Company Règistration Number- 04187016 The Charity Registration Number is :. 1096146 Washington Millennium Centre Trust Limited Report and Accounts 31 March 2024 Washlngton Millennium Contre Trust Limlted Report and accounts forlhe year ended 31 March 2024 Contents Page Charlty Information Trustses. Annual Roport stst•m•nt of dlr•¢tor8' rosponslbilit Indopgnd•nt Examlnorfs Rèport Funds Sta1¢n￿lts.'. Slalement of Financial Activities Statemenl of Flnancial Adivlties- Prior Year slalemenl Statement of lolal recogniseil gains and108ses Movements in funds Revenue Funds Flxed Ass¢1 funds Income and EXper￿lIL￿9 aecount Summary offunds 11 12 14 14 13 15 14 Balance shoot Notes to th• accounts 16 17-30 Washington Millennium Centre Trust Limited Company Registration Number- 04187016 Trustees. Annual Report for the year ended 31 March 2024 The Trust¢¢$ presenttheir Report and A￿Unts for the y?ar ended 31 March 2024. which aso eornprt8es the Directors. Report required by the Compani$s Act 2006. R•feren¢e and administrative detalls Tho ¢harity name. The legal name ofthe tharity is'.- Washington Wlennium Centre Trust kn'mited. The charity is also known by its oper8tin9 name. INaShingt￿l Wdl?nnium Centrg. The ehori￿S voa$ operatlon •nd UK eh4ritabl• registratson. Th& d)arity is regi$tered in England & Wales with thè Charty cornn￿$s4on in England & W816s ICCEWI with (harity numter 1096146. The charity does not operate in any oversea$ juris(*ctsons. Lwal $trUc￿r• of the charity The eharty is eonsts'tuted as a company limited by guarantee, register&J undoi the Companies Acts. The goverThng dowmenl oflhe charty is the Memorandum ar￿ Art￿e$ ofAssociation establishing the Company undèr ￿mp8￿Y legislalion. There are no restrictions In the governing documents on the operation of the Charity or on its investrnent powors other than those imposgd by Charty Law. By OFeration of law all. trustees are direct¢)rs underthe Companies A¢t 2006 and au dire¢tors are trustees undar char￿8$ ￿giSlatI￿ and have responsibilths, as s(Kh, under both company and ¢harty legislath￿. Tha trustees are al indi*iduals. Washlngton Millennium Centre Trust Limlted Ctsmpany R￿l$tratIOn Number- 04187016 Truste•s' Annual Report for thè y•ar ended 31 March 2024 Tho prlnclpal opèrnting address, to1ophon• numb•r, ernoil and w•b addr•sses of th• eharlty ar•:. The Oval Cgn¢ord Village, W85hirwton Tyne & v￿ar, NE37 2QD T¢Jephone 0191 $813880 Em$il Address milleniumcentre@sunderfand.gov.uk Web address wM¥.wa8hingtonmillenniLm.org.uk The ￿giStered offitt of the charity for Compantes Act purposes is the same as the operating address shown above. The Trusts•$ in office on the date tho rwrt was apprO￿d were.'- C¢uncilkY Pet•rWalker M'chael Addison Callum Marc McPake Lesley Spuhjer David Srjowdon Barry Gsorge Robert Srnith Jill Elaintr Fletcher Th• followlng ￿tsOn9 seNed as Trusteès durlng thè year ended 31 March 2024:. The trustees who serveoj as a trustee in the reForting perK)d were as shown above. and there were no changes during the year, or in the petiod between the yeaF end and the apprDval 0ftr￿ w)unts. All the trustees are also members of the charity. Objects and actlvities of the charity Thepurposes of the charity as set out In its goveming documonL The company is a registered charity and exists lo act as a focus point for the communty of Washington. Tyn& & Wear. It is a not for profit organisation, managed by local people, with support from the City of Sunderland Community SeNi¢es. Washlngton Millennium C8ntre Trust Limited Company Registration Number- 04187016 Trustees. Annual Report for the year ended 31 March 2024 The main activities undertaken in relation to those Pu￿0$e$ during the year. The ￿ntre is a community hub for the area. providing voluntary and community sector organisalions with premises for activities and meetings. whilst al the same time delivering