Charity Registration No. 1097527 Company Rgglstratlon No. 4245122 IEngland and Wales) GLADSTONE CONNECT LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
GLADSTONE CONNECT LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mr N Khan Mr D Jost Mr S Nawaz Mr G Shabbir Ms M Rajabali Ms N Abdurahman Mr M Saeed {Appointed 2 July 20241 Secretsry Ms H Walkinshaw Charlty number 1097527 Company number 4245122 Registered office Allama Iqbal Family Centre 157 Cromwell Road Pelerborough PE1 2EL Independent examiner 3 Sixty Accountants Laxton House 191 Lincoln Road Pelerborough PE1 2PN
GLADSTONE CONNECT LIMITED CONTENTS Page Trustees report Independent examinerfs report statement of financial activities Balance sheet Notes lo the financial ststemenls 10-16
GLADSTONE CONNECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statement for the year ending 31 March 2023. The Trustees have adopted the provisions of the Slalement of Recommended Practice ISORPI 'Accounling & Reporting by Charities issued in 2005. The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the financi81 statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. ststement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" Objectives and activities The charity's objects Ilhe Objectsl are applicable lo the promotion for the public benefits, in areas of social and economic deprivation bul in parti¢ul8r in the area of Peleiborough generally known as the Gladstone Area Ibeing the area including and adjacent lo Gladstone Street and being part of the Central of the City of Pelerboroughl by all or any of the following means a. the relief of povety b. the relief of unemployment c. the advancement of education & training or retraining, particularly among unemployed people and providing unemployed people with work experience d. the provision of financial assistance, technical assistance or business advice or consultancy in order lo provide training and employment opportunities for unemployed people e. the creab'on of training opportunities f. the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitsble ownership provided that such power shall not extend lo relieving any local authorities or other bodies of a slatulory duly lo provide or improve housing g. the maintenance, improvement or provision of public amenities h. the provision of rreatIonal facilities for the public al large or those by reason of their youth, age, infirmity or disablement. poverty or social and economic circumstances, have need of such facilities i. the protection or conservation of the environment j. the provision of public health facilities and childcare k. the promotion of public safety and prevention of crime l. such other means as may from time lo lime be determined subject lo the prior wrillen consent of the Charity Commissioners for England & Wales. Mission Slatemenl.. 'Slriving for a prosperous and self-confidenl community.
GLADSTONE CONNECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Aims 1. To seek lo ensure first rate access to services for all residents of the Gladstone area of Peterborough. 2. To support Gladstone area residents in their aspirations for secure and properly rewarded employment, for safe and secure housing. for well-resourced education and training, for good health and wellbeing and for enjoyable recreation and social contact. 3. To act as a conduit for Servi providers lo access Gladstone residents in order to assess their needs and make appropriate provision accordingly. 4. To increase the awareness of rights and responsibilities among Gladstone area residents. 5. To encourage the development of local services by local people. This will be achieved by Supporting service development in the area Helping stslulory bodies lo deliver their services in the area Working with volLJnlary and statutory and private agencies with similar aims to improve housing, education, employment, sport and leisure and health of Gladstone area residents. REPORnNG FOR THE PUBLIC BENEFIT In compliance with Section 17 of the Charities Act 2011, Gladstone Connect Limited Trustees have consulted the guidan issued by the Charity Commission on operating the Charity for the public benefit and are satisfied that the Charity meets the requirements on public benefit as follows. Gladstone Connect continues lo provide for young children al the Allama Iqbal Centre, where the very successful Beeches Pre-school is held during school term lime. It also directly manages a range of projects which benefit local residents including.. youth and holiday clubs for local Children a senior ci(izens lunch club a weekly mums and tols group The Centre continues to be hired by local charities. community and religioLJS groups and other organisations on regular and ad hoc basis at other limes for activities which benefit the local community, including for young people's sports activities, Urdu classes and craft classes in line with the identified aims. These activities provide income which helps defray the operating costs. The use of volunteers has increased and allowed considerable Improvements lo be made lo the gardens outside the building, at the same time training and increasing interest in gardening and growng vegetsbles by local residents.
