2023-03-31-accounts

COMPANY REGISTRATION NUMBER: 04133681 CHARITY REGISTRATION NUMBER: 1087340

Woodthorpe Development Trust Company Limited by Guarantee Unaudited Financial Statements

31 March 2023

ALLEN, WEST AND FOSTER Chartered accountants Omega Court 364-366 Cemetery Road Sheffield S11 8FT

Woodthorpe Development Trust

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2023

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	7
Statement of financial activities (including income and expenditure account)	8
Statement of financial position	9
Notes to the financial statements	10

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

Reference and administrative details

Registered charity name Woodthorpe Development Trust Charity registration number 1087340 Company registration number 04133681 Principal office and registered 12 Ulley Road office Woodthorpe Sheffield S13 8BB The trustees S Potesta - Chair P Jackson - Treasurer L Bell - Vice Chair G Harris - Trustee Independent examiner Stephen Allen ACA FCCA Omega Court 364-366 Cemetery Road Sheffield S11 8FT

1

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Structure, governance and management

Governing Document

Woodthorpe Development Trust is a charitable company limited by guarantee. It was incorporated with Memorandum and Articles of Association on 29 December 2000. The company took over the activities of the unincorporated charity Woodthorpe Forum on 1 October 2001.

The company has no share capital. The guarantee of each member is limited to £1.

Appointment of Management Committee

The directors of the company are also charity trustees for the purposes of charity law and under the companies Articles are known as the Trustees. Under the requirements of the Memorandum and Articles of Association the Trustees must retire and be reappointed at each annual general meeting of the company.

The maximum number of Trustees is 12. The Trustees may appoint persons as Trustees, either to fill a vacancy or as an additional Trustee, provided that the maximum number of Trustees is not exceeded. A Trustee so appointed must retire and be re-appointed at the next annual general meeting.

Trustee Induction and Training

New trustees are encouraged to attend short training sessions to familiarise themselves with the charity and the context within which it operates. These cover:

• The obligations of Trustees

• The main documents which set out the operational framework for the charity including the

• Memorandum and Articles.

• Resourcing and the current financial position as set out in the latest published financial statements.

• Future plans and objectives

Trustees are provided with the Charity Commissions guide "the Essential Trustee" along with a copy of the Memorandum and Articles of Association and the latest financial statements.

Risk Management

The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and this will be updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

A significant risk area continues to be the unpredictability of grant funding from local, regional and national government and other funding providers. In addition to this, the rising costs of running the business continue to be an area of concern. This has further strengthened the need to continue to diversify sources of income and generate unrestricted income reserves through enterprise initiatives.

Internal control risks are minimised by the clear system of authorisation and well documented Financial Controls approved by the Trustees. Procedures have been put in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the organisation's premises.

2

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Organisational Structure

The Trustees meet at regular intervals during the year and are responsible for the strategic direction and policy of the charity.

A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Manager. The CEO is Karen Dineen who was appointed in April 2012 and is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. Karen also has responsibility for the day to day administrative and financial operation of the organisation including identifying, obtaining and managing funding income. She is assisted in relation to to financial records and accounting by a Finance and Administration Manager.

Related Parties

The Trust continues to take a “partnership” approach to development. We are working with over 20 organisations to provide regeneration in the area. These include the principal funders referred to in note 5.

The Trust's activities are conducted in a manner targeted at maximising benefits to residents and are carried out with a view to achieving a sustainable Trust into the future.

Objectives and activities

How our activities deliver public benefit

The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association.

The object of the charity and its principal activity continues to be to promote the benefit of the inhabitants of Woodthorpe and neighbourhood by such charitable purpose or purposes as the Trustees in their absolute discretion shall decide.

The trustees consider that they have complied with the duty as set out in Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.

Mission Statement

To bring about the community led social, environmental and economic regeneration of the Woodthorpe Area.

Subsidiary Activity

The company no longer has subsidiary companies.

3

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Achievements and performance

This has been a more stable year than last although it is fair to say that we still face challenges because of the Pandemic. It was not expected that we would still be feeling the effects of this 3 years on.

The Trust is still running a much smaller operation as a result of losing projects and income in 2020. The focus remains on 'maintenance' but we are now starting to look forward to a period of managed growth as we embark on the new financial year.

4

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

Financial review

The company results for the year ended 31 March 2023 are summarised in the Statement of Financial Activities. The net movement in funds for the year was a deficit of £44,909 - (2022: deficit of £12,952). Company reserves stood at £68,338 - (2022: £113,247).

Principal Funding Sources

The principal funding sources for the charity are currently contract income and grant funding, and are set out in note 5.

