Charity Registration No. 1096822 Company Registration No. 04625597 (England and Wales) CHERRYTREE SUPPORT SERVICES LIMITED UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CHERRYTREE SUPPORT SERVICES LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Directors Steve Wa5ker (Chair) Alan Brown Jon Dunn John Fuller Janice Hoole Liz Murray Jon Smith Retired 1" July 2024 Lynne Urpeth Retired 30th June 2025 Kathryn Grayson (Treasurer} Trevor Higginbottom Charity number 1096822 Company number 04625597 PrSncipal address Mickley Lane Tolley Sheffield S17 4HE Registered office Mickley Lane Totley Sheffield S17 4HE Independent Examiner Sutton McGrath Hartley Ltd S Westbrook Court Sharrow Vale Road Sheffield S11 8YZ Bankers Royal Bank of Scotland PLC 5 Church Street Sheffield S1 1HE
CHERRYTREE SUPPORT SERVICES LIMITED CONTENTS Page Trustees, report Independent examiners, report Statement of financial activities Balance sheet statemert of cash flows Notes to the accounts 8-18
CHERRYTREE SUPPORT SERVICES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The directors present their report and accounts for the year ended 31 March 2025. The ac¢ounts have been prepared in accordance with the accounting policies set out in note 1 lo the accounts and comply with the company's Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). Objectives and activities The company's objectives are to.. provide a safe place for horneless single young people to live., provide support and life skills training; help young people re-establish their lives and move either inlo their own accommodation or back to thelr family home. The company meets its objectives by offering accommodation, support and in-housè counse51ing. Accommodation comprises a twenly-bed hostel on Mickley Lane in the Sheffield suburb of Totley and an eight-room house on Granville Road. near the city centre. The directors recognise their responsibilities by ensuring that the company continues to provide a seNice of public benefit and to this end, refer to Charity Commission guidelines. Achievements and perfomance During the year, occupancy rates were 940/0 for Mickley Lane (2023-24- 89 /4) and 940/¢ for Granville Road (2023- 24 _ 940/9). 28 young people were moved on in a positive manner during the year. A new post of Home & Health Worker was filled in April 2021 for a fixed term of a year, using the six months, deferred income ringfenced in the previous year's Homeless Link grant, followed by 8 matching amount from Cherrytree. This role provides much needed support to young people moving from the company's accommodation to their own properties, both before and after the move. The role has proved so valuable that Cherrytree agreed to extend its funding of the post until 31 March 2026. Financial revlew The deease of £66,079 in fund balances resulted in deficit unrestriGted funds of £46,176 at the year end. The company continued to receive financial support from Cherrytree, as agreed for previous years. In addition to this Cherytree loaned the company a further £I00,OOQ during the year ended 3191 March 2025 to overcome the deficit resulting from the underfunding crisis from Sheffield City Council's Supporting People Grant. The company's main funding sources are Sheffield City Council's Supporting People Grant and rents paid by the Benefits Agency for residents in the company's accommodation. The principal risk to the company is the loss ofthe contract with the Council. In order lo mitigate this risk, the company ensures that the seNice pVided to young people is a positive experience, covering their needs through a dedicated team of professionally trdined stsff. The contract was renewed wth effect from 1 April 2022 for a period of five years. The Chairman and Chief Executive Officer met with the Council in January 2025 to explain the company's issues with the level of support being received, which had not increased in line with costs in recent years. Discussions are ongoing but to date on additional funding has been forthcoming. The Trustees are currently exploring opts-ons in mitigating future losses but have agreed to support services to 3151 March 2026, before limiting future cut5 in services. The Trustees agree that losses of the Cuent level cannot be sustsined and supported beyond this date.