GLADSTONE CONNECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review The income from leasing accommodation to the Beeches Pre-school, our °anchor tenant" has been a vital element of the organisalion's financial well-being. In the last 12 months, Gladstone Connect has received a number of grants which have enabled it to build on the services we provide to the community. These grants and the increased regular income from rentals have improved the charity's financial position. Gladstone Connect is also a CADENT Centre of Wamith, providing local residents with information on how lo reduce energy bills and slay safe in homes Wlth gas applianS. 11 is hoped that Gladstone Connect will enjoy some financial advantage from the major urban development of North Weslgale and the City Council's New Towns Fund "Lincoln Road Project. Imillfieldl whith would very much impact on our neighbourhood. The centre was purpose built in 2003 and is in need of refurbishment and updating. The general wear and tear on the building is considerable and the overall appearance of the centre, especially the outside area, requires increasing regular expenditure. 11 is imperativè that significant reserves are maintained lo meet the expenditure envisaged lo allow the building, and especially the surrounding area for which Il Is responsible, lo be returned to the original 2003 standard al the end of the lease period. Consequently. it has been agreed by Trustees that a sum representing 8OOh of reserves should be designated for use only on maintenance and renewal of the major items associated with premises and not for any new developments and other purposes or costs of the charity. This will allow an unallocaled reserve equivalent lo the annual expenditure for immediate operational support and some limited development costs. Trustees believe that this will allow the charity to continue operating in the medium term and consider the position satisfactory.
GLADSTONE CONNECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The charity wishes lo have an Influen on the improvement of the area in particular in the atnbiance and pride of thè local community. The development of Connect Park is an example of this commitment. To this end it will endeavour lo act as an exemplar of good practice and seek Improvements in the environment by encouraging volunteers lo provide support for ils activities and lo work with colleague agencies including Community First, the Pelerborough Environment City Trust IPECTI, Nene Park Trust and Living Sport. This will limrt the operating expenditure required. 11 is essential for the continuation of the centre into the future that more support is received from the local community. Increasing the number of volunteers to provide assistance in everyday tasks is being encouraged and the organisalion aims for more Centre activities to lake place al full cost charges so that we successfully 'p8y our way.. Al the same lime we shall ensure that our18ndlords, Peterborough City Council, are aware of our efforts to maintain the premises in excellent order. Govemment funds to provide some ¢omp&nsalion from loss of business arising from the Covid pandemic have proved enormously valuable and we a very happy lo acknowledge the assistance provided by Pelerborough City Council in this matter. ststomgnt of Trustees Rosponslbllltlos The Trustees, who are also the directors of Gladstone Connect Limited for the purpose of company law, are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources, induding the income and expenditure, of the charitable company for that year. In preparing these accounts, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP", make judgements and eslimales that are reasonable and prudent., slate whether applicable UKAccounting Stsndards have been followed, subject to any material departures disdosed and explained in the accounts., and prepare the accounts on the going concem basis unless il is inappropriate lo presume that the Charity wll continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose w(th reasonable accuracy al any lime the financial position of the Charity and enable them to ensure that the accounts comply with the Companies A¢t 2006. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Structure. governance and management Gladstone Connect Ltd was established in 1998, became a Registered Charity in 2003 and its current Conslilulion was approved in 2003. Ils early years were concerned primarily with providing and managing accommodation for Sure Start activities in the Gladstone area of Pelerborough bul with the demise of Sure Start, all activities are now centred on pioviding a centre and a voice for community activities based al the Allama Iqbal Cenlre. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were". Mr N Khan Mr D Jost MsNBi Mr S Nawaz Mr G Shabbir Ms M Rajabali (Resigned 6 November 20241
GLADSTONE CONNECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ms N Abdurahman Mr M Saeed (Appointed 2 July 20241 The policy and governance of the organisalion is vested in a Board of Trustees, elected al the Annual General Meeting IAGMI of Gladstone Conne¢l Ltd. Trustees may be nominated and appointed by the Board. Named officers are the chair. vice-chair, secretary and treasurer. The Board of Trustees meets regularfy and on other occasions as necessary. Board meetings were held regularly by Trustees and are attended by the Manager. The Trustees report was approved by the Board of Trustees. Mr N Khan Trustee Dated.. 1210112026 Ms M Rajabali Trustee 1210112026