a range of activities itself. The centre continues to offer educational opportunities in line with the companies, objects, also leisure opportunrties that are both recreational and educational and impact on the communities, health and wellbeing. This is conb.nued throughout the whole year. We have the soft play provision. Football pitch, Pamper Clubs, Dance Schools and a men's support group, all examples of the bmad range of activib.es that the centre offers. The delivery of the objectives are acheived by wothing in partnership with numerous org8n5iations and the trustees value this partnership work and the input of volunters who make many of these opportunites possible. Key partners in¢lude NHS. A¢tivie Families. Head Way. Active Sunderfand and Sunderfand Council. The main activitles undertaken during the year to further the charitys purposo lor the public bonefi The Centre has had a great ygaT with our main focus bging Millies Magical Garden and the Fitness Suit. The soft play ha8 conbnued to thrive and we have weltomed hundreds rf not thousands of Customers through our doors. In lum Ihis has increased the footfall within the Cent￿, especialty in our café area and Gym, where the usage in both area's has blossomed. We have inGreased our opening hours to meet the p4Jblic demand, which has creatsd extra working hours lo offer out team. Where we have had gaps in the diary, we have began to fom) new partnerships with Smoking cessation, Essence and private groups such as table tennis and an altemative Church. These have all had a good and positive impact on the local community The Children's parbes package we offer, is very affordable and wort(s really well for our customers, we are generally fully booked over most weekends. The trustee's continue to support the local council by offering meeting space, allowing meetings to take place outside of Sunderland, so the residents of Washington are able to engage where possible. The Cenlre's ICT suit offers a mUc￿needed service to the community and it is very well attended on a daity basis for customer5 to do anything from browse the Web. Job search or print. The trustees have had regard to thè Charity Commission's gurdancg on public benefft in managing the activities of the charity. The main achlevemonts and perfom)an¢e of the charity durlng the year. The trustees are pleased lo report that we have managed to ￿ntInUe to offer affordable activities in a Safe, fr￿ndlY and clean environment. This is mosoy down to softplay, which thrives, receives great feedback and has an enthusiastic attendance both in daily visits and parties. We also ntinue to support the Cos Council with their Area Committee and VCS meetings. Washington Mlllennium Centre Trust Limlted Company Re9istration Numbgr- 04187016 Trustees, Annual Report for the year ended 31 March 2024 The difference the charitys perforniance durlng the year has made to the beneliciaries of the charlty. The tNstees are pleasecl to report that the Centre is very well used and a popular venue for the local and wider public, especially for soft play and gym faolities. The ICT room is popular and continues to offer a crucial service for usets. The fnjslee's decided yet again not to price increase any of our activities or room hires. This was to ensure we continued lo offer affordable services to the local community- Financial hardship is a￿ayS al the for front of minds when we look at our pricing structure, This allows many low- income families the chance lo still have fun recreational lime together. The ￿ntre continues lo works closely with organisations such as Eden Training and Baltic RecNilmenl who offer educational training and back to work opportunities. The degree to whlch tho achievements andperfomiance during tho year have beneftt•d M"dersociety. The b8nefi't lo society is partly that we arg able to offer Services and