CHERRYTREE SUPPORT SERVICES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. governance and management The company is limited by guarantee (charity registration number.. 1096822 and company registration number: 04625597). It is governed by the Memorandum and Articles ofAssociation. Trustees and directors who setved during the period were: Steve Walker (Chairl Alan Brown Jon Dunn John Fuller Janice Hoole Liz Murray Jon Smith Retired 111 July 2024 Lynne Urpeth Retirèd 3Q June 2025 Kathryn Grayson {Treasurer) Trevor Higginbottom None of the directors have any beneficial interest in the company. The members of the company may by ordinary resolution appoint any individual to fill any vacancy in the directorship. All directors must retire at each Annual General Meeting but are eligible for re-eleGtion. Induction and training of new directors is undertaken by the company secretary and existing directors. The board of directors considers and formulates the company's policies. It is also responsible for the actual management of IhÉ company, making or allering rules and regulations and authorising expenditure. The directors have delegated the day-to-day management of the company to the Chief Executive Officer. Th8 directots review pay rates annually. The directors have assessed the major risks to which the company is exposed and are satisfied that systems are in place to mitigate exposure to these risks. Cherrytree {registered charity number 2323511 is the sole member of Cherryle Support Services Limited. Cherrytree pays grants to Cherryiree Support Services Limited. Reference and admlnistrative details The principal office of CherNree Support Services Limited is Cherrytree, Micklèy L8ne, Totley, Sheffield, S17 4HE. The company number is 04625597 and the charity registration number is 1096822. Details of the directors that seNed during the year and the delegation of day-to-day management of the company are provided under the heading 'Structure. governance and man2gement' above. Future plans The challenging financial environment is ongoing. Cherrytree Charity has agreed to support Cherytree Support Services to 31 $1 March 2026 and recognises the level of funding that might be needed. However, it is recognised that this is not sustainable beyond 313t March 2026. Wilhout additional funding being agreed by means of the Supporting People Grant the Trustees will be in the unfortunate position to agree a plan to mitigate future losses.
, CHERRYfREE SUPPORT SERVICES UMITED ,41'K? : TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 3q MARCH 2025 Note 17 sets an 8naty&50fthe assets attnbulabletrJ tho various lunds. Th8s8 asyets 8r8 suffioentto meetth8 .. ' t)n a fun&by-fiJnd basls. The CAt(l5 also act as truslees for the charftable a¢tlvlles of cher Supwt SeJvi¢es ilmited. are l-. ry,, responwbla for propartro the direraots. report and annual accounts in accordance appllcable law and Unlted , ,.. . 9.. the slate of aff5 of the ccwrf)any and of the inc¥)mlrKJ resourtes and applicakn of resources. includiNJ the I any lime the fnrnal po&1 of the conpary enable them to ertsure that the acCots oxnpty with tho
CHERRYTREE SUPPORT SERVICES LIMITED INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF CHERRYfREE SUPPORT SERVICES LIMITED FOR THE YEAR END 31 MARCH 2025 I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages fwe to seven. Responsibilities and basis of report As the charitys trustees land also the directors for the purposes of Gompany law) you are responsible for the preparatton of the accounts in accordance with the requirements of the Companies Act 20. Having satisfied myself that the charitable company is not subject to audit under ex)mpany law and is eligible for independent examination. I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the 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. My role is to state whether any material mattets have come to my attention giving me cause to believe: 1. that aGGounting records were not kept as required by section 386 of the Companies Act 2006; or 2. that the accounts do not accord with Ihose records; or 3. that the accounts do not comply with the accounting requirements of section 396 of the Companles Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland., or 4. that there is further infom)ation needed for a proper understanding of the accounts. Independent examinorfs ststement I have completed my examination and have no concerns in respe¢t of the matters (1) to (4) Ilsted above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawlng to your attention. James Salim Sutton McGrath Hartley Ltd S Westbrook Court Sharrow Vale Road Sheffield S11 8YZ Date: 3011212025