Investment Policy

The Management Committee has considered the most appropriate policy for investing funds subject to the overriding requirement of maintaining liquidity of funds. The Committee is currently considering other forms of short term investment with a view to improving investment returns

Reserves Policy

The Trustees have reviewed the reserves of the charity in line with the Charity Commission guidance. This included analysing existing funds, considering possible future funding and taking into account the expenditure to which the organisation will be committed. With this in mind and taking into account existing funds, possible future funding and expenditure to which the company is already committed, the Trustees concluded that a reserves policy of 3 months running costs is now appropriate, which currently equates to approximately £75,000.

Responsibilities Of The Management Committee

Company law requires the Management Committee to prepare financial statements for each financial year, which give a true and fair view of the charitable company’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and;

(a) Select suitable accounting policies and apply them consistently.

(b) Make judgements and estimates that are reasonable and prudent.

(c) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements 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.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

5

Woodthorpe Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2023

The trustees' annual report was approved on 19 December 2023 and signed on behalf of the board of trustees by:

S Potesta - Chair Trustee

6

Woodthorpe Development Trust

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Woodthorpe Development Trust

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Woodthorpe Development Trust ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Stephen Allen ACA FCCA Independent Examiner

Omega Court 364-366 Cemetery Road Sheffield S11 8FT

7

Woodthorpe Development Trust

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2023

Year ended 31 March 2023
			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	–	92,611	92,611	121,003
Charitable activities	6	99,851	–	99,851	82,369
Investment income	7	7	–	7	–
					
Total income		99,858	92,611	192,469	203,372
					
Expenditure
Expenditure on charitable activities	8,9	144,767	92,611	237,378	216,324
					
Total expenditure		144,767	92,611	237,378	216,324
					
					
Net expenditure and net movement in funds		(44,909)	–	(44,909)	(12,952)
					
Reconciliation of funds
Total funds brought forward		113,247	–	113,247	126,199
					
Total funds carried forward		68,338	–	68,338	113,247
					

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

The notes on pages 10 to 19 form part of these financial statements.

8

Woodthorpe Development Trust

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

31 March 2023
		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	15	1,577	2,398
Investments	16	100	100
			
		1,677	2,498
Current assets
Debtors	17	29,032	28,450
Cash at bank and in hand		84,012	135,144
			
		113,044	163,594
Creditors: amounts falling due within one year	18	23,050	19,512
			
Net current assets		89,994	144,082
			
Total assets less current liabilities		91,671	146,580
Creditors: amounts falling due after more than one year	19	23,333	33,333
			
Net assets		68,338	113,247
			
Funds of the charity
Unrestricted funds		68,338	113,247
			
Total charity funds	21	68,338	113,247
			

For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

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

These financial statements were approved by the board of trustees and authorised for issue on 19 December 2023, and are signed on behalf of the board by:

S Potesta - Chair Trustee

The notes on pages 10 to 19 form part of these financial statements.

9

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 12 Ulley Road, Woodthorpe, Sheffield, S13 8BB.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

In line with the Charities SORP (FRS102) Update Bulletin 1:

• (a) No cash flow statement has been presented for the company.

Consolidation

The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

10

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

11

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Office equipment - 25% straight line Computer equipment etc - 25% straight line

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

12

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The company is limited by guarantee and as such has no share capital. The members of the company are the trustees whose liability is a maximum of £1 each.

13

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

5. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Grants
Sheffield City Council - Special Needs Inclusion
(SNIPS)	–	92,412	92,412
Clarion Futures	–	199	199
BBC - Children in Need	–	–	–
Job Retention Scheme	–	–	–
Council Covid Support	–	–	–
			
	–	92,611	92,611
			
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Grants
Sheffield City Council - Special Needs Inclusion
(SNIPS)	–	96,986	96,986
Clarion Futures	–	5,477	5,477
BBC - Children in Need	–	5,175	5,175
Job Retention Scheme	–	13,052	13,052
Council Covid Support	313	–	313
			
	313	120,690	121,003
			

6.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Fees for services and recharges of
	expenses	99,741	99,741	81,769	81,769
	Other income	110	110	600	600
					
		99,851	99,851	82,369	82,369
					
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Bank interest receivable	7	7	–	–
					

14

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

8. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Direct costs	107,233	92,611	199,844
Support costs	37,534	–	37,534
			
	144,767	92,611	237,378
			
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Direct costs	63,651	125,595	189,246
Support costs	27,078	–	27,078
			
	90,729	125,595	216,324
			

9. Expenditure on charitable activities by activity type

		Activities
		undertaken		Total funds	Total fund
		directly	Support costs	2023	2022
		£	£	£	£
	Direct costs	199,844	34,834	234,678	213,493
	Governance costs	–	2,700	2,700	2,831
					