GLADSTONE CONNECT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLADSTONE CONNECT LIMITED I report to the Trustees on my examination of the financial statements of Gladstone Connect Limited (the Charilyl for the year ended 31 March 2025. Responsibilities and basis of report As the Trustees of the Charity land also ils directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial slalements of the Charity are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Ac12011. Indepgndent examlngrfs statement I have completed my examination. I confirm that no matters have come lo my attention in connection with thè examination giving me cause lo believe that In any material respect". accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006. the financial slalements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial slalements give a true and fair view, which is not a matter considered as part of an independent examination,. or the financial slalements have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities applicable lo charities preparing their financial slalements in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. 3 Slxty Accountants Laxton House 191 Lincoln Road Peterborough PE12PN 101011202S
GLADSTONE CONNECT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted fund$ funds Total 2025 Total 2024 Notes Income from: Charitable activities Investments 60,695 915 60,695 915 50,023 1,147 Total income 61,610 61,610 51,170 Ex enditurg on: staff Costs Support staff costs staff pensions Stsff training Rates Insurance Legal & professional Light and heal Centre supplies Telephone Computer expenses Project expenses Sundry 32,656 4,761 520 123 1,642 1,589 574 8.352 858 567 225 2,159 495 32,656 4,761 520 123 1,642 1,589 574 8,352 858 567 225 2,159 495 30,671 8.955 341 2.149 1,038 15,732 3,134 755 245 3,826 787
GLADSTONE CONNECT LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Subscriptions Waste management Repairs and Maintenance Depreciation Bank charges 141 2.000 4,793 3.924 318 1,978 3,432 3,134 41 1,978 3,432 3,134 41 Total charltable expendlture 63,106 63,106 78,809 Governance costs Accountancy Other Governance 1,500 182 1,500 182 1,500 35 1,682 1,682 1,535 Total resources expended 64,788 64,788 80,344 Net outgoing resources before transfers 13,1781 13,1781 129,1741 Gross transfers beeen funds 1,906 {1,9061 Net expendlture for the yearl Net movement in funds 11,2721 11,9061 13,1781 129,1741 Fund balances at 1 April 2024 49.584 74,377 123,1 153,135 Fund balances at 31 March 2025 48,312 72,471 120,783 123.961 The statement of financial activities indudes all gains and losses recognised in the year. The statement of financial a¢tivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The slalement of financial activities also complies ¥Mth the requirements for an income and expenditure account under the Companies Act 2006.
GLADSTONE CONNECT LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 10 24,253 27,387 Current assets Debtors Cash at bank and in hand 11 1,826 102,112 99,711 103,938 99.711 CreditoTr: amounts falling due within one year 12 I7,4L) 13,1371 Net current assets 96,532 9e,574 Total assets less current liabilitios 120,785 123,961 The funds of the Charity Restricted funds Unrestricted funds 14 1S 72,471 48,314 74,377 49,584 120,785 123,961 The company is entiued to the exemption from the audit requirement wntsined in secb'on 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an aLJdit of its financial statements for the year in qLJestion in accordance with section 476. These financial ststemenls have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The financial stslemenls were approved by the Trustees on 4111125 Ms M Rajabali Tru$tge Tru$teg Company registration number 4245122 (England and Wales)
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforniation Gladstone Connect Limited is a private company limited by guarantee incorporated in England and Wdles. The registered office is Allama Iqbal Family Cenlre, 157 Cromwell Road, Pelerborough, PE1 2EL. 1.1 Accounting convention The financial statements have been prepared in aOrdanCe wth the Charity's governing document, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The Gharity is a Public Benefit Entity as defined by FRS 102. The Charity has tsken advantage of the provisions in the SORP for charities not lo prepare a slalement of cash flows. The financial stslemenls are prepared in sleding, which is the functional currency of the Charity. Monetsry amounts in these financial ststemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in fijrtherance of their charitable objectives. Reslricled funds are subject to specific conditions as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial slalements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Incoming resources Income is recognised when the Charty is legally entitled to it after any performance Conditions have been mel, the amounts can be measured reliably, and it is probable that income wrill be reived. Cash donations are recognised on receipt. other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable In relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or othenlSe if the Charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 10-
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central stsff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.$ Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their usefLJI lives on the following bases.. Land and buildings Plant and machinery Fixtures, fittings & equipment in accordan with the property 330A of cost 20% reducing balan The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceed5 and the carrying value of the a55et, and is recognised in the 5ts1emenl of financial acbvities. 1.6 Impairment of fixèd assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any Indication that those assets have suffered an impairment loss. If any such indication exists, the recoveiable amount of the asset is estimated in order to determine the exlenl of the impairment loss lif any). 1.7 Cash and cash equlvalenls Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current Iiabililie5. 1.8 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils finanaal inslrumenls. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the inslrumenl. Financial assets and liabilities are offset, wi(h the nel amounts presented in the financial stalemenls, when there is a legally enforceablè right lo sel off the recognised amounts and there is an intenb'on lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basie financial assets Basic financial assets, whi¢h include debtors and cash and bank balances. are initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised.