CHERRYTREE SUPPORT SERVICES LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds general Unrestrictsd funds designated Restricted funds Total Total 2024-25 2023-24 Notes Income and endowments from.. Charitable activities 760.351 57,901 818,252 774.164 Investments Donations and other income 606 606 773 4,521 4,521 2,853 Total Income 765,478 57,901 823,379 777.790 Ex enditure on: Charitable activities 831,557 57,901 889,458 797, 570 Totsl resources expended 57,901 889,458 797,570 831,557 Net outgoing resources before transfers Gross transfers betreen funds 166,079) {66,079) (19,780) Net expenditure for the year I net movement in funds Fund balances at 1 April 2024 Fund balances at 31 March 2025 (66,079) (66,079) (19,780) 19,826 19,626 39,406 (46,453) (46,453) 19,626 The statement of financial activities inGludes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
CHERRYfREE SUPPORT SERVICES LIMrrED" . &4LANCE SHEET ,. . . AS AT 31 MARCH 202S k.,. 31 Mr¢h 2025 31 Mch 224 14., .4.. Talble assets 13 Cashat bK and In $5.007 89,937 18.4C 14 (54,812) {41.Q60) 35,125 19,626 fy Loan . am(buntfalllng ':}:"" 15 (1CQ,OC<)) (46.453) 19,626 -..>rt unrestr furxlx ' 4 t)esignatsd fimd5 1&626 . 19.626 (46.453> 19,626 The xcwntswwe apwwJ by the dlr8Ctors on 30 Dmber 2025. FLY the fHJaTrial year In quesfjon the company was entitted to exempkn underseclvJTh 477 of the Companles .. ,'Act2006 relating tosmall companies. No Mern have reqUId kne cwany to obtsin an auditof tsaw>unts ft the year in qu86tion in 2c£ordaneA8 with section 476 oftho CompaniesAct 21)]6.The direc5 ackntyw*e the1rrbl11ty tro>ing with the requirements ofthe AGtwith Rspect to accounting records and forthe . smll •nie¥ regime.
CHERRYTREE SUPPORT SERVICES LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2024-25 2023-24 Note Cash flows from operating activities Cash absorbed by operations 19 (42,0581 (9,050) Investing activities Purchase of tangible fixed assets Interest received (21,947) 606 773 Net cash generated from investing activities 121.3411 773 Cash flows from financing actlvltles Loan from Cherrytree 100,000 Net decrease in cash and cash equivalents 36,601 (8,277) Cash and cash equivalents at beginning of year 18,406 26,683 Cash and cash equlvalents at end of year 55,007 18,406
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Company information Cherytree Support Services Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Mickley Lane. Totley, Sheffield, S17 4HE. 1.1 Accounting convèntion The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 201 $1. The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of Ihe company. Monetary amounts in these fin8ncial statements are rounded to the nearest pound. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going Gon¢ern Al the time of approving the accounts, the company has the continued support of the charity which it operdtes under. The reserves of the charity at 31 December 2024 were £1,579,185 and so the directors continue to adopt the going concern basis. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitablé objectives unle5S the funds have been desionated for other purposes. Designated funds are part of unrestricted reserves, but have been set aside by the directors for a specific purpose. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposés and uses of the restricted funds are set out in the notes to the accounts. 1.4 Incoming resources Income is re¢ognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Grants are credited to revenue when receivable. They are considered receivable when the conditions for receipt of the grant are deemed, by the directors, to have been met. Rents are credited to revenue when receivable. Interest on funds held on deposit is included when receivable and this is nomially upon notification of the interest paid or payable by the bank. No income is shown net of expenditure.