opportunitios in an area of high depravation al low cost or sometimes no cost, ars example being children under one can use the soft play facilities free. Internet access is free and we know many people in the area cannot afford a ¢omputer. Accèss lo the 3G piteh is free for local Children, the library is run as an honesty library. All of these facilities are well used which is why we have continued to off8r the $&rvices. The trust is committed to offering servi*$ to the local community which meets their needs and ensures indusion rather exclusion and which contributes to reducing th8 inequalities gap Structure, governanco and management of the charity The methods used to recruit and appoint new charity trustees. The members of the management committee are elected annually by way of nominations at the AGM, and nomially hold office until the AGM the following year. Any ¢o-opled non-voting vacancy may be filled by way of nomination al the next meeting of the management committee. Nominations and consents must be sent to the committee within seven days of the notice calling the AGM. New Tfuslees undergo an induction to brief them on their legal obligations under charity and ompany law. the content of the company's Memorandum and Articles of Association, the committee and decision making processes. the up to date business plan and recent financial perfomiance of the charify. During their induction new Trustees are encouraged to meet key employees and other Trustees. New Trustees are atso 8dvised to attend appropriate external training events. where these can facilitate a greater understanding of Iheir18gal responsibilitie$. Washington Mlllennium Centre Trust Limited Company Registration NurrtEr- 04187016 Trustees. Annual Report for the year ended 31 March 2024 The charlty's relationshlps with relatedparties. Bankers Uoyds Banking Group 54 FaW￿tt Str¢&t nderfand SR1 1SF Laverid( Walton & Co 83 Jfjngfisher House Team Valley Gateshead Tyno & Wear NE11 OJQ A¢¢ountants Financial revlew The charitys financlal positlon at the end ol the year ended 31 March 2024 Tho financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fulty detailed in the a¢¢ounts, ¢an be summarised as follows... 2024 2023 Nèt incomè 66,347 37,467 Unrestrieted Revenue Funds available f¢r the general purposes of the charity Désignate(l Revenue Funds Total unrestrIet￿ Funds 389,464 323,117 200,000 $89,464 200,000 523.117 Total Funds 589,464 523,117 Finaneiaj review ol theposition at the reporting date. 31 Alarch 2024. The trustees consider the financial perfomiance of the charity during the year to havè been satisfactory. Specific changes in fixed assets arg detailed in the notes to the ac¢ounts. Washington Millennium Centre Trust Limlted Company Reglstration Number- 04187016 Trustees, Annual Report for the year ended 31 March 2024 Policies on reserves. The Trustees have agreed to maintain designated funds totalling £200,000 towards ongoing improvements and routine maintenance of the gymnasium facilty within the Millennium Centre and the outdoor football pitch. In addib.on to the designated funds, the Trustees seek to maintsin unrestricled funds which allow the organisation to continue to operate without any external funding for a period In excess of Iwelve months. Going Concem There ara no funds in deficit, and Ihe Trustees consider Washington Millennium Centre Trust Limited to be a going concem, as il will be able to fund ifs activities going ft)￿ard for a period of at least ttvelve months. Availabilty and adequacy of assets of each of the funds The board of trustees is satisfied that the chaiiW¥ assets in each fund are available and adequate to fulfil its obligations in ￿SPeCt of each fund. Details of The Independent Examiner Mr J Mills FCCA Memter ofAssociathm ofchartered Certified Accountants 83 Kingfisher House Kingsway North, Team Valley Gateshead