		199,844	37,534	237,378	216,324
					
10.	Analysis of support costs
			Analysis of
			support costs	Total 2023	Total 2022
			£	£	£
	Premises		5,016	5,016	7,161
	General office		26,847	26,847	14,986
	Human resources		2,014	2,014	–
	Finance costs		957	957	2,100
	Governance costs		2,700	2,700	2,831
					
			37,534	37,534	27,078
					
11.	Net expenditure
	Net expenditure is stated after charging/(crediting):
				2023	2022
				£	£
	Depreciation of tangible fixed assets			821	822
					

15

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

12. Independent examination fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	2,700	2,830
		

13. Staff costs

The average head count of employees during the year was 19 (2022: 17). The average number of fulltime equivalent employees during the year is analysed as follows:

	2023	2022
	No.	No.
Number of staff	19	17
		

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

14. Trustee remuneration and expenses

No remuneration was paid to trustees in the period (2022: Nil) nor were any expenses reimbursed to them (2022: Nil).

15. Tangible fixed assets

	Office	Computer
	equipment	equipment etc	Total
	£	£	£
Cost
At 1 Apr 2022 and 31 Mar 2023	14,295	38,153	52,448
			
Depreciation
At 1 Apr 2022	14,295	35,755	50,050
Charge for the year	–	821	821
			
At 31 Mar 2023	14,295	36,576	50,871
			
Carrying amount
At 31 Mar 2023	–	1,577	1,577
			
At 31 Mar 2022	– 	2,398 	2,398 

16

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

16. Investments

	Other
	investments
	£
Cost or valuation
At 1 Apr 2022	100
Additions	–
	
At 31 Mar 2023	100
	
Impairment
At 1 Apr 2022 and 31 Mar 2023	–
	
Carrying amount
At 31 Mar 2023	100
	
At 31 Mar 2022	100
	
All investments shown above are held at valuation.

17. Debtors

		2023	2022
		£	£
	Trade debtors	26,422	25,862
	Amounts owed by group undertakings	857	857
	Prepayments and accrued income	1,753	1,731
			
		29,032	28,450
			
18.	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Trade creditors	6,553	543
	Accruals and deferred income	2,902	5,624
	Social security and other taxes	3,464	3,345
	Other creditors	10,131	10,000
			
		23,050	19,512
			
19.	Creditors: amounts falling due after more than one year
		2023	2022
		£	£
	Bank loans and overdrafts	23,333	33,333
			

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,016 (2022: £1,873).

17

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

21.

Unrestricted funds

Unrestricted funds
					At
	At	1 Apr 2022	Income	Expenditure	31 Mar 2023
		£	£	£	£
General funds		113,247	99,858	(144,767)	68,338
					
					At
	At	1 Apr 2021	Income	Expenditure	31 Mar 2022
		£	£	£	£
General funds		121,294	82,682	(90,729)	113,247
					
Restricted funds
					At
	At	1 Apr 2022	Income	Expenditure	31 Mar 2023
		£	£	£	£
Restricted Fund 1 - desc in a/cs		–	21,102	(21,102)	–
Sheffield City Council - Special Needs
Inclusion (SNIPS)		–	71,310	(71,310)	–
Sheffield Futures		–	199	(199)	–
BBC - Children in Need		–	–	–	–
Job Retention Scheme		–	–	–	–
Social Enterprise Support Fund		–	–	–	–
					
		–	92,611	(92,611)	–
					
					At
	At	1 Apr 2021	Income	Expenditure	31 Mar 2022
		£	£	£	£
Restricted Fund 1 - desc in a/cs		–	–	–	–
Sheffield City Council - Special Needs
Inclusion (SNIPS)		–	96,986	(96,986)	–
Sheffield Futures		–	5,477	(5,477)	–
BBC - Children in Need		–	5,175	(5,175)	–
Job Retention Scheme		–	13,052	(13,052)	–
Social Enterprise Support Fund		4,905	–	(4,905)	–
					
		4,905	120,690	(125,595)	–
					

18

Woodthorpe Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2023

22. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Tangible fixed assets	1,677	1,677
Current assets	113,043	113,043
Creditors less than 1 year	(23,049)	(23,049)
Creditors greater than 1 year	(23,333)	(23,333)
		
Net assets	68,338	68,338
		
	Unrestricted	Total Funds
	Funds	2022
	£	£
Tangible fixed assets	2,498	2,498
Current assets	163,595	163,595
Creditors less than 1 year	(19,513)	(19,513)
Creditors greater than 1 year	(33,333)	(33,333)
		
Net assets	113,247	113,247
		

19