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.5 Resources expended All expenditure is accounted for on an accruals basis. Costs relating directly to the objects of the company, or support costs, are treated as costs in the furtherance of the company's objects. Governance costs include expenditure for Compliance and management of the company. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The policy is not to capitalise items below 8 cost of £1,00Q. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases-. Office Equipment Motor vehicles 15010 Reducing balance 25010 Reducing balance The gain or loss arising on the disposal of an a8S8t is determined as the difference beeen the sale prOedS and the carrying value of the asset, and is recognised in net incomel (expenditure) for the year. It is the policy of the company not to capltalise furniture and equipment as Ihis is deemed to be a maintenance cost and as such, is charged to expenditure. 1.7 Impairment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those asset5 have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemin@ the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held af call with banks, other short-tern liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The company has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the Gharity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effects've interest method unless the arrangement constitutes a financing transaction, where the transaction is Tneasured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Impairment of financial assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objectsve evidence that. as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affecled. Ifan asset is impaired, the irnpairment loss is the differen beeen the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net incomel lexpenditurel for the year. If there is a decrease in the impairTnent loss arising from an event occurring after the impairment was recognised, the impairmenl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been. had the impairment not previously been recognised. The impaiment reversal is recognised in net incomel (expenditure) for the year. DeCOgnItion of financial assets Financial assets are derecognised only when the contractual rights to Ihe cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party thal is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement Gonslitutes a financing transaction, where the debt instrument is measured at the psent value of the future payments discounted st a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments a subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is dernonstrably committed lo terminate the employment of an employee or to provide termination benefits. 10-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. These contributions are invested separately from the company's assets. 1.12 Value Added Tax Value Added Tax is not recoverable by the company and as such is included in the relevant costs in the Statement of Financial Activities. 1.13 Leases Rentals payable under operating leases, including any lease incentives received. are charged to expendlture on a straight-line basis over the term of the relevant lease. Crltical accounting estlmates and judgements In the application of the company's accounting policies, the directors are required to make judgements, estirnates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other f8Ctors that are considered relevant. Actual results may differ from these estimates. The estimates and unéerlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 3 Charitable activities 2024-25 2023-24 Supporting People Grant Residents, rents Benefits Agency rents Cherrytree grants 315,626 12,433 432,292 57.901 315,626 24,804 321,512 112,222 818,252 774,164 For the year ended 31 March 2025 U nrestricted funds - general Restricted funds 760,351 57,901 818,252 For the year ended 31 March 2024 Unrestricted funds- general Restricted funds 711,942 62,222 774,164 The Supporting People Grant funds the provision of housing to those who need support. Cherrytree grants contribute towards the costs of a project worker, counselling and residents, activities on an ongoing basis, and the Home & Health Vvorker for a fixed term from 1 October 2021 to 31 March 2026. 4 Investments 2024-25 2023-24 Interest receivable 606 773 As in the prior year. all investment income related to unrestricted funds. 12-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 5 Donations and other income 2024-25 2023-24 Donations and other income 4,521 2,853 As in the prior year. all donations and other income related to unrestricted funds. 6 Charitable activities 202&25 2023-24 Staff costs Security Deprecialion Motor vehicle expenses Repairs, renewals and maintenance Lighting. heating and cleaning Rates and insurance Staff training Rental of properties Homeless Link & Target License General expenses Profit on disposal of assets Skills in itiative 450,362 57,841 3,525 3.991 17,765 112,791 19,770 2,889 50,735 10,059 4,680 (8,040) 22,545 376,988 57,494 6,243 18,218 114,293 16,372 1,012 51,048 4,732 414 22,922 748,913 669,736 Shsre of governance costs (see note 7) 140,545 125,494 889,458 795,230 In the prior year £62.222 of expenditure on charitable activities related to restricted funds. 