Tyne & Wear NE11 OJQ Washington Millennlum Centre Trust Limited Cornpany Registrat'on Number- 04187016 Trustees. Annual Report for the year ended 31 March 2024 Statement of the Directors Trustees. Responslbilities The charitys trustees are responsible for the preparation of th8 accounts in accordance with the tem￿ of the Cornpanios Act 2006, the Charities Act 2011 and the Charitie$ (Accounts and Reports) Regulations 2008. NO￿lthS￿ndlng the explicit requirement in the extant ststutory re9ulations,the Charities (Accounts and Reports} Regulations 2008, to pr•pare the financial statements in accordance with the SORP 2005. in view of the fact that the SORP 2005 has been w¢thdrawn, the Tru¥lges dete￿ined to ints￿ret this responsibility as requiring thtsm to foll¢)w current bgsl pracli¢e and prepare the accounts according to the FRS 102 SORP {Slalemenl of Recommended Pra¢ts'ce forAccounting and Reporbng by Chariliesl 2015, las amended by the Bulletin i$$ued in O¢lober 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORPI. - In particular. the Companies Act 2006 al￿ charity law require the Board of Twslees to prepare fi'nancial statements for each financial year which give a true and fair view of the stste of affairs of the charity as al the end of the financial year and of the surplus or defi¢it of the charity. In preparing those financial slalements the Board is required to - to prepare the accounts in accoidan¢e with United Kingdom Generally A¢¢epted Accounting Pr8Cti¢e (United Kingdom Accounting Standards and applicabl8 5awl. select suitable accounting policies and apply them con$islenlly,' - make judgements and eslimales that are reasonable and prudent., prepare the financi81 statements on the going concern basis unless il is inappropriate to presume that the charity will continue in business.. slate whether applicable a¢¢ounting standards and Statements of recommended practice have be&n follow•d. subject to any material deparbjres disclosed and explained in the financial statements., The law requires that the trustees must not approve the 8trounts unloss they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. The Trustees are also re$ponsible for maintaining adequate a¢counting record$ which disclose with reasonable a¢curacy at any lime the financial position of the charity and whiGh are sufficient to show and explain tho charity's transactions and gnable them to ensure that the financial statements comply with the Compani&s Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the preventson and detécts'on of fraud and other irregularities. The Trustees are also responsibl• for the contents of the Trustees, report, and the statutory responsibility of the Independent Examiner in relation to the Truslee$' r8POrt is limited to examining the ￿pOrt and ensuring that, on the face of the report, ther8 are no material inconsistencies with the figures disclosed in the financial statements. Washington Millennlum Centre Trust Limited Company Registration Number- 04187016 Trustees. Annual Report for the year ended 31 March 2024 Mèthod of preparatlon of accounts - Small company provisions The financial statements are s8t out on pages 11 to 30. The financial statements have been prepared implementing the FRS 102 SORP IStaten70nt of Recommended Pracb"ce for Ao¢ounting and ReportJ"ng by Chariliesl 2015. (as amended by the 8ullelin issued in October 2018 and applicablè to all accounting periods beginning on Of alter 1st January 2019), (rhe SORPI. and In a¢¢ordance with the Flnanct81 Reporting Standard 102. (effective 1st January 2016) The$• TinancSal statements have been prep&red in accordance wilh the provi$ion$ In Part 15 of the Companias Act 2006. applicable to companies subject to thè small ¢ompanies regime. T￿.