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl Basic financial liabilities Basic finanaal liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial Iiabililies dassilied as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale 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 subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are dèrecogni5ed when the Charty's contractual obligations expire or are discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the Charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. 1.10 Retirement benefits Payments to defined contribution retirement benefit heMeS are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and Iiabilrties that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales 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. Charltsble actlvltlgs Charitable Income Charitable Income 2026 2024 Rentsl income Project ftjnding Other income 41,044 19.461 190 50,023 12-
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Investments Total Total 2025 2024 Interest receivable 915 1,147 Charltable adlvltlgs 2025 2024 staff costs Depreciation and impaimienl Charrtable Expenditure Accountancy Governance costs 33,176 3,134 26.796 1,500 182 39,968 3,924 34.917 1,500 35 64,788 80,344 64,788 80,344 Net movement In funds 2025 2024 The nel movement in funds is slated after ¢hargingllcredilingl'. Depreciation of owned tangible fixed assets 3,134 3,923 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Charty during the year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number 13-
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Employees Icontlnuedl Employment costs 202S 2024 Wages and salaries Other pension costs 32,656 520 30,671 341 33,176 31,012 There were no employees whose annual remuneration was more than £60,000. Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Tanglblg flx9d a$sgts Land and bulldln98 Plant and machln8ry Flxtur8S. ttlngs & oquipment Total Cost Al 1 April 2024 13,089 2,513 29,774 45,376 Al 31 March 2025 13,089 2,513 29,774 45,376 Depreciation and impaiment Al 1 April 2024 Depreryation charged in the year 1,320 2,433 26 14,237 3,107 17,990 3,133 Al 31 March 2025 1,320 2,459 17,344 21,123 Carrying amount Al 31 March 2025 11,769 54 12,430 24,253 Al 31 March 2024 11,769 81 15,537 27,387 11 Debtors 2025 2024 Arnounts falling due within one year: Trade debtors 1,826 14-
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 12 Creditors: amounts falling due within one year 2025 2024 Other tsxation and social security Payments received on account Other creditors Accruals and deferred income 323 5,413 136 1,534 298 1,339 1,500 7,406 3.137 13 Retirement benefit schemes 2025 2024 Dgfln9d ¢ontrlbutlon $chgmgs Charge to profit or loss in respect of defined contribution schemes 520 341 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 14 Rgstrlcled fund$ The restrided funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 Aprfl 2024 Transfers At31 March 2025 74,377 11,9061 72,471 Previous year- At 1 April 2023 Transfers At 31 March 2024 117,861 143,4841 74,377 15 Unrestricted funds The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantor5 as lo how they may be used. These Include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At l April 2024 Incoming resources Resources expended Transfers At 31 March 2025 General funds 49.584 61,610 164,7861 1,906 48,314 15-
GLADSTONE CONNECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 15 Unrestrlcted funds Icontlnuedl Prevlous year: At 1 Aprll 2023 Incomlng resources Resources expended Transfers At 31 March 2024 General funds 35,274 51,170 180,3441 43,484 49,584 16 Analysls of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsllliabililiesl 24,253 24,061 24,253 96,532 72,471 48,314 72,471 120,785 Unrestrlcted funds 2024 Re$trlcted funds 2024 Totsl 2024 At 31 March 2024- Tangible assets Current assetsllliabililiesl 27,387 22,197 27,387 96,574 74,377 49,584 74,377 123,961 17 Related party transactlons There were no disclosable related paty transactions during the year12024 - none). 16-