal position when, and only when there exists a legally enlorceab1e right lo set off the recognised amounts and the ¢harity intends either lo settle on a nel basis. or to realise Ihe asset and sellle the liability simultaneously. Financial assets are dere¢ognised when and only when a} the contra¢tual rights to the cash flows from the financial asset explre or are settled, bl the charity transfers lo another party substantially all of the risks 4nd rewards of ownership of the financial as5el, or cl the charlty, despite having retained some, but not all. signifi¢anl risks and rewards of ownership, has transferr control of the asset lo another pariy. Financial liabilitie$ are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 3 Income from donations and legacies Unrestri¢tsd funds General Restrictgd funds Total 202S Donations irbcluding Gift 'd Grants received 7.696 1,000 8,696 Unrestricted funds General 7,696 91.432 99,128 90.432 90,432 Restricted funds Total 2024 DonalK)ns including Gift Aid Grants received 5.372 5,372 96,177 101,549 96,177 96.177 5,372 Page 15
Wlngs South West Notes to the Flnanclal Statements for the Year Ended 31 August 2025 4 Income from other trading activities Unrestricted funds General Total 2025 CouTses and adivilies Trax income Disability enabling Wings College (Petroc) Media Course income Other incorne Hire income 37,953 13,550 11,935 197,201 37.953 13,550 11,935 197.201 ]j 2,475 135 975 2.475 135 975 264.224 264,224 Unrestricted funds General Total 2024 Courses and activities Trax income Disability enabling Wings College (Pelrocl Media Course income Other income Hire income 40,070 7,631 10,589 166.954 965 61 1,000 227,270 40,070 7.631 10,589 166,954 965 61 1.000 227,270 S Investment income Unrestricted funds General Total 2025 Interest receivable on bank deposits 4.661 4.661 Unrestricled funds General Total 2024 Interest receivable on bank deposits 1,755 1,755 Page 16
Wings South West Notes to the Financlal Statements for the Year Ended 31 August 2025 6 Expenditure on charitable activities Unrèstrictsd funds General Restricted funds Total 202S Charitabk acliwties Ajlocaled support costs 245,818 3,587 66.580 312,398 3.587 249.405 66.580 315.985 Unrestricted funds General Restricted fund5 Total 2024 Charitablè aotivilies Alocated support costs 228,486 2,577 1 t)0,477 328,963 2.577 231,063 100,477 331,540 7 Analysis of support costs Charitable activities axpenditure Unrestricted funds General Total 2025 Independent Examination Fees Payroll fees 2,741 2,741 e46 3,587 3,587 Unrestrlcted funds General Total 2024 Independent Examinatlon Fees 2,577 2.577 8 Trustees remuneration and expenses No remuneration or other benefi18 from employment with the Charity or related enlily were received by the TTU$tees. Page 17
Wlngs South West Notes to the Flnanclal Statements for the Year Ended 31 August 2025 9 Staff cost5 The aggregate payroll cosls were as lollows.. 2025 2024 staff Costs during the year wwe: Wages and salaries Social security costs Pension costs 234.437 8,472 4,609 232,312 17,547 4.355 247,518 254.214 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year was as follows: 2025 2024 No 13 Operational slaff No employee receNed emoluments of more than £60,CI)O during the year. 10 Independent examiner's remuneralion 2025 2024 Independent Examination Fees 2,741 2.577 Page 18
Wings South West Notes to the Flnancial Statements for the Year Ended 31 August 2025 11 Taxatlon The charity Is 8 reglstered d)arity and is therefore exempl from taxation. 12 Tanglble fixed asset5 Land and bulldings Motor vohlcles Computer equipment Equipment Totsl Cosl Al I Septemker 2024 Addltions Disposal$ 275,764 98,593 967 238 52,380 26,701 764 453,438 1,731 2381 At 31 August 2025 275.764 99.322 52,380 27.465 454.931 Depreciation Al 1 September 2024 Charge for Ihe year Eliminated on disposals 20,738 71.921 49,916 13,693 156,268 2,757 5,514 616 2.C66 10,953 160} 1160 At 31 August 2025 23,495 77,275 50,532 15,759 167.061 Net book value At 31 August 2025 252.269 22.047 1.848 11,706 287,870 At 31 August 2024 255,026 26,672 2,464 13.008 297.170 Page 19