$ report wa8 appro¥ed by the boaTd of In￿l￿e5 on 19 No¥ember 2024. Mrs J Fletcher Director￿d Trustee Washlngton Millonnium Cgn*re Trust Llmltsd Report of thg Ind•p•ndant Examinorto thè Tru*tèe$ otthe ¢haritablo ¢ompany on tho a¢eounts forth& year endod 31 Mareh 2024 I rapcrt to I￿TrU￿￿ Ly) my examnation ￿the financlal stat*nents ¢lthe charitable companyon pag8s 11 to 30 forlho y88rended 31 2024wthich ha¥e baen prepared In a¢¢tydan¢e with the charit￿ Ad 2011 ltheActi and with the Financkl RepDrhng Stand2rd 102. lerre¢twe 1$t J*)uary2016185 rnodrf￿d by FRS 102 SORP (statemènt of Recornmende¢l PrxtiC8 f¢rA¢counting ond Reporbng byCharttr&sl 2015. las amended byth¢ Bujklin ￿Suad in Ottobw 2018 and applicableto all ac(x)un&'ng perhids beginning cn erafter 1st Januwy20191. (rho SORPI. pubh'shed bylhe Chaiity CommtssiL)n in England &Wa￿S ICCEW). and underthèhtsttirit•l c¢st COn￿￿tiOn and the a￿O￿ltU19 pul￿AeS set (Art on page 17. R￿PIGth r2sponslbllltlos of th8 TrusteES and the Independont Examlnerand thfr l)as1s orthe report As dexri￿d on pa9e 7. yuu. the chdritabfe tomptys Trustees. who are also Ihe Ditectots (*lhe Companyforthe purposes of C(ynpanylaw, are responsibk forthe pwratK)n ofthe finartual statements li aCctrdancewi￿ Ihe Companies Act 2CrfJ6. the Charthes Act2011 and all dher app1Ka￿e law and with United Kingdom &nerally Aceepted AccoLrting P￿tiCe. applicableto 8mall¥erthbes. aJad fort*ing satisf￿d thatfhe frnanck81 st8tements give atrue and fair¥￿. Thè Trustegs eonsiderthat Ihe wditwu¥6merrt of Sethon 144(fl ofthe Charits8s Ad 2011 Ilhe Actl does not 8pply. and Ihat Ihere is no rewirement in the m￿randi￿n and artKte5 ofthe thtyforthe crfflducting of an aJdiL qnd thatth6 accounts not require an audrt in aCcord￿￿8th Part 16 of Ihe Compani6sAct 2(X)6 and Ihat no memberor members ha¥e requested an ￿drt pursuantto SeEtion 478 t*lhe cr￿panieS Act 2006. A5 a OJ)SEquence, tho TNsteBs have 8fa¢led thatthe finaneAal statements bg $ubiect to nd8p6nd¢nt examIr*tlc￿. Having s8ti8fffigd myseff Ihat th8fin0n¢l￿ statements *e not r8qL&W to be wjdltsd und¥r*y legal prov[￿on. gr othaTh*ise. snd 8r8 elvJibk for Indep￿denl ex8rn1n8tv)n. it i¥ my r8SPOnsibiltyto'._ al èxamine lh8finan¢l￿ st41¢rn8nt$ ofthe ¢h@rftyund8rSectbr$ 145 ofthe Act.. bl follw4 tho appl￿* wocedu￿$ in the Dtr8CtiDn5 gwen bythe Charrty Commissign underseclton 149Sllbl ef the Acl. 84515 ollndgpend8ntEx•mln8fs Sllt•mont and scope ofwork und8rt•k*n Skneethe ch8rita* companvs gross h¢LYne exc*ded e250,0(K), theChaTttab￿ Comp￿￿8 examinerrnust bè a member¢f a b)dy ltsttd in sectk)n 145 of Ihe Ad. I confkm that l am walffied to und¢rtake the ex*nination because l an 8Ulhori8od memberof ASSOC￿lt￿)n of ¢harter8d Cékthfied Aecount4Ms. whkh i% one ofth81Ists4 bodlas. I rwt in reswt of my•x8mination ofth¢ th8rWs fmonck81 statements carried oul under $145 oflheA¢t. In carrwny out myex*nination. I ha￿fo￿Ved all Ihe applKable Directv)ns 9iwen bylhe chaiitycommlss￿n under Soclion 1451Sllbl 01the￿ xlliny wt the dut￿5 of an independent examiner in relatron tothe t¢nductuig of an haependent examiTralion. An independent eXaMinat￿n includes a revw ofthe accaunting recotd5 kept tyth¢ aritable company *)d oftheaccounting Systems employed bylhe charitable cofflpanyand 8 COrnP¥￿80n ofthe fIn￿CIal st8ternents p￿errted with those records. It 8180 inckJde$ ￿nsIder￿tron of any Unl￿￿1 items or (fisdosura5 l thefinarKrdl Statem￿ts. seeking explanatrons from you. as TNste8s. cor￿Ing such matte[5. Th¢ pwptsse ofthe examinatron is to estabbsh as far as pos￿bIethatthere h*ve been no bteaches ofd)aritylegi8latM and Ihat. on a tast ba¥is Otevk1ence rdevant to Ihe fmounts Ond disGbsLwes made. the ffn*Kidl statements complywhh Ihe SORP. The Wotsdures undertaken do not provide * Ihe e￿(￿nCe would be required in an ￿di( and infLYmat Jpplied by the Trustees in the course ¢fthe ex*ninatvJn is not subjected to aLKlittests orenquiries 8nd does not er all Ihe matters Ihat an audrtorwtyjld cons￿￿ in