7 Support costs 2024-25 2023-24 Basis of allocation Staff costs Independent examiner's fee Postage, stationery and telephone Computing costs Legal fees 110,700 3,102 17.472 6,931 2,340 97,468 2,340 21,704 4,422 1,900 Governance Governan Govemance GovernanGe Govemance 140,545 127,834 13-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 8 Independent examiner's remuneration The analysis of independent examinerfs remuneration is as follows Fees payable to the independent examiner: 2024-25 202>24 Independent examination cf the annual accounts 3,102 2,340 9 Directors None of the directors {or anyone connected with them) received any remuneration. benefits or expenses from the company during the year. Directors, indemnity insurance cover is included in the overall insuran premiums paid. 10 Employees Number of employees The average monthly number of employees during the year was.. 2024-25 Number 2023-24 Number Managerial Admin Istrative Project work 14 18 14 17 Employment costs 2024-25 2023-24 Wages and salaries Social security cosls Other pension costs 512,423 41,686 6,953 5S1,062 435,208 33,565 5,683 476,167 During the year there were 4 part time staff {2023-24 - 3}. The estimate of the equivalent number of full-time staff is 15 employees (2023-24 - 16). No employee received remuneration of £60,000 ar more {2Q23-24- Nil). 14-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Tangible fixed assets Motor vehicles Office equipment Total Cost At 1 April 2024 Additions Disposals 29,100 19,490 29 100) 29,100 21,947 29.100) 2,457 At 31 March 2025 19,490 2.457 DEPRECIATION At 1 April 2024 Charge for year Disposals 29,100 3,248 29,100) 29,100 3,525 29,100) 277 At 31 March 2025 3.248 277 NET BOOK VALUE At 31 March 2025 16,242 7,804 At 31 April 2024 12 Financial instruments 2024-25 2023-24 Carrying amount of financial assets Debt instruments measured at amortised cost 27,457 30,438 13 Debtors 2024-25 2023-24 Amounts falling due within one year Other debtors Amounts owed by Cherrytree Prepayments and accrued income 27,457 24,907 5,531 11.842 42,280 7,473 34,930 15-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Creditors falling due within one year 2024-25 2023-24 Credit Card Accruals and Deferred Income Trade Creditors Social Security Amounts owed to Cherrytree 565 28,424 5,853 13,914 6.056 54,812 232 13,638 27.190 41,060 As at the previous balance sheet date. were no accruals lating to deferred income at 31 March 2025. 15 Creditors falling due after one year 2024-25 2023-24 Amounts owed to Cherytree 100,000 16 Réstricted funds The income funds of the company include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.. Movement in funds - current year Incoming Resources resources expended Balance at 1 April 2024 Balance at 31 March 2025 Cherrytree fund Motor vehicle fund 51,845 (51 ,845) 51,845 51,845 Movement In funds - previous year Balance at 1 Incoming Resources April 2023 resources expended Balance at 31 March 2024 Cherrytree fund Motor vehicle fund 62,222 (62,222) 62,222 62,222 The Cherrytree fund contributes towards the cost of a project worker, counselling and residents, activities on an ongoing basis, and the Home & Health Worker for a fixed term from 1 October 2021 to 31 March 2026. 16-
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Analysis of net assets between funds Current year Unrestricted Funds Designated funds Restricted funds Total Fund balances at 31 March 2025 are represented by.. Tangible assets Net current assets Loan due after one ye2r 18,422 35,125 (100,000} (46,453 18,422 35,125 (100,000) {46,453 Previous year Unrestricted funds Designated funds Restricted funds Total Fund balances at 31 March 2024 are represented by.. Tangible assets Nel current assets 19,626 19,626 19,626 19,626 18 Related party transactions Creditors (note 14 and 151 included £106.056 (2023-24 £5,541 owed from) owed lo Cherrytree. Ch8rytree Support SeNices Limited is a company limited by guarantee and Cherrytree is the sole member. If the company is dissolvee, Cherrytree promises to pay £1 towards the cost of dissolution and the liabilities incurred by the company while Cherrytree is a member. Ouring the year the Trustees agreed funding to continue to trade despite the resulting deficit as 3 loan Repayable once the company secures additional funding adequate to equitsble trading. During the year, Cherrytree Support SeNi¢8s Limited received £157,901 (2023-24 - £112,222) from Cherrytree to meet ils charitable expenditure costs. The company pays Cherrytree rent for the use of Mickley Lane, which in the year amounted to £12.00012023-24 £12,000). Misce15aneous expenditure totalling £200 (2023-24 - £200) was paid by Cherrytree on behalf of Cherrytree Support Services Limited. Consolidated accounts have not been prepared as the trustees of Cherrytree do not believe they direct the operslions of Cherytree Support Services Limited. 17
CHERRYTREE SUPPORT SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Cash generated from operations 2024-25 2023-24 Deficit for the year Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Movements in working capital.. Increaseldecrease in debtors Increaseldecrease in creditors Cash absorbed by operations {66,07g) (17,440) (606) 3,525 {773) 7,350 13,752 142,058) {14,588) 23,751 (9,0501