Wings South West Notes to the Financlal Statements for the Year Ended 31 August 2025 13 Debtors 2025 2024 Trade debt8 Prepayments VAT recoverable Other debtors 770 4.820 1,943 4.203 237 6,022 2.340 2.809 11,736 11,408 14 Cash and cash èquivalents 2025 2024 Cash at bank 330.524 270,860 15 Creditors: #mounts falling due within one year 2025 2024 Trade creditors other tsxalion and social security Olher Creditors Accruals 360 3,637 1,936 2,625 8.558 371 5.879 1,144 2.500 9,894 16 Pension and other schemes Defined contribulion pension scheme The charity operates a defined ¢onlribulion pension scheme. The pension cost charge for the year represents Contributions payable by the charity to the scherne and amounted lo £4.609 12024 £4,355}. Page 20
Wings South West Notes to the Financlal Statements for the Year Ended 31 August 2025 17 Funds Balancg at Balance at 31 August 2025 Septèmber 2024 Incoming Resources resources expended Transfèrs Unrestri¢ted funds General Funds Fixed Asset Fund 249,374 297,170 546.544 277,581 1238,4521 10,953 1249,405) 17011 1,653 952 287.802 287,870 277,581 575.672 Restricted funds garry and Peggy High Foundation Awards for Al Torridge DC Abbotsham Baptist eook Relief UK Toyota 13,01)0 50,000 19.880 18,600 1,000 148,0001 11,3801 (15.200) 11,0001 11.0001 15,000 18,500 12.400 9,000 1,000 952 {9521 1952 23.000 90.432 66,580 45,900 Total funds 569.544 368 013 1315.985 621.572 Separate unrestricted fvnds have been oreated to represent the appropriate book values of the tangible fixed assets held in the accounts. Where restricted funds are received for capitsl expenditure and the expenditure has been fully mel and fvnds used. the restriction is deemed lo be lifted and the asset value is transferred lo, and regarded as unrestricted, within the designated tangible fixed asset fund from then on. We are indebted to the Barry and Peggy High Foundation and Torridoe District Council for their continuing support this year. Page 21
Wlngs South West Notes to the Flnanclal Statements for the Year Ended 31 August 2025 Balance at Balance at 31 August 2024 September 2023 Incoming rèsources Resources axpended Translefs Unrestricted fund5 General Funds Fixed Asset Fund 237,009 303,201 234.397 1218,5231 112,5401 231.063 {3,509) 6,509 3.000 249,374 297,170 540.210 234,397 546,544 Restri¢ted funds Barry and Peggy High Foundation Awards for Al ASDA Torridge DC Abbotsham Baptist Parish Council Bideford Bridge Trust Book Relief UK NDVS ND AantIC Classic MCC Disabled Learner5 Bideford Rotary 23.500 50,000 8,800 400 24,400 1,000 200 2,000 1.CQO 1,333 160,5001 18,8001 1400} 122,2001 11,o¢X)} 12001 13,000 6.800 9,000 12.0001 1.000 {1,3331 1,000 5.544 500 11.0001 15,5441 (5001 100,477 30.300 96.177 3,000 23,000 Total funds 570,510 330.574 331,540 569,544 The specific purposes for whlch the funds are to be applied are as follows.. The Barry and Peggy High Foundation grant went towards work with disadvantaged chlldren and adults. AJI other listed funds represent other fully or parually satisfied grant income in the year that has been spent. Al other funds included here relate lo funding towards salaries of employees of the Charity or specific purchasing of project resources. Page 22
Wlngs South West Notes to the Financial Statements for the Year Ended 31 August 2025 18 Analysis of net a55ets between funds Unrestricted funds General Total fvnds at 31 August 2025 Restricted nds Tangible fixed assets Current assets Current liabilities 287,870 296,360 8,558 287.870 342,260 {8.5581 621.572 45,900 Total net assets 575.672 45,900 Unrnstrictèd fvnds General Total funds at 31 August 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 297,170 259,268 19,894 546,544 297,170 282,268 9,8941 23,000 Total net assets 23.000 569.544 19 Related party Iransactions During the year. the charity las a Company Limited by Guarantee) paid remuneration under emplOent wnlract to one of its two Founding Dire¢tors. Paul Bowser received total remunerati¢Jn of £17.064 12024: £16.5671 for his role as CEO, Paul is ernployed lo his relevant expertise and experiencE lor the FM)$t. The appointment arKI remuneration is permitted under the Articles and Memorandum of ivings South Wesl. Page 23