wriving *an opinion. The planning tonduct of ￿ audrt goes ￿yond the lirrTrited asSuran￿that an indwndent examin*ion provide Cons4uenly, I dE* not express ￿ 8udit opnion o￿theV￿[gIven bythefinanod ststvnents. in part￿￿lIar. I expre$8 noi>pinion as to¥theth8rthe ffnartkil statemenls give atrue and fowview ofthe affairs olthe charty, myrtrpvrt is limittid to th8 matter5 S8ttyJt inthe stotement bebw. I ￿￿ned and pgrfomi¢d my examirHtion 80 as to satisfy myseWlh4t Ih8 objecti￿8 efihe in¢Jpp8ndent exanInat￿n athieved l￿fer•I￿alismg the ￿POrt l ebtained Trhyitten asSuw￿$ fromtheTrust8e$ of all material mattern. Washington Millonnium Cgntro Trust Llmited Indop8nd8ntExamlMfs Stat*mtn¢ Ropsjrt and Oplnton Subjecl to Ihe 11mftat￿n$ upon Ihe of my w￿k 88 detaled above. I have compleled my oxamknalon.. and can confirm that:. The accounts of thi$ tharAable company art not requre¢J lo be audfted ￿)dar Part 16 ofthe CDmpanie5Act 2ri)6.' Thtr gross income orth8 th*ttabb ¢¢m￿Y In Iha year e￿ded 31 Mwth 2024 appearstoexteed Ih* sum spwfied in Sectkn 145131 of Ihe Act, Tramely£250000. and that l qual￿t￿ to as Indepwjdent Exam￿￿ In act¢rd•nce wih Ihat 88Ctk)n tyvituè of rny bein9 8 qU8&'fièd member ofAssodation of Ch*iered ¢erfrf￿d Accountants." This 15 a report h respect gf an examiThatlon carried out under 145 oftheA¢t and in fKcerdancewlth Dlrèctic•$ gl¥en bythe chartycornm1s￿0n th)der $e¢tirffi 145ISXbl orth¢ Adwttich may be 8pplt¢abl¢." d th8t no materiol matters h8¥e come to my attention in ¢omection *fth the exam￿l￿n m8 cause to liev8 Ihai in ffj materk91 respe(t- accounth)g re￿rdS were noi kept in resped of the charityas Tequffed by Secith 386 ofthe Compan￿$ Act 20C6 and Secllon 130 ofTht Charrfies Act 2011.. Ihe finanad st8tement$ do not accord iwth those recLYds,' c¢ the financkgl statemants éjo nrl eomplywith the applkable requirem8Trts conceming Iheform and tofttantol ac￿nts set out in %ctSon 396 of Ihe Companies A¢t 2Q06 othorihgn any requlrementthat the acc¢unts a rf fav ¥Aèw. which not a matter consklwed a$ part of an Ind¢pendenl 8x8minalon.' have not been wep¥ed in ￿¢¢¥dan¢t￿Ith the m¢thods and ￿nCipleS set out In the FRS 102 SORP Istatement of Recomft*nded Pracaicé f¢rA¢counlny and Reportkng bYChWit￿5I 2015, las amended byll BU￿011Th1$SutsI in oclo￿2018 ond appllcabl¢to all accourting periods Wlnning on erafter 1st J4nuary20191. (The SORPI- I ha¥• no tonc*m¥ and ha¥& CL¥nè across no otherrnatters In eonnectbn V+ith the examlnatiLm to att8ntK)n should ba drawm in thb rèport in wderto en•bl• a proper und8r8t8ndin9 rfth8ftnanthal ¥tatwnent$to be reached. Siwrf... Mr J AIAIS - Independent Examln8f AsseciatiDn of Chartered Certrf*d Accountan B3 Kingfl8h¢r K&)g6w4y North, T¢&n V818y l>teshead & Wear NE11 OJQ This report was slgned Oft 19 Nov8mber2024 10 Washington Millennium Centre Trust Limitèd - Statement of Finan¢lal Actlvltles for the yèar ended 31 Mar¢h 2024 Statement of Financlal Activities (including the Income and Expenditure Account for the year ended 31 March 2024, as roqulred by the Companies Act 2006) SORP Rtrf CurreThtyear Unr•*rietsd Fund8 Curront y•ar R8strl¢tod Funds Curr•nt y•ar Total Fund¥ PtiorY•or Total Funds 2024 2024 2024 2023 Incorn• & Endowm•nts frorn: Dorth"ons & Legacies Chartsble activityès Investm& A1 3,333 393,955 8.352 3,333 393.955 8,352 42.523 319,580 1,535 Total incom• 405,640 405,640 383.638 Expgnditure on: Charitabje activitie$ Tox on surFAus on <)rdinary acbvil 83 337,706 7.587 337.706 325.885 Totsl èxpendStur• 339,293 339,293 326,171 Nèt Inc¢Jrne forth• yoar 66.347 66,347 37,467 Nat In¢om• aft•rtr4nsfers A-B4 66,347 66,347 37.467 Nèt movgmani in funds 66.347 66,347 37.467 Reconclllation of fund$'.- Total fund¥ broughtforward 523.117 S23.117 485,650 Total fund$ carrl•d forward $89,464 589A64 523,117 The'SORP Ref ind￿ted above is the ¢lassificth"on of incomo set out in the formal SORP do¢ument8. As required by paragraph 4.60 of Ihe SORP, the brought forward and carried forward funds above hsve been agregd to the Balance Sheet A Ststement of Total Recognised Goins and Los8es is included as a primary ststement in these account& AJI the prior yeartransactions were unrestrictsd items, arKJ no knrther analysis is r￿Uired All activitios derivo from continuing operations The notes atta¢hed on pages 17 to 30 ft>rm an intsgral part of these accounts. 11 Washington Mlllennlum Centre Trust Llmlted - Statement of Flnancial Activities for the year ended 31 March 2024 Statement of Total Recognised Galns and Losses for the year ended 31 Mar¢h 2024 2024 2023 Surplus forth• y•af -. Net excess of inc£Jme over expenditure from opw*"ons tefcfe tax Re8115ed gains on disposals of Social investments which are programme rel*d 67,934 37,753 Incomo from oper8tions b8for• taxin the Statwngntof Finan¢i4lActlvlt•s 67.934 37,753 Nèt Moveffl•nt In funds before taxatlon 67,934 37.753 Taxation arising in the y¢ar 11,587} 12861 Funds generated in thg year a5 shown on Statement of Financtal Activitte$ 66,347 37.467 Th• nots8 attached on pages 17 to 30 fwm aTr Intggral part of th8$9 accounts. 12 Washlngton Millennium Centre Trust Limited - Statement of Financlal Activltles for the year énded 31 March 2024 Washington Millennlum Centre Trust Limited - Resources applied in the year ended 31 March 2024 towards flxed assots for Charity use:. 2024 2023 Funds generated (n the year a5 detailed in the SOFA Resourc￿ aFplied on fiJnction81 fixed assets Other 8kwJications tsf funds 66,347 12,958) 37.467 {48,5111 Net resourcos availablg to fund charltablg actlvltles 63,389 11,0441 The notss attaohed on p•ggs 17 to 30 forni an integral part of these accounts. 13 Washlngton Millennium Centre Trust Llmltod - Statemollt of Financial Activities for the year ènded 31 March 2024 Movements In revenue and ¢apital funds for the yèar ended 31 March 2024 Revenue accumulatod funds UArestrJ¢l Fun 2024 Ré$tri¢t•d Funds 2024 Total Fun¢Js L¥sty￿r Total Futhd$ 2023 2024 Accumulated ftjnds brought forward 523,117 523, 117 485,650 Recogni￿ gains and losses b$f¢re transfers 66.347 66,347 37,467 589.464 589,464 523,117 Closlng r•v¢nue funds 589,464 589.464 523,117 Deslgnatgd rovenue fund5 included within the unrestri¢tod funds above Totsi Fund5 2024 Last Totwl Fund8 2023 At l ￿ri1 200,000 200,000 At 31 IAarch 200,000 200,000 The purposes for which these funds have been designated 8re described in Note 21 to the &xwnts. Summary of funds Unr•strlctsd and Dtr51gnatsd funds 2024 Restvktsd Funds Totsl Funds La8tYaar Total Fur 2024 2024 2023 Revenue accumulated fvnds Revenue designated funds 389,464 200,000 389,464 200,000 323.117 200,000 Total fund$ 589.464 589,464 523,117 Thg notes atta¢hod on pages 17 to 30 fomi an intsgral part of these accounts. 14 Washington Millennium Contrè Trust Limited - Ststement of Flnan¢lal Actlvitios for the year ended 31 March 2024 Washlngton Millennium Centre Trust Limited Income and Expendlture Account for the year ended 31 March 2024 as requlr8d by the Companies Act 2006 2024 2023 Income IncLJme from operations 397,288 362,103 Inv¢8knent income and intsrest Interest recwabte 8,352 1.535 Gross income In yéar b￿ore exceptlonal items 405.640 363.638 Gross incomfr in thè year In¢luding èxceptional items 405.640 363,638 Expenditure Charjtable expendibjre. exclLttYiro dewecialK)n and amortisab.on DepreciatKJn and amorb"sab"on Govemance o)sts Interest payable Realised los$es on disposals of social invesknents which are programme related 310,052 24,624 3,020 10 303,405 19,769 2,699 12 Total expendtturè in the year 337,706 325.885 Nat income baforè tax in the flnan¢i•l year 67.934 37.753 Tax on surplus on ordinary activitios 1,587 Not income aftor tax in the financial y•ar 66,347 37A67 Retsined surplus for the financial year 66,347 37.467 All activities derive from continuing operattons In accr*dance wth prowsions ofthe CompanEs Act 201%. the headings and subheadings used in the Inrxjme and Expenditure account hav8 b¢en adapted to refiect thg 8pecial nature ofthe charity's activths. The nots$ attached on pages 17 to 30 form an Integral part of thes• a¢¢ounts. 15 Washlngton Msllent)ium C•ntre Trust Limltsd. Balan4 6heetAs 4t 31 March 2024 Note R¥1 F￿ld a$8ets TÈtlWv 12 49.(K82 70,728 CumihtassEts Stockg 08bttys Cash ai b&*8no in B1 14 02 2.420 2,395 561.312 780 1.761 472.702 566.127 475.213 Cr•dlttst*.' •moufits falNng du• wlthl *wv*ar 22,W24 Ilrfcurreni 540,402 Th• lor81 n41a559ts •fth• ¢h•rlty 589,464 523.117 Tttgtolal Mtass•i* of Ihe charlty are lund•d tyythe of IhÈ charrty, •sf•ifowts:. Unw••bl¢t•d Fund8 19 D3 323,117 385.464 323.117 lJe&9nthed R8venue Futvjs Desighat¢d Fv4ÉdAs*i FL¥ 19 D3 19 D3 200￿0 2W.th)O Total 523.117 Th0EORP Rèfind￿4l￿ abryA ¢ Ihè￿6 •t Thod￿￿e1¢￿ are sa￿5r1￿j Ir￿ iheumwy er#jj￿ ta•xernpbohffom lh¢ re4•[￿ent to obtaki4nau 5e¢tion477Ofth&Comp￿*AG1 2())6. ThemeMbtt$￿￿ Mtiequ*ed cdMt>onylooblab)aThBudil 11 awdèr&ew￿h4¢¢￿lW4P6 tsfttwAct. Th& Dlrector$ ￿kf¢SP￿￿blthcS fOr¢{ynptyk￿ *7UIl￿￿E￿￿r0Mts￿ts oftrECDmw*a A¢120L r&5po￿ty a¢ccunkng record¥ 0f￿u￿1￿ Th&dwlyts *'ecl to IndEpetthrtExarthbDn LVKler¢barf&Y￿g￿￿th￿), of the IndEp8￿jgrrf ExgrrinÈri&on 10. Th&f¥¥ynCL￿ &latomwts ￿t￿lp10PAr4d kn auorthrKevJllhth8 pr￿¥￿￿￿. uiPart 15offv 2W6. a￿￿￿￿lèt0 ￿￿j*¢t tolhe&n¥Jl 98llie8 f89 lJrP W•ll 7rwate4 Appmvéd by the ol ￿l￿OI on 19 Nov9mber2024 Th* notes allaGI]ed onpay 17to 30 f•rnian intsw•lpw •fthw*¢oublts. Washlngton Millennium Centre TNst Llmltsd Notos to the Accounts for the year ended 31 March 2024 1 Accountlng pollclgs Pdichs r•latlng to the pmduction of the account& asl8 of prepamtton and a¢¢tsunUn9 con¥￿tt0t1 The 8ceeunl$ have been prepared onth6 ac£ru81s ba51& underlhe historical cost convention. and in ￿Co[danCe￿itti Ihe Finan&al RepDrting Standard 102. leff8cti¥e 1st January20161 and'FRS 102 SORP (Statement ol Recommended practi￿ forAccounting and Rtrporting by Caariliesl 2015. las bylhe Bulletin issued in October 2018 and applicabjeto all accounting periods btgnning on orthr 1st Januay 20191. (rhe SORPI, published bythe Charity Commission in England & Wales ICCEWI. ettedi¥e Janu8ry2016.. and in 4ccor¢ance with all applicable in the chatiV5wrisdiction of regi51tation. exceptth8t the thartyha5 prepwed tsfinancial Statements in accordancewth the FRS 102 SORP Istatement of ReEommeTrded PracbcefLY Accllunting Reporting by Charities) 2015, la$ amended by the BUl￿tin issued in Odober2018 and applicableto stl accounbng penods beghnlng on or after 1st January 20191. lThe SORPI, In preference to the previous SORP. Ihe SORP 2DJS. Ithich has been withdrawn, notwithstanding Ime fact that the extant statutory regulations, the Charibè& IAccwrsts and Reports) Regulations 2008 r8f8r explicit￿t0 the SORP 2005. TFUS has been done to accord wrfh current best practtce. Golnq Con¢wn The charitabl8 oCtivitie5 aro enllrety dependent orb continuing 9rant ad and voluntary donatlon8 as well 05 tradlng rnvenues. AS a constquenGe. th& going eon¢em ba￿8 is d8￿￿dent on the future ffow ofth888 uncertaiftfunding streams. Accordingly. the Trust888 have obtained for*¢4sts and, afterr&vi*wng the financlal forèca$15forfulur8 period$ to 31 March 2024, Ihe T￿Ste¢S are satlsfied that, at Ihe time of approvlng tha financial ststemants, it is approw? to 8doFrt Ihe yping conc8m basis in prepering Ihe fina￿￿8[ stat¥ments. Otherthan these matt8rs, tha TN$tees ar8 not aw8ra ofanymaterial unc*ainites aboutth¢ ¢htys ablltyto ￿ntinue as a goNig concern. Rl8k8 and futur• a¥8umpJons The ch8rityis a wbllc b8n8fil eTrlAy. The Trustéès have a risk management stmlegy %*lith comprisos: -An 4nnual r6vEwof the rlsks tha1 the charty mayface. -The establishment of sy8tem$ Ind prc